DFSV

DFSV reaches across sectors to evaluate companies in the bottom 10% of the US total stock market. The fund's adviser utilizes their own proprietary research to select small-cap stocks with a lower relative price to their own book value and higher profitability than others in the segment of the market. Positions may be increased or reduced based on short-term criteria such as, momentum and investment opportunity. While the fund is actively managed, the adviser seeks to reduce trading costs by considering market liquidity for securities, managing turnover, and explicit transaction costs. The issuer credits this combination of research, portfolio design, portfolio management, and trading processes to be the long-term drivers of expected returns. The use of derivatives is permitted to leverage or decrease exposure and manage cash flow. The fund can also lend underlying securities to generate additional income.