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JDNNX

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Growth and Income Fund

Large-Cap Growth Equities with Income Potential
NAV As of 08/16/19 $56.72

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Fund Facts

Details Yields Morningstar (As of 07/31/19)
07/02/09 Inception Date
$6.23B Total Net Assets (As of 07/31/19)
GROSS 0.65%
NET 0.65%
Annual Expense Ratio
(As of fiscal year end 09/30/18)
Morningstar Fee Level (As of 07/31/19)
Fee Level Group
Large Cap Institutional
(out of 1143 funds)
Morningstar Fee Level Below Average
View Morningstar Fee Level
2.02% Distribution Yield at NAV
(As of 06/30/19)
30 Day SEC Yield (As of 07/31/19)
With Waivers 2.00%
Without Waivers 2.00%
Quarterly Distribution Frequency
Performance (As of 08/16/19)
1.50% 1 Day Return %
14.46% YTD Return
Category
Large Blend
ic_star ic_star ic_star ic_star
1207 Funds Rated
Overall Rating
(Based on risk-adjusted returns)
bronze Analyst Rating
LARGE VALUE
LARGE BLEND
LARGE GROWTH
MID VALUE
MID BLEND
MID GROWTH
SMALL VALUE
SMALL BLEND
SMALL GROWTH
Equity Style Box *
Important Morningstar Information

Overview

Client Commitment

A large-cap equity fund seeking to provide growth of capital and quarterly income. The fund leverages our in-depth fundamental research to invest in what we believe to be well-established companies characterized by sustainable growth and high or rising dividends.

Why Invest in the Fund

    Dividend-Paying Growth Opportunities

  1. The Fund seeks growth companies that have paid or increased dividends over time, which can be indicators of corporate stability and growth potential.
  2. Strategic Capital Allocation

  3. The Fund seeks to invest in well-established companies that are intelligently allocating capital to both fund growth and pay dividends.
  4. Complementary Source of Income

  5. This Fund may provide investors with an equity income source that could complement fixed income allocations while providing the potential for long-term growth of capital.

Dividend Growers Have Had Higher Returns with Less Risk

Annualized Monthly Returns and Standard Deviation of S&P 500 Stocks by Dividend Category
Chart: Annualized Monthly Returns and Standard Deviation of S&P 500 Stocks by Dividend Category

Dividend policy indices are equal-dollar-weighted with monthly rebalancing.
Past performance is no guarantee of future results.
Source: Ned Davis Research (March 1972-April 2019)

Featured Insights

Performance

RETURNS

(As of 06/30/2019)
(As of 07/31/2019)
Inception: Jul 02, 2009 3M YTD 1YR 3YR 5YR 10YR Since Inception
Growth and Income Fund – N Shares 3.94% 14.96% 11.72% 15.07% 10.83% 13.45% 10.77%
S&P 500® Index 4.30% 18.54% 10.42% 14.19% 10.71% 14.70% 9.90%
Inception: Jul 02, 2009 3M YTD 1YR 3YR 5YR 10YR Since Inception
Growth and Income Fund – N Shares 1.92% 17.22% 9.26% 14.71% 11.76% 12.84% 10.81%
S&P 500® Index 1.69% 20.24% 7.99% 13.36% 11.34% 14.03% 9.92%
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
View Fees and Expenses
Performance for Class N Shares that includes periods prior to 8/4/17 reflects the performance of another share class of the Fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details concerning historical performance.

MORNINGSTAR PERCENTILE

(As of 06/30/2019)
(As of 07/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 17 5 8 50 4
Large Blend Category
Rank/Count
231/1429 61/1303 67/1216 477/1054 28/347
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 20 3 7 50 4
Large Blend Category
Rank/Count
272/1433 34/1310 53/1233 473/1061 26/347

CALENDAR YEAR PERFORMANCE

GROWTH OF A $10,000 HYPOTHETICAL INVESTMENT

Source: Morningstar, Inc.
This graph compares fund performance to that of the fund’s Morningstar category average and benchmark(s).

RETURNS-BASED STATISTICS

(As of 07/31/19 CLASS I SHARES)

RISK / REWARD
VS. S&P 500® INDEX

3 YEAR 5 YEAR
Information Ratio 0.50 0.22
Alpha 2.33 1.24
Tracking Error 3.06 2.71
Beta 0.92 0.94
R-Squared (%) 93.61 94.89

UP AND DOWN MARKET CAPTURE (%)
VS. S&P 500® INDEX

3 YEAR 5 YEAR
Up Capture Ratio 101.21 97.04
Down Capture Ratio 89.89 90.29

STANDARD DEVIATION

3 YEAR 5 YEAR
Growth and Income Fund 11.57 11.52
S&P 500® Index 12.10 11.99

SHARPE RATIO

3 YEAR 5 YEAR
Growth and Income Fund 1.17 0.96
S&P 500® Index 0.99 0.87

ANNUAL FEES & EXPENSES

(As of Fiscal Year End, 09/30/18)

CLASS N SHARES
Management Fees 0.60%
12b-1 Fees -
Other Expenses 0.05%
Total Gross Expenses 0.65%
Waivers 0.00%
Total Net Expenses 0.65%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 2/1/20.

Characteristics

Index represents the S&P 500® Index.

TOP HOLDINGS

(As of 07/31/2019)

% of Fund
Microsoft Corp 5.49
McDonald's Corp 3.35
Apple Inc 3.30
JPMorgan Chase & Co 3.29
Merck & Co Inc 3.20
Texas Instruments Inc 3.14
Accenture PLC 3.10
CME Group Inc 3.09
Boeing Co 2.99
US Bancorp 2.67
TOTAL 33.62

PORTFOLIO CHARACTERISTICS

(As of 07/31/19)

FUND INDEX
Number of Holdings
Equity Issues
66
505
Market Capitalization
Weighted Average
$193.21B
$249.56B
Portfolio Turnover Rate
(1-year trailing)
14.66%
-
Price/Earnings Ratio
(1-year forward)
18.57
21.16
Price/Book Ratio
(1-year forward)
6.26
5.80
Earnings Growth Rate
(1-year forward)
5.34%
5.31%

DEVELOPED VS. EMERGING MARKET

(As of 07/31/19)

% OF FUND % OF INDEX
U.S. 99.92 99.46
Cash & Equivalents 0.08 -

SECTOR ALLOCATION

(As of 07/31/19)

% OF FUND % OF INDEX
Information Technology 24.20 21.83
Financials 14.68 13.23
Health Care 14.58 13.77
Consumer Discretionary 13.89 10.15
Industrials 13.73 9.30
Consumer Staples 8.34 7.34
Communication Services 4.57 10.45
Energy 2.72 4.88
Real Estate 1.64 3.06
Materials 1.57 2.74
Cash & Equivalents 0.08 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 07/31/2019)

% OF FUND % OF INDEX
Over $100B 53.28 54.60
$50B to $100B 18.52 15.34
$10B to $50B 26.81 27.81
$1B to $5B 1.31 0.06

REGIONAL ALLOCATION

(As of 07/31/19)

% OF FUND % OF INDEX
North America 99.92 99.46
Cash & Equivalents 0.08 -

Commentary & Literature

2Q19 Portfolio Commentary Highlights

  • Equities wavered during the period, but ultimately finished higher.
  • While the Fund captured a significant portion of the period’s upside, it ultimately underperformed its benchmark.
  • Slowing economic growth and an array of geopolitical concerns are reasons for caution, but our outlook for equities is positive overall, supported in part by potential monetary easing in the U.S.

Read The Full Commentary