Fund Evaluator:
Popular Total Return C (TRCFX)
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Best Performing in Moderate Allocation Over the Last Year
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Fund Details
Popular Total Return C Overview
Popular Total Return C (TRCFX) is an actively managed Allocation Moderate Allocation fund. Popular Funds launched the fund in 2004.
The investment seeks long-term capital appreciation; the secondary investment objective of the fund is to seek current income. Under normal conditions, the fund will seek to meet its objective by investing at least 50%, but not more than 80%, of its total assets in equity securities. The balance of the fund’s total assets will be invested in fixed-income securities and cash or cash equivalents. The fund may invest up to 20% of its total assets in securities of foreign issuers (i.e., entities organized outside of the United States of America (the “U.S.”) and Puerto Rico). It is non-diversified.
About Popular Total Return C (TRCFX)
There are 4 members of the management team with an average tenure of 6.91 years: Angel Rivera (2023), Antonio Mauceri (2006), Cristina Ameiro (2023), Hamada Smail (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) index with a weighting of 100% and S&P Target Risk Growth TR USD index with a weighting of 100%. Popular Total Return C has 43 securities in its portfolio. The top 10 holdings constitute 75.7% 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.
Popular Total Return C is part of the Allocation global asset class and is within the Allocation fund group. Popular Total Return C has 42.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 44.6%. There is 19.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 30.9% (8.6% domestic bond, 22.4% foreign bond and 0.0% convertible bond). Popular Total Return C has 4.7% 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 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.
TRCFX 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 Popular Total Return C expense ratio is high compared to funds in the Moderate Allocation category. Popular Total Return C has an expense ratio of 2.42%, which is 144% 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. Popular Total Return C 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 52% for the Moderate Allocation category.
Recently, in the month of July 2026, Popular Total Return C returned -0.8%, which earned it a grade of D, as the 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.
Popular Total Return C has a trailing yield of 0.00%, which is below the 1.97% 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.
Popular Total Return C Grades
Year to date, the fund has returned 5.0%, 1.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 11.0% over the past year (grade of D), 9.5% over the past three years (grade of F) and 4.1% per year over the past five years (grade of F) and 6.8% per year over the past 10 years (grade of F).
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TRCFX 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 |
|
| TRCFX Return (NAV) | -0.8% | 1.3% | 11.0% | 9.5% | 4.1% | 6.8% |
| TRCFX Grade | D | F | D | F | F | F |
| +/- Category | -0.6% | -0.9% | -2.1% | -2.5% | -2.5% | -1.7% |
| Moderate Allocation Avg | -0.3% | 2.1% | 13.1% | 12.0% | 6.6% | 8.5% |
| TRCFX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
TRCFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TRCFX Return (NAV) | 5.0% | 12.0% | 9.4% | 12.8% | -17.6% | 11.5% | 10.4% | 21.0% | -7.5% | 15.1% | 7.0% |
| TRCFX Grade | D | D | F | D | F | F | D | B | F | B | C |
| +/- Category | -1.4% | -1.4% | -2.8% | -1.5% | -3.6% | -2.9% | -2.5% | 1.2% | -2.4% | 1.3% | -0.7% |
| Moderate Allocation Avg | 6.4% | 13.4% | 12.2% | 14.3% | -14.0% | 14.4% | 12.9% | 19.8% | -5.1% | 13.8% | 7.7% |
| Risk Measures | |
| Standard Deviation: | 8.8% |
| Total Risk Index: | 0.72 - Below Average |
| Category Risk Index: | 0.96 - Below Average |
| Category Risk Grade: | B (29% Rank) |
| Beta: | 0.92 |
| R-Squared: | 96% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $73 Mil |
| Fund Total Assets: | $ 1 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 18% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 19.6 years | |||
| Average Tenure: 6.9 years | |||
| Managers (Year): Mauceri Antonio (2006), Ameiro Cristina (2023), Rivera Angel (2023), Smail Hamada (2024) | |||
Portfolio Composition (as of 10/31/24)
| # of Holdings: | 43 |
| % in Top 10 Holdings: | 75.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 42.1% |
Portfolio Allocation |
|
| Domestic Stock: | 44.6% |
| Foreign Stock: | 19.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 8.6% |
| Foreign Bond: | 22.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.7% |
Purchase Information
| Fund Family: | Popular Funds |
| Phone Number: | 787-758-7400 |
| Website: |
| Status: | Open |
| Inception Date: | October 25, 2004 |
| Min. Initial Purchase: | $ 500 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 2.42% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | Popular Total Return A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
