Domini Impact Equity Fund ℠ - Investor Shares

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as of 10/23/2020

Quick Facts

$28.62

Daily Price (NAV)
Symbol
DSEFX
Daily NAV Change
$0.10 (0.35%)

Adviser

Domini Impact Investments LLC

Subadviser

SSGA Funds Management, Inc.

CUSIP

257132100

Fund Type

Core U.S. stock market exposure through diversified mid- to large-cap domestic equities

Fund Objective

Long-term total return

Inception Date

6/3/91

Net Assets

Fund: $875.8 million
Investor shares: $745.1 million
as of 9/30/20

Annual Expense Ratio

Gross/Net: 1.09%
Per current prospectus.

Front-End Sales Charge (Load)

None

Minimum Initial Investment

$2,500 for standard accounts
$1,500 for retirement accounts, custodial accounts, and accounts opened with an automatic investment plan

Fund Distributions

Dividends

Distributed quarterly

Capital Gains

Distributed annually

The Domini Impact Equity FundSM Investor Shares (DSEFX) ranks in the top 1% of the US Fund Large Blend category of mutual funds as calculated by Morningstar, a respected mutual fund ranking service, based on one-year risk-adjusted total return as of September 30, 2020.

Open an account Request Information Read more about this rating and risk information

Fund Fact Sheet

Overview

While pursuing their financial objectives, impact investors seek to use their investments to create a more fair and sustainable world. The Domini Impact Equity Fund is a diversified stock portfolio seeking long-term total return consistent with the promotion of universal human dignity and ecological sustainability.

Investment Strategy

The Fund combines two investment management strategies: "U.S. Core" and "Thematic Solutions." 

U.S. Core is comprised of mid- to large-capitalization stocks with strong social and environmental profiles relative to their peers, as determined by Domini's proprietary in-house research of each company's impact.

Thematic Solutions seeks to invest in solution-oriented sustainability leaders across the full market-capitalization spectrum.

Domini provides investment instructions to the Fund’s subadviser, SSGA Funds Management, Inc. (SSGA). SSGA purchases and sells securities to implement Domini's investment selections and manages the amount of the Fund's assets to be held in short-term investments.

Learn more

Impact Investment Standards

Domini evaluates the Fund’s current and 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 ecosystems, communities, customers, employees, suppliers, and investors.

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.

Learn more

Engagement

The Fund advances its social and environmental objectives through proxy voting, dialogue with corporations, and the filing of shareholder resolutions.

Investor Profile

Who should invest?

  • Investors seeking long-term growth of capital
  • Investors committed to the Fund's social and environmental investment standards

Who should not invest?

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

Risks

An investment in the Domini Impact Equity Fund is not a bank deposit and is not insured. You may lose money. An investment in the Fund is subject to market, market sector, impact investing, and foreign investing risks. Investing internationally involves special risks, such as currency fluctuations, social and economic instability, differing security regulations and accounting standards, limited public information, possible changes in taxation, and periods of illiquidity. 

The reduction or withdrawal of historical financial market support activities by the U.S. Government and Federal Reserve, or other governments/central banks could negatively impact financial markets generally, and increase market risk which could adversely affect the Fund’s returns.

The Fund may change any of the policies described above at any time.

Note: Effective December 1, 2018, Domini Impact Investments LLC directly selects the Fund's investments. SSGA Funds Management, Inc. ("SSGA") serves as the Fund's subadviser to purchase and sell securities to implement Domini's investment instructions and manage the Fund's short-term investments. 

Although the Domini Impact Equity Fund Investor shares are no-load, certain fees and expenses apply to a continued investment and are described in the prospectus

The Fund's returns, quoted below, represent past performance after all expenses, which is no guarantee of future results. Investment return, principal value, and yield will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Each Fund charges a 2.00% redemption fee on sales or exchanges of shares made less than 30 days after the settlement of purchase or acquisition through exchange, with certain exceptions. See the applicable prospectus for further information. 

