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Causeway International Small Cap Fund
mutual fund
CVISX
Payout Change
Pending
Price as of:
$13.55
+0.0
+0.0%
primary theme
International Mid-Cap Value Equity
share class
CVISX (Mutual Fund)
Causeway International Small Cap Fund
Payout Change
Pending
Price as of:
$13.55
+0.0
+0.0%
primary theme
International Mid-Cap Value Equity
share class
CVISX (Mutual Fund)
Causeway International Small Cap Fund
Payout Change
Pending
Price as of:
$13.55
+0.0
+0.0%
primary theme
International Mid-Cap Value Equity
share class
Name
As of 12/27/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
10.2%
1 yr return
10.2%
3 Yr Avg Return
7.3%
5 Yr Avg Return
8.9%
Net Assets
$219 M
Holdings in Top 10
16.9%
52 WEEK LOW AND HIGH
$13.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.56%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 112.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$5,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/27/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
CVISX - Profile
Distributions
- YTD Total Return 10.2%
- 3 Yr Annualized Total Return 7.3%
- 5 Yr Annualized Total Return 8.9%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.19%
- Dividend Yield 5.2%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameCauseway International Small Cap Fund
-
Fund Family NameCAUSEWAY CAPITAL MANAGEMENT TRUST
-
Inception DateOct 20, 2014
-
Shares Outstanding1801732
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerArjun Jayaraman
Fund Description
The Fund invests primarily in common stocks of companies with smaller market capitalizations located in developed and emerging markets outside the U.S. The Fund normally invests at least 80% of its total assets in equity securities of companies with smaller market capitalizations. Smaller market capitalization companies have market capitalizations that do not exceed the highest market capitalization of a company
included in the MSCI ACWI ex USA Small Cap Index (Net) (the “Small Cap Index”), at the time of purchase. As of December 31, 2023 the Small Cap Index included companies with market capitalizations of up to $7.6 billion, and included companies in both developed and emerging markets outside the U.S. Some of these companies, although small compared with larger U.S. companies, might be large companies in their local markets. The Fund may continue to invest in a company with a market capitalization that appreciates above the smaller market capitalization threshold and thus may from time to time hold less than 80% of its total assets in equity securities of companies with smaller market capitalizations. The Fund may invest in a wide range of industries.
The Investment Adviser uses a quantitative investment approach to purchase and sell investments for the Fund. To select securities, the Investment Adviser’s proprietary computer model analyzes “stock-specific” factors relating to valuation, sentiment, technical indicators, and competitive strength, and “top-down” factors relating to macroeconomics and country. Currently, the valuation factor category receives the highest overall weight in the model and stock-specific factors comprise approximately 90% of the score for a company. For each stock, the relative weight assigned to each stock-specific factor differs depending on its classification (for example, value, growth, momentum, capitalization or other classifications). The relative weights of these stock-specific factors are sometimes referred to as “contextual weights.” Factors and their weightings may change over time as the model is revised and updated, or if the classification of a stock changes. In addition to its quantitative research, the Investment Adviser’s fundamental research analysts review certain of the quantitative outputs to attempt to identify and address special issues, such as mergers and acquisitions or management changes, that may not be captured by the quantitative model.
If the Fund invests in a country, the percentage of the Fund’s total assets attributable to that country is not
expected to be greater than the weight of that country in the Small Cap Index, plus 5 percentage points, or less than the weight of that country in the Small Cap Index minus 5 percentage points. In addition, at the discretion of the Investment Adviser, the Fund may invest up to 10% of total Fund assets in foreign and emerging markets not included in the Small Cap Index. The Investment Adviser determines a company’s country by referring to: the stock exchange where its securities are principally traded; where it is registered, organized or incorporated; where its headquarters are located; its MSCI country classification; where it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed; or where at least 50% of its assets are located.
