Our Target Date Funds MoA Clear Passage 2040 Fund™

Ticker: MURLX | Inception Date: 11/5/2007
AUM: $1.2B | Benchmark: Morningstar Lifetime Allocation Moderate 2040 Index

Fact Sheet

MoA Clear Passage 2040 Fund™ Overview

As of 11/30/2024

The MoA Clear Passage 2040 Fund™ is designed for investors with a specific target date in mind – whether for retirement or another long-term investment goal. This Fund uses our time-tested investment management and allocation expertise to dynamically manage an investment over time approaching the target year 2040.

The Fund Features:

  • Active management in the small-cap, mid-cap, international equity, and fixed income asset classes
  • Passive management in large-cap equities to optimize market participation while maintaining lower expenses
  • Dynamic portfolio allocation that adjusts the equity and fixed income holdings over time based on the specified target year
  • A glidepath that extends 10 years beyond the target date
  • A conservative risk-management approach
LSEG Lipper Fund Awards - 2024 Winner United States

Best Mixed-Asset Target 2040 Fund over 3 years among 186 funds based on historical risk adjusted returns as of 11/30/2023.

Best Mixed-Asset Target 2040 Fund over 10 Years Among 93 funds based on historical risk adjusted returns as of 11/30/2023.

Morningstar Ratings™

Time Period Rating # Funds in Category
Overall 191
3 Year 191
5 Year 165
10 Year 109
Based on risk adjusted return among Morningstar Target-Date 2040 category.

Portfolio Managers

Jamie Zendel, FRM

Jamie Zendel, FRM

Executive Vice President, Head of Quantitative and Asset Allocation Strategies

With MoA Since 2007

Over 27 years of investment experience

Joseph R. Gaffoglio, CFA, CPA

Joseph R. Gaffoglio, CFA, CPA

President & CEO

With MoA Since 2005

Over 29 years of investment experience

MoA Clear Passage 2040 Fund™ Performance

Quarterly

Monthly

As of 11/30/2024
Annualized
Class 1 Mo YTD 1 Yr 3 Yr 5 Yr 10 Yr Incep
MoA Clear Passage 2040 Fund™ 4.40 17.95 23.83 7.20 10.58 9.17 7.95
Morningstar Lifetime Allocation Moderate 2040 Index 3.56 15.04 21.56 4.59 8.08 7.60 6.55
Morningstar Target-Date 2040 Category Avg 3.54 16.08 21.96 5.33 9.10 8.04
Percentile Rank in Morningstar Category 7 6 3 4
Number of Funds in Category 202 191 165 109
Date of Inception: 11/5/2007 | Gross Expense Ratio: 0.34%

Quarterly

As of 9/30/2024
Annualized
Class 3 Mo YTD 1 Yr 3 Yr 5 Yr 10 Yr Incep
MoA Clear Passage 2040 Fund™ 5.74 15.14 26.93 7.40 11.04 9.37 7.88
Morningstar Lifetime Allocation Moderate 2040 Index 7.19 13.92 26.32 4.65 8.75 7.78 6.55
Morningstar Target-Date 2040 Category Avg 6.01 14.63 26.48 5.52 9.76 8.27
Percentile Rank in Morningstar Category 50 5 9 4
Number of Funds in Category 203 194 168 111
Date of Inception: 11/5/2007 | Gross Expense Ratio: 0.34%

The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance, please call 800.914.8716 or visit the Fund’s website at moafunds.com.

MoA Clear Passage 2040 Fund™ Portfolio Characteristics

As of 9/30/2024

Top 10 Holdings (%)

Holding Fund
MoA Equity Index Fund 45.33
MoA International Fund 18.75
MoA Core Bond Fund 13.95
MoA Mid Cap Equity Index Fund 10.22
MoA Intermediate Bond Fund 3.98
MoA Small Cap Equity Index Fund 2.02
MoA Small Cap Value Fund 1.96
MoA US Government Money Market Fund 1.94
MoA Small Cap Growth Fund 0.95
MoA Mid Cap Value Fund 0.89
Total 99.99
Total Number of Holdings: 11

Credit Quality (%)

Holding Fund Category
AAA 0.00 21.21
AA 64.39 49.50
A 9.22 11.39
BBB 25.86 13.03
BB 0.14 1.95
B 0.00 0.93
Below B 0.00 0.37
Ratings are based on Morningstar DBRS ratings. For securities rated differently, Morningstar provides an average rating. Credit Quality ratings reflect the credit quality of the underlying securities in the Fund’s portfolio and not that of the fund itself. Quality ratings are subject to change. Ratings range from AAA as the highest to Below B as the lowest credit quality rating.

Portfolio Composition (%)

Asset Fund
Equities 79.42
Bonds 17.74
Cash 2.67
Other 0.17

Risk Metrics (3 yr)

Holding Fund Category*
Sharpe Ratio 0.30 0.18
Standard Deviation 15.00 14.79

Average Market Cap

Item Value
Fund $102.5B
Category Average* $120.5B

Effective Duration

Item Value
Fund 5.39 YRS
Category Average* 7.09 YRS

Overall Risk Vs Category*

*Compared to the Target-Date 2040 Category.

Equity Sector Breakdown

MoA Clear Passage 2040 Fund™
Morningstar Target-Date 2040 Category Avg
Sector Fund Category
Information Technology 22.12 23.29
Financials 15.99 15.85
Industrials 12.80 11.53
Healthcare 12.01 11.68
Consumer Discretionary 10.66 10.30
Communication Services 6.34 7.04
Consumer Staples 5.98 5.74
Energy 4.13 4.13
Materials 4.03 4.03
Real Estate 3.20 3.79
Utilities 2.74 2.64

Fixed Income Sector Breakdown

MoA Clear Passage 2040 Fund™
Morningstar Target-Date 2040 Category Avg
Sector Fund Category
Government 42.06 36.36
Corporate 32.53 25.03
Securitized 23.71 24.50
Cash & Equivalents 1.69 11.25
Derivative 0.01 2.58

MoA Clear Passage 2040 Fund™ Literature

Document Download
Fact Sheet
Holdings Q1
Holdings Q3
Prospectus
Document Download
Summary Prospectus
Annual Report
Semi-Annual Report