The performance quoted above does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Total return is based on the Fund’s net asset values and assumes all dividends and capital gains were reinvested.

Investor Shares Performance

Month-End Returns as of 9/30/2020
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YTD 1YR 3 YR* 5 YR* 10 YR*
DSEFX 16.38% 27.16% 13.45% 12.85% 12.05%
S&P 500 Index 5.57% 15.15% 12.28% 14.15% 13.74%

*Average annual total returns.

Quarter-End Returns as of 9/30/2020
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YTD 1YR 3 YR* 5 YR* 10 YR*
DSEFX 16.38% 27.16% 13.45% 12.85% 12.05%
S&P 500 Index 5.57% 15.15% 12.28% 14.15% 13.74%

*Average annual total returns.

Calendar Year Returns
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DSEFX S&P 500
2019 31.66% 31.49%
2018 -9.08% -4.38%
2017 15.42% 21.83%
2016 11.24% 11.96%
2015 -7.27% 1.38%
2014 13.97% 13.69%
2013 32.85% 32.39%
2012 11.33% 16.00%
2011 0.74% 2.11%
2010 13.69% 15.06%
2009 35.56% 26.46%
2008 -37.88% -37.00%
2007 1.46% 5.50%
Quarterly Returns
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DSEFX S&P 500
3rd Qtr 2020 11.56% 8.93%
2nd Qtr 2020 23.39% 20.54%
1st Qtr 2020 -15.46% -19.60%
4th Qtr 2019 9.26% 9.07%
3rd Qtr 2019 1.68% 1.70%
2nd Qtr 2019 4.31% 4.30%
1st Qtr 2019 13.61% 13.65%
4th Qtr 2018 -13.85% -13.52%
3rd Qtr 2018 6.50% 7.71%
2nd Qtr 2018 -0.21% 3.43%
1st Qtr 2018 -0.70% -0.76%

NOTE: The Fund's current investment strategy commenced on December 1, 2018 with SSGA Funds Management, Inc as its subadviser. Performance information for periods prior to December 1, 2018 reflects the investment strategies employed during those periods. 

Past performance is no guarantee of future results. The Fund’s returns quoted above represent past performance after all expenses. The returns reflect any applicable expense waivers in effect during the periods shown. Without such waivers, Fund performance would be lower. Investment return, principal value, and yield will fluctuate.  Your shares, when redeemed, may be worth more or less than their original cost. Select the Performance Tab above for more complete performance information, including returns current to the most recent month-end, which may be lower or higher than the performance data quoted. A 2.00% redemption fee applies on sales or exchanges of shares made less than 30 days after the settlement of purchase or acquisition through exchange, with certain exceptions. See the prospectus for further information. 

The Domini Impact Equity Fund is not a bank deposit and is not insured.  The Fund is subject to market, market sector, impact investing, and foreign investing risks. Investing internationally involves special risks, such as currency fluctuations, social and economic instability, differing security regulations and accounting standards limited public information possible changes in taxation, and periods of illiquidity. You may lose money. Select the Overview tab above or see the prospectus for more information on risk.

The performance above does not reflect the deduction of fees and taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Total return is based on the Fund’s net asset values and assumes all dividends and capital gains were reinvested.

The Standard & Poor’s 500 Index (S&P 500) is an unmanaged index of common stocks. Investors cannot invest directly in the S&P 500.

Although the Domini Impact Equity Fund Investor shares are no-load, certain fees and expenses apply to a continued investment and are described in the prospectus. The composition of the Fund's portfolio is subject to change.

Annual Expense Ratio1.09%. Per current prospectus.

The Fund's Investor, Class A, Institutional, and Class R share ordinary operating expenses will be capped at 1.09%, 1.09%, 0.74%, and 0.80%, respectively, through November 30, 2020, absent an earlier modification by the Funds' Board.

