Fund Evaluator:
Polen 5Perspectives Small Growth Inv (PBSRX)
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Fund Details
Polen 5Perspectives Small Growth Inv Overview
Polen 5Perspectives Small Growth Inv (PBSRX) is an actively managed U.S. Equity Small Growth fund. Polen Capital launched the fund in 2019.
The investment seeks to achieve long-term growth of capital. The fund typically invests in a focused portfolio of common stocks of small companies and, under normal circumstances, it invests at least 80% of its net assets in securities of U.S. issuers that are small companies. The Adviser considers small companies for this purpose to be those companies that, at the time of purchase, are generally within the range of the market capitalizations of companies in the Russell 2000® Index and the S&P SmallCap 600® Index.
About Polen 5Perspectives Small Growth Inv (PBSRX)
There are 1 members of the management team with an average tenure of 1.00 years: Andrew (Drew) Cupps (2025). 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%. Polen 5Perspectives Small Growth Inv has 84 securities in its portfolio. The top 10 holdings constitute 29.4% 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.
Polen 5Perspectives Small Growth Inv is part of the Equity global asset class and is within the U.S. Equity fund group. Polen 5Perspectives Small Growth Inv has 4.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.5%. There is 4.4% 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). Polen 5Perspectives Small Growth Inv has 2.1% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $454 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.
PBSRX 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 Polen 5Perspectives Small Growth Inv expense ratio is high compared to funds in the Small Growth category. Polen 5Perspectives Small Growth Inv has an expense ratio of 1.35%, 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. Polen 5Perspectives Small Growth Inv has a portfolio turnover rate of 54%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 76% for the Small Growth category.
Recently, in the month of June 2026, Polen 5Perspectives Small Growth Inv returned 5.5%, which earned it a grade of D, as the Small Growth category had an average return of 6.5%. 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.
Polen 5Perspectives Small Growth Inv has a trailing yield of 0.00%, which is below the 0.07% 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.
Polen 5Perspectives Small Growth Inv Grades
Year to date, the fund has returned 36.2%, 14.1 percentage points better than the category, which translates into a grade of A. The fund has returned 60.1% over the past year (grade of A), 18.5% over the past three years (grade of B) and 2.3% per year over the past five years (grade of D).
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PBSRX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PBSRX Return (NAV) | 5.5% | 32.5% | 60.1% | 18.5% | 2.3% | na |
| PBSRX Grade | D | A | A | B | D | na |
| +/- Category | -1.0% | 7.8% | 26.4% | 2.2% | -2.4% | na |
| Small Growth Avg | 6.5% | 24.7% | 33.7% | 16.4% | 4.6% | 12.5% |
| PBSRX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.2% | na |
PBSRX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PBSRX Return (NAV) | 36.2% | 11.8% | 3.5% | 21.4% | -43.0% | 16.1% | 49.5% | 21.0% | 1.7% | na | na |
| PBSRX Grade | A | B | F | A | F | B | B | F | A | na | na |
| +/- Category | 14.1% | 3.7% | -12.0% | 4.7% | -15.1% | 5.6% | 7.7% | -8.9% | 5.8% | na | na |
| Small Growth Avg | 22.1% | 8.0% | 15.5% | 16.7% | -27.9% | 10.5% | 41.8% | 29.9% | -4.1% | 24.1% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 22.9% |
| Total Risk Index: | 1.88 - High |
| Category Risk Index: | 1.15 - High |
| Category Risk Grade: | F (91% Rank) |
| Beta: | 1.36 |
| R-Squared: | 59% |
| 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: | $70 Mil |
| Fund Total Assets: | $ 4 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 54% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 1.0 years | |||
| Average Tenure: 1.0 years | |||
| Managers (Year): Cupps Andrew (Drew) (2025) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 84 |
| % in Top 10 Holdings: | 29.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.4% |
Portfolio Allocation |
|
| Domestic Stock: | 93.5% |
| Foreign Stock: | 4.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.1% |
Purchase Information
| Fund Family: | Polen Capital |
| Phone Number: | 888-678-6024 |
| Website: | www.polencapital.com |
| Status: | Open |
| Inception Date: | February 7, 2019 |
| Min. Initial Purchase: | $3,000 |
| Min. Initial IRA Purchase: | $2,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.35% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.18% |
| Share Class: | Polen 5Perspectives Small Growth Instl |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
