Fund Overview Fund Overview Share Class N N I Z NAV | as of 08/10/2022 $9.51 +$0.02 (+0.21%) Morningstar | Style Box L M E H M L Overall Morningstar Rating Rated against 568 Intermediate Core-Plus Bond funds as of 07/31/2022 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 01/02/1997 to 06/30/2022 = $32,351.55 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 800.835.3879. 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. 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 a diversified portfolio of fixed income securities Invests 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, while helping to manage risk in changing economic environments Documents Fact Sheet Commentary Summary Prospectus Prospectus 2021 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 Enhanced 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 Enhanced 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 07/31/2022 Overall Rating (of 568) 3 Years (of 568) 5 Years (of 503) 10 Years (of 362) Category Intermediate Core-Plus 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 800.835.3879. 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: 0.93% Net Expense Ratio: 0.73% Expense Cap Expiration Date: 05/01/2023 Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Jul 27, 2022 $0.016800 $0.016800 — — Jun 28, 2022 $0.016300 $0.016300 — — May 26, 2022 $0.015000 $0.015000 — — Apr 27, 2022 $0.011900 $0.011900 — — Mar 29, 2022 $0.012100 $0.012100 — — Feb 24, 2022 $0.010500 $0.010500 — — Jan 27, 2022 $0.010600 $0.010600 — — Dec 15, 2021 $0.017400 $0.017400 — — Nov 26, 2021 $0.011300 $0.011300 — — Oct 27, 2021 $0.010500 $0.010500 — — Sep 28, 2021 $0.011200 $0.011200 — — Aug 27, 2021 $0.012200 $0.012200 — — Jul 28, 2021 $0.012700 $0.012700 — — Jun 28, 2021 $0.012600 $0.012600 — — May 26, 2021 $0.012000 $0.012000 — — Apr 28, 2021 $0.012100 $0.012100 — — Mar 29, 2021 $0.013100 $0.013100 — — Feb 24, 2021 $0.012600 $0.012600 — — Jan 27, 2021 $0.015200 $0.015200 — — Dec 16, 2020 $0.013000 $0.013000 — — Nov 25, 2020 $0.013900 $0.013900 — — Oct 28, 2020 $0.014900 $0.014900 — — Sep 28, 2020 $0.014600 $0.014600 — — Aug 27, 2020 $0.015000 $0.015000 — — Jul 29, 2020 $0.014500 $0.014500 — — Jun 26, 2020 $0.017400 $0.017400 — — May 27, 2020 $0.017900 $0.017900 — — Apr 28, 2020 $0.017000 $0.017000 — — Mar 27, 2020 $0.019500 $0.019500 — — Feb 26, 2020 $0.018600 $0.018600 — — Jan 29, 2020 $0.019700 $0.019700 — — Dec 16, 2019 $0.023700 $0.023700 — — Nov 26, 2019 $0.017900 $0.017900 — — Oct 29, 2019 $0.017900 $0.017900 — — Sep 26, 2019 $0.018900 $0.018900 — — Aug 28, 2019 $0.020000 $0.020000 — — Jul 29, 2019 $0.021400 $0.021400 — — Jun 26, 2019 $0.021000 $0.021000 — — May 29, 2019 $0.021900 $0.021900 — — Apr 26, 2019 $0.022000 $0.022000 — — Mar 27, 2019 $0.022500 $0.022500 — — Feb 26, 2019 $0.020700 $0.020700 — — Jan 29, 2019 $0.020000 $0.020000 — — Dec 27, 2018 $0.022700 $0.022700 — — Nov 28, 2018 $0.019600 $0.019600 — — Oct 29, 2018 $0.020500 $0.020500 — — Sep 26, 2018 $0.019500 $0.019500 — — Aug 29, 2018 $0.019600 $0.019600 — — Jul 27, 2018 $0.021000 $0.021000 — — Jun 27, 2018 $0.019500 $0.019500 — — May 29, 2018 $0.019500 $0.019500 — — Apr 26, 2018 $0.017500 $0.017500 — — Mar 27, 2018 $0.019400 $0.019400 — — Feb 26, 2018 $0.018200 $0.018200 — — Jan 29, 2018 $0.016900 $0.016900 — — Dec 27, 2017 $0.021000 $0.021000 — — Nov 27, 2017 $0.017900 $0.017900 — — Oct 26, 2017 $0.017900 $0.017900 — — Sep 26, 