Top Ten Portfolio Holdings as of 9/30/2020
Security Weight
Apple Inc 8.28%
Microsoft Corp 7.47%
Amazon.com Inc 6.38%
Alphabet Inc Cl A 4.10%
Procter & Gamble Co/THE 1.64%
Tesla Inc 1.55%
Nvidia Corp 1.53%
Home Depot Inc 1.42%
Mastercard Inc A 1.41%
Verizon Communications Inc 1.17%
Total 34.95%
GICS Sector Weightings as of 9/30/2020
Sector Weight
Information Technology 32.61%
Health Care 14.74%
Consumer Discretionary 13.64%
Communication Services 10.25%
Financials 8.77%
Industrials 7.89%
Consumer Staples 6.45%
Real Estate 2.93%
Materials 2.01%
Utilities 0.69%
Energy 0.00%
Total 100.00%

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

View Complete Portfolio Holdings

The composition of the Fund’s portfolio is subject to change. The Domini Funds maintain portfolio holdings disclosure policies that govern the timing and circumstances of disclosure to shareholders and third parties of information regarding the portfolio investments held by the Funds.

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 Domini Impact Investments.  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 nor shall any such party have any liability therefrom.

Portfolio Overview

Investment Style:

Blend

Weighted Average Market Capitalization:

Large
Portfolio Statistics* as of 9/30/2020
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Fund S&P 500 Index
Number of Holdings 321 505
Annual Turnover (as of 7/31/19)** 78% -
Weighted-Average Market Cap ($M) 513,544 452,867
Median Market Cap ($M) 23,176 22,989
Price/Book Ratio 4.7x 3.8x
Price/Earnings Ratio (Trailing 12 Months) 29.7x 26.1x
Return on Equity (Trailing 12 Months) 14.30% 10.80%
Tracking Error (1-Year Projected) 3.00% -
Beta (1-Year Projected) 0.98 -

* Source: Bloomberg Portfolio Risk & Analytics, except as noted by **. All characteristics are as of September 30, 2020, unless otherwise noted.

Definitions

Annual Turnover is the lesser of purchases or sales for the trailing 12 months divided by the portfolio's average trailing 13-month net asset values. 

Price/Book Ratio is the weighted harmonic average of the price/book ratios of the stocks in the portfolio, which are the stocks’ most recent closing prices divided by their book value per share. 

Price/Earnings Ratio is the weighted harmonic average of the price/earnings ratios of the stocks in the portfolio, which are the stocks’ most recent closing prices divided by their earnings per share over the trailing 12 months. 

Dividend Yield is the weighted harmonic average of the dividend yields of the stocks in the portfolio, which are the stocks’ dividends per share over the trailing 12 months divided by their most recent closing prices. 

Return on Equity is the portfolios total net income less cash preferred dividends divided by the portfolio's total common equity. 

Tracking Error is the standard deviation of residual returns, which are the differences between fund's projected returns and the index's projected returns. Tracking error measures the degree of dispersion of fund returns around the index. Generally, the higher the tracking risk, the greater the active bets the manager has taken.

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.

The composition of the Fund’s portfolio is subject to change. View the most current list of the Domini Impact Equity Fund's holdings. The Domini Funds maintain portfolio holdings disclosure policies that govern the timing and circumstances of disclosure to shareholders and third parties of information regarding the portfolio investments held by the Funds.

The Standard & Poor’s 500 Index (S&P 500) is an unmanaged index of common stocks. You cannot invest directly in an index.


Check the background of DSIL Investment Services LLC and its investment professionals on FINRA's BrokerCheck. Before investing, consider the Domini Funds’ investment objectives, risks, charges, and expenses. View or order a prospectus. Read it carefully.

DSIL Investment Services LLC (DSILD) distributor, Member FINRA.

Domini Impact Investments LLC (Domini) is the Funds’ investment manager. The Funds are subadvised by unaffiliated entities.

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