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A Strong Performing, Lower Risk, Focused Mid-Cap Solution

Mid-cap stocks are often called the “sweet spot of investing”. With the Value Line Mid Cap Focused Fund, the “sweet spot” just got a little sweeter.

3 Reasons to Consider the Value Line Mid Cap Focused Fund


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How does your fund compare to the Mid Cap Focused Fund?
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The Fund’s sole investment objective is long-term growth of capital.

To achieve the Fund’s investment objective, the Adviser invests substantially all of the Fund’s net assets in common stocks. Under normal circumstances, the Adviser invests at least 80% of the Fund’s assets in common stocks & other equity securities of mid-sized companies and expects that the Fund’s portfolio will generally consist of positions in 25 to 50 companies. The Fund considers companies to be mid-sized if they have market capitalizations between $6 billion and $45 billion at the time of purchase. The Fund is actively managed by the Adviser. During the investment selection process, the Adviser performs fundamental and quantitative analysis on each company and utilizes the rankings of companies by the Value Line Timeliness™ Ranking System (the “Ranking System”) to assist in selecting securities for purchase. The Adviser has discretion in managing the Fund, including whether and which ranked stocks to include within the Fund’s portfolio.

Average Annual Returns as of 02/29/24

YTD 1 Yr 3 Yr 5 Yr 10 Yr
transparent Investor Class - VLIFX 5.89% 23.33% 12.94% 14.83% 13.18%
transparent Institutional Class - VLMIX 1 5.94% 23.61% 13.23% 15.11% 13.37%
transparent S&P 500 7.11% 30.45% 11.91% 14.76% 12.70%
transparent S&P MidCap 400 TR 4.13% 13.05% 6.65% 10.38% 9.43%
transparent Morningstar Mid-Cap Growth Funds 6.50% 20.88% -0.10% 10.26% 9.59%
Morningstar Mid-Cap Growth Funds Ranking - 229/554 2/523 12/493 10/395
Percentile Rank as of 02/29/24 - 38% 1% 4% 3%
VLIFX Gross / Net Expense Ratio: 1.07%, VLMIX Gross / Net Expense Ratio: 0.86%.
Morningstar rates funds based on enhanced Morningstar risk-adjusted returns.
1Italics indicate 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 VLMIX is Aug. 11, 2017.
Morningstar™ Ratings and Rankings based on Investor class shares.
VLIFX VLMIX1 S&P 500 MMCGF
YTD 5.89% 5.94% 7.11% 6.50%
1 Yr 23.33% 23.61% 30.45% 20.88%
3 Yr 12.94% 13.23% 11.91% -0.10%
5 Yr 14.83% 15.11% 14.76% 10.26%
10 Yr 13.18% 13.37% 12.70% 9.59%
VLIFX Gross / Net Expense Ratio: 1.07%, VLMIX Gross / Net Expense Ratio: 0.86%.
Morningstar rates funds based on enhanced Morningstar risk-adjusted returns.
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 VLMIX is November 1, 2015.
Morningstar™ Ratings and Rankings based on Investor class shares.
The S&P 500 Index is the most widely accepted barometer of the Large-Cap U.S. equities market. The index includes 500 leading companies and covers approximately 80% of available market capitalization. The returns for the index do not include any transaction costs, management fees or other costs. An investor may not invest directly in the index. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”).
The S&P MidCap 400 Index, more commonly known as the S&P 400, serves as a gauge for the U.S. mid-cap equities sector and is designed to measure the performance of 400 mid-sized companies, reflecting the distinctive risk and return characteristics of this market segment.

Morningstar as of 02/29/24

Category Mid-Cap Growth Funds
3 Year of 523 Funds
5 Year of 493 Funds
10 Year of 395 Funds
Overall of 523 Funds

* EULAV Asset Management (the “Adviser”) and EULAV Securities LLC, the Fund’s principal underwriter (the “Distributor”), have agreed to permanently waive certain class-specific fees and/or pay certain class-specific expenses incurred by the Institutional Class so that the Institutional Class bears its class-specific fees and expenses at the same percentage of its average daily net assets as the Investor Class’s class-specific fees and expenses (excluding 12b-1 fees and any extraordinary expenses incurred in different amounts by the classes) (the “Expense Limitation”). The Adviser may subsequently recover from assets attributable to the Institutional Class the reimbursed expenses and/or waived fees (within 3 years from the month in which the waiver/reimbursement occurred) to the extent that the Institutional Class’s expense ratio is less than the Expense Limitation or, if lower, the expense limitation in effect when the waiver/reimbursement occurred. The Expense Limitation can be terminated only with the agreement of the Fund’s board. The Fund's performance would be lower in the absence of such waivers.

There are risks associated with investing in small and mid cap stocks, which tend to be more volatile and less liquid than stocks of large companies, including the risk of price fluctuations.

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 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. 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 / 523 funds; 5 Year / 5 stars / 493 funds; 10 Year / 5 stars / 395 funds; ) VALLX (3 Year / 1 stars / 1115 funds; 5 Year / 1 stars / 1040 funds; 10 Year / 2 stars / 811 funds; ) VLEOX (3 Year / 5 stars / 559 funds; 5 Year / 5 stars / 527 funds; 10 Year / 5 stars / 405 funds; ) VALSX (3 Year / 5 stars / 1115 funds; 5 Year / 3 stars / 1040 funds; 10 Year / 3 stars / 811 funds; ) VLAAX (3 Year / 5 stars / 695 funds; 5 Year / 4 stars / 655 funds; 10 Year / 5 stars / 487 funds; ) VALIX (3 Year / 1 stars / 695 funds; 5 Year / 3 stars / 655 funds; 10 Year / 4 stars / 487 funds; ) VAGIX (3 Year / 2 stars / 426 funds; 5 Year / 2 stars / 386 funds; 10 Year / 2 stars / 275 funds; )

Source: Morningstar Direct