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Fisher Investments Institutional Group ESG Stock Fund for Retirement Plans
mutual fund
QDVSX
Payout Change
Pending
Price as of:
$18.22
-0.09
-0.49%
primary theme
N/A
share class
QDVSX (Mutual Fund)
Fisher Investments Institutional Group ESG Stock Fund for Retirement Plans
QDVSX (Mutual Fund)
Fisher Investments Institutional Group ESG Stock Fund for Retirement Plans
Payout Change
Pending
Price as of:
$18.22
-0.09
-0.49%
primary theme
N/A
share class
Name
As of 12/13/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
$18.22
$291 K
1.34%
$0.25
-
Vitals
YTD Return
23.6%
1 yr return
25.8%
3 Yr Avg Return
9.1%
5 Yr Avg Return
N/A
Net Assets
$291 K
Holdings in Top 10
31.8%
52 WEEK LOW AND HIGH
$18.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio N/A
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 1.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/13/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
$18.22
$291 K
1.34%
$0.25
-
QDVSX - Profile
Distributions
- YTD Total Return 23.6%
- 3 Yr Annualized Total Return 9.1%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.23%
- Dividend Yield 1.3%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameFisher Investments Institutional Group ESG Stock Fund for Retirement Plans
-
Fund Family NameFisher Investments
-
Inception DateDec 13, 2019
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Hanson
Fund Description
The Fund is available only to eligible retirement plans that have entered into an agreement with Fisher Asset Management, LLC (the “Adviser”) to receive managed account services through the Adviser’s Personalized Retirement Outcomes offering or other services provided by the Adviser. If you do not qualify to be an investor and an account was established for you despite the fact that you do not qualify, your account may be liquidated at the Adviser’s discretion. If you are an individual, you may buy or sell shares only as permitted by your retirement plan. Please refer to your plan materials or contact your plan sponsor directly.
The Fund seeks to achieve its objective by investing primarily in a portfolio of global equity securities, including securities of emerging market companies. Under normal circumstances, the Fund invests at least 80% of its assets in common stocks that are subject to and meet the Fund’s environmental, social and governance (“ESG”) guidelines at the time of investment. The Fund may also invest in appropriate issuers through depositary receipts including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”). The Benchmark covers approximately 9,000 securities across large-, mid-, and small-cap segments, and across style and sector segments in 47 developed and emerging markets. The Adviser expects that the Fund will be principally invested in large-, mid-, and small-cap stocks consistent with the Adviser’s market outlook.
The Adviser utilizes a top-down investment process based on applying proprietary research tools to the Adviser’s analysis of a wide range of economic, political, and sentiment drivers to formulate forecasts and develop portfolio themes. The Adviser attempts to exploit the structure of global markets and capitalize on style and sector cycles as they come into and out of favor. The buy and sell disciplines are determined by the outputs of the Adviser’s top-down investment process.
The Adviser considers ESG factors throughout the investment and portfolio construction process. ESG factors are among the many drivers considered by the Adviser when developing country, sector and thematic preferences. Governmental influence on public companies, environmental regulation, social policy, market reforms impacting private property, labor, and human rights are among the ESG factors considered when determining country and sector/industry allocations and shaping an initial prospect list of portfolio positions. The Adviser performs fundamental research on prospective investments to identify securities with strategic attributes consistent with the firm’s top-down views and with competitive advantages relative to their defined peer group. The fundamental research process involves reviewing and evaluating a range of ESG factors prior to purchasing a security, seeking to identify securities benefiting from ESG trends and avoid those with underappreciated risks. These factors include, but are not limited to, shareholder concentration, corporate stewardship, environmental opportunities and liabilities, and human or labor rights controversies.
Also, the Fund seeks to narrow the security selection universe by applying comprehensive and robust ESG screens that are applied to issuers of equity securities without compromising the Adviser’s broader market outlook and themes. The Adviser utilizes external third party ESG research and data which may include environmental, human and labor rights, and controversy data. The Adviser uses this information to create business involvement screens to exclude companies with ties to categories such as, but not limited to, cluster munitions or landmines, or those that derive any revenue from nuclear or bio-chemical weapons. Additionally, the Adviser screens companies with significant revenue (generally 5% or greater, though the Adviser may determine in its discretion what it believes is significant depending upon the factor and the company) from adult entertainment, alcohol, weapons or firearms, gambling, genetic engineering and tobacco.
