Aggressive Allocation

Overview

Investment Objective

James Aggressive Allocation Fund seeks to provide total return through a combination of growth and income. Preservation of capital in declining markets is a secondary objective.

Fund Resources

Factsheet

Asset Allocation01/01/1970

Fund Operating Expenses11/01/2023

Quick Stats07/31/2023

2.37%

Avg. Annual Return

13.51%

YTD Return

$11.02

Daily Price
09/25/2023

$20 M

Net Assets

Previous Month04/30/24

High: $0

Low: $0

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Minimum individual investment: $10,000.

Investment Strategy

The James Aggressive Allocation Fund is a portfolio comprised of both equity and debt securities that seeks return primarily through growth and income and secondarily through preservation of capital. Under normal circumstances, the Fund invests primarily in equity securities of foreign and domestic companies that the Adviser believes are undervalued, and in high quality fixed income securities. The Fund will normally hold both equity securities and fixed income securities, with typically at least 60% of its assets in equity securities and at least 15% of its assets in fixed income securities. On occasion, the Fund could hold as little as 50% in equity securities or as high as 100%.

Equity securities that the Fund will principally invest in are common stocks, preferred stocks and exchange traded funds ("ETFs") that invest primarily in equity securities. Some or all of the equity portion of the Fund may be invested in small and micro capitalization companies. Fixed income securities that the Fund will principally invest in are U.S. government securities, corporate bonds, municipal bonds and/or sovereign bonds of any maturity, as well as ETFs that invest primarily in such securities. Any non-U.S. government securities in the Fund's portfolio will consist primarily of issues rated "Baa2" or better by Moody's Investors Service, Inc. ("Moody's") or "BBB" or better by Standard & Poor's Ratings Group ("S&P") and unrated securities determined by the Adviser to be of equivalent quality, as well as high quality money market instruments.

Daily Prices (NAV)09/25/2023

Prices are usually updated each business day by 7 pm EST.

Ticker	Expense Ratio	Price / Share	$ Change	% Change		52 Week High	52 Week Low
JAVAX	1.04%	11.02	0.03	0.27		11.54	10.55

Start Date

End Date

Fund Performance

View Monthly View Quarterly

		Daily Price & YTD ReturnData as of 09/25/2023			Total % ReturnData as of 08/31/2023			Average AnnualTotal % Return as of 08/31/2023
Fund Name	Ticker	Price / Share	$ Change	YTD	YTD	1 Mo	3 Mo	1 Yr	3 Yr	5 Yr	10 Yr	S.I. ^***
Aggressive Allocation Inception Date: 07/01/2015 Total Expense Ratio: (1.04%)	JAVAX	11.02	0.03	9.43	13.51	-0.95	6.62	13.33	5.53	1.51	-	2.37
Russell 3000 Index					18.01	-1.93	8.52	14.76	9.81	10.25	-	11.34
James Aggressive Blend Index					11.99	-1.47	5.16	9.23	5.20	7.50	-	8.17

		Daily Price & YTD ReturnData as of 09/25/2023			Total % ReturnData as of 06/30/2023			Average AnnualTotal % Return as of 06/30/2023
Fund Name	Ticker	Price / Share	$ Change	YTD	YTD	1 Mo	3 Mo	1 Yr	3 Yr	5 Yr	10 Yr	S.I. ^***
Aggressive Allocation Inception Date: 07/01/2015 Total Expense Ratio: (1.04%)	JAVAX	11.02	0.03	9.43	11.12	4.38	5.77	15.02	7.30	1.75	-	2.15
65% Russell 3000 Index 35% Barclays U.S. Govt.					11.16	4.33	5.09	12.00	7.54	8.05	-	8.08
Russell 3000 Index					16.17	6.83	8.39	18.95	13.89	11.39	-	11.37
VettaFi US Equity 3000 Index					16.09	6.83	8.35	18.89	14.53	11.83	-	11.63
James Aggressive Blend Index					11.11	4.33	5.07	11.96	7.94	8.33	-	8.24
Bloomberg Gov't/Credit Index					2.21	-0.32	-0.93	-0.70	-4.11	1.03	-	1.38

* 65% VettaFi US Equity 3000 Total Return Index / 35% Bloomberg U.S. Aggregate Government/Credit Bond Index

*** Since Inception 7/1/2015

^ Prior to 5/1/23 the blended benchmark had consisted of a 65% weighting in the Russell 3000® Index and a 35% weighting in the Bloomberg U.S. Aggregate Government/Credit Bond Index.

