Fund Overview Fund Overview Share Class I N I Z NAV | as of 09/21/2023 $8.60 -$0.07 (-0.81%) Morningstar | Style Box L M E H M L Overall Morningstar Rating Rated against 415 Intermediate Core Bond funds as of 08/31/2023 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 04/30/1993 to 08/31/2023 = $41,644.80 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the 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. For performance information through the most recent month end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. View Performance Read Important Investment Disclosures Objective The Fund seeks to generate income and capital appreciation by primarily investing in a diversified portfolio of fixed income securities. Why Consider Provides investors with exposure to primarily high-quality intermediate-term bonds Invest in companies that GW&K believes are leaders in effectively addressing exposure to ESG risks through robust business practices, policies and programs or companies that have more limited exposure to ESG risks. The Fund employs a multi-sector approach designed to take advantage of the relative valuations among distinct bond sectors, and provide greater opportunities to generate income and capital appreciation Documents Fact Sheet Commentary Summary Prospectus Prospectus 2022 Year End Distributions View All Documents Mary F. Kane, CFA PARTNER AND PORTFOLIO MANAGER See Our Approach Read Bio Stephen J. Repoff, CFA PRINCIPAL, PORTFOLIO MANAGER See Our Approach Read Bio Investment Style GW&K Core Bond ESG Fund has a Fixed Income objective, seeking to achieve a high level of current income. High Med. Low Ltd. Mod. Ext. Fixed Income Objective GW&K Core Bond ESG Fund is categorized as Medium-Moderate. It combines medium credit quality with moderate interest-rate sensitivity. Morningstar Ratings Risk-adjusted returns as of 08/31/2023 Overall Rating (of 415) 3 Years (of 415) 5 Years (of 379) 10 Years (of 277) Category Intermediate Core Bond Read Important Investment Disclosures Mary F. Kane, CFA PARTNER AND PORTFOLIO MANAGER Mary is a partner of the firm and responsible for the implementation and execution of all GW&K taxable fixed income portfolios. She has a long-tenured and successful career in building taxable fixed income portfolios and mutual funds that serve a wide range of clients. Mary is a proven leader and manages all aspects of GW&K’s taxable bond portfolio management, research, and trading. She is a member of the firm's Investment, ESG, and Global Allocation Committees. Prior to joining GW&K, Mary was a managing director and portfolio manager with Fortis Investments where she was responsible for all of the firm's U.S. dollar-denominated taxable bond mutual funds. Previously she was a vice president at Invesco, where she served as a senior high-yield credit analyst and managed various institutional fixed-income mandates. She began her investment career as a fixed income trader and credit analyst at Gardner and Preston Moss. Mary graduated cum laude from Wheaton College where she earned an AB in Economics, and received her MBA from Boston University's Questrom School of Business. She is a CFA® charterholder and a member of the CFA Institute and the CFA Society Boston. Stephen J. Repoff, CFA PRINCIPAL, PORTFOLIO MANAGER Stephen is a principal and a portfolio manager for all of GW&K's taxable fixed income strategies. In this capacity he oversees risk management, portfolio construction and analysis, and taxable bond trading. Stephen also specializes in analyzing and managing GW&K’s preferred stock holdings. He is a member of the firm's Investment Committee. Prior to joining GW&K in 2013, Stephen worked for Fidelity Investments as a research analyst covering the E&P, Energy Services, and Midstream sectors for the firm’s high yield mutual funds. At Fidelity, Stephen also worked on the high yield trading desk where he focused on levered loans. Prior to that, he was responsible for overseeing the construction, warehousing, and ongoing compliance of Fidelity’s Collateralized Loan Obligations. Stephen graduated magna cum laude from Boston University where he received a BA in Philosophy and a BS in English Education. He received his MSF from Boston College. He is a CFA® charterholder and a member of the CFA Institute and the CFA Society Boston. