XFLX

XFLX is a fund-of-funds that aims to benefit from bond market leadership trends. The fund pursues a flexible approach to fixed income investing that is based on the adviser's perception of the market. The portfolio primarily consists of bond funds perceived to be in sync with market leaders. These funds hold US and non-US fixed income securities of any credit quality and maturity. To a lesser extent, the fund may also invest a portion of its assets in total return funds, which utilize different investment strategies such as blending equity and fixed income securities, and techniques designed to provide steady income and low volatility. Total return funds typically have less credit and interest rate risk since they are not fully invested in bonds. As an actively managed fund, the adviser has full discretion to adjust portfolio positions towards more attractive investments. On October 9, 2023, XFLX converted from a mutual fund to an ETF structure, starting with $58.8 million in assets.