Fund Evaluator:

Bridge Builder Small/Mid Cap Value Overview

Bridge Builder Small/Mid Cap Value (BBVSX) is an actively managed U.S. Equity Mid-Cap Value fund. Bridge Builder launched the fund in 2015.

The investment seeks to provide capital appreciation. The fund invests, under normal market conditions, at least 80% of its net assets (plus the amount of borrowings for investment purposes) in the securities of small and mid capitalization companies and other instruments, such as certain investment companies, that seek to track the performance of securities of small and mid capitalization companies. It may invest in securities issued by U.S. and foreign entities.

About Bridge Builder Small/Mid Cap Value (BBVSX)

There are 23 members of the management team with an average tenure of 2.13 years: Matthew McGeary (2026), Steven Pollack (2015), Frederick Konopka (2026), Daniel Mahr (2026), Matthew Spitznagle (2026), Jeff John (2021), Edmund Woods (2026), Jason Wulff (2026), John Lewicke (2026), Nick Zylkowski (2026), Damien Zhang (2026), Richard Offen (2019), Ryan Cope (2021), Anthony Philipp (2026), Timothy Collard (2023), Jeremy Field (2026), Jeffrey Allen (2025), Alexander Waldorf (2025), Brian Causey (2026), Evgenia Gvozdeva (2026), Christina Shockley (2026), Roger Vogel (2015), Ryan Crane (2026). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 2500 Value TR USD index with a weighting of 100%. Bridge Builder Small/Mid Cap Value has 2142 securities in its portfolio. The top 10 holdings constitute 38.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Bridge Builder Small/Mid Cap Value is part of the Equity global asset class and is within the U.S. Equity fund group. Bridge Builder Small/Mid Cap Value has 2.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 78.7%. There is 2.0% 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). Bridge Builder Small/Mid Cap Value has 19.3% of the portfolio in cash.

Assets Under Management

The fund has $9 billion in total assets, which is above the $617 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.

BBVSX 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 Bridge Builder Small/Mid Cap Value expense ratio is below average compared to funds in the Mid-Cap Value category. Bridge Builder Small/Mid Cap Value has an expense ratio of 0.38%, which is 63% lower than its category average, making the fund expense ratio grade a A. 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. Bridge Builder Small/Mid Cap Value has a portfolio turnover rate of 56%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 52% for the Mid-Cap Value category.

Recently, in the month of September 2026, Bridge Builder Small/Mid Cap Value returned -5.2%, which earned it a grade of B, as the Mid-Cap Value category had an average return of -5.6%. 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.

Bridge Builder Small/Mid Cap Value has a trailing yield of 1.14%, which is above the 0.90% 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.

Bridge Builder Small/Mid Cap Value Grades

Year to date, the fund has returned 10.9%, 0.5 percentage points better than the category, which translates into a grade of C. The fund has returned 12.3% over the past year (grade of C), 15.3% over the past three years (grade of B) and 8.6% per year over the past five years (grade of C) and 9.6% per year over the past 10 years (grade of C).

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