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ASTON Dynamic Allocation Fund

 NI
CUSIP00080Y76900080Y637
TickerASENXADNAX
Share Class Inception1/10/200811/2/2010
Gross Exp Ratio (%)1.781.53
Net Exp Ratio (%)1.31.05
NAV8.508.51
NAV Change 0.12 0.12
Benchmark MSCI World Ex-US Index- 35%, Russell 3000 Index- 35%, Barclays Capital Aggregate Bond Index - 30%
Morningstar Category Conservative Allocation

Overall Morningstar Rating

ASTON Dynamic Allocation Fund  Shares received a Morningstar rating.

Among 843 Moderate Allocation funds derived from a weighted average of the Fund’s 3-, 5- and 10-year risk-adjusted returns as of 12/31/11.

Portfolio Manager

Bryce  James

Bryce James

Mr. James co-founded Smart Portfolios, LLC in 2002 and serves as President and Chief Compliance Officer. He has more than 26 years of investment experience, most recently as a partner and founder of Shield Investment Advisors, a fixed-income fund of hedge funds. Prior to Shield, he was a Senior Vice President with Morgan Stanley. He received a BS in Accounting, Finance and Marketing from Central Washington University.


  • Fund Class N Shares (ASENX)
  • Fund Class I Shares (ADNAX)
  • MSCI World Ex-US Index- 35%, Russell 3000 Index- 35%, Barclays Capital Aggregate Bond Index - 30%
  • Category: Moderate Allocation
Average Annual Total Returns
  Monthly returns (%) Period ended 12/31/11   Annualized Returns (%)
 
  Month3 MonthsYTD 1 yr3 yr5 yr10 yrSince Incept.Incept. Date
Fund Class N Shares (ASENX)-1.81-0.55-1.18 -1.189.07N/AN/A1.421/10/2008
Fund Class I Shares (ADNAX)-1.76-0.51-0.93 -0.93N/AN/AN/A3.9111/2/2010
MSCI World Ex-US Index- 35%, Russell 3000 Index- 35%, Barclays Capital Aggregate Bond Index - 30% 0.245.85-1.49 -1.4910.74N/AN/A-0.8112/31/2007
Category: Moderate Allocation0.406.69-0.11 -0.1111.541.333.93-0.2212/31/2007
Calendar year-end returns
  2011201020092008200720062005200420032002
Fund Class N Shares (ASENX)-1.189.2920.14N/AN/AN/AN/AN/AN/AN/A
Fund Class I Shares (ADNAX)-0.93N/AN/AN/AN/AN/AN/AN/AN/AN/A
MSCI World Ex-US Index- 35%, Russell 3000 Index- 35%, Barclays Capital Aggregate Bond Index - 30% -1.4911.5423.60N/AN/AN/AN/AN/AN/AN/A
The performance data quoted represents past performance. Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that an investor's shares upon redemption may be worth more or less than their original cost. Certain expenses were subsidized. If these subsidies were not in effect, the returns would have been lower. The adviser is contractually obligated to waive management fees and/or reimburse expenses through February 28, 2012. Current performance may be lower or higher than the performance data quoted.

For periods less than one-year, total returns are reported; for periods more than one-year, average annual total returns are reported.

MSCI World Ex-US Index is a free float-adjusted market capitalization index that is designed to measure global developed market equity performance excluding the US.



The Russell 3000 Index offers investors access to the broad U.S. equity universe representing approximately 98% of the U.S. market. The Russell 3000 Index is constructed to provide a comprehensive, unbiased and stable barometer of the broad market and is completely reconstituted annually to ensure new and growing equities are reflected. Indices are adjusted for the reinvestment of capital gains and income dividends. Individuals cannot invest in an index.



Barclays U.S. Aggregate Bond Index is an unmanaged index representing more than 5,000 taxable government, investment-grade corporate and mortgage-backed securities. Indices are adjusted for the reinvestment of capital gains and income dividends. Individuals cannot invest in an index.
The Morningstar Moderate Allocation Category figures allow for a direct comparison of a fund’s performance within its Morningstar Category.

Morningstar Rating™ (based on risk-adjusted returns) and Morningstar Rankings™ (based on total returns)
Moderate Allocation Category as of 12/31/2011
  Overall 1 yr   3 yr   5 yr   10 yr
  Rating Rank   Rating Rank   Rating Rank   Rating Rank
Fund Class N Shares (ASENX)2 Stars61 2 Stars90 N/AN/A N/AN/A
Fund Class I Shares (ADNAX)N/A58 N/AN/A N/AN/A N/AN/A
Total # funds in category 843 963   843   N/A   N/A
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars,the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted-average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.© Morningstar, Inc.

The highest or most favorable Morningstar percentile rank is 1 and the lowest percentile rank is 100. The top-performing fund in a category will always receive a rank of 1. Various rating agencies categorize funds differently. Past performance is no guarantee of future results.

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