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JAMVX

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VIT Mid Cap Value Portfolio

Defensive Mid-Cap Value Equities
NAV As of 08/16/19 $15.16

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Fund Facts

Details Performance (As of 08/16/19) Morningstar (As of 07/31/19)
05/01/03 Inception Date
$111.20M Total Net Assets (As of 07/31/19)
GROSS 0.81%
NET 0.81%
Annual Expense Ratio
(As of fiscal year end 12/31/18)
Morningstar Fee Level (As of 07/31/19)
Fee Level Group
Mid Cap Institutional
(out of 433 funds)
Morningstar Fee Level Below Average
View Morningstar Fee Level
1.27% 1 Day Return
17.44% 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 06/30/2019)
(As of 07/31/2019)
Inception: May 01, 2003 3M YTD 1YR 3YR 5YR 10YR Since Inception
VIT Mid Cap Value Portfolio – IS Shares 4.65% 19.22% 3.74% 9.32% 6.45% 11.00% 10.33%
Russell Midcap® Value Index 3.19% 18.02% 3.68% 8.95% 6.72% 14.56% 11.09%
Inception: May 01, 2003 3M YTD 1YR 3YR 5YR 10YR Since Inception
VIT Mid Cap Value Portfolio – IS Shares 2.20% 20.93% 2.58% 8.59% 7.35% 10.30% 10.37%
Russell Midcap® Value Index 0.73% 19.00% 1.78% 7.75% 7.53% 13.59% 11.08%
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 06/30/2019)
(As of 07/31/2019)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 24 47 36 87 36
Mid-Cap Value Category
Rank/Count
115/422 163/395 122/373 274/314 80/236
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking (%) 19 39 36 87 36
Mid-Cap Value Category
Rank/Count
90/421 141/395 126/373 271/314 79/236

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 SERVICE SHARES)

RISK / REWARD
VS. RUSSELL MIDCAP® VALUE INDEX

3 YEAR 5 YEAR
Information Ratio 0.22 -0.17
Alpha 0.85 0.10
Tracking Error 2.54 2.72
Beta 0.96 0.92
R-Squared (%) 96.19 95.46

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

3 YEAR 5 YEAR
Up Capture Ratio 94.05 88.62
Down Capture Ratio 87.66 87.64

STANDARD DEVIATION

3 YEAR 5 YEAR
VIT Mid Cap Value Portfolio 12.71 11.97
Russell Midcap® Value Index 13.03 12.64

SHARPE RATIO

3 YEAR 5 YEAR
VIT Mid Cap Value Portfolio 0.54 0.52
Russell Midcap® Value Index 0.49 0.53

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 07/31/2019)

% of Portfolio
Evergy, Inc. 3.26
RenaissanceRe Holdings Ltd 3.04
Torchmark Corp 3.03
Equity LifeStyle Properties Inc 2.93
Equity Commonwealth 2.86
M&T Bank Corp 2.84
Hartford Financial Services Group Inc 2.76
Laboratory Corp of America Holdings 2.54
Axis Capital Holdings Ltd 2.54
Lamar Advertising Co 2.43
TOTAL 28.23

PORTFOLIO CHARACTERISTICS

(As of 07/31/19)

PORTFOLIO INDEX
Number of Holdings
Equity Issues
62
627
Market Capitalization
Weighted Average
$12.35B
$14.93B
Portfolio Turnover Rate
(1-year trailing)
43.13%
-
Price/Earnings Ratio
(1-year forward)
17.93
19.51
Price/Book Ratio
(1-year forward)
3.40
2.36
Earnings Growth Rate
(1-year forward)
5.16%
1.02%

DEVELOPED VS. EMERGING MARKET

(As of 07/31/19)

% OF PORTFOLIO % OF INDEX
U.S. 95.06 99.57
Non-U.S. Developed 0.89 0.36
Cash & Equivalents 4.05 -

SECTOR ALLOCATION

(As of 07/31/19)

% OF PORTFOLIO % OF INDEX
Financials 25.39 19.25
Real Estate 14.35 13.74
Industrials 13.09 11.51
Materials 9.55 6.73
Information Technology 9.21 7.48
Utilities 7.13 10.95
Consumer Discretionary 4.70 8.96
Energy 3.66 5.99
Health Care 3.55 7.04
Consumer Staples 3.49 4.33
Communication Services 1.83 4.02
Cash & Equivalents 4.05 -

MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS

(As of 07/31/2019)

% OF PORTFOLIO % OF INDEX
$10B to $50B 46.16 63.14
$5B to $10B 29.57 26.53
$1B to $5B 20.22 10.32

REGIONAL ALLOCATION

(As of 07/31/19)

% OF PORTFOLIO % OF INDEX
North America 95.06 99.57
Africa/Mideast 0.89 -
Cash & Equivalents 4.05 -

Commentary & Literature