Fund Evaluator:
Easterly Snow Small Cap Value C (SNWCX)
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Fund Details
Easterly Snow Small Cap Value C Overview
Easterly Snow Small Cap Value C (SNWCX) is an actively managed U.S. Equity Small Value fund. Easterly Funds launched the fund in 2010.
The investment seeks long-term capital appreciation. The fund invests at least 80% of its net assets, at cost, in equity securities of companies with market capitalizations in the range of the Russell 2000 Value® Index ("small-cap companies"). Its investments in equity securities may include common and preferred stocks, convertible securities, and shares of other investment companies and exchange-traded funds ("ETFs") that invest in equity securities of small-cap companies. In addition to equity securities, the fund may also invest up to 15% of its net assets in U.S. government or U.S. agency obligations.
About Easterly Snow Small Cap Value C (SNWCX)
There are 2 members of the management team with an average tenure of 10.63 years: Philip Greenblatt (2020), Joshua Schachter (2010). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US 3000 TR USD index with a weighting of 100% and Bloomberg US 2000 Value TR USD index with a weighting of 100%. Easterly Snow Small Cap Value C has 44 securities in its portfolio. The top 10 holdings constitute 39.4% 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.
Easterly Snow Small Cap Value C is part of the Equity global asset class and is within the U.S. Equity fund group. Easterly Snow Small Cap Value C has 10.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 87.5%. There is 10.4% 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). Easterly Snow Small Cap Value C has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $3 million in total assets, which is below the $417 million average for the Small 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.
SNWCX 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 Easterly Snow Small Cap Value C expense ratio is high compared to funds in the Small Value category. Easterly Snow Small Cap Value C has an expense ratio of 1.95%, which is 67% higher than its category average, making the fund expense ratio grade a F. 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. Easterly Snow Small Cap Value C has a portfolio turnover rate of 20%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 128% for the Small Value category.
Recently, in the month of July 2026, Easterly Snow Small Cap Value C returned 1.4%, which earned it a grade of A, as the Small Value category had an average return of -0.4%. 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.
Easterly Snow Small Cap Value C has a trailing yield of 1.39%, which is above the 0.77% 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.
Easterly Snow Small Cap Value C Grades
Year to date, the fund has returned 15.6%, 4.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 38.2% over the past year (grade of B), 17.5% over the past three years (grade of A) and 12.6% per year over the past five years (grade of A) and 11.4% per year over the past 10 years (grade of A).
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SNWCX 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 |
|
| SNWCX Return (NAV) | 1.4% | 6.1% | 38.2% | 17.5% | 12.6% | 11.4% |
| SNWCX Grade | A | C | B | A | A | A |
| +/- Category | 1.8% | -0.3% | 7.5% | 4.1% | 3.5% | 1.4% |
| Small Value Avg | -0.4% | 6.4% | 30.6% | 13.4% | 9.1% | 9.9% |
| SNWCX Tax Cost Ratio | na | na | 1.1% | 0.4% | 0.2% | 0.1% |
SNWCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SNWCX Return (NAV) | 15.6% | 24.1% | 11.0% | 21.3% | -9.0% | 25.1% | 20.9% | 17.2% | -20.4% | 5.5% | 19.8% |
| SNWCX Grade | F | A | B | A | B | F | A | F | F | F | F |
| +/- Category | -4.5% | 17.5% | 1.3% | 5.5% | 1.2% | -5.2% | 16.8% | -5.7% | -5.7% | -4.7% | -4.9% |
| Small Value Avg | 20.1% | 6.6% | 9.7% | 15.8% | -10.3% | 30.3% | 4.1% | 23.0% | -14.7% | 10.2% | 24.7% |
| Risk Measures | |
| Standard Deviation: | 18.9% |
| Total Risk Index: | 1.54 - High |
| Category Risk Index: | 1.04 - Above Average |
| Category Risk Grade: | D (74% Rank) |
| Beta: | 1.10 |
| R-Squared: | 57% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $95 Mil |
| Fund Total Assets: | $ 3 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 20% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 15.7 years | |||
| Average Tenure: 10.6 years | |||
| Managers (Year): Schachter Joshua (2010), Greenblatt Philip (2020) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 44 |
| % in Top 10 Holdings: | 39.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 10.4% |
Portfolio Allocation |
|
| Domestic Stock: | 87.5% |
| Foreign Stock: | 10.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.2% |
Purchase Information
| Fund Family: | Easterly Funds |
| Phone Number: | 833-999-2636 |
| Website: |
| Status: | Open |
| Inception Date: | November 30, 2010 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.95% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.17% |
| Share Class: | Easterly Snow Small Cap Value I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
