Heartland Value Plus Fund Sector Attribution

3Q18

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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
Communication Services------2.7910.620.29-2.79-10.62-0.29-0.24-----0.24
Consumer Discretionary9.0411.260.909.501.820.17-0.479.440.73-0.020.85-0.030.80
Consumer Staples0.30-6.74-0.062.62-6.95-0.18-2.320.210.120.19-0.070.070.19
Energy10.87-2.95-0.327.25-1.68-0.143.62-1.27-0.18-0.12-0.06-0.06-0.23
Financials18.11-1.79-0.1928.610.720.21-10.50-2.52-0.400.13-0.710.26-0.32
Health Care6.085.210.294.887.510.341.20-2.30-0.050.04-0.07-0.04-0.06
Industrials22.0811.472.4311.885.070.5810.206.401.850.340.720.601.66
Information Technology13.78-5.22-0.7810.491.460.153.28-6.69-0.93-0.01-0.70-0.27-0.98
Materials10.12-9.34-1.024.381.210.055.73-10.55-1.07-0.06-0.48-0.66-1.19
Real Estate6.0311.650.6611.71-0.86-0.09-5.6812.510.750.151.40-0.690.86
Utilities3.601.780.075.893.520.22-2.29-1.73-0.15-0.05-0.100.04-0.10
Total100.001.981.98100.001.611.61--0.370.370.360.79-0.780.37
Source: FactSet Research Systems lnc., holdings data as of 6/29/2018 to 9/27/2018 for Value Plus, 7/2/2018 to 9/28/2018 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
Communication Services0.2017.150.272.3617.620.41-2.16-0.47-0.14-0.280.52-0.140.11
Consumer Discretionary7.7538.722.729.4416.901.59-1.6921.821.13-0.191.75-0.171.39
Consumer Staples0.40-8.87-0.052.54-2.72-0.09-2.13-6.150.040.30-0.230.180.25
Energy10.13-0.13-0.166.8613.360.923.27-13.49-1.080.12-0.92-0.43-1.22
Financials19.375.461.4630.466.542.17-11.09-1.08-0.710.27-0.01-0.020.25
Health Care4.844.930.216.1026.041.51-1.26-21.10-1.30-0.57-1.280.75-1.10
Industrials23.1644.029.2412.0713.681.5511.0930.347.700.433.202.856.48
Information Technology14.199.881.509.013.140.255.186.741.25-0.330.490.500.66
Materials11.45-6.68-0.734.395.820.277.06-12.51-1.00-0.20-0.57-0.90-1.67
Real Estate5.3529.691.5710.593.060.31-5.2426.631.260.372.82-1.491.70
Utilities3.163.760.246.196.180.38-3.03-2.41-0.140.21-0.100.030.15
Total100.0016.2716.27100.009.289.28--6.986.980.135.691.166.98
Source: FactSet Research Systems lnc., holdings data as of 9/29/2017 to 9/27/2018 for Value Plus, 10/2/2017 to 9/28/2018 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
Communication Services0.2639.290.602.4125.650.64-2.1413.64-0.050.611.32-0.321.62
Consumer Discretionary9.4652.682.948.8538.563.460.6114.11-0.53-1.121.05-0.84-0.90
Consumer Staples1.97-7.050.842.8823.001.11-0.91-30.04-0.270.51-0.451.001.07
Energy9.359.072.925.655.730.743.693.342.18-1.831.080.840.09
Financials20.2170.9814.7630.6256.1516.67-10.4114.83-1.910.284.32-1.403.20
Health Care5.0522.961.485.1580.923.62-0.10-57.95-2.14-0.19-2.120.43-1.88
Industrials21.86115.4221.7112.2484.369.459.6231.0512.262.112.012.526.63
Information Technology14.0882.6111.029.7372.247.184.3610.373.840.780.600.141.52
Materials9.23-8.263.414.2195.783.895.02-104.04-0.481.74-3.70-1.74-3.70
Real Estate5.3179.353.1311.4836.645.32-6.1642.72-2.190.294.05-3.830.51
Utilities3.2239.591.966.7857.064.44-3.57-17.47-2.480.00-0.180.280.10
Total100.0064.7664.76100.0056.5256.52--8.248.243.168.00-2.928.24
Source: FactSet Research Systems lnc., holdings data as of 9/30/2015 to 9/27/2018 for Value Plus, 10/1/2015 to 9/28/2018 for Russell 2000® 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 Gross Fund Operating Expenses 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 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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