Applied Finance Explorer Fund Institutional Shares (AFDZX)

Fund Assets	976.32M
Expense Ratio	0.827%
Min. Investment	$10,000
Turnover	38.70%
Dividend (ttm)	0.17
Dividend Yield	0.63%
Dividend Growth	-31.40%
Payout Frequency	Annual
Ex-Dividend Date	Dec 22, 2025

Previous Close	26.17
YTD Return	12.71%
1-Year Return	15.84%
5-Year Return	54.87%
52-Week Low	22.42
52-Week High	28.21
Beta (5Y)	1.39
Holdings	138
Inception Date	Jun 11, 2015

About AFDZX

Applied Finance Explorer Fund Institutional Shares is a mutual fund that primarily focuses on achieving long-term capital appreciation by investing in the equity securities of small and mid-sized companies. The fund’s strategy emphasizes identifying undervalued businesses within the small value segment, seeking to capitalize on growth and intrinsic value opportunities. Its portfolio spans various industries, with significant allocations to financial services, industrials, consumer defensive, and technology sectors. The fund maintains a diversified approach, holding a broad mix of companies and typically limiting exposure to the top holdings to reduce concentration risk. Managed with institutional investors in mind, this share class offers a relatively low expense ratio and a moderate turnover rate, providing a cost-efficient vehicle for accessing the small and mid-cap value universe. The Applied Finance Explorer Fund Institutional Shares plays an important role in the market by supporting the capital needs of emerging and growing enterprises, while offering investors exposure to segments often associated with higher growth potential and volatility.

• Fund Family: Applied Finance
• Category: Small Value
• Performance Rating: High
• Risk Rating: Average
• Stock Exchange: Nasdaq
• Ticker Symbol: AFDZX
• Share Class: Institutional Class
• Index: Index is not available on Lipper Database

Performance

AFDZX had a total return of 15.84% in the past year, including dividends. Since the fund's inception, the average annual return has been 10.96%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
AFDVX	Investor Class	1.08%

Top 10 Holdings

14.45% of assets

Name	Symbol	Weight
Sterling Infrastructure, Inc.	STRL	2.02%
Comfort Systems USA, Inc.	FIX	1.99%
Enova International, Inc.	ENVA	1.68%
Par Pacific Holdings, Inc.	PARR	1.62%
International Seaways, Inc.	INSW	1.30%
PBF Energy Inc.	PBF	1.26%
Penguin Solutions, Inc.	PENG	1.25%
Victory Capital Holdings, Inc.	VCTR	1.12%
Sezzle Inc.	SEZL	1.11%
Perimeter Solutions, Inc.	PRM	1.10%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 22, 2025	$0.7235	Dec 22, 2025
Dec 23, 2024	$0.542	Dec 23, 2024
Dec 18, 2023	$0.1874	Dec 18, 2023
Dec 19, 2022	$0.3232	Dec 19, 2022
Dec 20, 2021	$0.1652	Dec 20, 2021
Dec 18, 2020	$0.0608	Dec 18, 2020

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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