Fund Evaluator:
Bruce (BRUFX)
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Best Performing in Moderately Aggressive Allocation Over the Last Year
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Fund Details
Bruce Overview
Bruce (BRUFX) is an actively managed Allocation Moderately Aggressive Allocation fund. Bruce launched the fund in 1968.
The investment seeks long-term capital appreciation. The fund invests primarily in domestic common stocks and bonds, including convertible bonds and "zero coupon" government bonds. The fund may invest, without restriction, in future interest and principal of U.S. government securities, commonly known as "zero coupon" bonds.
About Bruce (BRUFX)
There are 1 members of the management team with an average tenure of 42.53 years: R. Bruce (1983). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Bruce has 43 securities in its portfolio. The top 10 holdings constitute 56.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Bruce is part of the Allocation global asset class and is within the Allocation fund group. Bruce has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 88.4%. There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 4.0% (4.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Bruce has 7.0% of the portfolio in cash.
Assets Under Management
The fund has $375 million in total assets, which is below the $545 million average for the Moderately Aggressive Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BRUFX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Bruce expense ratio is above average compared to funds in the Moderately Aggressive Allocation category. Bruce has an expense ratio of 0.64%, which is 37% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Bruce has a portfolio turnover rate of 11%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 34% for the Moderately Aggressive Allocation category.
Recently, in the month of June 2026, Bruce returned 4.0%, which earned it a grade of A, as the Moderately Aggressive Allocation category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Bruce has a trailing yield of 2.18%, which is above the 1.55% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Bruce Grades
Year to date, the fund has returned 15.2%, 5.0 percentage points better than the category, which translates into a grade of A. The fund has returned 27.7% over the past year (grade of A), 12.5% over the past three years (grade of F) and 6.1% per year over the past five years (grade of F) and 7.7% per year over the past 10 years (grade of F).
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BRUFX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BRUFX Return (NAV) | 4.0% | 7.1% | 27.7% | 12.5% | 6.1% | 7.7% |
| BRUFX Grade | A | F | A | F | F | F |
| +/- Category | 3.5% | -4.5% | 7.6% | -3.9% | -2.9% | -2.9% |
| Moderately Aggressive Allocation Avg | 0.5% | 11.6% | 20.1% | 16.4% | 8.9% | 10.6% |
| BRUFX Tax Cost Ratio | na | na | 1.9% | 1.8% | 2.5% | 1.9% |
BRUFX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BRUFX Return (NAV) | 15.2% | 14.9% | 4.6% | -0.7% | -8.8% | 17.4% | 12.0% | 22.4% | -4.0% | 12.5% | 4.1% |
| BRUFX Grade | A | D | F | F | A | B | D | C | A | F | F |
| +/- Category | 5.0% | -1.1% | -11.1% | -17.4% | 7.1% | -0.6% | -1.1% | -0.2% | 3.1% | -4.8% | -5.1% |
| Moderately Aggressive Allocation Avg | 10.2% | 16.0% | 15.7% | 16.6% | -15.8% | 18.0% | 13.1% | 22.6% | -7.1% | 17.3% | 9.1% |
| Risk Measures | |
| Standard Deviation: | 9.3% |
| Total Risk Index: | 0.77 - Below Average |
| Category Risk Index: | 0.84 - Low |
| Category Risk Grade: | A (5% Rank) |
| Beta: | 0.73 |
| R-Squared: | 53% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $375 Mil |
| Fund Total Assets: | $ 376 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 11% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 42.5 years | |||
| Average Tenure: 42.5 years | |||
| Managers (Year): Bruce R. (1983) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 43 |
| % in Top 10 Holdings: | 56.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 88.4% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 4.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 7.0% |
Purchase Information
| Fund Family: | Bruce |
| Phone Number: | 800-872-7823 |
| Website: | www.thebrucefund.com |
| Status: | Open |
| Inception Date: | March 20, 1968 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.64% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.02% |
| Share Class: | Bruce |
| Min. Subsequent Purchase: | $ 500 |
| Min. Subsequent IRA Purchase: | $ 0 |
