Plumb Balanced Fund

Plumb Balanced Fund


The Plumb Funds proudly follow the Wisconsin Capital Management tradition of striving to produce solid risk-adjusted returns by buying quality companies who are participating or supporting secular changes in the market.

We also seek out companies that we believe are well-positioned to benefit from current market conditions with a goal of out-performing over the entire business cycle. We find them particularly attractive when they can be purchased at what we believe are depressed prices when compared to our estimates of value.

For the Plumb Balanced Fund, we believe that holding a diverse group of stocks moderated by an allocation to bonds as well holds the potential to provide competitive returns under different market environments. In seeking to achieve a better risk-adjusted return on its equity investments, the Fund invests in many types of stocks, including a blend of large, mid-sized and small company stocks. Our flexible approach to investing enables us to adapt to changing market trends and conditions and to invest where we believe opportunity exists.

Performance Plumb Balanced Fund

Morningstar Analysis

Morningstar is a leading provider of independent investment research, analyzing approximately 500,000 investment offerings worldwide.

As of 12/31/2020 based on risk-adjusted returns

Star Rating
Overall Rating 3 Years  5 Years  10 Years 
Among 636
Allocation-50% to 70%
Equity Funds
Among 636
Allocation-50% to 70%
Equity Funds
Among 575
Allocation-50% to 70%
Equity Funds
Among 414
Allocation-50% to 70%
Equity Funds
Percentile Ranking
 1 Year 3 Years 5 Years 10 Years
4% 4% 2% 7%
Among 673
Allocation-50% to 70%
Equity Funds
Among 636
Allocation-50% to 70%
Equity Funds
Among 575
Allocation-50% to 70%
Equity Funds
 Among 414
Allocation-50% to 70%
Equity Funds

Average Annualized Returns %

Periods less than one year are not annualized

Inception 5/24/07

Quarter-end as of 12/31/2020
Fund Name QTD YTD 1 Year 3 Year 5 Year 10 Year
PLBBX 10.92 21.66 21.66 13.77 13.78 10.18
55% S&P500/35% Barclays Govt./Credit/10% MSCI EAFE Price 8.43 13.56 13.56 9.92 10.28 9.12
Bloomberg Barclays Intermediate Government/Credit Index 0.48 6.43 6.43 4.67 3.64 3.11
MSCI EAFE Price (USD) 15.75 5.43 5.43 1.55 4.59 2.62
S&P 500 TR 12.15 18.40 18.40 14.18 15.22 13.88
Month-end as of 02/28/2021
Fund Name MON YTD 1 Year 3 Year 5 Year 10 Year
PLBBX 2.32 -0.48 26.89 12.55 14.96 9.76
55% S&P500/35% Barclays Govt./Credit/10% MSCI EAFE Price 1.44 0.67 19.96 9.95 11.13 8.78
Bloomberg Barclays Intermediate Government/Credit Index -0.82 -1.09 2.35 4.76 3.06 2.96
MSCI EAFE Price (USD) 2.11 0.99 19.85 1.87 6.84 2.17
S&P 500 TR 2.76 1.72 31.29 14.14 16.82 13.43


Expense ratio: Gross 1.18%; Net 1.19%
The advisor has contractually agreed to waive fees through 7/31/2021. Investment performance reflects fee waivers. In the absence of these waivers, returns would be reduced.S&P 500 Index is an unmanaged market capitalization-weighted index based on the average weighted performance of 500 widely held common stocks. Barclays Capital Intermediate Government/Credit Bond Index is an unmanaged market value weighted index measuring both the principal price changes of, and income provided by, the underlying universe of securities that comprise the index. MSCI EAFE Index in an index intended to reflect the performance of major developed countries’ international equity markets, besides the United States and Canada. Blended Benchmark is made up of 55% S&P 500 index, 35% Barclays capital intermediate government/credit bond index and 10% MSCI EAFE index. You can not invest directly in an index.

Calendar Year Returns % (10-years)
2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
PLBBX 23.20 -1.74 23.22 5.06 -0.59 10.41 22.21 4.97 -1.80 11.49

Performance data quoted represents past performance and does not guarantee future results. Investment returns and principal value will fluctuate, and when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.

As of 12/31/2020, Morningstar rated the Funds as follows: Equity Fund 3, 3, 3 and 2 stars for Overall, 3, 5, and 10 years among 1197, 1197, 1070 and 789 Large Growth Funds; Balanced Fund 5, 5, 5 and 4 stars for Overall, 3, 5 and 10 years among 636, 636, 575 and 414 Allocation-50%to 70% Equity Funds based on risk adjusted returns. The Morningstar RatingTM for funds, or “star rating”, is calculated for mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three, five, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

The Morningstar Rankings represent a fund’s total-return rank relative to all funds that have the same Morningstar Category. The highest percentile rank is 1 and the lowest is 100. It is based on Morningstar total return, which includes both income and capital gains or losses and is not adjusted for sales charges or redemption fees.

© 2020 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold shares of the Plumb Balanced Fund.

Shareholder Fees (fees paid directly from your investment)
Maximum Sales Charge (Load) Imposed on Purchases None
Maximum Deferred Sales Charge (Load) None
Maximum Sales Charge (Load) Imposed on Reinvested Dividends/Distributions None
Redemption Fee (exclusive of wire transfer charges of $15.00, if applicable None
Exchange Fee None Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) None
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees 0.65%
Distribution and/or Service (12b-1) Fees 0.19%
Other Expenses 0.34%
Total Annual Fund Operating Expenses 1.18%
Fee Waivers and Expense Reimbursements(1) 0.01%
Total Annual Fund Operating Expenses After Fee Waivers and Expense Reimbursements
(expenses that you pay each year as a percentage of the value of your investment)

(1)The Funds’ Advisor, Wisconsin Capital Management, LLC (the “Advisor”), has contractually agreed, at least until July 31, 2020, to waive fees and reimburse expenses of the Balanced Fund so as to cap its annual operating expense ratios (excluding Acquired Fund Fees and Expenses) at 1.19% of its average daily net assets. This expense cap may not be terminated prior to this date except by the Board of Directors. For any year in which the Fund’s actual operating expense ratio is lower than the applicable cap, the Advisor may recoup any or all of the fees it has waived and/or the expenses it has reimbursed during the immediately preceding 36 months, provided the amount of recoupment in any year shall be limited so that it does not cause the Fund’s total operating expenses to exceed the current cap or the applicable cap at the time of waiver for that year.

FUND INFO as of 12/31/2020


CUSIP: 976586107

MIN /SUBSQ/IRA: $2500/$1000/$100

AUM: $146.9 mil