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SMID Cap Value Commentaries


4th Quarter 2023

The preliminary fourth-quarter return of Cardinal’s SMID Cap Value Composite, at 10.9% net of fees, lagged the Russell 2500 Value Index® return of 13.8%.

The preliminary full-year return for Cardinal’s SMID Cap Value Composite, at 3.2% net of fees, lagged the Russell 2500 Value Index return of 16.0%.

3rd Quarter 2023

The third quarter return of Cardinal’s SMID Cap Value Composite, at ‐6.1% net of fees, trailed the Russell 2500® Value Index return of ‐3.7%.

2nd Quarter 2023

The second quarter return of Cardinal’s SMID Cap Value Composite, at 0.5% net of fees, trailed the Russell 2500 Value Index return of 4.4%.

1st Quarter 2023

The first quarter return of Cardinal’s SMID Cap Value Composite, at -1.4% net of fees, trailed the Russell 2500 Value Index return of 1.4%.