Fund Evaluator:
Elfun Diversified (ELDFX)
Follow This Fund
Best Performing in Global Aggressive Allocation Over the Last Year
| 23.3% | Fidelity Advisor Asset Manager 85% Z (FIQCX) |
| 23.2% | TOPS® Aggressive ETF 2 () |
| 23.2% | Fidelity Asset Manager 85% (FAMRX) |
| 20.6% | Invesco Select Risk: High Growth Inv Y (OYAIX) |
| 18.4% | Goldman Sachs Growth Allocation Inv (GGSTX) |
Fund Details
Elfun Diversified Overview
Elfun Diversified (ELDFX) is an actively managed Allocation Global Aggressive Allocation fund. State Street Investment Management launched the fund in 1988.
The investment seeks the highest total return consistent with prudent investment management and the preservation of capital. The fund's investments in U.S. equity securities (also referred to as domestic equity investments) are achieved primarily through a “passive” or “indexing” investment approach of investing all or substantially all of its assets allocated to domestic equity investments directly in the securities that constitute the S&P 500® Index. The S&P 500 is a well-known stock market index that includes common stocks of 500 companies from a number of sectors and that measures the performance of the large-cap sector of the U.S. equities market.
About Elfun Diversified (ELDFX)
There are 3 members of the management team with an average tenure of 6.87 years: Leo Law (2019), Seamus Quinn (2019), Michael Martel (2019). 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 Bloomberg US Agg Bond TR USD index with a weighting of 100%. Elfun Diversified has 508 securities in its portfolio. The top 10 holdings constitute 57.0% 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.
Elfun Diversified is part of the Allocation global asset class and is within the Allocation fund group. Elfun Diversified has 32.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 66.3%. There is 32.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.1% (0.1% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Elfun Diversified has 0.7% of the portfolio in cash.
Assets Under Management
The fund has $189 million in total assets, which is below the $330 million average for the Global 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.
ELDFX 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 Elfun Diversified expense ratio is below average compared to funds in the Global Aggressive Allocation category. Elfun Diversified has an expense ratio of 0.34%, which is 67% 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. Elfun Diversified has a portfolio turnover rate of 43%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 30% for the Global Aggressive Allocation category.
Recently, in the month of August 2026, Elfun Diversified returned 1.9%, which earned it a grade of D, as the Global Aggressive Allocation category had an average return of 2.3%. 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.
Elfun Diversified has a trailing yield of 2.46%, which is above the 1.34% 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.
Elfun Diversified Grades
Year to date, the fund has returned 8.4%, 4.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 14.1% over the past year (grade of F), 14.3% over the past three years (grade of F) and 7.1% per year over the past five years (grade of F) and 8.6% per year over the past 10 years (grade of F).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Elfun Diversified, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
ELDFX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ELDFX Return (NAV) | 1.9% | 0.8% | 14.1% | 14.3% | 7.1% | 8.6% |
| ELDFX Grade | D | F | F | F | F | F |
| +/- Category | -0.4% | -0.8% | -5.0% | -3.2% | -1.1% | -2.4% |
| Global Aggressive Allocation Avg | 2.3% | 1.7% | 19.2% | 17.6% | 8.2% | 11.0% |
| ELDFX Tax Cost Ratio | na | na | 2.2% | 1.7% | 1.9% | 1.8% |
ELDFX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ELDFX Return (NAV) | 8.4% | 17.1% | 11.6% | 16.1% | -15.3% | 11.6% | 12.2% | 19.6% | -5.5% | 15.4% | 5.5% |
| ELDFX Grade | F | D | F | F | A | F | F | F | A | F | D |
| +/- Category | -4.6% | -1.3% | -3.1% | -2.5% | 3.5% | -5.2% | -5.8% | -5.9% | 4.8% | -7.9% | -1.7% |
| Global Aggressive Allocation Avg | 13.0% | 18.4% | 14.7% | 18.6% | -18.8% | 16.8% | 18.0% | 25.5% | -10.3% | 23.3% | 7.2% |
| Risk Measures | |
| Standard Deviation: | 9.1% |
| Total Risk Index: | 0.75 - Below Average |
| Category Risk Index: | 0.73 - Low |
| Category Risk Grade: | A (1% Rank) |
| Beta: | 0.97 |
| R-Squared: | 97% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.5% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $189 Mil |
| Fund Total Assets: | $ 190 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 43% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 6.9 years | |||
| Average Tenure: 6.9 years | |||
| Managers (Year): Law Leo (2019), Quinn Seamus (2019), Martel Michael (2019) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 508 |
| % in Top 10 Holdings: | 57.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 32.9% |
Portfolio Allocation |
|
| Domestic Stock: | 66.3% |
| Foreign Stock: | 32.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.1% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.7% |
Purchase Information
| Fund Family: | State Street Investment Management |
| Phone Number: | 800-242-0134 |
| Website: | www.geam.com |
| Status: | Open |
| Inception Date: | January 4, 1988 |
| Min. Initial Purchase: | $ 500 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.34% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 1.02% |
| Share Class: | Elfun Diversified |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
