Domini Impact International Equity Fund

As of 12/31/17. The Fund's Class A share class (load-waived) received five stars for the last 3 and 5 years rated against 265 and 208 U.S. domiciled Foreign Large Value funds, respectively, and four stars for the past 10 years, rated against 136 U.S. domiciled Foreign Large Value funds. Past performance is no guarantee of future results. View more complete rating and risk information.​
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Domini Impact International Equity Fund sm

Fund Information

$9.52
Daily Price (NAV)
as of 02/22/2018
Symbol DOMAX
Daily NAV Change $0.01 (0.11%)

Key Documents

Overview

Class A Shares Overview

Class A shares are intended for investors who invest through a financial advisor. They carry a front-end sales charge (load) that is paid to the advisor buying the Fund on behalf of the investor. If you do not invest through a financial advisor, please refer to the Investor shares.

The Domini Impact International Equity Fund helps you access a world of investment opportunity, while using your investment dollars to encourage corporate responsibility. Investments in companies across Europe, the Asia-Pacific region, and throughout the rest of the world let you take advantage of broad international diversification with the convenience of one mutual fund.

Investment Objective

The Fund seeks to provide its shareholders with long-term total return.

Investment Strategy

The Fund invests primarily in stocks of companies in Europe, the Asia-Pacific region, and throughout the rest of the world that meet Domini Impact Investments’ social and environmental standards.

Subject to these standards, Wellington Management Company LLP, the Fund’s subadvisor, seeks to add value using a diversified quantitative stock selection approach, while managing risk through portfolio construction.  

Management

Investment Advisor and Sponsor: Domini Impact Investments LLC.

Subadvisor: Wellington Management Company LLP.

Shareholder Activism

The Fund seeks to use its position as a shareholder to raise issues of social and environmental performance with corporate management.

Social and Environmental Standards

Domini evaluates the Fund’s potential investments against its social and environmental standards based on the businesses in which they engage, as well as on the quality of their relations with key stakeholders, including communities, customers, ecosystems, employees, investors, and suppliers.

Domini may determine that a security is eligible for investment even if a corporation’s profile reflects a mixture of positive and negative social and environmental characteristics.

Investor Profile

Who Should Invest:

  • Investors seeking long-term growth of capital.
  • Investors committed to the Fund’s socially responsible investment standards.

Who Should Not Invest:

  • Investors unwilling or unable to accept moderate to significant fluctuations in share price.

Performance

Class A Shares Performance

Month-End Returns as of 1/31/18
YTD1 Yr3 Yr*5 Yr*10 Yr*Since Inception (12/27/2006)*
DOMAX (without load)6.06%26.76%10.52%9.97%4.13%3.04%
DOMAX (with max. load)1.03%20.74%8.74%8.91%3.62%2.59%
MSCI EAFE (gross)5.02%28.20%9.90%8.33%3.93%3.75%
MSCI EAFE (net)5.02%27.60%9.39%7.85%3.44%3.46%
Quarter-End Returns as of 12/31/17
YTD1 Yr3 Yr*5 Yr*10 Yr*Since Inception (12/27/2006)*
DOMAX (without load)24.46%24.46%9.30%9.73%2.56%2.52%
DOMAX (with max. load)18.55%18.55%7.54%8.66%2.06%2.06%
MSCI EAFE (gross)25.62%25.62%8.30%8.39%2.42%3.32%
MSCI EAFE (net)25.03%25.03%7.80%7.90%1.94%3.03%

Calendar Year Returns
DOMAX (without load)MSCI EAFE (gross)MSCI EAFE (net)
201724.46%25.62%25.03%
20163.12%1.51%1.01%
20151.74%-0.39%-0.82%
2014-3.34%-4.48%-4.90%
201326.04%23.29%22.79%
201222.42%17.90%17.32%
2011-13.50%-11.73%-12.13%
201011.32%8.21%7.74%
200928.99%32.45%31.79%
2008-46.65%-43.06%-43.39%
20072.22%11.62%11.18%

Quarterly Returns
DOMAX (without load)MSCI EAFE (gross)MSCI EAFE (net)
4th Qtr 20172.76%4.27%4.23%
3rd Qtr 20174.47%5.47%5.40%
2nd Qtr 20175.93%6.37%6.12%
1st Qtr 20179.44%7.39%7.25%
4th Qtr 2016-0.94%-0.68%
3rd Qtr 20166.47%6.50%
2nd Qtr 2016-3.49%-1.19%
1st Qtr 20161.31%-2.88%
4th Qtr 20152.27%4.75%
3rd Qtr 2015-7.70%-10.19%
2nd Qtr 20151.71%0.84%
1st Qtr 20155.95%5.00%
4th Qtr 2014-1.50%-3.53%
3rd Qtr 2014-4.77%-5.83%
2nd Qtr 20142.68%4.34%
1st Qtr 20140.35%0.77%
4th Qtr 20136.27%5.75%
3rd Qtr 201311.23%11.61%
2nd Qtr 2013-0.85%-0.73%
1st Qtr 20137.54%5.23%

*Average annual total returns

Annual Expense Ratio: Gross: 1.50% / Net: 1.50%. Per current prospectus. Domini has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses in order to limit Class A share expenses to 1.51% of its average daily net assets per annum until 11/30/18, absent an earlier modification by the Fund’s Board. See prospectus for details. The Fund’s performance would have been lower had these fees not been waived.

