Registry rank 1264 · Portfolio as of 2026-05-29
Smead Value Fund
SMVLX (Smead Value Fund) · SVFAX (Smead Value Fund) · SVFCX (Smead Value Fund) · SVFDX (Smead Value Fund) · SVFFX (Smead Value Fund) · SVFIX (Smead Value Fund) · SVFKX (Smead Value Fund) · SVFLX (Smead Value Fund) · SVFMX (Smead Value Fund) · SVFRX (Smead Value Fund) · SVFSX (Smead Value Fund) · SVFYX (Smead Value Fund)
The verdict
What the numbers say
This portfolio genuinely differs from the Russell 1000 Value index (91.9% active share). Its 1.23% fee buys real active management; whether it earned that fee is not something holdings can show.
Data provenance
Run 363649da-fcfb-4007-87ef-de06de7710ca; method closet-index@2.0.0; fund accession 0002066578-26-002299; comparison periods and expense-filing links appear with their figures. Machine capture time: 2026-07-29T14:22:09.616Z.
Computed rule checks
1 warning · 1 check clear · 1 unavailable
Warning
· Rule 1
The fund’s filed benchmark and its closest approved index control point to different comparisons.
Methodology rule · visual rules si-visual-explainers@1.0.0
Check clear
· Rule 2
The existing same-index active-share and fee rule does not issue a closet-index warning. This is not a rating.
Methodology rule · visual rules si-visual-explainers@1.0.0
Unavailable
· Rule 3
No complete licensed window and filed headline fee are available together for this check.
Computed on licensed market-return history · filed fee as of 2025-11-30
Methodology rule · visual rules si-visual-explainers@1.0.0
Filed fees in dollars
SEC-convention illustration
Computed from SEC filings
Assumptions for each dollar figure: $100,000 starting amount · 5.0% annual return · annual compounding · fees deducted annually · 0.01% computed index-control baseline. Methodology.
| Share class and filing | 10 years | 20 years | 30 years |
|---|---|---|---|
| SMVLX1.23% · SEC expense filing · as of 2025-11-30 | $17,951 | $55,203 | $127,464 |
| SVFAX1.23% · SEC expense filing · as of 2025-11-30 | $17,951 | $55,203 | $127,464 |
| SVFCX1.82% · SEC expense filing · as of 2025-11-30 | $25,976 | $77,795 | $175,182 |
| SVFDX1.60% · SEC expense filing · as of 2025-11-30 | $23,032 | $69,656 | $158,304 |
| SVFFX0.96% · SEC expense filing · as of 2025-11-30 | $14,140 | $44,021 | $102,858 |
| SVFIX0.91% · SEC expense filing · as of 2025-11-30 | $13,424 | $41,889 | $98,094 |
| SVFKX1.45% · SEC expense filing · as of 2025-11-30 | $20,992 | $63,915 | $146,185 |
| SVFLXExpense ratio not filed yet | Not filed yet | Not filed yet | Not filed yet |
| SVFMXExpense ratio not filed yet | Not filed yet | Not filed yet | Not filed yet |
| SVFRXExpense ratio not filed yet | Not filed yet | Not filed yet | Not filed yet |
| SVFSXExpense ratio not filed yet | Not filed yet | Not filed yet | Not filed yet |
| SVFYX0.81% · SEC expense filing · as of 2025-11-30 | $11,983 | $37,566 | $88,366 |
Real trailing windows
Computed on licensed market-return history
Trailing windows use iShares Russell 1000 Value ETF (IWD) adjusted-close total-return history through 2026-07-29 and the same filed index-control fee baseline as the convention table. Methodology.