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the 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. For performance information through the most recent month end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods less than one year are not annualized. Expense Ratios Gross Expense Ratio: 0.62% Net Expense Ratio: 0.55% Expense Cap Expiration Date: 03/01/2024 Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Aug 29, 2023 $0.022700 $0.022700 — — Jul 27, 2023 $0.021600 $0.021600 — — Jun 28, 2023 $0.021500 $0.021500 — — May 26, 2023 $0.021300 $0.021300 — — Apr 26, 2023 $0.020500 $0.020500 — — Mar 29, 2023 $0.021600 $0.021600 — — Feb 24, 2023 $0.019500 $0.019500 — — Jan 27, 2023 $0.019400 $0.019400 — — Dec 15, 2022 $0.022700 $0.022700 — — Nov 28, 2022 $0.019600 $0.019600 — — Oct 27, 2022 $0.019500 $0.019500 — — Sep 28, 2022 $0.018000 $0.018000 — — Aug 29, 2022 $0.017900 $0.017900 — — Jul 27, 2022 $0.016900 $0.016900 — — Jun 28, 2022 $0.015800 $0.015800 — — May 26, 2022 $0.015500 $0.015500 — — Apr 27, 2022 $0.013600 $0.013600 — — Mar 29, 2022 $0.013400 $0.013400 — — Feb 24, 2022 $0.011600 $0.011600 — — Jan 27, 2022 $0.005700 $0.005700 — — Dec 15, 2021 $0.269200 $0.016400 $0.026200 $0.226600 Nov 26, 2021 $0.011900 $0.011900 — — Oct 27, 2021 $0.011000 $0.011000 — — Sep 28, 2021 $0.011700 $0.011700 — — Aug 27, 2021 $0.012300 $0.012300 — — Jul 28, 2021 $0.012100 $0.012100 — — Jun 28, 2021 $0.012700 $0.012700 — — May 26, 2021 $0.011000 $0.011000 — — Apr 28, 2021 $0.010100 $0.010100 — — Mar 29, 2021 $0.014400 $0.014400 — — Feb 24, 2021 $0.014500 $0.014500 — — Jan 27, 2021 $0.016300 $0.016300 — — Dec 16, 2020 $0.014900 $0.014900 — — Nov 25, 2020 $0.015100 $0.015100 — — Oct 28, 2020 $0.016300 $0.016300 — — Sep 28, 2020 $0.015900 $0.015900 — — Aug 27, 2020 $0.015500 $0.015500 — — Jul 29, 2020 $0.015900 $0.015900 — — Jun 26, 2020 $0.016500 $0.016500 — — May 27, 2020 $0.017800 $0.017800 — — Apr 28, 2020 $0.017900 $0.017900 — — Mar 27, 2020 $0.019400 $0.019400 — — Feb 26, 2020 $0.020200 $0.020200 — — Jan 29, 2020 $0.017900 $0.017900 — — Dec 16, 2019 $0.024000 $0.024000 — — Nov 26, 2019 $0.021900 $0.021900 — — Oct 29, 2019 $0.021100 $0.021100 — — Sep 26, 2019 $0.019800 $0.019800 — — Aug 28, 2019 $0.020600 $0.020600 — — Jul 29, 2019 $0.020800 $0.020800 — — Jun 26, 2019 $0.020700 $0.020700 — — May 29, 2019 $0.021800 $0.021800 — — Apr 26, 2019 $0.020300 $0.020300 — — Mar 27, 2019 $0.021500 $0.021500 — — Feb 26, 2019 $0.019900 $0.019900 — — Jan 29, 2019 $0.019600 $0.019600 — — Dec 27, 2018 $0.022300 $0.022300 — — Nov 28, 2018 $0.020800 $0.020800 — — Oct 29, 2018 $0.019200 $0.019200 — — Sep 26, 2018 $0.018700 $0.018700 — — Aug 29, 2018 $0.019700 $0.019700 — — Jul 27, 2018 $0.018500 $0.018500 — — Jun 27, 2018 $0.018200 $0.018200 — — May 29, 2018 $0.019000 $0.019000 — — Apr 26, 2018 $0.016500 $0.016500 — — Mar 27, 2018 $0.018000 $0.018000 — — Feb 26, 2018 $0.018000 $0.018000 — — Jan 29, 2018 $0.016500 $0.016500 — — Dec 27, 2017 $0.020500 $0.020500 — — Nov 27, 2017 $0.017500 $0.017500 — — Oct 26, 2017 $0.017500 $0.017500 — — Sep 26, 2017 $0.017500 $0.017500 — — Aug 28, 2017 $0.017500 $0.017500 — — Jul 26, 2017 $0.017500 $0.017500 — — Jun 27, 2017 $0.017700 $0.017700 — — May 25, 2017 $0.017400 $0.017400 — — Apr 25, 2017 $0.016900 $0.016900 — — Mar 28, 2017 $0.019400 $0.019400 — — Feb 23, 2017 $0.017500 $0.017500 — — Jan 26, 2017 $0.016400 $0.016400 — — Dec 27, 2016 $0.017200 $0.017200 — — Nov 25, 2016 $0.017400 $0.017400 — — Oct 26, 2016 $0.017700 $0.017700 — — Sep 27, 2016 $0.016900 $0.016900 — — Aug 26, 2016 $0.017400 $0.017400 — — Jul 26, 2016 $0.018400 $0.018400 — — Jun 27, 2016 $0.017400 $0.017400 — — May 25, 2016 $0.017400 $0.017400 — — Apr 26, 2016 $0.017400 $0.017400 — — Mar 28, 2016 $0.017400 $0.017400 — — Feb 24, 2016 $0.015400 $0.015400 — — Jan 26, 2016 $0.015400 $0.015400 — — Dec 28, 2015 $0.254300 $0.015100 — $0.239200 Nov 24, 2015 $0.019000 $0.019000 — — Oct 27, 2015 $0.018300 $0.018300 — — Sep 25, 2015 $0.018400 $0.018400 — — Aug 26, 2015 $0.015300 $0.015300 — — Jul 28, 2015 $0.015300 $0.015300 — — Jun 25, 2015 $0.014400 $0.014400 — — May 26, 2015 $0.014300 $0.014300 — — Apr 27, 2015 $0.016300 $0.016300 — — Mar 26, 2015 $0.018000 $0.018000 — — Feb 24, 2015 $0.004700 $0.004700 — — Jan 27, 2015 $0.004700 $0.004700 — — Dec 26, 2014 $0.549800 $0.199100 $0.224100 $0.126600 Nov 24, 2014 $0.012500 $0.012500 — — Oct 28, 2014 $0.010000 $0.010000 — — Sep 25, 2014 $0.009500 $0.009500 — — Aug 26, 2014 $0.009100 $0.009100 — — Jul 28, 2014 $0.009100 $0.009100 — — Jun 25, 2014 $0.009200 $0.009200 — — May 27, 2014 $0.009827 $0.009827 — — Apr 25, 2014 $0.010955 $0.010955 — — Mar 26, 2014 $0.013657 $0.013657 — — Feb 25, 2014 $0.016622 $0.016622 — — Jan 28, 2014 $0.018632 $0.018632 — — Dec 26, 2013 $0.015093 $0.015093 — — Nov 25, 2013 $0.013272 $0.013272 — — Oct 28, 2013 $0.015296 $0.015296 — — Sep 25, 2013 $0.013077 $0.013077 — — Aug 27, 2013 $0.015384 $0.015384 — — Jul 26, 2013 $0.016063 $0.016063 — — Jun 25, 2013 $0.013905 $0.013905 — — May 28, 2013 $0.017967 $0.017967 — — Apr 25, 2013 $0.018440 $0.018440 — — Mar 25, 2013 $0.016093 $0.016093 — — Feb 25, 2013 $0.017222 $0.017222 — — Jan 28, 2013 $0.022611 $0.022611 — — Dec 26, 2012 $0.247425 $0.094625 $0.122100 $0.030700 Nov 27, 2012 $0.019861 $0.019861 — — Oct 26, 2012 $0.024918 $0.024918 — — Sep 25, 2012 $0.020945 $0.020945 — — Aug 28, 2012 $0.025324 $0.025324 — — Jul 26, 2012 $0.021072 $0.021072 — — Jun 26, 2012 $0.020854 $0.020854 — — May 28, 2012 $0.022062 $0.022062 — — May 25, 2012 $0.022062 $0.022062 — — Apr 25, 2012 $0.022514 $0.022514 — — Mar 27, 2012 $0.022597 $0.022597 — — Feb 24, 2012 $0.024799 $0.024799 — — Jan 26, 2012 $0.026103 $0.026103 — — Dec 27, 2011 $0.097014 $0.097014 — — Nov 25, 2011 $0.026228 $0.026228 — — Oct 26, 2011 $0.026282 $0.026282 — — Sep 27, 2011 $0.024523 $0.024523 — — Aug 26, 2011 $0.024624 $0.024624 — — Jul 26, 2011 $0.023057 $0.023057 — — Jun 27, 2011 $0.025460 $0.025460 — — May 25, 2011 $0.021962 $0.021962 — — Apr 26, 2011 $0.024936 $0.024936 — — Mar 28, 2011 $0.027985 $0.027985 — — Feb 23, 2011 $0.023374 $0.023374 — — Jan 26, 2011 $0.024929 $0.024929 — — Dec 28, 2010 $0.571649 $0.081949 $0.330400 $0.159300 Nov 24, 2010 $0.024497 $0.024497 — — Oct 26, 2010 $0.023004 $0.023004 — — Sep 27, 2010 $0.024288 $0.024288 — — Aug 26, 2010 $0.023124 $0.023124 — — Jul 27, 2010 $0.024233 $0.024233 — — Jun 25, 2010 $0.023715 $0.023715 — — May 25, 2010 $0.018995 $0.018995 — — Apr 27, 2010 $0.021124 $0.021124 — — Mar 26, 2010 $0.023241 $0.023241 — — Feb 23, 2010 $0.018649 $0.018649 — — Jan 26, 2010 $0.021956 $0.021956 — — Dec 28, 2009 $0.206862 $0.075942 $0.130920 — Nov 24, 2009 $0.024234 $0.024234 — — Oct 27, 2009 $0.029070 $0.029070 — — Sep 25, 2009 $0.035233 $0.035233 — — Aug 26, 2009 $0.033894 $0.033894 — — Jul 28, 2009 $0.037831 $0.037831 — — Jun 25, 2009 $0.034025 $0.034025 — — May 26, 2009 $0.033173 $0.033173 — — Apr 27, 2009 $0.043986 $0.043986 — — Mar 26, 2009 $0.037950 $0.037950 — — Feb 24, 2009 $0.032848 $0.032848 — — Jan 27, 2009 $0.035250 $0.035250 — — Dec 26, 2008 $0.719655 $0.041955 $0.467400 $0.210300 Nov 24, 2008 $0.034439 $0.034439 — — Oct 28, 2008 $0.043198 $0.043198 — — Sep 25, 2008 $0.034588 $0.034588 — — Aug 26, 2008 $0.033589 $0.033589 — — Jul 28, 2008 $0.040929 $0.040929 — — Jun 25, 2008 $0.035721 $0.035721 — — May 27, 2008 $0.039340 $0.039340 — — Apr 25, 2008 $0.041743 $0.041743 — — Mar 26, 2008 $0.036778 $0.036778 — — Feb 26, 2008 $0.038531 $0.038531 — — Jan 28, 2008 $0.044592 $0.044592 — — Dec 26, 2007 $0.090886 $0.090886 — — Nov 27, 2007 $0.041015 $0.041015 — — Oct 26, 2007 $0.045898 $0.045898 — — Sep 25, 2007 $0.038518 $0.038518 — — Aug 28, 2007 $0.044104 $0.044104 — — Jul 26, 2007 $0.040448 $0.040448 — — Jun 26, 2007 $0.038524 $0.038524 — — May 25, 2007 $0.044343 $0.044343 — — Apr 25, 2007 $0.040207 $0.040207 — — Mar 27, 2007 $0.040102 $0.040102 — — Feb 23, 2007 $0.038148 $0.038148 — — Jan 26, 2007 $0.045021 $0.045021 — — Dec 26, 2006 $0.038824 $0.038824 — — Nov 27, 2006 $0.043317 $0.043317 — — Oct 26, 2006 $0.041680 $0.041680 — — Sep 26, 2006 $0.038931 $0.038931 — — Aug 28, 2006 $0.044656 $0.044656 — — Jul 26, 2006 $0.040523 $0.040523 — — Jun 27, 2006 $0.043044 $0.043044 — — May 25, 2006 $0.038797 $0.038797 — — Apr 25, 2006 $0.037237 $0.037237 — — Mar 28, 2006 $0.041307 $0.041307 — — Feb 23, 2006 $0.035374 $0.035374 — — Jan 26, 2006 $0.039405 $0.039405 — — Dec 27, 2005 $0.036543 $0.036543 — — Nov 25, 2005 $0.038162 $0.038162 — — Oct 26, 2005 $0.035126 $0.035126 — — Sep 27, 2005 $0.034208 $0.034208 — — Aug 26, 2005 $0.036801 $0.036801 — — Jul 26, 2005 $0.033982 $0.033982 — — Jun 27, 2005 $0.034867 $0.034867 — — May 25, 2005 $0.027817 $0.027817 — — Apr 26, 2005 $0.024172 $0.024172 — — Mar 28, 2005 $0.021993 $0.021993 — — Feb 28, 2005 $0.020144 $0.020144 — — Jan 31, 2005 $0.019115 $0.019115 — — Jan 13, 2005 $0.018500 — $0.018500 — Dec 31, 2004 $0.027928 $0.027928 — — Dec 17, 2004 $0.317100 — $0.109000 $0.208100 Nov 30, 2004 $0.021811 $0.021811 — — Oct 29, 2004 $0.023272 $0.023272 — — Sep 30, 2004 $0.016712 $0.016712 — — Aug 31, 2004 $0.019230 $0.019230 — — Jul 30, 2004 $0.023953 $0.023953 — — Jun 30, 2004 $0.018661 $0.018661 — — May 31, 2004 $0.020864 $0.020864 — — Apr 30, 2004 $0.023771 $0.023771 — — Mar 31, 2004 $0.023506 $0.023506 — — Feb 27, 2004 $0.016279 $0.016279 — — Jan 30, 2004 $0.018472 $0.018472 — — Dec 31, 2003 $0.020151 $0.020151 — — Dec 19, 2003 $0.049850 — $0.022770 $0.027080 Nov 28, 2003 $0.026468 $0.026468 — — Oct 31, 2003 $0.027531 $0.027531 — — Sep 30, 2003 $0.054684 $0.054684 — — Sep 24, 2003 $0.076300 — $0.042400 $0.033900 Aug 29, 2003 $0.027860 $0.027860 — — Jul 31, 2003 $0.024210 $0.024210 — — Jun 30, 2003 $0.024254 $0.024254 — — May 30, 2003 $0.030892 $0.030892 — — Apr 30, 2003 $0.031063 $0.031063 — — Mar 31, 2003 $0.027379 $0.027379 — — Feb 28, 2003 $0.024119 $0.024119 — — Jan 31, 2003 $0.030897 $0.030897 — — Dec 31, 2002 $0.033150 $0.033150 — — Dec 20, 2002 $0.268500 — $0.183600 $0.084900 Nov 29, 2002 $0.034572 $0.034572 — — Oct 31, 2002 $0.032536 $0.032536 — — Sep 30, 2002 $0.027346 $0.027346 — — Aug 30, 2002 $0.029217 $0.029217 — — Jul 