For Financial Professionals in the US

JVGTX Adaptive Global Allocation Fund

This diversified global allocation fund is informed by views on extreme market movements, both negative and positive

NAV
$9.61
As of 09/22/2023

1-Day Change
$0.00 (0.00%)
As of 09/22/2023

YTD Return
6.42%
As of 09/22/2023

Morningstar Rating

As of 08/31/2023

Overview

ABOUT THIS FUND

This global allocation fund seeks to provide investors total return by dynamically allocating its assets across a portfolio of global equity and fixed income investments, which may involve the use of derivatives for hedging purposes and to enhance returns. The Fund is designed to actively adapt based on forward-looking views on extreme market movements, both positive and negative, with the goal of minimizing the risk of significant loss in a major downturn while participating in the growth potential of capital markets.

WHY INVEST IN THIS FUND

Core Solution
With diversification across global assets and a philosophy concentrated on avoiding large drawdowns while participating in upward-moving markets, the Fund presents a potentially attractive anchor portfolio for an investor.

Looking Past the Average
Market environments are constantly changing and no two time periods will ever deliver the same experience. We embrace this concept and as such, do not use average risk/return measures in our process; rather, our major focus is on the dominant role played by tail risks in compounding returns. They are enhanced most by mitigation of tail losses and participation of tail gains, each period of time.

Adaptive Allocation
We measure both extreme positive and negative movements known as expected tail gain (ETG) and expected tail loss (ETL). Portfolio construction is driven by the ratio of ETG to ETL, while targeting a desired level of portfolio risk with the goal of maximizing terminal value to investors.

PORTFOLIO MANAGEMENT

Ashwin Alankar, Ph.D.

Head of Global Asset Allocation | Portfolio Manager

Industry since 2001. Joined Firm in 2014.

Performance

RETURNS (%) (As of 08/31/2023)
Adaptive Global Allocation Fund - Class T Shares MSCI All Country World IndexSM Adaptive Global Allocation 60/40 Index Bloomberg Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR Since Inception
(06/23/2015)
Adaptive Global Allocation Fund - Class T Shares 3.16 8.53 7.01 4.46 3.75 4.19
MSCI All Country World IndexSM 6.61 14.80 13.95 7.24 7.46 7.62
Adaptive Global Allocation 60/40 Index 3.92 9.98 8.64 3.26 5.11 5.44
Bloomberg Global Aggregate Bond Index -0.15 2.87 0.55 -3.03 0.84 1.61
RETURNS (%) (As of 06/30/2023)
Adaptive Global Allocation Fund - Class T Shares MSCI All Country World IndexSM Adaptive Global Allocation 60/40 Index Bloomberg Global Aggregate Bond Index
 
3M YTD 1YR 3YR 5YR Since Inception
(06/23/2015)
Adaptive Global Allocation Fund - Class T Shares 4.56 9.08 8.84 6.97 4.35 4.34
MSCI All Country World IndexSM 6.18 13.93 16.53 11.00 8.10 7.68
Adaptive Global Allocation 60/40 Index 3.73 9.49 10.09 5.49 5.52 5.50
Bloomberg Global Aggregate Bond Index 0.06 2.96 0.52 -2.88 0.93 1.66
Calendar Year Returns (%)
Adaptive Global Allocation Fund - Class T Shares MSCI All Country World IndexSM
2022 2021 2020 2019 2018 2017 2016
Adaptive Global Allocation Fund - Class T Shares -11.53 8.44 9.14 13.85 -6.38 17.00 5.33
MSCI All Country World IndexSM -18.36 18.54 16.25 26.60 -9.41 23.97 7.86

MORNINGSTAR PERCENTILE

(As Of 06/30/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 33 38 32 - 31
Global Allocation | Rank/Count 135/393 146/387 144/383 -/- 121/347
(As Of 08/31/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 45 44 39 - 34
Global Allocation | Rank / Count 186/393 166/387 181/383 -/- 126/347

RETURNS-BASED STATISTICS (As of 08/31/2023 Class I Shares)

RISK / REWARD
VS. 60% MSCI ACWI Net/40% BB Glb Agg Hedged
3YR 5YR
Information Ratio 0.37 -0.28
Alpha 1.55 -0.59
Tracking Error 3.62 3.85
Beta 0.84 0.85
R-squared (%) 90.99 89.78
UP/DOWN MARKET CAPTURE (%)
VS. 60% MSCI ACWI Net/40% BB Glb Agg Hedged
3YR 5YR
Up Capture Ratio 91.42 85.05
Down Capture Ratio 84.19 91.43
STANDARD DEVIATION 3YR 5YR
Adaptive Global Allocation Fund 10.19 10.45
60% MSCI ACWI Net/40% BB Glb Agg Hedged 11.59 11.71
SHARPE RATIO 3YR 5YR
Adaptive Global Allocation Fund 0.29 0.22
60% MSCI ACWI Net/40% BB Glb Agg Hedged 0.13 0.29
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS T SHARES
Management Fees 0.75%
Other Expenses 0.98%
Total Gross Expenses 1.73%
Waivers -0.78%
Total Net Expenses 0.95%

Portfolio

Index represents the MSCI All Country World Index℠.

Top Holdings (As of 08/31/2023)
% of Fund
Vanguard Intermediate-Term Corporate Bond ETF 0.33
Microsoft Corp 0.17
Vanguard Long-Term Corporate Bond ETF 0.07
Receive Performance on EquityI 08/22/24 0.74
Eurex 30 Year Euro BUXL Future SEP 23 0.76
French Government Bond Futures SEP 23 0.18
OSE Nikkei 225 mini Future SEP 23 4.82
SFE 10 Year Australian Bond Future SEP 23 6.87
SFE S&P ASX Share Price Index 200 Future SEP 23 4.45
FTSE 100 Index Future SEP 23 1.97
Total 20.36
View full holdings

Documents