Fund Evaluator:

Symmetry Panoramic US Equity I Overview

Symmetry Panoramic US Equity I (SPUSX) is an actively managed U.S. Equity Large Blend fund. Symmetry Partners launched the fund in 2018.

The investment seeks long-term capital appreciation. Under normal circumstances, the fund will invest, directly or indirectly, at least 80% of its net assets in equity securities of U.S. companies. It may invest in securities and other instruments either directly or by investing in shares of registered, open-end investment companies and exchange-traded funds (“ETFs”) (collectively, “underlying funds”). The fund may also invest in real estate investment trusts (“REITs”).

About Symmetry Panoramic US Equity I (SPUSX)

There are 11 members of the management team with an average tenure of 3.40 years: Jed Fogdall (2020), Allen Pu (2024), John Huss (2022), Michele Aghassi (2020), Austin Wen (2025), Devin Ryder (2025), John McDermott (2018), David Connelly (2026), Nathan Sosner (2022), John Hertzer (2022), Laura Serban (2026). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI US Broad Market NR USD index with a weighting of 100%. Symmetry Panoramic US Equity I has 518 securities in its portfolio. The top 10 holdings constitute 31.6% 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.

Symmetry Panoramic US Equity I is part of the Equity global asset class and is within the U.S. Equity fund group. Symmetry Panoramic US Equity I has 1.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.3%. There is 1.2% 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). Symmetry Panoramic US Equity I has 1.4% of the portfolio in cash.

Assets Under Management

The fund has $441 million in total assets, which is below the $6 billion average for the Large Blend 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.

SPUSX 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 Symmetry Panoramic US Equity I expense ratio is above average compared to funds in the Large Blend category. Symmetry Panoramic US Equity I has an expense ratio of 0.65%, which is 20% 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. Symmetry Panoramic US Equity I has a portfolio turnover rate of 18%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.

Recently, in the month of July 2026, Symmetry Panoramic US Equity I returned -0.8%, which earned it a grade of F, as the Large Blend category had an average return of 0.4%. 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.

Symmetry Panoramic US Equity I has a trailing yield of 0.66%, which is above the 0.56% category average. The fund normally distributes its income 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.

Symmetry Panoramic US Equity I Grades

Year to date, the fund has returned 13.5%, 4.2 percentage points better than the category, which translates into a grade of A. The fund has returned 20.9% over the past year (grade of A), 17.6% over the past three years (grade of C) and 11.3% per year over the past five years (grade of C).

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