The Value Plus Fund invests in small companies that are generally less liquid and more volatile than large companies. The Fund also invests in a smaller number of stocks (generally 40 to 70) than the average mutual fund. The performance of these holdings generally will increase the volatility of the Fund’s returns.
Value investments are subject to the risk that their intrinsic value may not be recognized by the broad market.
There is no assurance that dividend-paying stocks will mitigate volatility.
Certain security valuations and forward estimates are based on Heartland Advisors' calculations. Any forecasts may not prove to be true.
Portfolio holdings are subject to change without notice. Current and future portfolio holdings are subject to risk.
Portfolio holdings exclude cash, cash equivalents, options, and futures.
Information about Morningstar Ratings™ are ©2017 Morningstar, Inc. All rights reserved. The information contained herein is (1) proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed, and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
As of 2/28/2017 Morningstar Ratings™: The Heartland Value Plus Fund investor class was rated against 199, 313, and 357 U.S.-domiciled Small Value funds over the 10-, 5-, and 3-year periods and received 3, 1, and 1 stars, respectively.
As of 2/28/2017 Morningstar Ratings™: The Heartland Value Plus Fund institutional class was rated against 199, 313, and 357 U.S.-domiciled Small Value funds over the 10-, 5-, and 3-year periods and received 3, 1, and 1 stars, respectively.
Heartland Advisors defines market cap ranges by the following indices: micro-cap by the Russell Microcap®, small-cap by the Russell 2000®, mid-cap by the Russell Midcap®, large-cap by the Russell Top 200®.
Sector and industry classifications as determined by Heartland Advisors may reference data from sources such as FactSet Research Systems, Inc. or the Global Industry Classification Codes (GICS) developed by Standard & Poor’s and Morgan Stanley Capital International.
The above individuals are registered representatives of ALPS Distributors, Inc.
CFA is a trademark owned by CFA Institute.
The Heartland Funds are distributed by ALPS Distributors, Inc.
Separately managed accounts and related investment advisory services are provided by Heartland Advisors, Inc., a federally registered investment advisor. ALPS Distributors, Inc., is not affiliated with Heartland Advisors, Inc.