U.S. Equity Index Fund (USEIF)

Fund Overview: Objective, Strategy and Holdings

The U.S. Equity Index Fund (USEIF) shall invest in a portfolio of common stocks as represented by the Russell 3000® index.

The Fund generally does not invest in companies that derive more than 10% of their revenue from gambling or from the manufacture, sale or distribution of alcoholic beverages, tobacco-related products, adult entertainment, weapons, or the management or operation of prison facilities.

 


Performance, Net of Fees

 

Performance Review

 

Characteristics

 

Holdings

 

Expense Ratio

 

Risks and Disclosures

 

 


Performance, Net of Fees - March 31, 2019

  3 mo YTD 1 yr 3 yr 5 yr 10 yr Since
Inception
U.S. Equity Index Fund 13.72% 13.72% 8.94% 13.15% N/A N/A 9.29%
Fund Benchmark 14.04% 14.04% 8.77% 13.49% N/A N/A 9.71%
 

See Risks and Disclosures for more information regarding Net of Fees Performance.

 

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Performance Review

For market and fund commentary, please review the Monthly Investment Report.

 

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Characteristics as of March 31, 2019

  USEIF 1 USEIF Benchmark
Wgt. Mkt. Cap ($MM) $194,102 $194,369
Price/Earnings 23.9 23.3
Price to Book 3.1 3.2
Dividend Yield2 1.9% 1.9%
# of Stocks 2,201 2,977


1 Reflects the portion of the fund portfolio that is invested in public equities and REITs.

2 Does not reflect the deduction of fees.

 

Risk Characteristics as of March 31, 2019

Statistics (trailing 5 years) USEIF USEIF Benchmark
Beta 1.00 1.00
R-Squared 1.00 1.00

 

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Fund Holdings as of March 31, 2019

Top 10 Stock Holdings

Company % of Portfolio
Apple Inc. 3.2%
Microsoft Corporation 3.1%
Amazon.com, Inc. 2.6%
Alphabet, Inc. 2.5%
Facebook Inc. 1.4%
Berkshire Hathaway Inc. 1.4%
Johnson & Johnson 1.3%
JPMorgan Chase & Co. 1.2%
Exxon Mobil Corp. 1.2%
Visa Inc. 1.0%

A complete list of fund holdings is also available.


Sector Weightings as of March 31, 2019

USEF_chart3

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Expense Ratio

For 2018, USEIF’s expenses were equal to 0.30% of the Fund’s total assets.

 

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Risk and Disclosures

All investments carry some degree of risk that will affect the value of the Fund’s holdings, its investment performance and the price of its units. As a result, loss of money is a risk of investing in the Fund. USEIF is subject to the following principal investment risks: market risk, investment style risk, security-specific risk, country risk, currency risk, derivatives risk and liquidity risk.

Historical returns are not indicative of future performance. For further discussion of the Fund’s investments strategies and risks, please refer to the Wespath Investment Funds Description and related documents. This is not an offer to purchase securities.

 

Lending of Portfolio Securities

The Fund seeks to earn additional income by lending a portion of its portfolio securities to brokers, dealers and other financial institutions. The loans are secured at all times by cash and liquid high-grade debt obligations. As with any extension of credit, there are risks of delay in recovery and in some cases even loss of rights in the collateral should the borrower fail financially. In addition, losses could result from the reinvestment of the cash collateral received on loaned securities.

 

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USEIF Benchmark


The U.S. Equity Index Fund performance benchmark is the Russell 3000 Index. The index measures the investment performance of the 3,000 largest (based on total market value) U.S. companies, representing approximately 98% of the publicly traded companies available for investment in the U.S. equity market.

Fund Facts

Inception December 31, 2014
Exp. Ratio 0.30% for 2018
Benchmark Russell 3000™ Index
Fund Assets $54 Million as of April 30, 2019
Holdings (PDF) March 31, 2019
Holdings (XLS) April 30, 2019
Unit Price History (XLS) Wespath Funds Price History
For More Information Summary Fund Descriptions – P Series and Investment Funds Description – P Series and the related Statement of Additional Information.
 

Fund Managers

The following individuals are responsible for the selection and monitoring of external asset managers:

frank-holsteen

Frank Holsteen

Director, Public Equities and Fixed Income
With Wespath since 2012
B.A. from Lake Forest College
 
 
brian_boyer

Brian Boyer, CFA

Director, Private Markets
With Wespath since 2003
B.A. and B.E. from Dartmouth College
MBA from The Wharton School at the University of Pennsylvania
CFA Charterholder
 
mark_warren

Mark Warren, CFA, CIMA

Manager, Public Equities
With Wespath since 2015
B.S. from Purdue University
CFA Charterholder
CIMA Certification
 

Management

Blackrock is the primary sub-adviser of USEIF. The Fund employs a passive investment strategy. The performance Benchmark for USEIF is the Russell 3000® index.

Asset Managers

* Signatory to the United Nations Principles for Responsible Investment

 
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