Morningstar Income and Growth ETF Asset Allocation Portfolio
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$10.69
$10.4 M
1.94%
$0.21
0.92%
Vitals
YTD Return
8.5%
1 yr return
13.5%
3 Yr Avg Return
1.7%
5 Yr Avg Return
4.2%
Net Assets
$10.4 M
Holdings in Top 10
80.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.92%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 16.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$10.69
$10.4 M
1.94%
$0.21
0.92%
IETFX - Profile
Distributions
- YTD Total Return 8.5%
- 3 Yr Annualized Total Return 1.7%
- 5 Yr Annualized Total Return 4.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.43%
- Dividend Yield 1.9%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameMorningstar Income and Growth ETF Asset Allocation Portfolio
-
Fund Family NameALPS
-
Inception DateMay 02, 2013
-
Shares Outstanding5245807
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJared Watts
Fund Description
The Portfolio invests, under normal circumstances, at least 80% of its net assets plus the amount of any borrowings for investment purposes, in securities of exchange-traded funds (each, an “Underlying ETF” and collectively, the “Underlying ETFs”). The Portfolio will notify you in writing at least 60 days before making any changes to this policy. For the purposes of this 80% investment policy, net assets are measured at the time of purchase. The Portfolio is a “Fund-of-Funds” and seeks to achieve its investment objective by investing primarily in a portfolio of Underlying ETFs. Each Underlying ETF, in turn, in an attempt to approximate the investment performance of its benchmark, invests in a variety of U.S. and foreign equity, debt, commodities, money market securities, futures, and other
instruments. The investment policies of the various Underlying ETFs are described generally in the section called “Information about the Underlying ETFs” in this Prospectus.
The Portfolio typically expects to allocate its investments in Underlying ETFs such that 60% of such allocation is invested in Underlying ETFs that invest primarily in fixed-income securities and money market instruments (“Fixed-Income Underlying ETFs”) and approximately 40% of such allocation is invested in Underlying ETFs that invest primarily in equity securities of large, medium and small sized companies, and may include other investments such as commodities and commodity futures (“Non-Fixed Income Underlying ETFs”). However, under normal market conditions, the Portfolio may from time to time invest approximately 45-75% of such allocation in Fixed-Income Underlying ETFs and 25-55% of such allocation in Non-Fixed Income Underlying ETFs.
IETFX - Performance
Return Ranking - Trailing
| Period | IETFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.5% | 3.9% | 18.2% | 34.56% |
| 1 Yr | 13.5% | 8.0% | 24.9% | 49.51% |
| 3 Yr | 1.7%* | -15.6% | 5.3% | 27.61% |
| 5 Yr | 4.2%* | -0.8% | 8.1% | 55.68% |
| 10 Yr | 1.2%* | 1.2% | 7.5% | 100.00% |
* Annualized
Return Ranking - Calendar
| Period | IETFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.2% | -1.0% | 27.4% | 37.50% |
| 2022 | -18.0% | -35.0% | -7.4% | 67.49% |
| 2021 | 1.7% | -11.5% | 14.6% | 53.18% |
| 2020 | 5.1% | -10.3% | 40.7% | 51.48% |
| 2019 | 8.0% | -9.5% | 22.1% | 77.29% |
Total Return Ranking - Trailing
| Period | IETFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.5% | 3.9% | 18.2% | 34.56% |
| 1 Yr | 13.5% | 8.0% | 24.9% | 49.51% |
| 3 Yr | 1.7%* | -15.6% | 5.3% | 27.61% |
| 5 Yr | 4.2%* | -0.8% | 8.1% | 55.68% |
| 10 Yr | 1.2%* | 1.2% | 7.5% | 100.00% |
* Annualized
Total Return Ranking - Calendar
| Period | IETFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.6% | 2.6% | 28.2% | 42.16% |
| 2022 | -12.5% | -35.0% | -3.1% | 38.96% |
| 2021 | 6.5% | -11.5% | 32.0% | 74.55% |
| 2020 | 8.3% | -5.4% | 40.7% | 60.11% |
| 2019 | 12.7% | 4.5% | 27.7% | 84.21% |
NAV & Total Return History
IETFX - Holdings
Concentration Analysis
| IETFX | Category Low | Category High | IETFX % Rank | |
|---|---|---|---|---|
| Net Assets | 10.4 M | 305 K | 50.8 B | 96.82% |
| Number of Holdings | 20 | 2 | 4065 | 66.75% |
| Net Assets in Top 10 | 41.1 M | 284 K | 10.3 B | 89.49% |
| Weighting of Top 10 | 80.52% | 9.7% | 111.4% | 46.45% |
Top 10 Holdings
- Vanguard Total Bond Market ETF 25.04%
- Vanguard Total Stock Market ETF 11.97%
- Vanguard Short-Term Bond ETF 10.50%
- iShares Core SP 500 ETF 8.00%
- Vanguard Total International Bond ETF 4.98%
- Vanguard Mortgage-Backed Securities ETF 4.55%
- Schwab Fundamental International Equity ETF 4.37%
- iShares SP 100 ETF 4.11%
- SPDR Portfolio Intermediate Term Corporate Bond ETF 3.51%
- iShares Broad USD High Yield Corporate Bond ETF 3.50%
Asset Allocation
| Weighting | Return Low | Return High | IETFX % Rank | |
