Fund Evaluator:
Optimum Small-Mid Cap Growth A (OASGX)
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Fund Details
Optimum Small-Mid Cap Growth A Overview
Optimum Small-Mid Cap Growth A (OASGX) is an actively managed U.S. Equity Small Growth fund. Nomura launched the fund in 2003.
The investment seeks long-term growth of capital. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of small- and mid-market capitalization companies (80% policy). For purposes of this fund, small-market capitalization companies are those companies whose market capitalization is similar to the market capitalization of companies in the Russell 2000® Growth Index, and mid-market capitalization companies are those companies whose market capitalization is similar to the market capitalization of companies in the Russell Midcap® Growth Index.
About Optimum Small-Mid Cap Growth A (OASGX)
There are 6 members of the management team with an average tenure of 6.56 years: Ryan Smith (2021), Allison Lewis (2023), Samuel Smith (2021), Christopher Corbett (2017), Marc Shapiro (2020), Paul von Kuster (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 2500 Growth TR USD index with a weighting of 100%. Optimum Small-Mid Cap Growth A has 195 securities in its portfolio. The top 10 holdings constitute 14.1% 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.
Optimum Small-Mid Cap Growth A is part of the Equity global asset class and is within the U.S. Equity fund group. Optimum Small-Mid Cap Growth A has 3.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.2%. There is 3.5% 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). Optimum Small-Mid Cap Growth A has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $5 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.
OASGX 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 Optimum Small-Mid Cap Growth A expense ratio is high compared to funds in the Small Growth category. Optimum Small-Mid Cap Growth A has an expense ratio of 1.44%, which is 22% 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. Optimum Small-Mid Cap Growth A has a portfolio turnover rate of 152%, 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, Optimum Small-Mid Cap Growth A returned -7.5%, 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.
Optimum Small-Mid Cap Growth 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 semi-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.
Optimum Small-Mid Cap Growth A Grades
Year to date, the fund has returned 11.7%, 1.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 22.9% over the past year (grade of C), 10.8% over the past three years (grade of D) and 3.4% per year over the past five years (grade of C) and 12.1% per year over the past 10 years (grade of B).
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OASGX 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 |
|
| OASGX Return (NAV) | -7.5% | 5.9% | 22.9% | 10.8% | 3.4% | 12.1% |
| OASGX Grade | D | A | C | D | C | B |
| +/- Category | -0.8% | 2.2% | 0.2% | -1.5% | 0.1% | 0.9% |
| Small Growth Avg | -6.7% | 3.7% | 22.7% | 12.4% | 3.3% | 11.2% |
| OASGX Tax Cost Ratio | na | na | 0.7% | 0.2% | 2.4% | 2.5% |
OASGX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| OASGX Return (NAV) | 11.7% | 9.2% | 13.9% | 13.7% | -28.2% | 12.3% | 56.9% | 25.3% | -3.5% | 27.3% | 2.6% |
| OASGX Grade | D | C | C | D | C | C | A | D | B | B | F |
| +/- Category | -1.9% | 1.2% | -1.7% | -3.1% | -0.3% | 1.8% | 15.1% | -4.6% | 0.6% | 3.2% | -7.6% |
| 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: | 20.1% |
| Total Risk Index: | 1.64 - High |
| Category Risk Index: | 0.98 - Average |
| Category Risk Grade: | C (49% Rank) |
| Beta: | 1.34 |
| R-Squared: | 76% |
| 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: | Semi-Annually |
| Total Assets: | $868 Mil |
| Fund Total Assets: | $ 5 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 152% |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 10.3 years | |||
| Average Tenure: 6.6 years | |||
| Managers (Year): von Kuster Paul (2016), Corbett Christopher (2017), Shapiro Marc (2020), Smith Ryan (2021), Smith Samuel (2021), Lewis Allison (2023) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 195 |
| % in Top 10 Holdings: | 14.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.5% |
Portfolio Allocation |
|
| Domestic Stock: | 95.2% |
| Foreign Stock: | 3.5% |
| 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: | Nomura |
| Phone Number: | 800-914-0278 |
| Website: | www.optimummutualfunds.com |
| Status: | Open |
| Inception Date: | August 1, 2003 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| 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 (%): | 1.44% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.18% |
| Share Class: | Optimum Small-Mid Cap Growth Instl |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 25 |
