Managed Risk Growth-Income Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Managed Risk Growth-Income Fund held 19 positions with $2.09B in net assets. Its ten largest holdings made up 99.7% of the fund. Its share classes cost 0.63%–0.88% a year. Over the 12 months to May 2026, it returned 20.4%, with dividends reinvested. In 2026 Q2 it added 11 new positions and exited 15.
The funds investment objectives are to achieve long-term growth of capital and income while seeking to manage volatility and provide downside protection.
The fund invests in shares of two underlying funds: an equity-focused growth-income fund (normally 80% of assets) and a bond fund (the remainder), while a subadviser employs exchange-traded put options and futures contracts on equity indexes to manage volatility around a target level and seek downside protection. The subadviser adjusts these hedging instruments regularly, using them more heavily during periods of extreme market volatility and maintaining put option positions even when equity volatility is low. Because the fund's net risk exposure depends on the subadviser's ongoing selection and adjustment of these derivatives, actual downside protection and volatility management may vary with market conditions and the effectiveness of the hedging strategy.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
AFIS GROWTH-INCOME FUND | 80.03% | $1.67B | 23.9M | $69.82 |
AMERICAN FUNDS INSURANCE SERIES - THE BOND FUND OF AMERICA | 16.64% | $347.24M | 36.6M | $9.50 |
State Street Institutional U.S. Government Money Market Fund - Premier Class | 2.55% | $53.31M | — | — |
SPX US 12/18/26 P5225 | 0.20% | $4.23M | — | — |
SPX US 09/18/26 P4750 | 0.10% | $2.20M | — | — |
S&P500 EMINI FUT SEP26 | 0.06% | $1.18M | — | — |
SPX US 12/18/26 P5100 | 0.03% | $0.68M | — | — |
SPX US 12/18/26 P5125 | 0.02% | $0.43M | — | — |
SPX US 12/18/26 P4850 | 0.02% | $0.36M | — | — |
SPX US 12/18/26 P5175 | 0.01% | $0.24M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 19 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 96.67% |
| Cash & short-term | 2.55% |
| Derivatives | 0.50% |
Derivatives are shown at market value, not notional exposure.
How it has done
C000126060 share class · total returns with dividends reinvested
Volatility over the last 12 months: 10.80%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Fees & fund details
Managed Risk Growth-Income Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
- Expense ratio, by class
- 0.63% – 0.88%
- Portfolio turnover
- 29.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
11 new· the largest 8
15 exited· the largest 8
Understand how this fund fits with the rest.
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