AVIP Constellation Managed Risk Balanced Portfolio
Data updated: 2026-08-26
C000218947 — AVIP Constellation Managed Risk Balanced Portfolio. Holdings, fees, performance and SEC filings.
C000218947 Fund Overview
AVIP Constellation Managed Risk Balanced Portfolio is a US mutual fund managed by Ohio National Fund INC, categorised as United States Multi-Cap / All-Cap 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: Ohio National Fund INC
- Category: United States Multi-Cap / All-Cap Blend / Core Equity
- Assets under management: $487.65M
- 1-year return: 14.4%
- SEC CIK: 0000315754
- SEC series ID: S000068473
- Share class ID: C000218947
C000218947 Investment Objective and Strategy
AVIP Constellation Managed Risk Balanced Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ohio National Fund INC.
Investment objective
Seeks income and capital appreciation.
Principal investment strategy
The Portfolio operates pursuant to a fund-of-funds structure. The Portfolios adviser, Constellation Investments, Inc. (CINV or the Adviser) allocates the Portfolios assets across a broad range of asset classes primarily through investments in unaffiliated, actively or passively managed exchange traded funds commonly referred to as ETFs (the underlying ETFs). The Portfolio may also invest in certain derivative instruments directly, including equity futures and options and swap contracts, fixed income futures and options and swap contracts, to hedge risk and to increase returns, and may hold cash and cash equivalents to change the asset allocation exposure in the Portfolio. Through investments in the underlying ETFs and derivatives, the Portfolio invests a minimum of 25% of its assets in equity investments and a minimum of 25% of its assets in fixed income investments.
CINV expects to allocate approximately 50% of the Portfolios assets to fixed income investments to achieve the income aspect of the Portfolios investment objective. To achieve the capital appreciation aspect of the Portfolios investment objective, CINV expects to allocate approximately 50% of the Portfolios assets to equity investments. CINV may actively adjust this asset allocation mix in response to prevailing market conditions and in periods of heightened volatility, as described below. The equity underlying ETFs in which the Portfolio invests may include ETFs that invest in, among other things, domestic and international common stocks (including equities of issuers from countries included in the MSCI Emerging Markets Index). The fixed income underlying ETFs in which the Portfolio invests may include ETFs that invest in, among other things, domestic and non-U.S.
bonds, U.S. government securities, U.S. Treasury securities, mortgage- backed securities, asset-backed securities, corporate bonds, fixed income instruments with an average credit quality below investment grade (commonly called junk bonds), and cash or money market instruments. The fixed income ETFs in which the Portfolio may invest are not limited by maturity or duration. Within its allocation to fixed income investments, the Portfolio may invest up to 15% of total assets in junk bonds, including fixed income underlying funds with an average portfolio credit quality below investment grade. CINV relies on a blend of both fundamental research and quantitative insights to determine potential opportunities and tactical reallocations that tilt the Portfolio away from the strategic allocation. As a temporary measure, CINV may hold cash and cash equivalents.
While the Portfolio may invest substantially all of its assets in underlying ETFs, equity futures and options and swap contracts, fixed income futures and options and swap contracts, and other derivatives, CINV maintains sufficient cash to serve as collateral for the equity and fixed income futures it holds. During periods of high volatility CINV will apply a systematic framework by adjusting the Portfolios exposures to attempt to reduce the likelihood of exceeding the maximum expected portfolio volatility. Portfolio volatility is the measure of how much the Portfolios returns differ from its average returns. The Portfolio has a volatility cap of 11%. During periods of increasing expected volatility, the Portfolio may seek to reduce its market exposure by selling shares of underlying ETFs and/or reducing exposure through equity futures and options and swap contracts, and/or fixed income futures and options and swap contacts, and other derivatives.
During periods of lower expected volatility, the Portfolio may increase its market exposure by purchasing ETFs and/or increasing exposure through equity futures and options and swap contracts and/or fixed income futures and options and swap contracts, and other derivatives. The Portfolio may invest in illiquid securities up to the limits established under the Investment Company Act of 1940, as amended.
C000218947 Holdings
Top 10 holdings of AVIP Constellation Managed Risk Balanced Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Ishares Trust | 35.96% |
| Ishares Trust | 26.16% |
| Ishares Trust | 5.58% |
| Vanguard Index Funds | 5.35% |
| Invesco Qqq Trust, Series 1 | 4.83% |
| Ishares Trust | 4.32% |
| Vanguard Index Funds | 4.17% |
| Ishares Trust | 3.24% |
| Spdr Series Trust | 2.74% |
| Ishares Trust | 1.94% |
C000218947 Portfolio Allocation
Asset-class allocation of AVIP Constellation Managed Risk Balanced Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.0% |
C000218947 Performance
Total returns for C000218947 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 6.9% |
| 1 year | 14.4% |
| 3 years (annualised) | 11.6% |
| 5 years (annualised) | 5.3% |
C000218947 Risk Information
Risk metrics for C000218947, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.1%
C000218947 Costs and Fees
C000218947 costs about $64 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.64%
- Gross expense ratio: 0.64%
- Portfolio turnover: 21%
- Brokerage commissions: 0.64 bps of average net assets (SEC N-CEN)
C000218947 Cashflows
Over the 12 months to 2026-06, AVIP Constellation Managed Risk Balanced Portfolio had net outflows of $39.93M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $34.93M |
| 2026-05 | −$7.28M |
| 2026-04 | −$9.20M |
| 2026-03 | −$8.35M |
| 2026-02 | −$6.98M |
| 2026-01 | −$6.96M |
C000218947 Debt Constituents
No individual debt constituents are reported in AVIP Constellation Managed Risk Balanced Portfolio's latest SEC N-PORT filing.
C000218947 Prospectus and SEC Filings
Official AVIP Constellation Managed Risk Balanced Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-29
- Prospectus (485BPOS) — filed 2025-12-05
- Prospectus (485BPOS) — filed 2025-04-29
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-07
Related Funds
Other United States Multi-Cap / All-Cap 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.