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Objective
Seeks long-term capital appreciation.
Overview
A stock fund that invests exclusively in health care, a sector that is experiencing innovations and breakthroughs across multiple subsectors.
Portfolio Management
4
YRS
MANAGING THIS FUND
17
YRS
AT WELLINGTON MANAGEMENT
19
YRS
EXPERIENCE IN THIS INDUSTRY
3
YRS
MANAGING THIS FUND
9
YRS
AT WELLINGTON MANAGEMENT
17
YRS
EXPERIENCE IN THIS INDUSTRY
2
YRS
MANAGING THIS FUND
11
YRS
AT WELLINGTON MANAGEMENT
25
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio managers are supported by the full resources of Wellington.
Performance
PERFORMANCE %
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
SI = Since Inception. Fund Inception: 05/01/2000
Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.
Characteristics
FUND STATS
| # of Holdings | 101 |
|---|---|
| % in Equities | 98 |
| % in Foreign Equities | 14 |
| Beta (3 year) | 1.02 |
| R Squared (3 year) | 0.92 |
| Standard Deviation | 15.32% |
| Turnover | 32% |
| Active Share | 48% |
Holdings Characteristics
| FUND | S&P Composite 1500 Health Care Index | |
|---|---|---|
| Price/Earnings | 27.6x | 17.4x |
| Price/Book | 5.4x | 5.0x |
| EPS Growth Rate | 21.8% | 17.0% |
| Asset Weighted Market Cap (billions) | $217.9 | $256.6 |
| Return on Equity | 18.9% | 32.9% |
| Median Market Cap (billions) | $9.2 | $6.8 |
Regional Exposure (%)
Top Ten Holdings (%)
| Eli Lilly & Co. | 10.98 |
| UnitedHealth Group, Inc. | 9.63 |
| Merck & Co., Inc. | 4.14 |
| Intuitive Surgical, Inc. | 3.92 |
| Boston Scientific Corp. | 3.69 |
| Danaher Corp. | 3.56 |
| Thermo Fisher Scientific, Inc. | 2.85 |
| Vertex Pharmaceuticals, Inc. | 2.73 |
| HCA Healthcare, Inc. | 2.18 |
| Johnson & Johnson | 2.03 |
| Total Portfolio % | 45.71 |
Market Cap Distribution (%)
| Less than $2 billion | 3 | |
| $2 billion - $5 billion | 11 | |
| $5 billion - $10 billion | 6 | |
| Greater than $10 billion | 80 | |
| Not Classified | 0 | |
RETURN CHARACTERISTICS
|
Alpha (5 Year)
|
-1.53 |
|
Down Capture (5 Year)
|
102.46 |
|
Information Ratio (5 Year)
|
-0.35 |
|
Sharpe Ratio (5 Year)
|
0.58 |
|
Up Capture (5 Year)
|
95.84 |
Subsector Exposure (%)
Based on sub-adviser's classification of health care subsectors, which includes combining biotechnology and pharmaceuticals in terms of capitalization: biopharma small-cap, biopharma mid-cap, and biopharma large-cap. Excludes cash. May not total to 100% due to rounding.
Past distributions are not indicative of future distributions.
Insights
Fund Literature
09/30/2024 - PDF (179 KB)
This client flyer summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance
09/30/2024 - PDF (142 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
09/30/2024 - PDF (265 KB)
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
PDF (157 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
09/30/2024 - PDF (301 KB)
This Pitchbook reviews the Fund's investment approach, investment team, investment process, and general portfolio parameters.
An unaudited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A legal document that discloses essential information about a fund, including investment objectives, risks, fees, expenses, fund manager background and other information.
An audited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Risks of focusing investments on the healthcare related sector include regulatory and legal developments, changes in funding or subsidies, patent and intellectual property considerations, intense competitive pressures, rapid technological changes, long and costly process for obtaining product approval by government agencies, potential product obsolescence, rising cost of medical products and services, and price volatility risk. • Small- and mid-cap securities can have greater risks and volatility than large-cap securities. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. These risks may be greater, and include additional risks, for investments in emerging markets.
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