JNL/AB Dynamic Asset Allocation Fund
Data updated: 2026-05-28
C000138277 — JNL/AB Dynamic Asset Allocation Fund. Total Return Allocation · $817.99M AUM · 0.76% expense ratio. Holdings, fees, performance and SEC filings.
C000138277 Fund Overview
JNL/AB Dynamic Asset Allocation Fund is a US mutual fund managed by JNL Series Trust, categorised as Total Return Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: JNL Series Trust
- Category: Total Return Allocation
- Assets under management: $817.99M
- 1-year return: 11.2%
- SEC CIK: 0000933691
- SEC series ID: S000044434
- Share class ID: C000138277
C000138277 Investment Objective and Strategy
JNL/AB Dynamic Asset Allocation Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by JNL Series Trust.
Investment objective
The investment objective of the Fund is to maximize total return consistent with the determination of reasonable risk and subject to the strategy’s asset class allocations.
Principal investment strategy
The Fund invests in a globally diversified portfolio of equity and debt securities, including exchange-traded funds (ETFs), and other financial instruments, and expects to enter into derivatives transactions, including, but not limited to, options, futures, forwards and swaps to achieve market exposure. The Funds neutral weighting, from which it will make its tactical asset allocations, is 70% equity exposure and 30% debt exposure. Within these broad components, the Fund may invest in any type of security, including common and preferred stocks, warrants and convertible securities, government and corporate fixed-income securities, commodities, currencies, real estate-related securities and inflation-protected securities. The Fund may invest in U.S., non-U.S. and emerging market issuers. The Fund may invest in securities of companies across the capitalization spectrum, including smaller capitalization companies.
The Fund expects its investments in fixed-income securities to have a broad range of maturities and quality levels. The Fund is expected to be highly diversified across industries, sectors and countries, and will choose its positions from several market indices worldwide in a manner that is intended to track the performance (before fees and expenses) of those indices. AllianceBernstein L.P. (Sub-Adviser) will continuously monitor the risks presented by the Funds asset allocation and may make frequent adjustments to the Funds exposures to different asset classes. Using its proprietary Dynamic Asset Allocation techniques, the Sub-Adviser will adjust the Funds exposure across or within asset classes in response to the Sub-Advisers assessment of the relative risks and returns. For example, when the Sub-Adviser determines that equity market volatility is particularly low and that, therefore, the equity markets present reasonable return opportunities, the Sub-Adviser may increase the Funds equity exposure to as much as 90%.
Conversely, when the Sub-Adviser determines that the risks in the equity markets are disproportionately greater than the potential returns offered, the Sub-Adviser may reduce the Funds equity exposure significantly below the target percentage or may even decide to eliminate equity exposure altogether by increasing the Funds fixed-income exposure to 100%. The Fund expects to utilize derivatives and to invest in ETFs to a significant extent. Derivatives and ETFs may provide more efficient and economical exposure to market segments than direct investments, and the Funds market exposures may at times be achieved almost entirely through the use of derivatives or through the investments in ETFs. Derivatives transactions and ETFs may also be a quicker and more efficient way to alter the Funds exposure than buying and selling direct investments.
As a result, the Sub-Adviser expects to use derivatives as one of the primary tools for adjusting the Funds exposure levels from its neutral weighting. The Sub-Adviser also expects to use direct investments and ETFs to adjust the Funds exposure levels. Currency exchange rate fluctuations can have a dramatic impact on returns, significantly adding to returns in some years and greatly diminishing them in others. To the extent that the Fund invests in non-U.S. Dollar-denominated investments, the Sub-Adviser will integrate the risks of foreign currency exposures into its investment and asset allocation decision making. The Sub-Adviser may seek to hedge all or a portion of the currency exposure resulting from the Funds investments. The Sub-Adviser may also seek investment opportunities through currencies and currency-related derivatives.