2017 $0.017900 $0.017900 — — Aug 28, 2017 $0.017900 $0.017900 — — Jul 26, 2017 $0.017900 $0.017900 — — Jun 27, 2017 $0.019400 $0.019400 — — May 25, 2017 $0.019400 $0.019400 — — Apr 25, 2017 $0.020000 $0.020000 — — Mar 28, 2017 $0.019900 $0.019900 — — Feb 23, 2017 $0.014600 $0.014600 — — Jan 26, 2017 $0.016900 $0.016900 — — Dec 27, 2016 $0.020000 $0.020000 — — Nov 25, 2016 $0.019900 $0.019900 — — Oct 26, 2016 $0.017800 $0.017800 — — Sep 27, 2016 $0.017900 $0.017900 — — Aug 26, 2016 $0.019800 $0.019800 — — Jul 26, 2016 $0.019800 $0.019800 — — Jun 27, 2016 $0.017900 $0.017900 — — May 25, 2016 $0.017900 $0.017900 — — Apr 26, 2016 $0.017900 $0.017900 — — Mar 28, 2016 $0.017900 $0.017900 — — Feb 24, 2016 $0.018100 $0.018100 — — Jan 26, 2016 $0.019000 $0.019000 — — Dec 28, 2015 $0.024600 $0.024600 — — Nov 24, 2015 $0.022900 $0.022900 — — Oct 27, 2015 $0.021900 $0.021900 — — Sep 25, 2015 $0.021900 $0.021900 — — Aug 26, 2015 $0.023700 $0.023700 — — Jul 28, 2015 $0.023800 $0.023800 — — Jun 25, 2015 $0.025400 $0.025400 — — May 26, 2015 $0.023800 $0.023800 — — Apr 27, 2015 $0.025100 $0.025100 — — Mar 26, 2015 $0.026300 $0.026300 — — Feb 24, 2015 $0.026500 $0.026500 — — Jan 27, 2015 $0.024300 $0.024300 — — Dec 26, 2014 $0.024600 $0.024600 — — Nov 24, 2014 $0.024400 $0.024400 — — Oct 28, 2014 $0.024600 $0.024600 — — Sep 25, 2014 $0.024300 $0.024300 — — Aug 26, 2014 $0.024100 $0.024100 — — Jul 28, 2014 $0.023400 $0.023400 — — Jun 25, 2014 $0.022900 $0.022900 — — May 27, 2014 $0.024800 $0.024800 — — Apr 25, 2014 $0.025900 $0.025900 — — Mar 26, 2014 $0.025300 $0.025300 — — Feb 25, 2014 $0.025200 $0.025200 — — Jan 28, 2014 $0.022800 $0.022800 — — Dec 26, 2013 $1.084100 $0.036100 $0.048500 $0.999500 Nov 25, 2013 $0.026200 $0.026200 — — Oct 28, 2013 $0.022600 $0.022600 — — Sep 25, 2013 $0.016200 $0.016200 — — Aug 27, 2013 $0.015200 $0.015200 — — Jul 26, 2013 $0.014700 $0.014700 — — Jun 25, 2013 $0.015400 $0.015400 — — May 28, 2013 $0.022600 $0.022600 — — Apr 25, 2013 $0.017600 $0.017600 — — Mar 25, 2013 $0.020100 $0.020100 — — Feb 25, 2013 $0.017800 $0.017800 — — Jan 28, 2013 $0.037600 $0.037600 — — Dec 26, 2012 $0.156800 $0.047500 $0.001400 $0.107900 Nov 27, 2012 $0.032600 $0.032600 — — Oct 26, 2012 $0.036000 $0.036000 — — Sep 25, 2012 $0.036100 $0.036100 — — Aug 28, 2012 $0.040100 $0.040100 — — Jul 26, 2012 $0.036100 $0.036100 — — Jun 26, 2012 $0.042700 $0.042700 — — May 25, 2012 $0.055100 $0.055100 — — Apr 25, 2012 $0.035200 $0.035200 — — Mar 27, 2012 $0.032600 $0.032600 — — Feb 24, 2012 $0.041200 $0.041200 — — Jan 26, 2012 $0.040200 $0.040200 — — Dec 27, 2011 $0.244200 $0.069400 — $0.174800 Nov 25, 2011 $0.055200 $0.055200 — — Oct 26, 2011 $0.037700 $0.037700 — — Sep 27, 2011 $0.028300 $0.028300 — — Aug 26, 2011 $0.037600 $0.037600 — — Jul 26, 2011 $0.037600 $0.037600 — — Jun 27, 2011 $0.037600 $0.037600 — — May 25, 2011 $0.040100 $0.040100 — — Apr 26, 2011 $0.038300 $0.038300 — — Mar 28, 2011 $0.040100 $0.040100 — — Feb 23, 2011 $0.040400 $0.040400 — — Jan 26, 2011 $0.042600 $0.042600 — — Dec 28, 2010 $0.052800 $0.052800 — — Nov 24, 2010 $0.036600 $0.036600 — — Oct 26, 2010 $0.036100 $0.036100 — — Sep 27, 2010 $0.036200 $0.036200 — — Aug 26, 2010 $0.036200 $0.036200 — — Jul 27, 2010 $0.038200 $0.038200 — — Jun 25, 2010 $0.036300 $0.036300 — — May 25, 2010 $0.037700 $0.037700 — — Apr 27, 2010 $0.037800 $0.037800 — — Mar 26, 2010 $0.037700 $0.037700 — — Feb 23, 2010 $0.038000 $0.038000 — — Jan 