CVISX - Performance
Return Ranking - Trailing
| Period | CVISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 10.2% | -2.6% | 25.8% | 16.67% |
| 1 Yr | 10.2% | -2.9% | 23.8% | 16.67% |
| 3 Yr | 7.3%* | -1.9% | 16.9% | 19.61% |
| 5 Yr | 8.9%* | 1.7% | 19.8% | 20.41% |
| 10 Yr | 7.6%* | 4.1% | 8.9% | 24.00% |
* Annualized
Return Ranking - Calendar
| Period | CVISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 19.3% | -5.4% | 35.2% | 15.09% |
| 2022 | -13.9% | -22.7% | 5.8% | 41.18% |
| 2021 | 17.0% | -5.7% | 19.7% | 11.76% |
| 2020 | -1.0% | -10.7% | 30.9% | 75.51% |
| 2019 | 14.4% | 2.1% | 31.6% | 62.22% |
Total Return Ranking - Trailing
| Period | CVISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 10.2% | -2.6% | 25.8% | 16.67% |
| 1 Yr | 10.2% | -2.9% | 23.8% | 16.67% |
| 3 Yr | 7.3%* | -1.9% | 16.9% | 19.61% |
| 5 Yr | 8.9%* | 1.7% | 19.8% | 20.41% |
| 10 Yr | 7.6%* | 4.1% | 8.9% | 24.00% |
* Annualized
Total Return Ranking - Calendar
| Period | CVISX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 26.6% | 3.2% | 40.0% | 11.32% |
| 2022 | -11.5% | -22.3% | 6.4% | 49.02% |
| 2021 | 21.2% | 9.0% | 77.0% | 15.69% |
| 2020 | 2.5% | -10.3% | 37.2% | 77.55% |
| 2019 | 18.5% | 8.6% | 31.9% | 62.22% |
NAV & Total Return History
CVISX - Holdings
Concentration Analysis
| CVISX | Category Low | Category High | CVISX % Rank | |
|---|---|---|---|---|
| Net Assets | 219 M | 6.24 M | 10.9 B | 70.37% |
| Number of Holdings | 186 | 10 | 5165 | 42.59% |
| Net Assets in Top 10 | 38.1 M | 569 K | 3.34 B | 68.52% |
| Weighting of Top 10 | 16.88% | 2.7% | 104.2% | 62.96% |
Top 10 Holdings
- UNIPOL GRUPPO SPA COMMON STOCK 2.13%
- BANCA MONTE DEI PASCHI SIENA COMMON STOCK 1.85%
- JB HI-FI LTD COMMON STOCK 1.77%
- POWER FINANCE CORPORATION COMMON STOCK 1.72%
- KPIT TECHNOLOGIES LTD COMMON STOCK 1.67%
- CELESTICA INC COMMON STOCK 1.59%
- FINVOLUTION GROUP-ADR DEPOSITARY RECEIPT 1.58%
- CREDIT SAISON CO LTD COMMON STOCK 1.54%
- STIT GOVT AGENCY INST CLASS INSTITUTIONAL 1.52%
- SIMPLO TECHNOLOGY CO LTD COMMON STOCK 1.51%
Asset Allocation
| Weighting | Return Low | Return High | CVISX % Rank | |
|---|---|---|---|---|
| Stocks | 97.81% | 83.96% | 101.26% | 55.56% |
| Cash | 1.65% | 0.00% | 17.59% | 62.96% |
| Preferred Stocks | 0.55% | 0.00% | 4.76% | 27.78% |
| Convertible Bonds | 0.00% | 0.00% | 0.41% | 55.77% |
| Bonds | 0.00% | 0.00% | 11.41% | 53.70% |
| Other | 0.00% | -0.32% | 5.79% | 88.89% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | CVISX % Rank | |
|---|---|---|---|---|
| Industrials | 21.36% | 5.36% | 31.52% | 61.54% |
| Financial Services | 14.95% | 3.05% | 32.74% | 51.92% |
| Basic Materials | 12.98% | 1.74% | 28.84% | 30.77% |
| Consumer Cyclical | 11.61% | 4.00% | 24.14% | 42.31% |
| Technology | 10.77% | 0.00% | 18.01% | 34.62% |
| Energy | 7.68% | 0.00% | 19.25% | 34.62% |
| Real Estate | 7.06% | 0.00% | 16.01% | 40.38% |
| Consumer Defense | 6.55% | 3.45% | 18.05% | 44.23% |
| Communication Services | 3.15% | 0.00% | 8.94% | 71.15% |
| Utilities | 2.02% | 0.00% | 15.19% | 59.62% |
| Healthcare | 1.87% | 0.00% | 9.89% | 75.00% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | CVISX % Rank | |
|---|---|---|---|---|
| Non US | 94.65% | 0.00% | 99.47% | 50.00% |
| US | 3.16% | 0.00% | 99.94% | 44.44% |
CVISX - Expenses
Operational Fees
| CVISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.56% | 0.34% | 4.26% | 20.37% |
| Management Fee | 1.00% | 0.30% | 1.05% | 90.74% |
| 12b-1 Fee | N/A | 0.00% | 0.75% | N/A |
| Administrative Fee | N/A | 0.01% | 0.15% | 60.00% |
Sales Fees
| CVISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 5.75% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| CVISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | 66.67% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| CVISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 112.00% | 2.00% | 119.00% | 85.42% |
CVISX - Distributions
Dividend Yield Analysis
| CVISX | Category Low | Category High | CVISX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.20% | 0.00% | 8.78% | 12.96% |
Dividend Distribution Analysis
| CVISX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| CVISX | Category Low | Category High | CVISX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.19% | -0.10% | 4.33% | 7.69% |
Capital Gain Distribution Analysis
| CVISX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 20, 2024 | $0.705 | OrdinaryDividend |
| Dec 20, 2024 | $0.292 | CapitalGainShortTerm |
| Dec 20, 2024 | $0.433 | CapitalGainLongTerm |
| Dec 20, 2023 | $0.817 | OrdinaryDividend |
| Dec 22, 2022 | $0.314 | OrdinaryDividend |