31, 2002 $0.029374 $0.029374 — — Jun 28, 2002 $0.027308 $0.027308 — — May 31, 2002 $0.034508 $0.034508 — — Apr 30, 2002 $0.035671 $0.035671 — — Mar 29, 2002 $0.039151 $0.039151 — — Feb 28, 2002 $0.031603 $0.031603 — — Jan 31, 2002 $0.032143 $0.032143 — — Dec 31, 2001 $0.114270 $0.114270 — — Dec 20, 2001 $0.126330 — $0.015430 $0.110900 Nov 30, 2001 $0.038486 $0.038486 — — Oct 31, 2001 $0.032551 $0.032551 — — Oct 30, 2001 $0.121980 — $0.121980 — Sep 28, 2001 $0.030799 $0.030799 — — Aug 31, 2001 $0.041290 $0.041290 — — Jul 31, 2001 $0.041850 $0.041850 — — Jun 29, 2001 $0.044525 $0.044525 — — May 31, 2001 $0.043469 $0.043469 — — Apr 30, 2001 $0.044119 $0.044119 — — Mar 30, 2001 $0.050298 $0.050298 — — Feb 28, 2001 $0.045025 $0.045025 — — Jan 31, 2001 $0.047399 $0.047399 — — Dec 29, 2000 $0.054250 $0.054250 — — Nov 30, 2000 $0.055042 $0.055042 — — Oct 31, 2000 $0.139071 $0.139071 — — Sep 29, 2000 $0.056127 $0.056127 — — Aug 31, 2000 $0.055338 $0.055338 — — Jul 31, 2000 $0.048804 $0.048804 — — Jun 30, 2000 $0.053697 $0.053697 — — May 31, 2000 $0.050129 $0.050129 — — Apr 28, 2000 $0.041572 $0.041572 — — Mar 31, 2000 $0.056290 $0.056290 — — Feb 29, 2000 $0.052204 $0.052204 — — Jan 31, 2000 $0.047184 $0.047184 — — Dec 31, 1999 $0.054175 $0.054175 — — Nov 30, 1999 $0.049675 $0.049675 — — Oct 29, 1999 $0.038297 $0.038297 — — Sep 30, 1999 $0.047184 $0.047184 — — Aug 31, 1999 $0.050695 $0.050695 — — Jul 30, 1999 $0.053102 $0.053102 — — Jun 30, 1999 $0.050390 $0.050390 — — May 31, 1999 $0.050907 $0.050907 — — Apr 30, 1999 $0.048114 $0.048114 — — Mar 31, 1999 $0.048877 $0.048877 — — Feb 26, 1999 $0.047283 $0.047283 — — Jan 29, 1999 $0.045048 $0.045048 — — Dec 31, 1998 $0.066748 $0.066748 — — Dec 15, 1998 $0.184100 — $0.060700 $0.123400 Nov 30, 1998 $0.050886 $0.050886 — — Oct 30, 1998 $0.140507 $0.050507 $0.090000 — Sep 30, 1998 $0.049441 $0.049441 — — Aug 31, 1998 $0.048162 $0.048162 — — Jul 31, 1998 $0.054840 $0.054840 — — Jun 30, 1998 $0.050924 $0.050924 — — May 29, 1998 $0.051520 $0.051520 — — Apr 30, 1998 $0.050024 $0.050024 — — Mar 31, 1998 $0.048372 $0.048372 — — Feb 27, 1998 $0.047201 $0.047201 — — Jan 30, 1998 $0.050464 $0.050464 — — Dec 31, 1997 $0.051034 $0.051034 — — Dec 15, 1997 $0.092370 — $0.009030 $0.083340 Nov 28, 1997 $0.049956 $0.049956 — — Oct 31, 1997 $0.072015 $0.052015 $0.020000 — Sep 30, 1997 $0.049264 $0.049264 — — Aug 29, 1997 $0.053550 $0.053550 — — Jul 31, 1997 $0.053914 $0.053914 — — Jun 30, 1997 $0.050408 $0.050408 — — May 30, 1997 $0.054654 $0.054654 — — Apr 30, 1997 $0.053785 $0.053785 — — Mar 31, 1997 $0.049329 $0.049329 — — Feb 28, 1997 $0.051477 $0.051477 — — Jan 31, 1997 $0.055600 $0.055600 — — Dec 31, 1996 $0.074069 $0.074069 — — Nov 29, 1996 $0.058818 $0.058818 — — Oct 31, 1996 $0.058593 $0.058593 — — Sep 30, 1996 $0.052234 $0.052234 — — Aug 30, 1996 $0.058856 $0.058856 — — Jul 31, 1996 $0.057419 $0.057419 — — Jun 28, 1996 $0.051484 $0.051484 — — May 31, 1996 $0.058785 $0.058785 — — Apr 30, 1996 $0.056474 $0.056474 — — Mar 29, 1996 $0.055535 $0.055535 — — Feb 29, 1996 $0.052225 $0.052225 — — Jan 31, 1996 $0.052722 $0.052722 — — Dec 29, 1995 $0.279536 $0.058376 $0.020370 $0.200790 Nov 30, 1995 $0.053613 $0.053613 — — Oct 31, 1995 $0.054218 $0.054218 — — Sep 29, 1995 $0.056117 $0.056117 — — Aug 31, 1995 $0.047766 $0.047766 — — Jul 31, 1995 $0.048297 $0.048297 — — Jun 30, 1995 $0.053167 $0.053167 — — May 31, 1995 $0.051272 $0.051272 — — Apr 28, 1995 $0.050812 $0.050812 — — Mar 31, 1995 $0.059634 $0.059634 — — Feb 28, 1995 $0.054490 $0.054490 — — Jan 31, 1995 $0.054468 $0.054468 — — Dec 30, 1994 $0.058543 $0.058543 — — Nov 30, 1994 $0.052168 $0.052168 — — Oct 31, 1994 $0.047988 $0.047988 — — Sep 30, 1994 $0.044174 $0.044174 — — Aug 31, 1994 $0.043532 $0.043532 — — Jul 29, 1994 $0.049418 $0.049418 — — Jun 30, 1994 $0.042522 $0.042522 — — May 31, 1994 $0.044743 $0.044743 — — Apr 29, 1994 $0.046283 $0.046283 — — Mar 31, 1994 $0.038431 $0.038431 — — Feb 28, 1994 $0.040046 $0.040046 — — Jan 31, 1994 $0.043250 $0.043250 — — Dec 31, 1993 $0.048987 $0.048987 — — Nov 30, 1993 $0.044881 $0.044881 — — Oct 29, 1993 $0.053141 $0.046341 $0.006800 — Sep 30, 1993 $0.044977 $0.044977 — — Aug 31, 1993 $0.044573 $0.044573 — — Jul 30, 1993 $0.046640 $0.046640 — — Jun 30, 1993 $0.048840 $0.048840 — — May 28, 1993 $0.042528 $0.042528 — — From: To: Risk & Return Stats As of: 08/31/2023 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. 0.04 -0.17 -0.31 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 6.44 6.04 4.80 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. -0.98 -0.22 0.04 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 105.69 110.33 110.59 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 104.79 109.41 111.03 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.07 1.08 1.08 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 98.62 93.87 93.83 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 0.86 1.55 1.25 View All Characteristics & Stats All Characteristics & Stats GW&K Core Bond ESG Fund (MBDFX) Portfolio Characteristics (Fixed Income) Risk & Return Effective Maturity Fund Holdings Fund Bloomberg US Aggregate Bond Index Fund Assets (Mil.