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For Financial Professionals in the US

JAMVX VIT Mid Cap Value Portfolio

Defensive-minded specialists aiming to identify undervalued mid-cap opportunities

NAV
$17.86
As of 05/09/2025

1-Day Change
-$0.05 (-0.28%)
 As of 05/09/2025

YTD Return
-4.03%
As of 05/09/2025

Morningstar Medalist Rating ™

Silver Morningstar Analyst Rating
As of 03/31/2025

Overview

About This Portfolio

As defensive value specialists, we look to invest in high-quality companies with strong management teams, stable balance sheets, and durable competitive advantages that are trading at attractive valuations. We seek to achieve excess returns over full market cycles, with less risk than our benchmark and peers as measured by standard deviation, beta and down market capture.

Why Invest in This Portfolio

Attractive Reward/Risk

Our disciplined valuation process measures downside risk before upside potential and invests in securities with favorable reward/risk ratios.

High-Conviction Process

The portfolio typically holds between 60 to 90 stocks with business fundamentals considered more important than fluctuations in the wider economy.

Different Than the Benchmark

The benchmark is not used as a starting point for portfolio construction, which should lead to high active share.

Portfolio Management

Kevin Preloger: Portfolio Manager
Kevin Preloger

Portfolio Manager

Industry since 1997. Joined Firm in 2002.

Justin Tugman, CFA: Portfolio Manager
Justin Tugman, CFA

Portfolio Manager

Industry since 2000. Joined Firm in 2004.

Performance

RETURNS (%) (As of 03/31/2025)
VIT Mid Cap Value Portfolio Institutional Class Russell Midcap® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/31/2002)
VIT Mid Cap Value Portfolio Institutional Class -1.93 -1.93 0.85 5.50 14.32 7.37 9.57
Russell Midcap® Value Index -2.11 -2.11 2.27 3.78 16.71 7.61 10.38
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

RETURNS (%) (As of 04/30/2025)
VIT Mid Cap Value Portfolio Institutional Class Russell Midcap® Value Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(12/31/2002)
VIT Mid Cap Value Portfolio Institutional Class -8.58 -5.48 3.03 6.19 11.20 6.99 9.35
Russell Midcap® Value Index -7.78 -4.54 5.24 5.04 13.25 7.47 10.21
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Calendar Year Returns (%)
VIT Mid Cap Value Portfolio Institutional Class Russell Midcap® Value Index
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
VIT Mid Cap Value Portfolio Institutional Class 13.11 11.40 -5.56 19.73 -0.92 30.35 -13.63 13.94 19.03 -3.47
Russell Midcap® Value Index 13.07 12.71 -12.03 28.34 4.96 27.06 -12.29 13.34 20.00 -4.78
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Morningstar Percentile

 (As of 03/31/2025)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 50 34 85 57 52
Mid-Cap Value | Rank/Count 197/424 102/402 337/387 174/341 117/221
 (As of 04/30/2025)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 45 32 85 57 51
Mid-Cap Value | Rank / Count 158/414 102/391 322/376 175/332 111/214

Growth of a Hypothetical Investment

Mid Cap Value Portfolio - Institutional Shares Russell Midcap® Value Index Mid-Cap Value Russell 3000 TR Index
Source: Morningstar, Inc.

This graph compares the performance of a hypothetical $1 investment in the fund, the fund’s Morningstar category average and its benchmark(s). Fund performance is on a Net Asset Value (NAV) basis with net income reinvested where applicable.

Returns-Based Statistics (As of 04/30/2025 Class INSTITUTIONAL Shares)

RISK / REWARD
VS. Russell Mid Cap Value TR USD		 3YR 5YR
Information Ratio 0.27 -0.53
Alpha 0.80 -1.13
Tracking Error 3.20 3.85
Beta 0.92 0.89
R-squared (%) 97.73 95.76
UP/DOWN MARKET CAPTURE (%)
Russell Mid Cap Value TR USD		 3YR 5YR
Up Capture Ratio 94.22 85.91
Down Capture Ratio 93.57 93.92
STANDARD DEVIATION 3YR 5YR
Mid Cap Value Portfolio 18.48 16.60
Russell Mid Cap Value TR USD 19.78 18.20
SHARPE RATIO 3YR 5YR
Mid Cap Value Portfolio 0.07 0.48
Russell Mid Cap Value TR USD 0.02 0.56
Annual Fees & Expenses (As of the most recent prospectus)
INSTITUTIONAL SHARES
Management Fees 0.75%
Other Expenses 0.18%
Total Gross Expenses 0.93%
Waivers 0.00%
Total Net Expenses 0.93%

Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on April 30, 2025. This contractual waiver may be terminated or modified only at the discretion of the Portfolio's Board of Trustees.

Portfolio

Index represents the Russell Midcap® Value Index.

Top Holdings (As of 03/31/2025)
% of Fund
Alliant Energy Corp 2.93
Casey's General Stores Inc 2.79
Expand Energy Corp 2.57
Freeport-McMoRan Inc 2.24
Entergy Corp 2.23
Agree Realty Corp 2.23
Hartford Insurance Group Inc 2.15
Ally Financial Inc 2.02
Waste Connections Inc 1.92
ConocoPhillips 1.90
TOTAL 22.98
View full holdings
Portfolio Characteristics (As of 03/31/2025)
  PORTFOLIO INDEX
Number of Holdings
Equity Issues		 75 712
Market Capitalization
Weighted Average		 $23.83B $24.65B
Portfolio Turnover Rate
(1-year trailing)		 36.43% -
Price/Earnings Ratio
(1-year forward)		 15.50 15.26
Price/Book Ratio
 2.32 2.25
Earnings Growth Rate
(1-year forward)		 14.84% 11.41%
Sector Allocation % of Fund % of Index % of Fund % of Index As of 03/31/2025
Equity country, regional, sector and industry weights primarily based on MSCI and GICS classifications.
Regional Allocation % of Fund % of Index % of Fund % of Index As of 03/31/2025
Developed vs Emerging Markets % of Fund % of Index % of Fund % of Index As of 03/31/2025
Market Capitalization Range of Equity Holdings % of Fund % of Index % of Fund % of Index As of 03/31/2025

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Global Perspectives: Can momentum in small caps continue?
Sep 26, 2024
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Global Perspectives: Can momentum in small caps continue?

The factors driving momentum in small-cap equities and our view on what’s ahead.

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U.S. small caps: Is the tide turning?
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U.S. small caps: Is the tide turning?

Why we could be witnessing the early stages of a change in market leadership between U.S. small cap and large cap stocks.

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