| Dec 21, 2021 | $0.461 | OrdinaryDividend |
| Dec 17, 2020 | $0.387 | OrdinaryDividend |
| Dec 19, 2019 | $0.408 | OrdinaryDividend |
| Dec 20, 2018 | $0.290 | OrdinaryDividend |
| Dec 21, 2017 | $0.238 | CapitalGainShortTerm |
| Dec 21, 2017 | $0.479 | CapitalGainLongTerm |
| Dec 21, 2017 | $0.359 | OrdinaryDividend |
| Dec 22, 2016 | $0.262 | OrdinaryDividend |
| Mar 17, 2016 | $0.031 | OrdinaryDividend |
| Dec 23, 2015 | $0.210 | OrdinaryDividend |
CVISX - Fund Manager Analysis
Managers
Arjun Jayaraman
Start Date
Tenure
Tenure Rank
Oct 20, 2014
7.62
7.6%
Arjun Jayaraman, PhD, CFA, is head of the quantitative research group at Causeway Capital Management LLC. He has been a portfolio manager at the firm since January 2006. From 2004 to 2005, Dr. Jayaraman was a portfolio manager for quantitative strategies at PanAgora Asset Management. He was the lead portfolio manager of its non-U.S. large cap core equity portfolios and was the co-portfolio manager of its global large cap core equity portfolios. From 2000-2004, Dr. Jayaraman managed similar portfolios at Putnam Investments in addition to working closely with the teams that managed Putnam’s traditional non-U.S. strategies. Dr. Jayaraman has a BA in Economics from Columbia University, a PhD from New York University (Stern School of Business), and is a CFA charterholder.
MacDuff Kuhnert
Start Date
Tenure
Tenure Rank
Oct 20, 2014
7.62
7.6%
MacDuff Kuhnert, CFA, is a director of Causeway Capital Management LLC and performs quantitative research. He joined the firm in July 2001. His responsibilities include product development, asset allocation, risk management, and the design and implementation of proprietary valuation models and other quantitative tools. From 1996 to July 2001, Mr. Kuhnert worked for HW-MLIM as a quantitative research associate, where he created and developed advanced quantitative models used in the international value investment process. Mr. Kuhnert has a BA in Chemistry from Dartmouth College. He is a CFA charterholder and member of the Los Angeles Society of Financial Analysts and the Los Angeles Quantitative Investment Association.
Joe Gubler
Start Date
Tenure
Tenure Rank
Oct 20, 2014
7.62
7.6%
Joe Gubler, CFA, is a director of Causeway Capital Management LLC and performs quantitative research. He joined Causeway Capital Management LLC in April 2005. From 2002 to April 2005, Mr. Gubler worked as Director of Engineering for the MonsterTRAK division of Monster.com. He was responsible for a cross-functional team that developed, enhanced, and maintained the software that powers the monstertrak.com website. From 1999 to 2002, Mr. Gubler developed database-enabled web applications for a wide range of companies, including the National Academy of Recording Arts and Sciences, the Recording Industry Association of America, Disney, NameSafe.com, and Array Networks. While studying astrophysics at UC San Diego, Mr. Gubler worked as a Graduate Research Assistant in the Jet Propulsion Laboratory’s stellar interferometry group. Mr. Gubler has a BS, cum laude, in Physics from UC Irvine, an MS in Physics from UC San Diego, and an MBA from the UCLA Anderson Graduate School of Management. He is a CFA charterholder.
Ryan Myers
Start Date
Tenure
Tenure Rank
Jan 28, 2021
1.34
1.3%
Mr. Myers is a quantitative portfolio manager at Causeway. He joined the firm in June 2013 and has been a portfolio manager since January 2021. His responsibilities include alpha research, stock selection, and portfolio construction. From 2010 to 2012, Mr. Myers served as chief investment officer of Iron Castle Asset Management, an investment partnership focused on mid-cap U.S. equities. From 2007 to 2008, Mr. Myers worked as an analyst at Canyon Partners, where he covered the cable, media, telecom and satellite sectors. From 2005 to 2007, Mr. Myers was an associate for Oaktree Capital Management in the distressed opportunities group. Mr. Myers began his professional career in 2003 as an investment banking analyst at Goldman Sachs in the technology, media and telecom group. Mr. Myers earned a BA, magna cum laude, in economics from Harvard University, where he was elected to Phi Beta Kappa. He earned an MBA from the Stanford Graduate School of Business, where he was an Arjay Miller Scholar. Mr. Myers currently serves on the Board of Trustees of the Yosemite Conservancy, an organization dedicated to supporting projects and programs that preserve Yosemite National Park and enrich the visitor experience.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.06 | 26.6 | 7.22 | 10.34 |
