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Flexible Income Fund

The Flexible Income Fund (INCMX) gives you a flexible approach to fixed income investing. With INCMX, you'll own a full portfolio of bond and total-return funds that adapts to changing bond markets, including changing interest rates. INCMX is designed for investors who seek the stability of fixed income and a buffer against the volatility of stocks.

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 10/31/2021

Permanent Portfolio
PRPFX
10.50
Fidelity Capital & Income
FAGIX
10.40
Fidelity Real Estate Income
FRIFX
10.20
Osterweis Strategic Inc
OSTIX
10.00
Vanguard Wellesley Inc Adm
VWIAX
9.50
Thompson Bond
THOPX
9.20
Metropolitan West HiYld Bnd I
MWHIX
8.80
SPDR BBG Barclays Hi Yld Bnd
JNK
7.00
Fidelity Adv Hi Inc Advant I
FAHCX
6.50
Federated Hermes Strategic Income I
STISX
4.80
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Columbia Strategic Income Fund Instl
CTIVX
4.60
Delaware Ivy High Income Instl
IVHIX
4.50
Loomis Sayles Bond Fund
LSBDX
3.80
Cash
CASH
0.20

Fixed Income Allocation

as of 10/31/2021

High Yield Bonds
37.20%
Strategic Bonds
32.40%
Low Volatility Equity
30.20%
Cash
0.20%

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 10/31/2021. 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 10/31/2021 1 Mo YTD 1 Yr
INCMX 0.66 4.42 9.67
Bloomberg Agg Bond Index -0.03 -1.58 -0.48
Gross expense ratio 1.32%
Net expense ratio 1.30%

(includes underlying fund expenses) The advisor has contractually agreed to a fee waiver through January 31, 2022.

Quarter End
Performance % to 09/30/2021 1 Yr 5 Yrs 10 Yrs Annualized Cumulative
INCMX 8.63 3.13 3.60 4.63 139.07
Bloomberg Agg Bond Index -0.90 2.94 3.01 4.29 124.66
Gross expense ratio 1.32%
Net expense ratio 1.30%

(includes underlying fund expenses) The advisor has contractually agreed to a fee waiver through January 31, 2022.

Top holdings

as of 10/31/2021

Permanent Portfolio
PRPFX
10.50
Fidelity Capital & Income
FAGIX
10.40
Fidelity Real Estate Income
FRIFX
10.20
Osterweis Strategic Inc
OSTIX
10.00
Vanguard Wellesley Inc Adm
VWIAX
9.50
Thompson Bond
THOPX
9.20
Metropolitan West HiYld Bnd I
MWHIX
8.80
SPDR BBG Barclays Hi Yld Bnd
JNK
7.00
Fidelity Adv Hi Inc Advant I
FAHCX
6.50
Federated Hermes Strategic Income I
STISX
4.80
Columbia Strategic Income Fund Instl
CTIVX
4.60
Delaware Ivy High Income Instl
IVHIX
4.50
Loomis Sayles Bond Fund
LSBDX
3.80
Cash
CASH
0.20

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.

Fixed Income Allocation

as of 10/31/2021

High Yield Bonds
37.20%
Strategic Bonds
32.40%
Low Volatility Equity
30.20%
Cash
0.20%
Month End
Performance % to 10/31/2021 1 Mo YTD 1 Yr
INCMX 0.66 4.42 9.67
Bloomberg Agg Bond Index -0.03 -1.58 -0.48
Gross expense ratio 1.32%
Net expense ratio 1.30%

(includes underlying fund expenses) The advisor has contractually agreed to a fee waiver through January 31, 2022.

Quarter End
Performance % to 09/30/2021 1 Yr 5 Yrs 10 Yrs Annualized Cumulative
INCMX 8.63 3.13 3.60 4.63 139.07
Bloomberg Agg Bond Index -0.90 2.94 3.01 4.29 124.66
Gross expense ratio 1.32%
Net expense ratio 1.30%

(includes underlying fund expenses) The advisor has contractually agreed to a fee waiver through January 31, 2022.

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 Bloomberg 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