Touchstone Value Fund

Daily NAV
$
Overall Morningstar RatingTM
Large Value

Morningstar

Overall Morningstar RatingTM is calculated against 1099 funds in the Large Value 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 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.
Active Share
71 %

Active Share

Active Share measures the percentage of the Fund’s holdings that differ from those of the benchmark. It is calculated by taking the sum of the absolute difference between all of the holdings and weights in the portfolio and those of the benchmark holdings and weights and dividing the results by two.

Active
Closet Index
Passive
 100%-80%  80%-60%  60%-40% 40%-20%   20%-0%
Generally, a Fund with an active share of more than 60% is considered actively managed. Active Share is not a performance measurement. A high degree of Active Share does not assure outperformance of a fund relative to its benchmark index. 
 

Overview

Overview

Actively Managed and Sub-Advised by Barrow, Hanley, Mewhinney & Strauss, LLC

Objective

The fund seeks long-term capital growth by investing primarily in equity securities of large- and mid-cap companies believed to be undervalued.

Value Fund Fund Commentary

Investment Approach

  • Stock selection is driven by fundamental securities analysis on individual companies rather than by broad market themes
  • Utilizes traditional methods of stock selection, research, and analysis, to identify securities of companies that have price-to-earnings and price-to-book ratios below the market and dividend yields above the market
  • Focuses on companies that are out of favor due to internal or external challenges judged to be short-term in nature
  • Seeks to identify the reasons for a temporary undervaluation of a company's shares and believes that value can be added through individual stock selection
  • Utilizes risk management tools in an effort to prevent overexposure to particular market segments
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 mid-cap companies which may be subject to more erratic market movements than stocks of larger, more established companies. The Fund invests in value stocks which may not appreciate in value as anticipated or may experience a decline in value. The Fund invests in preferred stocks which are relegated below bonds for payment should the issuer be liquidated. The fixed dividend may be less attractive in a rising interest rate market. The Fund invests in foreign securities, including depositary receipts, such as ADRs, GDRs and EDRs, which carry the associated risks of economic and political instability, market liquidity, currency volatility and differences in accounting standards. The Fund may focus its investments in specific sectors and therefore be susceptible to positive or negative developments in the sector which may increase the Fund’s volatility and magnify its effects on total return. Current and future portfolio holdings are subject to risk. The advisor engages the sub-advisor to manage the Fund's portfolio; the sub-advisor's judgment may impact the Fund's performance.

Fund Facts

Symbol
CUSIP
Share Class Inception Date
Total Share Class Net Assets as of 06/30/2018
Total Fund Net Assets as of 06/30/2018 $385,061,098
Asset Class US Equity
Morningstar Category Large Value
Benchmark Russell 1000® Value Index
Distribution Frequency Quarterly
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date 10/30/2017

Performance

Daily Returns as of
NAV NAV $ Change
Touchstone Value Fund -
HISTORICAL DAILY NAV
as of 07/31/2018 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Value Fund -
Including Sales Charge
Touchstone Value Fund -
Excluding Sales Charge
Russell 1000® Value Index 3.96% 4.83% 2.20% 9.54% 9.51% 10.04% 8.95% --
as of 06/30/2018 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Value Fund -
Including Sales Charge
Touchstone Value Fund -
Excluding Sales Charge
Russell 1000® Value Index 6.77% 8.26% 10.34% 8.49% --
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 Funds will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. 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 Equity Funds is 5.75%.
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 Funds will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. 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 in effect at the end of the specified period. The contingent deferred sales charge 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 Funds will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. 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 NAV, without an initial sales charge and are not subject to a 12b-1 fee or CDSC, but may be subject to higher initial investment requirements than other classes of shares of a Fund.
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 Funds 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, may lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains.
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, 09/10/98, with the performance since the inception date of each share class.