26, 2010 $0.037800 $0.037800 — — Dec 28, 2009 $0.042600 $0.042600 — — Nov 24, 2009 $0.042900 $0.042900 — — Oct 27, 2009 $0.042800 $0.042800 — — Sep 25, 2009 $0.037900 $0.037900 — — Aug 26, 2009 $0.032900 $0.032900 — — Jul 28, 2009 $0.048100 $0.048100 — — Jun 25, 2009 $0.048100 $0.048100 — — May 26, 2009 $0.053100 $0.053100 — — Apr 27, 2009 $0.048200 $0.048200 — — Mar 26, 2009 $0.033200 $0.033200 — — Feb 24, 2009 $0.030800 $0.030800 — — Jan 27, 2009 $0.048100 $0.048100 — — Dec 26, 2008 $0.046700 $0.046700 — — Nov 24, 2008 $0.050800 $0.050800 — — Oct 28, 2008 $0.038100 $0.038100 — — Sep 25, 2008 $0.048000 $0.048000 — — Aug 26, 2008 $0.050400 $0.050400 — — Jul 28, 2008 $0.047900 $0.047900 — — Jun 25, 2008 $0.047900 $0.047900 — — May 27, 2008 $0.034300 $0.034300 — — Apr 25, 2008 $0.047800 $0.047800 — — Mar 26, 2008 $0.042800 $0.042800 — — Feb 26, 2008 $0.038000 $0.038000 — — Jan 28, 2008 $0.047800 $0.047800 — — Dec 26, 2007 $0.068100 $0.068100 — — Nov 27, 2007 $0.052800 $0.052800 — — Oct 26, 2007 $0.047800 $0.047800 — — Sep 25, 2007 $0.047900 $0.047900 — — Aug 28, 2007 $0.047800 $0.047800 — — Jul 26, 2007 $0.042800 $0.042800 — — Jun 26, 2007 $0.043000 $0.043000 — — May 25, 2007 $0.048800 $0.048800 — — Apr 25, 2007 $0.047900 $0.047900 — — Mar 27, 2007 $0.042800 $0.042800 — — Feb 23, 2007 $0.043000 $0.043000 — — Jan 26, 2007 $0.042600 $0.042600 — — Dec 26, 2006 $0.052800 $0.052800 — — Nov 27, 2006 $0.042900 $0.042900 — — Oct 26, 2006 $0.047800 $0.047800 — — Sep 26, 2006 $0.042900 $0.042900 — — Aug 28, 2006 $0.047800 $0.047800 — — Jul 26, 2006 $0.044000 $0.044000 — — Jun 27, 2006 $0.042900 $0.042900 — — May 25, 2006 $0.041900 $0.041900 — — Apr 25, 2006 $0.039900 $0.039900 — — Mar 28, 2006 $0.040800 $0.040800 — — Feb 23, 2006 $0.038000 $0.038000 — — Jan 26, 2006 $0.037800 $0.037800 — — Dec 27, 2005 $0.069000 $0.069000 — — Nov 25, 2005 $0.047900 $0.047900 — — Oct 26, 2005 $0.047800 $0.047800 — — Sep 27, 2005 $0.047800 $0.047800 — — Aug 26, 2005 $0.044300 $0.044300 — — Jul 26, 2005 $0.042800 $0.042800 — — Jun 27, 2005 $0.037800 $0.037800 — — May 25, 2005 $0.041800 $0.041800 — — Apr 26, 2005 $0.045200 $0.045200 — — Mar 28, 2005 $0.045000 $0.045000 — — Feb 23, 2005 $0.036000 $0.036000 — — Jan 26, 2005 $0.031000 $0.031000 — — Dec 28, 2004 $0.056000 $0.056000 — — Nov 24, 2004 $0.040000 $0.040000 — — Oct 26, 2004 $0.041000 $0.041000 — — Sep 27, 2004 $0.036000 $0.036000 — — Aug 26, 2004 $0.042000 $0.042000 — — Jul 27, 2004 $0.043000 $0.043000 — — Jun 25, 2004 $0.040000 $0.040000 — — May 25, 2004 $0.039000 $0.039000 — — Apr 27, 2004 $0.035000 $0.035000 — — Mar 30, 2004 $0.048300 $0.048300 — — Feb 26, 2004 $0.040200 $0.040200 — — Jan 29, 2004 $0.037200 $0.037200 — — Dec 19, 2003 $0.046300 $0.046300 — — Nov 26, 2003 $0.037500 $0.037500 — — Oct 30, 2003 $0.043200 $0.043200 — — Sep 29, 2003 $0.044900 $0.044900 — — Aug 28, 2003 $0.043600 $0.043600 — — Jul 30, 2003 $0.046100 $0.046100 — — Jun 27, 2003 $0.039800 $0.039800 — — May 29, 2003 $0.041100 $0.041100 — — Apr 29, 2003 $0.044700 $0.044700 — — Mar 28, 2003 $0.056000 $0.056000 — — Feb 27, 2003 $0.047300 $0.047300 — — Jan 30, 2003 $0.048500 $0.048500 — — Dec 20, 2002 $0.043100 $0.043100 — — Nov 27, 2002 $0.046700 $0.046700 — — Oct 30, 2002 $0.055800 $0.055800 — — Sep 27, 2002 $0.049400 $0.049400 — — Aug 29, 2002 $0.049300 $0.049300 — — Jul 30, 2002 $0.053800 $0.053800 — — Jun 27, 2002 $0.045200 $0.045200 — — May 30, 2002 $0.051900 $0.051900 — — Apr 29, 2002 $0.053200 $0.053200 — — Mar 27, 2002 $0.043100 $0.043100 — — Feb 27, 2002 $0.052600 $0.052600 — — Jan 30, 2002 $0.041400 $0.041400 — — Dec 20, 2001 $0.136700 $0.037600 $0.099100 — Nov 29, 2001 $0.043100 $0.043100 — — Oct 30, 2001 $0.047100 $0.047100 — — Sep 27, 2001 $0.041400 $0.041400 — — Aug 30, 2001 $0.044500 $0.044500 — — Jul 30, 2001 $0.047300 $0.047300 — — Jun 28, 2001 $0.042400 $0.042400 — — May 30, 2001 $0.053400 $0.053400 — — Apr 27, 2001 $0.045300 $0.045300 — — Mar 29, 2001 $0.048500 $0.048500 — — Feb 27, 2001 $0.045100 $0.045100 — — Jan 30, 2001 $0.052800 $0.052800 — — Dec 21, 2000 $0.051300 $0.051300 — — Nov 29, 2000 $0.049500 $0.049500 — — Oct 30, 2000 $0.051700 $0.051700 — — Sep 28, 2000 $0.046300 $0.046300 — — Aug 30, 2000 $0.058700 $0.058700 — — Jul 28, 2000 $0.049000 $0.049000 — — Jun 29, 2000 $0.053300 $0.053300 — — May 30, 2000 $0.055100 $0.055100 — — Apr 27, 2000 $0.046600 $0.046600 — — Mar 30, 2000 $0.054300 $0.054300 — — Feb 28, 2000 $0.053400 $0.053400 — — Jan 28, 2000 $0.044000 $0.044000 — — Dec 30, 1999 $0.055200 $0.055200 — — Nov 29, 1999 $0.051600 $0.051600 — — Oct 29, 1999 $0.047600 $0.047600 — — Sep 29, 1999 $0.053800 $0.053800 — — Aug 30, 1999 $0.052600 $0.052600 — — Jul 29, 1999 $0.040400 $0.040400 — — Jun 30, 1999 $0.075900 $0.050700 $0.025200 — May 28, 1999 $0.040400 $0.040400 — — Apr 30, 1999 $0.041000 $0.041000 — — Mar 31, 1999 $0.045000 $0.045000 — — Feb 26, 1999 $0.038000 $0.038000 — — Jan 29, 1999 $0.040000 $0.040000 — — Dec 31, 1998 $0.130000 $0.130000 — — Nov 30, 1998 $0.045000 $0.045000 — — Oct 30, 1998 $0.045000 $0.045000 — — Sep 30, 1998 $0.050000 $0.050000 — — Aug 31, 1998 $0.050000 $0.050000 — — Jul 31, 1998 $0.050000 $0.050000 — — Jun 30, 1998 $0.050000 $0.050000 — — May 29, 1998 $0.040000 $0.040000 — — Apr 30, 1998 $0.060000 $0.060000 — — Mar 31, 1998 $0.048000 $0.048000 — — Feb 27, 1998 $0.048000 $0.048000 — — Jan 30, 1998 $0.053000 $0.053000 — — Dec 31, 1997 $0.195000 $0.195000 — — Nov 28, 1997 $0.043000 $0.043000 — — Oct 31, 1997 $0.060000 $0.060000 — — Sep 30, 1997 $0.035000 $0.035000 — — Aug 29, 1997 $0.050000 $0.050000 — — Jul 31, 1997 $0.055000 $0.055000 — — Jun 30, 1997 $0.035000 $0.035000 — — May 30, 1997 $0.050000 $0.050000 — — Apr 30, 1997 $0.060000 $0.060000 — — Mar 31, 1997 $0.050000 $0.050000 — — Feb 28, 1997 $0.050000 $0.050000 — — Jan 31, 1997 $0.030000 $0.030000 — — From: To: 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. 0.45 0.16 0.20 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. 5.73 4.82 4.12 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. -0.07 0.09 0.30 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. 123.08 112.75 113.02 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. 112.50 107.86 106.49 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. 1.12 1.07 1.03 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. 85.31 84.89 78.28 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. 2.27 1.90 1.92 View All Characteristics & Stats All Characteristics & Stats GW&K Enhanced Core Bond ESG Fund (MFDAX) Portfolio Characteristics (Fixed Income) Risk & Return Effective Maturity Fund Holdings Fund Bloomberg US Aggregate Bond Index Fund Assets (Mil.