Touchstone Dynamic Equity Fund

Touchstone Dynamic Equity Fund

Daily NAV
$
Overall Morningstar RatingTM
Options-based

Morningstar

Overall Morningstar RatingTM is calculated against 94 funds in the Options-based category.

The Morningstar RatingTM for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds and separate accounts) with at least a 3-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar RatingTM does not include any adjustment for sales load. The top 10% of products in each product category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the bottom 10% receive one star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% 3-year rating for 36-59 months of total returns, 60% 5-year rating/40% 3-year rating for 60-119 months of total returns, and 50% 10-year rating/30% 5-year rating/20% 3-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent 3-year period actually has the greatest impact because it is included in all three rating periods.

Class A Shares star ratings do not include any front-end sales load and are intended for those investors who have access to such purchase terms.

Overview

Overview

Actively Managed and Sub-Advised by Wells Capital Management, Inc.

Objective

The fund seeks to obtain long-term capital appreciation from hedged equity investments with less risk than a fully invested, unhedged equity portfolio by investing in a combination of equity securities, short-term debt securities, and derivative instruments.

Dynamic Equity Fund Commentary

Investment Style

  • Invests primarily in long and short positions of U.S. large-cap stocks, although it may invest in small- and mid-cap stocks
  • Utilizes a proprietary model that attempts to determine a security's intrinsic value by evaluating variables such as relative valuation, price momentum, company fundamentals, liquidity and risk
  • Buys securities 'long' that are believed will outperform and sells securities 'short' on those believed will underperform
  • Intends to take long and short equity positions that may vary over time-based on an assessment of market conditions and other factors
  • Seeks to reduce overall portfolio risk through the use of options, primarily focusing on writing call options
A WORD ABOUT RISK

The Fund invests in equities which are subject to market volatility and loss. The Fund invests in stocks of large-cap companies which may be unable to respond quickly to new competitive challenges. The Fund invests in stocks of small- and mid-cap companies, which may be subject to more erratic market movements than stocks of larger, more established companies. The Fund is involved in short selling which may result in additional costs associated with covering short positions and a possibility of unlimited loss. The Fund invests in covered call options which may result in limited gains and illiquidity for the option or for the security. Premiums generated from these options typically result in tax consequences. The Fund invests in derivatives such as forward currency exchange contracts, futures contracts, options and swap agreements. Derivatives can be highly volatile, illiquid and difficult to value, subject to counterparty and leverage risks and there is risk that changes in the value of a derivative held by the Fund will not correlate with the Fund’s other investments. Leverage can create an interest expense that may lower the Fund's overall returns. There can be no guarantee that a leveraging strategy will be successful. Gains or losses from speculative positions in a derivative may be much greater than the original cost and potential losses may be substantial. When the Fund has a cash balance, any market upswing may adversely affect the Fund's performance. The Fund may experience higher portfolio turnover which may lead to increased fund expenses, lower investment returns and higher short-term capital gains taxable to shareholders. Current and future portfolio holdings are subject to risk. The Advisor engages a sub-advisor to make investment decisions for the Fund’s portfolio; it may be unable to identify and retain a sub-advisor who achieves superior investment returns relative to other similar sub-advisors.

Fund Facts

Symbol
CUSIP
Share Class Inception Date
Total Share Class Net Assets as of 12/31/2018
Total Fund Net Assets as of 12/31/2018 $84,861,184
Asset Class Multi-Asset / Alternative
Morningstar Category Options-based
Benchmark S&P 500 Index
Distribution Frequency Annually
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date 04/30/2018

Performance

Daily Returns as of
NAV NAV $ Change
Touchstone Dynamic Equity Fund -
HISTORICAL DAILY NAV
as of 01/31/2019 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Dynamic Equity Fund -
Including Sales Charge
Touchstone Dynamic Equity Fund -
Excluding Sales Charge
S&P 500 Index 8.01% 0.26% 8.01% -2.32% 14.02% 10.96% 15.00% --
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. The maximum front-end sales charge for Class A Shares of Touchstone U.S. Equity, International/Global Equity and Multi-Asset/Alternative Investment Funds excluding Touchstone Flexible Income Fund is 5.00%.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Performance for Class C Shares is adjusted for the contingent deferred sales charges (CDSC) in effect at the end of the specified period. The CDSC for Class C Shares is 1.00% the first year you hold the shares and declines to 0% after the first year.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Class Y Shares are sold at net asset value (NAV), without an initial sales charge and are not subject to a 12b-1 fee or contingent deferred sales charges.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Class INST Shares are sold at net asset value (NAV), without an initial sales charge and are not subject to a 12b-1 fee or contingent deferred sales charges.
The performance presented for Class A, C, and INST Shares combines the performance of an older class of shares (Y Shares) from the Fund's inception, 07/01/78, with the performance since the inception date of each share class.
as of 12/31/2018 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Dynamic Equity Fund -
Including Sales Charge
Touchstone Dynamic Equity Fund -
Excluding Sales Charge
S&P 500 Index -4.38% 9.26% 8.49% 13.12% --
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. The maximum front-end sales charge for Class A Shares of Touchstone U.S. Equity, International/Global Equity and Multi-Asset/Alternative Investment Funds excluding Touchstone Flexible Income Fund is 5.00%.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Performance for Class C Shares is adjusted for the contingent deferred sales charges (CDSC) in effect at the end of the specified period. The CDSC for Class C Shares is 1.00% the first year you hold the shares and declines to 0% after the first year.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Class Y Shares are sold at net asset value (NAV), without an initial sales charge and are not subject to a 12b-1 fee or contingent deferred sales charges.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Class INST Shares are sold at net asset value (NAV), without an initial sales charge and are not subject to a 12b-1 fee or contingent deferred sales charges.
The performance presented for Class A, C, and INST Shares combines the performance of an older class of shares (Y Shares) from the Fund's inception, 07/01/78, with the performance since the inception date of each share class.