Generally, the Fund invests in futures contracts, futures-related instruments, forwards, swaps and options to provide exposure to asset classes including, but not limited to, global developed and emerging equity, fixed-income and currencies (collectively, Instruments). The Fund will also seek to gain exposure to commodity related instruments primarily by investing in JNL/AB Dynamic Asset Allocation Fund Ltd. (Subsidiary), which invests primarily in those futures and swaps (as described more fully below). These Instruments may be used for investment or speculative purposes, hedging or as a substitute for investing in conventional securities. The Fund may also invest in fixed-income securities, money market instruments, and cash. There are no geographic limits on the market exposure of the Funds assets.
This flexibility allows Sub-Adviser to look for investments or gain exposure to asset classes and markets around the world, including emerging markets, that it believes will enhance the Funds ability to meet its objective. The Fund may invest up to 25% of the value of its total assets in the Subsidiary. The Subsidiary is a wholly owned and controlled subsidiary of the Fund, organized under the laws of the Cayman Islands as an exempted company. Generally, the Subsidiary invests primarily in precious metals, commodity futures and swaps on commodity futures, but it may also invest in financial futures, option and swap contracts, fixed-income securities, pooled investment vehicles, including those that are not registered pursuant to the 1940 Act, and other investments intended to serve as margin or collateral for the Subsidiarys derivative positions.
The Fund invests in the Subsidiary in order to gain exposure to the commodities markets within the limitations of the federal tax laws, rules and regulations that apply to regulated investment companies (RICs).
C000138277 Holdings
Top 10 holdings of JNL/AB Dynamic Asset Allocation Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| JNL Government Money Market Fund | 5.68% |
| JPMorgan Income ETF | 4.31% |
| NVIDIA Corporation | 2.07% |
| Treasury, United States Department of | 1.63% |
| Taiwan Semiconductor Manufacturing Company Limited | 1.33% |
| Bundesrepublik Deutschland | 1.31% |
| Apple Inc. | 1.20% |
| Bundesrepublik Deutschland | 1.19% |
| HM Treasury | 1.18% |
| Microsoft Corporation | 1.11% |
C000138277 Portfolio Allocation
Asset-class allocation of JNL/AB Dynamic Asset Allocation Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 54.3% |
| Fixed Income | 36.1% |
| Cash & Equivalents | 7.1% |
| Securitized | 0.5% |
C000138277 Performance
Total returns for C000138277 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -3.3% |
| 1 year | 11.2% |
| 3 years (annualised) | 9.1% |
| 5 years (annualised) | 3.7% |
C000138277 Risk Information
Risk metrics for C000138277, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.6%
C000138277 Costs and Fees
C000138277 costs about $76 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.76%
- Gross expense ratio: 0.78%
- Portfolio turnover: 100%
- Brokerage commissions: 3.49 bps of average net assets (SEC N-CEN)
C000138277 Cashflows
Over the 12 months to 2026-03, JNL/AB Dynamic Asset Allocation Fund had net outflows of $156.24M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-03 | −$11.16M |
| 2026-02 | −$12.40M |
| 2026-01 | −$13.00M |
| 2025-12 | −$13.44M |
| 2025-11 | −$14.13M |
| 2025-10 | −$15.65M |
C000138277 Debt Constituents
Largest debt holdings of JNL/AB Dynamic Asset Allocation Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Treasury, United States Department of | 1.63% |
| Bundesrepublik Deutschland | 1.31% |
| Bundesrepublik Deutschland | 1.19% |
| HM Treasury | 1.18% |
| Cabinet Office, Government of Japan | 0.75% |
| Gobierno Federal de los Estados Unidos Mexicanos | 0.74% |
| Ontario, Government of | 0.59% |
| Bundesrepublik Deutschland | 0.51% |
| Segretariato Generale Della Presidenza Della Repubblica | 0.41% |
| Sandor-Palota | 0.34% |
C000138277 Prospectus and SEC Filings
Official JNL/AB Dynamic Asset Allocation Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-04-24
- Prospectus (485BPOS) — filed 2024-04-26
- Prospectus (485BPOS) — filed 2023-04-27
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-25
- Portfolio holdings (N-PORT) — filed 2025-11-25
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-14
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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.