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Federated Clover Small Value Fund

VSFSX

Asset Class: Equity
Category: Small Cap
Prices as of 12-13-2018
NAV ($) 18.53
NAV Change ($) -0.29
   
YTD Total Returns as of 12-13-2018
NAV (%) -13.07

Average Annual Total Returns - Net Asset Value (NAV) (%)
Before Taxes as of 11-30-2018
1 Yr.
Ann.
3 Yr.
Ann.
5 Yr.
Ann.
10 Yr.
Ann.
Since
Inception
-5.53 6.80 5.83 11.90 10.26

Before Taxes as of 09-30-2018
1 Yr.
Ann.
3 Yr.
Ann.
5 Yr.
Ann.
10 Yr.
Ann.
Since
Inception
5.98 11.80 8.92 9.52 10.75

Expense Ratios (%)§ as of 11-30-2018
Gross Expense Ratio (Before Waivers) 1.07
Net Expense Ratio (After Waivers) 0.95

30-Day Yields as of 11-30-2018
Net Asset Value (NAV) Maximum Offering Price (MOP)
30-Day
Yield
Unsub.
30-Day
Yield
30-Day
Yield
Unsub.
30-Day
Yield
0.65 0.52

30-Day Yields as of 09-30-2018
Net Asset Value (NAV) Maximum Offering Price (MOP)
30-Day
Yield
Unsub.
30-Day
Yield
30-Day
Yield
Unsub.
30-Day
Yield
0.53 0.41

Current performance may be lower or higher than what is stated.

Performance quoted represents past performance, which is no guarantee of future results. 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.

Offering price figures reflect the maximum sales charge of 5.5% for A Shares. See the prospectus for other fees and expenses that apply to a continued investment in the fund.

Diversification does not assure a profit nor protect against loss.

Because the fund invests in smaller companies, it may be more volatile, and subject to greater short-term risk, than funds that invest in larger companies. Smaller companies may have limited resources, product lines and markets and their securities may trade less frequently and in more limited volumes than securities of larger companies.


§ The fund’s expense ratio is from the most recent prospectus. The expense ratio may reflect voluntary fee waivers and/or expense reimbursements determined by the fund’s Advisor and its affiliates. The voluntary waivers and/or reimbursements, if applicable, are in effect up to but not including the later of 12/01/2019 or the date of the fund’s next effective prospectus.

Total returns for periods of less than one year are cumulative.

The fund's R6 Shares commenced operations on March 29, 2016. For the period prior to the commencement of operations for the R6 Shares, the performance information shown is for the A shares adjusted to reflect the expenses of the R6 class for each year for which the expenses of the R6 would have exceeded the actual expenses paid by the fund’s A shares. The performance information has also been adjusted to reflect the absence of sales charges applicable to the A Shares.

Total return may have been lower in the absence of temporary expense waivers or reimbursements.

The fund commenced operations on March 16, 2009. On August 28, 2009, the Touchstone Diversified Small Cap Value Fund, formerly a portfolio of Touchstone Funds Group Trust (the “Touchstone Small Fund”) was reorganized into the fund. As a result of the reorganization, the Touchstone Small Fund became the accounting survivor. Accordingly, the fund's A and C Shares performance information prior to August 28, 2009, is historical information of Touchstone Small Fund, and the fund's IS Shares performance is historical information of the A Shares of Touchstone Small Fund. In relation to the IS Shares, the performance of the A Shares of the Touchstone Small Fund has not been adjusted to reflect the expenses of the IS Shares since the IS Shares have a lower expense ratio from the A Shares. The performance information shown has been adjusted to remove any voluntary waiver of fund expenses related to the A Shares that may have occurred during the period prior to the commencement of operations of the IS Shares. For the IS Shares, the performance information shown has also been adjusted to reflect the absence of sales charges applicable to the A Shares.

Value stocks may lag growth stocks in performance at times, particularly in late stages of a market advance.

After-tax returns are calculated using a standard set of assumptions. Actual after-tax returns depend on each investor’s personal tax situation, and are likely to differ from those shown. The stated returns assume the highest historical federal income and capital gains tax rates, but do not reflect the effect of any applicable state and local taxes. Return After Taxes on Distributions assumes a continued investment in the fund and shows the effect of taxes on fund distributions. Return After Taxes on Distribution and Sale of Fund Shares assumes all shares were redeemed at the end of each measurement period, and shows the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on fund distributions. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA, 401(k) plans. The after-tax average annual total returns are based on the 37% tax bracket and include the 3.8% tax on net investment income.

Investors should carefully consider the fund's investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, contact us or view the prospectus provided on this website. Please carefully read the summary prospectus or prospectus before investing.

For additional information, including definitions of related terms and indexes, see the Financial Glossary and Benchmark Index Glossary.

Federated Securities Corp., Distributor

Not FDIC Insured May Lose Value No Bank Guarantee

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