Brighthouse Asset Allocation 40 Portfolio
Data updated: 2026-08-27
C000017809 — Brighthouse Asset Allocation 40 Portfolio. United States Blend / Core Equity · $2.96B AUM. Holdings, fees, performance and SEC filings.
C000017809 Fund Overview
Brighthouse Asset Allocation 40 Portfolio is a US mutual fund managed by Brighthouse Funds Trust II, categorised as United States Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Brighthouse Funds Trust II
- Category: United States Blend / Core Equity
- Assets under management: $2.96B
- 1-year return: 10.0%
- SEC CIK: 0000710826
- SEC series ID: S000006514
- Share class ID: C000017809
C000017809 Investment Objective and Strategy
Brighthouse Asset Allocation 40 Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Brighthouse Funds Trust II.
Investment objective
High total return in the form of income and growth of capital, with a greater emphasis on income.
Principal investment strategy
The Portfolio seeks to achieve its objective by investing substantially all of its assets in Class A shares of the Underlying Portfolios, which are portfolios of Brighthouse Funds Trust II (the Trust) and Brighthouse Funds Trust I (Trust I). The Portfolio has a target allocation between the broad asset classes of equity and fixed income. Brighthouse Investment Advisers, LLC (BIA or Adviser), the adviser to the Portfolio, establishes specific target investment percentages for the asset classes and the various components of each asset category. BIA determines these target allocations based on a variety of models and factors, including its long-term outlook for the return and risk characteristics of the various asset classes and the relationships between those asset classes. BIA then selects the Underlying Portfolios in which the Portfolio invests based on, among other factors, the Underlying Portfolios investment objectives, policies, investment processes and portfolio analytical and management personnel.
Under normal circumstances, the Portfolio primarily invests in Underlying Portfolios that hold fixed income securities and also invests in Underlying Portfolios that may hold large cap, small cap, mid cap or foreign equity securities in accordance with target allocations of 60% to fixed income securities and 40% to equity securities. The following chart describes the target allocations, as of April 27, 2026, to equity and fixed income securities. You should note that these percentages do not directly correspond to investment in the equity and fixed income Underlying Portfolios because each Underlying Portfolio may contain one or more asset classes (e.g., equity and fixed income) and each Underlying Portfolio may contain various subsets of an asset class (e.g., small cap, mid cap and foreign securities).
Although the Portfolios investments in the Underlying Portfolios will be made in an attempt to achieve the target allocations, the actual allocations to equity and fixed income securities may vary from the Portfolios target allocations in the chart below. Deviations from the asset class target allocations will affect the asset class subset target allocations. In addition, the Portfolios actual allocations could vary substantially from the target allocations due to market valuation changes. Asset Class Target Allocation* Equity 40% U.S. Large Cap 18.50% U.S. Mid Cap 5% U.S. Small Cap 3.50% Foreign Equity 13% Fixed Income 60% U.S. Investment Grade 47.75% U.S. High Yield 5.75% Foreign Fixed Income 6.50% * Individual figures may not add up to the totals shown due to rounding. The Foreign Equity allocation shown above may be invested in foreign equity securities of any capitalization or country but primarily will be invested in larger capitalization companies of developed countries, and the Foreign Fixed Income allocation shown above may be invested in foreign fixed income securities of any credit quality but primarily will be invested in investment grade debt.
The Portfolio seeks to achieve current income primarily through its investments in Underlying Portfolios that invest in fixed-income securities. These investments may include Underlying Portfolios that invest in investment- grade fixed-income securities of U.S. issuers, high yield debt (commonly known as junk bonds), and foreign bonds denominated in currencies other than U.S. dollars. The Portfolio may also invest in Underlying Portfolios that invest substantially all of their assets in U.S. Government securities (e.g., obligations of the U.S. Government or its agencies or instrumentalities). The Portfolio seeks to achieve capital growth through its investments in Underlying Portfolios that invest primarily in equity securities. These investments may include Underlying Portfolios that invest mainly in stocks of large, established U.S.
and foreign companies and, to a lesser extent, in Underlying Portfolios that invest in stocks of smaller U.S. and foreign companies, including companies in emerging markets. Periodically, BIA will evaluate the Portfolios allocation between equity and fixed income, inclusive of the exposure to various investment styles and asset sectors, relative to the Portfolios risk profile. It is anticipated that any changes to the targets for the broad asset classes will be, in any given year, within a range of plus or minus 10% from the current allocations. Concurrently, BIA will consider whether to make changes to the Portfolios investments in any of the Underlying Portfolios. For additional information about the Portfolios investment strategies, the names of the Underlying Portfolios in which the Portfolio may invest and where to find more detailed information about the Portfolios investments in the Underlying Portfolios, please see Additional Information about the Portfolios Investment Strategies in the Prospectus.
C000017809 Holdings
Top 10 holdings of Brighthouse Asset Allocation 40 Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Brighthouse Fds Tr Ii | 10.29% |
| Brighthouse Fds Tr I | 10.03% |
| Brighthouse Fds Tr Ii | 8.28% |
| Brighthouse Fds Tr I | 7.78% |
| Brighthouse Fds Tr I | 5.27% |
| Brighthouse Fds Tr I | 4.26% |
| Brighthouse Fds Tr Ii | 3.78% |
| Brighthouse Fds Tr Ii | 3.53% |
| Brighthouse Fds Tr Ii | 3.30% |
| Brighthouse Fds Tr I | 3.27% |
C000017809 Portfolio Allocation
Asset-class allocation of Brighthouse Asset Allocation 40 Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 100.0% |
C000017809 Performance
Total returns for C000017809 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 4.7% |
| 1 year | 10.0% |
| 3 years (annualised) | 9.2% |
| 5 years (annualised) | 3.9% |
C000017809 Risk Information
Risk metrics for C000017809, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 6.2%
C000017809 Costs and Fees
C000017809 costs about $66 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.66%
- Gross expense ratio: 0.66%
- Portfolio turnover: 10%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000017809 Cashflows
Over the 12 months to 2026-06, Brighthouse Asset Allocation 40 Portfolio had net outflows of $341.02M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $148.32M |
| 2026-05 | −$42.94M |
| 2026-04 | −$45.02M |
| 2026-03 | −$48.83M |
| 2026-02 | −$38.67M |
| 2026-01 | −$46.94M |
C000017809 Debt Constituents
No individual debt constituents are reported in Brighthouse Asset Allocation 40 Portfolio's latest SEC N-PORT filing.
C000017809 Prospectus and SEC Filings
Official Brighthouse Asset Allocation 40 Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-24
- Prospectus (485BPOS) — filed 2025-04-25
- Prospectus (485BPOS) — filed 2024-04-25
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2026-03-11
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other United States Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.