$) $140 Number of Holdings 99 13362 Average Effective Duration (years) 6.35 6.31 Average Modified Duration (years) 6.51 Convexity 0.27 0.6 Average Maturity (years) 8.65 8.6 Yield to Maturity 4.96% 4.81% Yield to Worst 4.96% 4.81% Current Yield 3.85% 3.21% SEC 30-Day Yield (%) 3.69% SEC 30-Day Yield (%) w/o fee 3.58% Average Coupon 3.64% 2.88% Average Price 92.8 89.79 Average Credit Quality AA AA1/AA2 Trailing 12-Months Portfolio Turnover 25.28% % Callable 43.99% % Non-US 3.49% Adjustable Coupon 7.97% Step Coupon 0.00% Zero Coupon 0.00% As of: 06/30/2023 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. 0.04 -0.17 -0.31 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 6.44 6.04 4.80 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. -0.98 -0.22 0.04 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 105.69 110.33 110.59 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 104.79 109.41 111.03 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.07 1.08 1.08 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 98.62 93.87 93.83 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 0.86 1.55 1.25 Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.31 -0.10 -0.17 Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. -5.90 -1.26 0.19 Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -18.22 -18.22 -18.22 As of: 08/31/2023 Maturity Fund Less Than 2 Years 3.20% 2 to 5 Years 23.00% 5 to 10 Years 55.06% 10 to 15 Years 1.35% More Than 15 Years 17.40% NA 0.00% As of: 06/30/2023 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Fixed) As of: 06/30/2023 United States Treasury Note/Bond Fixed 3.91% United States Treasury Note/Bond Fixed 2.59% Freddie Mac Pool ZS9495 Fixed 2.40% Verizon Communications Inc Fixed 2.15% State Of California Fixed 2.08% Fannie Mae Pool FM3229 Fixed 2.04% United States Treasury Note/Bond Fixed 2.00% Freddie Mac Pool SD7507 Fixed 1.98% Freddie Mac Pool SD3000 Fixed 1.94% United States Treasury Note/Bond Fixed 1.88% % in Top 10 Holdings 22.96% View Holding Details Holding Details GW&K Core Bond ESG Fund (MBDFX) Top 10 Holdings (Fixed Income) All Holdings Fund Holdings Coupon Maturity % of Net Assets United States Treasury Note/Bond Fixed 2.25% May 2041 3.91% United States Treasury Note/Bond Fixed 3.5% Feb 2039 2.59% Freddie Mac Pool ZS9495 Fixed 3.5% Oct 2045 2.40% Verizon Communications Inc Fixed 3.88% Feb 2029 2.15% State Of California Fixed 7.55% Apr 2039 2.08% Fannie Mae Pool FM3229 Fixed 3.5% Feb 2047 2.04% United States Treasury Note/Bond Fixed 3.13% May 2048 2.00% Freddie Mac Pool SD7507 Fixed 3% Nov 2049 1.98% Freddie Mac Pool SD3000 Fixed 5.5% Jun 2053 1.94% United States Treasury Note/Bond Fixed 1.88% Feb 2051 1.88% % in Top 10 Holdings 22.96% As of: 06/30/2023 Download All Holdings (PDF) As of: 08/31/2023 Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund United States Treasury Note/Bond Fixed 2.25% May 2041 U.S. Government B US USD 7,080,000 73.68 $5,216,798 3.93% United States Treasury Note/Bond Fixed 3.50% Feb 2039 U.S. Government B US USD 3,777,000 91.92 $3,471,742 2.62% Freddie Mac Pool ZS9495 Fixed 3.50% Oct 2045 Mortgage-Backed Security B US USD 3,532,245 91.23 $3,222,561 2.43% Verizon Communications Inc Fixed 3.88% Feb 2029 Corporate B US USD 3,203,000 93.44 $2,992,862 2.26% State Of California Fixed 7.55% Apr 2039 Municipal Bond B US USD 2,310,000 123.39 $2,850,240 2.15% Fannie Mae Pool FM3229 Fixed 3.50% Feb 2047 Mortgage-Backed Security B US USD 2,981,077 92.09 $2,745,369 2.07% Freddie Mac Pool SD7507 Fixed 3.00% Nov 2049 Mortgage-Backed Security B US USD 3,028,943 87.71 $2,656,546 2.00% Freddie Mac Pool SD3000 Fixed 5.50% Jun 2053 Mortgage-Backed Security B US USD 2,671,527 99.11 $2,647,658 2.00% United States Treasury Note/Bond Fixed 3.13% May 2048 U.S. Government B US USD 3,234,000 81.22 $2,626,614 1.98% United States Treasury Note/Bond Fixed 1.88% Feb 2051 U.S. Government B US USD 3,958,000 61.69 $2,441,746 1.84% Goldman Sachs Group Inc Fixed 3.50% Nov 2026 Corporate B US USD 2,526,000 93.99 $2,374,266 1.79% Fannie Mae Pool AL0395 Fixed 4.50% Jun 2041 Mortgage-Backed Security B US USD 2,344,466 97.42 $2,283,921 1.72% Freddie Mac Pool SB0097 Fixed 2.50% Oct 2034 Mortgage-Backed Security B US USD 2,426,222 90.92 $2,205,800 1.66% Sysco Corp Fixed 2.40% Feb 2030 Corporate B US USD 2,209,000 84.49 $1,866,347 1.41% Los Angeles Unified School District Fixed 5.75% Jul 2034 Municipal Bond B US USD 1,775,000 104.43 $1,853,673 1.40% Fannie