Fund Evaluator:
Copeland SMID Cap Dividend Growth A (CSDGX)
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Fund Details
Copeland SMID Cap Dividend Growth A Overview
Copeland SMID Cap Dividend Growth A (CSDGX) is an actively managed U.S. Equity Small Blend fund. Copeland Funds launched the fund in 2019.
The investment seeks long-term capital appreciation and income generation. The fund is primarily composed of common and preferred stocks, master limited partnership units ("MLPs") and equity real estate investment trusts ("REITs") of U.S. companies. Under normal market conditions, it invests at least 80% of its net assets (including borrowings for investment purposes) in securities of small and mid-capitalization companies that pay a dividend and that have increased their dividend in the most recent annual period. The adviser sells securities when they fail to raise their dividend or no longer meet its fundamental stock selection criteria.
About Copeland SMID Cap Dividend Growth A (CSDGX)
There are 4 members of the management team with an average tenure of 9.43 years: David McGonigle (2017), Eric Brown (2017), Mark Giovanniello (2017), Jeff Walkenhorst (2017). 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 TR USD index with a weighting of 100%. Copeland SMID Cap Dividend Growth A has 72 securities in its portfolio. The top 10 holdings constitute 21.4% 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.
Copeland SMID Cap Dividend Growth A is part of the Equity global asset class and is within the U.S. Equity fund group. Copeland SMID Cap Dividend Growth A has 4.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 94.4%. There is 4.3% 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). Copeland SMID Cap Dividend Growth A has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $1 million in total assets, which is below the $685 million average for the Small Blend 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.
CSDGX 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 Copeland SMID Cap Dividend Growth A expense ratio is high compared to funds in the Small Blend category. Copeland SMID Cap Dividend Growth A has an expense ratio of 1.20%, which is 15% higher than its category average, making the fund expense ratio grade a D. 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. Copeland SMID Cap Dividend Growth A has a portfolio turnover rate of 66%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 66% for the Small Blend category.
Recently, in the month of July 2026, Copeland SMID Cap Dividend Growth A returned -1.4%, which earned it a grade of A, as the Small Blend category had an average return of -2.8%. 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.
Copeland SMID Cap Dividend Growth A has a trailing yield of 0.42%, which is below the 0.42% category average. The fund normally distributes its income 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.
Copeland SMID Cap Dividend Growth A Grades
Year to date, the fund has returned 12.9%, 5.2 percentage points worse than the category, which translates into a grade of F. The fund has returned 15.5% over the past year (grade of F), 6.3% over the past three years (grade of F) and 4.8% per year over the past five years (grade of F).
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CSDGX 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 |
|
| CSDGX Return (NAV) | -1.4% | 2.8% | 15.5% | 6.3% | 4.8% | na |
| CSDGX Grade | A | F | F | F | F | na |
| +/- Category | 1.4% | -2.4% | -12.8% | -7.2% | -2.8% | na |
| Small Blend Avg | -2.8% | 5.2% | 28.3% | 13.5% | 7.6% | 10.3% |
| CSDGX Tax Cost Ratio | na | na | 0.7% | 0.4% | 0.8% | na |
CSDGX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CSDGX Return (NAV) | 12.9% | 2.5% | 1.9% | 18.5% | -15.0% | 22.2% | 8.1% | 28.1% | -5.5% | na | na |
| CSDGX Grade | F | F | F | B | B | C | D | B | A | na | na |
| +/- Category | -5.2% | -5.4% | -9.6% | 2.1% | 1.5% | -1.1% | -6.3% | 2.6% | 6.4% | na | na |
| Small Blend Avg | 18.2% | 7.9% | 11.6% | 16.5% | -16.5% | 23.2% | 14.4% | 25.5% | -11.8% | 14.1% | 20.2% |
| Risk Measures | |
| Standard Deviation: | 16.0% |
| Total Risk Index: | 1.30 - Above Average |
| Category Risk Index: | 0.86 - Low |
| Category Risk Grade: | A (5% Rank) |
| Beta: | 0.89 |
| R-Squared: | 53% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $115 Mil |
| Fund Total Assets: | $ 1 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 66% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 9.4 years | |||
| Average Tenure: 9.4 years | |||
| Managers (Year): McGonigle David (2017), Brown Eric (2017), Giovanniello Mark (2017), Walkenhorst Jeff (2017) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 72 |
| % in Top 10 Holdings: | 21.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.3% |
Portfolio Allocation |
|
| Domestic Stock: | 94.4% |
| Foreign Stock: | 4.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.3% |
Purchase Information
| Fund Family: | Copeland Funds |
| Phone Number: | 888-926-7352 |
| Website: | www.copelandcapital.com |
| Status: | Open |
| Inception Date: | February 11, 2019 |
| Min. Initial Purchase: | $5,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 1.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.20% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | Copeland SMID Cap Dividend Growth I |
| Min. Subsequent Purchase: | $ 500 |
| Min. Subsequent IRA Purchase: | $ 50 |
