Consistent Results:
All of our mutual funds have beaten their benchmark indices over the 3, 5, 10-year & since inception time periods.
Select Value Fund
(Investor: HRSVX; Institutional: HNSVX)
Overall Morningstar Rating™ as of 6/30/10 out of 345 mid-cap value funds.
Morningstar Proprietary Ratings™ reflect historical risk-adjusted performance as of June 30, 2010. The overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year Morningstar Rating™ metrics.
Investment philosophy
The Select Value Fund is a concentrated portfolio dynamically invested across capitalization spectrum with intent to pursue value irrespective of size.
Average Annual Total Net Returns as of 6/30/10:
| Select Value Fund |
Inception
Date |
Since
Inception |
Ten
Years |
Five
Years |
Three
Years |
One
Year |
Year
to Date |
| Investor Class |
10/11/96 |
9.44% |
9.42% |
3.46% |
-6.40% |
22.27% |
-5.70% |
| Institutional Class |
05/01/08 |
9.51 |
9.51 |
3.63 |
-6.15 |
22.67 |
-5.50 |
| Russell 3000 Value Index |
— |
6.14 |
2.74 |
-1.56 |
-12.13 |
17.57 |
-4.83 |
| S&P 500 Index * |
— |
4.81 |
-1.59 |
-0.79 |
-9.81 |
14.43 |
-6.65 |
Past performance does not guarantee future results. Performance information for the Institutional Class Shares prior to May 1, 2008 is based on the performance of the Investor Class. Performance represents past performance; current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost. All returns reflect reinvested dividends and capital gains distributions, but do not reflect the deduction of taxes that an investor would pay on distributions or redemptions. To obtain performance through the most recent month end, call 800-432-7856 or visit the Funds' Returns page on the website. Subject to certain exceptions, shares of a Fund redeemed or exchanged within 10 days of purchase are subject to a 2% redemption fee. Performance does not reflect this fee, which if deducted would reduce an individual's return.
In the prospectus dated 5/1/10, the gross expense ratio for the Heartland Select Value Fund Investor Class shares was 1.27%. The expense ratio as of the same date for the Institutional Class Shares was 0.94%. The Advisor has voluntarily agreed to waive fees and/or reimburse expenses with respect to the Institutional Class, to the extent necessary to maintain the Institutional Class's "Net Operating Expenses" at a ratio of 0.99% of average daily net assets. This voluntary waiver/reimbursement may be discontinued at any time. Also, through November 30, 2001, the Advisor voluntarily waived a portion of the Select Value Fund's expenses. Without such waivers, total returns would have been lower.
Value Plus Fund
(Investor: HRVIX; Institutional: HNVIX)
Overall Morningstar Rating™ as of 6/30/10, out of 321 small value funds.
Morningstar Proprietary Ratings™ reflect historical risk-adjusted performance as of June 30, 2010. The overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year Morningstar Rating™ metrics.
Investment philosophy
The Value Plus Fund seeks to capture the long-term capital appreciation of small-cap stocks, while potentially mitigating volatility by focusing on dividend-paying companies.
Learn more:
Average Annual Total Net Returns as of 6/30/10:
| Value Plus Fund |
Inception
Date |
Since
Inception |
Fifteen
Years |
Ten
Years |
Five
Years |
Three
Years |
One
Year |
Year
to Date |
| Investor Class |
10//26/93 |
10.55% |
10.57% |
10.21% |
5.75% |
-1.21% |
24.12% |
1.58% |
| Institutional Class |
05/01/08 |
10.58 |
10.61 |
10.27 |
5.87 |
-1.02 |
24.37 |
1.68 |
| Russell 2000 Value Index |
— |
8.75 |
8.87 |
7.48 |
-0.51 |
-9.85 |
25.07 |
-1.64 |
| Russell 2000 Index |
— |
6.82 |
6.63 |
3.00 |
0.37 |
-8.60 |
21.48 |
-1.95 |
Past performance does not guarantee future results. Performance information for the Institutional Class Shares prior to May 1, 2008 is based on the performance of the Investor Class. Performance represents past performance; current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost. All returns reflect reinvested dividends and capital gains distributions, but do not reflect the deduction of taxes that an investor would pay on distributions or redemptions. To obtain performance through the most recent month end, call 800-432-7856 or visit the Funds' Returns page on the website. Subject to certain exceptions, shares of a Fund redeemed or exchanged within 10 days of purchase are subject to a 2% redemption fee. Performance does not reflect this fee, which if deducted would reduce an individual's return.
As of the prospectus dated 5/1/10, the gross expense ratio for the Heartland Value Plus Fund Investor Class shares was 1.21%. The expense ratio as of the same date for the Institutional Class Shares is 1.03%. The Advisor has voluntarily agreed to waive fees and/or reimburse expenses with respect to the Institutional Class, to the extent necessary to maintain the Institutional Class's "Net Operating Expenses" at a ratio of 0.99% of average daily net assets. This voluntary waiver/reimbursement may be discontinued at any time.
There is no assurance that dividend-paying stocks will mitigate volatility.
Value Fund
(Investor: HRTVX; Institutional: HNTVX)
Overall Morningstar Rating™ as of 6/30/10, out of 321 small value funds.
Morningstar Proprietary Ratings™ reflect historical risk-adjusted performance as of June 30, 2010. The overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year Morningstar Rating™ metrics.
Investment philosophy
The Value Fund focuses on potentially inefficient small/micro-cap markets, which have historically outperformed.
Learn more:
Average Annual Total Net Returns as of 6/30/10:
| Value Fund |
Inception
Date |
Since
Inception |
Twenty
Years |
Ten
Years |
Five
Years |
Three
Years |
One
Year |
Year
to Date |
| Investor Class |
12/28/84 |
12.44% |
11.98% |
9.20% |
1.89% |
-9.22% |
21.00% |
-3.81% |
| Institutional Class |
05/01/08 |
12.47 |
12.02 |
9.27 |
2.02 |
-9.02 |
21.26 |
-3.69 |
| Russell 2000 Value Index |
— |
10.74 |
10.28 |
7.48 |
-0.51 |
-9.85 |
25.07 |
-1.64 |
| Russell 2000 Index |
— |
9.01 |
8.16 |
3.00 |
0.37 |
-8.60 |
21.48 |
-1.95 |
Past performance does not guarantee future results. Performance information for the Institutional Class Shares prior to May 1, 2008 is based on the performance of the Investor Class. Performance represents past performance; current returns may be lower or higher. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost. All returns reflect reinvested dividends and capital gains distributions, but do not reflect the deduction of taxes that an investor would pay on distributions or redemptions. To obtain performance through the most recent month end, call 800-432-7856 or visit the Funds' Returns page on the website. Subject to certain exceptions, shares of a Fund redeemed or exchanged within 10 days of purchase are subject to a 2% redemption fee. Performance does not reflect this fee, which if deducted would reduce an individual's return.
In the prospectus dated 5/1/10, the gross expense ratio for the Heartland Value Fund Investor Class shares was 1.18%. The expense ratio as of the same date for Institutional Class Shares is 0.94%. The Advisor has voluntarily agreed to waive fees and/or reimburse expenses with respect to the Institutional Class, to the extent necessary to maintain the Institutional Class's "Net Operating Expenses" at a ratio of 0.99% of average daily net assets. This voluntary waiver/reimbursement may be discontinued at any time.
All of the Heartland Funds are available in either Investor or Institutional share classes.