The Fund’s investment objective is to achieve a high total investment return (current income and capital appreciation) consistent with reasonable risk. For this purpose, risk takes into account volatility and other factors as determined by the Adviser.
The Adviser attempts to achieve the Fund’s investment objective by following an asset allocation strategy based upon Value Line Inc.’s proprietary stock market model and other factors that enables the Adviser to periodically shift the assets of the Fund among three types of securities: (a) common stocks, (b) debt securities with maturities of more than one year that are principally rated investment grade and (c) money market instruments, which the Fund defines as debt securities with maturities of less than one year. There are no limits on the percentage of the Fund’s assets that can be invested in common stocks, debt or money market securities.
Average Annual Returns as of 05/31/21
|VLAAX||VLAIX1||60% S&P500 / 40% BCAGG||MMAF|
VLAAX Gross / Net Expense Ratio: 1.08% , VLAIX Gross / Net Expense Ratio*: 0.83% / 0.83%.
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 VLAIX is November 1, 2015.
†Morningstar™ Ratings and Rankings based on Investor class shares.
Morningstar† as of 05/31/21
|Category||Alloc 50-70% Equity|
|3 Year||of 661 Funds|
|5 Year||of 604 Funds|
|10 Year||of 425 Funds|
|Overall||of 661 Funds|
* EULAV Asset Management (the “Adviser”) has contractually agreed to waive through June 30, 2022 certain Fund-wide fees and further assume certain Fund-wide expenses to the extent necessary to limit such expenses (excluding brokerage commissions, interest, taxes, and certain non-routine Fund-wide expenses) to 0.90% of the average daily net assets of each class (the “Fund-level Expense Limitation”). In addition, the Adviser and EULAV Securities LLC (the “Distributor”) have contractually agreed to permanently waive certain class-specific fees and assume certain class-specific expenses 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 certain non-routine class-specific expenses) (the “Class Expense Limitation,” together with the Fund-level Expense Limitation, the “Expense Limitations”). Each Expense Limitation can be terminated with the agreement of the Fund’s Board. The Adviser and the Distributor may subsequently recover from a class any fees waived and expenses assumed within three years from the month in which the waiver or assumption occurred for such class, to the extent its expense ratio is less than the applicable Expense Limitation or, if lower, the expense limitation in effect when the waiver or assumption occurred. The Fund's performance would be lower in the absence of such waivers.
†Morningstar™ Categories based on Investor class shares.
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 / 4 stars / 547 funds; 5 Year / 3 stars / 490 funds; 10 Year / 4 stars / 380 funds; ) VALLX (3 Year / 2 stars / 1141 funds; 5 Year / 3 stars / 1028 funds; 10 Year / 3 stars / 758 funds; ) VLEOX (3 Year / 3 stars / 582 funds; 5 Year / 3 stars / 506 funds; 10 Year / 4 stars / 385 funds; ) VALSX (3 Year / 3 stars / 1141 funds; 5 Year / 2 stars / 1028 funds; 10 Year / 2 stars / 758 funds; ) VLAAX (3 Year / 4 stars / 661 funds; 5 Year / 4 stars / 604 funds; 10 Year / 5 stars / 425 funds; ) VALIX (3 Year / 5 stars / 292 funds; 5 Year / 5 stars / 266 funds; 10 Year / 5 stars / 183 funds; ) VAGIX (3 Year / 2 stars / 393 funds; 5 Year / 2 stars / 341 funds; 10 Year / 2 stars / 259 funds; ) VLHYX (3 Year / 1 stars / 145 funds; 5 Year / 1 stars / 123 funds; 10 Year / 1 stars / 99 funds; )
Source: Morningstar Direct