Fund Evaluator:

NAA Allocation C Overview

NAA Allocation C (TVRCX) is an actively managed Allocation Moderately Aggressive Allocation fund. New Age Alpha Advisors LLC launched the fund in 2012.

The investment seeks long-term capital growth. Under normal circumstances, the fund uses a balanced approach to invest in a broad range of securities, including equity, debt, and securities issued and guaranteed by the U.S. government and federal agencies and instrumentalities. The fund’s asset allocation strategy diversifies equity securities and fixed-income investments. The fund employs a proprietary quantitative model to determine the exposure between equity and fixed income to participate in rising markets while attempting to preserve capital during market declines.

About NAA Allocation C (TVRCX)

There are 6 members of the management team with an average tenure of 2.63 years: Julian Koski (2024), Armen Arus (2024), Gennadiy Khayutin (2025), Burak Hurmeydan (2018), Konstantin Tourevski (2024), Hugo Chang (2024). 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 Morningstar Moderate Alloca Cat index with a weighting of 100%. NAA Allocation C has 177 securities in its portfolio. The top 10 holdings constitute 27.1% 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.

NAA Allocation C is part of the Allocation global asset class and is within the Allocation fund group. NAA Allocation C has 2.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 78.6%. There is 0.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 19.9% (18.6% domestic bond, 1.3% foreign bond and 0.0% convertible bond). NAA Allocation C has 0.8% of the portfolio in cash.

Assets Under Management

The fund has $5 million in total assets, which is below the $545 million average for the Moderately Aggressive 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.

TVRCX 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 NAA Allocation C expense ratio is high compared to funds in the Moderately Aggressive Allocation category. NAA Allocation C has an expense ratio of 2.07%, which is 102% 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. NAA Allocation C has a portfolio turnover rate of 87%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 34% for the Moderately Aggressive Allocation category.

Recently, in the month of June 2026, NAA Allocation C returned 0.1%, which earned it a grade of D, as the Moderately Aggressive Allocation category had an average return of 0.5%. 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.

NAA Allocation C has a trailing yield of 0.00%, which is below the 1.55% 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.

NAA Allocation C Grades

Year to date, the fund has returned 10.8%, 0.5 percentage points better than the category, which translates into a grade of B. The fund has returned 20.3% over the past year (grade of C), 18.4% over the past three years (grade of B) and 8.8% per year over the past five years (grade of C) and 10.7% per year over the past 10 years (grade of C).

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