MidCap Growth Fund



Seeks capital appreciation.


Invests in a diversified portfolio of equity securities of medium-sized companies that show the potential for above-average growth in earnings.

The Management Team

The Fund is managed by the Equity Strategy Team, a group of senior-level investment professionals who average 38 years of experience.


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In general, greater returns are associated with greater risks.

Fund Statistics

Inception Date 12/12/94
Ticker Symbol CFAGX
Cusip 200626505
Minimum Initial Investment $1,000


Following a strong rebound in equity markets last year, the first quarter would continue the advance, nearing the all-time high set in November of 2021 for the Russell MidCap Growth Index. Current economic releases still indicate moderate economic growth for 2024 and the prospects for a recession are pushed further into the future. The Commerce MidCap Growth Fund’s return of 6.46% trailed the Russell Mid Cap Growth Index return of 9.50%.

Stock selection detracted from the Fund’s performance. The Fund’s strongest stocks were Vontier Corp (1.23%), Bruker Corporation (1.22%), and Howmet Aerospace Inc. (1.22%), returning 31.36%, 27.92%, and 26.55%, respectively. The Fund’s top detractors were Dropbox, Inc. Class A (0.00%), Ionis Pharmaceuticals, Inc. (1.22%), and Universal Display Corporation (1.26%), returning -17.57%, -14.31%, and -11.71%, respectively.

The Fund’s sector allocations performed in-line with the Index for the quarter. The Fund’s 1.40% underweight to the Information Technology sector, returning 5.89%, added to performance as it was a weaker sector. The Index had a 23.67% weight in the Information Technology sector. The Fund’s 1.84% underweight to the Financials sector, returning 14.59%, detracted from performance as it was a stronger sector. The Index had a 10.75% weight in the Financials sector.

Total Fund Assets as of 3/31/2024 $222,694,083
Net Asset Value1 $46.30
Asset Allocation  
Equities 98.6%
Cash 1.4%
Weighted Average Market Capitalization 23.7 Billion


Top Ten Equity Holdings2 as of 3/31/2024

Donaldson Company Inc 1.4%
Dominos Inc 1.3%
MSA Safety Inc 1.3%
Teradyne Inc 1.3%
Blue Owl Capital Inc 1.3%
The Trade Desk Inc
Best Buy Company Inc 1.3%
Landstar System Inc 1.3%
Universal Display Corporation 1.3%
Travel and Leisure Company 1.3%

1. The Net Asset Value represents the assets of the fund (ex dividend) by the total number of shares.
2. The composition of the portfolio is subject to change in the future.
3. The Russell 1000 Growth Index is an unmanaged index that measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. The Index figures do not reflect any fees or expenses.

Portfolio Holdings

The Fund invests in mid-capitalization securities. The securities of mid-capitalization companies involve greater risks than those associated with larger, more established companies and may be subject to more abrupt or erratic price movements.

Holdings and allocations shown are unaudited, and may not be representative of current or future investments. Holdings and allocations may not include the Fund's entire investment portfolio, which may change at any time. Fund holdings should not be relied on in making investment decisions and should not be construed as research or investment advice regarding particular securities.

Commerce MidCap Growth Holdings

February 2024*
March 2024*
April 2024*

A prospectus for the Commerce Funds containing more complete information may be obtained by calling 1-800-995-6365 or by downloading it from this website. Please consider a Fund's objectives, risks, and charges and expenses, and read the prospectus carefully before investing. The prospectus contains this and other information about the Fund.

The mutual funds referred to in this Web site are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectus contains more complete information about the funds, including charges and expenses, and should be read carefully before investing.

The method of calculation of the 30-Day Standardized Subsidized Yield is mandated by the Securities and Exchange Commission and is determined by dividing the net investment income per share earned during the last 30 days of the period by the maximum public offering price (“POP”) per share on the last day of the period. This number is then annualized. The 30-Day Standardized Subsidized Yield reflects fee waivers and/or expense reimbursements recorded by the Fund during the period. Without waivers and/or reimbursements, yields would be reduced. This yield does not necessarily reflect income actually earned and distributed by the Fund and, therefore, may not be correlated with the dividends or other distributions paid to shareholders. The 30-Day Standardized Unsubsidized Yield does not adjust for any fee waivers and/ or expense reimbursements in effect. If the Fund does not incur any fee waivers and/or expense reimbursements during the period, the 30-Day Standard Subsidized Yield and 30-Day Standardized Unsubsidized Yield will be identical.