Consider Touchstone Dynamic Equity Fund for Your Portfolio

Touchstone Dynamic Equity Fund invests in a combination of equity securities, short-term debt securities and derivative instruments to build a long/short equity portfolio that utilizes a covered call strategy. It seeks to provide long-term capital appreciation.
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Portfolio

as of 12/31/2018
Number of Long Holdings
276
Number of Short Holdings
115
Weighted Average Market Capitalization Long Positions
$164.7 B
Weighted Average Market Capitalization Short Positions
$8.0 B
Price To Earnings Ratio Long
(Weighted Harmonic Average)
10.3x
Price To Earnings Ratio Short
(Weighted Harmonic Average)
23.1x
Price to Book Ratio Long
(Weighted Harmonic Average)
2.8x
Price to Book Ratio Short
(Weighted Harmonic Average)
1.7x
as of 12/31/2018
Sector
% of Portfolio - Long Positions
% of Portfolio - Short Positions
Information Technology 23.1 -2.2
Health Care 16.4 -1.6
Financials 14.4 -5.1
Consumer Discretionary 9.9 -1.4
Communication Services 9.7 -0.5
Industrials 9.1 -1.7
Consumer Staples 8.5 -0.5
Real Estate 7.0 -3.1
Energy 6.7 -0.6
Utilities 5.3 -1.4
Materials 3.4 -1.4
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 01/31/2019
Security Description % of Portfolio
MICROSOFT CORP 4.3
AMAZON.COM INC 3.7
APPLE INC 3.5
BERKSHIRE HATHAWAY INC-CL B 2.7
MASTERCARD INC - A 2.5
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 01/31/2019
Security Description % of Portfolio
SPXW 03/29/19 WC2605 03/30/2019 -2.1
WHITE MOUNTAINS INSURANCE GP -1.2
INVITATION HOMES INC -0.9
JBG SMITH PROPERTIES -0.8
GARRETT MOTION INC -0.7
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 12/31/2018
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
3M CO US 4,543 190.54 865,623 1.02
ABBOTT LABORATORIES US 1,304 72.33 94,318 0.11
ABBVIE INC US 10,869 92.19 1,002,013 1.18
ACCENTURE PLC-CL A IE 9,648 141.01 1,360,464 1.60
ACTIVISION BLIZZARD INC US 9,827 46.57 457,643 0.54
ADOBE INC US 5,007 226.24 1,132,784 1.33
ADVANCED MICRO DEVICES US 3,051 18.46 56,321 0.07
AFFILIATED MANAGERS GROUP US 1,902 97.44 185,331 0.22
AGILENT TECHNOLOGIES INC US 6,987 67.46 471,343 0.56
AKAMAI TECHNOLOGIES INC US 1,730 61.08 105,668 0.12
ALEXION PHARMACEUTICALS INC US 4,030 97.36 392,361 0.46
ALIGN TECHNOLOGY INC US 516 209.43 108,066 0.13
ALLISON TRANSMISSION HOLDING US 1,639 43.91 71,968 0.08
ALLY FINANCIAL INC US 1,484 22.66 33,627 0.04
ALPHABET INC-CL A US 1,297 1,044.96 1,355,313 1.60
ALPHABET INC-CL C US 1,117 1,035.61 1,156,776 1.36
ALTRIA GROUP INC US 19,521 49.39 964,142 1.14
AMAZON.COM INC US 1,509 1,501.97 2,266,473 2.67
AMDOCS LTD US 3,499 58.58 204,971 0.24
AMEREN CORPORATION US 7,910 65.23 515,969 0.61
AMERICAN EXPRESS CO US 1,917 95.32 182,728 0.22
AMERIPRISE FINANCIAL INC US 5,351 104.37 558,484 0.66
AMERISOURCEBERGEN CORP US 2,174 74.40 161,746 0.19
AMGEN INC US 2,587 194.67 503,611 0.59
ANADARKO PETROLEUM CORP US 599 43.84 26,260 0.03
ANSYS INC US 651 142.94 93,054 0.11
ANTHEM INC US 1,303 262.63 342,207 0.40
AON PLC GB 1,232 145.36 179,084 0.21
APPLE HOSPITALITY REIT INC US 34,590 14.26 493,253 0.58
APPLE INC US 18,507 157.74 2,919,294 3.44
ARAMARK US 1,369 28.97 39,660 0.05
ARCHER-DANIELS-MIDLAND CO US 8,236 40.97 337,429 0.40
AT&T INC US 29,053 28.54 829,173 0.98
AUTOMATIC DATA PROCESSING US 8,636 131.12 1,132,352 1.33
AVALONBAY COMMUNITIES INC US 814 174.05 141,677 0.17
AVANGRID INC US 10,527 50.09 527,297 0.62
BAKER HUGHES A GE CO US 24,760 21.50 532,340 0.63