The performance data quoted represents past performance. Past performance is no guarantee of future results. Current performance may be lower or higher than performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The average annual total returns assume reinvestment of income, dividends and capital gains distributions and reflect changes in net asset value. You should note that the James Advantage Funds are professionally managed mutual funds while the indices are unmanaged, do not incur expenses and are not available for investment.

Fund Returns

Monthly Quarterly Yearly

Ticker

JAVAX

03/31/23	5.06%
12/31/22	8.02%
09/30/22	-4.18%
06/30/22	-12.95%
03/31/22	-6.55%
12/31/21	8.18%
09/30/21	-2.45%
06/30/21	5.05%
03/31/21	5.42%
12/31/20	7.85%
09/30/20	4.77%
06/30/20	9.62%
03/31/20	-20.42%
12/31/19	4.98%
09/30/19	-0.20%
06/30/19	1.49%
03/31/19	7.37%
12/31/18	-13.07%
09/30/18	1.97%
06/30/18	0.09%
03/31/18	-2.29%
12/31/17	5.55%
09/30/17	4.00%
06/30/17	0.20%
03/31/17	1.32%
12/31/16	3.41%
09/30/16	1.48%
06/30/16	2.49%
03/31/16	1.43%
12/31/15	0.45%
10/31/15	-3.77%

05/31/23	0.37%
04/30/23	0.95%
03/31/23	2.82%
02/28/23	-2.19%
01/31/23	4.47%
12/31/22	-3.75%
11/30/22	5.50%
10/31/22	6.38%
09/30/22	-7.57%
08/31/22	-3.51%
07/31/22	7.44%
06/30/22	-6.93%
05/31/22	0.19%
04/30/22	-6.65%
03/31/22	2.55%
02/28/22	-2.83%
01/31/22	-6.22%
12/31/21	2.76%
11/30/21	0.09%
10/31/21	5.19%
09/30/21	-3.87%
08/31/21	1.31%
07/31/21	0.17%
06/30/21	0.35%
05/31/21	1.51%
04/30/21	3.12%
03/31/21	1.96%
02/28/21	1.91%
01/31/21	1.45%
12/31/20	3.36%
11/30/20	6.10%
10/31/20	-1.65%
09/30/20	-2.42%
08/31/20	4.54%
07/31/20	2.71%
06/30/20	0.33%
05/31/20	2.00%
04/30/20	7.13%
03/31/20	-12.56%
02/29/20	-7.05%
01/31/20	-2.08%
12/31/19	1.78%
11/30/19	2.14%
10/31/19	0.98%
09/30/19	1.70%
08/31/19	-2.34%
07/31/19	0.49%
06/30/19	5.26%
05/31/19	-6.01%
04/30/19	2.59%
03/31/19	-1.66%
02/28/19	2.82%
01/31/19	6.20%
12/31/18	-7.27%
11/30/18	0.30%
10/31/18	-6.53%
09/30/18	-1.36%
08/31/18	0.82%
07/31/18	2.53%
06/30/18	-1.11%
05/31/18	1.79%
04/30/18	-0.56%
03/31/18	-1.57%
02/28/18	-3.65%
01/31/18	3.03%
12/31/17	1.18%
11/30/17	2.84%
10/31/17	1.44%
09/30/17	2.97%
08/31/17	-0.69%
07/31/17	1.70%
06/30/17	0.40%
05/31/17	0.00%
04/30/17	-0.20%
03/31/17	-1.29%
02/28/17	1.00%
01/31/17	1.62%
12/31/16	1.00%
11/30/16	4.90%
10/31/16	-2.39%
09/30/16	-0.52%
08/31/16	-0.41%
07/31/16	2.43%
06/30/16	2.38%
05/31/16	0.33%
04/30/16	-0.22%
03/31/16	3.94%
02/29/16	1.25%
01/31/16	-3.62%
12/31/15	-3.88%
11/30/15	0.74%
10/31/15	3.74%
09/30/15	-2.15%
08/31/15	-5.20%

