Fund Evaluator:

Keeley Gabelli Mid Cap Dividend I Overview

Keeley Gabelli Mid Cap Dividend I (KMDIX) is an actively managed U.S. Equity Mid-Cap Value fund. Gabelli launched the fund in 2011.

The investment seeks capital appreciation. The Adviser intends to pursue its investment objective by investing in equity securities of companies with a mid-size market capitalization and that currently pay, or are reasonably expected to pay, dividends to shareholders. The fund will invest no less than 80% of its net assets in "dividend-paying" common stocks and other equity type securities (including preferred stock, convertible debt securities and warrants) of "mid cap" companies, which the Adviser currently defines as securities within the range of the Russell Midcap® Value Index at the time of investment.

About Keeley Gabelli Mid Cap Dividend I (KMDIX)

There are 2 members of the management team with an average tenure of 14.92 years: Thomas Browne (2011), Brian Leonard (2011). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: Russell Mid Cap Value TR USD index with a weighting of 100%. Keeley Gabelli Mid Cap Dividend I has 80 securities in its portfolio. The top 10 holdings constitute 19.9% 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.

Keeley Gabelli Mid Cap Dividend I is part of the Equity global asset class and is within the U.S. Equity fund group. Keeley Gabelli Mid Cap Dividend I has 8.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.9%. There is 8.2% 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). Keeley Gabelli Mid Cap Dividend I has 1.9% of the portfolio in cash.

Assets Under Management

The fund has $110 million in total assets, which is below the $650 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.

KMDIX 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 Keeley Gabelli Mid Cap Dividend I expense ratio is high compared to funds in the Mid-Cap Value category. Keeley Gabelli Mid Cap Dividend I has an expense ratio of 0.95%, which is 8% lower than its category average, making the fund expense ratio grade a C. 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. Keeley Gabelli Mid Cap Dividend I has a portfolio turnover rate of 14%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Value category.

Recently, in the month of August 2026, Keeley Gabelli Mid Cap Dividend I returned -0.0%, which earned it a grade of F, as the Mid-Cap Value category had an average return of 1.1%. 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.

Keeley Gabelli Mid Cap Dividend I has a trailing yield of 1.12%, which is above the 0.85% category average. The fund normally distributes its income quarterly 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.

Keeley Gabelli Mid Cap Dividend I Grades

Year to date, the fund has returned 15.4%, 1.5 percentage points worse than the category, which translates into a grade of D. The fund has returned 15.0% over the past year (grade of D), 15.7% over the past three years (grade of B) and 10.3% per year over the past five years (grade of B) and 10.1% per year over the past 10 years (grade of C).

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