BANK OF AMERICA CORP US 47,770 24.64 1,177,053 1.39
BANK OF NEW YORK MELLON CORP US 2,744 47.07 129,160 0.15
BANK OZK US 17,524 22.83 400,073 0.47
BAXTER INTERNATIONAL INC US 2,845 65.82 187,258 0.22
BERKSHIRE HATHAWAY INC-CL B US 8,311 204.18 1,696,940 2.00
BEST BUY CO INC US 3,613 52.96 191,344 0.23
BLACKROCK INC US 358 392.82 140,630 0.17
BOEING CO/THE US 2,424 322.50 781,740 0.92
BOOKING HOLDINGS INC US 113 1,722.42 194,633 0.23
BOOZ ALLEN HAMILTON HOLDINGS US 5,153 45.07 232,246 0.27
BORGWARNER INC US 1,595 34.74 55,410 0.07
BRISTOL-MYERS SQUIBB CO US 17,231 51.98 895,667 1.06
BRUKER CORP US 20,821 29.77 619,841 0.73
BRUNSWICK CORP US 262 46.45 12,170 0.01
C.H. ROBINSON WORLDWIDE INC US 997 84.09 83,838 0.10
CADENCE DESIGN SYS INC US 5,848 43.48 254,271 0.30
CAMDEN PROPERTY TRUST US 2,094 88.05 184,377 0.22
CAPITAL ONE FINANCIAL CORP US 3,421 75.59 258,593 0.30
CARDINAL HEALTH INC US 1,338 44.60 59,675 0.07
CARNIVAL CORP US 4,209 49.30 207,504 0.24
CBRE GROUP INC - A US 14,318 40.04 573,293 0.68
CBS CORP-CLASS B NON VOTING US 1,522 43.72 66,542 0.08
CDK GLOBAL INC US 6,116 47.88 292,834 0.35
CELGENE CORP US 8,445 64.09 541,240 0.64
CENTURYLINK INC US 3,013 15.15 45,647 0.05
CHEMED CORP US 578 283.28 163,736 0.19
CHEVRON CORP US 7,576 108.79 824,193 0.97
CINCINNATI FINANCIAL CORP US 1,251 77.42 96,852 0.11
CISCO SYSTEMS INC US 19,385 43.33 839,952 0.99
CLOROX COMPANY US 281 154.14 43,313 0.05
CME GROUP INC US 1,341 188.12 252,269 0.30
CMS ENERGY CORP US 10,090 49.65 500,969 0.59
CNA FINANCIAL CORP US 5,971 44.15 263,620 0.31
COCA-COLA CO/THE US 3,159 47.35 149,579 0.18
COGNIZANT TECH SOLUTIONS-A US 810 63.48 51,419 0.06
COLGATE-PALMOLIVE CO US 1,133 59.52 67,436 0.08
COMCAST CORP-CLASS A US 12,249 34.05 417,078 0.49
COMERICA INC US 3,163 68.69 217,266 0.26
CONOCOPHILLIPS US 17,516 62.35 1,092,123 1.29
CORPORATE OFFICE PROPERTIES US 5,364 21.03 112,805 0.13
COSTCO WHOLESALE CORP US 4,610 203.71 939,103 1.11
CSX CORP US 1,773 62.13 110,156 0.13
CUMMINS INC US 1,317 133.64 176,004 0.21
CURTISS-WRIGHT CORP US 189 102.12 19,301 0.02
CVS HEALTH CORP US 5,024 65.52 329,172 0.39
DANAHER CORP US 3,065 103.12 316,063 0.37
DARDEN RESTAURANTS INC US 778 99.86 77,691 0.09
DISCOVER FINANCIAL SERVICES US 8,417 58.98 496,435 0.58
DISCOVERY COMMUNICATIONS-C US 1,733 23.08 39,998 0.05
DISH NETWORK CORP-A US 10,481 24.97 261,711 0.31
DOLLAR GENERAL CORP US 2,248 108.08 242,964 0.29
DONALDSON CO INC US 1,870 43.39 81,139 0.10
DOVER CORP US 234 70.95 16,602 0.02
DREYFUS-GOV C-IN US 318,604 1.00 318,604 0.38
DTE ENERGY COMPANY US 4,767 110.30 525,800 0.62
DUKE ENERGY CORP US 3,675 86.30 317,153 0.37
E*TRADE FINANCIAL CORP US 1,660 43.88 72,841 0.09
EAST WEST BANCORP INC US 2,442 43.53 106,300 0.13
EASTMAN CHEMICAL CO US 6,417 73.11 469,147 0.55
EATON CORP PLC IE 3,618 68.66 248,412 0.29
ECOLAB INC US 2,916 147.35 429,673 0.51
ELI LILLY & CO US 3,769 115.72 436,149 0.51
EMERSON ELECTRIC CO US 748 59.75 44,693 0.05
EOG RESOURCES INC US 3,060 87.21 266,863 0.31
EPR PROPERTIES US 6,764 64.03 433,099 0.51
EVERSOURCE ENERGY US 7,229 65.04 470,174 0.55
EXTENDED STAY AMERICA INC US 32,113 15.50 497,752 0.59
EXXON MOBIL CORP US 19,604 68.19 1,336,797 1.58
F5 NETWORKS INC US 398 162.03 64,488 0.08
FACEBOOK INC-CLASS A US 7,673 131.09 1,005,854 1.19
FAIR ISAAC CORP US 468 187.00 87,516 0.10
FEDERAL REALTY INVS TRUST US 546 118.04 64,450 0.08
FIRST AMERICAN FINANCIAL US 1,070 44.64 47,765 0.06
FIRST CITIZENS BCSHS -CL A US 93 377.05 35,066 0.04