Once the Adviser determines portfolio weights for countries, sectors and industries, the Adviser applies a series of risk-factor screens based on the desired style characteristics (e.g., market capitalization and relative valuation) for each category requiring a weight. Securities passing these screens are then subjected to further quantitative analysis to eliminate companies with excessive risk profiles relative to their peer group, companies with excessive leverage or balance sheet risk, and securities lacking sufficient liquidity for investment.
The Adviser applies fundamental research to ascertain particular stocks within a given category expected to accomplish two goals:
| ● | Finding companies possessing strategic attributes (i.e., competitive and comparative advantages) consistent with higher level themes in the portfolio derived from economic, political and sentiment drivers. |
| ● | Maximizing the likelihood of beating the selected category of stocks. By avoiding stocks likely to be extreme outliers versus the peer group, the Adviser believes it can reduce portfolio risk while adding value at the security selection level. |
Based on this analysis, the Adviser selects securities for purchase. The Adviser attempts to manage risk by, among other things, analyzing prospective stocks to assess their correlation to the country and sector in order to maximize the possibility of leveraging top level themes and to identify unintended risk concentrations in the security selection process. The Adviser analyzes the components of portfolio performance from a country, sector and stock factors perspective to confirm that risk and return are derived from intended sources.
QDVSX - Performance
Return Ranking - Trailing
| Period | QDVSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 23.6% | -35.6% | 29.2% | 41.95% |
| 1 Yr | 25.8% | 17.3% | 252.4% | 29.43% |
| 3 Yr | 9.1%* | -3.5% | 34.6% | N/A |
| 5 Yr | N/A* | 0.1% | 32.7% | N/A |
| 10 Yr | N/A* | -6.9% | 18.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | QDVSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 30.0% | -24.3% | 957.1% | 20.57% |
| 2022 | -25.2% | -38.3% | 47.1% | N/A |
| 2021 | 20.1% | -54.2% | 0.6% | N/A |
| 2020 | 25.6% | -76.0% | 54.1% | N/A |
| 2019 | N/A | -26.1% | 47.8% | N/A |
Total Return Ranking - Trailing
| Period | QDVSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 23.6% | -35.6% | 29.2% | 43.06% |
| 1 Yr | 25.8% | 11.4% | 252.4% | 27.27% |
| 3 Yr | 9.1%* | -3.5% | 34.6% | N/A |
| 5 Yr | N/A* | 0.1% | 32.7% | N/A |
| 10 Yr | N/A* | -6.9% | 18.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | QDVSX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 37.8% | -24.3% | 957.1% | 20.57% |
| 2022 | -24.0% | -33.1% | 47.1% | N/A |
| 2021 | 21.4% | -44.4% | 1.8% | N/A |
| 2020 | 27.2% | -6.5% | 54.1% | N/A |
| 2019 | N/A | -14.4% | 47.8% | N/A |
NAV & Total Return History
QDVSX - Holdings
Concentration Analysis
| QDVSX | Category Low | Category High | QDVSX % Rank | |
|---|---|---|---|---|
| Net Assets | 291 K | 199 K | 133 B | 100.00% |
| Number of Holdings | 94 | 1 | 9075 | 40.31% |
| Net Assets in Top 10 | 93.6 K | -18 M | 37.6 B | 99.78% |
| Weighting of Top 10 | 31.82% | 9.1% | 100.0% | 35.24% |
Top 10 Holdings
- NVIDIA Corp. 6.13%
- Apple, Inc. 4.28%
- Microsoft Corp. 3.97%
- Eli Lilly Co. 3.92%
- Taiwan Semiconductor Manufacturing Co. Ltd. 3.04%
- Alphabet, Inc. 2.72%
- Amazon.com, Inc. 2.37%
- ASML Holding NV 1.83%
- Lennox International, Inc. 1.81%
- Toll Brothers, Inc. 1.76%
Asset Allocation
| Weighting | Return Low | Return High | QDVSX % Rank | |
|---|---|---|---|---|
