Fund Evaluator:
MH Elite Fund of Funds (MHEFX)
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Best Performing in Aggressive Allocation Over the Last Year
| 38.1% | MH Elite Small Cap Fund of Funds (MHELX) |
| 23.7% | Aristotle Portfolio OptimizationAgrGrI-2 (POEDX) |
| 21.1% | Thrivent Aggressive Allocation S (TAAIX) |
| 18.0% | Sound Mind Investing (SMIFX) |
| 16.5% | MH Elite Fund of Funds (MHEFX) |
Fund Details
MH Elite Fund of Funds Overview
MH Elite Fund of Funds (MHEFX) is an actively managed Allocation Aggressive Allocation fund. MH Elite launched the fund in 2004.
The investment seeks long term capital appreciation. The fund seeks to achieve its investment objective by investing at least 80% of its total assets in 12 to 25 unaffiliated open-end mutual funds (underlying funds) which, in turn, invest principally in common stocks of mid and large-capitalization companies. The fund’s adviser will emphasize funds that invest in companies whose market capitalization is greater than $2 billion. Mid-cap companies typically have a market cap between $2 billion and $10 billion.
About MH Elite Fund of Funds (MHEFX)
There are 1 members of the management team with an average tenure of 22.48 years: Harvey Merson (2004). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Morningstar US LM Cap Mkt TR USD index with a weighting of 100%. MH Elite Fund of Funds has 16 securities in its portfolio. The top 10 holdings constitute 77.2% 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.
MH Elite Fund of Funds is part of the Allocation global asset class and is within the Allocation fund group. MH Elite Fund of Funds has 2.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.1%. There is 2.7% 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). MH Elite Fund of Funds has 4.0% of the portfolio in cash.
Assets Under Management
The fund has $30 million in total assets, which is below the $549 million average for the 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.
MHEFX 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 MH Elite Fund of Funds expense ratio is high compared to funds in the Aggressive Allocation category. MH Elite Fund of Funds has an expense ratio of 1.84%, which is 61% higher than its category average, making the fund expense ratio grade a F. 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. MH Elite Fund of Funds has a portfolio turnover rate of 22%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 47% for the Aggressive Allocation category.
Recently, in the month of June 2026, MH Elite Fund of Funds returned -0.5%, which earned it a grade of F, as the 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.
MH Elite Fund of Funds has a trailing yield of 0.00%, which is below the 0.95% 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.
MH Elite Fund of Funds Grades
Year to date, the fund has returned 7.8%, 1.5 percentage points worse than the category, which translates into a grade of D. The fund has returned 16.5% over the past year (grade of D), 16.1% over the past three years (grade of C) and 7.8% per year over the past five years (grade of D) and 11.4% per year over the past 10 years (grade of C).
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MHEFX 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 |
|
| MHEFX Return (NAV) | -0.5% | 13.2% | 16.5% | 16.1% | 7.8% | 11.4% |
| MHEFX Grade | F | C | D | C | D | C |
| +/- Category | -1.0% | 0.3% | -1.7% | 0.1% | -0.3% | 0.4% |
| Aggressive Allocation Avg | 0.5% | 12.8% | 18.2% | 16.0% | 8.0% | 11.0% |
| MHEFX Tax Cost Ratio | na | na | 1.7% | 1.7% | 1.5% | 1.2% |
MHEFX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MHEFX Return (NAV) | 7.8% | 14.2% | 18.6% | 19.1% | -20.6% | 19.6% | 19.9% | 25.2% | -8.1% | 20.4% | 7.0% |
| MHEFX Grade | D | D | B | C | C | B | C | D | C | C | D |
| +/- Category | -1.5% | -0.9% | 2.9% | -1.4% | -0.9% | 0.5% | 2.2% | -0.6% | 0.8% | 0.2% | -1.3% |
| Aggressive Allocation Avg | 9.3% | 15.2% | 15.7% | 20.5% | -19.7% | 19.1% | 17.7% | 25.8% | -9.0% | 20.3% | 8.3% |
| Risk Measures | |
| Standard Deviation: | 12.0% |
| Total Risk Index: | 0.98 - Average |
| Category Risk Index: | 0.91 - Below Average |
| Category Risk Grade: | B (24% Rank) |
| Beta: | 1.12 |
| R-Squared: | 76% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $30 Mil |
| Fund Total Assets: | $ 31 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 22% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 22.5 years | |||
| Average Tenure: 22.5 years | |||
| Managers (Year): Merson Harvey (2004) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 16 |
| % in Top 10 Holdings: | 77.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.7% |
Portfolio Allocation |
|
| Domestic Stock: | 93.1% |
| Foreign Stock: | 2.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 4.0% |
Purchase Information
| Fund Family: | MH Elite |
| Phone Number: | 800-318-7969 |
| Website: | www.mhelite.com |
| Status: | Open |
| Inception Date: | January 13, 2004 |
| Min. Initial Purchase: | $10,000 |
| 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 (%): | 1.84% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.14% |
| Share Class: | MH Elite Fund of Funds |
| Min. Subsequent Purchase: | $1,000 |
| Min. Subsequent IRA Purchase: | $ 0 |