FLUOR CORP US 498 32.20 16,036 0.02
FNB CORP US 59,697 9.84 587,418 0.69
FORTINET INC US 6,372 70.43 448,780 0.53
GENERAL DYNAMICS CORP US 508 157.21 79,863 0.09
GENERAL ELECTRIC CO US 9,139 7.57 69,182 0.08
GENUINE PARTS CO US 2,405 96.02 230,928 0.27
GILEAD SCIENCES INC US 878 62.55 54,919 0.06
HANOVER INSURANCE GROUP INC/ US 1,634 116.77 190,802 0.22
HAWAIIAN ELECTRIC INDS US 9,739 36.62 356,642 0.42
HELMERICH & PAYNE US 537 47.94 25,744 0.03
HEWLETT PACKARD ENTERPRISE US 3,714 13.21 49,062 0.06
HIGHWOODS PROPERTIES INC US 7,121 38.69 275,511 0.32
HOLLYFRONTIER CORP US 542 51.12 27,707 0.03
HOME DEPOT INC US 4,168 171.82 716,146 0.84
HONEYWELL INTERNATIONAL INC US 5,368 132.12 709,220 0.84
HP INC US 15,128 20.46 309,519 0.36
HUMANA INC US 2,193 286.48 628,251 0.74
HUNTINGTON BANCSHARES INC US 13,499 11.92 160,908 0.19
IAC/INTERACTIVECORP US 1,469 183.04 268,886 0.32
IDEXX LABORATORIES INC US 640 186.02 119,053 0.14
INGREDION INC US 4,992 91.40 456,269 0.54
INTEL CORP US 19,348 46.93 908,002 1.07
INTERNATIONAL PAPER CO US 2,143 40.36 86,491 0.10
INTERPUBLIC GROUP OF COS INC US 10,882 20.63 224,496 0.26
INTUIT INC US 4,775 196.85 939,959 1.11
INTUITIVE SURGICAL INC US 1,063 478.92 509,092 0.60
JACOBS ENGINEERING GROUP INC US 1,554 58.46 90,847 0.11
JONES LANG LASALLE INC US 1,906 126.60 241,300 0.28
JPMORGAN CHASE & CO US 8,540 97.62 833,675 0.98
KRAFT HEINZ CO/THE US 1,615 43.04 69,510 0.08
LABORATORY CRP OF AMER HLDGS US 458 126.36 57,873 0.07
LAMAR ADVERTISING CO-A US 8,694 69.18 601,451 0.71
LAS VEGAS SANDS CORP US 10,633 52.05 553,448 0.65
LEIDOS HOLDINGS INC US 1,603 52.72 84,510 0.10
LINCOLN ELECTRIC HOLDINGS US 1,914 78.85 150,919 0.18
LINDE PLC GB 944 156.04 147,302 0.17
LIVE NATION ENTERTAINMENT IN US 379 49.25 18,666 0.02
LOCKHEED MARTIN CORP US 840 261.84 219,946 0.26
LOWE'S COS INC US 4,387 92.36 405,183 0.48
LPL FINANCIAL HOLDINGS INC US 2,252 61.08 137,552 0.16
LULULEMON ATHLETICA INC CA 724 121.61 88,046 0.10
LYONDELLBASELL INDU-CL A US 6,004 83.16 499,293 0.59
M & T BANK CORP US 487 143.13 69,704 0.08
MANHATTAN ASSOCIATES INC US 2,583 42.37 109,442 0.13
MARATHON PETROLEUM CORP US 5,220 59.01 308,032 0.36
MASCO CORP US 3,216 29.24 94,036 0.11
MASTERCARD INC - A US 7,091 188.65 1,337,717 1.58
MATCH GROUP INC US 3,020 42.77 129,165 0.15
MCDONALD'S CORP US 1,878 177.57 333,476 0.39
MCKESSON CORP US 321 110.47 35,461 0.04
MDU RESOURCES GROUP INC US 25,466 23.84 607,109 0.72
MEDICAL PROPERTIES TRUST INC US 18,805 16.08 302,384 0.36
MEDTRONIC PLC US 869 90.96 79,044 0.09
MERCK & CO. INC. US 11,123 76.41 849,908 1.00
MERCURY GENERAL CORP US 4,710 51.71 243,554 0.29
METLIFE INC US 4,685 41.06 192,366 0.23
METTLER-TOLEDO INTERNATIONAL US 357 565.58 201,912 0.24
MICROSOFT CORP US 35,098 101.57 3,564,904 4.20
MONDELEZ INTERNATIONAL INC-A US 2,902 40.03 116,167 0.14
MONSTER BEVERAGE CORP US 397 49.22 19,540 0.02
MOSAIC CO/THE US 5,792 29.21 169,184 0.20
MOTOROLA SOLUTIONS INC US 617 115.04 70,980 0.08
MURPHY OIL CORP US 5,971 23.39 139,662 0.16
MYLAN NV US 3,760 27.40 103,024 0.12
NATIONAL INSTRUMENTS CORP US 13,386 45.38 607,457 0.72
NATIONAL OILWELL VARCO INC US 1,714 25.70 44,050 0.05
NETAPP INC US 4,944 59.67 295,008 0.35
NEWMARKET CORP US 364 412.09 150,001 0.18
NEXTERA ENERGY INC US 426 173.82 74,047 0.09
NIKE INC -CL B US 8,871 74.14 657,696 0.78
NO NAME PROVIDED US 11,380 16.10 183,218 0.22
NOBLE ENERGY INC US 3,423 18.76 64,215 0.08
NORFOLK SOUTHERN CORP US 3,022 149.54 451,910 0.53