$) $52 Number of Holdings 128 12583 Average Effective Duration (years) 6.35 6.44 Average Modified Duration (years) 6.82 Convexity 0.23 0.64 Average Maturity (years) 9.01 8.63 Yield to Maturity 4.43% 3.72% Yield to Worst 4.43% 3.72% Current Yield 3.98% 2.69% SEC 30-Day Yield (%) 3.04% SEC 30-Day Yield (%) w/o fee 2.79% Average Coupon 3.89% 2.49% Average Price 96.4 92.63 Average Credit Quality AA- AA1/AA2 Trailing 12-Months Portfolio Turnover 60.74% % Callable 42.43% % Non-US 3.22% Adjustable Coupon 4.76% Step Coupon 0.00% Zero Coupon 0.00% As of: 06/30/2022 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. 0.45 0.16 0.20 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. 5.73 4.82 4.12 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. -0.07 0.09 0.30 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. 123.08 112.75 113.02 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. 112.50 107.86 106.49 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. 1.12 1.07 1.03 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. 85.31 84.89 78.28 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. 2.27 1.90 1.92 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. 0.17 0.12 0.12 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. -0.36 0.39 1.22 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. -12.69 -12.69 -12.69 As of: 07/31/2022 Maturity Fund Less Than 2 Years 2.94% 2 to 5 Years 21.43% 5 to 10 Years 51.91% 10 to 15 Years 6.13% More Than 15 Years 17.58% NA 0.00% As of: 06/30/2022 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Fixed) As of: 06/30/2022 United States Treasury Note/Bond Fixed 4.10% United States Treasury Note/Bond Fixed 2.01% United States Treasury Note/Bond Fixed 1.91% Fannie Mae Pool AU6743 Fixed 1.88% United States Treasury Note/Bond Fixed 1.81% Fannie Mae Pool FM9679 Fixed 1.78% United States Treasury Note/Bond Fixed 1.76% State Of California Fixed 1.64% Fannie Mae Pool FM3229 Fixed 1.64% Freddie Mac Pool RA4919 Fixed 1.61% % in Top 10 Holdings 20.12% View Holding Details Holding Details GW&K Enhanced Core Bond ESG Fund (MFDAX) Top 10 Holdings (Fixed Income) All Holdings Fund Holdings Coupon Maturity % of Net Assets United States Treasury Note/Bond Fixed 6.75% Aug 2026 4.10% United States Treasury Note/Bond Fixed 2.25% May 2041 2.01% United States Treasury Note/Bond Fixed 1.88% Feb 2051 1.91% Fannie Mae Pool AU6743 Fixed 4% Oct 2043 1.88% United States Treasury Note/Bond Fixed 3.13% May 2048 1.81% Fannie Mae Pool FM9679 Fixed 4.5% Sep 2046 1.78% United States Treasury Note/Bond Fixed 3.5% Feb 2039 1.76% State Of California Fixed 7.55% Apr 2039 1.64% Fannie Mae Pool FM3229 Fixed 3.5% Feb 2047 1.64% Freddie Mac Pool RA4919 Fixed 3% Mar 2051 1.61% % in Top 10 Holdings 20.12% As of: 06/30/2022 Download All Holdings (PDF) As of: 06/30/2022 Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund United States Treasury Note/Bond Fixed 6.75% Aug 2026 U.S. Government B US USD 1,859,000 114 $2,122,673 4.10% United States Treasury Note/Bond Fixed 2.25% May 2041 U.S. Government B US USD 1,247,000 83 $1,040,563 2.01% United States Treasury Note/Bond Fixed 1.88% Feb 2051 U.S. Government B US USD 1,316,000 75 $987,154 1.91% Fannie Mae Pool AU6743 Fixed 4.00% Oct 2043 Mortgage-Backed Security B US USD 967,895 101 $972,841 1.88% United States Treasury Note/Bond Fixed 3.13% May 2048 U.S. Government B US USD 966,000 97 $934,869 1.81% Fannie Mae Pool FM9679 Fixed 4.50% Sep 2046 Mortgage-Backed Security B US USD 892,570 103 $921,127 1.78% United States Treasury Note/Bond Fixed 3.50% Feb 2039 U.S. Government B US USD 870,000 104 $908,844 1.76% State Of California Fixed 