FLEIX — CLS Flexible Income Fund
Data updated: 2021-12-29
FLEIX — CLS Flexible Income Fund. Money Market · $140.25M AUM · 1.07% expense ratio · 2.9% 1-yr return. Holdings, fees, performance and SEC filings.
FLEIX Fund Overview
FLEIX — CLS Flexible Income Fund is a US mutual fund managed by Advisorone Funds, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Advisorone Funds
- Category: Money Market
- Assets under management: $140.25M
- 1-year return: 2.9%
- Ticker: FLEIX
- SEC CIK: 0001029068
- SEC series ID: S000026622
- Share class ID: C000205639
FLEIX Investment Objective and Strategy
CLS Flexible Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advisorone Funds.
Investment objective
The investment objective is total return, consisting of income and capital growth, consistent with preservation of capital.
Principal investment strategy
Under normal circumstances, the Fund primarily invests in exchange traded funds (ETFs), other open-end mutual funds, and closed-end funds that invest in fixed income securities. This group of investments is referred to as Underlying Funds. The Funds investment adviser, CLS Investments, LLC (CLS), seeks to achieve the Funds investment objective by using the following investment strategies: ? Investing primarily in Underlying Funds that invest in investment grade fixed income securities with no limit on average duration. Duration is a measure of the expected life of a fixed income security that is used to determine the sensitivity of a securitys price to changes in interest rates. ? Investing up to 33% of the Funds total assets in Underlying Funds that invest in lower quality, high-yielding debt securities (commonly referred to as junk bonds), including ETFs that invest in junk bonds.
Junk bonds are bonds rated Ba by Moodys, BB by S&P, or lower. ? Investing up to 33% of the Funds total assets in Underlying Funds that invest in debt and equity securities of foreign issuers, including securities denominated in foreign currencies, and U.S. dollar denominated securities of foreign issuers. Fixed income securities primarily include: ? securities issued or guaranteed by the U.S. Government, its agencies or government-sponsored enterprises (U.S. Government Securities); ? corporate debt securities of U.S. and non-U.S. issuers, including convertible securities and corporate commercial paper; ? debt securities issued by states or local governments and their agencies, authorities and other government-sponsored enterprises; ? obligations of non-U.S. governments or their subdivisions, agencies and government-sponsored enterprises, international agencies or supranational entities.
The Fund does not invest in securities that are unrated or in default. The total return sought by the Fund consists of income earned on the Funds investments, plus capital appreciation, if any, which generally arises from decreases in interest rates, foreign currency appreciation or improving credit fundamentals for a particular sector or security. While the Fund primarily invests in ETFs and Underlying Funds that invest in fixed income securities, because the Fund may also invest the balance of its portfolio across other asset classes and is invested to maintain a relatively consistent level of risk, the Funds risk budget benchmark is included to provide a better performance comparison than a broad-based, single asset class benchmark. The Funds risk budget benchmark is comprised 20% of a diversified equity portfolio and 80% of the 1-3 month U.S.
Treasury Index. The diversified equity portfolio is further weighted 60% of the Russell 3000 Index and 40% of the MSCI ACWI (ex-US). The weightings against this benchmark are consistent with the risk level of the Fund and these indexes are utilized to reflect the Funds broad exposure to the global equity market. The Russell 3000 Index is an index that measures 98% of the investable U.S. equity market. The MSCI ACWI (ex-US) is an index that provides a broad measure of stock performance throughout the world, with the exception of U.S.-based equities. The index includes both developed and emerging markets. In selecting securities for the Fund, CLS develops an outlook for interest rates, currency exchange rates and the economy; analyzes credit and call risks, and uses other security selection techniques.
The proportion of the Funds assets committed to investment in securities with particular characteristics (such as quality, sector, interest rate or maturity) varies based on CLSs outlook for the U.S. economy and the economies of other countries in the world, the financial markets and other factors. Corporate debt may be issued by companies of any capitalization. CLS attempts to identify areas of the bond market that are undervalued relative to the rest of the market. CLS identifies these areas by grouping bonds into sectors such as money markets, governments, corporate, and international. Once investment opportunities are identified, CLS will sell securities and shift assets among sectors depending upon changes in valuations and bond yields.
FLEIX Performance
Total returns for FLEIX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 2.9% |
| 3 years (annualised) | 2.9% |
FLEIX Risk Information
Risk metrics for FLEIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.6%
FLEIX Costs and Fees
FLEIX costs about $107 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.07%
- Gross expense ratio: 1.07%
- Portfolio turnover: 34%
- Brokerage commissions: 0.97 bps of average net assets (SEC N-CEN)
FLEIX Cashflows
Over the 12 months to 2021-10, CLS Flexible Income Fund had net inflows of $134.70M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-10 | $4.50M |
| 2021-09 | $17.71M |
| 2021-08 | $4.70M |
| 2021-07 | $17.54M |
| 2021-06 | $12.84M |
| 2021-05 | $21.57M |
FLEIX Debt Constituents
No individual debt constituents are reported in CLS Flexible Income Fund's latest SEC N-PORT filing.
FLEIX Prospectus and SEC Filings
Official CLS Flexible Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-09-13
- Prospectus (485BPOS) — filed 2020-09-16
- Prospectus (485BPOS) — filed 2019-09-13
- Portfolio holdings (N-PORT) — filed 2021-12-29
- Portfolio holdings (N-PORT) — filed 2021-09-29
- Portfolio holdings (N-PORT) — filed 2021-06-25
- Annual census (N-CEN) — filed 2021-07-14
- Annual census (N-CEN) — filed 2020-07-14
Related Funds
Other Money Market 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.