NUCOR CORP US 2,604 51.81 134,913 0.16
NVIDIA CORP US 1,102 133.50 147,117 0.17
OLD REPUBLIC INTL CORP US 39,685 20.57 816,320 0.96
OMNICOM GROUP US 3,713 73.24 271,940 0.32
ONEOK INC US 3,224 53.95 173,935 0.20
ORACLE CORP US 9,394 45.15 424,139 0.50
OSHKOSH CORP US 3,413 61.31 209,251 0.25
OUTFRONT MEDIA INC US 14,071 18.12 254,967 0.30
PACCAR INC US 2,535 57.14 144,850 0.17
PARK HOTELS & RESORTS INC US 14,751 25.98 383,231 0.45
PAYPAL HOLDINGS INC US 2,155 84.09 181,214 0.21
PBF ENERGY INC-CLASS A US 7,889 32.67 257,734 0.30
PEPSICO INC US 13,722 110.48 1,516,007 1.79
PERKINELMER INC US 5,191 78.55 407,753 0.48
PFIZER INC US 30,165 43.65 1,316,702 1.55
PHILIP MORRIS INTERNATIONAL US 7,295 66.76 487,014 0.57
PHILLIPS 66 US 311 86.15 26,793 0.03
PINNACLE WEST CAPITAL US 7,349 85.20 626,135 0.74
PIONEER NATURAL RESOURCES CO US 3,904 131.52 513,454 0.61
PPG INDUSTRIES INC US 2,445 102.23 249,952 0.29
PRA HEALTH SCIENCES INC US 1,055 91.96 97,018 0.11
PRINCIPAL FINANCIAL GROUP US 2,905 44.17 128,314 0.15
PROCTER & GAMBLE CO/THE US 12,345 91.92 1,134,752 1.34
PROGRESSIVE CORP US 5,678 60.33 342,554 0.40
PRUDENTIAL FINANCIAL INC US 5,638 81.55 459,779 0.54
PUBLIC STORAGE US 3,828 202.41 774,825 0.91
QUALCOMM INC US 3,136 56.91 178,470 0.21
QUEST DIAGNOSTICS INC US 2,932 83.27 244,148 0.29
RAYONIER INC US 547 27.69 15,146 0.02
RAYTHEON COMPANY US 4,675 153.35 716,911 0.84
REALOGY HOLDINGS CORP US 5,511 14.68 80,901 0.10
REGENERON PHARMACEUTICALS US 641 373.50 239,414 0.28
REGIONS FINANCIAL CORP US 5,917 13.38 79,169 0.09
REINSURANCE GROUP OF AMERICA US 501 140.23 70,255 0.08
REPUBLIC SERVICES INC US 4,420 72.09 318,638 0.38
RETAIL PROPERTIES OF AME - A US 16,626 10.85 180,392 0.21
ROBERT HALF INTL INC US 10,070 57.20 576,004 0.68
ROSS STORES INC US 1,598 83.20 132,954 0.16
ROYAL CARIBBEAN CRUISES LTD US 1,778 97.79 173,871 0.20
S&P GLOBAL INC US 2,189 169.94 371,999 0.44
SCHNEIDER NATIONAL INC-CL B US 7,545 18.67 140,865 0.17
SIMON PROPERTY GROUP INC US 3,024 167.99 508,002 0.60
SKYWORKS SOLUTIONS INC US 2,400 67.02 160,848 0.19
SONOCO PRODUCTS CO US 4,070 53.13 216,239 0.25
SOUTHERN COPPER CORP PE 7,224 30.77 222,282 0.26
SOUTHWEST AIRLINES CO US 1,751 46.48 81,386 0.10
SPRINT CORP US 21,653 5.82 126,020 0.15
SQUARE INC - A US 3,604 56.09 202,148 0.24
STARBUCKS CORP US 3,883 64.40 250,065 0.29
STATE STREET CORP US 7,127 63.07 449,500 0.53
STERIS PLC GB 1,220 106.85 130,357 0.15
STRYKER CORP US 62 156.75 9,719 0.01
SYSCO CORP US 2,883 62.66 180,649 0.21
T ROWE PRICE GROUP INC US 5,307 92.32 489,942 0.58
TARGET CORP US 7,939 66.09 524,689 0.62
TE CONNECTIVITY LTD CH 718 75.63 54,302 0.06
TERADATA CORP US 373 38.36 14,308 0.02
TEXAS CAPITAL BANCSHARES INC US 2,515 51.09 128,491 0.15
TEXAS INSTRUMENTS INC US 5,389 94.50 509,261 0.60
TEXTRON INC US 1,982 45.99 91,152 0.11
TJX COMPANIES INC US 10,254 44.74 458,764 0.54
TORCHMARK CORP US 327 74.53 24,371 0.03
TYSON FOODS INC-CL A US 6,689 53.40 357,193 0.42
UGI CORP US 1,893 53.35 100,992 0.12
ULTA SALON COSMETICS & FRAGR US 232 244.84 56,803 0.07
UNION PACIFIC CORP US 2,705 138.23 373,912 0.44
UNITED TECHNOLOGIES CORP US 1,404 106.48 149,498 0.18
UNITEDHEALTH GROUP INC US 5,718 249.12 1,424,468 1.68
UNUM GROUP US 7,759 29.38 227,959 0.27
US BANCORP US 1,285 45.70 58,725 0.07
VALERO ENERGY CORP US 2,883 74.97 216,139 0.25
VARIAN MEDICAL SYSTEMS INC US 1,741 113.31 197,273 0.23
VEEVA SYSTEMS INC-CLASS A US 797 89.32 71,188 0.08
VERISK ANALYTICS INC US 1,434 109.04 156,363 0.18
