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JAMVX

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VIT Mid Cap Value Portfolio

Defensive Mid-Cap Value Equities
NAV As of 05/20/19 $16.20

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Fund Facts

Details Performance (As of 05/20/19) Morningstar (As of 04/30/19)
05/01/03 Inception Date
$108.72M Total Net Assets (As of 04/30/19)
GROSS 0.81%
NET 0.81%
Annual Expense Ratio
(As of fiscal year end 12/31/18)
Morningstar Fee Level (As of 04/30/19)
Fee Level Group
Mid Cap Institutional
(out of 426 funds)
Morningstar Fee Level Low
View Morningstar Fee Level
-0.55% 1 Day Return
15.06% YTD Return
Category
Mid-Cap Value
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

As defensive value specialists, we look to invest in high quality companies with strong management teams, stable balance sheets, and durable competitive advantages that are trading at attractive valuations. We seek to achieve excess returns over full market cycles, with less risk than our benchmark and peers as measured by standard deviation, beta and down market capture.

Why Invest in the Portfolio

    Attractive Reward/Risk

  1. Our disciplined valuation process measures downside risk before upside potential and invests in securities with favorable reward/risk ratios.
  2. High-Conviction Process

  3. The portfolio typically holds between 60 to 90 stocks with business fundamentals considered more important than fluctuations in the wider economy.
  4. Different Than the Benchmark

  5. The benchmark is not used as a starting point for portfolio construction, which should lead to high active share.

Featured Insights

Performance

RETURNS

(As of 03/31/2019)
(As of 04/30/2019)
Inception: May 01, 2003 3M YTD 1YR 3YR 5YR 10YR Since Inception
VIT Mid Cap Value Portfolio – IS Shares 13.92% 13.92% 0.91% 8.92% 6.52% 12.29% 10.19%
Russell Midcap® Value Index 14.37% 14.37% 2.89% 9.50% 7.22% 16.39% 11.05%
Inception: May 01, 2003 3M YTD 1YR 3YR 5YR 10YR Since Inception
VIT Mid Cap Value Portfolio – IS Shares 7.76% 18.32% 4.63% 10.02% 7.44% 11.47% 10.39%
Russell Midcap® Value Index 7.12% 18.14% 5.76% 9.91% 7.83% 14.98% 11.22%
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

MORNINGSTAR PERCENTILE

(As of 03/31/2019)
(As of 04/30/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 43 49 39 89 35
Mid-Cap Value Category
Rank/Count
182/424 173/396 121/366 280/315 75/234
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 38 46 36 88 36
Mid-Cap Value Category
Rank/Count
168/414 158/387 124/365 271/306 76/222

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 04/30/19 SERVICE SHARES)

RISK / REWARD
VS. RUSSELL MIDCAP® VALUE INDEX

3 YEAR 5 YEAR
Information Ratio -0.06 -0.25
Alpha 0.16 -0.12
Tracking Error 2.49 2.66
Beta 0.97 0.93
R-Squared (%) 95.71 95.22

UP AND DOWN MARKET CAPTURE (%)
VS. RUSSELL MIDCAP® VALUE INDEX

3 YEAR 5 YEAR
Up Capture Ratio 92.70 88.55
Down Capture Ratio 88.86 88.59

STANDARD DEVIATION

3 YEAR 5 YEAR
VIT Mid Cap Value Portfolio 11.90 11.57
Russell Midcap® Value Index 12.00 12.10

SHARPE RATIO

3 YEAR 5 YEAR
VIT Mid Cap Value Portfolio 0.72 0.55
Russell Midcap® Value Index 0.72 0.58

ANNUAL FEES & EXPENSES

(As of Fiscal Year End, 12/31/18)

INSTITUTIONAL SHARES
Management Fees 0.64%
12b-1 Fees -
Other Expenses 0.17%
Total Gross Expenses 0.81%
Waivers 0.00%
Total Net Expenses 0.81%
Net expense ratios reflect the expense waiver, if any, contractually agreed to through 5/1/20.

Characteristics

Index represents the Russell MidCap® Value Index.

TOP HOLDINGS

(As of 04/30/2019)

% of Portfolio
Evergy, Inc. 3.36
Equity LifeStyle Properties Inc 3.10
RenaissanceRe Holdings Ltd 3.04
Torchmark Corp 2.97
Equity Commonwealth 2.77
Hartford Financial Services Group Inc 2.75
M&T Bank Corp 2.70
First Horizon National Corp 2.63
Cedar Fair LP 2.60
Laboratory Corp of America Holdings 2.58
TOTAL 28.50

PORTFOLIO CHARACTERISTICS

(As of 04/30/19)

PORTFOLIO INDEX
Number of Holdings
Equity Issues
60
587
Market Capitalization
Weighted Average
$11.44B
$15.59B
Portfolio Turnover Rate
(1-year trailing)
37.14%
-
Price/Earnings Ratio
(1-year forward)
17.26
19.38
Price/Book Ratio
(1-year forward)
3.41
2.18
Earnings Growth Rate
(1-year forward)
9.29%
3.23%

DEVELOPED VS. EMERGING MARKET

(As of 04/30/19)

% OF PORTFOLIO % OF INDEX
U.S. 94.03 99.26
Non-U.S. Developed 1.82 0.29
Cash & Equivalents 4.15 -

SECTOR ALLOCATION

(As of 04/30/19)

% OF PORTFOLIO % OF INDEX
Financials 26.26 17.97
Real Estate 14.42 13.93
Industrials 14.02 12.40
Materials 11.76 5.96
Utilities 7.31 11.16
Information Technology 6.32 9.03
Energy 4.34 5.87
Consumer Discretionary 4.20 8.75
Health Care 3.36 6.86
Consumer Staples 2.83 4.94
Communication Services 1.03 3.13
Cash & Equivalents 4.15 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 04/30/2019)

% OF PORTFOLIO % OF INDEX
$10B to $50B 42.87 65.79
$5B to $10B 29.11 24.80
$1B to $5B 23.87 9.37

REGIONAL ALLOCATION

(As of 04/30/19)

% OF PORTFOLIO % OF INDEX
North America 94.87 99.26
Africa/Mideast 0.98 -
Cash & Equivalents 4.15 -

Commentary & Literature