Domini Impact Equity Fund ℠ - Institutional Shares

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Quick Facts

$23.27

Daily Price (NAV)
Symbol
DIEQX
Daily NAV Change
$0.04 (0.17%)

Manager:

Domini Impact Investments LLC

Submanager:

Wellington Management Company LLP

Symbol:

DIEQX

CUSIP:

257132852

Fund Type:

Diversified large-cap equity, socially screened

Inception Date:

Fund: 6/3/91

Institutional shares: 11/28/08

Net Assets:

Fund: $834.2 Million

Institutional shares: $139.4 Million

as of 3/31/18

Annual Expense Ratio 1

Gross: 0.74%

Net: 0.74%

Initial Sales Fee:

None (no-load)

Minimum Initial Investment: 2

$500,000

Fund Distributions

Dividends:

Quarterly

Capital Gains:

Annually

Institutional Shares Overview

Institutional shares are available to endowments, foundations, religious organizations, nonprofit entities, individuals, retirement plan sponsors, family office clients, private trusts, certain corporate or similar institutions, or omnibus accounts maintained by financial intermediaries that meet the minimum initial investment requirements. Please see the Fund's prospectus for further details, or call 1-800-498-1351.

Socially and environmentally concerned investors have social, as well as financial, objectives. The Domini Impact Equity Fund seeks to meet these objectives by offering a diversified stock portfolio for long-term capital appreciation that is consistent with social and environmental priorities.

Investment Objective

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

Investment Strategy

The Fund invests primarily in stocks of U.S. companies 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.

Shareholder Activism

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

Social and Environmental 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 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:

  • The Institutional share class of the Domini Impact Equity Fund is available to investors that meet the minimum investment requirements, have been approved by the distributor, and fall within the following categories: endowments, foundations, religious organizations and other nonprofit entities, individuals, retirement plan sponsors, family office clients, private trusts, certain corporate or similar institutions, or omnibus accounts maintained by financial intermediaries.
  • 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.

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 also subject to market, sector concentration, style, 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.

1. Domini Impact Investments LLC has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses in order to limit Institutional share expenses to 0.74% of its average daily net assets per annum until 11/30/18, absent an earlier modification by the Fund’s Board. Investors may meet the minimum initial investment amount by aggregating up to three separate accounts under the same registration within the Institutional share class of a Fund.

Accounts will generally not be established for omnibus or other accounts for which Domini provides recordkeeping and other shareholder services or for which the Fund is required to pay any type of administrative payment per participant account.

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

2. Investors may meet the minimum initial investment amount by aggregating up to three separate accounts within the Institutional share class of a Fund.

Note: On 11/30/06, the Fund, formerly an index fund, transitioned to an active management strategy. 

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

The Fund's returns, quoted above, 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. 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, sector concentration, style, and foreign investing risks. 

Institutional Shares Performance

Month-End Returns as of 3/31/2018
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YTD 1YR 3 YR* 5 YR* 10 YR* SINCE INCEPTION
(6/3/91)*
DIEQX -0.63% 9.37% 5.71% 10.59% 7.81% 8.36%
S&P 500 -0.76% 13.99% 10.78% 13.31% 9.49% 9.61%

*Average annual total returns.

Quarter-End Returns as of 3/31/2018
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YTD 1YR 3 YR* 5 YR* 10 YR* SINCE INCEPTION
(6/3/91)*
DIEQX -0.63% 9.37% 5.71% 10.59% 7.81% 8.36%
S&P 500 -0.76% 13.99% 10.78% 13.31% 9.49% 9.61%

*Average annual total returns.

Calendar Year Returns
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DIEQX S&P 500
2017 15.80% 21.83%
2016 11.66% 11.96%
2015 -6.97% 1.38%
2014 14.40% 13.69%
2013 33.46% 32.39%
2012 11.84% 16.00%
2011 1.12% 2.11%
2010 14.25% 15.06%
2009 36.22% 26.46%
2008 -37.88% -37.00%
2007 1.46% 5.50%
2006 12.58% 15.79%
2005 2.03% 4.91%
2004 9.26% 10.88%
2003 27.13% 28.69%
2002 -20.69% -22.10%
2001 -12.76% -11.88%
2000 -15.05% -9.11%
1999 22.63% 21.04%
1998 32.99% 28.58%
1997 36.02% 33.36%
1996 21.84% 23.07%
1995 35.17% 37.50%
1994 -0.36% 1.26%
1993 6.54% 10.08%
1992 12.10% 7.68%
Quarterly Returns
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DIEQX S&P 500
1st Qtr 2018 -0.63% -0.76%
4th Qtr 2017 4.91% 6.64%
3rd Qtr 2017 4.56% 4.48%
2nd Qtr 2017 0.34% 3.09%
1st Qtr 2017 5.21% 6.07%
4th Qtr 2016 4.05% 3.82%
3rd Qtr 2016 7.68% 3.85%
2nd Qtr 2016 -1.81% 2.46%
1st Qtr 2016 1.49% 1.35%
4th Qtr 2015 2.37% 7.04%
3rd Qtr 2015 -8.22% -6.44%
2nd Qtr 2015 -2.13% 0.28%
1st Qtr 2015 1.18% 0.95%
4th Qtr 2014 3.38% 4.93%
3rd Qtr 2014 1.62% 1.13%
2nd Qtr 2014 5.79% 5.23%
1st Qtr 2014 2.94% 1.81%
4th Qtr 2013 9.57% 10.51%
3rd Qtr 2013 7.33% 5.24%
2nd Qtr 2013 2.85% 2.91%
1st Qtr 2013 10.33% 10.61%

