Fund Evaluator:
Barrow Hanley US Value Opportunities I (BVOIX)
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Best Performing in Large Value Over the Last Year
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Fund Details
Barrow Hanley US Value Opportunities I Overview
Barrow Hanley US Value Opportunities I (BVOIX) is an actively managed U.S. Equity Large Value fund. Perpetual Funds launched the fund in 2022.
The investment seeks to outperform the fund’s benchmark over a full market cycle. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities issued by U.S. companies. The fund invests primarily in a portfolio of equity securities issued by large, middle, and small capitalization U.S. companies and may also invest in convertible securities, preferred stock, real estate investment trusts (“REITs”) and American Depositary Receipts (“ADRs”).
About Barrow Hanley US Value Opportunities I (BVOIX)
There are 3 members of the management team with an average tenure of 4.39 years: Michael Nayfa (2022), Terry Pelzel (2022), Mark Giambrone (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. Barrow Hanley US Value Opportunities I has 105 securities in its portfolio. The top 10 holdings constitute 22.5% 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.
Barrow Hanley US Value Opportunities I is part of the Equity global asset class and is within the U.S. Equity fund group. Barrow Hanley US Value Opportunities I has 4.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 94.5%. There is 4.0% 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). Barrow Hanley US Value Opportunities I has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $97 million in total assets, which is below the $1 billion average for the Large 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.
BVOIX 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 Barrow Hanley US Value Opportunities I expense ratio is above average compared to funds in the Large Value category. Barrow Hanley US Value Opportunities I has an expense ratio of 0.70%, which is 24% lower than its category average, making the fund expense ratio grade a B. 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. Barrow Hanley US Value Opportunities I has a portfolio turnover rate of 50%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 63% for the Large Value category.
Recently, in the month of August 2026, Barrow Hanley US Value Opportunities I returned 0.2%, which earned it a grade of F, as the Large Value category had an average return of 1.6%. 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.
Barrow Hanley US Value Opportunities I has a trailing yield of 1.05%, which is below the 1.17% 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.
Barrow Hanley US Value Opportunities I Grades
Year to date, the fund has returned 10.0%, 6.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 14.7% over the past year (grade of F) and 16.9% over the past three years (grade of C).
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BVOIX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BVOIX Return (NAV) | 0.2% | 0.3% | 14.7% | 16.9% | na | na |
| BVOIX Grade | F | F | F | C | na | na |
| +/- Category | -1.4% | -5.9% | -6.9% | -0.3% | na | na |
| Large Value Avg | 1.6% | 6.2% | 21.6% | 17.3% | 10.7% | 11.4% |
| BVOIX Tax Cost Ratio | na | na | 3.6% | 2.3% | na | na |
BVOIX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BVOIX Return (NAV) | 10.0% | 12.9% | 20.9% | 13.0% | na | na | na | na | na | na | na |
| BVOIX Grade | F | D | A | B | na | na | na | na | na | na | na |
| +/- Category | -6.2% | -2.2% | 6.7% | 1.2% | na | na | na | na | na | na | na |
| Large Value Avg | 16.1% | 15.1% | 14.1% | 11.8% | -6.1% | 25.7% | 3.9% | 25.6% | -8.5% | 16.5% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 11.8% |
| Total Risk Index: | 0.97 - Average |
| Category Risk Index: | 1.00 - Average |
| Category Risk Grade: | C (52% Rank) |
| Beta: | 0.79 |
| R-Squared: | 74% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $97 Mil |
| Fund Total Assets: | $ 98 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 51% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 4.4 years | |||
| Average Tenure: 4.4 years | |||
| Managers (Year): Nayfa Michael (2022), Pelzel Terry (2022), Giambrone Mark (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 105 |
| % in Top 10 Holdings: | 22.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.0% |
Portfolio Allocation |
|
| Domestic Stock: | 94.5% |
| Foreign Stock: | 4.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
Purchase Information
| Fund Family: | Perpetual Funds |
| Phone Number: | 866-778-6397 |
| Website: |
| Status: | Open |
| Inception Date: | April 12, 2022 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| 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 (%): | 0.70% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Barrow Hanley US Value Opportunities I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
