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Conservative Upgrader Fund

The Conservative Upgrader Fund (RELAX) is an active balanced approach that seeks growth and stability. With RELAX, you'll own an all-in-one portfolio of core stock funds and bond funds in one fund purchase.

Inception date

07/01/02

Invest directly or at major brokers

Minimum Investment

$1,000

No load
No redemption fee

Fund facts

Top holdings

as of 11/30/2020

Permanent Portfolio
PRPFX
7.60
Calvert Balanced I
CBAIX
6.00
Fidelity Adv Balanced
FAIOX
5.90
Pax Sustainable Alloc Fund Inst
PAXIX
5.80
Janus Hndrsn Balanced I
JBALX
5.70
George Putnam Balanced Fund Y
PGEYX
5.60
Fidelity Puritan
FPURX
5.50
Vanguard Star
VGSTX
5.30
Vanguard Growth ETF
VUG
4.80
Polen Growth Fund I
POLIX
4.70
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Invesco Summit Y
ASMYX
3.90
Columbia Balanced Inst 2
CLREX
3.80
iShares Russell Top 200 Gr
IWY
3.70
TransAm Cap Growth
TFOIX
3.60
iShares MSCI USA Momentum Factor ETF
MTUM
3.40
Fidelity Blue Chip Growth
FBGRX
3.00
Vanguard Mega Cap 300 Growth
MGK
2.00
Osterweis Strategic Inc
OSTIX
2.00
Metropolitan West HiYld Bnd I
MWHIX
1.90
SPDR BBG Barclays Hi Yld Bnd
JNK
1.90
Vanguard Wellesley Inc Admiral
VWIAX
1.90
Fidelity Adv Gr Opportunities I
FAGCX
1.80
Vanguard Intm-Tm Bnd
BIV
1.80
Guggenheim Total Return Bond I
GIBIX
1.10
Carillon Reams Unconstrained Bnd I
SUBFX
1.00
Fidelity Capital & Income
FAGIX
1.00
Fidelity Real Estate Income
FRIFX
1.00
Calvert Short Duration I
CDSIX
0.90
iShares Broad US$ Inv Gr Corp
USIG
0.90
iShrs iBoxx $ Inv Grd Corp Bnd
LQD
0.90
Vanguard Total Bond Mkt ETF
BND
0.90
Cash
CASH
0.70

PORTFOLIO ALLOCATION

as of

% in portfolio

Core Equity
30.90
%
Balanced
43.60
%

FIXED INCOME

Low Volatility Equity
10.50
%
High Yield Bonds
4.80
%
Intermediate Term Bonds
4.50
%
Strategic Bonds
4.10
%
Short Term Bonds
0.90
%
Cash
0.70
%
Total
100.00
%

Fund holdings are subject to change at any time and are not recommendations to buy or sell any of the underlying funds. References to other mutual funds should not be considered an offer of these securities. Global allocation is based on the most recent data available from Morningstar.

This chart illustrates the performance of a hypothetical $10,000 investment made in the Fund for the period ending 11/30/2020. It assumes reinvestment of dividends and capital gains, but does not reflect the effect of any applicable sales charge or redemption fees. This chart does not imply any future performance.

Month End
Performance % to 11/30/2020 1 Mo YTD 1 Yr
RELAX 7.87 8.40 10.03
Mnst GlbMkt Lrg-Mid 12.41 10.93 14.78
Balanced Index (60% S&P 500 / 40% Barc Agg Bond) 6.96 12.08 14.08
Gross expense ratio 1.94%
Net expense ratio 1.94%

(includes underlying fund expenses) The advisor has contractually agreed to a fee waiver through January 31, 2021.

Quarter End
Performance % to 09/30/2020 1 Yr 5 Yrs 10 Yrs Annualized Cumulative
RELAX 5.99 7.72 7.11 6.74 228.67
Mnst GlbMkt Lrg-Mid 10.17 10.23 8.63 7.87 298.65
Balanced Index (60% S&P 500 / 40% Barc Agg Bond) 12.50 10.37 9.85 7.66 284.65
Gross expense ratio 1.94%
Net expense ratio 1.94%

(includes underlying fund expenses) The advisor has contractually agreed to a fee waiver through January 31, 2021.

