Fund Overview

Fund Overview

Share Class

N

NAV | as of 08/11/2022

$9.34
-$0.05 (-0.53%)

Morningstar | Style Box

L M E H M L

Growth of $10,000 (Hypothetical)

Since Inception 05/08/2015 to 06/30/2022 = $10,747.95

  • 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 800.835.3879. 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.

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

Mary F. Kane, CFA

PARTNER AND PORTFOLIO MANAGER

Stephen J. Repoff, CFA

PRINCIPAL, PORTFOLIO MANAGER

Performance

Performance

Read Important Investment Disclosures

Returns

Trailing 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 800.835.3879. 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: 0.94%
  • Net Expense Ratio: 0.88%
  • Expense Cap Expiration Date: 03/01/2023

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Jul 27, 2022 $0.014400 $0.014400
Jun 28, 2022 $0.013400 $0.013400
May 26, 2022 $0.012900 $0.012900
Apr 27, 2022 $0.011100 $0.011100
Mar 29, 2022 $0.010700 $0.010700
Feb 24, 2022 $0.009100 $0.009100
Jan 27, 2022 $0.003000 $0.003000
Dec 15, 2021 $0.266100 $0.013300 $0.026200 $0.226600
Nov 26, 2021 $0.009100 $0.009100
Oct 27, 2021 $0.008100 $0.008100
Sep 28, 2021 $0.008900 $0.008900
Aug 27, 2021 $0.009300 $0.009300
Jul 28, 2021 $0.009100 $0.009100
Jun 28, 2021 $0.010000 $0.010000
May 26, 2021 $0.008100 $0.008100
Apr 28, 2021 $0.007300 $0.007300
Mar 29, 2021 $0.011600 $0.011600
Feb 24, 2021 $0.011700 $0.011700
Jan 27, 2021 $0.013500 $0.013500
Dec 16, 2020 $0.011600 $0.011600
Nov 25, 2020 $0.012200 $0.012200
Oct 28, 2020 $0.013400 $0.013400
Sep 28, 2020 $0.013000 $0.013000
Aug 27, 2020 $0.012500 $0.012500
Jul 29, 2020 $0.012900 $0.012900
Jun 26, 2020 $0.013500 $0.013500
May 27, 2020 $0.015000 $0.015000
Apr 28, 2020 $0.015100 $0.015100
Mar 27, 2020 $0.016500 $0.016500
Feb 26, 2020 $0.017400 $0.017400
Jan 29, 2020 $0.015000 $0.015000
Dec 16, 2019 $0.021300 $0.021300
Nov 26, 2019 $0.019100 $0.019100
Oct 29, 2019 $0.018000 $0.018000
Sep 26, 2019 $0.017000 $0.017000
Aug 28, 2019 $0.018800 $0.018800
Jul 29, 2019 $0.017600 $0.017600
Jun 26, 2019 $0.018000 $0.018000
May 29, 2019 $0.019100 $0.019100
Apr 26, 2019 $0.017700 $0.017700
Mar 27, 2019 $0.019500 $0.019500
Feb 26, 2019 $0.017500 $0.017500
Jan 29, 2019 $0.016900 $0.016900
Dec 27, 2018 $0.015000 $0.015000
Nov 28, 2018 $0.018300 $0.018300
Oct 29, 2018 $0.016200 $0.016200
Sep 26, 2018 $0.016800 $0.016800
Aug 29, 2018 $0.017000 $0.017000
Jul 27, 2018 $0.016300 $0.016300
Jun 27, 2018 $0.015500 $0.015500
May 29, 2018 $0.016200 $0.016200
Apr 26, 2018 $0.014100 $0.014100
Mar 27, 2018 $0.015600 $0.015600
Feb 26, 2018 $0.015500 $0.015500
Jan 29, 2018 $0.013600 $0.013600
Dec 27, 2017 $0.017800 $0.017800
Nov 27, 2017 $0.014900 $0.014900
Oct 26, 2017 $0.014600 $0.014600
Sep 26, 2017 $0.014600 $0.014600
Aug 28, 2017 $0.014500 $0.014500
Jul 26, 2017 $0.014700 $0.014700
Jun 27, 2017 $0.014700 $0.014700
May 25, 2017 $0.014400 $0.014400
Apr 25, 2017 $0.014200 $0.014200
Mar 28, 2017 $0.016200 $0.016200
Feb 23, 2017 $0.014900 $0.014900
Jan 26, 2017 $0.013500 $0.013500
Dec 27, 2016 $0.014400 $0.014400
Nov 25, 2016 $0.014500 $0.014500
Oct 26, 2016 $0.014500 $0.014500
Sep 27, 2016 $0.014100 $0.014100
Aug 26, 2016 $0.014500 $0.014500
Jul 26, 2016 $0.015500 $0.015500
Jun 27, 2016 $0.014900 $0.014900
May 25, 2016 $0.014500 $0.014500
Apr 26, 2016 $0.014600 $0.014600
Mar 28, 2016 $0.014700 $0.014700
Feb 24, 2016 $0.012800 $0.012800
Jan 26, 2016 $0.012600 $0.012600
Dec 28, 2015 $0.251900 $0.012900 $0.239000
Nov 24, 2015 $0.014900 $0.014900
Oct 27, 2015 $0.015500 $0.015500
Sep 25, 2015 $0.015600 $0.015600
Aug 26, 2015 $0.012500 $0.012500
Jul 28, 2015 $0.012700 $0.012700
Jun 25, 2015 $0.011600 $0.011600
May 26, 2015 $0.012600 $0.012600

Risk & Return Stats

As of: 07/31/2022

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.
-0.63 -0.63 -
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.
5.44 4.64 -
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.
-0.27 -0.08 -
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.
110.13 103.29 -
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.
117.55 113.36 -
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.
1.08 1.06 -
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.
88.27 89.62 -
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.
1.90 1.52 -
View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Fixed)

As of: 06/30/2022

United States Treasury Note/Bond Fixed 4.25%
United States Treasury Note/Bond Fixed 3.91%
United States Treasury Note/Bond Fixed 3.21%
Freddie Mac Pool ZS9495 Fixed 2.54%
United States Treasury Note/Bond Fixed 2.36%
United States Treasury Note/Bond Fixed 2.27%
Fannie Mae Pool FM3229 Fixed 2.15%
Verizon Communications Inc Fixed 2.09%
State Of California Fixed 2.08%
United States Treasury Note/Bond Fixed 1.96%
% in Top 10 Holdings 26.81%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Fixed)

As of: 06/30/2022

View Allocation Details

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

Equity Style Analysis: Growth vs. Value

Growth stocks have outperformed value stocks recently testing investor's patience to stay diversified. Although it is nearly impossible to predict when and to what extent growth and value performance trends will reverse themselves, historically they have. Rather than try to predict future trends, investors should consider remaining diversified over the long term.

Read Full Perspective

About

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

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Founded

1974


Headquarters

Boston, MA


Affiliate Since

2008

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