Mae Pool 930922 Fixed 4.50% Apr 2039 Mortgage-Backed Security B US USD 1,807,621 97.42 $1,760,955 1.33% Fannie Mae Pool 930921 Fixed 4.50% Apr 2039 Mortgage-Backed Security B US USD 1,807,510 97.42 $1,760,846 1.33% Crown Castle Inc Fixed 4.00% Mar 2027 Corporate B US USD 1,800,000 94.93 $1,708,697 1.29% Massachusetts School Building Authority Fixed 1.75% Aug 2030 Municipal Bond B US USD 2,017,000 83.36 $1,681,361 1.27% JPMorgan Chase & Co Floating Sep 2027 Corporate B US USD 1,877,000 88.33 $1,657,968 1.25% JobsOhio Beverage System Fixed 4.53% Jan 2035 Municipal Bond B US USD 1,705,000 96.99 $1,653,688 1.25% Ashtead Capital Inc Fixed 1.50% Aug 2026 144A Corporate B US USD 1,786,000 88.79 $1,585,827 1.20% Fannie Mae Pool CA1354 Fixed 3.50% Mar 2048 Mortgage-Backed Security B US USD 1,728,600 90.94 $1,572,025 1.18% AerCap Ireland Capital DAC Fixed 1.65% Oct 2024 Corporate B IE USD 1,650,000 95.07 $1,568,684 1.18% Dell International LLC Fixed 6.20% Jul 2030 Corporate B US USD 1,512,000 102.91 $1,556,008 1.17% American Tower Corp Fixed 3.60% Jan 2028 Corporate B US USD 1,680,000 92.29 $1,550,555 1.17% CommonSpirit Health Fixed 3.35% Oct 2029 Corporate B US USD 1,737,000 89.12 $1,548,067 1.17% Citigroup Inc Floating Mar 2030 Corporate B US USD 1,677,000 92.09 $1,544,418 1.16% Morgan Stanley Floating Jan 2030 Corporate B US USD 1,624,000 94.97 $1,542,236 1.16% United States Treasury Note/Bond Fixed 2.38% May 2027 U.S. Government B US USD 1,641,000 93.06 $1,527,156 1.15% Sonoco Products Co Fixed 2.85% Feb 2032 Corporate B US USD 1,852,000 82.03 $1,519,124 1.14% National Rural Utilities Cooperative Finance Corp Fixed 1.35% Mar 2031 Corporate B US USD 1,974,000 75.65 $1,493,320 1.13% Fannie Mae Pool AS6752 Fixed 3.50% Feb 2046 Mortgage-Backed Security B US USD 1,628,992 91.07 $1,483,495 1.12% Aircastle Ltd Fixed 4.25% Jun 2026 Corporate B US USD 1,562,000 94.90 $1,482,281 1.12% Fannie Mae Pool CA2626 Fixed 4.00% Nov 2048 Mortgage-Backed Security B US USD 1,543,294 94.07 $1,451,853 1.09% United States Treasury Note/Bond Fixed 2.00% Jun 2024 U.S. Government B US USD 1,492,000 97.25 $1,451,028 1.09% Kraft Heinz Foods Co Fixed 3.88% May 2027 Corporate B US USD 1,518,000 95.52 $1,450,061 1.09% Amazon.com Inc Fixed 4.60% Dec 2025 Corporate B US USD 1,455,000 99.25 $1,444,094 1.09% Freddie Mac Pool ZT0542 Fixed 4.00% Jul 2048 Mortgage-Backed Security B US USD 1,517,151 94.04 $1,426,704 1.08% Parker-Hannifin Corp Fixed 3.25% Jun 2029 Corporate B US USD 1,573,000 90.42 $1,422,247 1.07% United States Treasury Note/Bond Fixed 6.75% Aug 2026 U.S. Government B US USD 1,339,000 106.03 $1,419,706 1.07% Eastman Chemical Co Fixed 5.75% Mar 2033 Corporate B US USD 1,436,000 98.63 $1,416,307 1.07% Ford Foundation Fixed 2.42% Jun 2050 Corporate B US USD 2,207,000 62.85 $1,387,014 1.05% Microsoft Corp Fixed 2.52% Jun 2050 Corporate B US USD 2,090,000 66.10 $1,381,592 1.04% Korea Development Bank Fixed 0.50% Oct 2023 Foreign Government B KR USD 1,385,000 99.25 $1,374,632 1.04% PNC Financial Services Group Inc Floating Jan 2034 Corporate B US USD 1,426,000 94.72 $1,350,704 1.02% Merck & Co Inc Fixed 1.90% Dec 2028 Corporate B US USD 1,547,000 86.90 $1,344,352 1.01% MetLife Inc Floating Perpetual Corporate B US USD 1,409,000 92.21 $1,299,240 0.98% Jacobs Engineering Group Inc Fixed 5.90% Mar 2033 Corporate B US USD 1,291,000 98.94 $1,277,298 0.96% Wells Fargo & Co Floating Apr 2051 Corporate B US USD 1,411,000 90.30 $1,274,098 0.96% Fannie Mae Pool FM5768 Fixed 4.00% Nov 2044 Mortgage-Backed Security B US USD 1,310,896 95.01 $1,245,498 0.94% University Of California Fixed 3.35% Jul 2029 Municipal Bond B US USD 1,310,000 93.42 $1,223,763 0.92% Alcoa Nederland Holding BV Fixed 4.13% Mar 2029 144A Corporate B NL USD 1,275,000 90.00 $1,147,472 0.86% Freddie Mac Pool ZS4051 Fixed 5.00% Jul 2044 Mortgage-Backed Security B US USD 1,140,754 99.93 $1,139,983 0.86% United States Treasury Note/Bond Fixed 3.50% Apr 2030 U.S. Government B US USD 1,176,000 95.88 $1,127,490 0.85% Fannie Mae Pool AV7104 Fixed 4.00% Mar 2044 Mortgage-Backed Security B US USD 1,184,625 95.00 $1,125,398 0.85% Bank of America Corp Floating Mar 2050 Corporate B US USD 1,300,000 84.71 $1,101,234 0.83% Comcast Corp Fixed 4.65% Feb 2033 Corporate B US USD 1,115,000 97.54 $1,087,589 0.82% Freddie Mac Pool RA3194 Fixed 2.50% Aug 2050 Mortgage-Backed Security B US USD 1,295,432 83.60 $1,083,019 0.82% United States Treasury Note/Bond Fixed 5.00% May 2037 U.S. Government B US USD 978,000 109.32 $1,069,114 0.81% United States Treasury Note/Bond Fixed 3.50% Feb 2033 U.S. Government B US USD 1,116,000 95.23 $1,062,816 0.80% Fannie Mae Pool 930920 Fixed 4.50% Apr 2039 Mortgage-Backed Security B US USD 1,076,973 97.42 $1,049,172 0.79% Fannie Mae Pool FM7323 Fixed 5.00% Jul 2047 Mortgage-Backed Security B US USD 1,043,675 