Fund Evaluator:
MoA Balanced Fund (MACHX)
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Best Performing in Moderate Allocation Over the Last Year
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Fund Details
MoA Balanced Fund Overview
MoA Balanced Fund (MACHX) is an actively managed Allocation Moderate Allocation fund. Mutual of America launched the fund in 1984.
The investment seeks capital appreciation and current income. The fund invests a portion of its assets in equity and in fixed income (including money market) securities, where the portion in each category of securities will vary based on Adviser’s view of current economic and market conditions.
About MoA Balanced Fund (MACHX)
There are 4 members of the management team with an average tenure of 6.89 years: Joseph Gaffoglio (2016), Jamie Zendel (2024), Jacqueline Sabella (2015), Christopher Malfant (2022). 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%. MoA Balanced Fund has 406 securities in its portfolio. The top 10 holdings constitute 25.8% 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.
MoA Balanced Fund is part of the Allocation global asset class and is within the Allocation fund group. MoA Balanced Fund has 0.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 62.2%. 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 33.9% (33.8% domestic bond, 0.2% foreign bond and 0.0% convertible bond). MoA Balanced Fund has 3.9% of the portfolio in cash.
Assets Under Management
The fund has $223 million in total assets, which is below the $2 billion average for the Moderate 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.
MACHX 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 MoA Balanced Fund expense ratio is average compared to funds in the Moderate Allocation category. MoA Balanced Fund has an expense ratio of 0.57%, which is 43% 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. MoA Balanced Fund has a portfolio turnover rate of 30%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 52% for the Moderate Allocation category.
Recently, in the month of August 2026, MoA Balanced Fund returned 2.1%, which earned it a grade of A, as the Moderate Allocation category had an average return of 1.4%. 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.
MoA Balanced Fund has a trailing yield of 1.75%, which is below the 1.95% category average. The fund normally distributes its income monthly.
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.
MoA Balanced Fund Grades
Year to date, the fund has returned 9.8%, 1.8 percentage points better than the category, which translates into a grade of A. The fund has returned 16.6% over the past year (grade of A), 17.2% over the past three years (grade of A) and 10.0% per year over the past five years (grade of A) and 10.5% per year over the past 10 years (grade of A).
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MACHX 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 |
|
| MACHX Return (NAV) | 2.1% | 2.5% | 16.6% | 17.2% | 10.0% | 10.5% |
| MACHX Grade | A | A | A | A | A | A |
| +/- Category | 0.7% | 1.3% | 4.0% | 4.1% | 3.4% | 1.8% |
| Moderate Allocation Avg | 1.4% | 1.2% | 12.6% | 13.1% | 6.6% | 8.6% |
| MACHX Tax Cost Ratio | na | na | 2.9% | 2.4% | 2.1% | 2.4% |
MACHX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MACHX Return (NAV) | 9.8% | 18.8% | 17.6% | 15.1% | -12.0% | 16.4% | 11.8% | 19.4% | -3.2% | 13.4% | 7.9% |
| MACHX Grade | A | A | A | C | B | B | C | D | A | D | B |
| +/- Category | 1.8% | 5.4% | 5.3% | 0.8% | 2.0% | 2.0% | -1.2% | -0.5% | 1.9% | -0.4% | 0.2% |
| Moderate Allocation Avg | 8.0% | 13.4% | 12.2% | 14.3% | -14.0% | 14.4% | 12.9% | 19.8% | -5.1% | 13.8% | 7.7% |
| Risk Measures | |
| Standard Deviation: | 8.7% |
| Total Risk Index: | 0.72 - Below Average |
| Category Risk Index: | 0.96 - Below Average |
| Category Risk Grade: | B (29% Rank) |
| Beta: | 0.88 |
| R-Squared: | 85% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 1.8% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $223 Mil |
| Fund Total Assets: | $ 223 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 31% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 10.7 years | |||
| Average Tenure: 6.9 years | |||
| Managers (Year): Sabella Jacqueline (2015), Gaffoglio Joseph (2016), Malfant Christopher (2022), Zendel Jamie (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 406 |
| % in Top 10 Holdings: | 25.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.2% |
Portfolio Allocation |
|
| Domestic Stock: | 62.2% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 33.8% |
| Foreign Bond: | 0.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.9% |
Purchase Information
| Fund Family: | Mutual of America |
| Phone Number: | 800-468-3785 |
| Website: | www.mutualofamerica.com |
| Status: | Open |
| Inception Date: | December 31, 1984 |
| Min. Initial Purchase: | $1,000 |
| 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 (%): | 0.57% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | MoA Balanced Fund |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
