Heartland Value Plus Fund Sector Attribution

2Q17

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Value PlusRussell 2000® ValueVariationAttribution Analysis
Economic SectorAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAllocation EffectSelection EffectInteraction EffectTotal Effect
Consumer Discretionary6.747.220.5210.003.780.39-3.263.440.13-0.080.36-0.110.16
Consumer Staples5.11-8.22-0.472.80-8.05-0.232.31-0.17-0.24-0.250.00-0.01-0.26
Energy9.52-17.46-1.834.94-18.99-1.004.581.53-0.82-1.030.070.09-0.87
Financials20.845.081.0632.121.190.32-11.293.890.750.021.23-0.430.82
Health Care6.6210.160.484.834.900.221.795.260.270.140.26-0.130.27
Industrials18.67-3.48-0.5412.845.070.615.83-8.55-1.150.29-1.08-0.45-1.24
Information Technology15.61-0.49-0.0110.231.290.165.38-1.78-0.170.09-0.18-0.12-0.22
Materials8.263.570.334.51-2.51-0.133.756.080.46-0.090.250.280.44
Real Estate5.520.090.0510.491.510.17-4.97-1.42-0.120.07-0.160.05-0.03
Telecommunication Services------0.651.640.01-0.65-1.64-0.01-0.01-----0.01
Utilities3.10-4.69-0.156.592.470.17-3.49-7.16-0.32-0.04-0.480.25-0.27
Total100.00-0.55-0.55100.000.670.67---1.22-1.22-0.900.26-0.58-1.22
Source: FactSet Research Systems lnc., holdings data as of 3/31/2017 to 6/29/2017 for Value Plus, 4/3/2017 to 6/30/2017 for Russell 2000® Value

 

1-Year

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Value PlusRussell 2000® ValueVariationAttribution Analysis
Economic SectorAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAllocation EffectSelection EffectInteraction EffectTotal Effect
Consumer Discretionary7.4017.901.5410.1819.062.05-2.79-1.16-0.510.16-0.01-0.090.06
Consumer Staples2.95-32.16-1.312.882.540.150.07-34.70-1.46-0.13-1.420.29-1.26
Energy9.6610.641.425.48-4.57-0.014.1915.211.42-1.170.950.700.47
Financials21.6246.688.7831.2535.6410.36-9.6311.04-1.58-0.812.55-0.860.88
Health Care4.8028.111.244.6729.011.270.13-0.90-0.030.070.04-0.14-0.03
Industrials19.4618.954.0512.5234.984.186.93-16.03-0.130.55-1.57-0.80-1.82
Information Technology15.0436.385.2110.3643.854.204.69-7.471.010.74-0.52-0.39-0.18
Materials9.2132.723.384.6429.321.434.563.401.950.390.140.170.70
Real Estate6.558.69-0.1110.758.850.94-4.21-0.16-1.050.73-0.41-0.51-0.19
Telecommunication Services------0.68-3.53-0.03-0.683.530.030.19----0.19
Utilities3.31-2.340.046.587.120.31-3.27-9.45-0.270.64-0.340.270.56
Total100.0024.2424.24100.0024.8624.86---0.62-0.621.36-0.60-1.37-0.62
Source: FactSet Research Systems lnc., holdings data as of 6/30/2016 to 6/29/2017 for Value Plus, 7/1/2016 to 6/30/2017 for Russell 2000® Value

 

3-Year

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Value PlusRussell 2000® ValueVariationAttribution Analysis
Economic SectorAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAllocation EffectSelection EffectInteraction EffectTotal Effect
Consumer Discretionary10.63-3.07-1.9010.654.010.36-0.02-7.08-2.26-0.57-0.52-0.62-1.70
Consumer Staples4.47-21.14-0.313.0322.540.921.43-43.68-1.230.48-1.410.42-0.51
Energy9.52-80.51-16.565.03-70.29-8.244.49-10.22-8.32-7.28-1.43-1.56-10.28
Financials19.3060.7510.0828.9245.4312.36-9.6215.32-2.29-2.013.59-1.320.25
Health Care4.43-3.140.164.8342.442.09-0.41-45.58-1.93-0.36-1.410.16-1.61
Industrials24.2513.662.8712.5023.082.7211.75-9.420.15-0.40-0.90-0.05-1.34
Information Technology13.8344.715.6110.2450.604.833.59-5.900.791.03-0.15-0.790.09
Materials8.42-51.82-3.634.1610.630.714.25-62.44-4.34-0.39-3.37-1.98-5.74
Real Estate3.1333.481.3512.9825.593.76-9.857.89-2.41-1.441.53-2.36-2.27
Telecommunication Services------0.71-4.63-0.04-0.714.630.040.20----0.20
Utilities2.0337.771.456.9437.183.09-4.900.59-1.65-0.820.87-0.59-0.53
Total100.00-0.88-0.88100.0022.5622.56---23.44-23.44-11.56-3.19-8.69-23.44
Source: FactSet Research Systems lnc., holdings data as of 6/30/2014 to 6/29/2017 for Value Plus, 7/1/2014 to 6/30/2017 for Russell 2000® Value

 

View detailed Fund performance as of the most recent quarter and month end

©2017 Heartland Advisors | 789 N. Water Street, Suite 500, Milwaukee, WI 53202 | Business Office: 414-347-7777 | Financial Professionals: 888-505-5180 | Individual Investors: 800-432-7856

In the prospectus (pdf) dated 5/1/2017, the gross expense ratios for the investor and institutional class of the Value Plus Fund are 1.19% and 0.97%, respectively. The Advisor has voluntarily agreed to waive fees and/or reimburse expenses with respect to the institutional class, to the extent necessary to maintain the institutional class “Net Annual Operating Expenses” at a ratio not to exceed 0.99% of average daily net assets. This voluntary waiver/reimbursement may be discontinued at any time. Without such waivers and/or reimbursements, total returns may have been lower.

Past performance does not guarantee future results. Performance represents past performance; current returns may be lower or higher. Performance information for institutional class shares of Funds that existed prior to their initial public offering is based on the performance of investor class shares. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost. All returns reflect reinvested dividends and capital gains distributions, but do not reflect the deduction of taxes that an investor would pay on distributions or redemptions. Subject to certain exceptions, shares of a Fund redeemed or exchanged within 10 days (90 days for the International Value Fund) of purchase are subject to a 2% redemption fee. Performance does not reflect this fee, which if deducted would reduce an individual's return.

Performance attribution does not incorporate the effects of cash, cash equivalents, options, futures, unclassified securities, or expenses. The total impact may not equal the Fund’s returns. Holdings are subject to change. Data represents the equity portion of portfolio.

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.

An investor should consider the Funds’ investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information may be found in the prospectus (pdf). To obtain a print prospectus, call 800-432-7856. Please read the prospectus carefully before investing.

Heartland’s investing glossary provides definitions for several terms used on this page.

The Heartland Funds are distributed by ALPS Distributors, Inc.

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