Fund Evaluator:
Aristotle Portfolio OptimizationCns A (POAAX)
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Best Performing in Conservative Allocation Over the Last Year
| 11.9% | Hussman Strategic Total Return (HSTRX) |
| 10.4% | Franklin Multi-Asset Income Y (PMIYX) |
| 10.1% | Columbia Income Builder Inst (CBUZX) |
| 8.2% | Thrivent Conservative Allocation S (THYFX) |
| 8.0% | Columbia Capital Allocation Cnsrv Inst (CBVZX) |
Fund Details
Aristotle Portfolio OptimizationCns A Overview
Aristotle Portfolio OptimizationCns A (POAAX) is an actively managed Allocation Conservative Allocation fund. Aristotle Funds launched the fund in 2003.
The investment seeks current income and preservation of capital. The fund is a "fund of funds" that seeks to achieve its investment goal by investing in a combination of underlying funds. Under normal circumstances, between 40% and 90% of its assets in underlying funds sub-advised by an affiliate of the investment adviser. Under normal market conditions, the fund’s exposure to debt is expected to be 70-85%; the fund’s exposure to equity is expected to be 15-30%.
About Aristotle Portfolio OptimizationCns A (POAAX)
There are 3 members of the management team with an average tenure of 8.23 years: Carleton Muench (2006), Jie "Edward" Sheng (2021), Jordan Fettman (2026). 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%. Aristotle Portfolio OptimizationCns A has 22 securities in its portfolio. The top 10 holdings constitute 86.4% 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.
Aristotle Portfolio OptimizationCns A is part of the Allocation global asset class and is within the Allocation fund group. Aristotle Portfolio OptimizationCns A has 17.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 20.3%. There is 5.7% allocated to foreign stock, and 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 71.6% (59.6% domestic bond, 12.1% foreign bond and 0.1% convertible bond). Aristotle Portfolio OptimizationCns A has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $105 million in total assets, which is below the $107 million average for the 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.
POAAX 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 Aristotle Portfolio OptimizationCns A expense ratio is high compared to funds in the Conservative Allocation category. Aristotle Portfolio OptimizationCns A has an expense ratio of 1.14%, which is 4% lower than its category average, making the fund expense ratio grade a D. 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. Aristotle Portfolio OptimizationCns A has a portfolio turnover rate of 56%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 100% for the Conservative Allocation category.
Recently, in the month of July 2026, Aristotle Portfolio OptimizationCns A returned -0.6%, which earned it a grade of B, as the Conservative Allocation category had an average return of -0.8%. 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.
Aristotle Portfolio OptimizationCns A has a trailing yield of 3.72%, which is above the 3.43% 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.
Aristotle Portfolio OptimizationCns A Grades
Year to date, the fund has returned 3.1%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 7.2% over the past year (grade of C), 7.4% over the past three years (grade of C) and 2.2% per year over the past five years (grade of D) and 4.0% per year over the past 10 years (grade of C).
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POAAX 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 |
|
| POAAX Return (NAV) | -0.6% | 1.0% | 7.2% | 7.4% | 2.2% | 4.0% |
| POAAX Grade | B | A | C | C | D | C |
| +/- Category | 0.2% | 0.5% | -0.0% | 0.2% | -0.5% | 0.1% |
| Conservative Allocation Avg | -0.8% | 0.6% | 7.2% | 7.2% | 2.7% | 3.9% |
| POAAX Tax Cost Ratio | na | na | 1.5% | 1.5% | 1.5% | 1.4% |
POAAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| POAAX Return (NAV) | 3.1% | 9.5% | 6.1% | 9.4% | -15.0% | 4.0% | 10.8% | 12.1% | -4.2% | 7.8% | 5.3% |
| POAAX Grade | B | C | C | C | F | D | A | B | D | C | C |
| +/- Category | 0.3% | 0.3% | 0.2% | 0.7% | -3.1% | -0.6% | 2.8% | 0.6% | -0.9% | 0.7% | -0.6% |
| Conservative Allocation Avg | 2.8% | 9.2% | 5.9% | 8.7% | -11.9% | 4.5% | 8.0% | 11.5% | -3.3% | 7.1% | 5.9% |
| Risk Measures | |
| Standard Deviation: | 5.8% |
| Total Risk Index: | 0.47 - Below Average |
| Category Risk Index: | 0.90 - Below Average |
| Category Risk Grade: | B (30% Rank) |
| Beta: | 0.60 |
| R-Squared: | 95% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 3.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $115 Mil |
| Fund Total Assets: | $ 105 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 56% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 19.7 years | |||
| Average Tenure: 8.2 years | |||
| Managers (Year): Muench Carleton (2006), Sheng Jie "Edward" (2021), Fettman Jordan (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 22 |
| % in Top 10 Holdings: | 86.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 17.7% |
Portfolio Allocation |
|
| Domestic Stock: | 20.3% |
| Foreign Stock: | 5.7% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 59.6% |
| Foreign Bond: | 12.1% |
| Convertible Bond: | 0.1% |
| Other: | 0.0% |
| Cash: | 2.2% |
Purchase Information
| Fund Family: | Aristotle Funds |
| Phone Number: | 844-274-7885 |
| Website: | www.pacificlife.com |
| Status: | Open |
| Inception Date: | December 31, 2003 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 5.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.14% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.19% |
| Share Class: | Aristotle Portfolio OptimizationCns A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
