Fund Evaluator:
Adler Value Institutional (ADLVX)
Follow This Fund
Best Performing in Mid-Cap Value Over the Last Year
| 41.4% | Fidelity Value Strategies (FSLSX) |
| 39.3% | Fidelity Advisor Mid Cap Value Z (FIDFX) |
| 39.2% | Fidelity Mid Cap Value (FSMVX) |
| 38.8% | Harbor Mid Cap Value Instl (HAMVX) |
| 38.3% | Harbor Mid Cap Value Investor (HIMVX) |
Fund Details
Adler Value Institutional Overview
Adler Value Institutional (ADLVX) is an actively managed U.S. Equity Mid-Cap Value fund. Adler launched the fund in 2018.
The investment seeks to achieve long-term growth of capital. The fund seeks to achieve its investment objective by investing principally in equity securities of U.S. and non-U.S. issuers, including common stocks, depositary receipts evidencing ownership of common stocks issued by a foreign issuer ("ADRs"), preferred stocks, securities convertible into common stocks, and securities that carry the right to buy common stocks (e.g., rights, warrants, and options) of companies the Adviser believes are undervalued by the equity market based on the Adviser's assessment of the company. The fund is non-diversified.
About Adler Value Institutional (ADLVX)
There are 1 members of the management team with an average tenure of 8.01 years: David Adler (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and S&P 500 Value TR USD index with a weighting of 100%. Adler Value Institutional has 43 securities in its portfolio. The top 10 holdings constitute 67.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is considered to have an ESG focus with its investment selection and management.
Adler Value Institutional is part of the Equity global asset class and is within the U.S. Equity fund group. Adler Value Institutional has 12.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 76.0%. There is 12.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Adler Value Institutional has 11.4% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $642 million average for the Mid-Cap Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ADLVX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Adler Value Institutional expense ratio is high compared to funds in the Mid-Cap Value category. Adler Value Institutional has an expense ratio of 1.31%, which is 27% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Adler Value Institutional has a portfolio turnover rate of 22%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Value category.
Recently, in the month of July 2026, Adler Value Institutional returned 2.6%, which earned it a grade of B, as the Mid-Cap Value category had an average return of 1.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Adler Value Institutional has a trailing yield of 0.94%, which is above the 0.87% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Adler Value Institutional Grades
Year to date, the fund has returned 5.4%, 10.1 percentage points worse than the category, which translates into a grade of F. The fund has returned 15.7% over the past year (grade of F), 11.0% over the past three years (grade of D) and 4.9% per year over the past five years (grade of F).
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ADLVX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ADLVX Return (NAV) | 2.6% | 1.9% | 15.7% | 11.0% | 4.9% | na |
| ADLVX Grade | B | F | F | D | F | na |
| +/- Category | 0.9% | -4.1% | -7.4% | -2.4% | -4.5% | na |
| Mid-Cap Value Avg | 1.7% | 6.0% | 23.1% | 13.4% | 9.4% | 10.1% |
| ADLVX Tax Cost Ratio | na | na | 0.4% | 0.5% | 1.2% | na |
ADLVX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ADLVX Return (NAV) | 5.4% | 15.2% | 10.2% | 5.3% | -11.3% | 26.5% | 11.5% | 16.9% | na | na | na |
| ADLVX Grade | F | A | D | F | F | D | A | F | na | na | na |
| +/- Category | -10.1% | 5.4% | -1.6% | -8.5% | -3.1% | -1.0% | 7.7% | -9.5% | na | na | na |
| Mid-Cap Value Avg | 15.5% | 9.9% | 11.8% | 13.9% | -8.2% | 27.5% | 3.8% | 26.3% | -13.4% | 14.1% | 17.4% |
| Risk Measures | |
| Standard Deviation: | 13.6% |
| Total Risk Index: | 1.11 - Above Average |
| Category Risk Index: | 0.93 - Below Average |
| Category Risk Grade: | B (24% Rank) |
| Beta: | 0.67 |
| R-Squared: | 41% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $4 Mil |
| Fund Total Assets: | $ 4 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 22% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 8.0 years | |||
| Average Tenure: 8.0 years | |||
| Managers (Year): Adler David (2018) | |||
Portfolio Composition (as of 2/28/26)
| # of Holdings: | 43 |
| % in Top 10 Holdings: | 67.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 12.6% |
Portfolio Allocation |
|
| Domestic Stock: | 76.0% |
| Foreign Stock: | 12.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 11.4% |
Purchase Information
| Fund Family: | Adler |
| Phone Number: | 800-408-4682 |
| Website: |
| Status: | Open |
| Inception Date: | August 16, 2018 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.31% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | Adler Value Institutional |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
