Fund Evaluator:
Westwood Quality Value Ultra (WHGQX)
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Fund Details
Westwood Quality Value Ultra Overview
Westwood Quality Value Ultra (WHGQX) is an actively managed U.S. Equity Large Value fund. Westwood launched the fund in 2022.
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 common stocks and other equity securities of large capitalization companies. It generally invests in equity securities of domestic companies, but may also invest in equity securities of foreign companies and American Depositary Receipts ("ADRs"). The fund invests in approximately 40-60 securities that are well diversified among market sectors.
About Westwood Quality Value Ultra (WHGQX)
There are 3 members of the management team with an average tenure of 6.36 years: Corey Henegar (2025), Matthew Lockridge (2012), Michael Wall (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. Westwood Quality Value Ultra has 50 securities in its portfolio. The top 10 holdings constitute 31.4% 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.
Westwood Quality Value Ultra is part of the Equity global asset class and is within the U.S. Equity fund group. Westwood Quality Value Ultra has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.8%. 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). Westwood Quality Value Ultra has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $37 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.
WHGQX 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 Westwood Quality Value Ultra expense ratio is average compared to funds in the Large Value category. Westwood Quality Value Ultra has an expense ratio of 0.55%, which is 41% 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. Westwood Quality Value Ultra has a portfolio turnover rate of 77%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of July 2026, Westwood Quality Value Ultra returned 2.8%, which earned it a grade of C, 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.
Westwood Quality Value Ultra has a trailing yield of 1.10%, 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.
Westwood Quality Value Ultra Grades
Year to date, the fund has returned 9.4%, 4.8 percentage points worse than the category, which translates into a grade of F. The fund has returned 11.6% over the past year (grade of F), 9.3% over the past three years (grade of F) and 7.2% per year over the past five years (grade of F) and 9.6% per year over the past 10 years (grade of F).
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WHGQX 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 |
|
| WHGQX Return (NAV) | 2.8% | 3.3% | 11.6% | 9.3% | 7.2% | 9.6% |
| WHGQX Grade | C | F | F | F | F | F |
| +/- Category | -0.1% | -2.9% | -12.2% | -6.3% | -3.6% | -1.7% |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| WHGQX Tax Cost Ratio | na | na | 4.6% | 2.6% | na | na |
WHGQX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WHGQX Return (NAV) | 9.4% | 5.8% | 10.4% | 8.9% | -5.7% | 23.8% | 2.7% | 27.4% | -6.0% | 20.8% | 10.9% |
| WHGQX Grade | F | F | F | D | C | D | C | B | B | A | F |
| +/- Category | -4.8% | -9.4% | -3.7% | -2.9% | 0.3% | -2.0% | -1.1% | 1.7% | 2.4% | 4.4% | -3.6% |
| 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: | 10.8% |
| Total Risk Index: | 0.88 - Average |
| Category Risk Index: | 0.90 - Low |
| Category Risk Grade: | A (14% Rank) |
| Beta: | 0.67 |
| R-Squared: | 66% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $76 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 77% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 13.6 years | |||
| Average Tenure: 6.4 years | |||
| Managers (Year): Lockridge Matthew (2012), Wall Michael (2022), Henegar Corey (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 50 |
| % in Top 10 Holdings: | 31.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 99.8% |
| Foreign Stock: | 0.0% |
| 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: | Westwood |
| Phone Number: | 877-386-3944 |
| Website: |
| Status: | Open |
| Inception Date: | November 30, 2022 |
| Min. Initial Purchase: | $1,000,000 |
| 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 (%): | 0.55% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Westwood Quality Value Fund Inst |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
