The Value Line Aggressive Income Trust changed its name to Value Line Core Bond Fund and its primary strategy effective December 10, 2012. All data below prior to December 10, 2012 reflects the old strategy.
Daily Price Change as of 07/29/14
|Change ($/%)||0.01 / 0.20|
Fund Details as of 06/30/14
|Manager||Liane Rosenberg/Jeff Geffen|
|Inception Date||February 26, 1986|
Morningstar as of 06/30/14
|of 142 Funds|
|of 117 Funds|
|of 78 Funds|
|of 142 Funds|
Portfolio Statistics (3 Yr.)
as of 06/30/14
Valuation as of 06/30/14
Fees & Expenses as of 12/31/13
|Max Mgmt Fee||0.50%|
|Expense Ratio Before Waivers||1.30%|
|Expense Ratio After Waivers*||1.15%|
|Minimum Initial Investment||$1,000|
|Minimum Subsequent Investment||$250|
|Best 3 Mo. Period
(last 10 years)
|Worst 3 Mo. Period
(last 10 years)
Portfolio Composition as of 06/30/14
Investment Objective and Strategy (Condensed)
The investment objective of the Fund is to maximize current income. Capital appreciation is a secondary objective but only when consistent with the Fund’s primary objective.
The Fund invests primarily in a diversified portfolio of primarily investment grade, fixed income obligations, including securities issued or guaranteed by the U.S. government, its agencies or instrumentalities (U.S. government securities), mortgage-backed securities, asset-backed securities, corporate bonds, and other fixed income securities. Under normal circumstances, the Fund invests at least 80% of its assets in fixed income securities. The Fund invests in debt securities of any maturity, and there is no limit on the Fund’s maximum average portfolio maturity.
Average Annual Returns as of 06/30/14
Gross / Net Expense Ratio:1.30%/1.15%* (as of 12/31/13)
Calendar Year Returns (10 Yrs) as of 06/30/14
|Core Bond Fund||10.30||1.79||8.91||3.65||-21.55||40.33||10.64||4.60||11.29||-3.16%||3.51%|
|Barclays US Aggregate Bond Index||4.34||2.43||4.33||6.97||5.24||5.93||6.54||7.84||4.22||-2.02%||3.93%|
Top Ten Holdings as of 06/30/14
|Company Name||Market Value||Weight (%)||Sector|
|PNC Funding Corp.||$571,136||0.68||Financials|
|American Int'l Group, Inc. MTN||$570,791||0.68||Financials|
|BlackRock, Inc., Series 2||$570,710||0.68||Financials|
|Mosaic Co. (The)||$560,268||0.67||Materials|
|D.R. Horton, Inc.||$541,250||0.65||Consumer Discretionary|
|MetroPCS Wireless, Inc.||$533,750||0.64||Telecommunication Services|
|Comcast Corp.||$513,617||0.62||Telecommunication Services|
|Santander Holdings USA, Inc.||$513,568||0.62||Financials|
Sector Distribution as of 06/30/14
Statistical measure that shows the likelihood of an investment to yield above- or below-average returns over a period of time. For example, if hypothetical XYZ Fund has an average annual total return of 11% and a standard deviation of 6.00, that means XYZ Fund's performance is likely to vary from a low of 5% to a high of 17%.
Beta Equation (Stocks)
Beta of a portfolio is a number describing the correlated volatility of the portfolio in relation to the volatility of the benchmark. A positive beta means that the portfolio generally follows the benchmark. A negative beta means that the portfolio generally moves opposite the benchmark.
The measure of diversification that determines how closely a particular fund's performance parallels an appropriate market benchmark over a period. The market is understood to have an R Squared of 100%. Therefore, a fund with an R Squared of 95% contains 95% of the market's diversification and risk. The remaining 5% is unique to the fund manager's actions.
A statistical expression calculated by dividing a fund's excess return by the standard deviation of those returns that measures the relative reward of holding onto risky investments. The higher the ratio, the greater the potential for return for the same amount of risk. The lower the ratio, the worse the fund's historical risk-adjusted performance.
A measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the fund relative to the return of the benchmark index is a fund's alpha
A ratio of portfolio returns above the returns of a benchmark to the volatility of those returns. The information ratio measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor.
A divergence between the price behavior of the portfolio and the price behavior of a benchmark, reported as a "standard deviation percentage" difference. This measure reports the difference between the return an investor receives and that of the benchmark he or she was attempting to imitate.
The Morningstar Rating™ for funds methodology rates funds based on an enhanced Morningstar Risk-Adjusted Return measure, which also accounts for the effects of all sales charges, loads, or redemption fees. Funds are ranked by their Morningstar Risk-Adjusted Return scores and stars are assigned using the following scale: 5 stars for top 10%; 4 stars next 22.5%; 3 stars next 35%; 2 stars next 22.5%; 1 star for bottom 10%. Funds are rated for up to three periods: the trailing three-, five-, and 10-years. For a fund that does not change categories during the evaluation period, the overall rating is calculated using the following weights: At least 3 years, but less than 5 years uses 100% three-year rating. At least 5 years but less than 10 years uses 60% five-year rating / 40% three-year rating. At least 10 years uses 50% ten-year rating / 30% five-year rating / 20% three-year rating.
*Effective Feb. 1, 2013, your Fund's Management Fee rate will be permanently reduced so that the Mgmt Fee rate is 0.50% on all the Fund's average daily net assets. Also effective Feb. 1, 2013, your Fund's Mgmt Fee rate will be further reduced by waiving 0.10% of the Mgmt Fee. This further reduction is effective through June 30, 2014 and cannot be changed or terminated during this period unless approved by your Fund's board and investment adviser, EULAV Asset Management (the "Adviser"). After giving effect to both the permanent and non-permanent waivers, your Fund's Mgmt Fee rate will be 0.40% of your Fund's average daily net assets. Also effective Feb. 1, 2013, your Fund's Rule 12b-1 Fee will be charged at a rate of 0.20% of your Fund's average daily net assets after giving effect to a waiver equal to 0.05% of your Fund's average daily net assets. This waiver is effective through June 30, 2014 and cannot be changed or terminated during this period unless approved by your Fund's board and principal underwriter, EULAV Securities LLC (the "Distributor"). The Fund's performance would be lower in the absence of such waivers.
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.
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.