Heartland Mid Cap Value Fund Sector Attribution

3Q18

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Mid Cap ValueRussell Midcap® ValueVariationAttribution Analysis
Economic SectorAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAllocation EffectSelection EffectInteraction EffectTotal Effect
Communication Services2.56-10.05-0.313.175.860.18-0.61-15.91-0.49-0.03-0.510.07-0.47
Consumer Discretionary7.667.450.549.120.130.02-1.477.320.530.060.65-0.140.58
Consumer Staples2.82-21.66-0.725.00-0.39-0.02-2.18-21.27-0.700.08-1.170.45-0.64
Energy10.42-1.47-0.217.611.360.092.81-2.83-0.31-0.11-0.21-0.09-0.41
Financials17.504.740.8518.131.430.28-0.633.300.570.020.59-0.020.59
Health Care11.377.820.836.629.230.594.75-1.410.240.27-0.08-0.110.08
Industrials18.0012.022.0012.249.601.125.762.430.890.350.270.110.73
Information Technology5.647.930.528.887.780.66-3.240.15-0.14-0.070.04-0.01-0.04
Materials6.6912.580.916.20-1.03-0.070.4913.610.97-0.020.830.140.95
Real Estate7.30-3.06-0.2013.030.590.11-5.73-3.65-0.310.16-0.490.23-0.11
Utilities10.043.930.4110.003.140.320.040.790.090.010.08-0.010.08
Total100.004.634.63100.003.293.29--1.341.340.720.010.611.34
Source: FactSet Research Systems lnc., holdings data as of 6/29/2018 to 9/27/2018 for Mid Cap Value, 7/2/2018 to 9/28/2018 for Russell Midcap® Value

 

1-Year

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Mid Cap ValueRussell Midcap® ValueVariationAttribution Analysis
Economic SectorAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAllocation EffectSelection EffectInteraction EffectTotal Effect
Communication Services1.27-11.02-0.273.1328.180.80-1.87-39.20-1.07-0.24-0.760.11-0.90
Consumer Discretionary7.5124.671.979.664.330.45-2.1520.341.520.141.89-0.511.52
Consumer Staples2.77-16.59-0.424.171.770.08-1.40-18.36-0.500.16-0.940.41-0.37
Energy10.846.370.648.1320.541.662.71-14.17-1.020.28-1.09-0.39-1.20
Financials19.267.701.4519.996.541.36-0.731.160.090.020.150.040.21
Health Care10.8925.032.716.5211.850.724.3713.181.990.220.810.531.56
Industrials17.2415.842.7612.088.150.945.157.681.810.100.900.341.33
Information Technology7.7116.821.196.7218.201.160.99-1.380.030.16-0.04-0.21-0.09
Materials7.0916.501.235.766.690.371.349.800.850.050.600.090.75
Real Estate7.0622.141.7013.613.090.54-6.5519.051.160.422.66-1.231.85
Utilities8.3622.301.9810.236.430.71-1.8815.861.270.341.54-0.401.48
Total100.0014.9414.94100.008.808.80--6.146.141.665.72-1.246.14
Source: FactSet Research Systems lnc., holdings data as of 9/29/2017 to 9/27/2018 for Mid Cap Value, 10/2/2017 to 9/28/2018 for Russell Midcap® Value

 

3-Year

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Mid Cap ValueRussell Midcap® ValueVariationAttribution Analysis
Economic SectorAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAverage WeightTotal ReturnContrib. to ReturnAllocation EffectSelection EffectInteraction EffectTotal Effect
Communication Services0.42-11.02-0.273.0555.941.54-2.63-66.96-1.810.16-0.680.19-0.33
Consumer Discretionary7.8358.744.858.2624.812.24-0.4233.932.620.422.78-0.332.87
Consumer Staples3.35-17.22-0.343.9123.391.18-0.55-40.62-1.530.63-2.020.26-1.13
Energy11.0021.383.698.7631.342.842.24-9.960.850.620.05-0.91-0.24
Financials20.4872.8814.2219.4850.848.720.9922.035.500.373.200.984.55
Health Care8.4791.286.835.7020.600.862.7770.685.97-0.023.671.435.08
Industrials16.7874.9312.2411.7766.947.405.007.994.841.380.710.472.56
Information Technology11.1835.474.497.64100.116.543.55-64.64-2.051.46-3.75-2.06-4.36
Materials6.18111.646.145.9070.084.120.2841.552.010.461.88-0.351.99
Real Estate7.1578.365.5914.2423.093.81-7.0855.271.782.026.83-3.585.27
Utilities7.1576.855.3511.3041.045.40-4.1535.81-0.04-0.343.38-1.161.87
Total100.0062.7962.79100.0044.6544.65--18.1418.147.1616.05-5.0618.14
Source: FactSet Research Systems lnc., holdings data as of 9/30/2015 to 9/27/2018 for Mid Cap Value, 10/1/2015 to 9/28/2018 for Russell Midcap® Value

 

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

©2018 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 5/1/2018, the Net Fund Operating Expenses for the investor and institutional classes of the Mid Cap Value Fund are 1.25% and 0.99%, respectively. The Advisor has contractually agreed to waive its management fees and/or reimburse expenses of the Fund to ensure that Net Fund Operating Expenses for the Fund do not exceed 1.25% of the Fund’s average net assets for the investor class shares and 0.99% for the institutional class shares, through at least 5/1/2019, and subject thereafter to annual reapproval of the agreement by the Board of Directors. Without such waiver and/or reimbursements, the Gross Fund Operating Expenses would be 2.50% for the investor class shares and 2.45% for the institutional class shares.

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 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 are sourced from GICS®.The Global Industry Classification Standard (GICS®) is the exclusive intellectual property of MSCI Inc. (MSCI) and S&P Global Market Intelligence (“S&P”).  Neither MSCI, S&P, their affiliates, nor any of their third party providers (“GICS Parties”) makes any representations or warranties, express or implied, with respect to GICS or the results to be obtained by the use thereof, and expressly disclaim all warranties, including warranties of accuracy, completeness, merchantability and fitness for a particular purpose.  The GICS Parties shall not have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of such damages.

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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