First Trust/Confluence Small Cap Value Fund

Frequently Asked Questions About FOVAX

What does FOVAX invest in?

The fund strives to meet its investment goals by allocating at least 80% of its total assets, including any borrowed capital, to the equity securities of U.S.-based companies. These are specifically firms with small market capitalizations, termed "Small-Cap Companies," at the point of investment. In typical market conditions, a company is considered a Small-Cap Company if its market value, when acquired, falls within the size spectrum of companies included in either the Russell 2000 Index or the S&P SmallCap 600 Index, based on month-end data from the most recent 12-month period.

What is the expense ratio of FOVAX?

First Trust/Confluence Small Cap Value Fund (FOVAX) charges an expense ratio of 1.60%. This is the annual fee deducted from fund assets to cover management and operations.

How big is FOVAX?

First Trust/Confluence Small Cap Value Fund (FOVAX) manages $10.8M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is FOVAX actively managed or an index fund?

FOVAX is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (FOVAX's is 1.60%) because there's no security selection cost.

When was FOVAX launched?

First Trust/Confluence Small Cap Value Fund (FOVAX) launched in March 2011 and is managed by First Trust.

How has FOVAX performed?

FOVAX's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.