Fund Evaluator:
Mairs & Power Small Cap (MSCFX)
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Best Performing in Small Blend Over the Last Year
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Fund Details
Mairs & Power Small Cap Overview
Mairs & Power Small Cap (MSCFX) is an actively managed U.S. Equity Small Blend fund. Mairs & Power launched the fund in 2011.
The investment seeks above-average, long-term appreciation. The fund invests primarily in U.S. common stock and other securities convertible into common stock as well as fixed income securities such as corporate bonds and U.S. government securities. It may also invest in securities of foreign issuers which are listed on a U.S. stock exchange or are represented by American Depositary Receipts (“ADRs”).
About Mairs & Power Small Cap (MSCFX)
There are 3 members of the management team with an average tenure of 8.38 years: Michael Marzolf (2022), Andrew Adams (2011), Christopher Strom (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 2000 TR USD index with a weighting of 100%. Mairs & Power Small Cap has 43 securities in its portfolio. The top 10 holdings constitute 38.8% 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.
Mairs & Power Small Cap is part of the Equity global asset class and is within the U.S. Equity fund group. Mairs & Power Small Cap has 7.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.3%. There is 7.3% 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). Mairs & Power Small Cap has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $259 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.
MSCFX 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 Mairs & Power Small Cap expense ratio is high compared to funds in the Small Blend category. Mairs & Power Small Cap has an expense ratio of 0.97%, which is 7% 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. Mairs & Power Small Cap has a portfolio turnover rate of 19%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 66% for the Small Blend category.
Recently, in the month of July 2026, Mairs & Power Small Cap returned -3.2%, which earned it a grade of D, 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.
Mairs & Power Small Cap has a trailing yield of 0.00%, which is below the 0.42% 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.
Mairs & Power Small Cap Grades
Year to date, the fund has returned 21.2%, 3.1 percentage points better than the category, which translates into a grade of B. The fund has returned 30.6% over the past year (grade of C), 10.6% over the past three years (grade of F) and 6.6% per year over the past five years (grade of D) and 9.0% per year over the past 10 years (grade of F).
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MSCFX 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 |
|
| MSCFX Return (NAV) | -3.2% | 7.7% | 30.6% | 10.6% | 6.6% | 9.0% |
| MSCFX Grade | D | A | C | F | D | F |
| +/- Category | -0.4% | 2.5% | 2.3% | -2.9% | -1.0% | -1.3% |
| Small Blend Avg | -2.8% | 5.2% | 28.3% | 13.5% | 7.6% | 10.3% |
| MSCFX Tax Cost Ratio | na | na | 0.5% | 0.4% | 0.9% | 0.9% |
MSCFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MSCFX Return (NAV) | 21.2% | 4.0% | 7.2% | 11.0% | -13.9% | 26.0% | 8.8% | 21.1% | -6.9% | 7.6% | 27.3% |
| MSCFX Grade | B | D | F | F | B | B | D | F | A | F | A |
| +/- Category | 3.1% | -3.9% | -4.3% | -5.4% | 2.6% | 2.8% | -5.6% | -4.4% | 4.9% | -6.4% | 7.1% |
| 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: | 19.3% |
| Total Risk Index: | 1.57 - High |
| Category Risk Index: | 1.04 - Above Average |
| Category Risk Grade: | D (71% Rank) |
| Beta: | 1.11 |
| R-Squared: | 56% |
| 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: | $259 Mil |
| Fund Total Assets: | $ 260 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 19% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 15.0 years | |||
| Average Tenure: 8.4 years | |||
| Managers (Year): Adams Andrew (2011), Strom Christopher (2021), Marzolf Michael (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 43 |
| % in Top 10 Holdings: | 38.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 7.3% |
Portfolio Allocation |
|
| Domestic Stock: | 92.3% |
| Foreign Stock: | 7.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.4% |
Purchase Information
| Fund Family: | Mairs & Power |
| Phone Number: | 800-304-7404 |
| Website: |
| Status: | Open |
| Inception Date: | August 11, 2011 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 1.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.97% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | Mairs & Power Small Cap |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
