The net asset figures are based on month-end net assets, recorded in millions of dollars. Net-asset figures are useful in gauging a fund’s size, agility, and popularity. Morningstar lists the month-end assets, as they have been reported by the fund. It is important to keep in mind that the size of the fund as measured by net assets has little or no correlation to the size of the companies in which the fund invests. For example, a fund has over $2 billion in net assets, with an average market cap of $863 million. In other words, this is a very large fund that invests primarily in equity securities of small companies with market capitalizations less than $1 billion.