The index is generally considered representative of U.S. The S&P 500 Index is an unmanaged, market capitalization weighted index composed of 500 widely held common stocks that assumes the reinvestment of dividends. Index Descriptions 1 Inception date for the Fund was December 8, 1993.Ģ The S&P 500 Index/MSCI World Index (Hedged to US$) is a combination of the S&P 500 Index and the MSCI World Index (Hedged to US$) linked together by Tweedy, Browne, and represents the performance of the S&P 500 Index for the periods 12/8/93 - 12/31/06, and the performance of the MSCI World Index (Hedged to US$) beginning 1/01/07 and thereafter (beginning December 2006, the Fund was permitted to invest more significantly in non-U.S. The expense ratios shown above reflect the inclusion of acquired fund fees and expenses (i.e., the fees and expenses attributable to investing cash balances in money market funds) and may differ from those shown in the Funds' financial statements. The Fund does not impose any front-end or deferred sales charge. The performance data shown above would have been lower had certain fees and expenses not been waived and/or reimbursed during certain periods. The net expense ratio set forth above reflect this limitation, while the gross expense ratio does not. (For purposes of this calculation, each Fund's acquired fund fees and expenses, brokerage costs, interest, taxes and extraordinary expenses are disregarded, and each Fund's expense ratio is rounded to two decimal points). Tweedy, Browne has voluntarily agreed, effective Decemthrough at least July 31, 2022, to waive a portion of the Fund's investment advisory fees and/or reimburse a portion of the Fund's expenses to the extent necessary to keep the Fund's expense ratio equal to or below the expense ratio of the Global Value Fund. Current performance may be higher or lower than the performance data quoted. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The performance shown, before and after taxes, represents past performance and is not a guarantee of future results. Index returns are not adjusted to reflect the deduction of taxes that an investor would pay on distributions or the sale of securities comprising the index. Investors cannot invest directly in an index, unlike an index fund. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. Returns after taxes on distributions and sale of fund shares are adjusted for federal income taxes associated with fund distributions and reflect the federal income tax impact of gains or losses recognized when fund shares are sold. Returns after taxes on distributions are adjusted for federal income taxes associated with fund distributions, but do not reflect the federal income tax impact of gains or losses recognized when fund shares are sold. Total Annual Fund Operating Expenses (After Fee Waiver and/or Expense Reimbursement) as disclosed in the Fund's most recent prospectus:Īfter-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Total Annual Fund Operating Expense Ratio as disclosed in the Fund's most recent prospectus: Return after Taxes on Distributions & Sale of Fund SharesĪnnual Total Returns For Periods Ending 12/31/22 (%) Value Fund: Investment Performance And Expense Ratio Investment Performance - Calendar Year Returns (%)
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