Value Line Asset Allocation Fund
Overview
Objective & Process
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.
Documents
Document | Date |
---|---|
Fact Sheet | 09/30/24 |
Commentary | Q3 2024 |
Summary Prospectus | 5/1/24 |
Prospectus | 5/1/24 |
SAI | 5/1/24 |
Annual Report | 12/31/23 |
Semi-Annual Report | 6/30/23 |
Q1 Holdings | 3/31/24 |
Q3 Holdings | 9/30/23 |
Daily Pricing as of 11/01/24
Class | NAV | % Change |
---|---|---|
Investor Class - VLAAX | $44.83 | 0.20% |
Institutional Class - VLAIX | $45.01 | 0.20% |
Fund Details
Item | Value |
---|---|
Regulatory Benchmark | S&P 500 |
Secondary Benchmark | 60/40 (S&P500/Bbg US Agg Bond) |
Morningstar Category | Moderate Allocation |
Managers & Commentary
Performance
Average Annual Returns as of 09/30/24
VLAAX | VLAIX1 | S&P 500 | 60% S&P500 / 40% BCAGG | MMAF | |
---|---|---|---|---|---|
YTD | 12.45% | 12.67% | 22.08% | 14.80% | 12.27% |
1 Yr | 25.82% | 26.17% | 36.35% | 25.98% | 21.99% |
3 Yr | 7.00% | 7.26% | 11.91% | 6.63% | 4.89% |
5 Yr | 8.97% | 9.25% | 15.98% | 9.78% | 8.01% |
10 Yr | 9.37% | 9.61% | 13.38% | 8.89% | 6.89% |
VLAAX Gross Expense Ratio: 1.06%, VLAIX Gross Expense Ratio: 0.82%
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. 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 60/40 S&P 500® Index/Bloomberg US Aggregate Bond Index is an unmanaged blended index which consists of a 60% weighting of the S&P 500® Index representative of the larger capitalization stocks traded in the United States and a 40% weighting of the Bloomberg US Aggregate Bond Index which is a broad-based benchmark that measures the investment grade, U.S. dollar denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, Mortgage Backed Securities (MBS) (agency fixed-rate and hybrid ARM pass-through’s), Asset Backed Securities (ABS), and Commercial Mortgage Backed Securities (CMBS). |
Morningstar† as of 09/30/24
Moderate Allocation Category | ||
---|---|---|
Period | Stars | Number of Funds |
3 Year | ★★★★ | of 682 Funds |
5 Year | ★★★★ | of 643 Funds |
10 Year | ★★★★★ | of 491 Funds |
Overall | ★★★★★ | of 682 Funds |
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10 Year Calendar Year Returns as of 09/30/24
Period | VLAAX | 60% S&P500 / 40% BCAGG | Diff. |
---|---|---|---|
2015 | 1.09 | 1.28 | -0.19 |
2016 | 5.77 | 8.31 | -2.54 |
2017 | 14.93 | 14.21 | 0.72 |
2018 | 2.03 | -2.35 | 4.38 |
2019 | 25.40 | 22.18 | 3.22 |
2020 | 15.24 | 14.73 | 0.51 |
2021 | 11.86 | 15.86 | -4.00 |
2022 | -15.67 | -15.79 | 0.12 |
2023 | 21.39 | 17.67 | 3.72 |
9/30 | 12.45 | 14.80 | -2.35 |
Portfolio Details as of 9/30/24
Top Ten Equity Holdings
Company Name | Weight (%) |
---|---|
TransDigm Group Inc | 4.79% |
Cintas Corp | 4.69% |
Republic Services Inc | 3.76% |
Fair Isaac Corp | 3.48% |
Tyler Technologies Inc | 3.21% |
Intercontinental Exchange Inc | 3.03% |
WR Berkley Corp | 2.95% |
ServiceNow Inc | 2.84% |
Costco Wholesale Corp | 2.77% |
Stryker Corp | 2.61% |
Equity Sector Distribution as of 09/30/24
Sector | Weight | |
---|---|---|
Technology | 39.24% | |
Industrials | 27.24% | |
Financial Services | 19.06% | |
Healthcare | 10.21% | |
Consumer Defensive | 4.25% |
Portfolio Statistics
3 Year Period, as of 09/30/24
Portfolio Composition
as of 09/30/24
Composition | Weight | |
---|---|---|
Equities | 65.27% | |
Fixed Income | 32.59% | |
Cash & Other | 2.14% |
Credit Quality (%)
as of 09/30/24
Composition | Weight | |
---|---|---|
AAA | 61.33% | |
AA | 3.06% | |
A | 8.00% | |
BBB | 26.85% | |
BB | 0.76% | |
B | 0.00% | |
NR | 0.00% |
Valuation
as of 09/30/24
Item | Value |
---|---|
TTM Yield | 0.88% |
Best 3 month period ended: | 01/31/24 15.28% |
Worst 3 month period ended: | 06/30/22 -11.05% |
Valuation (Quarterly)
as of 09/30/24
Item | Value |
---|---|
Price/Earnings | 37.44x |
Price/Book | 7.24x |
Price/Sales | 5.19x |
Price/Cash Flow | 30.51x |
Turnover (as of 12/31/23) | 29% |
Fees & Distributions as of 12/31/23
VLAAX Investor Class
Composition | Weight |
---|---|
Redemption Fee | N/A |
Expense Ratio Before Waivers | 1.06% |
Minimum Initial Investment | $1,000 |
Minimum Subsequent Investment | No Minimum |
VLAIX Institutional Class
Composition | Weight |
---|---|
Redemption Fee | N/A |
Expense Ratio Before Waivers | 0.82% |
Minimum Initial Investment (**See prospectus for exceptions) |
$100,000 |
Minimum Subsequent Investment | No Minimum |
2023 Year-End Distributions (Finalized)
Ticker | Ordinary Income | Short Term | Long Term | Total Per Share | Ex. Date | Pay Date |
---|---|---|---|---|---|---|
Investor Class - VLAAX | $0.43588 | - | $3.58766 | $4.02354 | 12/13 | 12/13 |
Institutional Class - VLAIX | $0.53537 | - | $3.58766 | $4.12303 | 12/13 | 12/13 |
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 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. 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.
VLEOX (3 Year / 5 stars / 545 funds; 5 Year / 5 stars / 517 funds; 10 Year / 5 stars / 398 funds; )
VLIFX (3 Year / 5 stars / 511 funds; 5 Year / 5 stars / 476 funds; 10 Year / 5 stars / 378 funds; )
VALLX (3 Year / 2 stars / 1076 funds; 5 Year / 2 stars / 1005 funds; 10 Year / 2 stars / 788 funds; )
VALSX (3 Year / 4 stars / 1076 funds; 5 Year / 2 stars / 1005 funds; 10 Year / 3 stars / 788 funds; )
VLAAX (3 Year / 4 stars / 682 funds; 5 Year / 4 stars / 643 funds; 10 Year / 5 stars / 491 funds; )
VALIX (3 Year / 1 stars / 682 funds; 5 Year / 4 stars / 643 funds; 10 Year / 4 stars / 491 funds; )
VAGIX (3 Year / 2 stars / 414 funds; 5 Year / 1 stars / 373 funds; 10 Year / 2 stars / 268 funds; )
Source: Morningstar Direct