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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 11/30/2020

Osterweis Strategic Inc
OSTIX
10.30
Permanent Portfolio
PRPFX
10.30
Guggenheim Total Return Bond I
GIBIX
10.10
Vanguard Wellesley Inc Admiral
VWIAX
10.10
Vanguard Intm-Tm Bnd
BIV
10.00
Metropolitan West HiYld Bnd I
MWHIX
9.20
SPDR BBG Barclays Hi Yld Bnd
JNK
8.40
Fidelity Capital & Income
FAGIX
5.50
iShrs iBoxx $ Inv Grd Corp Bnd
LQD
5.20
iShares Broad US$ Inv Gr Corp
USIG
5.00
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Carillon Reams Unconstrained Bnd I
SUBFX
5.00
Calvert Short Duration I
CDSIX
4.70
Fidelity Real Estate Income
FRIFX
4.40
Vanguard Total Bond Mkt ETF
BND
1.60
Cash
CASH
0.20

Fixed Income Allocation

as of 11/30/2020

Stategic Bonds
25.40%
Low Volatility Equity
24.80%
High Yield Bonds
23.10%
Intermediate Term Bonds
21.80%
Short Term Bonds
4.70%
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 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
INCMX 3.54 -0.05 0.55
Barc Agg Bond Index 0.98 7.36 7.28
Gross expense ratio 1.64%
Net expense ratio 1.63%

(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
INCMX -2.32 2.60 2.75 4.42 120.08
Barc Agg Bond Index 6.98 4.18 3.64 4.59 126.69
Gross expense ratio 1.64%
Net expense ratio 1.63%

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

Top holdings

as of 11/30/2020

Osterweis Strategic Inc
OSTIX
10.30
Permanent Portfolio
PRPFX
10.30
Guggenheim Total Return Bond I
GIBIX
10.10
Vanguard Wellesley Inc Admiral
VWIAX
10.10
Vanguard Intm-Tm Bnd
BIV
10.00
Metropolitan West HiYld Bnd I
MWHIX
9.20
SPDR BBG Barclays Hi Yld Bnd
JNK
8.40
Fidelity Capital & Income
FAGIX
5.50
iShrs iBoxx $ Inv Grd Corp Bnd
LQD
5.20
iShares Broad US$ Inv Gr Corp
USIG
5.00
Carillon Reams Unconstrained Bnd I
SUBFX
5.00
Calvert Short Duration I
CDSIX
4.70
Fidelity Real Estate Income
FRIFX
4.40
Vanguard Total Bond Mkt ETF
BND
1.60
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 11/30/2020

Stategic Bonds
25.40%
Low Volatility Equity
24.80%
High Yield Bonds
23.10%
Intermediate Term Bonds
21.80%
Short Term Bonds
4.70%
Cash
0.20%
Month End
Performance % to 11/30/2020 1 Mo YTD 1 Yr
INCMX 3.54 -0.05 0.55
Barc Agg Bond Index 0.98 7.36 7.28
Gross expense ratio 1.64%
Net expense ratio 1.63%

(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
INCMX -2.32 2.60 2.75 4.42 120.08
Barc Agg Bond Index 6.98 4.18 3.64 4.59 126.69
Gross expense ratio 1.64%
Net expense ratio 1.63%

(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 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