Fund Evaluator:
MH Elite Income Fund of Funds (MHEIX)
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Best Performing in Global Conservative Allocation Over the Last Year
| 22.9% | Lincoln Inflation Plus A (LFTAX) |
| 9.3% | TOPS® Conservative ETF 2 () |
| 8.7% | Victory Cornerstone Conservative (USCCX) |
| 8.6% | Fidelity Asset Manager 20% (FASIX) |
| 8.5% | Fidelity Advisor Asset Manager 20% Z (FIKVX) |
Fund Details
MH Elite Income Fund of Funds Overview
MH Elite Income Fund of Funds (MHEIX) is an actively managed Allocation Global Conservative Allocation fund. MH Elite launched the fund in 2011.
The investment seeks income, with the potential for capital appreciation as a secondary objective. The fund invests at least 80% of its total assets in 15 to 25 unaffiliated open-end mutual funds (underlying funds) with an investment objective that seeks to provide current income and/or total return. It may also invest in conservative asset allocation funds, which in turn employ a strategy of investing in a combination of bonds and common stocks, whereby the stock allocation is less than 40%, and equity funds that invest in dividend paying common stocks to generate income.
About MH Elite Income Fund of Funds (MHEIX)
There are 1 members of the management team with an average tenure of 14.97 years: Harvey Merson (2011). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. MH Elite Income Fund of Funds has 21 securities in its portfolio. The top 10 holdings constitute 52.0% 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.
MH Elite Income Fund of Funds is part of the Allocation global asset class and is within the Allocation fund group. MH Elite Income Fund of Funds has 17.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 11.2%. There is 0.7% allocated to foreign stock, and 1.7% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 65.9% (48.7% domestic bond, 17.2% foreign bond and 4.2% convertible bond). MH Elite Income Fund of Funds has 14.8% of the portfolio in cash.
Assets Under Management
The fund has $16 million in total assets, which is below the $272 million average for the Global Conservative 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.
MHEIX 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 Income Fund of Funds expense ratio is high compared to funds in the Global Conservative Allocation category. MH Elite Income Fund of Funds has an expense ratio of 1.89%, which is 85% 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 Income Fund of Funds has a portfolio turnover rate of 7%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 49% for the Global Conservative Allocation category.
Recently, in the month of July 2026, MH Elite Income Fund of Funds returned -0.6%, which earned it a grade of B, as the Global Conservative Allocation category had an average return of -0.6%. 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 Income Fund of Funds has a trailing yield of 3.74%, which is above the 3.59% 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 Income Fund of Funds Grades
Year to date, the fund has returned 1.7%, 1.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 5.5% over the past year (grade of F), 6.7% over the past three years (grade of D) and 2.6% per year over the past five years (grade of C) and 3.3% per year over the past 10 years (grade of F).
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MHEIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MHEIX Return (NAV) | -0.6% | -0.4% | 5.5% | 6.7% | 2.6% | 3.3% |
| MHEIX Grade | B | F | F | D | C | F |
| +/- Category | 0.0% | -0.9% | -2.4% | -0.3% | -0.1% | -0.8% |
| Global Conservative Allocation Avg | -0.6% | 0.5% | 8.0% | 7.0% | 2.8% | 4.0% |
| MHEIX Tax Cost Ratio | na | na | 1.3% | 1.3% | 1.1% | 0.9% |
MHEIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MHEIX Return (NAV) | 1.7% | 8.5% | 6.2% | 7.3% | -9.8% | 2.4% | 5.3% | 11.1% | -3.2% | 5.4% | 5.8% |
| MHEIX Grade | F | D | A | D | B | F | F | C | C | F | B |
| +/- Category | -1.5% | -1.2% | 0.8% | -0.9% | 1.6% | -2.1% | -2.7% | 0.0% | -0.4% | -1.7% | 0.5% |
| Global Conservative Allocation Avg | 3.2% | 9.7% | 5.4% | 8.2% | -11.5% | 4.5% | 8.0% | 11.1% | -2.9% | 7.1% | 5.3% |
| Risk Measures | |
| Standard Deviation: | 4.5% |
| Total Risk Index: | 0.37 - Low |
| Category Risk Index: | 0.80 - Low |
| Category Risk Grade: | A (10% Rank) |
| Beta: | 0.45 |
| R-Squared: | 89% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 3.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $16 Mil |
| Fund Total Assets: | $ 17 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 7% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 15.0 years | |||
| Average Tenure: 15.0 years | |||
| Managers (Year): Merson Harvey (2011) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 21 |
| % in Top 10 Holdings: | 52.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 17.9% |
Portfolio Allocation |
|
| Domestic Stock: | 11.2% |
| Foreign Stock: | 0.7% |
| Preferred Stock: | 1.7% |
| Domestic Bond: | 48.7% |
| Foreign Bond: | 17.2% |
| Convertible Bond: | 4.2% |
| Other: | 1.6% |
| Cash: | 14.8% |
Purchase Information
| Fund Family: | MH Elite |
| Phone Number: | 800-318-7969 |
| Website: | www.mhelite.com |
| Status: | Open |
| Inception Date: | August 15, 2011 |
| 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 (%): | 1.89% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.02% |
| Share Class: | MH Elite Income Fund of Funds |
| Min. Subsequent Purchase: | $1,000 |
| Min. Subsequent IRA Purchase: | $ 0 |