| Stocks | 99.74% | 61.84% | 125.47% | 25.44% |
| Cash | 0.26% | -174.70% | 23.12% | 72.58% |
| Preferred Stocks | 0.00% | -0.01% | 5.28% | 94.16% |
| Other | 0.00% | -13.98% | 19.14% | 93.94% |
| Convertible Bonds | 0.00% | 0.00% | 4.46% | 94.16% |
| Bonds | 0.00% | -1.50% | 161.67% | 94.49% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | QDVSX % Rank | |
|---|---|---|---|---|
| Technology | 36.04% | 0.00% | 49.87% | 5.29% |
| Healthcare | 12.59% | 0.00% | 35.42% | 53.19% |
| Financial Services | 10.41% | 0.00% | 38.42% | 68.28% |
| Consumer Cyclical | 8.89% | 0.00% | 40.94% | 54.74% |
| Communication Services | 8.41% | 0.00% | 57.66% | 40.97% |
| Industrials | 8.09% | 0.00% | 44.06% | 59.47% |
| Energy | 6.54% | 0.00% | 21.15% | 14.10% |
| Consumer Defense | 5.11% | 0.00% | 73.28% | 77.20% |
| Basic Materials | 3.92% | 0.00% | 38.60% | 58.70% |
| Utilities | 0.00% | 0.00% | 29.12% | 68.39% |
| Real Estate | 0.00% | 0.00% | 39.48% | 99.56% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | QDVSX % Rank | |
|---|---|---|---|---|
| US | 79.54% | 0.13% | 103.82% | 13.44% |
| Non US | 20.20% | 0.58% | 99.46% | 84.03% |
QDVSX - Expenses
Operational Fees
| QDVSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | N/A | 0.01% | 44.27% | N/A |
| Management Fee | 0.00% | 0.00% | 1.82% | 2.95% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.76% | N/A |
Sales Fees
| QDVSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| QDVSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| QDVSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 1.00% | 0.00% | 395.00% | N/A |
QDVSX - Distributions
Dividend Yield Analysis
| QDVSX | Category Low | Category High | QDVSX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.34% | 0.00% | 3.26% | 0.98% |
Dividend Distribution Analysis
| QDVSX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Annually | Annually |
Net Income Ratio Analysis
| QDVSX | Category Low | Category High | QDVSX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.23% | -4.27% | 12.65% | 22.95% |
Capital Gain Distribution Analysis
| QDVSX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 21, 2023 | $0.247 | OrdinaryDividend |
| Dec 21, 2023 | $0.637 | CapitalGainLongTerm |
| Dec 22, 2022 | $0.188 | OrdinaryDividend |
| Dec 22, 2021 | $0.155 | OrdinaryDividend |
| Dec 21, 2020 | $0.164 | OrdinaryDividend |
QDVSX - Fund Manager Analysis
Managers
Michael Hanson
Start Date
Tenure
Tenure Rank
Dec 13, 2019
2.47
2.5%
Michael joined Fisher Investments in 2002. Prior to his current role, he held a variety of positions, including Vice President of Portfolio Management Communications, Capital Markets Team Leader and Institutional Client Services Manager. Before joining the firm, he worked at Bear Stearns as a Corporate Finance Analyst in the Global Technology Group. Michael regularly meets with clients globally, sharing the firm’s market outlook, current portfolio positioning and answering questions. Michael appears regularly on various financial media programs, including those on Yahoo Finance, Reuters TV and the Cheddar TV Network. He is the author of six books, including 20/20 Money: See the Markets Clearly, Gain Focus and Invest Better than the Pros. He speaks regularly around the US on a variety of topics ranging from economics to psychology. He was also a lecturer at the Haas School of Business at the University of California, Berkeley, where he taught Investment Management Topics. Michael received his undergraduate degree from Claremont McKenna College and his doctorate in Depth Field Psychology and Mythology from Pacifica Institute.