VERIZON COMMUNICATIONS INC US 15,998 56.22 899,408 1.06
VERTEX PHARMACEUTICALS INC US 2,163 165.71 358,431 0.42
VIACOM INC-CLASS A US 5,100 27.81 141,831 0.17
VIACOM INC-CLASS B US 23,303 25.70 598,887 0.71
VICI PROPERTIES INC US 17,490 18.78 328,462 0.39
VISA INC-CLASS A SHARES US 1,612 131.94 212,687 0.25
WALGREENS BOOTS ALLIANCE INC US 3,517 68.33 240,317 0.28
WALMART INC US 4,286 93.15 399,241 0.47
WASTE MANAGEMENT INC US 7,360 88.99 654,966 0.77
WEINGARTEN REALTY INVESTORS US 6,310 24.81 156,551 0.18
WEST PHARMACEUTICAL SERVICES US 4,796 98.03 470,152 0.55
WESTROCK CO US 4,476 37.76 169,014 0.20
WEYERHAEUSER CO US 2,817 21.86 61,580 0.07
WYNDHAM DESTINATIONS INC US 5,855 35.84 209,843 0.25
XILINX INC US 6,850 85.17 583,415 0.69
YUM CHINA HOLDINGS INC CN 1,537 33.53 51,536 0.06
YUM! BRANDS INC US 941 91.92 86,497 0.10
ZOETIS INC US 1,928 85.54 164,921 0.19
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 12/31/2018
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
2U INC US -5,103 49.72 -253,721 -0.30
AGCO CORP US -487 55.67 -27,111 -0.03
AGNC INVESTMENT CORP US -10,955 17.54 -192,151 -0.23
AIR PRODUCTS & CHEMICALS INC US -91 160.05 -14,565 -0.02
ALNYLAM PHARMACEUTICALS INC US -4,635 72.91 -337,938 -0.40
AMERCO US -604 328.11 -198,178 -0.23
ANNALY CAPITAL MANAGEMENT IN US -1,067 9.82 -10,478 -0.01
ARCH CAPITAL GROUP LTD BM -7,194 26.72 -192,224 -0.23
ARCOSA INC US -6,200 27.69 -171,678 -0.20
ASHLAND GLOBAL HOLDINGS INC US -5,873 70.96 -416,748 -0.49
ATMOS ENERGY CORP US -200 92.72 -18,544 -0.02
BERRY PLASTICS GROUP INC US -1,028 47.53 -48,861 -0.06
BLUEBIRD BIO INC US -3,724 99.20 -369,421 -0.44
BRIGHT HORIZONS FAMILY SOLUT US -280 111.45 -31,206 -0.04
BRIGHTHOUSE FINANCIAL INC US -9,563 30.48 -291,480 -0.34
CAESARS ENTERTAINMENT CORP US -10,479 6.79 -71,152 -0.08
CAMPBELL SOUP CO US -4,852 32.99 -160,067 -0.19
CBOE GLOBAL MARKETS INC US -1,432 97.83 -140,093 -0.17
CHENIERE ENERGY INC US -4,014 59.19 -237,589 -0.28
CHIPOTLE MEXICAN GRILL INC US -56 431.79 -24,180 -0.03
CITRIX SYSTEMS INC US -172 102.46 -17,623 -0.02
CLEAN HARBORS INC US -358 49.35 -17,667 -0.02
COHERENT INC US -432 105.71 -45,667 -0.05
COLONY CAPITAL INC US -3,788 4.68 -17,728 -0.02
COLUMBIA PROPERTY TRUST INC US -5,879 19.35 -113,759 -0.13
CONSOLIDATED EDISON INC US -3,083 76.46 -235,726 -0.28
COSTAR GROUP INC US -63 337.34 -21,252 -0.03
CYRUSONE INC US -2,964 52.88 -156,736 -0.18
DENTSPLY SIRONA INC US -1,741 37.21 -64,783 -0.08
ENTERGY CORP US -7,849 86.07 -675,563 -0.80
EQUITRANS MIDSTREAM CORP US -1,500 20.02 -30,030 -0.04
EQUITY COMMONWEALTH US -4,829 30.01 -144,918 -0.17
EQUITY LIFESTYLE PROPERTIES US -792 97.13 -76,927 -0.09
EXACT SCIENCES CORP US -793 63.10 -50,038 -0.06
FIREEYE INC US -7,783 16.21 -126,162 -0.15
FIRST REPUBLIC BANK/CA US -4,759 86.90 -413,557 -0.49
FIRST SOLAR INC US -3,939 42.46 -167,230 -0.20
FIRSTENERGY CORP US -8,308 37.55 -311,965 -0.37
FMC CORP US -259 73.96 -19,156 -0.02
FORTIVE CORP US -3,198 67.66 -216,377 -0.25
GARDNER DENVER HOLDINGS INC US -554 20.45 -11,329 -0.01
GARRETT MOTION INC CH -16,786 12.34 -207,139 -0.24
GARTNER INC US -1,424 127.84 -182,044 -0.21
GUIDEWIRE SOFTWARE INC US -2,322 80.23 -186,294 -0.22
HANESBRANDS INC US -3,387 12.53 -42,439 -0.05
HD SUPPLY HOLDINGS INC US -1,333 37.52 -50,014 -0.06
HEICO CORP-CLASS A US -1,233 63.00 -77,679 -0.09
HOWARD HUGHES CORP/THE US -1,599 97.62 -156,094 -0.18
IHS MARKIT LTD GB -2,765 47.97 -132,637 -0.16
INSULET CORP US -2,038 79.32 -161,654 -0.19
