Fund Evaluator:
SA US Value (SABTX)
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Best Performing in Large Value Over the Last Year
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Fund Details
SA US Value Overview
SA US Value (SABTX) is an actively managed U.S. Equity Large Value fund. SA Funds launched the fund in 1999.
The investment seeks to achieve long-term capital appreciation. The fund is designed to purchase a broad and diverse group of readily marketable equity securities of large and mid cap U.S. companies listed on a securities exchange in the United States that is deemed appropriate by the Sub-Adviser, that the Sub-Adviser believes are “value” stocks at the time of investment. It will invest at least 80% of its net assets in U.S. securities. The fund may lend its portfolio securities to generate additional income.
About SA US Value (SABTX)
There are 3 members of the management team with an average tenure of 6.79 years: Jed Fogdall (2012), Allen Pu (2024), John Hertzer (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Morningstar US Market Ext TR USD index with a weighting of 100% and Morningstar US LM Brd Value TR USD index with a weighting of 100%. SA US Value has 261 securities in its portfolio. The top 10 holdings constitute 25.3% 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.
SA US Value is part of the Equity global asset class and is within the U.S. Equity fund group. SA US Value has 2.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.7%. There is 2.1% 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). SA US Value has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $633 million in total assets, which is below the $1 billion average for the Large 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.
SABTX 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 SA US Value expense ratio is above average compared to funds in the Large Value category. SA US Value has an expense ratio of 0.74%, which is 20% lower than its category average, making the fund expense ratio grade a B. 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. A portfolio turnover rate cannot be currently calculated for SA US Value. By way of comparison, the average portfolio turnover is 63% for the Large Value category.
Recently, in the month of August 2026, SA US Value returned 2.6%, which earned it a grade of A, as the Large Value category had an average return of 1.6%. 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.
SA US Value has a trailing yield of 1.19%, which is above the 1.17% 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.
SA US Value Grades
Year to date, the fund has returned 24.1%, 7.9 percentage points better than the category, which translates into a grade of A. The fund has returned 31.7% over the past year (grade of A), 20.0% over the past three years (grade of A) and 12.0% per year over the past five years (grade of B) and 11.6% per year over the past 10 years (grade of C).
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SABTX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SABTX Return (NAV) | 2.6% | 6.9% | 31.7% | 20.0% | 12.0% | 11.6% |
| SABTX Grade | A | B | A | A | B | C |
| +/- Category | 1.0% | 0.6% | 10.1% | 2.7% | 1.3% | 0.3% |
| Large Value Avg | 1.6% | 6.2% | 21.6% | 17.3% | 10.7% | 11.4% |
| SABTX Tax Cost Ratio | na | na | 1.1% | 0.9% | 1.2% | 1.4% |
SABTX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SABTX Return (NAV) | 24.1% | 17.7% | 11.4% | 11.8% | -6.4% | 27.0% | -2.0% | 24.8% | -12.0% | 18.4% | 18.2% |
| SABTX Grade | A | B | D | C | C | B | F | D | F | B | A |
| +/- Category | 7.9% | 2.6% | -2.8% | -0.0% | -0.3% | 1.3% | -5.9% | -0.8% | -3.5% | 1.9% | 3.7% |
| Large Value Avg | 16.1% | 15.1% | 14.1% | 11.8% | -6.1% | 25.7% | 3.9% | 25.6% | -8.5% | 16.5% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 12.8% |
| Total Risk Index: | 1.06 - Above Average |
| Category Risk Index: | 1.08 - High |
| Category Risk Grade: | F (87% Rank) |
| Beta: | 0.74 |
| R-Squared: | 55% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $633 Mil |
| Fund Total Assets: | $ 633 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 13.9 years | |||
| Average Tenure: 6.8 years | |||
| Managers (Year): Fogdall Jed (2012), Hertzer John (2021), Pu Allen (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 261 |
| % in Top 10 Holdings: | 25.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.1% |
Portfolio Allocation |
|
| Domestic Stock: | 97.7% |
| Foreign Stock: | 2.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Fund Family: | SA Funds |
| Phone Number: | 844-366-0905 |
| Website: | www.sa-funds.net. |
| Status: | Open |
| Inception Date: | August 5, 1999 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.74% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | SA US Value |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
