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2 ALPS Mutual Funds to Consider for Your Portfolio
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ALPS Advisors, Inc. is an SEC-registered investment advisor. ALPS Advisors advises mutual funds operating under the brand name ALPS Funds. These are actively managed funds across geographies and asset classes.
The mutual funds offered through the ALPS funds brand are distributed across various categories of investment and geographic and market segments. Factors used in the selection of mutual funds include the underlying portfolio of securities, portfolio structure, investment approach, fee structure and risk.
We have picked two ALPS mutual funds — ALPS Asset Allocation Growth & Inc Inv (RLGAX - Free Report) and ALPS Balanced Opportunity — which investors should buy now for the long term. These funds have a Zacks Mutual Fund Rank #1 (Strong Buy) or Rank 2 (Buy), with positive three-year and five-year annualized returns, minimum initial investments within $5000 and expense ratios considerably lower than the category average. So, these funds have provided comparatively stronger performance and carry a lower fee.
ALPS Asset Allocation Growth & Inc Inv fund seeks current income and capital appreciation while managing risk by strategically investing in, and tactically adjusting allocations to, U.S.-listed ETFs advised by the Adviser and unaffiliated ETFs, which may have international exposure.
Eric Hewitt has been the lead manager of RLGAX since Feb. 28, 2025. Most of the fund’s holdings were in companies such as iShares Core MSCI International Developed Markets ETF (10%), Vanguard Morningstar Total Stock Market ETF (6.1%) and iShares Core U.S. Aggregate Bond ETF (5.3%) as of July 31, 2026.
RLGAX’s 3-year and 5-year annualized returns are 14.3% and 7.1%, respectively. Its net expense ratio is 0.45%. RLGAX has a Zacks Mutual Fund Rank #1.
To see how this fund performed compared to its category, and other 1 (Strong Buy) and 2 Ranked Mutual Funds, please click here.
ALPS Balanced Opportunity fund seeks the highest level of income exempt from Federal and California income tax (income may be subject to the alternative minimum tax).
Laton Spahr has been the lead manager of ALCBX since Sept. 15, 2020. Most of the fund’s holdings were in companies like ALPS Smith Core Plus Bond ETF (27.7%), Alphabet Inc. (4.6%) and Johnson & Johnson (3.6%) as of April 30, 2026.
ALCBX’s 3-year and 5-year annualized returns are 15.4% and 7.4%, respectively. Its net expense ratio is 0.67%. ALCBX has a Zacks Mutual Fund Rank #1.
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2 ALPS Mutual Funds to Consider for Your Portfolio
ALPS Advisors, Inc. is an SEC-registered investment advisor. ALPS Advisors advises mutual funds operating under the brand name ALPS Funds. These are actively managed funds across geographies and asset classes.
The mutual funds offered through the ALPS funds brand are distributed across various categories of investment and geographic and market segments. Factors used in the selection of mutual funds include the underlying portfolio of securities, portfolio structure, investment approach, fee structure and risk.
We have picked two ALPS mutual funds — ALPS Asset Allocation Growth & Inc Inv (RLGAX - Free Report) and ALPS Balanced Opportunity — which investors should buy now for the long term. These funds have a Zacks Mutual Fund Rank #1 (Strong Buy) or Rank 2 (Buy), with positive three-year and five-year annualized returns, minimum initial investments within $5000 and expense ratios considerably lower than the category average. So, these funds have provided comparatively stronger performance and carry a lower fee.
ALPS Asset Allocation Growth & Inc Inv fund seeks current income and capital appreciation while managing risk by strategically investing in, and tactically adjusting allocations to, U.S.-listed ETFs advised by the Adviser and unaffiliated ETFs, which may have international exposure.
Eric Hewitt has been the lead manager of RLGAX since Feb. 28, 2025. Most of the fund’s holdings were in companies such as iShares Core MSCI International Developed Markets ETF (10%), Vanguard Morningstar Total Stock Market ETF (6.1%) and iShares Core U.S. Aggregate Bond ETF (5.3%) as of July 31, 2026.
RLGAX’s 3-year and 5-year annualized returns are 14.3% and 7.1%, respectively. Its net expense ratio is 0.45%. RLGAX has a Zacks Mutual Fund Rank #1.
To see how this fund performed compared to its category, and other 1 (Strong Buy) and 2 Ranked Mutual Funds, please click here.
ALPS Balanced Opportunity fund seeks the highest level of income exempt from Federal and California income tax (income may be subject to the alternative minimum tax).
Laton Spahr has been the lead manager of ALCBX since Sept. 15, 2020. Most of the fund’s holdings were in companies like ALPS Smith Core Plus Bond ETF (27.7%), Alphabet Inc. (4.6%) and Johnson & Johnson (3.6%) as of April 30, 2026.
ALCBX’s 3-year and 5-year annualized returns are 15.4% and 7.4%, respectively. Its net expense ratio is 0.67%. ALCBX has a Zacks Mutual Fund Rank #1.
Want key mutual fund info delivered straight to your inbox?
Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>