Fund Evaluator:
CCT Thematic Equity Institutional (THMEX)
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Best Performing in Global Large-Stock Blend Over the Last Year
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Fund Details
CCT Thematic Equity Institutional Overview
CCT Thematic Equity Institutional (THMEX) is an actively managed International Equity Global Large-Stock Blend fund. Chevy Chase Trust Company launched the fund in 2020.
The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities. The Adviser uses a thematic investing approach to manage the fund's assets. Thematic investing involves capitalizing on what the Adviser believes to be powerful trends, disruptive ideas, innovations and economic forces that are secular (i.e., long-term and persisting regardless of macroeconomic cycles) and are reshaping the world ("Themes").
About CCT Thematic Equity Institutional (THMEX)
There are 2 members of the management team with an average tenure of 5.92 years: Amy Raskin (2020), Spencer Smith (2020). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI ACWI NR USD index with a weighting of 100%. CCT Thematic Equity Institutional has 50 securities in its portfolio. The top 10 holdings constitute 30.2% 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.
CCT Thematic Equity Institutional is part of the Equity global asset class and is within the International Equity fund group. CCT Thematic Equity Institutional has 37.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 58.6%. There is 37.1% 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). CCT Thematic Equity Institutional has 4.3% of the portfolio in cash.
Assets Under Management
The fund has $56 million in total assets, which is below the $1 billion average for the Global Large-Stock Blend 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.
THMEX 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 CCT Thematic Equity Institutional expense ratio is above average compared to funds in the Global Large-Stock Blend category. CCT Thematic Equity Institutional has an expense ratio of 0.65%, which is 38% lower than its category average, making the fund expense ratio grade a A. 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. CCT Thematic Equity Institutional has a portfolio turnover rate of 18%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 43% for the Global Large-Stock Blend category.
Recently, in the month of August 2026, CCT Thematic Equity Institutional returned 3.3%, which earned it a grade of A, as the Global Large-Stock Blend category had an average return of 1.9%. 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.
CCT Thematic Equity Institutional has a trailing yield of 0.56%, which is below the 0.93% category average. The fund normally distributes its income semi-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.
CCT Thematic Equity Institutional Grades
Year to date, the fund has returned 19.9%, 8.1 percentage points better than the category, which translates into a grade of A. The fund has returned 30.9% over the past year (grade of A), 21.9% over the past three years (grade of A) and 10.8% per year over the past five years (grade of B).
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THMEX 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 |
|
| THMEX Return (NAV) | 3.3% | 5.7% | 30.9% | 21.9% | 10.8% | na |
| THMEX Grade | A | A | A | A | B | na |
| +/- Category | 1.4% | 3.4% | 12.9% | 4.8% | 1.9% | na |
| Global Large-Stock Blend Avg | 1.9% | 2.3% | 18.0% | 17.1% | 8.9% | 10.8% |
| THMEX Tax Cost Ratio | na | na | 4.9% | 2.3% | 1.8% | na |
THMEX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| THMEX Return (NAV) | 19.9% | 27.1% | 12.0% | 17.2% | -17.4% | 21.1% | na | na | na | na | na |
| THMEX Grade | A | A | D | D | C | B | na | na | na | na | na |
| +/- Category | 8.1% | 7.0% | -1.2% | -1.5% | -1.2% | 3.6% | na | na | na | na | na |
| Global Large-Stock Blend Avg | 11.8% | 20.1% | 13.2% | 18.8% | -16.2% | 17.5% | 14.6% | 25.9% | -10.4% | 23.0% | 6.6% |
| Risk Measures | |
| Standard Deviation: | 11.9% |
| Total Risk Index: | 0.98 - Average |
| Category Risk Index: | 0.97 - Average |
| Category Risk Grade: | C (40% Rank) |
| Beta: | 0.91 |
| R-Squared: | 89% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.6% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | |
| Total Assets: | $56 Mil |
| Fund Total Assets: | $ 57 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 18% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 5.9 years | |||
| Average Tenure: 5.9 years | |||
| Managers (Year): Raskin Amy (2020), Smith Spencer (2020) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 50 |
| % in Top 10 Holdings: | 30.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 37.1% |
Portfolio Allocation |
|
| Domestic Stock: | 58.6% |
| Foreign Stock: | 37.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.3% |
Purchase Information
| Fund Family: | Chevy Chase Trust Company |
| Phone Number: | 888-288-0002 |
| Website: |
| Status: | Open |
| Inception Date: | September 30, 2020 |
| Min. Initial Purchase: | $5,000,000 |
| 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 (%): | 0.65% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | CCT Thematic Equity Institutional |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