12/31/22	-15.80%
12/31/21	16.87%
12/31/20	-1.43%
12/31/19	14.18%
12/31/18	-13.31%
12/31/17	11.45%
12/31/16	9.09%
12/31/15	-8.59%

Calendar Year Total Returns

Holdings and Details

Top Five Sector Allocations07/31/2023

Information Technology	19.28%
Health Care	10.79%
Financials	10.74%
Communication Services	8.18%
Industrials	6.48%

Total as % of Fund	55.47%

Top Five Industry Allocations07/31/2023

Pharmaceuticals: Major	6.79%
Semiconductors	5.65%
Packaged Software	5.16%
Internet Software/Services	5.14%
Telecommunications Equipment	3.29%

Total as % of Fund	26.03%

Top Ten Equity Holdings (% of Fund)07/31/2023

NVIDIA Corporation	5.06%
Apple Inc.	4.26%
Alphabet Inc. Class A	4.02%
Microsoft Corporation	3.70%
Cadence Design Systems, Inc.	2.98%
Enova International Inc	2.98%
Meta Platforms Inc. Class A	2.64%
ASML Holding NV ADR	2.51%
BlackRock, Inc.	2.35%
Prologis, Inc.	2.31%

Total as % of Fund	32.80%

Region Exposure Top Three07/31/2023

United States	92.85%
Netherlands	2.51%
United Kingdom	1.83%

Total as % of Fund	97.18%

Subject to change

Fund Characteristics07/31/2023

Ticker	JAVAX
Inception Date	07/01/2015
Cusip	470259789
Total Net Assets as of 06/14/2023 ($mil)	$20.00
Price/Earnings Ratio (12m trailing)	21.61
Price/Book Ratio	5.70
Dividend Yield	0.01
Weighted Average Market Capitalization ($ mil)	507,105.0
Median Market Capitalization ($ mil)	130,615.0
Total Number of Equity Issues	60
Total Number of Debt Issues	14
Portfolio Turnover Rate (annualized as of Fiscal Year-End 11/01/23)	77.00%

Asset Allocation07/31/2023

Market Capitalization Equity Holdings07/31/2023

Fixed Sector Diversification07/31/2023

Fund Operating Expenses11/01/2023

Management Fee	0.98%
Distribution (12b-1) Fee	0.00%
Other Expenses	0.03%
Acquired Fund Fees and Expenses(AFFE)	0.03%
Total Annual Fund Operating Expenses	1.04%

Risk Measures (3yr Trailing)07/31/2023

Distributions

EX-Date	Payable Date	Reinvestment Price	Dividend Type	Dividend Amount
12/28/2022	12/28/2022	$9.98	Income	$0.0834
12/29/2021	12/30/2021	$12.09	Income	$0.0242
12/29/2020	12/30/2020	$10.27	Income	$0.0886
12/27/2019	12/30/2019	$10.60	Income	$0.1070
12/28/2018	12/31/2018	$9.30	Income	$0.0886
12/28/2017	12/29/2017	$10.95	Income	$0.0779
12/05/2017	12/06/2017	$10.80	Long Term Cap Gain	$0.0000
12/29/2016	12/30/2016	$9.91	Income	$0.0886
12/30/2015	12/31/2015	$9.18	Income	$0.0313

NAV History

Previous Year Ending 12/31/23
High	$11.54	07/31/2023
Low	$10.00	01/05/2023

Previous Month Ending 04/30/24
High	$0.00
Low	$0.00

Documents

JAVAX

Prospectus

Annual

Semi-Annual

SAI

Fact Sheet

Daily NAV & Distributions

Economic Outlook

Annual Outlook from Fund Advisor
Provides recommendation for Investors
Forecast for Economy, Bonds, Stocks and International

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Forms & Reports

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Important Disclosure

You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund's prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the Fund's prospectus by calling 1-800-995-2637 or click here to view or download a prospectus online.

