Fund Evaluator:
Champlain Mid Cap Institutional (CIPIX)
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Best Performing in Mid-Cap Growth Over the Last Year
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Fund Details
Champlain Mid Cap Institutional Overview
Champlain Mid Cap Institutional (CIPIX) is an actively managed U.S. Equity Mid-Cap Growth fund. Champlain Funds launched the fund in 2011.
The investment seeks capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities of medium-sized companies. It seeks capital appreciation by investing mainly in common stocks of medium-sized companies that the Adviser believes have strong long-term fundamentals, superior capital appreciation potential and attractive valuations.
About Champlain Mid Cap Institutional (CIPIX)
There are 11 members of the management team with an average tenure of 9.52 years: Joseph Farley (2014), Finn McCoy (2008), Joseph Caligiuri (2010), James Mallon (2023), Henry Sinkula (2022), Courtney Flyer (2018), Jacqueline Williams (2019), Ethan Ellison (2020), Rachel Drakon (2020), Scott Brayman (2008), Robert Hallisey (2016). 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 Mid Cap TR USD index with a weighting of 100%. Champlain Mid Cap Institutional has 72 securities in its portfolio. The top 10 holdings constitute 23.0% 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.
Champlain Mid Cap Institutional is part of the Equity global asset class and is within the U.S. Equity fund group. Champlain Mid Cap Institutional has 2.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.6%. There is 2.1% 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). Champlain Mid Cap Institutional has 2.3% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $658 million average for the Mid-Cap Growth 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.
CIPIX 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 Champlain Mid Cap Institutional expense ratio is high compared to funds in the Mid-Cap Growth category. Champlain Mid Cap Institutional has an expense ratio of 0.86%, which is 21% 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. Champlain Mid Cap Institutional has a portfolio turnover rate of 44%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Mid-Cap Growth category.
Recently, in the month of July 2026, Champlain Mid Cap Institutional returned 0.9%, which earned it a grade of A, as the Mid-Cap Growth category had an average return of -5.5%. 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.
Champlain Mid Cap Institutional has a trailing yield of 0.00%, which is below the 0.03% 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.
Champlain Mid Cap Institutional Grades
Year to date, the fund has returned 3.6%, 2.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 2.5% over the past year (grade of C), 4.7% over the past three years (grade of F) and 0.4% per year over the past five years (grade of D) and 9.8% per year over the past 10 years (grade of D).
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CIPIX 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 |
|
| CIPIX Return (NAV) | 0.9% | 10.8% | 2.5% | 4.7% | 0.4% | 9.8% |
| CIPIX Grade | A | A | C | F | D | D |
| +/- Category | 6.5% | 8.7% | -2.9% | -5.8% | -2.1% | -1.0% |
| Mid-Cap Growth Avg | -5.5% | 2.1% | 5.5% | 10.5% | 2.5% | 10.9% |
| CIPIX Tax Cost Ratio | na | na | 3.5% | 1.8% | 1.7% | 1.6% |
CIPIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CIPIX Return (NAV) | 3.6% | 1.7% | 6.2% | 15.7% | -26.3% | 24.9% | 29.4% | 26.6% | 3.8% | 19.5% | 18.7% |
| CIPIX Grade | C | D | F | F | B | A | D | F | A | F | A |
| +/- Category | -2.1% | -4.4% | -11.1% | -5.1% | 1.8% | 12.6% | -11.1% | -7.4% | 8.4% | -5.8% | 13.4% |
| Mid-Cap Growth Avg | 5.7% | 6.1% | 17.3% | 20.8% | -28.1% | 12.3% | 40.4% | 33.9% | -4.6% | 25.3% | 5.3% |
| Risk Measures | |
| Standard Deviation: | 15.8% |
| Total Risk Index: | 1.29 - Above Average |
| Category Risk Index: | 0.83 - Low |
| Category Risk Grade: | A (16% Rank) |
| Beta: | 1.00 |
| R-Squared: | 68% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1160 Mil |
| Fund Total Assets: | $1,074 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 44% |
Management Team
| Number of Managers: 11 | |||
| Longest Tenure: 18.1 years | |||
| Average Tenure: 9.5 years | |||
| Managers (Year): McCoy Finn (2008), Brayman Scott (2008), Caligiuri Joseph (2010), Farley Joseph (2014), Hallisey Robert (2016), Flyer Courtney (2018), Williams Jacqueline (2019), Ellison Ethan (2020), Drakon Rachel (2020), Sinkula Henry (2022), Mallon James (2023) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 72 |
| % in Top 10 Holdings: | 23.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.1% |
Portfolio Allocation |
|
| Domestic Stock: | 95.6% |
| Foreign Stock: | 2.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.3% |
Purchase Information
| Fund Family: | Champlain Funds |
| Phone Number: | 866-773-3238 |
| Website: | www.cipvt.com |
| Status: | Open |
| Inception Date: | January 3, 2011 |
| Min. Initial Purchase: | $1,000,000 |
| 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 (%): | 0.86% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.09% |
| Share Class: | Champlain Mid Cap Adv |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
