ALPS Asset Allocation Growth & Income - Investor Class · NASDAQ:RLGAX
ALPS Asset Allocation Growth & Income - Investor Class — ALPS | CoreCommodity Management CompleteCommodities Strategy Fund — Investor Presentation (September 2025)
28 slides from ALPS Asset Allocation Growth & Income - Investor Class's investor presentation, Sep 30, 2025
Slide 1: ALPS | CoreCommodity Management CompleteCommodities Strategy Fund
ALPS | CORECOMMODITY MANAGEMENT COMPLETECOMMODITIES® STRATEGY FUND Class I: JCRIX | Class Inv: JCRAX | Class A: JCCSX | Class C: JCRCX Portfolio Solutions | Advisory Services
Slide 2: Partnership
PARTNERSHIP CoreCommodity Management, LLC ("CoreCommodity Management”) • CoreCommodity Management is an independent asset management firm whose singular focus is to provide commodity exposure to investors globally via commodity futures and natural resource equity strategies. • Co-Founders of CoreCom
Slide 3: CoreCommodity Management Executive Team
CORECOMMODITY MANAGEMENT EXECUTIVE TEAM Bradford L. Klein Bradford Klein is a Co-Founder of CoreCommodity Management LLC and Chair of the Fund’s Policy Committee. In 2003, Mr. Klein co-founded the commodity asset management group at Jefferies, which became independent as CoreCommodity in 2013. Prior
Slide 4: Portfolio Management
PORTFOLIO MANAGEMENT Robert B. Hyman* Mr. Hyman is a Managing Director for CoreCommodity Management, LLC and Portfolio Manager to the Fund. Mr. Hyman re- joined CoreCommodity in June 2010. From January 2004 to April 2006, Mr. Hyman was a portfolio manager for the Jefferies Real Asset Fund, where he
Slide 5: CompleteCommodities: Potential Benefits of Commodity Investments
COMPLETECOMMODITIES The CompleteCommodities® Strategy seeks to provide diversified and unlevered global commodity exposure through actively managed long-only commodity investments. Potential Benefits of Commodity Investments: Long-term Inflation Collateral investments Capital Appreciation Protection
Slide 6: A Complete Approach to Commodities
A COMPLETE APPROACH TO COMMODITIES Commodity Futures and Commodity Equities can be highly complementary in delivering investable exposure to commodities: Commodity Futures Commodity Equities Approximately Two Dozen Universe Broader Commodity Exposure Liquid Commodities Tenor Shorter Term as Contract
Slide 7: Broad Commodity Exposure
BROAD COMMODITY EXPOSURE CompleteCommodities exposure can include, but is not limited to: Energy Agriculture Industrial Metals Precious Metals Others WTI Crude Oil Corn Aluminum Gold Lumber Brent Crude Oil Wheat Copper Silver Rubber Unleaded Gasoline Soybeans, Oil, & Meal Nickel Diamonds Heating Oil
Slide 8: Investment Process: Analysis
INVESTMENT PROCESS: ANALYSIS Multi-Factor, Bottom-Up Approach including such factors as: • Forward Term Structure • Supply & Demand Balances • Seasonality • Micro Economic Inputs • Volatility • Distilling and Ranking • Historical Trends Fundamental Data Points • Technical Indicators • Proprietary ES
Slide 9: Investment Process: Active Management
INVESTMENT PROCESS: ACTIVE MANAGEMENT Security Selection Curve Management Asset Allocation Example: Example: Example: Overweight WTI crude oil, Long Dec. wheat when Macro shift between underweight Brent crude benchmark holds Sep. commodity futures and wheat commodity equities Example: Example: Inves
Slide 10: Unique Commodity Equity Investment Philosophy
UNIQUE COMMODITY EQUITY INVESTMENT PHILOSOPHY Proprietary construction seeks to capture commodity price exposure Direct Exposure to Commodity Production • Focus on “pure play” upstream commodity producing companies possessing in-ground reserves. • Increase inflation sensitivity of portfolio. • Seek
Slide 11: Fund Performance
FUND PERFORMANCE Performance as of September 30, 2025 Performance data quoted represents past performance. Past performance is no Total Returns QTD YTD 1 Y* 5 Y* 10 Y* SI* Volatility guarantee of future results so that shares, when redeemed, may be worth more or less Class I (NAV) 8.22% 17.25% 13.95
Slide 12: Fund Commodity Equities Performance
FUND COMMODITY EQUITIES PERFORMANCE CompleteCommodities commodity equities portfolio has historically shown a stronger positive relationship to commodity prices than to broad equities. 1,000 900 S&P 500 (TR) 800 BCOM (TR) 700 Commodity Prices (not investable) JCRIX Equities 600 500 400 300 200 100 -
Slide 13: Portfolio Composition – September 30, 2025
PORTFOLIO COMPOSITION – SEPTEMBER 30, 2025 Benchmark Sector and Constituent Weightings Portfolio Composition Commodity Futures Investments: 62.4% Fund Level BCOM (TR) Index Participation as a Percentage of Fund Assets* Gold** 11.6% Natural Gas 5.0% Agriculture - 23.3% Agriculture - 27.8% Brent Crude
