Page 302 - DCAC Feb 2026 Files

Manager Scorecard
Criteria Costs
Median Ratio of
Philosophy Style Exp Ratio
Org. Culture People Asset Base Perf. Expenses Overall Exp Ratio Exp to
& Process Consistency (%)
(%) Median (%)
American Funds American Mutual R6 0.270 0.820 32.927
American Funds Fundamental Invs R6 0.280 0.750 37.333
Fidelity 500 Index 0.015 0.750 2.000
American Funds Growth Fund of Amer R6 0.290 0.900 32.222
American Century Mid Cap Value R6 0.620 0.930 66.667
Fidelity Mid Cap Index 0.025 0.860 2.907
MassMutual Mid Cap Growth I 0.660 1.010 65.347
Boston Partners Small Cap Value II I 1.090 1.090 100.000
Fidelity Small Cap Index 0.025 1.000 2.500
Harbor Small Cap Growth Instl 0.880 1.130 77.876
Fidelity International Index 0.035 0.900 3.889
American Funds EUPAC R6 0.470 0.950 49.474
Invesco Developing Markets R6 0.880 1.120 78.571
Fidelity U.S. Bond Index 0.025 0.530 4.717
PIMCO Total Return Instl 0.460 0.630 73.016
Parnassus Core Equity Institutional 0.610 0.750 81.333
SAGIC Core Bond 0.420 0.730 57.530
Vanguard Target Retirement 2040 Fund 0.080 0.700 11.429

Legend For Overall Criteria
No/Minimum Concerns New No/Minimum Concerns
Minor Concern Upgrade to Minor Concern
Major Concern Downgrade to Minor Concern
Under Review New Major Concern

Manager Score Factor Comments
American Funds American Mutual R6 People Effective December 2025, portfolio managers James Terrile, William Robins, and Brantley Thompson left this strategy. The fund is still managed
by 5 long-standing portfolio managers, and a concern is not warranted. Innovest will continue to monitor. (4Q25)
American Funds Growth Fund of Amer R6 Performance The strategy has underperformed its benchmark and peers over the rolling 3-year and 5 year period. Innovest will continue to monitor the
fund.
American Century Mid Cap Value R6 People Michael Liss, co-manager of American Century Mid Cap Value, will retire at year-end 2025, leaving the firm on March 31, 2026. This transition
is expected to have minimal impact due to the team-based management approach. CIO Kevin Toney remains lead manager, supported by Brian
Woglom, Nathan Rawlins, and a stable analyst team.
American Century Mid Cap Value R6 Performance This fund’s performance has struggled over the 3- and 5-year time periods against its benchmark and peer group. Innovest
will continue to monitor the performance of this fund.
MassMutual Mid Cap Growth I Asset Base The fund has experienced 30% of total AUM outflows in the last 12 months. Innovest will continue to monitor the funds asset flows. (4Q25)
The Expense Ratio and Median Expense Ratio for Hedge Fund of Funds and Private Equity Fund of Funds excludes underlying fund expenses; the expenses shown are only at the Fund of Funds level.
For additional disclosures related to any non-mutual fund alternative investments, please see the full disclaimer in the appendix.
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