|---|---|---|---|---|
| Stocks | 97.99% | 0.00% | 100.08% | 42.54% |
| Cash | 2.01% | -35.68% | 25.19% | 44.01% |
| Convertible Bonds | 0.65% | 0.00% | 71.77% | 69.38% |
| Preferred Stocks | 0.00% | 0.00% | 21.95% | 74.57% |
| Other | 0.00% | -0.45% | 61.72% | 74.82% |
| Bonds | 0.00% | 0.00% | 79.72% | 80.20% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | IETFX % Rank | |
|---|---|---|---|---|
| Financial Services | 17.75% | 0.00% | 83.50% | 13.18% |
| Technology | 14.45% | 0.22% | 27.92% | 60.45% |
| Industrials | 11.95% | 0.14% | 17.90% | 20.15% |
| Healthcare | 10.88% | 0.00% | 24.25% | 85.32% |
| Consumer Cyclical | 10.05% | 0.00% | 14.20% | 45.27% |
| Consumer Defense | 9.57% | 0.00% | 18.62% | 28.86% |
| Energy | 6.06% | 0.00% | 62.93% | 28.36% |
| Communication Services | 5.60% | 0.00% | 11.11% | 71.64% |
| Basic Materials | 5.40% | 0.00% | 32.82% | 14.93% |
| Real Estate | 4.66% | 0.00% | 43.16% | 54.48% |
| Utilities | 3.61% | 0.00% | 48.33% | 44.78% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | IETFX % Rank | |
|---|---|---|---|---|
| US | 97.99% | 0.00% | 100.08% | 42.54% |
| Non US | 0.00% | 0.00% | 23.24% | 76.77% |
IETFX - Expenses
Operational Fees
| IETFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.92% | 0.06% | 21.26% | 49.63% |
| Management Fee | 0.45% | 0.00% | 1.25% | 64.46% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 42.86% |
| Administrative Fee | N/A | 0.01% | 0.70% | N/A |
Sales Fees
| IETFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| IETFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| IETFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 16.00% | 2.00% | 380.00% | 17.91% |
IETFX - Distributions
Dividend Yield Analysis
| IETFX | Category Low | Category High | IETFX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.94% | 0.00% | 7.99% | 99.27% |
Dividend Distribution Analysis
| IETFX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Monthly | Annual |
Net Income Ratio Analysis
| IETFX | Category Low | Category High | IETFX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.43% | -1.22% | 6.83% | 65.26% |
Capital Gain Distribution Analysis
| IETFX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 07, 2023 | $0.207 | OrdinaryDividend |
| Dec 07, 2023 | $0.096 | CapitalGainLongTerm |
| Dec 07, 2022 | $0.178 | OrdinaryDividend |
| Dec 07, 2022 | $0.068 | CapitalGainShortTerm |
| Dec 07, 2022 | $0.378 | CapitalGainLongTerm |
| Dec 07, 2021 | $0.164 | OrdinaryDividend |
| Dec 07, 2021 | $0.356 | CapitalGainLongTerm |
| Dec 07, 2020 | $0.225 | OrdinaryDividend |
| Dec 07, 2020 | $0.004 | CapitalGainShortTerm |
| Dec 07, 2020 | $0.122 | CapitalGainLongTerm |
| Dec 08, 2019 | $0.220 | OrdinaryDividend |
| Dec 08, 2019 | $0.003 | CapitalGainShortTerm |
| Dec 08, 2019 | $0.243 | CapitalGainLongTerm |
IETFX - Fund Manager Analysis
Managers
Jared Watts
Start Date
Tenure
Tenure Rank
Apr 30, 2007
15.1
15.1%
Jared Watts, Portfolio Manager. Mr. Watts joined Morningstar Investment Management in 2006. His responsibilities include the management of fund-of-funds clients across multiple financial intermediary segments. Mr. Watts helps develop and manage multiple asset allocation solutions and strategies. In addition to conducting fund research, Mr. Watts helps lead the research and implementation efforts on exchange-traded products for Morningstar’s Investment Management group. Prior to joining Morningstar, Mr. Watts was an Investment Manager at Allstate Financial, where he helped manage fund relationships, asset allocation efforts, and investment product research. Prior to Allstate, Mr. Watts was at A.G. Edwards, where he conducted mutual fund and stock research. Mr. Watts holds a bachelor’s degree in finance from Southern Illinois University and a master’s degree in business administration, with honors, from Saint Xavier University, Graham School of Management with concentrations in portfolio management and financial analysis.
Steve Tagarov
Start Date
Tenure
Tenure Rank
Dec 18, 2019
2.45
2.5%
Steve Tagarov, CFA, Senior Investment Analyst: Mr. Tagarov joined Morningstar Investment Management in 2015. His responsibilities include supporting Target Risk Strategies, conducting manager research, manager due diligence, and he is a member of the Global Sectors team. Mr. Tagarov started his investment career since 2006. Prior to joining Morningstar Investment Management, Mr. Tagarov was a Senior Investment Consultant at Aon Hewitt Investment Consulting. Mr. Tagarov is a chartered financial analyst, he holds a bachelor’s degree from Augustana College and he’s currently an MBA candidate at the University of Chicago Booth school of business.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 28.73 | 6.38 | 2.41 |