Fund Evaluator:

Vest US Large Cap 10% Buffer Strats Inv Overview

Vest US Large Cap 10% Buffer Strats Inv (BUMGX) is an actively managed Nontraditional Equity Defined Outcome fund. CBOE Vest launched the fund in 2016.

The investment seeks to provide investors with capital appreciation. Under normal market conditions, the fund will invest at least 80% of the value of its net assets (the “80% Test”) in a portfolio, or other investment companies that hold a portfolio, of FLEX Options linked to the index and that are designed to replicate the returns of the twelve 10% Buffer Strategies. The fund is non-diversified.

About Vest US Large Cap 10% Buffer Strats Inv (BUMGX)

There are 2 members of the management team with an average tenure of 5.60 years: Karan Sood (2016), Trevor Lack (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and CBOE S&P 500 Buffer Protect Balanced USD index with a weighting of 100%. Vest US Large Cap 10% Buffer Strats Inv has 41 securities in its portfolio. The top 10 holdings constitute 104.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Vest US Large Cap 10% Buffer Strats Inv is part of the Equity global asset class and is within the Nontraditional Equity fund group. Vest US Large Cap 10% Buffer Strats Inv has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.5%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Vest US Large Cap 10% Buffer Strats Inv has 0.5% of the portfolio in cash.

Assets Under Management

The fund has $14 million in total assets, which is below the $54 million average for the Defined Outcome 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.

BUMGX 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 Vest US Large Cap 10% Buffer Strats Inv expense ratio is high compared to funds in the Defined Outcome category. Vest US Large Cap 10% Buffer Strats Inv has an expense ratio of 1.20%, which is the same as its category average, making the fund expense ratio grade a C. 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. Vest US Large Cap 10% Buffer Strats Inv has a portfolio turnover rate of 83%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 80% for the Defined Outcome category.

Recently, in the month of June 2026, Vest US Large Cap 10% Buffer Strats Inv returned 0.1%, which earned it a grade of D, as the Defined Outcome category had an average return of 0.2%. 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.

Vest US Large Cap 10% Buffer Strats Inv has a trailing yield of 0.00%, which is above the 0.00% 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.

Vest US Large Cap 10% Buffer Strats Inv Grades

Year to date, the fund has returned 6.4%, 1.2 percentage points better than the category, which translates into a grade of B. The fund has returned 14.4% over the past year (grade of B), 13.0% over the past three years (grade of B) and 8.9% per year over the past five years (grade of B).

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