INTEGRA LIFESCIENCES HOLDING US -2,489 45.10 -112,254 -0.13
INVITATION HOMES INC US -18,120 20.08 -363,850 -0.43
JBG SMITH PROPERTIES US -15,752 34.81 -548,327 -0.65
JETBLUE AIRWAYS CORP US -4,957 16.06 -79,609 -0.09
KEYSIGHT TECHNOLOGIES IN US -1,064 62.08 -66,053 -0.08
KOSMOS ENERGY LTD US -3,000 4.07 -12,210 -0.01
LOGMEIN INC US -1,036 81.57 -84,507 -0.10
MACERICH CO/THE US -5,212 43.28 -225,575 -0.27
MADISON SQUARE GARDEN CO- A US -52 267.70 -13,920 -0.02
MATTEL INC US -40,618 9.99 -405,774 -0.48
MOHAWK INDUSTRIES INC US -136 116.96 -15,907 -0.02
NDX 01/18/19 WC6650 01/19/2019 US -5 36.85 -18,425 -0.02
NEKTAR THERAPEUTICS US -909 32.87 -29,879 -0.04
NEW YORK COMMUNITY BANCORP US -11,626 9.41 -109,401 -0.13
OEX 01/18/19 WC1110 01/19/2019 US -14 24.20 -33,880 -0.04
OWENS CORNING US -2,632 43.98 -115,755 -0.14
OWENS-ILLINOIS INC US -533 17.24 -9,189 -0.01
PALO ALTO NETWORKS INC US -914 188.35 -172,152 -0.20
PARAMOUNT GROUP INC US -15,645 12.56 -196,501 -0.23
PATTERSON-UTI ENERGY INC US -2,830 10.35 -29,291 -0.03
PEGASYSTEMS INC US -914 47.83 -43,717 -0.05
PENUMBRA INC US -1,089 122.20 -133,076 -0.16
PLATFORM SPECIALTY PRODUCTS US -3,415 10.33 -35,277 -0.04
PROOFPOINT INC US -2,392 83.81 -200,474 -0.24
PURE STORAGE INC - CLASS A US -3,437 16.08 -55,267 -0.07
QEP RESOURCES INC US -5,091 5.63 -28,662 -0.03
QORVO INC US -669 60.73 -40,628 -0.05
QUANTA SERVICES INC US -1,136 30.10 -34,194 -0.04
RENAISSANCERE HOLDINGS LTD BM -2,088 133.70 -279,166 -0.33
SAGE THERAPEUTICS INC US -122 95.79 -11,686 -0.01
SEALED AIR CORP US -17,390 34.84 -605,868 -0.71
SERVICEMASTER GLOBAL HOLDING US -2,873 36.74 -105,554 -0.12
SIGNATURE BANK US -1,025 102.81 -105,380 -0.12
SITE CENTERS CORP US -3,687 11.07 -40,815 -0.05
SPWX 01/25/19 WC2485 01/26/2019 US -21 74.90 -157,290 -0.19
SPX 01/18/19 WC2425 01/19/2019 US -21 108.00 -226,800 -0.27
SPX 01/18/19 WP2415 01/19/2019 US -14 26.10 -36,540 -0.04
SPXW 01/04/19 WC2650 01/05/2019 US -21 0.24 -504 0.00
SPXW 01/18/19 WC2430 01/19/2019 US -178 105.10 -1,870,780 -2.20
SPXW 01/18/19 WC2640 01/19/2019 US -55 6.60 -36,300 -0.04
SPXW 01/18/19 WP2375 01/19/2019 US -9 16.73 -15,057 -0.02
STERICYCLE INC US -7,771 36.69 -285,118 -0.34
STERLING BANCORP/DE US -7,030 16.51 -116,065 -0.14
SUN COMMUNITIES INC US -1,071 101.71 -108,931 -0.13
TABLEAU SOFTWARE INC-CL A US -737 120.00 -88,440 -0.10
TAUBMAN CENTERS INC US -5,847 45.49 -265,980 -0.31
TEMPUR SEALY INTERNATIONAL I US -648 41.40 -26,827 -0.03
TESLA INC US -839 332.80 -279,219 -0.33
TFS FINANCIAL CORP US -87,531 16.13 -1,411,875 -1.66
TREEHOUSE FOODS INC US -4,859 50.71 -246,400 -0.29
UNITED STATES STEEL CORP US -3,547 18.24 -64,697 -0.08
UNITI GROUP INC US -17,500 15.57 -272,475 -0.32
UTY 01/18/19 WC670 01/19/2019 US -16 16.50 -26,400 -0.03
VIRTU FINANCIAL INC-CLASS A US -16,503 25.76 -425,117 -0.50
VORNADO REALTY TRUST US -313 62.03 -19,415 -0.02
WABCO HOLDINGS INC US -101 107.34 -10,841 -0.01
WABTEC CORP US -1,130 70.25 -79,383 -0.09
WATERS CORP US -765 188.65 -144,317 -0.17
WHITE MOUNTAINS INSURANCE GP US -964 857.69 -826,813 -0.97
WORKDAY INC-CLASS A US -704 159.68 -112,415 -0.13
WORLDPAY INC-CLASS A US -619 76.43 -47,310 -0.06
WPX ENERGY INC US -16,929 11.35 -192,144 -0.23
WR GRACE & CO US -640 64.91 -41,542 -0.05
ZILLOW GROUP INC - A US -6,245 31.43 -196,280 -0.23
ZILLOW GROUP INC - C US -5,922 31.58 -187,017 -0.22
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset & Alternative Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.