Kenneth Fisher
Start Date
Tenure
Tenure Rank
Dec 13, 2019
2.47
2.5%
Ken Fisher founded Fisher Investments in 1979, which is now a $169+ billion investment adviser and money management firm serving large institutions and high net worth individuals globally. By most standards, it is the world’s largest pure ‘40 Act Investment Adviser firm. He was CEO for 37 years and currently serves as Executive Chairman and Co-Chief Investment Officer. Ken’s prestigious Forbes “Portfolio Strategy” column ran monthly for 32 1/2 years until 12/31/2016, making Ken the longest continuously running columnist in the magazine’s history. He writes monthly, native language columns in major media organs spanning Western Europe and Asia, including Germany’s Focus Money; Denmark’s leading business newspaper, Børsen; the Netherland’s largest newspaper, De Telegraaf; Switzerland’s leading business paper, Handelszeitung; Spain’s largest business website and newspaper, elEconomista; Italy’s third largest newspaper and number one business paper, Il Sole 24 Ore; France’s L’Opinion; Belgium’s La Libre; Austria’s Trend; Caixin—often referred to as the Bloomberg of China; the Hong Kong Economic Journal; Taiwan’s Business Weekly; South Korea’s largest business paper, Chosun Mint; and Japan’s Diamond Weekly. Ken has written 11 books, including 4 New York Times bestsellers. His 1970’s theoretical work pioneered an investment analysis tool called the Price-to-Sales Ratio, now a core part of financial curriculum. His credits span a multitude of professional and scholarly journals. He is a recipient of the Fabozzi/Jacobs Levy Award for outstanding research in the Journal of Portfolio Management.
William Glaser
Start Date
Tenure
Tenure Rank
Dec 13, 2019
2.47
2.5%
William (Bill) Glaser is the Executive Vice President of Portfolio Management and a member of the Investment Policy Committee (IPC). In those roles, he oversees the firm’s Portfolio Management Department, which includes the Research, Investment Operations, Investment Solutions and Portfolio Evaluation Groups. He is also a member of the Technology Transformation Committee. Bill speaks regularly at client seminars and meets with institutional clients globally, providing information regarding global economic factors, our market outlook and portfolio positioning. Bill joined Fisher Investments in 1999 and has served on the firm’s five-member IPC since 2011. Prior to his current responsibilities, Bill held several different positions at the firm, including Capital Markets Research Team Leader, Securities Research Team Leader and Securities Research Analyst. Bill has a degree in Finance from the University of Arizona.
Aaron Anderson
Start Date
Tenure
Tenure Rank
Dec 13, 2019
2.47
2.5%
Aaron Anderson is a Senior Vice President of Research and a member of the Investment Policy Committee (IPC). In those roles, Aaron oversees the firm’s global macroeconomic and capital markets research. Aaron joined Fisher Investments in 2005 and has served on the firm’s five-member IPC since 2011. His previous roles at the firm include Capital Markets Research Team Leader, Capital Markets Research Analyst and Innovation Manager. Prior to joining Fisher Investments, Aaron worked at Deutsche Bank Alex Brown as an Assistant Vice President. Aaron regularly meets with private and institutional clients globally, sharing the firm’s market outlook, current portfolio positioning and answering questions. Aaron’s views on global market conditions and geopolitical events are featured in publications globally, including The Wall Street Journal, Financial Times, Reuters, MarketWatch, CNN.com, The Telegraph, Forbes and Investing.com—among many others. He also appears regularly in the financial media, programs on CNBC, Yahoo Finance and the Cheddar TV Network. Aaron has written two books, including Own the World: How Smart Investors Create Global Portfolios. He holds undergraduate degrees in Geophysics from the University of California, Santa Barbara and Applied Economics from the University of San Francisco.
Jeffery Silk
Start Date
Tenure
Tenure Rank
Dec 13, 2019
2.47
2.5%
Jeffery (Jeff) Silk is a Vice Chairman and Co-Chief Investment Officer of Fisher Investments. Jeff oversees all portfolio management functions across a wide range of investment strategies at the firm. Jeff joined the firm in 1983 as one of the firm’s first employees. Prior to his current role, Jeff was President and Chief Operating Officer. He has also served as Director of Trading and Operations, where he was instrumental in developing the firm’s first portfolio management, research and trading technologies. Jeff received his undergraduate degree from the University of San Francisco.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 35.82 | 6.24 | 1.25 |