7.55% Apr 2039 Municipal Bond B US USD 625,000 136 $847,805 1.64% Fannie Mae Pool FM3229 Fixed 3.50% Feb 2047 Mortgage-Backed Security B US USD 862,167 98 $847,247 1.64% Freddie Mac Pool RA4919 Fixed 3.00% Mar 2051 Mortgage-Backed Security B US USD 889,614 93 $830,642 1.61% United States Treasury Note/Bond Fixed 1.63% Feb 2026 U.S. Government B US USD 796,000 95 $756,542 1.46% United States Treasury Note/Bond Fixed 5.00% May 2037 U.S. Government B US USD 608,000 124 $751,664 1.45% Fannie Mae Pool FS1125 Fixed 3.50% Jul 2050 Mortgage-Backed Security B US USD 757,705 98 $741,360 1.43% Fannie Mae Pool FM7323 Fixed 5.00% Jul 2047 Mortgage-Backed Security B US USD 617,633 105 $650,476 1.26% County Of Miami-Dade FL Aviation Revenue Fixed 4.28% Oct 2041 Municipal Bond B US USD 670,000 93 $625,215 1.21% Los Angeles Unified School District Fixed 5.75% Jul 2034 Municipal Bond B US USD 545,000 111 $605,459 1.17% Fannie Mae Pool FS0833 Fixed 3.00% Jun 2038 Mortgage-Backed Security B US USD 575,618 98 $565,369 1.09% United States Treasury Note/Bond Fixed 2.13% Sep 2024 U.S. Government B US USD 556,000 98 $545,640 1.05% Fannie Mae Pool FM5768 Fixed 4.00% Nov 2044 Mortgage-Backed Security B US USD 534,875 101 $540,938 1.05% Freddie Mac Pool Fixed 4.50% Oct 2041 Mortgage-Backed Security B US USD 524,300 103 $540,912 1.05% Wells Fargo & Co Floating Oct 2030 Corporate B US USD 600,000 88 $527,625 1.02% Charter Communications Operating LLC Fixed 4.91% Jul 2025 Corporate B US USD 516,000 100 $517,197 1.00% Morgan Stanley Floating Jan 2030 Corporate B US USD 530,000 97 $514,961 1.00% Merck & Co Inc Fixed 1.90% Dec 2028 Corporate B US USD 573,000 89 $509,217 0.98% United States Treasury Note/Bond Fixed 1.88% Feb 2032 U.S. Government B US USD 562,000 91 $509,137 0.98% Fannie Mae Pool CA2044 Fixed 4.50% Jul 2048 Mortgage-Backed Security B US USD 494,027 102 $504,442 0.97% OneMain Finance Corp Fixed 6.13% Mar 2024 Corporate B US USD 524,000 96 $500,420 0.97% American Express Co Floating Perpetual Corporate B US USD 610,000 81 $496,302 0.96% Fannie Mae Pool FM6355 Fixed 4.50% Aug 2050 Mortgage-Backed Security B US USD 485,964 102 $493,981 0.95% PulteGroup Inc Fixed 5.00% Jan 2027 Corporate B US USD 492,000 100 $491,952 0.95% Verizon Communications Inc Fixed 3.88% Feb 2029 Corporate B US USD 506,000 97 $489,549 0.95% Boston Properties LP Fixed 3.40% Jun 2029 Corporate B US USD 538,000 90 $482,236 0.93% Sonoco Products Co Fixed 2.85% Feb 2032 Corporate B US USD 576,000 83 $480,895 0.93% CommonSpirit Health Fixed 3.35% Oct 2029 Corporate B US USD 518,000 92 $478,132 0.92% Fiserv Inc Fixed 4.20% Oct 2028 Corporate B US USD 493,000 96 $474,982 0.92% CF Industries Inc Fixed 5.38% Mar 2044 Corporate B US USD 501,000 93 $466,992 0.90% Kraft Heinz Foods Co Fixed 4.25% Mar 2031 Corporate B US USD 491,000 95 $466,893 0.90% Broadcom Inc Fixed 1.95% Feb 2028 144A Corporate B US USD 548,000 85 $466,615 0.90% Fannie Mae Pool CA3664 Fixed 4.00% Jun 2049 Mortgage-Backed Security B US USD 463,019 100 $464,577 0.90% Sysco Corp Fixed 2.40% Feb 2030 Corporate B US USD 543,000 85 $463,073 0.89% Massachusetts School Building Authority Fixed 1.75% Aug 2030 Municipal Bond B US USD 523,000 86 $450,380 0.87% Fannie Mae Pool AS9588 Fixed 4.00% May 2047 Mortgage-Backed Security B US USD 440,673 100 $442,223 0.85% Fannie Mae Pool AL8818 Fixed 3.50% Feb 2045 Mortgage-Backed Security B US USD 447,582 98 $438,443 0.85% First-Citizens