Fund Evaluator:
Smead Value R1 (SVFDX)
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Fund Details
Smead Value R1 Overview
Smead Value R1 (SVFDX) is an actively managed U.S. Equity Large Value fund. Smead Funds launched the fund in 2014.
The investment seeks long-term capital appreciation. To achieve its investment objective, the fund will maintain approximately 25-30 companies in its portfolio and will invest in the common stocks of large capitalization ("large-cap") U.S. companies. The fund's manager considers large-cap companies to be those publicly traded U.S. companies with capitalizations exceeding $5 billion. It is non-diversified.
About Smead Value R1 (SVFDX)
There are 2 members of the management team with an average tenure of 15.26 years: William Smead (2008), Cole Smead (2014). 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%. Smead Value R1 has 60 securities in its portfolio. The top 10 holdings constitute 52.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Smead Value R1 is part of the Equity global asset class and is within the U.S. Equity fund group. Smead Value R1 has 6.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.3%. There is 6.0% 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). Smead Value R1 has 4.6% of the portfolio in cash.
Assets Under Management
The fund has $122 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.
SVFDX 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 Smead Value R1 expense ratio is high compared to funds in the Large Value category. Smead Value R1 has an expense ratio of 1.60%, which is 73% 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. Smead Value R1 has a portfolio turnover rate of 16%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of July 2026, Smead Value R1 returned 4.1%, which earned it a grade of B, as the Large Value category had an average return of 2.9%. 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.
Smead Value R1 has a trailing yield of 1.11%, which is below the 1.20% 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.
Smead Value R1 Grades
Year to date, the fund has returned 21.0%, 6.8 percentage points better than the category, which translates into a grade of A. The fund has returned 30.2% over the past year (grade of A), 12.3% over the past three years (grade of F) and 10.3% per year over the past five years (grade of D) and 12.8% per year over the past 10 years (grade of A).
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SVFDX 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 |
|
| SVFDX Return (NAV) | 4.1% | 6.1% | 30.2% | 12.3% | 10.3% | 12.8% |
| SVFDX Grade | B | C | A | F | D | A |
| +/- Category | 1.2% | -0.2% | 6.4% | -3.3% | -0.5% | 1.5% |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| SVFDX Tax Cost Ratio | na | na | 0.5% | 0.5% | 0.6% | 0.8% |
SVFDX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SVFDX Return (NAV) | 21.0% | 4.6% | 2.9% | 18.3% | -3.1% | 42.3% | 1.4% | 25.9% | -5.0% | 24.7% | 3.0% |
| SVFDX Grade | A | F | F | A | B | A | D | C | A | A | F |
| +/- Category | 6.8% | -10.5% | -11.2% | 6.4% | 3.0% | 16.5% | -2.4% | 0.2% | 3.5% | 8.3% | -11.5% |
| Large Value Avg | 14.3% | 15.2% | 14.1% | 11.8% | -6.0% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 15.6% |
| Total Risk Index: | 1.27 - Above Average |
| Category Risk Index: | 1.29 - High |
| Category Risk Grade: | F (101% Rank) |
| Beta: | 0.70 |
| R-Squared: | 35% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $4115 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 16% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 18.6 years | |||
| Average Tenure: 15.3 years | |||
| Managers (Year): Smead William (2008), Smead Cole (2014) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 60 |
| % in Top 10 Holdings: | 52.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 6.0% |
Portfolio Allocation |
|
| Domestic Stock: | 89.3% |
| Foreign Stock: | 6.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.6% |
Purchase Information
| Fund Family: | Smead Funds |
| Phone Number: | 877-807-4122 |
| Website: |
| Status: | Open |
| Inception Date: | November 21, 2014 |
| Min. Initial Purchase: | $25,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 1.60% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Smead Value Investor |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