99.93 $1,042,964 0.79% Air Products and Chemicals Inc Fixed 4.80% Mar 2033 Corporate B US USD 1,030,000 99.37 $1,023,534 0.77% Fannie Mae Pool CA8645 Fixed 4.00% Jan 2051 Mortgage-Backed Security B US USD 1,038,773 92.94 $965,400 0.73% Bank Of New York Mellon Corp Fixed 2.45% Aug 2026 Corporate B US USD 937,000 92.57 $867,407 0.65% Freddie Mac Pool QA8185 Fixed 3.00% Mar 2050 Mortgage-Backed Security B US USD 974,261 87.70 $854,454 0.64% Fannie Mae Pool AL6632 Fixed 3.50% Mar 2030 Mortgage-Backed Security B US USD 874,808 95.74 $837,579 0.63% Fannie Mae Pool FS1891 Fixed 4.00% Jan 2050 Mortgage-Backed Security B US USD 880,277 94.04 $827,828 0.62% Fannie Mae Pool CA7328 Fixed 2.00% Oct 2050 Mortgage-Backed Security B US USD 1,024,436 80.79 $827,643 0.62% Smith & Nephew PLC Fixed 2.03% Oct 2030 Corporate B GB USD 1,010,000 79.12 $799,140 0.60% Fannie Mae Pool BM5508 Fixed 5.00% Feb 2049 Mortgage-Backed Security B US USD 805,349 98.34 $791,964 0.60% Fannie Mae Pool BM5603 Fixed 4.00% Nov 2048 Mortgage-Backed Security B US USD 832,668 93.92 $782,023 0.59% Bank of New York Mellon Corp Floating Perpetual Corporate B US USD 795,000 97.02 $771,277 0.58% Commonwealth of Massachusetts Fixed 4.11% Jul 2031 Municipal Bond B US USD 783,519 97.29 $762,298 0.57% Fannie Mae Pool AL8818 Fixed 3.50% Feb 2045 Mortgage-Backed Security B US USD 824,757 91.78 $756,953 0.57% PulteGroup Inc Fixed 5.00% Jan 2027 Corporate B US USD 761,000 98.52 $749,764 0.56% California Health Facilities Financing Authority Fixed 4.19% Jun 2037 Municipal Bond B US USD 775,000 90.64 $702,433 0.53% Fannie Mae Pool FM6147 Fixed 2.00% Feb 2036 Mortgage-Backed Security B US USD 788,975 88.31 $696,769 0.53% Fannie Mae Pool FM1577 Fixed 3.50% Sep 2034 Mortgage-Backed Security B US USD 691,515 95.15 $657,994 0.50% Northern States Power Co Fixed 2.90% Mar 2050 Corporate B US USD 1,000,000 65.79 $657,873 0.50% Freddie Mac Gold Pool G16207 Fixed 3.50% Jul 2032 Mortgage-Backed Security B US USD 682,687 95.77 $653,814 0.49% Fannie Mae Pool FS0833 Fixed 3.00% Jun 2038 Mortgage-Backed Security B US USD 688,507 93.25 $642,067 0.48% Fannie Mae Pool BM1778 Fixed 4.00% Feb 2047 Mortgage-Backed Security B US USD 642,534 94.58 $607,680 0.46% Freddie Mac Pool RA3586 Fixed 4.00% Sep 2050 Mortgage-Backed Security B US USD 619,197 93.06 $576,196 0.43% Fannie Mae Pool CA2044 Fixed 4.50% Jul 2048 Mortgage-Backed Security B US USD 569,510 96.55 $549,855 0.41% Fannie Mae Pool FM5891 Fixed 3.50% Jan 2048 Mortgage-Backed Security B US USD 596,029 91.39 $544,694 0.41% Fannie Mae Pool AL6729 Fixed 3.50% May 2044 Mortgage-Backed Security B US USD 579,713 92.15 $534,230 0.40% Fannie Mae Pool FS1125 Fixed 3.50% Jul 2050 Mortgage-Backed Security B US USD 547,773 91.12 $499,154 0.38% Fannie Mae Pool FS2587 Fixed 4.50% Aug 2052 Mortgage-Backed Security B US USD 451,998 95.08 $429,741 0.32% Freddie Mac Gold Pool G07849 Fixed 3.50% May 2044 Mortgage-Backed Security B US USD 459,032 92.21 $423,269 0.32% Fannie Mae Pool AS8683 Fixed 3.50% Jan 2047 Mortgage-Backed Security B US USD 456,223 91.05 $415,378 0.31% Fannie Mae Pool CA8234 Fixed 3.00% Dec 2050 Mortgage-Backed Security B US USD 379,659 87.41 $331,849 0.25% Fannie Mae Pool FM9362 Fixed 3.00% Jun 2038 Mortgage-Backed Security B US USD 345,669 93.24 $322,317 0.24% Fannie Mae Pool FM1258 Fixed 4.00% Jul 2049 Mortgage-Backed Security B US USD 302,792 93.52 $283,184 0.21% JPMorgan Chase & Co Floating Perpetual Corporate B US USD 275,000 99.50 $273,625 0.21% Freddie Mac Pool SD1015 Fixed 4.50% May 2048 Mortgage-Backed Security B US USD 271,987 97.42 $264,966 0.20% Bank of America Corp Floating Perpetual Corporate B US USD 265,000 99.50 $263,675 0.20% Toyota Auto Receivables 2021-B Owner Trust Fixed 0.53% Oct 2026 Asset-Backed Security B US USD 257,000 92.65 $238,098 0.18% Fannie Mae Pool FM1420 Fixed 3.50% Dec 2047 Mortgage-Backed Security B US USD 145,234 91.24 $132,515 0.10% Fannie Mae Pool AL7689 Fixed 3.50% Nov 2030 Mortgage-Backed Security B US USD 110,857 95.25 $105,597 0.08% Cash & Equivalents Cash C US USD - - $1,948,970 1.47% Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Fixed) As of: 06/30/2023 View Allocation Details Allocation Details GW&K Core Bond ESG Fund (MBDFX) Sector Allocation (Fixed Income) Credit Allocation Sector Sort Order Fund Bloomberg US Aggregate Bond Index U.S. Agency 10 0.00% 1.09% U.S. Treasury 20 17.83% 41.03% Sovereign Debt 30 0.98% 3.96% Corporate 60 36.02% 24.79% Investment Grade 70 36.02% 24.79% Non-Investment Grade & Not Rated 100 0.00% 0.00% Mortgage-Backed Security 130 34.73% 28.65% Asset-Backed Security 170 0.00% 0.47% Municipal Bond 180 7.96% 0.00% Other Bonds 190 0.00% 0.00% Interest Rate Futures 200 0.00% 0.00% Equity Futures 210 0.00% 0.00% Swaps, Caps, and Floors 220 0.00% 0.00% Preferred Stock 230 0.00% 0.00% Options 