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 demonstrated relative resilience amid the turbulent market conditions of Q1 2025. As tariff discussions came more into focus, investors increasingly paid attention to companies that source a lot of supplies and/or products from other countries. The overarching concerns regarding inflation and the potential for an economic slowdown due to escalating trade tensions continue to negatively influence the equity markets. The Commerce MidCap Value Fund’s return of -1.24% outperformed the Russell MidCap Value Index return of -2.11%.
Stock selection added to the Fund’s performance. The Fund’s strongest contributors were Consolidated Edison, Inc. (1.23%), Texas Pacific Land Corporation (1.25%), and UGI Corporation (1.20%), returning 25.04%, 19.95%, and 18.47%, respectively. The Fund’s top detractors were Skyworks Solutions, Inc. (1.15%), Target Corporation (1.20%), and Thor Industries, Inc. (1.15%), returning -26.35%, -22.12%, -20.38%, respectively.
The Fund’s sector allocation performed in line for the quarter. The Fund’s 0.64% underweight in the Information Technology sector, which returned -11.02%, added to performance as it was the worst performing sector. The Index had an 9.08% weight in the Information Technology sector. However, the Fund’s 0.84% underweight to the Energy sector, which returned 6.13%, detracted from performance as it was a stronger sector. The Index had an 5.90% weight in the Energy sector.
| Total Fund Assets as of 3/31/2025 | $37,704,938 |
|---|---|
| Net Asset Value1 | $23.35 |
| Asset Allocation | |
| Equities | 99.4% |
| Cash | 0.6% |
| Weighted Average Market Capitalization | 32.7 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.