*Average annual total returns.

On 11/30/06, the Fund changed to an active management strategy. Past performance through 11/29/06 represents the former passive investment strategy, and is not indicative of future results.

Institutional shares were not offered prior to 11/28/08. All performance information for time periods beginning prior to November 28 is the performance of the Investor shares. This performance has not been adjusted to reflect the lower expenses of the Institutional shares.

Annual Expense Ratio: Gross: 0.74% / Net: 0.74%. Per current prospectus. Domini has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses in order to limit Institutional share expenses to 0.74% 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.

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. 

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, sector concentration, style, and foreign investing risks. 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.

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


Ten Largest Holdings as of 3/31/2018
Company % of Portfolio
Alphabet Inc. 3.5%
Mastercard Inc. 3.1%
Intel Corporation 3.0%
IBM Corporation 2.7%
Prudential Financial, Inc. 2.6%
Walgreens Boots Alliance, Inc. 2.6%
Gilead Sciences, Inc. 2.5%
Cummins, Inc. 2.4%
CBRE Group, Inc. 2.3%
Robert Half Intl., Inc. 2.3%
TOTAL 27.1%
Sector Weightings as of 3/31/2018
Sector % of Portfolio
Information Technology 25.6%
Financials 16.9%
Health Care 15.0%
Consumer Discretionary 11.3%
Industrials 8.5%
Consumer Staples 6.9%
Real Estate 4.8%
Telecommunication Services 3.9%
Utilities 3.4%
Materials 3.3%
Energy 0.4%
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

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

Investment Style:

Blend

Weighted Average Market Capitalization:

Large
Portfolio Statistics as of 3/31/2018
Swipe to view table
DIEQX S&P 500
Price-to-Earnings Ratio (projected) 13.3x 15.2x
Price-to-Book Ratio 2.6x 3.3x
Beta (projected) 0.98 --
R-squared (projected) 0.97 --
Market Cap Asset Weighted Avg. (Millions) $133,863 $198,751
Total Number of Holdings 134 500

*These statistics are provided by Wellington Management as calculated by its proprietary portfolio management system.

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.

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.

Institutional Shares Performance Commentary

The Fund invests primarily in mid- and large-cap U.S. equities. 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 and manage risk through a systematic and disciplined portfolio construction process. 

Download Commentary as a PDF.

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.

Annual Expense Ratio: Gross: 0.74% / Net: 0.74%. Per current prospectus. Domini has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses in order to limit Institutional share expenses to 0.74% 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.

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, sector concentration, style, and foreign investing risks. Select the Overview tab above or see the prospectus for more information on risk.

The performance information above does not reflect the deduction of fees and taxes that a shareholder would pay on distributions or the redemption of Fund shares. Certain fees and expenses also apply to a continued investment and are described in each Fund's prospectus. 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. You cannot invest directly in an 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.

This Commentary is provided for informational purposes only. Nothing herein is to be considered a recommendation concerning the merits of any noted company, or an offer of sale or a solicitation of an offer to buy shares of any Fund or company referenced herein. Such offering is only made by prospectus, which includes details as to the offering price and other material information. Please read the prospectus carefully before investing.

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 Social 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.

 

View or download the Domini Funds’ prospectus and other documents below. If you would like any of these documents mailed to you, free of charge, call 1-800-762-6814 (Monday to Friday, 9 a.m. - 6 p.m. EST) or fill out our online Request Information form.

Many of the documents listed below are in PDF format. To view these documents, you will need Adobe Reader software, version 4.0 or higher. If you don’t have Adobe Reader, you can download it for free at Adobe’s website.


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.

The Domini Funds are distributed by DSIL Investment Services LLC (DSILD), Member FINRA. Domini Impact Investments LLC (Domini) is the Funds’ investment manager. The Funds are subadvised by Wellington Management Company LLP. DSILD and Domini are not affiliated with Wellington Management Company LLP.

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