Overview
| Objective | Seeks capital appreciation and, secondarily, current income. |
|---|---|
| Strategy | Invests in a diversified portfolio of equity securities of medium-sized companies that represent excellent value relative to their current price. The Fund seeks a higher return than the market index over time as the stocks it purchases rise in price to more normal valuations. |
| 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. |
| Risk/Return |  In general, greater returns are associated with greater risks. |
Fund Statistics
| Inception Date | 11/13/23 |
|---|---|
| Ticker Symbol | CFMVX |
| Cusip | 200626711 |
| Minimum Initial Investment | $1,000 |
Commentary
Value stocks showed moderate overall performance in Q2 2025. The quarter was marked by a turbulent start with
tariff concerns, promptly followed by a roll-back of the trade initiatives. Defensive sectors like energy and financials
held strong through the spring pullback and proceeded to benefit as investor optimism improved from easing tariff
tensions and supportive economic fundamentals. Even so, investors are still showing some reserve regarding an
acceleration in the economy in the second half of 2025, which is further reinforcing a cautious yet constructive
stance towards value stocks. The Commerce MidCap Value Fund’s return of 3.33% underperformed the Russell
MidCap Value Index return of 5.35%.
Stock selection detracted from the Fund’s performance. The Fund’s strongest contributors were Johnson Controls
International Plc (1.20%), Rockwell Automation, Inc. (1.22%), and Advance Auto Parts, Inc. (0.00%), returning
32.32%, 29.11%, and 24.78%, respectively. The Fund’s top detractors were Becton, Dickinson and Company
(0.00%), Texas Pacific Land Corporation (1.15%), and Clorox Company (1.15%), returning -25.96%, -20.16%, and
-17.74%, respectively.
The Fund’s sector allocation hindered performance for the quarter. The Fund’s 0.48% underweight in the Materials
sector, which returned 1.78%, added to performance as it was a weaker sector. The Index had an 6.51% weight
in the Materials sector. However, the Fund’s 1.02% underweight to the Industrials sector, which returned 11.73%,
detracted from performance as it was a stronger sector. The Index had an 16.96% weight in the Industrials sector
| Total Fund Assets as of 6/30/2025 | $38,674,009 |
|---|---|
| Net Asset Value1 | $23.99 |
| Asset Allocation | |
| Equities | 99.4% |
| Cash | 0.6% |
| Weighted Average Market Capitalization | 32.3 billion |
Top 10 Equity Holdings2 as of 3/31/2025
| iShares Russell MidCap Value | 3.1% |
|---|---|
| FedEx Corporation | 1.3% |
| Sysco Corporation | 1.3% |
| Advanced Auto Parts Inc. | 1.3% |
| Texas Pacific Land Corporation | 1.3% |
| CNA Financial Corporation | 1.3% |
| Darden Restaurants | 1.3% |
| Reliance Inc. | 1.3% |
| Amdocs Limited | 1.2% |
| Incredion Inc. | 1.2% |
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.