Fund Evaluator:
ALPS Asset Allocation Growth & Inc Inv (RLGAX)
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Best Performing in Global Moderate Allocation Over the Last Year
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Fund Details
ALPS Asset Allocation Growth & Inc Inv Overview
ALPS Asset Allocation Growth & Inc Inv (RLGAX) is an actively managed Allocation Global Moderate Allocation fund. ALPS launched the fund in 2010.
The investment seeks to achieve long-term growth and income. The adviser seek to achieve the fund's investment objective by strategically investing in, and tactically adjusting allocations to, exchange-traded funds (ETFs) that, under normal market conditions, are expected to consist of ETFs advised by the adviser as well as unaffiliated ETFs. The fund also seeks, under normal market conditions, a target asset allocation, on a look-through basis, of 60% to equities and 40% to fixed-income securities.
About ALPS Asset Allocation Growth & Inc Inv (RLGAX)
There are 2 members of the management team with an average tenure of 1.42 years: Laton Spahr (2025), Eric Hewitt (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Morningstar Global Markets NR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. ALPS Asset Allocation Growth & Inc Inv has 17 securities in its portfolio. The top 10 holdings constitute 90.5% 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.
ALPS Asset Allocation Growth & Inc Inv is part of the Allocation global asset class and is within the Allocation fund group. ALPS Asset Allocation Growth & Inc Inv has 22.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 50.5%. There is 21.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 24.9% (23.6% domestic bond, 1.3% foreign bond and 0.0% convertible bond). ALPS Asset Allocation Growth & Inc Inv has 3.0% of the portfolio in cash.
Assets Under Management
The fund has $8 million in total assets, which is below the $947 million average for the Global 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.
RLGAX 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 ALPS Asset Allocation Growth & Inc Inv expense ratio is high compared to funds in the Global Moderate Allocation category. ALPS Asset Allocation Growth & Inc Inv has an expense ratio of 0.80%, which is 23% lower than its category average, making the fund expense ratio grade a B. 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. ALPS Asset Allocation Growth & Inc Inv has a portfolio turnover rate of 113%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 64% for the Global Moderate Allocation category.
Recently, in the month of July 2026, ALPS Asset Allocation Growth & Inc Inv returned 0.2%, which earned it a grade of B, as the Global 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.
ALPS Asset Allocation Growth & Inc Inv has a trailing yield of 1.94%, which is below the 2.61% category average. The fund normally distributes its income quarterly 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.
ALPS Asset Allocation Growth & Inc Inv Grades
Year to date, the fund has returned 8.5%, 0.4 percentage points better than the category, which translates into a grade of B. The fund has returned 16.4% over the past year (grade of B), 12.3% over the past three years (grade of B) and 6.6% per year over the past five years (grade of B) and 7.4% per year over the past 10 years (grade of C).
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RLGAX 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 |
|
| RLGAX Return (NAV) | 0.2% | 2.5% | 16.4% | 12.3% | 6.6% | 7.4% |
| RLGAX Grade | B | B | B | B | B | C |
| +/- Category | -0.1% | 0.4% | 0.4% | 0.4% | 0.4% | 0.1% |
| Global Moderate Allocation Avg | 0.3% | 2.1% | 16.0% | 11.9% | 6.2% | 7.3% |
| RLGAX Tax Cost Ratio | na | na | 1.8% | 1.5% | 1.5% | 1.4% |
RLGAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RLGAX Return (NAV) | 8.5% | 14.3% | 10.8% | 14.1% | -14.3% | 13.2% | 6.8% | 18.2% | -11.3% | 17.3% | 6.6% |
| RLGAX Grade | B | D | B | B | C | B | D | C | F | A | C |
| +/- Category | 0.4% | -1.8% | 2.4% | 1.8% | -0.9% | 1.6% | -3.0% | 0.6% | -4.2% | 3.3% | -0.1% |
| Global Moderate Allocation Avg | 8.1% | 16.1% | 8.4% | 12.2% | -13.4% | 11.6% | 9.8% | 17.7% | -7.1% | 14.0% | 6.6% |
| Risk Measures | |
| Standard Deviation: | 9.0% |
| Total Risk Index: | 0.74 - Below Average |
| Category Risk Index: | 0.99 - Average |
| Category Risk Grade: | C (43% Rank) |
| Beta: | 0.93 |
| R-Squared: | 93% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 1.9% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $76 Mil |
| Fund Total Assets: | $ 9 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 113% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.4 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Spahr Laton (2025), Hewitt Eric (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 17 |
| % in Top 10 Holdings: | 90.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 22.9% |
Portfolio Allocation |
|
| Domestic Stock: | 50.5% |
| Foreign Stock: | 21.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 23.6% |
| Foreign Bond: | 1.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.0% |
Purchase Information
| Fund Family: | ALPS |
| Phone Number: | 866-759-5679 |
| Website: | www.alpsfunds.com |
| Status: | Open |
| Inception Date: | August 2, 2010 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.80% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.04% |
| Share Class: | ALPS Asset Allocation Growth & Inc I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
