Fund Evaluator:
Upright Growth & Income (UPDDX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
Upright Growth & Income Overview
Upright Growth & Income (UPDDX) is an actively managed U.S. Equity Large Growth fund. Upright Investments Trust launched the fund in 2017.
The investment seeks current income consistent with growth of capital. The fund's adviser seeks to achieve its investment objective using a combination (or hybrid) of three investment styles through value investing, equity income and balance investing by investing normally 50-80% of the fund's net assets in U.S. domiciled equity securities broadly diversified by company and industry; seeks above-average dividend-paying equity securities (normally at or above S&P 500's average dividend yield) or securities with expectations of increasing dividends.
About Upright Growth & Income (UPDDX)
There are 1 members of the management team with an average tenure of 8.90 years: David Chiueh (2017). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: DJ US Total Stock Market TR USD index with a weighting of 100% and Bloomberg US Govt/Credit TR USD index with a weighting of 100%. Upright Growth & Income has 29 securities in its portfolio. The top 10 holdings constitute 58.7% 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.
Upright Growth & Income is part of the Equity global asset class and is within the U.S. Equity fund group. Upright Growth & Income has 27.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 39.3%. There is 27.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.3% (0.3% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Upright Growth & Income has 32.7% of the portfolio in cash.
Assets Under Management
The fund has $5 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.
UPDDX 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 Upright Growth & Income expense ratio is high compared to funds in the Large Growth category. Upright Growth & Income has an expense ratio of 2.53%, which is 163% 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. Upright Growth & Income has a portfolio turnover rate of 0%, indicating that holds its assets around 9.1 years. By way of comparison, the average portfolio turnover is 55% for the Large Growth category.
Recently, in the month of August 2026, Upright Growth & Income returned 3.5%, which earned it a grade of C, 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.
Upright Growth & Income 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.
Upright Growth & Income Grades
Year to date, the fund has returned 23.8%, 16.6 percentage points better than the category, which translates into a grade of A. The fund has returned 38.7% over the past year (grade of A), 37.9% over the past three years (grade of A) and 16.0% per year over the past five years (grade of A).
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UPDDX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| UPDDX Return (NAV) | 3.5% | -4.4% | 38.7% | 37.9% | 16.0% | na |
| UPDDX Grade | C | F | A | A | A | na |
| +/- Category | 0.2% | -3.2% | 26.7% | 17.9% | 7.4% | na |
| Large Growth Avg | 3.3% | -1.2% | 12.0% | 20.0% | 8.6% | 15.7% |
| UPDDX Tax Cost Ratio | na | na | 0.0% | 0.1% | 0.2% | na |
UPDDX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| UPDDX Return (NAV) | 23.8% | 32.4% | 47.5% | 32.5% | -42.0% | 57.5% | 49.5% | -0.1% | -26.9% | na | na |
| UPDDX Grade | A | A | A | D | F | A | A | F | F | na | na |
| +/- Category | 16.6% | 16.7% | 17.9% | -6.2% | -9.9% | 37.3% | 7.3% | -33.3% | -26.2% | na | na |
| Large Growth Avg | 7.2% | 15.7% | 29.6% | 38.7% | -32.1% | 20.2% | 42.1% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 26.0% |
| Total Risk Index: | 2.14 - High |
| Category Risk Index: | 1.48 - High |
| Category Risk Grade: | F (98% Rank) |
| Beta: | 1.81 |
| R-Squared: | 81% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Extensive Sensitivity |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $5 Mil |
| Fund Total Assets: | $ 6 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 0% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 8.9 years | |||
| Average Tenure: 8.9 years | |||
| Managers (Year): Chiueh David (2017) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 29 |
| % in Top 10 Holdings: | 58.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 27.7% |
Portfolio Allocation |
|
| Domestic Stock: | 39.3% |
| Foreign Stock: | 27.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.3% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 32.7% |
Purchase Information
| Fund Family: | Upright Investments Trust |
| Phone Number: | 877-385-2720 |
| Website: |
| Status: | Closed |
| Inception Date: | October 10, 2017 |
| 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: | na |
Expenses and Fees | |
| Expense Ratio (%): | 2.53% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Upright Growth & Income |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
