Fund Evaluator:
Nuveen Small Cap Growth Opp A (FRMPX)
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Fund Details
Nuveen Small Cap Growth Opp A Overview
Nuveen Small Cap Growth Opp A (FRMPX) is an actively managed U.S. Equity Small Growth fund. Nuveen launched the fund in 1995.
The investment seeks growth of capital. Under normal circumstances, the fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in equity securities of small-capitalization growth companies. Small-capitalization companies are defined as companies that have market capitalizations within the market capitalization range of the companies in the Russell 2000® Index on the last business day of the month in which its most recent reconstitution was completed.
About Nuveen Small Cap Growth Opp A (FRMPX)
There are 2 members of the management team with an average tenure of 11.06 years: Jon Loth (2007), Gregory Ryan (2023). 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 2000 Growth TR USD index with a weighting of 100%. Nuveen Small Cap Growth Opp A has 91 securities in its portfolio. The top 10 holdings constitute 18.6% 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.
Nuveen Small Cap Growth Opp A is part of the Equity global asset class and is within the U.S. Equity fund group. Nuveen Small Cap Growth Opp A has 2.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 94.8%. There is 2.7% 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). Nuveen Small Cap Growth Opp A has 2.5% of the portfolio in cash.
Assets Under Management
The fund has $53 million in total assets, which is below the $431 million average for the Small 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.
FRMPX 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 Nuveen Small Cap Growth Opp A expense ratio is high compared to funds in the Small Growth category. Nuveen Small Cap Growth Opp A has an expense ratio of 1.20%, which is 2% 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. Nuveen Small Cap Growth Opp A has a portfolio turnover rate of 91%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 78% for the Small Growth category.
Recently, in the month of July 2026, Nuveen Small Cap Growth Opp A returned -7.9%, which earned it a grade of D, as the Small Growth category had an average return of -6.7%. 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.
Nuveen Small Cap Growth Opp A has a trailing yield of 0.00%, which is below the 0.06% 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.
Nuveen Small Cap Growth Opp A Grades
Year to date, the fund has returned 4.8%, 8.9 percentage points worse than the category, which translates into a grade of F. The fund has returned 12.6% over the past year (grade of F), 11.9% over the past three years (grade of C) and 3.3% per year over the past five years (grade of C) and 11.3% per year over the past 10 years (grade of C).
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FRMPX 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 |
|
| FRMPX Return (NAV) | -7.9% | 1.6% | 12.6% | 11.9% | 3.3% | 11.3% |
| FRMPX Grade | D | D | F | C | C | C |
| +/- Category | -1.2% | -2.0% | -10.1% | -0.5% | -0.0% | 0.1% |
| Small Growth Avg | -6.7% | 3.7% | 22.7% | 12.4% | 3.3% | 11.2% |
| FRMPX Tax Cost Ratio | na | na | 1.6% | 0.5% | 1.5% | 1.9% |
FRMPX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FRMPX Return (NAV) | 4.8% | 11.8% | 17.3% | 18.6% | -27.6% | 11.3% | 47.3% | 29.6% | -5.5% | 16.5% | 11.7% |
| FRMPX Grade | F | B | B | B | C | C | B | C | D | F | B |
| +/- Category | -8.9% | 3.8% | 1.7% | 1.9% | 0.3% | 0.8% | 5.5% | -0.3% | -1.3% | -7.6% | 1.4% |
| Small Growth Avg | 13.6% | 8.0% | 15.5% | 16.7% | -27.9% | 10.5% | 41.8% | 29.9% | -4.1% | 24.1% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 20.5% |
| Total Risk Index: | 1.67 - High |
| Category Risk Index: | 1.00 - Average |
| Category Risk Grade: | C (54% Rank) |
| Beta: | 1.36 |
| R-Squared: | 74% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $263 Mil |
| Fund Total Assets: | $ 54 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 91% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 18.8 years | |||
| Average Tenure: 11.1 years | |||
| Managers (Year): Loth Jon (2007), Ryan Gregory (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 91 |
| % in Top 10 Holdings: | 18.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.7% |
Portfolio Allocation |
|
| Domestic Stock: | 94.8% |
| Foreign Stock: | 2.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.5% |
Purchase Information
| Fund Family: | Nuveen |
| Phone Number: | 800-257-8787 |
| Website: | www.nuveen.com |
| Status: | Open |
| Inception Date: | August 1, 1995 |
| Min. Initial Purchase: | $3,000 |
| Min. Initial IRA Purchase: | $2,500 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.20% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.18% |
| Share Class: | Nuveen Small Cap Growth Opp I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
