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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 06/30/2018

Vanguard Wellesley Inc Admiral
VWIAX
10.30
Osterweis Strategic Inc
OSTIX
10.10
AmBeacon SP Floating Rate Y
SPFYX
9.80
Eaton Vance Float Rate Advantage
EIFAX
9.00
Ivy High Income Instl
IVHIX
8.90
Fidelity Capital & Income
FAGIX
8.10
Permanent Portfolio
PRPFX
8.00
Fidelity FloatingR Hi Inc
FFRHX
7.90
Thompson Bond
THOPX
6.50
Vanguard Total Intl Bond ETF
BNDX
5.50
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Eaton Vance Float Rate Inst
EIBLX
5.30
Merger Fund I
MERIX
5.30
SPDR Barclays Glb Treas Ex-U.S.
BWX
4.80
Cash
CASH
0.30
Aberdeen Global High Inc
JHYIX
0.20

Fixed Income Allocation

as of 06/30/2018

Floating Rate
32.00%
Low Volatility Equity
23.60%
High Yield Bonds
17.20%
Strategic Bonds
16.60%
World Bonds
10.30%

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.

This chart illustrates the performance of a hypothetical $10,000 investment made in the Fund for the period ending 06/30/2018. 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 06/30/2018 1 Mo YTD 1 Yr
INCMX 0.00 -0.91 1.72
Barc Agg Bond Index -0.12 -1.62 -0.40
Gross expense ratio 1.69%
Net expense ratio 1.65%

(includes underlying fund expenses)
The advisor has contractually agreed to a fee waiver through January 31, 2019.

Quarter End
Performance % to 06/30/2018 1 Yr 5 Yrs 10 Yrs Annualized Cumulative
INCMX 1.72 3.24 3.91 4.89 114.75
Barc Agg Bond Index -0.40 2.27 3.72 4.16 92.07
Gross expense ratio 1.69%
Net expense ratio 1.65%

(includes underlying fund expenses)
The advisor has contractually agreed to a fee waiver through January 31, 2019.

Top holdings

as of 06/30/2018

Vanguard Wellesley Inc Admiral
VWIAX
10.30
Osterweis Strategic Inc
OSTIX
10.10
AmBeacon SP Floating Rate Y
SPFYX
9.80
Eaton Vance Float Rate Advantage
EIFAX
9.00
Ivy High Income Instl
IVHIX
8.90
Fidelity Capital & Income
FAGIX
8.10
Permanent Portfolio
PRPFX
8.00
Fidelity FloatingR Hi Inc
FFRHX
7.90
Thompson Bond
THOPX
6.50
Vanguard Total Intl Bond ETF
BNDX
5.50
Eaton Vance Float Rate Inst
EIBLX
5.30
Merger Fund I
MERIX
5.30
SPDR Barclays Glb Treas Ex-U.S.
BWX
4.80
Cash
CASH
0.30
Aberdeen Global High Inc
JHYIX
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.

Fixed Income Allocation

as of 06/30/2018

Floating Rate
32.00%
Low Volatility Equity
23.60%
High Yield Bonds
17.20%
Strategic Bonds
16.60%
World Bonds
10.30%
Month End
Performance % to 06/30/2018 1 Mo YTD 1 Yr
INCMX 0.00 -0.91 1.72
Barc Agg Bond Index -0.12 -1.62 -0.40
Gross expense ratio 1.69%
Net expense ratio 1.65%

(includes underlying fund expenses)
The advisor has contractually agreed to a fee waiver through January 31, 2019.

Quarter End
Performance % to 06/30/2018 1 Yr 5 Yrs 10 Yrs Annualized Cumulative
INCMX 1.72 3.24 3.91 4.89 114.75
Barc Agg Bond Index -0.40 2.27 3.72 4.16 92.07
Gross expense ratio 1.69%
Net expense ratio 1.65%

(includes underlying fund expenses)
The advisor has contractually agreed to a fee waiver through January 31, 2019.

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. Performance data quoted is current to the most recent month end. Returns shown are cumulative, unless otherwise noted.

The Bloomberg Barclay's 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