Slide 14: Fund Performance: Historical Performance versus Benchmark
FUND PERFORMANCE Historical Fund Performance versus Benchmark Cumulative Performance Performance of JCRIX (relative to the BCOM (TR) Index) 160 Annualized Outperformance 2.3% Inception To Date Outperformance 43.9% 140 Beta to Benchmark 1.1 120 Correlation to benchmark 0.93 Tracking Error 5.9% 100 In
Slide 15: Appendix
APPENDIX
Slide 16: Why Active Management – Understanding Roll Yield
WHY ACTIVE MANAGEMENT – UNDERSTANDING ROLL YIELD Source: Bloomberg L.P. Data Range: LEFT – December 31, 1999 through December 31, 2000; RIGHT – February 26, 2016 through February 28, 2018. Past performance is no guarantee of future results. Any indices and other financial benchmarks shown are provid
Slide 17: Constructing Commodity Equity Investments
CONSTRUCTING COMMODITY EQUITY INVESTMENTS Universe of Global Equities Global Commodity Equities Commodity Relationships Corporate Fundamentals Market Dynamics Portfolio Drivers Proven & Probable Reserves Profitability Positioning Commodity Extraction Margins Earnings Quality Price Trends Backwardati
Slide 18: Correlation to Inflation
CORRELATION TO INFLATION 1.00 Correlation to Inflation Correlation to Unexpected Inflation 0.80 0.60 0.40 Correlation 0.20 0.00 -0.20 -0.40 Commodities Natural Resource Equities Real Estate TIPS Emerging Markets Infrastructure MLPs Inflation 69% 45% 9% -26% 5% 25% 40% Unexpected 75% 53% 36% 14% 19%
Slide 19: Correlation and Beta to Inflation
CORRELATION AND BETA TO INFLATION 1 9 0.9 8 0.8 7 0.7 6 0.6 Correlation 5 Beta 0.5 4 0.4 3 0.3 2 0.2 0.1 1 0 0 BCOM JCRIX BCOM JCRIX Inflation Unexpected Inflation Inflation Unexpected Inflation Source: Bloomberg, CoreCommodity Management, Kenneth R. French Date Range: 7/1/2010 – 6/30/2025. Latest d
Slide 20: Inflation Trends
INFLATION TRENDS Source: Bloomberg, CoreCommodity Management, Kenneth R. French Date Range: 1965 through 12/31/2024. Past performance is no guarantee of future results. Please see the “INTEREST RATE AND INFLATION DATA DEFINITIONS” slide for definitions. 20
Slide 21: Current Prices Relative to Long-Term Range
CURRENT PRICES RELATIVE TO LONG-TERM RANGE 99% 100% 100% 100% 91% 80% 60% 39% 40% 20% 0% BCOM REITs Bonds Stocks Emerging Markets Source: Bloomberg L.P., CoreCommodity Management Data Range: September 30, 2005 – September 30, 2025. Past performance is no guarantee of future results. Peak Price is th
Slide 22: Cost of Production
COST OF PRODUCTION 750 650 550 450 350 250 150 50 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 Bloomberg Commodity Spot Price Cost of Production of Bloomberg Commodity Spot Basket Past performance is no guarantee of future results. COMMODITY TRADING INVOLVES SUBSTANTIAL RISK OF LOSS.
Slide 23: Interest Rate and Inflation Data Definitions
INTEREST RATE AND INFLATION DATA DEFINITIONS Analysis Range (1976 – 12/31/2024) unless otherwise noted. This is when the Bloomberg Barclays US Aggregate Bond Index Total Return data begins. “Broad Equities” and “Global Equities” are S&P 500 Total Return Index (through December 1993) and FTSE all-wor
Slide 24: Risk Factors and Other Important Disclosures
RISK FACTORS AND OTHER IMPORTANT DISCLOSURES An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus containing this and other information, call 1-866-759-5679 or visit www.alpsfunds.com. Read the prospectus carefully befo
Slide 25: Risk Factors and Other Important Disclosures
RISK FACTORS AND OTHER IMPORTANT DISCLOSURES Commodity Risk. The Fund’s investments in commodity and commodity equities may subject the Fund to significantly greater volatility than investments in traditional securities and involve substantial risks, including risk of a significant portion on their
Slide 26: Definitions
DEFINITIONS Backwardation: a market condition wherein the price of commodities’ forward or futures contract is trading below the expected spot price at contract maturity. Capital Flows: seeks to measure the movement of money into and out of a commodity for the purpose of investment, trade or busines
Slide 27: Definitions
DEFINITIONS Swaps: the exchange of one security for another to change the maturity (bonds), quality of issues (stocks or bonds) or because investment objectives have changed. Technical Indicators: metrics whose value is derived from generic price activity of an asset. Technical indicators look to pr
Slide 28: Index Definitions
INDEX DEFINITIONS Barclays Inflation Index (Barclays US Government Inflation-Linked Bond Index): includes publicly issued, US Treasury Inflation Protected Securities that have at least 1 year remaining to maturity on index rebalancing date, with an issue size equal to or in excess of $500 million. B