Fund Evaluator:
MoA Clear Passage 2020 Fund (MURGX)
Follow This Fund
Best Performing in Target-Date 2020 Over the Last Year
| 12.5% | Fidelity Advisor Freedom Blend 2020 Z (FJAIX) |
| 12.1% | Fidelity Advisor Sust Trgt Dt 2020 Z (FSWKX) |
| 11.9% | T. Rowe Price Retirement 2020 (TRRBX) |
| 11.4% | Fidelity Advisor Freedom 2020 Z (FIJLX) |
| 11.0% | Fidelity Freedom Index 2020 Investor (FPIFX) |
Fund Details
MoA Clear Passage 2020 Fund Overview
MoA Clear Passage 2020 Fund (MURGX) is an actively managed Allocation Target-Date 2020 fund. Mutual of America launched the fund in 2007.
The investment seeks to achieve current income and capital appreciation appropriate for the asset allocation associated with its approximate year of retirement which is included in the fund's name ("Target Retirement Date"). The fund invests in shares of other series of the Investment Company (“IC Funds”) in proportions that the Adviser selects to seek to meet the objective of the fund.
About MoA Clear Passage 2020 Fund (MURGX)
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 Clear Passage 2020 Fund has 8 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 Clear Passage 2020 Fund is part of the Allocation global asset class and is within the Allocation fund group. MoA Clear Passage 2020 Fund has 8.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 27.6%. There is 8.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 57.0% (56.9% domestic bond, 0.1% foreign bond and 0.0% convertible bond). MoA Clear Passage 2020 Fund has 6.6% of the portfolio in cash.
Assets Under Management
The fund has $390 million in total assets, which is below the $912 million average for the Target-Date 2020 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.
MURGX 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 Clear Passage 2020 Fund expense ratio is average compared to funds in the Target-Date 2020 category. MoA Clear Passage 2020 Fund has an expense ratio of 0.49%, which is 13% lower than its category average, making the fund expense ratio grade a C. 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 Clear Passage 2020 Fund has a portfolio turnover rate of 14%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 20% for the Target-Date 2020 category.
Recently, in the month of July 2026, MoA Clear Passage 2020 Fund returned -0.6%, which earned it a grade of C, as the Target-Date 2020 category had an average return of -0.7%. 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 Clear Passage 2020 Fund has a trailing yield of 2.89%, which is above the 2.79% category average. The fund normally distributes its income semi-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.
MoA Clear Passage 2020 Fund Grades
Year to date, the fund has returned 3.7%, 1.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 9.1% over the past year (grade of F), 8.8% over the past three years (grade of F) and 4.4% per year over the past five years (grade of C) and 6.5% per year over the past 10 years (grade of D).
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MURGX 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 |
|
| MURGX Return (NAV) | -0.6% | 1.2% | 9.1% | 8.8% | 4.4% | 6.5% |
| MURGX Grade | C | D | F | F | C | D |
| +/- Category | 0.0% | -0.1% | -1.9% | -0.8% | -0.1% | -0.2% |
| Target-Date 2020 Avg | -0.7% | 1.3% | 11.0% | 9.6% | 4.5% | 6.7% |
| MURGX Tax Cost Ratio | na | na | 2.2% | 2.0% | 2.1% | 2.1% |
MURGX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MURGX Return (NAV) | 3.7% | 11.2% | 8.1% | 11.8% | -13.1% | 9.8% | 9.1% | 17.5% | -4.0% | 12.5% | 8.6% |
| MURGX Grade | F | F | B | C | B | B | F | C | B | D | A |
| +/- Category | -1.4% | -1.7% | 0.5% | 0.1% | 1.3% | 0.5% | -2.8% | 0.4% | 0.5% | -0.8% | 1.9% |
| Target-Date 2020 Avg | 5.1% | 12.9% | 7.6% | 11.7% | -14.3% | 9.3% | 11.9% | 17.1% | -4.5% | 13.3% | 6.7% |
| Risk Measures | |
| Standard Deviation: | 6.6% |
| Total Risk Index: | 0.54 - Below Average |
| Category Risk Index: | 0.89 - Low |
| Category Risk Grade: | A (10% Rank) |
| Beta: | 0.69 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 2.9% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | |
| Total Assets: | $390 Mil |
| Fund Total Assets: | $ 391 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 15% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 12.3 years | |||
| Average Tenure: 8.8 years | |||
| Managers (Year): Gaffoglio Joseph (2014), Zendel Jamie (2021) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 8 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 8.9% |
Portfolio Allocation |
|
| Domestic Stock: | 27.6% |
| Foreign Stock: | 8.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 56.9% |
| Foreign Bond: | 0.1% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 6.6% |
Purchase Information
| Fund Family: | Mutual of America |
| Phone Number: | 800-468-3785 |
| Website: | www.mutualofamerica.com |
| Status: | Open |
| Inception Date: | November 5, 2007 |
| 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 (%): | 0.49% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.56% |
| Share Class: | MoA Clear Passage 2020 Fund |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