Management

Management

Actively Managed and Sub-Advised by Wells Capital Management, Inc.
Silva

Harindra de Silva Ph.D., CFA

Investment Experience since 1986 

Career Summary 
Wells Capital Management, Inc.
Analytic Investors
Analysis Group Inc. 

Education 
Ph.D. - Finance, UC Irvine
MBA - Finance, University of Rochester
MS - Econometrics, University of Rochester
BS - Mechanical Engineering, University of Manchester
Dennis Bein

Dennis Bein, CFA

Investment Experience since 1991 

Career Summary 
Wells Capital Management, Inc.
Analytic Investors
Analysis Group Inc. 

Education 
MBA - Finance, UC Riverside
BS - Business Administration, UC Riverside
Brown

Ryan Brown, CFA

Investment Experience since 2006 

Career Summary 
Wells Capital Management, Inc.
Analytic Investors
Beekman Capital Management 

Education 
MS - Finance, University of Utah
BS - Economics, Brigham Young University
McCurran

Gregory McMurran

Investment Experience since 1977 

Career Summary 
Wells Capital Management, Inc.
Analytic Investors

Education 
MA - Economics, California State University, Fullerton
BA - Economics, UC Irvine

Fees

Total Annual Fund Operating Expense Ratio
Net Annual Fund Operating Expense Ratio
Touchstone Advisors, Inc. and the Funds Trust have entered into a contractual expense limitation agreement whereby Touchstone Advisors will waive a portion of its fees or reimburse certain Fund expenses (excluding dividend and interest expenses relating to short sales; interest; taxes; brokerage commissions and other transaction costs; portfolio transactions and investment related expenses; other expenditures which are capitalized in accordance with U.S. generally accepted accounting principles; the costs of “Acquired Fund Fees and Expenses,” if any; and other extraordinary expenses not incurred in the ordinary course of business) in order to limit certain annual Fund operating expenses to 1.55% for Class A Shares, 2.30% for Class C Shares, 1.30% for Class Y Shares and 1.25% for Class INST Shares. This contractual expense limitation is effective through 04/29/2019.

Distributions

Capital Gain and Income Distribution as of
Pay Date Income Distribution Short Term Capital Gains Per Share Long Term Capital Gains Per Share Total Capital Gains Per Share

Resources

Consider Touchstone Dynamic Equity Fund for Your Portfolio

Touchstone Dynamic Equity Fund invests in a combination of equity securities, short-term debt securities and derivative instruments to build a long/short equity portfolio that utilizes a covered call strategy. It seeks to provide long-term capital appreciation.

Contact Us Now

Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and the summary prospectus contain this and other information about the fund. To obtain a prospectus or a summary prospectus, contact your financial advisor or download and/or request one at Resources & Tools. Please read the prospectus and/or summary prospectus carefully before investing.

Investment return and principal value of an investment in a Fund will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. All investing involves risk.

Touchstone Funds are distributed by Touchstone Securities, Inc., a registered broker-dealer and member FINRA/SIPC


Investment products offered are not FDIC insured, may lose value and have no bank guarantee.

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