Brandes - U.S. - NextShares Brandes Value NextShares Content

Brandes Value NextShares

The Fund seeks long-term capital appreciation by investing primarily in U.S. equity securities that the Fund’s investment team believes are undervalued relative to their financial strength and upside potential. The Fund typically focuses on large-cap equities but has the flexibility to purchase securities issued by companies of any size.

Learn more about Brandes Value NextShares.

Broad Opportunity Set with Value Potential

  • NextSharesTM — A new type of actively managed fund with the built-in cost and tax efficiencies of exchangetraded products.
  • Active Value — The Fund consistently applies a disciplined investment process focused on uncovering potentially attractive value opportunities primarily in U.S. equity securities. The Fund typically focuses on large-cap equities but has the flexibility to purchase securities issued by companies of any size.
  • Experience — Recognized as a global value pioneer, Brandes has been investing in global equities since 1974, and managing a dedicated U.S. equity strategy for over 25 years. The investment team is composed of experienced professionals who have managed extreme market cycles.

Partner with a Pioneer in Global Value Investing

  • Experienced Professionals — The Investment Committee is composed of experienced professionals who have managed extreme market cycles.
  • Commitment to Transparent, Easy to Understand Investment Process — The firm consistently applies a Graham-and-Dodd, value investing approach centered on a research-driven process of purchasing potentially undervalued companies with the goal of capturing future price appreciation.
  • Independent Point of View — Brandes Investment Partners is a 100% employee owned firm and its strategies are unhindered by sales quotas or any outside influence that may impede the firm’s pursuit of investment management excellence.

The Fund seeks long-term capital appreciation by investing primarily in equity securities of U.S. companies. Equity securities include common and preferred stocks, warrants and rights. While the Fund may purchase equity securities issued by companies of any size, it typically focuses its investments on large-capitalization equity securities.

Brandes Investment Partners, L.P., the Fund’s investment advisor (the Advisor), uses the principles of value investing to analyze and select equity securities for the Fund’s investment portfolio.  When buying equity securities, the Advisor assesses the estimated “intrinsic” value of a company based on data such as a company’s earnings, cash flow generation, and/or asset value of the underlying business. By choosing securities that are selling at a discount to the Advisor’s estimates of their share of the company’s intrinsic business value, the Advisor seeks to establish an opportunity for long-term capital appreciation. The Advisor may sell a security when its price reaches a target set by the Advisor, the Advisor believes that other investments are more attractive, or for other reasons.

Intraday Indicative Value/Basket Info

Shareholder Fees
(fees paid directly from your investment)
Annual Fund Operating Expenses
(expenses that you pay each year as a % of the value of your investment)
Management Fees -0 0.30%
Distribution (rule 12b-1) Fees -0 None
Other Expenses  
Shareholder Service Fees -0 None
Other Expenses1 -0 2.40%
Total Other Expenses -0 2.40%
Total Annual Fund Operating Expenses1 - 19.08%
Less: Fee Waiver and/or Expense Reimbursement1 -18.67%
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement1, 2 -0 0.41%

(1)       Based on estimated amounts for the current fiscal year.

(2)     Brandes Investment Partners, L.P., the Fund’s investment advisor (the “Advisor”), has contractually agreed to waive management fees and reimburse operating expenses of the Fund through January 31, 2020, to the extent necessary to ensure that the annual operating expenses of the Fund do not exceed 0.40% of the Fund’s average daily net assets, payable on a monthly basis (the “Expense Cap”). The Trust has agreed that the amount of any waiver or reimbursement will be repaid to the Advisor without interest at any time within three years from the time of the waiver or reimbursement, subject to Board approval. Additionally, the Advisor may only be repaid for waivers or reimbursements with respect to any period if the Fund’s operating expenses for such period (taking into account any repayments) do not exceed any lesser Expense Cap that may have been in place at the time of waiver or reimbursement. For this purpose, operating expenses do not include acquired fund fees and expenses, taxes, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, and extraordinary expenses such as litigation.

Intraday Indicative Value/Basket Info

Because the values of the Fund's investments will fluctuate with market conditions, so will the value of your investment in the Fund. You could lose money on your investment in the Fund, or the Fund could underperform other investments. The values of the Fund’s investments fluctuate in response to the activities of individual companies and general stock market and economic conditions. Investments in small and medium capitalization companies tend to have limited liquidity and greater price volatility than large capitalization companies.

About NextShares

Trading prices of shares are linked to the Fund’s next-computed NAV and will vary from NAV by a market-determined premium or discount, which may be zero. Trading prices of shares may be above, at or below NAV, and may vary significantly from anticipated levels. Trading in shares does not offer the opportunity to transact intraday based on current (versus end-of-day) determinations of the share value. Buyers and sellers of shares will not know the value of their purchases and sales until the Fund’s NAV is determined at the end of the trading day. Although limit orders can be used to control differences in trade price versus NAV (cost of trade execution), they cannot be used to control or limit execution price. Individual shares may only be purchased and sold on an Exchange through a broker and may not be purchased or redeemed directly from a Fund. Shares may be purchased or redeemed in transactions directly with a Fund only in Creation Unit quantities by or through Authorized Participants. There can be no guarantee that an active trading market for shares will develop or be maintained, or that their listing will continue or remain unchanged. The Basket is not intended to be representative of current Fund Positions and may vary significantly from the Fund Positions. Buying and selling shares on the Exchange may require the payment of brokerage commissions and expose the buyer or seller to other transaction costs. Due to brokerage commissions and other transaction costs that may apply, frequent trading may detract from realized investment returns; and an investor’s realized returns will be reduced if the investor sells shares at a greater discount or narrower premium to NAV than he or she acquired the shares.

Graham and Dodd Investment Approach: A method described by Benjamin Graham and David Dodd in their 1934 book Security Analysis for seeking securities which may be underpriced relative to the value of their underlying assets.