The performance data quoted represents past performance. Past performance is no guarantee of future results. Current performance may be lower or higher than performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The average annual total returns assume reinvestment of income, dividends, and capital gains distributions and reflect changes in net asset value. You should note that the James Advantage Funds are professionally managed mutual funds while the indices are unmanaged, do not incur expenses, and are not available for investment.

Mid, Small and Micro Cap investing involve greater risk not associated with investing in more established companies, such as greater price volatility, business risk, less liquidity and increased competitive threat. Fund holdings and sector weightings are subject to change without notice. Past performance is no guarantee of future results.

Bloomberg Barclays U.S. Aggregate Government/Credit Bond Index*	An unmanaged index generally representative of dollar denominated U.S. Treasuries, government related and investment grade U.S. corporate securities that have a remaining maturity greater than one year.
Beta	A measure of a stock's volatility in relation to the overall market.
Dividend Yield	Expressed as a percentage, is a financial ratio that shows how much a company pays out in dividends each year relative to its stock price.
Down-Market Capture Ratio	A statistical measure of an investment manager's overall performance in down-markets. The ratio is calculated by dividing the manager's returns by the returns of the index during the down-market and multiplying that factor by 100.
Price/Book Ratio	A ratio used to compare a stock's market value to its book value. It is calculated by dividing by dividing the current closing price of the stock by the latest quarter's book value per share.
Price/Earnings Ratio	A valuation of a company's current share price compared to its per-share earnings.
R-squared (R²)	A statistical measure that represents the proportion of the variance for a dependent variable that's explained by an independent variable or variables in a regression model.
Russell 1000® Index*	The Russell 1000® Index, a subset of the Russell 3000® Index, represents the 1000 top companies by market capitalization in the United States.
Russell 2000® Index*	An index measuring the performance of approximately 2,000 smallest-cap American companies in the Russell 3000® Index, which is made up of 3,000 of the largest U.S. stocks.
Russell 2000® Value Index*	Refers to a composite of small cap companies located in the United States that also exhibit a value probability.
Russell 3000® Index*	The Russell 3000® Index is a market-capitalization-weighted equity index maintained by FTSE Russell that provides exposure to the entire U.S. stock market.
Russell Microcap® Index*	The Russell Microcap Index is a capitalization-weighted index of almost 1,550 small cap and micro cap stocks that captures the smallest 1,000 companies in the Russell 2000, plus 1,000 smaller U.S.-based listed stocks.
Sharpe Ratio	Measures the performance of an investment compared to a risk-free asset, after adjusting for its risk. It is defined as the difference between the returns of the investment and the risk-free return, divided by the standard deviation of the investment.
Standard Deviation	In statistics, the standard deviation is a measure of the amount of variation or dispersion of a set of values.
Up-Market Capture Ratio	The statistical measure of an investment manager's overall performance in up-markets. The ratio is calculated by dividing the manager's returns by the returns of the index during the up-market and multiplying that factor by 100.
Weighted Average Market Capitalization	A type of stock market index construction that is based on the market capitalization of the index's constituent stocks.
	*indexes are not managed, one cannot invest directly in an index

Overview

Investment Objective

Fund Resources

Quick Stats07/31/2023

Investment Strategy

Daily Prices (NAV)09/25/2023

Fund Performance

Growth of $10,000

Fund Returns

Calendar Year Total Returns

Holdings and Details

Top Five Sector Allocations07/31/2023

Top Five Industry Allocations07/31/2023

Top Ten Equity Holdings (% of Fund)07/31/2023

Region Exposure Top Three07/31/2023

Top Five Contributors to Performance07/31/2023

Bottom Five Contributors to Performance07/31/2023

Fund Characteristics07/31/2023

Asset Allocation07/31/2023

Market Capitalization Equity Holdings07/31/2023

Fixed Sector Diversification07/31/2023

Fund Operating Expenses11/01/2023

Capture Ratios (3yr Trailing)07/31/2023

Risk Measures (3yr Trailing)07/31/2023

Distributions

NAV History

Documents

Daily NAV & Distributions

Economic Outlook

Forms & Reports

Important Disclosure