Fund Evaluator:

MoA Moderate Allocation Fund Overview

MoA Moderate Allocation Fund (MAMOX) is an actively managed Allocation Moderate Allocation fund. Mutual of America launched the fund in 2003.

The investment seeks capital appreciation and current income. The fund invests both in shares of equity and fixed income funds of the Investment Company (“IC Funds”). The IC Funds selected may be actively managed or passively managed or a mix of both. The fund’s target allocation currently is approximately 55% to 65% of net assets in equity IC Funds and approximately 35% to 45% of net assets in fixed income IC Funds.

About MoA Moderate Allocation Fund (MAMOX)

There are 2 members of the management team with an average tenure of 8.76 years: Joseph Gaffoglio (2014), Jamie Zendel (2021). 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 Moderate Allocation Fund has 5 securities in its portfolio. The top 10 holdings constitute 100.0% 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.

MoA Moderate Allocation Fund is part of the Allocation global asset class and is within the Allocation fund group. MoA Moderate Allocation Fund has 16.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 44.3%. There is 16.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 37.2% (37.1% domestic bond, 0.1% foreign bond and 0.0% convertible bond). MoA Moderate Allocation Fund has 1.8% of the portfolio in cash.

Assets Under Management

The fund has $391 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.

MAMOX 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 Moderate Allocation Fund expense ratio is below average compared to funds in the Moderate Allocation category. MoA Moderate Allocation Fund has an expense ratio of 0.38%, which is 62% 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 Moderate Allocation Fund has a portfolio turnover rate of 13%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 52% for the Moderate Allocation category.

Recently, in the month of July 2026, MoA Moderate Allocation Fund returned -0.5%, which earned it a grade of C, as the Moderate Allocation category had an average return of -0.3%. 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.

MoA Moderate Allocation Fund has a trailing yield of 2.35%, which is above the 1.97% 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 Moderate Allocation Fund Grades

Year to date, the fund has returned 6.4%, 0.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 13.7% over the past year (grade of C), 12.3% over the past three years (grade of C) and 7.1% per year over the past five years (grade of B) and 8.6% per year over the past 10 years (grade of C).

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