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Dividend Focused Value Equity

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About Dividend Focused Value Equity
A traditional value process emphasizing the power of long-term dividend paying stocks to enhance risk-adjusted returns.

The strategy invests primarily in large capitalization stocks that have a history of paying dividends consecutively for 25 years or longer. Our history indicates that a strategy of emphasizing low price/book ratios and high dividend yields provides a measure of protection in down markets, as well as participation in improving economic cycles.

Investment Process

Investment Objective:

Seeks to outperform the Russell 1000® Value Index over a full market cycle.

Investment Overview:

We seek to invest in stocks of good companies with a unique combination of cheapness, change and asymmetric return profiles. We strive to construct portfolios that trade at levels below the market across multiple metrics including (P/E, P/B, EV/EBITDA) while simultaneously delivering an above-market dividend yield. The strategy invests primarily in large capitalization stocks that have a history of paying dividends consecutively for 25 years or longer with below-market valuations based on actual trailing earnings, characterized by low expectations due to past earnings disappointments or other temporary issues. We expect the companies in which we invest to produce above market earnings growth, profitability, and return on capital.

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Strategy Summary

as of 9/30/2024
date format is m/dd/yyyy
Asset Class
US Equity
Investment Style
Value
Portfolio Benchmark
Russell 1000® Value Index
Collective Investment Trust
Open
Separate Account
Open

Additional Information

No items found.
No items found.
Active Value
2023 Dividend Focused Value Equity Composite GIPS® Disclosures

Media Spotlight

Mark Giambrone Discusses Midterm Elections and Markets on Fox Business
November 7, 2018
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Mark Giambrone Discusses Market Trends on CNBC
November 6, 2018
View on CNBC.com>

Characteristics

as of 9/30/2024
date format is m/dd/yyyy
BH DFV
Russell 1000® Value Index
S&P 500®
Index
Price / Earnings (NTM)
15.3
16.8
21.7
Price / Book Value
2.2
2.7
4.8
Weighted Average Market Cap ($M)
118,638.1
171,735.2
999,489.1
Median Market Cap ($M)
54,188.4
14,285.3
38,083.3
Dividend Yield (%)
2.9
2.0
1.3

Top 10 Holdings

as of 9/30/2024
Philip Morris International Inc.
4.0%
Air Products and Chemicals, Inc.
3.7%
Merck & Co., Inc.
3.5%
Enbridge Inc.
3.3%
Sanofi Sponsored ADR
3.3%
JPMorgan Chase & Co.
3.3%
Public Storage
3.2%
Entergy Corporation
3.2%
Medtronic Plc
3.2%
CVS Health Corporation
3.1%

Sector Weightings

as of 9/30/2024
Health Care
20.9%
Financials
16.8%
Consumer Staples
14.1%
Energy
10.5%
Real Estate
8.5%
Materials
8.1%
Utilities
7.8%
Industrials
6.6%
Communication Services
3.0%
Information Technology
2.0%
Cash
1.6%
Consumer Discretionary
0.0%

Performance

Annualized Returns as of 9/30/2024
date format is m/dd/yyyy
Qtr*
1 Year
3 Year
5 Year
10 Year
BH Dividend Focused Value Equity - Gross Returns
9.95%
27.54%
11.65%
10.97%
9.16%
BH Dividend Focused Value Equity - Net Returns
9.80%
26.85%
11.03%
10.35%
8.55%
Russell 1000® Value Index
9.43%
27.76%
9.03%
10.69%
9.23%
S&P 500® Index
12.15%
18.40%
14.18%
15.22%
13.88%

*Most recent quarter returns are not annualized. Past performance is not indicative of future results. The value of an investment can go down as well as up as a result of market and currency fluctuations.

Portfolio Characteristics

as of 3/31/2023
Portfolio
Russell 1000® Value Index
S&P 500®
Index
No items found.

Top 10 Holdings

as of 3/31/2023
No items found.

Sector Weightings

as of 3/31/2023
No items found.

Performance

Annualized Portfolio Returns as of 3/31/2023
Qtr*
1 Year
3 Year
5 Year
10 Year
No items found.
No items found.
No items found.

*Most recent quarter returns are not annualized. Past performance does not guarantee future results and there is no assurance that the Strategy will achieve its investment objective.

Disclosure

Sources for data noted above are from APX and FactSet as of the date specified. Material presented is based on the composite and not an individual account.

Barrow Hanley gross returns are shown before investment management fees and custody expenses. Index returns do not reflect transaction costs, management fees, and other expenses. Performance is expressed in U.S. currency. Net returns are calculated using a model fee. The model fee is based on the highest tier of our standard fee schedule. Barrow, Hanley, Mewhinney & Strauss, LLC claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

Frank Russell Company is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. The data presented may contain confidential information and unauthorized use, disclosure, copying, dissemination or redistribution is strictly prohibited. This is prepared by Barrow Hanley. Russell Investment Group is not responsible for the formatting or configuration of this material or for any inaccuracy in Barrow Hanley's presentation thereof.

Standard and Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC, and these trademarks have been licensed for use by S&P and Dow Jones Indices LLC and S&P Dow Jones Indices LLC. The data presented may contain confidential information and unauthorized use, disclosure, copying, dissemination or redistribution is strictly prohibited. This is prepared by Barrow Hanley. S&P Dow Jones Indices LLC is not responsible for the formatting or configuration of this material or for any inaccuracy in Barrow Hanley's presentation thereof.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s, a division of The McGraw Hill Companies, Inc. (“S&P”) and is licensed for use by Barrow, Hanley, Mewhinney & Strauss, LLC. Neither MSCI, S&P, nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification.  Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

All institutional product information has been provided by Barrow, Hanley, Mewhinney & Strauss, LLC. Any questions about this material or requests for additional information may be made directly to the firm by contacting us here.

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