Fund Evaluator:

1290 Avantis U.S. Large Cap Growth A Overview

1290 Avantis U.S. Large Cap Growth A (TNRAX) is an actively managed U.S. Equity Large Growth fund. 1290 Funds launched the fund in 2023.

The investment seeks to provide long-term growth of capital. The fund will invest at least 80% of its net assets, plus borrowings for investment purposes, in securities of large capitalization U.S. companies. It invests primarily in common stocks issued by large capitalization U.S. companies. The fund seeks to invest in securities of growth companies commonly identified by their relatively low book/price ratio or by their membership in the Russell 1000® Growth Index and that the Sub‑Adviser expects to have higher returns. It is non-diversified.

About 1290 Avantis U.S. Large Cap Growth A (TNRAX)

There are 9 members of the management team with an average tenure of 2.70 years: Kenneth Kozlowski (2017), Xavier Poutas (2026), Daniel Ong (2023), Miao Hu (2026), Mitchell Firestein (2023), Kevin McCarthy (2026), Eduardo Repetto (2023), Ted Randall (2023), Matthew Dubin (2023). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 1000 TR USD index with a weighting of 100% and Russell 1000 Growth TR USD index with a weighting of 100%. 1290 Avantis U.S. Large Cap Growth A has 200 securities in its portfolio. The top 10 holdings constitute 53.3% 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.

1290 Avantis U.S. Large Cap Growth A is part of the Equity global asset class and is within the U.S. Equity fund group. 1290 Avantis U.S. Large Cap Growth A has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.9%. There is 0.0% 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). 1290 Avantis U.S. Large Cap Growth A has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $1 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.

TNRAX 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 1290 Avantis U.S. Large Cap Growth A expense ratio is high compared to funds in the Large Growth category. 1290 Avantis U.S. Large Cap Growth A has an expense ratio of 0.90%, which is 6% 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. 1290 Avantis U.S. Large Cap Growth A has a portfolio turnover rate of 4%, indicating that holds its assets around 0.3 years. By way of comparison, the average portfolio turnover is 55% for the Large Growth category.

Recently, in the month of August 2026, 1290 Avantis U.S. Large Cap Growth A returned 2.3%, which earned it a grade of D, as the Large Growth category had an average return of 3.3%. 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.

1290 Avantis U.S. Large Cap Growth A 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.

1290 Avantis U.S. Large Cap Growth A Grades

Year to date, the fund has returned 8.7%, 1.5 percentage points better than the category, which translates into a grade of B. The fund has returned 15.8% over the past year (grade of B), 20.1% over the past three years (grade of C) and 10.6% per year over the past five years (grade of B).

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