Consider Touchstone Value Fund for Your Portfolio

Seeking long-term capital growth by Investing primarily in equity securities of large- and mid-cap companies believed to be undervalued, Touchstone Value Fund utilizes fundamental securities analysis on individual companies rather than broad market themes to drive stock selection.
Contact Us Now

Portfolio

as of 06/30/2018
Number of Holdings
44
Active Share
71%

Active Share

Active Share measures the percentage of the Fund’s holdings that differ from those of the benchmark. It is calculated by taking the sum of the absolute difference between all of the holdings and weights in the portfolio and those of the benchmark holdings and weights and dividing the results by two.

Active
Closet Index
Passive
 100%-80%  80%-60%  60%-40% 40%-20%   20%-0%
Generally, a Fund with an active share of more than 60% is considered actively managed. Active Share is not a performance measurement. A high degree of Active Share does not assure outperformance of a fund relative to its benchmark index. 
 
Weighted Average Market Capitalization
$141.6 B
Median Market Capitalization
$98.4 B
Price Earnings Ratio
(Weighted Harmonic Average)
17.7x
Price to Book Ratio
(Weighted Harmonic Average)
2.2x
as of 06/30/2018
Composition % of Portfolio
Equities 97.6
Cash Equivalents 2.4
as of 06/30/2018
Sector % of Portfolio
Financials 19.2
Healthcare 18.8
Energy 17.4
Information Technology 11.8
Consumer Discretionary 11.6
Industrials 9.1
Materials 6.0
Consumer Staples 4.3
Utilities 1.2
Telecommunication Services 0.6
Real Estate 0.0
as of 07/31/2018
Security Description % of Portfolio
PHILLIPS 66 3.9
LOWE'S COS INC 3.5
DOLLAR GENERAL CORP 3.4
JPMORGAN CHASE & CO 3.4
MICROSOFT CORP 3.4
WELLS FARGO & CO 3.4
AIR PRODUCTS & CHEMICALS INC 3.2
CONOCOPHILLIPS 3.2
MEDTRONIC PLC 3.2
COMCAST CORP-CLASS A 3.2
as of 06/30/2018
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
ADVANCE AUTO PARTS INC US 30,857 135.70 4,187,295 1.09
AIR PRODUCTS & CHEMICALS INC US 77,763 155.73 12,110,032 3.15
ALTRIA GROUP INC US 141,101 56.79 8,013,126 2.08
AMERICAN EXPRESS CO US 97,933 98.00 9,597,434 2.49
AMERICAN INTERNATIONAL GROUP US 180,307 53.02 9,559,877 2.48
ANTHEM INC US 40,543 238.03 9,650,450 2.51
BANK OF AMERICA CORP US 291,051 28.19 8,204,728 2.13
BANK OF NEW YORK MELLON CORP US 73,229 53.93 3,949,240 1.03
BP PLC-SPONS ADR GB 301,846 45.66 13,782,288 3.58
BROADCOM INC US 14,818 242.64 3,595,440 0.93
CARDINAL HEALTH INC US 99,285 48.83 4,848,087 1.26
CHEVRON CORP US 74,923 126.43 9,472,515 2.46
CITIGROUP INC US 124,593 66.92 8,337,764 2.17
COMCAST CORP-CLASS A US 304,989 32.81 10,006,689 2.60
CONOCOPHILLIPS US 187,819 69.62 13,075,959 3.40
CVS HEALTH CORP US 142,091 64.35 9,143,556 2.38
DOLLAR GENERAL CORP US 139,252 98.60 13,730,247 3.57
DOWDUPONT INC US 159,566 65.92 10,518,591 2.73
DREYFUS-GOV C-IN US 9,306,339 1.00 9,306,339 2.42
EXELON CORP US 103,729 42.60 4,418,855 1.15
EXPRESS SCRIPTS HOLDING CO US 87,519 77.21 6,757,342 1.76
GENERAL DYNAMICS CORP US 32,347 186.41 6,029,804 1.57
GENERAL ELECTRIC CO US 585,714 13.61 7,971,568 2.07
JOHNSON & JOHNSON US 63,512 121.34 7,706,546 2.00
JOHNSON CONTROLS INTERNATION US 305,290 33.45 10,211,951 2.65
JPMORGAN CHASE & CO US 117,335 104.20 12,226,307 3.18
LOWE'S COS INC US 138,720 95.57 13,257,470 3.45
MEDTRONIC PLC US 139,715 85.61 11,961,001 3.11
MERCK & CO. INC. US 77,656 60.70 4,713,719 1.23
MICROSOFT CORP US 126,801 98.61 12,503,847 3.25
OCCIDENTAL PETROLEUM CORP US 114,457 83.68 9,577,762 2.49
ORACLE CORP US 254,556 44.06 11,215,737 2.91
PFIZER INC US 286,676 36.28 10,400,605 2.70
PHILIP MORRIS INTERNATIONAL US 100,781 80.74 8,137,058 2.11
PHILLIPS 66 US 124,876 112.31 14,024,824 3.64
QUALCOMM INC US 152,481 56.12 8,557,234 2.22
SANOFI-ADR FR 136,608 40.01 5,465,686 1.42
SCHLUMBERGER LTD US 81,120 67.03 5,437,474 1.41
TEXAS INSTRUMENTS INC US 76,004 110.25 8,379,441 2.18
TWENTY-FIRST CENTURY FOX-A US 49,990 49.69 2,484,003 0.65
UNITED TECHNOLOGIES CORP US 78,776 125.03 9,849,363 2.56
VERIZON COMMUNICATIONS INC US 44,007 50.31 2,213,992 0.58
WELLS FARGO & CO US 234,007 55.44 12,973,348 3.37
XL GROUP LTD BM 128,921 55.95 7,213,130 1.87
Data may not total due to rounding.
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.
For the data illustrated for Touchstone Domestic Equity Funds,  Morningstar is the source. For Russell index information,  the Frank Russell Company is the source and owner. For MSCI index information, the MSCI is the source and owner. 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. Calculations for sectors and top holdings exclude cash equivalents. All holdings data is sourced from BNY Mellon Asset Servicing.

