Fund Evaluator:
Al Frank Adv (VALAX)
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Best Performing in Large Value Over the Last Year
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Fund Details
Al Frank Adv Overview
Al Frank Adv (VALAX) is an actively managed U.S. Equity Large Value fund. Al Frank launched the fund in 2006.
The investment seeks long-term capital appreciation. Under normal market conditions, the Adviser selects equity securities that the adviser believes are out of favor and undervalued. The Adviser then attempts to purchase the securities and hold them until the adviser believes that the securities have reached their fair value. To earn additional income, the fund, through its agent, may lend its portfolio securities to broker-dealers amounting to no more than 33-1/3% of the total assets of the fund (including any collateral posted) or 50% of the total assets of the fund (excluding any collateral posted).
About Al Frank Adv (VALAX)
There are 1 members of the management team with an average tenure of 0.26 years: Robert Schundler (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 3000 TR USD index with a weighting of 100%. Al Frank Adv has 75 securities in its portfolio. The top 10 holdings constitute 26.9% 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.
Al Frank Adv is part of the Equity global asset class and is within the U.S. Equity fund group. Al Frank Adv has 1.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.1%. There is 1.9% 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). Al Frank Adv has 5.1% of the portfolio in cash.
Assets Under Management
The fund has $85 million in total assets, which is below the $1 billion average for the Large Value 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.
VALAX 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 Al Frank Adv expense ratio is high compared to funds in the Large Value category. Al Frank Adv has an expense ratio of 1.25%, which is 35% higher than its category average, making the fund expense ratio grade a D. 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. Al Frank Adv has a portfolio turnover rate of 4%, indicating that holds its assets around 0.2 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of July 2026, Al Frank Adv returned -3.3%, which earned it a grade of F, as the Large Value category had an average return of 2.9%. 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.
Al Frank Adv has a trailing yield of 0.86%, which is below the 1.20% 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.
Al Frank Adv Grades
Year to date, the fund has returned 21.2%, 7.0 percentage points better than the category, which translates into a grade of A. The fund has returned 40.1% over the past year (grade of A), 20.7% over the past three years (grade of A) and 11.8% per year over the past five years (grade of B) and 13.1% per year over the past 10 years (grade of A).
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VALAX 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 |
|
| VALAX Return (NAV) | -3.3% | 5.1% | 40.1% | 20.7% | 11.8% | 13.1% |
| VALAX Grade | F | D | A | A | B | A |
| +/- Category | -6.2% | -1.1% | 16.3% | 5.0% | 1.0% | 1.8% |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| VALAX Tax Cost Ratio | na | na | 2.1% | 2.0% | 2.0% | 2.0% |
VALAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VALAX Return (NAV) | 21.2% | 23.5% | 13.3% | 14.1% | -13.5% | 25.0% | 10.2% | 25.8% | -7.8% | 18.0% | 15.9% |
| VALAX Grade | A | A | C | B | F | D | A | C | C | B | B |
| +/- Category | 7.0% | 8.4% | -0.8% | 2.2% | -7.4% | -0.8% | 6.4% | 0.2% | 0.6% | 1.6% | 1.3% |
| Large Value Avg | 14.3% | 15.2% | 14.1% | 11.8% | -6.0% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 14.9% |
| Total Risk Index: | 1.21 - Above Average |
| Category Risk Index: | 1.23 - High |
| Category Risk Grade: | F (100% Rank) |
| Beta: | 1.00 |
| R-Squared: | 77% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $85 Mil |
| Fund Total Assets: | $ 86 Mil |
| Share Class Type: | Adv |
| Portfolio Turnover: | 5% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 0.3 years | |||
| Average Tenure: 0.3 years | |||
| Managers (Year): Schundler Robert (2026) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 75 |
| % in Top 10 Holdings: | 26.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.9% |
Portfolio Allocation |
|
| Domestic Stock: | 93.1% |
| Foreign Stock: | 1.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.1% |
Purchase Information
| Fund Family: | Al Frank |
| Phone Number: | 888-263-6443 |
| Website: | www.alfrank.com |
| Status: | Open |
| Inception Date: | May 1, 2006 |
| Min. Initial Purchase: | $1,000 |
| 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: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.25% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | Al Frank Adv |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
