Investment objective & strategy
As of April 23, 2025 · prospectusObjective. The fund seeks investment results that are greater than the total return performance of publicly traded common stocks of medium-size domestic companies in the aggregate, as represented by the Standard & Poor's MidCap 400 Index (S&P MidCap 400 Index).
Strategy. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in stocks of mid-cap companies. The fund invests in growth and value stocks, which are chosen through a disciplined investment process that combines computer modeling techniques, fundamental analysis and risk management. Consistency of returns compared to the S&P MidCap 400 Index is a primary goal of the fund's investment process. The fund's sub-adviser, Newton Investment Management North America, LLC, an affiliate of BNY Mellon Investment Adviser, Inc., selects stocks through a "bottom-up," structured approach that seeks to identify undervalued securities using a quantitative ranking process. The process is driven by a proprietary quantitative model that measures a diverse set … To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in stocks of mid-cap companies. The fund invests in growth and value stocks, which are chosen through a disciplined investment process that combines computer modeling techniques, fundamental analysis and risk management. Consistency of returns compared to the S&P MidCap 400 Index is a primary goal of the fund's investment process. The fund's sub-adviser, Newton Investment Management North America, LLC, an affiliate of BNY Mellon Investment Adviser, Inc., selects stocks through a "bottom-up," structured approach that seeks to identify undervalued securities using a quantitative ranking process. The process is driven by a proprietary quantitative model that measures a diverse set of corporate characteristics to identify and rank stocks based on valuation, momentum and sentiment and earnings quality measures. Next, the fund's sub-adviser constructs the portfolio through a risk controlled process, focusing on stock selection as opposed to making proactive decisions as to industry and sector exposure. The fund seeks to maintain a portfolio that has exposure to industries and market capitalizations that are generally similar to those of the S&P MidCap 400 Index. Finally, within each sector and style subset, the fund seeks to overweight the most attractive stocks and underweight or not hold the stocks that have been ranked least attractive. The fund's sub-adviser monitors the holdings in the fund's portfolio, and considers selling a security if the company's relative attractiveness deteriorates or if valuation becomes excessive. The fund also may sell a security if an event occurs that contradicts the sub-adviser's rationale for purchasing it, such as deterioration in the company's fundamentals. In addition, the fund may sell a security if the sub-adviser determines better investment opportunities emerge elsewhere.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US FOODS HOLDING CORP | — | $2.23M | 1.43% |
| ITT INC | — | $2.17M | 1.39% |
| FLEX LTD | — | $2.05M | 1.31% |
| TECHNIPFMC PLC | — | $2.01M | 1.28% |
| WATTS WATER TECH INC CL A | — | $1.81M | 1.15% |
| FIRST HORIZON CORP | — | $1.80M | 1.15% |
| HANOVER INSURANCE GROUP INC | — | $1.79M | 1.14% |
| LINCOLN ELECTRIC HLDGS INC | — | $1.59M | 1.02% |
| ATI INC | — | $1.54M | 0.98% |
| BWX TECHNOLOGIES INC | — | $1.47M | 0.94% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Federated Hermes Mid-Cap Index Fund · FMDCX, FMCRX, FMCLX | 51% | 0.31% |
| Mid Cap Index Fund · VMIDX | 50% | 0.35% |
| iShares ESG Select Screened S&P Mid-Cap ETF · XJH | 50% | 0.12% |
Advisers
| Firm | Role |
|---|---|
| BNY Mellon Investment Adviser, Inc. | Adviser |
| Newton Investment Management North America, LLC | Sub-adviser |
| Newton Investment Management Limited | Sub-adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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