Management

Management

Actively Managed and Sub-Advised by Barrow, Hanley, Mewhinney & Strauss, LLC
Giambrone

Mark Giambrone

Investment Experience  since 1992 

Career Summary 
Barrow, Hanley, Mewhinney & Strauss, LLC
HOLT Value Associates
KMPG Peat Marwick
Ernst & Young Kenneth Leventhal 

Education 
MBA - University of Chicago
BS - Indiana University
Ropp

R. Lewis Ropp

Investment Experience since 1981 

Career Summary 
Barrow, Hanley, Mewhinney & Strauss, LLC 
Frost Securities 
Shell Oil Company 
Howard, Weil, Labouisse, Fredrichs Inc.  

Education 
MBA, MS - Tulane University 
BS - University of Louisiana at Lafayette 
Ganucheau

David W. Ganucheau, CFA

Investment Experience since 1996 

Career Summary 
Barrow, Hanley, Mewhinney & Strauss, LLC
Clover Partners LP
GSB Investment Management 

Education 
BA - Southern Methodist University
Fahrenbruch

Jeff G. Fahrenbruch, CFA

Investment Experience since 1997 

Career Summary 
Barrow, Hanley, Mewhinney & Strauss, LLC
Westwood Holdings Group 

Education 
BA - University of Texas

Fees

Total Annual Fund Operating Expense Ratio
Net Annual Fund Operating Expense Ratio
Touchstone Advisors has contractually agreed to waive a portion of its fees and/or reimburse certain Fund expenses in order to limit certain annual fund operating expenses (excluding Acquired Fund Fees and Expenses “AFFE,” and other expenses, if any) to 1.08% for Class A Shares, 1.83% for Class C Shares, 0.83% for Class Y Shares and 0.68% for Class INST Shares. These expense limitations will remain in effect until at least 10/29/2018.

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 Value Fund for Your Portfolio

Seeking long-term capital growth by Investing primarily in equity securities of large- and mid-cap companies believed to be undervalued, Touchstone Value Fund utilizes fundamental securities analysis on individual companies rather than broad market themes to drive stock selection.
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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