Which of the following is not commonly considered an investment strategy?

Income allocation is not commonly recognized as a distinctive investment strategy in the same vein as the others mentioned. Value investing focuses on selecting undervalued stocks that are expected to appreciate over time, while growth investing targets companies with significant potential for growth, often prioritizing those with substantial earnings growth and market expansion. Dividend investing centers on purchasing shares of companies that regularly distribute dividends, appealing to investors seeking regular income from their investments.

In contrast, income allocation is typically a broader concept that involves distributing investments across various types of assets to achieve a desired income level, rather than representing a specific, widely recognized strategy dedicated solely to stock selection or capital appreciation. Thus, while income allocation may play a role in an investor's overall strategy, it does not define a specific investment approach in the same way value, growth, or dividend investing do.