Fund Evaluator:
Weitz Multi Cap Equity-Institutional Cl (WPVIX)
Follow This Fund
Best Performing in Large Blend Over the Last Year
| 49.8% | PRIMECAP Odyssey Growth (POGRX) |
| 48.6% | Vanguard PRIMECAP Core Inv (VPCCX) |
| 45.8% | Vanguard PRIMECAP Adm (VPMAX) |
| 45.7% | Vanguard PRIMECAP Inv (VPMCX) |
| 42.3% | Midas Special Opportunities (MISEX) |
Fund Details
Weitz Multi Cap Equity-Institutional Cl Overview
Weitz Multi Cap Equity-Institutional Cl (WPVIX) is an actively managed U.S. Equity Large Blend fund. Weitz launched the fund in 2014.
The investment seeks capital appreciation. The fund’s investment strategy is to buy above-average to highest-quality businesses, at prices that the advisor believes are less than what the companies are worth. The fund is a "multi-cap" fund and may invest in securities of any market capitalization. Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of companies with market capitalizations that would be included in the Bloomberg 3000 Index.
About Weitz Multi Cap Equity-Institutional Cl (WPVIX)
There are 2 members of the management team with an average tenure of 24.60 years: Andrew Weitz (2020), Wallace Weitz (1983). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg 3000 TR USD index with a weighting of 100%. Weitz Multi Cap Equity-Institutional Cl has 34 securities in its portfolio. The top 10 holdings constitute 54.6% 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.
Weitz Multi Cap Equity-Institutional Cl is part of the Equity global asset class and is within the U.S. Equity fund group. Weitz Multi Cap Equity-Institutional Cl has 1.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.1%. There is 1.6% 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). Weitz Multi Cap Equity-Institutional Cl has 3.3% of the portfolio in cash.
Assets Under Management
The fund has $318 million in total assets, which is below the $6 billion average for the Large 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.
WPVIX 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 Weitz Multi Cap Equity-Institutional Cl expense ratio is high compared to funds in the Large Blend category. Weitz Multi Cap Equity-Institutional Cl has an expense ratio of 0.87%, which is 7% higher than its category average, making the fund expense ratio grade a C. 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. Weitz Multi Cap Equity-Institutional Cl has a portfolio turnover rate of 11%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.
Recently, in the month of July 2026, Weitz Multi Cap Equity-Institutional Cl returned 2.2%, which earned it a grade of A, as the Large Blend 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.
Weitz Multi Cap Equity-Institutional Cl has a trailing yield of 0.21%, which is below the 0.56% 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.
Weitz Multi Cap Equity-Institutional Cl Grades
Year to date, the fund has returned 1.2%, 8.1 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.3% over the past year (grade of F), 8.0% over the past three years (grade of F) and 3.2% per year over the past five years (grade of F) and 7.3% per year over the past 10 years (grade of F).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Weitz Multi Cap Equity-Institutional Cl, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
WPVIX 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 |
|
| WPVIX Return (NAV) | 2.2% | 5.0% | 3.3% | 8.0% | 3.2% | 7.3% |
| WPVIX Grade | A | B | F | F | F | F |
| +/- Category | 1.8% | 1.0% | -14.1% | -9.4% | -8.0% | -6.4% |
| Large Blend Avg | 0.4% | 4.1% | 17.5% | 17.3% | 11.1% | 13.7% |
| WPVIX Tax Cost Ratio | na | na | 2.0% | 1.3% | 1.4% | 1.4% |
WPVIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| WPVIX Return (NAV) | 1.2% | 3.2% | 15.8% | 18.0% | -21.1% | 23.8% | 7.8% | 33.6% | -11.2% | 11.7% | 6.5% |
| WPVIX Grade | F | F | F | F | F | F | F | A | F | F | F |
| +/- Category | -8.1% | -12.6% | -6.3% | -5.7% | -3.8% | -2.7% | -9.7% | 3.8% | -5.4% | -9.6% | -3.7% |
| Large Blend Avg | 9.3% | 15.8% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 13.2% |
| Total Risk Index: | 1.08 - Above Average |
| Category Risk Index: | 1.00 - Average |
| Category Risk Grade: | C (54% Rank) |
| Beta: | 0.78 |
| R-Squared: | 59% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $506 Mil |
| Fund Total Assets: | $ 318 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 11% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 43.2 years | |||
| Average Tenure: 24.6 years | |||
| Managers (Year): Weitz Wallace (1983), Weitz Andrew (2020) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 34 |
| % in Top 10 Holdings: | 54.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.6% |
Portfolio Allocation |
|
| Domestic Stock: | 95.1% |
| Foreign Stock: | 1.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.3% |
Purchase Information
| Fund Family: | Weitz |
| Phone Number: | 888-859-0698 |
| Website: | www.weitzfunds.com |
| Status: | Open |
| Inception Date: | July 31, 2014 |
| 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 (%): | 0.87% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | Weitz Multi Cap Equity-Investor Cl |
| Min. Subsequent Purchase: | $ 25 |
| Min. Subsequent IRA Purchase: | $ 0 |