Top holdings

as of 11/30/2020

Permanent Portfolio
PRPFX
7.60
Calvert Balanced I
CBAIX
6.00
Fidelity Adv Balanced
FAIOX
5.90
Pax Sustainable Alloc Fund Inst
PAXIX
5.80
Janus Hndrsn Balanced I
JBALX
5.70
George Putnam Balanced Fund Y
PGEYX
5.60
Fidelity Puritan
FPURX
5.50
Vanguard Star
VGSTX
5.30
Vanguard Growth ETF
VUG
4.80
Polen Growth Fund I
POLIX
4.70
Invesco Summit Y
ASMYX
3.90
Columbia Balanced Inst 2
CLREX
3.80
iShares Russell Top 200 Gr
IWY
3.70
TransAm Cap Growth
TFOIX
3.60
iShares MSCI USA Momentum Factor ETF
MTUM
3.40
Fidelity Blue Chip Growth
FBGRX
3.00
Vanguard Mega Cap 300 Growth
MGK
2.00
Osterweis Strategic Inc
OSTIX
2.00
Metropolitan West HiYld Bnd I
MWHIX
1.90
SPDR BBG Barclays Hi Yld Bnd
JNK
1.90
Vanguard Wellesley Inc Admiral
VWIAX
1.90
Fidelity Adv Gr Opportunities I
FAGCX
1.80
Vanguard Intm-Tm Bnd
BIV
1.80
Guggenheim Total Return Bond I
GIBIX
1.10
Carillon Reams Unconstrained Bnd I
SUBFX
1.00
Fidelity Capital & Income
FAGIX
1.00
Fidelity Real Estate Income
FRIFX
1.00
Calvert Short Duration I
CDSIX
0.90
iShares Broad US$ Inv Gr Corp
USIG
0.90
iShrs iBoxx $ Inv Grd Corp Bnd
LQD
0.90
Vanguard Total Bond Mkt ETF
BND
0.90
Cash
CASH
0.70

Fund holdings are subject to change at any time and are not recommendations to buy or sell any of the underlying funds. References to other mutual funds should not be considered an offer of these securities. Global allocation is based on the most recent data available from Morningstar.

Portfolio Allocation

PORTFOLIO ALLOCATION

as of

% in portfolio

Core Equity
30.90
%
Balanced
43.60
%

FIXED INCOME

Low Volatility Equity
10.50
%
High Yield Bonds
4.80
%
Intermediate Term Bonds
4.50
%
Strategic Bonds
4.10
%
Short Term Bonds
0.90
%
Cash
0.70
%
Total
100.00
%
Month End
Performance % to 11/30/2020 1 Mo YTD 1 Yr
RELAX 7.87 8.40 10.03
Mnst GlbMkt Lrg-Mid 12.41 10.93 14.78
Balanced Index (60% S&P 500 / 40% Barc Agg Bond) 6.96 12.08 14.08
Gross expense ratio 1.94%
Net expense ratio 1.94%

(includes underlying fund expenses) The advisor has contractually agreed to a fee waiver through January 31, 2021.

Quarter End
Performance % to 09/30/2020 1 Yr 5 Yrs 10 Yrs Annualized Cumulative
RELAX 5.99 7.72 7.11 6.74 228.67
Mnst GlbMkt Lrg-Mid 10.17 10.23 8.63 7.87 298.65
Balanced Index (60% S&P 500 / 40% Barc Agg Bond) 12.50 10.37 9.85 7.66 284.65
Gross expense ratio 1.94%
Net expense ratio 1.94%

(includes underlying fund expenses) The advisor has contractually agreed to a fee waiver through January 31, 2021.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. For Performance data current to the most recent month end, please call 866-455-3863. Returns shown are cumulative, unless otherwise noted.

The Morningstar Global Market Large-Mid Cap Index measures the performance of developed and emerging countries across the world, targeting the top 90% of stocks by market capitalization. The S&P 500 Index is a broad based unmanaged index of 500 U.S. stocks, which is widely recognized as representative of the U.S. equity market. The Bloomberg Barclays Aggregate Bond Index is a market-capitalization-weighted index of investment-grade fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities, with maturities of at least one year. You cannot invest directly in an index.

How to Invest

Available at Charles Schwab, Fidelity, Etrade, TD Ameritrade and Vanguard.
Minimum investment: $1,000