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MidCap Value
Overview
Objective
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
LOW - - - - - • - HIGH
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 saw a small pull back in the fourth quarter to end the year. Many investors were focused throughout the quarter on the Federal Reserve rate cuts and their accompanying commentary. The election also proceeded smoothly with many parts of the markets reacting favorably to the outcome. The Commerce MidCap Value Fund’s return of -2.70% underperformed the Russell MidCap Value Index return of -1.75%.
Stock selection was the primary detractor from the Fund’s performance. The Fund’s strongest contributors were Texas Pacific Land Corporation (1.05%), Unum Group (1.24%), and Allison Transmission Holdings, Inc. (0.00%), returning 25.14%, 23.70%, and 19.36%, respectively. The Fund’s top detractors were Celanese Corporation (1.20%), Huntington Ingalls Industries, Inc. (1.23%), and HCA Healthcare Inc (1.18%), returning -48.81%, -28.04%, and -25.99%, respectively.
The Fund’s sector allocation performed in line for the quarter. The Fund’s 0.43% underweight in the Health Care sector, which returned -10.37%, added to performance as it was a weaker sector. The Index had an 8.45% weight in the Health Care sector. However, the Fund’s 0.89% underweight to the Communication Services sector, which returned 5.01%, detracted from performance as it was a stronger sector. The Index had a 3.25% weight in the Communications Services sector.
| Total Fund Assets as of 12/31/2024 | $37,511,289 |
|---|---|
| Net Asset Value1 | $23.79 |
| Asset Allocation | |
| Equities | 99.1% |
| Cash | 0.9% |
| Weighted Average Market Capitalization | 28.3 Billion |
Holdings
Top Ten Equity Holdings2 as of 12/31/2024
| iShares Russell MidCap Value | 3.8% |
|---|---|
| Darden Restaurants Inc | 1.4% |
| Becton Dickinson & Company | 1.3% |
| Kellanova | 1.3% |
| FedEx Corporation | 1.3% |
| Target Corporation | 1.3% |
| UGI Corporation | 1.3% |
| Advanced Auto Parts Inc | 1.3% |
| MetLife Inc | 1.3% |
| Williams Companies | 1.3% |
Footnotes:
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 Midcap Value Index is an unmanaged index that measures the performance of those Russell Midcap companies with lower priceto-book ratios and lower forecasted growth values. The Index figures do not reflect any deduction for Fees, expenses, or taxes. It is not possible to invest directly in an unmanaged index
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 Value Holdings
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.