Applied Finance Explorer fund Investor Class

The Applied Finance Explorer Fund Investor Class (AFDVX) is an actively managed open-end mutual fund launched on June 30, 2015, listed on NASDAQ, and managed by Applied Finance Capital Management, a 100% employee-owned investment firm founded in 1995. The fund seeks long-term capital appreciation by investing primarily in the equity securities of small and mid-capitalization companies, defined as issuers with market capitalizations of less than $15 billion at the time of purchase, and is categorized as a Small Value fund by Morningstar. In selecting holdings, the adviser employs a proprietary Valuation Driven™ approach — rooted in its Economic Margin® framework — to identify companies trading below their intrinsic value, while considering factors such as valuation, projected earnings, growth potential, recent performance, and business strategy. With approximately $1 billion in net assets, a net expense ratio of 1.08%, and a diversified portfolio of over 140 holdings spanning sectors such as Financial Services, Healthcare, Real Estate, Technology, and Industrials, the fund also retains the flexibility to invest in other investment companies, including ETFs.