Bank & Trust Co Fixed 6.13% Mar 2028 Corporate B US USD 420,000 104 $437,626 0.85% Alcoa Nederland Holding BV Fixed 4.13% Mar 2029 144A Corporate B NL USD 480,000 89 $429,187 0.83% United States Treasury Note/Bond Fixed 2.88% May 2028 U.S. Government B US USD 430,000 99 $424,978 0.82% CVS Health Corp Fixed 5.13% Jul 2045 Corporate B US USD 437,000 96 $420,928 0.81% Ford Foundation Fixed 2.42% Jun 2050 Corporate B US USD 588,000 71 $419,252 0.81% Fannie Mae Pool FS0314 Fixed 3.00% Jun 2033 Mortgage-Backed Security B US USD 426,259 98 $418,663 0.81% AerCap Ireland Capital DAC Fixed 1.65% Oct 2024 Corporate B IE USD 450,000 92 $415,499 0.80% Fannie Mae Pool AS8683 Fixed 3.50% Jan 2047 Mortgage-Backed Security B US USD 422,487 98 $413,117 0.80% Bank of America Corp Floating Mar 2050 Corporate B US USD 458,000 90 $411,310 0.79% Fannie Mae Pool FM5891 Fixed 3.50% Jan 2048 Mortgage-Backed Security B US USD 412,968 99 $406,914 0.79% Microsoft Corp Fixed 2.52% Jun 2050 Corporate B US USD 551,000 74 $405,826 0.78% Fannie Mae Pool AB6802 Fixed 3.50% Nov 2042 Mortgage-Backed Security B US USD 406,775 98 $399,745 0.77% United States Treasury Note/Bond Fixed 2.50% Feb 2046 U.S. Government B US USD 468,000 85 $396,831 0.77% Travel + Leisure Co Fixed 5.65% Apr 2024 Corporate B US USD 392,000 98 $385,140 0.74% KB Home Fixed 4.80% Nov 2029 Corporate B US USD 441,000 83 $367,784 0.71% Crown Castle International Corp Fixed 4.30% Feb 2029 Corporate B US USD 378,000 96 $362,923 0.70% American Tower Corp Fixed 2.95% Jan 2051 Corporate B US USD 536,000 68 $362,917 0.70% Freddie Mac Pool QA8185 Fixed 3.00% Mar 2050 Mortgage-Backed Security B US USD 368,497 94 $347,158 0.67% University Of California Fixed 3.35% Jul 2029 Municipal Bond B US USD 360,000 96 $345,258 0.67% Ardagh Metal Packaging Finance USA LLC Fixed 3.25% Sep 2028 144A Corporate B US USD 400,000 85 $341,427 0.66% Korea Development Bank Fixed 0.50% Oct 2023 Foreign Government B KR USD 346,000 96 $333,603 0.64% Freddie Mac Gold Pool G60506 Fixed 3.50% Apr 2046 Mortgage-Backed Security B US USD 340,346 98 $333,107 0.64% National Rural Utilities Cooperative Finance Corp Fixed 1.35% Mar 2031 Corporate B US USD 427,000 78 $332,782 0.64% Fannie Mae Pool FM1577 Fixed 3.50% Sep 2034 Mortgage-Backed Security B US USD 327,003 100 $325,407 0.63% Fannie Mae Pool BM3362 Fixed 4.50% Jan 2044 Mortgage-Backed Security B US USD 312,214 103 $322,239 0.62% Walgreens Boots Alliance Inc Fixed 4.80% Nov 2044 Corporate B US USD 365,000 87 $319,237 0.62% Fannie Mae Pool BM5279 Fixed 4.00% Dec 2033 Mortgage-Backed Security B US USD 303,332 102 $308,251 0.60% Freddie Mac Pool ZT0542 Fixed 4.00% Jul 2048 Mortgage-Backed Security B US USD 269,610 100 $270,217 0.52% Fannie Mae Pool AS6831 Fixed 3.50% Mar 2046 Mortgage-Backed Security B US USD 275,826 98 $269,706 0.52% Fannie Mae Pool FM3734 Fixed 3.50% Sep 2049 Mortgage-Backed Security B US USD 269,678 98 $263,739 0.51% Comcast Corp Fixed 4.15% Oct 2028 Corporate B US USD 262,000 100 $261,273 0.50% Bank of New York Mellon Corp Floating Perpetual Corporate B US USD 266,000 98 $259,882 0.50% ArcelorMittal SA Fixed 4.25% Jul 2029 Corporate B LU USD 272,000 95 $258,222 0.50% Freeport-McMoRan Inc Fixed 4.63% Aug 2030 Corporate B US USD 272,000 93 $252,356 0.49% Goldman Sachs Group Inc Floating Perpetual Corporate B US USD 268,000 94 $251,998 0.49% Fannie Mae Pool FM3946 Fixed 4.00% Jan 2049 Mortgage-Backed Security B US