The Fund's Class A shares are subject to a front-end sales charge of up to 4.75%. The quarterly and calendar year performance tables above do not reflect the deduction of this sales charge. If the sales charge were reflected, the performance would have been lower.

A shares were not offered prior to 11/28/08. All performance information for time periods beginning prior to that date is the performance of the Investor shares. This performance has not been adjusted to reflect the lower expenses of the Class A shares, but does reflect an adjustment for the maximum applicable sales charges of 4.75%, except where noted above.

Holdings


Ten Largest Holdings as of 1/31/18
COMPANY% OF PORTFOLIO
Allianz SE-Reg2.4%
Vodafone Group plc2.4%
Nissan Motor Co. Ltd.2.4%
Sanofi2.4%
Kering2.1%
Swisscom AG-REG2.1%
Central Japan Railway Co.1.8%
DBS Group Holdings Ltd.1.7%
Sandvik AB1.6%
Aena SME S.A.1.4%
TOTAL20.3%

Sector Weightings as of 12/31/17
SECTOR% OF PORTFOLIO
Financials24.0%
Industrials16.2%
Consumer Discretionary14.9%
Information Technology9.2%
Consumer Staples8.3%
Materials7.5%
Health Care7.4%
Real Estate6.4%
Telecommunication Services4.1%
Energy1.4%
Utilities0.6%
Total100.0%
Country Diversification as of 12/31/17
COUNTRY% OF PORTFOLIO
Japan22.4%
France13.4%
United Kingdom12.2%
Switzerland7.6%
Germany7.2%
Sweden4.8%
Australia4.4%
Netherlands4.3%
Singapore3.0%
Hong Kong2.7%
Denmark2.2%
Spain2.2%
Turkey1.9%
Belgium1.8%
Other9.9%
Total100.0%

View the most recent quarterly holdings report filed with the Securities and Exchange Commission.

Formerly the Domini European PacAsia Social Equity Fund.

Characteristics

Portfolio Overview

Socially screened, mid- to large-capitalization international equity fund.

 

Investment Style:

Blend

Weighted Average Market Capitalization:

Large

Portfolio Statistics

  DOMAX MSCI EAFE*
Price-to-Earnings Ratio (projected) 12.4x 14.5x
Price-to-Book Ratio 1.4x 1.7x
Beta (projected) 1.03 --
R-squared (projected) 0.97 --
Total Number of Holdings 174 913

All data as of 9/30/17.

*The Morgan Stanley Capital International Europe, Australia, and Far East Index (MSCI EAFE) is an unmanaged index of common stocks. Investors cannot invest directly in an index.

Definitions:

The Price/Earnings Ratio is a stock’s current price divided by the company’s trailing 12-month earnings per share. The Price/Book Ratio is used to compare a stock's market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarter's book value per share. The P/E and P/B ratio of a fund is the weighted average of the price/earnings and price/book ratios of the underlying stocks in a fund’s portfolio.

R-squared measures how a fund’s performance correlates with a benchmark index’s performance and shows what portion of it can be explained by the performance of the overall market/index. R-squared ranges from  0, meaning no correlation, to 1, meaning perfect correlation.

Beta is a measure of the volatility of a fund relative to its benchmark index. A beta greater (less) than 1 is more (less) volatile than the index.

Commentary

Class A Shares Performance Commentary

The Fund invests primarily in mid- to large-cap equities across Europe, the Asia-Pacific region, and throughout the rest of the world. It is managed through a two-step process designed to capitalize on the strengths of Domini Impact Investments and Wellington Management Company, the Fund’s subadvisor. Domini creates an approved list of companies based on its social, environmental and governance analysis, and Wellington seeks to add value using a diversified stock selection approach, while managing risk through a systematic and disciplined portfolio construction process. Download Commentary as a PDF.

Making a Difference

Domini engages in direct dialogue with corporations in our portfolios and files shareholder proposals on a broad range of social, environmental, and corporate governance issues. Shareholder activism — the practice of active ownership — lies at the heart of what we believe responsible investing is all about. Here are a few ways your investment in the Domini Funds has made a difference. For more stories, click here

Protecting Freedom of Expression and Privacy on the Internet

Internet and telecommunications companies receive thousands of requests per year from governments around the world to censor content or divulge information about their users. Many of these requests violate international human rights principles. For the past ten years, Domini has helped to build the Global Network Initiative (GNI), an organization focused on protecting freedom of expression and privacy from improper government intrusion.

Addressing Corporate Tax Avoidance

Corporate tax avoidance has been an important component of our engagement and policy work for several years.  The United Nations’ backed Principles for Responsible Investment is a global network of investors responsible for $60 trillion in assets.  After expressions of interest from a significant number of its members, PRI established a Taskforce on Tax, including Domini, to develop guidance to help investors engage with corporations on global tax strategies.  

Our Position on Fossil Fuel Owners and Producers

For many years, Domini has incorporated concerns about the environmental risks of companies owning and producing fossil fuels into our investment standards. Over time, we have gradually eliminated an increasing number of these firms from our holdings as our concerns about a variety of environmental and safety issues, including climate change, have increased.

United Nations Includes Corporate Sustainability Reporting in its Sustainable Development Goals

In September 2015, the United Nations’ General Assembly adopted its 2030 Agenda for Sustainable Development. In meetings with UN delegates in 2012 and 2013, we explained that the private sector and, in particular, multinational corporations, will need to play an important role if these ambitious “Sustainable Development Goals” are to be realized.