Anton Schutz, President & CIO at Mendon Capital Advisors, expects regional banks' earnings declines are already priced in, with M&A (mergers and acquisitions) likely, especially among smaller banks.

Holdings are subject to change at any time. Click here for top 10 holdings of the Fund. All investments involve risk, and principal loss is possible.

The price-earnings ratio (P/E ratio) relates a company's share price to its earnings per share. A high P/E ratio could mean that a company's stock is over-valued, or else that investors are expecting high growth rates in the future.

The price-to-book (P/B) ratio measures the market's valuation of a company relative to its book value.