Fund Evaluator:
Poplar Forest Partners A (PFPFX)
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Best Performing in Mid-Cap Value Over the Last Year
| 41.4% | Fidelity Value Strategies (FSLSX) |
| 39.3% | Fidelity Advisor Mid Cap Value Z (FIDFX) |
| 39.2% | Fidelity Mid Cap Value (FSMVX) |
| 38.8% | Harbor Mid Cap Value Instl (HAMVX) |
| 38.3% | Harbor Mid Cap Value Investor (HIMVX) |
Fund Details
Poplar Forest Partners A Overview
Poplar Forest Partners A (PFPFX) is an actively managed U.S. Equity Mid-Cap Value fund. Poplar Forest Capital launched the fund in 2009.
The investment seeks long-term growth of capital. The fund seeks to deliver superior, risk-adjusted returns over full market cycles, by investing primarily in the common stocks of underappreciated companies and industries. It generally focuses on 25 to 35 companies with (i) an investment grade debt rating, (ii) a history of paying common stock dividends, and (iii) a market capitalization among the top 1,000 companies in the United States.
About Poplar Forest Partners A (PFPFX)
There are 2 members of the management team with an average tenure of 10.47 years: J. Dale Harvey (2009), Derek Derman (2022). 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 1000 Value TR USD index with a weighting of 100%. Poplar Forest Partners A has 30 securities in its portfolio. The top 10 holdings constitute 45.0% 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.
Poplar Forest Partners A is part of the Equity global asset class and is within the U.S. Equity fund group. Poplar Forest Partners A has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.5%. There is 0.0% 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). Poplar Forest Partners A has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $51 million in total assets, which is below the $642 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.
PFPFX 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 Poplar Forest Partners A expense ratio is high compared to funds in the Mid-Cap Value category. Poplar Forest Partners A has an expense ratio of 1.21%, which is 17% 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. Poplar Forest Partners A has a portfolio turnover rate of 26%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Mid-Cap Value category.
Recently, in the month of July 2026, Poplar Forest Partners A returned 0.9%, which earned it a grade of D, as the Mid-Cap Value category had an average return of 1.7%. 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.
Poplar Forest Partners A has a trailing yield of 1.17%, which is above the 0.87% 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.
Poplar Forest Partners A Grades
Year to date, the fund has returned 21.6%, 6.1 percentage points better than the category, which translates into a grade of A. The fund has returned 35.9% over the past year (grade of A), 17.9% over the past three years (grade of A) and 12.2% per year over the past five years (grade of A) and 10.4% per year over the past 10 years (grade of C).
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PFPFX 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 |
|
| PFPFX Return (NAV) | 0.9% | 11.7% | 35.9% | 17.9% | 12.2% | 10.4% |
| PFPFX Grade | D | A | A | A | A | C |
| +/- Category | -0.8% | 5.7% | 12.8% | 4.5% | 2.8% | 0.3% |
| Mid-Cap Value Avg | 1.7% | 6.0% | 23.1% | 13.4% | 9.4% | 10.1% |
| PFPFX Tax Cost Ratio | na | na | 2.3% | 2.1% | 2.4% | 1.8% |
PFPFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PFPFX Return (NAV) | 21.6% | 22.7% | 6.0% | 4.7% | 0.6% | 38.9% | -1.5% | 21.3% | -18.8% | 6.5% | 25.9% |
| PFPFX Grade | A | A | F | F | A | A | F | F | F | F | A |
| +/- Category | 6.1% | 12.8% | -5.7% | -9.1% | 8.7% | 11.4% | -5.3% | -5.0% | -5.4% | -7.6% | 8.6% |
| Mid-Cap Value Avg | 15.5% | 9.9% | 11.8% | 13.9% | -8.2% | 27.5% | 3.8% | 26.3% | -13.4% | 14.1% | 17.4% |
| Risk Measures | |
| Standard Deviation: | 12.9% |
| Total Risk Index: | 1.05 - Above Average |
| Category Risk Index: | 0.88 - Low |
| Category Risk Grade: | A (13% Rank) |
| Beta: | 0.73 |
| R-Squared: | 54% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $387 Mil |
| Fund Total Assets: | $ 52 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 26% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 16.6 years | |||
| Average Tenure: 10.5 years | |||
| Managers (Year): Harvey J. Dale (2009), Derman Derek (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 30 |
| % in Top 10 Holdings: | 45.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 98.5% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
Purchase Information
| Fund Family: | Poplar Forest Capital |
| Phone Number: | 877-522-8860 |
| Website: | www.poplarforestfunds.com |
| Status: | Open |
| Inception Date: | December 31, 2009 |
| Min. Initial Purchase: | $25,000 |
| Min. Initial IRA Purchase: | $5,000 |
| True No-Load: | No |
| 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 (%): | 1.21% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | Poplar Forest Partners Institutional |
| Min. Subsequent Purchase: | $1,000 |
| Min. Subsequent IRA Purchase: | $1,000 |