240 0.00% 0.00% Other Sectors 250 0.00% 0.00% Cash 270 2.48% As of: 06/30/2023 Credit 06/30/2023 Treasury 18.28% Agency 35.61% AAA 4.13% AA 11.98% A 12.14% BBB 17.86% BB 0.00% B 0.00% CCC 0.00% CC 0.00% C 0.00% D 0.00% Not Rated 0.00% As of: 06/30/2023 Read Important Investment Disclosures Investment Approach Investment Approach GW&K Core Bond ESG Fund GW&K believes that a multi-sector approach takes advantage of the relative valuations among distinct bond sectors and provides greater opportunities to generate income and capital appreciation, while helping to manage risk in changing economic environments. The Fund invests in a diversified portfolio of fixed income securities. When deciding which securities to buy or sell, typically, GW&K: Incorporates ESG factors among many other fundamental, technical and valuation factors Seeks companies that maintain sustainable competitive advantages and expect to benefit from emerging cyclical or secular drivers Seeks to identify companies that are undervalued due to temporary or discrete events Identifies companies that it believes are leaders in effectively addressing exposure to ESG risks through robust business practices, policies and programs or companies that have more limited exposure to ESG risks. Uses top-down research that focuses on managing: duration, yield curve, credit quality, volatility and liquidity Uses bottom-up research that focuses on: fundamental analysis, valuation analysis and technical analysis The Rising Tide of ESG Investing ESG investing, once considered an outlier, has moved to a mainstay of the investment management industry. Read Blog 5 Questions Every Advisor Should Ask Their Clients About ESG With 7 in 10 adults in the U.S. expressing interest in investments that look beyond financial considerations to consider a company’s carbon emissions, labor practices, or regulatory and compliance history, ESG investing can also be a big opportunity for advisors—if they ask their clients the right questions. Read Blog About About GW&K Investment Management Background GW&K Investment Management is a dynamic investment management firm that offers asset allocation, active equity, and fixed income investment solutions to help meet the needs of a diverse client base. GW&K’s founding principles of applying rigorous fundamental research, focusing on quality, and maintaining a long-term view still guide its investment process today. Learn More More Products From GW&K Investment Management TLEVX GW&K Emerging Markets Equity Fund Seeks to provide long-term capital appreciation by investing in companies located in emerging market countries. View Fund Details TYWVX GW&K Emerging Wealth Equity Fund Seeks to provide long-term capital appreciation by investing in emerging market companies and developed market companies that have emerging markets revenue exposure. View Fund Details MFDAX GW&K Enhanced Core Bond ESG Fund The Fund seeks to generate income and capital appreciation by primarily investing in a diversified portfolio of fixed income securities. View Fund Details MGFIX GW&K ESG Bond Fund The Fund seeks to generate income and capital appreciation by primarily investing in a diversified portfolio of fixed income securities. View Fund Details MBEAX GW&K Global Allocation Fund Long-term capital appreciation and moderate current income View Fund Details MGGBX GW&K High Income Fund The Fund seeks high income. View Fund Details MECAX GW&K International Small Cap Fund Seeks long-term capital appreciation. View Fund Details GWMTX GW&K Municipal Bond Fund The Fund seeks to provide current income, exempt from federal income tax, and capital preservation by primarily investing in a portfolio of high-quality municipal bonds. View Fund Details MESHX GW&K Municipal Enhanced SMA Shares View Fund Details GWMNX GW&K Municipal Enhanced Yield Fund The Fund seeks to provide a high level of current income that is exempt from federal income taxes by primarily investing in municipal bonds. View Fund Details GWETX GW&K Small Cap Core Fund The Fund seeks to provide long-term capital appreciation by primarily investing in U.S. small cap stocks. View Fund Details SKSEX GW&K Small Cap Value Fund Seeks capital appreciation. View Fund Details GWGVX GW&K Small/Mid Cap Core Fund The Fund seeks to provide long-term capital appreciation by primarily investing in small to mid cap stocks exhibiting growth and value characteristics. View Fund Details ACWDX GW&K Small/Mid Cap Growth Fund The Fund seeks to provide long-term capital appreciation by investing in small to mid cap stocks exhibiting consistent, sustainable earnings growth. View Fund Details Read Important Investment Disclosures Founded 1974 Headquarters Boston, MA Affiliate Since 2008 Discover how the boutique advantage helps generate alpha. Learn More About AMG