Yields, along with the perception of where yields are headed, can have a significant impact on smaller companies in general. Fiera has exhibited strength relative to smaller companies, as represented by the Russell 2000 Index, as short-term (as represented by the 2-Year Treasury yield) yields rose from historically low levels to over 5% in less than a year. As rates fall, shown in the chart below, smaller companies can often benefit from the perception of easier financing in the future. Once again, Fiera has exhibited the strength of discovering high quality small- and mid-sized companies that can benefit from rates falling.
Falling Treasury Yields Signal Small- and Mid-Cap Rebound
2-Year Treasury yield vs Russell 2000 Index and NYLI Fiera SMID Growth Fund (Class I)
NYLI Fiera SMID Growth Fund
Average annual returns as of 6/30/24
In the "Falling Treasury Yields Signal Small- and Mid-Cap Rebound chart", performance displayed (as of 7/31/24) is for NYLI Fiera SMID Growth Fund (Class I) and does not include any sales charges or expense.
Source: Fiera Capital, MSCI, Bloomberg, Fama-French Research Database. Performances in USD. As of 6/30/24..
It is not possible to invest directly in an index. Past performance is no guarantee of future results, which will vary.
Click on the "Explore APSGX" button above for the most current fund page, which includes, the prospectus, investment objectives, performance, risk, and other important information. Returns represent past performance which is no guarantee of future results. Current performance may be lower or higher. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Visit newyorklifeinvestments.com/funds or newyorklifeinvestments.com/etf and for the most recent month-end performance.
Consider NYLI Fiera SMID Growth Fund
A focus on global secular trends
Proprietary investment process combines bottom-up fundamental stock selection with top-down global secular trends.
A dynamic combination
Portfolio construction consists of a dynamic combination of stable and emerging growth companies.
A disciplined approach
A disciplined, consistent, and repeatable process over multiple economic cycles.
Sharpe ratio is a measure of risk-adjusted performance.
Sortino ratio measures the risk-adjusted return of an investment asset, portfolio, or strategy. It considers downside deviation as volatility.
Volatility (Vol) is a statistical measure of the dispersion of returns for a given security or market index.
BEFORE YOU INVEST
Before considering an investment in the Fund, you should understand that you could lose money.
Securities of small-cap and mid-cap companies may be subject to greater price volatility, significantly lower trading volumes, cyclical, static or moderate growth prospects and greater spreads between their bid and ask prices than securities of larger companies.
Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market moves. During periods of growth stock underperformance, a fund’s performance may suffer.
Foreign securities can be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy.
Treasury Securities are backed by the full faith and credit of the United States government as to payment of principal and interest if held to maturity. Interest income on these securities is exempt from state and local taxes.