MMSMX Performance — Multi-Manager U.S. Small Cap Equity Fund, Class P
Data updated: 2026-06-24
MMSMX returned +11.59% year to date and +30.80% over one year to Apr 2026. Annualised returns are +12.60% over 3 years and +4.07% over 5 years. The fund trailed its US Small Blend category average: $100 invested three years ago grew to $143, against $153 for the category, and to $131 over one year, against $135. Volatility over the past three years was 17.37% a year. In the 12 months to Apr 2026 the fund lost a net $323.1M, and assets reached $350.71M.
MMSMX Growth of $100
What $100 invested in Multi-Manager U.S. Small Cap Equity Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Blend category average over the same months.
| Period | MMSMX | Category average |
|---|---|---|
| 1 year (May 2025 – Apr 2026) | $131 | $135 |
| 3 years (May 2023 – Apr 2026) | $143 | $153 |
| 5 years (May 2021 – Apr 2026) | $122 | $133 |
| Since data start (Aug 2019 – Apr 2026) | $163 | $192 |
MMSMX Trailing Returns
Total returns to Apr 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +11.59% |
| 1 year | +30.80% |
| 3 years (annualised) | +12.60% |
| 5 years (annualised) | +4.07% |
MMSMX Annual Returns
Calendar-year total returns of Multi-Manager U.S. Small Cap Equity Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Apr) | +11.59% |
| 2025 | +5.62% |
| 2024 | +7.92% |
| 2023 | +14.21% |
| 2022 | −16.14% |
| 2021 | +14.90% |
| 2020 | +9.80% |
| 2019 (Aug–Dec) | +5.95% |
MMSMX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +4.7% | +1.7% | −5.5% | +11.1% | — | — | — | — | — | — | — | — |
| 2025 | +3.2% | −3.7% | −6.9% | −2.6% | +5.3% | +4.4% | +1.0% | +3.6% | +0.8% | −0.3% | +1.6% | −0.2% |
| 2024 | −2.3% | +4.8% | +3.4% | −6.7% | +3.4% | −1.1% | +7.1% | −0.2% | +0.5% | −1.9% | +9.5% | −7.4% |
| 2023 | +8.2% | −1.3% | −3.0% | −1.8% | −2.1% | +7.7% | +3.7% | −2.9% | −4.9% | −6.2% | +8.1% | +9.6% |
| 2022 | −7.1% | +0.1% | −0.4% | −7.5% | +0.7% | −7.1% | +8.4% | −2.8% | −8.2% | +9.6% | +4.0% | −5.3% |
| 2021 | +1.5% | +6.8% | +1.9% | +3.9% | +0.5% | +0.2% | −0.7% | +0.6% | −3.6% | +4.3% | −4.8% | +4.0% |
| 2020 | −2.5% | −9.3% | −25.1% | +14.0% | +6.8% | +3.3% | +4.3% | +4.4% | −3.3% | +1.1% | +15.7% | +7.2% |
| 2019 | — | — | — | — | — | — | — | −4.4% | +2.4% | +1.8% | +4.5% | +1.8% |
MMSMX Risk
Risk measures from monthly returns over May 2023 – Apr 2026.
- 3-year volatility (annualised): 17.37%
- 3-year Sharpe ratio: 0.47 (vs 4.5% risk-free rate)
- Best month: +11.05% (Apr 2026)
- Worst month: −7.45% (Dec 2024)
MMSMX Fund Flows
Monthly money in and out of Multi-Manager U.S. Small Cap Equity Fund, from SEC Form N-PORT.
- 12-month net flow: −$323.1M
- 12-month gross sales (incl. reinvestments): $113.9M
- Sales ÷ redemptions: 0.26×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Apr 2026 | $1.2M | $23.2M | −$22.0M |
| Mar 2026 | $1.5M | $157.1M | −$155.6M |
| Feb 2026 | $2.5M | $71.4M | −$68.9M |
| Jan 2026 | $2.4M | $10.1M | −$7.6M |
| Dec 2025 | $60.8M | $14.5M | $46.3M |
| Nov 2025 | $9.3M | $40.3M | −$31.0M |
| Oct 2025 | $9.8M | $58.2M | −$48.4M |
| Sep 2025 | $938K | $7.5M | −$6.6M |
| Aug 2025 | $6.8M | $2.4M | $4.4M |
| Jul 2025 | $7.1M | $17.9M | −$10.8M |
| Jun 2025 | $4.1M | $12.5M | −$8.3M |
| May 2025 | $7.4M | $22.0M | −$14.6M |
MMSMX Assets Under Management
Net assets of Multi-Manager U.S. Small Cap Equity Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-04-30 | $350.71M |
| 2026-01-31 | $580.30M |
| 2025-10-31 | $591.17M |
| 2025-07-31 | $615.93M |
| 2025-04-30 | $585.76M |
| 2025-01-31 | $588.87M |
| 2024-10-31 | $550.01M |
| 2024-07-31 | $926.11M |
| 2024-04-30 | $845.91M |
| 2024-01-31 | $849.49M |
| 2023-10-31 | $721.40M |
| 2023-07-31 | $808.48M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.