| Share class and filing | 10 years | 20 years | 30 years |
|---|---|---|---|
| SMVLXFiled fee as of 2025-11-30 | $30,689Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 11.41% annualized | $106,463Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 8.68% annualized | Proxy history begins 2000 — no full 30-year window |
| SVFAXFiled fee as of 2025-11-30 | $30,689Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 11.41% annualized | $106,463Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 8.68% annualized | Proxy history begins 2000 — no full 30-year window |
| SVFCXFiled fee as of 2025-11-30 | $44,471Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 11.41% annualized | $150,286Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 8.68% annualized | Proxy history begins 2000 — no full 30-year window |
| SVFDXFiled fee as of 2025-11-30 | $39,410Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 11.41% annualized | $134,479Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 8.68% annualized | Proxy history begins 2000 — no full 30-year window |
| SVFFXFiled fee as of 2025-11-30 | $24,157Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 11.41% annualized | $84,830Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 8.68% annualized | Proxy history begins 2000 — no full 30-year window |
| SVFIXFiled fee as of 2025-11-30 | $22,932Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 11.41% annualized | $80,710Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 8.68% annualized | Proxy history begins 2000 — no full 30-year window |
| SVFKXFiled fee as of 2025-11-30 | $35,906Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 11.41% annualized | $123,342Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 8.68% annualized | Proxy history begins 2000 — no full 30-year window |
| SVFLXExpense ratio not filed yet | filed expense ratio unavailable | filed expense ratio unavailable | filed expense ratio unavailable |
| SVFMXExpense ratio not filed yet | filed expense ratio unavailable | filed expense ratio unavailable | filed expense ratio unavailable |
| SVFRXExpense ratio not filed yet | filed expense ratio unavailable | filed expense ratio unavailable | filed expense ratio unavailable |
| SVFSXExpense ratio not filed yet | filed expense ratio unavailable | filed expense ratio unavailable | filed expense ratio unavailable |
| SVFYXFiled fee as of 2025-11-30 | $20,466Computed on licensed market-return history 2016-07-29 to 2026-07-29 · proxy return 11.41% annualized | $72,359Computed on licensed market-return history 2006-07-31 to 2026-07-29 · proxy return 8.68% annualized | Proxy history begins 2000 — no full 30-year window |
These figures are illustrations, not predictions or personalized advice. Returns and fees can differ. Read the research disclaimer.
Change the illustration
Computed from SEC filings
Assumptions for the dollar figures below: $100,000 starting amount; 5.0% annual return; 20 years; annual compounding; fees deducted annually; 0.01% computed index-control baseline. SMVLX SEC expense filing, as of 2025-11-30. Methodology.
| Result | Amount |
|---|---|
| Ending value at baseline | $264,825 |
| Ending value at filed expense ratio | $209,622 |
| Difference attributed to fee drag | $55,203 |
This is an illustration, not a prediction or personalized advice. Returns and fees can differ. Read the research disclaimer.
Largest active differences vs the Russell 1000 Value index
The bars are labeled and repeated in the table; color is not the only signal. Linked company names open Buy Like Buffett’s company record; Sensible Investor does not score stocks.
| Holding | Fund | Russell 1000 Value index | Difference |
|---|---|---|---|
| CENOVUS ENERGY INC | 7.41% | 0.00% | +7.41% |
| APA CORPORATION | 6.56% | 0.05% | +6.51% |
| SIMON PROPERTY GROUP, INC. | 6.60% | 0.15% | +6.44% |
| MACERICH COMPANY (THE) | 5.94% | 0.00% | +5.94% |
| MERCK & CO., INC. | 6.37% | 0.99% | +5.38% |
| AMGEN INC. | 5.10% | 0.16% | +4.94% |
| D.R. HORTON, INC. | 4.78% | 0.12% | +4.66% |
| DIAMONDBACK ENERGY, INC. | 4.45% | 0.13% | +4.32% |
| LENNAR CORPORATION | 4.17% | 0.06% | +4.11% |
| TARGET CORPORATION | 4.12% | 0.18% | +3.94% |
Source and verification
SEC N-PORT filing · filed 2026-07-23 · period 2026-05-29
SEC expense filing · period 2025-11-30
Cite these figures
Each snippet includes the figure’s source-event date and immutable verification URL.
Best-fit active share
Sensible Investor, “Smead Value Fund — best-fit active share,” 91.9% versus the Russell 1000 Value index, fund portfolio as of 2026-05-29; measured against the filed holdings of iShares Russell 1000 Value ETF (IWD), as of 2026-03-31. https://sensible-investor.com/registry/smvlx/as-of/363649da-fcfb-4007-87ef-de06de7710ca
SMVLX filed expense ratio
Sensible Investor, “Smead Value Fund — filed expense ratio,” 1.23% for SMVLX, as of 2025-11-30. https://sensible-investor.com/registry/smvlx/as-of/363649da-fcfb-4007-87ef-de06de7710ca
SMVLX fee per active unit
Sensible Investor, “Smead Value Fund — fee per unit of active management,” 1.34% using the SMVLX expense ratio as of 2025-11-30 and fund portfolio as of 2026-05-29. https://sensible-investor.com/registry/smvlx/as-of/363649da-fcfb-4007-87ef-de06de7710ca