EntrepreneurShares IMPAX Factsheet Q1 2018

As of 03.31.2018


The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-877-271- 8811 or visiting www.ershares.com. Read it carefully before investing. Distributed by Rafferty Capital Markets, LLC, Garden City, NY 11530. The Entrepreneur U.S. Small Cap Fund invests in smaller companies, which involve additional risks such as limited liquidity and greater volatility. The Fund is exposed to common stock risk. Common Stock prices fluctuate based on changes in a company’s financial condition and on overall market and economic conditions. Additional risks are detailed in the prospectus. The Russell 2000 Total Return Index is a subset of the Russell 3000 Total Return Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. The Russell 2000 Growth Index is composed of small-capitalization US equities that exhibit growth characteristics. Alpha compares the risk-adjusted performance of a portfolio to a benchmark index. A positive alpha means the portfolio has outperformed the index on a risk-adjusted basis. Beta is a measure of the volatility of a portfolio in comparison to a benchmark index. Less than one means the portfolio is less volatile than the index, while greater than one indicates more volatility than the index. Standard deviation measures historical volatility. Higher Standard Deviation implies greater volatility. Sharpe Ratio measures risk-adjusted performance by dividing the portfolio’s excess returns (returns above a "risk-free" rate such as a Treasury bill) by the standard deviation of those returns. The higher the ratio, the better the portfolio’s return per unit of risk. The Up Capture ratio is the statistical measure of an investment manager’s performance in up-markets. The Down Capture ratio is the statistical measure of an investment manager’s performance in down-markets. Information Ratio is a ratio of portfolio returns above the returns of a benchmark compared to the volatility of those returns. The P/E (or Price/Earnings) ratio is the ratio of a company’s share price to its earnings per share. Earnings before interest, tax, depreciation and amortization (EBITDA) is a measure of a company's operating performance. Fees The Entrepreneur U.S. Small Cap Fund mutual fund has institutional class shares. The Entrepreneur U.S. Small Cap Fund has Total Annual Fund Operating Expenses of 0.90%. The Mutual Fund share classes is subject to a Redemption Fee of 2%. There is no maximum sales charge on the institutional share class. *After the Fee Waivers and Expense Reimbursements of 0.05%, the Net expense to the investors is 0.85%. Net expense ratio reflects the expense waiver the advisor has contractually agreed to through November 1, 2018. Source : Shulman, Joel M. “Leadership Matters: Crafting a Smart Beta Portfolio with a Founder-CEO Twist.” The Journal of Index Investing, vol. 8, 2017, doi: http://www.iinews.com/site/pdfs/iiJPDF/Entrepreneur/ESJIIWinter2017LeadershipMatters.pdf .


+1 (617) 279 0045

Made with FlippingBook flipbook maker