VLFVT — Value Line Vip Equity Advantage Fund
Data updated: 2020-08-21
VLFVT — Value Line Vip Equity Advantage Fund. Emerging Markets Value Equity · $1.70M AUM · 2.81% expense ratio. Holdings, fees, performance and SEC filings.
VLFVT Fund Overview
VLFVT — Value Line Vip Equity Advantage Fund is a US mutual fund managed by Value Line Funds Variable Trust, categorised as Emerging Markets Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Value Line Funds Variable Trust
- Category: Emerging Markets Value Equity
- Assets under management: $1.70M
- 1-year return: -18.6%
- Ticker: VLFVT
- SEC CIK: 0000819978
- SEC series ID: S000047482
- Share class ID: C000149090
VLFVT Investment Objective and Strategy
Value Line Vip Equity Advantage Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Value Line Funds Variable Trust.
Investment objective
The Funds primary investment objective is capital appreciation.
Principal investment strategy
The Fund, under normal circumstances, will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity or equity-related securities (such as preferred stocks). This policy may be changed by the Board of Trustees without shareholder approval upon 60 days notice to shareholders. The Fund primarily invests in a diversified basket of U.S. closed-end funds, which the Adviser believes offer opportunities for growth and dividend income. To a lesser extent, the Fund invests in exchange traded funds or ETFs and preferred stocks. Because the Fund invests primarily in closed-end funds and to a lesser extent ETFs, the Fund is similar in nature to a fund of funds. However, unlike a fund of funds that allocates its assets based on the perceived ability of the advisers to the underlying funds, the Adviser actively manages the Funds portfolio among the underlying closed-end funds based on its research and analysis of the market and the investment merit of the underlying closed-end funds themselves.
A closed-end fund is an investment company that has a fixed number of shares which, unlike mutual funds, are not redeemable from the fund. Instead shares of closed-end funds can be purchased and sold only in the securities markets. Similar to mutual funds, closed-end funds can invest in a variety of stocks, bonds and other financial instruments, and closed-end funds often focus their investments on particular sectors, markets, regions and industries. An ETF is an investment company that generally seeks to track the performance of a specific market index. These indices include broad-market indices (such as the S&P 500 Index or the Bloomberg Barclays US Aggregate Bond Index) and narrow market indices, including those relating to particular sectors, markets, regions and industries. The Fund may also invest in actively managed ETFs and ETFs utilizing leverage to attempt to outperform a stated benchmark.
The Adviser selects ETFs based on their ability to offer specific asset class, sector and style exposure in a cost- and tax-efficient manner. The Fund invests in closed-end funds that primarily invest in equity and dividend income-producing securities. The Adviser uses the following multi-step process to build and manage the portfolio. The portfolio construction process begins with a proprietary model that ranks all closed-end funds that invest in equity and dividend income producing securities according to a number of factors, including both technical and valuation-driven criteria. The model also filters out the closed-end funds which have extreme or excessive values with respect to characteristics that the Adviser identifies as relevant in selecting a universe of potential buying opportunities with unique investment value.
For example, closed-end funds that trade at a premium or have leverage ratios that the Adviser identifies as excessive will be screened out during the quantitative selection process. The model also considers, among other factors, the turnover of a closed-end funds portfolio to avoid investment in funds that engage in excessive trading as well as the trading volume of the shares of the closed-end fund to ensure there is an appropriate level of liquidity. After the initial screening process, the Adviser then qualitatively analyzes the closed-end funds remaining on the list generated by the proprietary model, including, but not limited to, reviewing each funds management, portfolio allocations, and economic assessment. In addition, the Adviser attempts to identify potential tactical opportunities.
The Adviser may select closed-end funds that have been pared from the list if the Adviser believes they offer attractive investment opportunities for growth or dividend income not adequately reflected in their ranking by the proprietary model. The Fund also may invest in equities and equity-related securities, such as ETFs and preferred stocks, that are not ranked by Value Lines proprietary model but meet the Funds investment objectives. The Funds investment in any one underlying fund is not expected to exceed, under normal conditions, 10% of the Funds total assets. The Funds underlying closed-end funds and ETFs may invest in companies of any market capitalization and, directly or indirectly, in securities of issuers located outside of the United States, including emerging markets. The Adviser anticipates that most of the Funds underlying closed-end funds and ETFs will invest primarily in U.S.
companies. The closed-end funds and ETFs in which the Fund invests may engage in a variety of investment techniques, such as selling securities short and leveraging their portfolios to magnify the effect of changes in the value of their investments, and/or to benefit from (or protect against) an anticipated decline in the value of their investments. The Investment Company Act of 1940 (the 1940 Act) restricts investments by registered investment companies, such as the Fund, in the securities of other investment companies, including closed-end funds and ETFs. However, pursuant to exemptive orders issued by the Securities and Exchange Commission (the SEC) to various ETF sponsors, the Fund is permitted to invest in these ETFs beyond the limits set forth in the 1940 Act subject to certain terms and conditions set forth in the applicable exemptive order, including a condition that the Fund enter into an agreement with the relevant ETF sponsor prior to investing beyond the 1940 Acts limits.
The Adviser may sell a security for a variety of reasons including when it believes the securitys valuation has become less attractive, a less favorable ranking by the model, or more attractive opportunities are identified.
VLFVT Performance
Total returns for VLFVT (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -18.6% |
VLFVT Risk Information
Risk metrics for VLFVT, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 30.9%
VLFVT Costs and Fees
VLFVT costs about $281 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.81%
- Gross expense ratio: 7.47%
- Portfolio turnover: 86%
- Brokerage commissions: 10.59 bps of average net assets (SEC N-CEN)
VLFVT Cashflows
Over the 12 months to 2020-06, Value Line Vip Equity Advantage Fund had net outflows of $145.50K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-06 | −$51.11K |
| 2020-05 | −$4.35K |
| 2020-04 | −$12.38K |
| 2020-03 | −$30.84K |
| 2020-02 | −$102.00K |
| 2020-01 | −$17.72K |
VLFVT Debt Constituents
No individual debt constituents are reported in Value Line Vip Equity Advantage Fund's latest SEC N-PORT filing.
VLFVT Prospectus and SEC Filings
Official Value Line Vip Equity Advantage Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-05-12
- Prospectus (485BPOS) — filed 2019-05-07
- Prospectus (485BPOS) — filed 2018-05-18
- Portfolio holdings (N-PORT) — filed 2020-08-21
- Portfolio holdings (N-PORT) — filed 2020-05-28
- Portfolio holdings (N-PORT) — filed 2020-02-19
- Annual census (N-CEN) — filed 2020-03-06
- Annual census (N-CEN) — filed 2019-03-15
Related Funds
Other Emerging Markets Value 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.