Fund Evaluator:
Tanaka Growth (TGFRX)
Follow This Fund
Best Performing in Large Growth Over the Last Year
| 54.1% | Tanaka Growth (TGFRX) |
| 51.8% | Fidelity Advisor OTC Z (FOTJX) |
| 51.7% | Fidelity OTC (FOCPX) |
| 47.1% | Fidelity Advisor Focused Stock Z (FSFOX) |
| 47.0% | Fidelity Focused Stock (FTQGX) |
Fund Details
Tanaka Growth Overview
Tanaka Growth (TGFRX) is an actively managed U.S. Equity Large Growth fund. Tanaka launched the fund in 1998.
The investment seeks growth of capital. The fund invests primarily in common stocks and other equity securities of small, medium and large capitalization companies. It invests up to 45% of its net assets, measured at the time of investment, in foreign securities, including multinational and emerging market securities. The fund is non-diversified.
About Tanaka Growth (TGFRX)
There are 2 members of the management team with an average tenure of 14.47 years: Graham Tanaka (1998), Benjamin Bratt (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Wilshire 2500 Growth TR USD index with a weighting of 100%. Tanaka Growth has 25 securities in its portfolio. The top 10 holdings constitute 55.8% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Tanaka Growth is part of the Equity global asset class and is within the U.S. Equity fund group. Tanaka Growth has 12.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 73.9%. There is 12.0% 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). Tanaka Growth has 14.1% of the portfolio in cash.
Assets Under Management
The fund has $40 million in total assets, which is below the $2 billion average for the Large Growth 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.
TGFRX 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 Tanaka Growth expense ratio is high compared to funds in the Large Growth category. Tanaka Growth has an expense ratio of 1.95%, which is 103% 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. Tanaka Growth has a portfolio turnover rate of 23%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of June 2026, Tanaka Growth returned 1.9%, which earned it a grade of A, as the Large Growth category had an average return of -1.3%. 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.
Tanaka Growth has a trailing yield of 0.00%, which is below the 0.06% 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.
Tanaka Growth Grades
Year to date, the fund has returned 18.5%, 11.4 percentage points better than the category, which translates into a grade of A. The fund has returned 54.1% over the past year (grade of A), 30.0% over the past three years (grade of A) and 15.1% per year over the past five years (grade of A) and 16.0% per year over the past 10 years (grade of C).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Tanaka Growth, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
TGFRX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TGFRX Return (NAV) | 1.9% | 16.0% | 54.1% | 30.0% | 15.1% | 16.0% |
| TGFRX Grade | A | D | A | A | A | C |
| +/- Category | 3.2% | -1.8% | 38.3% | 9.3% | 5.1% | -0.4% |
| Large Growth Avg | -1.3% | 17.8% | 15.9% | 20.7% | 10.0% | 16.4% |
| TGFRX Tax Cost Ratio | na | na | 3.2% | 1.6% | 1.3% | 0.6% |
TGFRX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TGFRX Return (NAV) | 18.5% | 39.3% | 18.1% | 50.2% | -22.6% | 26.6% | 50.9% | 18.8% | -25.2% | 7.3% | -4.5% |
| TGFRX Grade | A | A | F | A | A | B | A | F | F | F | F |
| +/- Category | 11.4% | 23.6% | -11.5% | 11.5% | 9.4% | 6.1% | 8.8% | -14.4% | -24.5% | -22.5% | -7.2% |
| Large Growth Avg | 7.1% | 15.7% | 29.6% | 38.8% | -32.0% | 20.5% | 42.0% | 33.2% | -0.7% | 29.8% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 21.3% |
| Total Risk Index: | 1.75 - High |
| Category Risk Index: | 1.23 - High |
| Category Risk Grade: | F (93% Rank) |
| Beta: | 1.14 |
| R-Squared: | 49% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $40 Mil |
| Fund Total Assets: | $ 40 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 23% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 27.5 years | |||
| Average Tenure: 14.5 years | |||
| Managers (Year): Tanaka Graham (1998), Bratt Benjamin (2025) | |||
Portfolio Composition (as of 2/28/26)
| # of Holdings: | 25 |
| % in Top 10 Holdings: | 55.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 12.0% |
Portfolio Allocation |
|
| Domestic Stock: | 73.9% |
| Foreign Stock: | 12.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 14.1% |
Purchase Information
| Fund Family: | Tanaka |
| Phone Number: | 877-482-6252 |
| Website: | www.tanaka.com |
| Status: | Open |
| Inception Date: | December 30, 1998 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.95% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Tanaka Growth |
| Min. Subsequent Purchase: | $ 500 |
| Min. Subsequent IRA Purchase: | $ 0 |
