Fund Evaluator:

Wilmington Real Asset Institutional Overview

Wilmington Real Asset Institutional (WMRIX) is an actively managed Allocation Global Moderate Allocation fund. Wilmington Funds launched the fund in 2003.

The investment seeks to achieve long-term preservation of capital with current income. The fund, under normal circumstances, invests at least 80% of the value of its net assets in "real return" assets. The Advisor anticipates allocating approximately 0%-80% to inflation-protected debt securities, 0%-80% to real estate-related securities and 0%-60% to commodity/natural resource-related securities. The fund utilizes a multi-manager strategy in which the Advisor allocates and reallocates varying portions of the fund's assets among a number of sub-advisors, or invests directly in ETFs or other instruments in pursuit of the fund's investment strategies.

About Wilmington Real Asset Institutional (WMRIX)

There are 5 members of the management team with an average tenure of 5.08 years: Matthew Glaser (2017), XiaoZhen Li (2024), Jordan Strauss (2015), Jennifer Mihara (2024), Ben Davis (2025). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Wilmington Real Asset Institutional has 433 securities in its portfolio. The top 10 holdings constitute 65.8% 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.

Wilmington Real Asset Institutional is part of the Allocation global asset class and is within the Allocation fund group. Wilmington Real Asset Institutional has 27.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 35.6%. There is 19.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 28.1% (20.4% domestic bond, 7.7% foreign bond and 0.0% convertible bond). Wilmington Real Asset Institutional has 11.7% of the portfolio in cash.

Assets Under Management

The fund has $458 million in total assets, which is below the $947 million average for the Global 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.

WMRIX 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 Wilmington Real Asset Institutional expense ratio is above average compared to funds in the Global Moderate Allocation category. Wilmington Real Asset Institutional has an expense ratio of 0.75%, which is 28% lower than its category average, making the fund expense ratio grade a B. 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. Wilmington Real Asset Institutional has a portfolio turnover rate of 7%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 64% for the Global Moderate Allocation category.

Recently, in the month of July 2026, Wilmington Real Asset Institutional returned 4.5%, which earned it a grade of A, as the Global 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.

Wilmington Real Asset Institutional has a trailing yield of 6.12%, which is above the 2.61% category average. The fund normally distributes its income quarterly 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.

Wilmington Real Asset Institutional Grades

Year to date, the fund has returned 16.5%, 8.3 percentage points better than the category, which translates into a grade of A. The fund has returned 24.4% over the past year (grade of A), 11.2% over the past three years (grade of D) and 5.8% per year over the past five years (grade of C) and 5.6% per year over the past 10 years (grade of F).

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