Investment Objective and Strategy
The Fund seeks to achieve capital preservation while producing positive returns with low volatility regardless of broad equity and debt market directions.
The Adviser seeks to achieve the Fund’s investment objective by investing the Fund’s assets in multiple exchange-traded funds (“ETFs”) and open-end mutual funds (collectively, the “underlying funds”) that pursue a number of traditional and non-traditional or “alternative” investment strategies. As such, the Fund is a “fund of funds.” The underlying funds also have the ability to pursue their own sector exposures and may invest in a broad range of securities, commodities and other financial instruments. The Fund’s multiple strategies and sectors approach seeks to provide greater overall returns with similar volatility when compared to the HFRX Global Hedge Fund Index (“HFRX”).
Average Annual Returns as of 02/28/17
|YTD||1 Yr||3 Yr||5 Yr||10 Yr|
|Investor Class - VLDSX 1||1.97%||1.05%||-1.02%||-0.08%||N/A|
|Institutional Class - VLDIX||1.98%||1.20%||-0.81%||0.15%||N/A|
|HFRX Global Hedge Fund Index||1.63%||7.48%||-0.51%||1.34%||-0.55%|
|Percentile Rank as of 02/28/17||-||73%||85%||95%||N/A%|
VLDSX Gross / Net Expense Ratio*: 7.51%/3.14%, VLDIX Gross / Net Expense Ratio*: 3.30%/2.89%
1 Represents the performance of the Investor Class Shares after June 10, 2016 (inception of the share class), and Institutional Class Shares prior to that date. Inception date for Institutional Class is Jan. 31, 2011.
†Morningstar™ Ratings and Rankings based on Institutional class shares.
Since Inception date for Institutional Class (1/31/2011).
VLDSX Gross / Net Expense Ratio*: 7.51%/3.14%, VLDIX Gross / Net Expense Ratio*: 3.30%/2.89%.
1 Indicates Morningstar Extended Performance. Extended performance is an estimate based on the performance of the fund's oldest share class, adjusted for fees. The Inception Date of VLDIX is November 1, 2015.
†Morningstar™ Ratings and Rankings based on Investor class shares.
Morningstar† as of 02/28/17
|3 Year||of 237 Funds|
|5 Year||of 142 Funds|
|10 Year||of N/A Funds|
|Overall||of 237 Funds|
*The Adviser, the Manager and EULAV Securities LLC, the Fund’s principal underwriter (the “Distributor”), have agreed to waive a portion of their management, advisory and, in the case of the Investor Class, Rule 12b-1 fees, and the Manager has further agreed to reimburse certain expenses of the Fund, to the extent necessary to limit the total annual operating expenses of each class (other than those attributable to Acquired Fund Fees and Expenses, interest, taxes, brokerage commissions, and extraordinary expenses not incurred in the ordinary course of the Fund’s business) to a specified percentage of such class’s average daily net assets (the “Expense Limitation”). Pursuant to the Expense Limitation, the total annual operating expenses (subject to the specified exclusions) will be limited to the annualized rate of 1.45% and 1.20% of the average daily net assets attributable to Investor Class shares and Institutional Class shares, respectively. The Adviser, the Manager and the Distributor may subsequently recover the reimbursed expenses and/or waived fees from a particular class (within three years after the fiscal year end in which the waiver/reimbursement occurred) to the extent that such class’s expense ratio is less than the Expense Limitation. The Expense Limitation can be terminated or modified before June 30, 2017 only with the agreement of the Board of Trustees of the Value Line Funds Investment Trust (the “Trust”). The Fund's performance would be lower in the absence of such waivers.
†Morningstar™ Categories based on Institutional class shares.
The performance data quoted herein represents past performance and does not guarantee future results. Market volatility can dramatically impact the fund's short term performance. Current performance may be lower or higher than figures shown. The investment return and principal value will fluctuate so that an investor's shares, when redeemed may be worth more or less than their original cost. Past performance data through the most recent month end is available at vlfunds.com or by calling 1-800-243-2729.
You should carefully consider investment objectives, risks, charges and expenses of Value Line Funds before investing. This and other information can be found in the fund's prospectus and summary prospectus, which can be obtained free of charge from your investment representative, by calling 800.243.2729, or by clicking on the applicable fund at www.vlfunds.com. Please read it carefully before you invest or send money. The inception dates of Value Line Mutual Funds range from 1950 to 2016. Value Line Funds are distributed by EULAV Securities LLC. Past performance is no guarantee of future results.
Portfolio holdings are subject to change and should not be considered a recommendation to buy or sell securities. Current and future portfolio holdings are subject to risk.
The average annual returns shown above are historical and reflect changes in share price, reinvested dividends and are net of expenses. Investment results and the principal value of an investment will vary.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three- year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. VLIFX (3 Year / 5 stars / 583 funds; 5 Year / 4 stars / 507 funds; 10 Year / 3 stars / 370 funds; ) VALLX (3 Year / 4 stars / 1315 funds; 5 Year / 3 stars / 1161 funds; 10 Year / 3 stars / 805 funds; ) VLEOX (3 Year / 4 stars / 605 funds; 5 Year / 5 stars / 533 funds; 10 Year / 4 stars / 388 funds; ) VALSX (3 Year / 4 stars / 583 funds; 5 Year / 3 stars / 507 funds; 10 Year / 4 stars / 370 funds; ) VLAAX (3 Year / 4 stars / 723 funds; 5 Year / 4 stars / 616 funds; 10 Year / 4 stars / 429 funds; ) VALIX (3 Year / 4 stars / 354 funds; 5 Year / 4 stars / 290 funds; 10 Year / 5 stars / 219 funds; ) VLDSX (3 Year / 2 stars / 237 funds; 5 Year / 1 stars / 142 funds; 10 Year / N/A stars / N/A funds; ) VAGIX (3 Year / 2 stars / 854 funds; 5 Year / 2 stars / 754 funds; 10 Year / 2 stars / 540 funds; ) VLHYX (3 Year / 1 stars / 145 funds; 5 Year / 1 stars / 132 funds; 10 Year / 1 stars / 102 funds; )