USD 247,457 100 $247,976 0.48% Dell Inc Fixed 7.10% Apr 2028 Corporate B US USD 225,000 109 $244,693 0.47% Aramark Services Inc Fixed 5.00% Feb 2028 144A Corporate B US USD 270,000 91 $244,677 0.47% Ashtead Capital Inc Fixed 1.50% Aug 2026 144A Corporate B US USD 278,000 87 $242,756 0.47% Fannie Mae Pool FM9498 Fixed 4.50% May 2048 Mortgage-Backed Security B US USD 234,407 103 $241,570 0.47% Fannie Mae Pool FM4735 Fixed 3.00% Apr 2047 Mortgage-Backed Security B US USD 253,601 95 $240,281 0.46% Freddie Mac Gold Pool G60994 Fixed 3.50% Jan 2045 Mortgage-Backed Security B US USD 239,966 98 $236,036 0.46% Discovery Communications LLC Fixed 3.95% Mar 2028 Corporate B US USD 252,000 93 $235,231 0.45% SLM Corp Fixed 3.13% Nov 2026 Corporate B US USD 290,000 81 $234,163 0.45% Clearwater Paper Corp Fixed 4.75% Aug 2028 144A Corporate B US USD 270,000 86 $232,830 0.45% Anglo American Capital PLC Fixed 2.88% Mar 2031 144A Corporate B GB USD 277,000 83 $230,483 0.45% Cogent Communications Group Inc Fixed 3.50% May 2026 144A Corporate B US USD 250,000 92 $230,000 0.44% Starwood Property Trust Inc Fixed 5.50% Nov 2023 144A Corporate B US USD 231,000 99 $228,401 0.44% Centene Corp Fixed 2.50% Mar 2031 Corporate B US USD 286,000 79 $227,015 0.44% Newell Brands Inc Fixed 4.45% Apr 2026 Corporate B US USD 236,000 95 $224,793 0.43% California Health Facilities Financing Authority Fixed 4.19% Jun 2037 Municipal Bond B US USD 225,000 95 $214,034 0.41% AECOM Fixed 5.13% Mar 2027 Corporate B US USD 224,000 95 $211,680 0.41% United Rentals North America Inc Fixed 3.88% Feb 2031 Corporate B US USD 250,000 84 $210,897 0.41% SBA Communications Corp Fixed 3.88% Feb 2027 Corporate B US USD 225,000 91 $205,378 0.40% Howmet Aerospace Inc Fixed 5.90% Feb 2027 Corporate B US USD 206,000 99 $202,910 0.39% Murphy Oil USA Inc Fixed 5.63% May 2027 Corporate B US USD 205,000 98 $200,900 0.39% Fannie Mae Pool FM5575 Fixed 3.50% Jan 2036 Mortgage-Backed Security B US USD 200,657 100 $200,227 0.39% HCA Inc Fixed 3.50% Sep 2030 Corporate B US USD 235,000 85 $199,917 0.39% Hilton Domestic Operating Co Inc Fixed 4.88% Jan 2030 Corporate B US USD 220,000 90 $198,825 0.38% Crown Americas LLC Fixed 4.25% Sep 2026 Corporate B US USD 215,000 92 $198,338 0.38% Ball Corp Fixed 4.88% Mar 2026 Corporate B US USD 200,000 98 $196,750 0.38% Fannie Mae Pool FM5893 Fixed 5.00% Aug 2050 Mortgage-Backed Security B US USD 186,572 104 $193,523 0.37% Fannie Mae Pool CA2738 Fixed 3.50% Nov 2033 Mortgage-Backed Security B US USD 182,701 100 $182,791 0.35% Fannie Mae Pool CA8645 Fixed 4.00% Jan 2051 Mortgage-Backed Security B US USD 181,365 99 $179,731 0.35% Fannie Mae Pool FM4324 Fixed 3.50% Jul 2050 Mortgage-Backed Security B US USD 182,196 97 $176,845 0.34% Freddie Mac Gold Pool G15290 Fixed 3.50% Feb 2030 Mortgage-Backed Security B US USD 175,425 101 $176,446 0.34% Fannie Mae Pool CA6738 Fixed 3.00% Aug 2050 Mortgage-Backed Security B US USD 188,508 93 $176,134 0.34% Fannie Mae Pool CA3278 Fixed 3.50% Apr 2034 Mortgage-Backed Security B US USD 175,307 100 $175,233 0.34% Freddie Mac Pool RA3175 Fixed 3.00% Jul 2050 Mortgage-Backed Security B US USD 176,271 94 $165,017 0.32% Freddie Mac Gold Pool G15855 Fixed 3.50% Jan 2031 Mortgage-Backed Security B US USD 163,451 100 $163,779 0.32% Fannie Mae Pool CA3840 Fixed 4.50% Jul 2049 Mortgage-Backed Security B US USD 157,816 102 $161,049 0.31% Fannie Mae Pool FM3375 Fixed 3.50% Feb 2035 Mortgage-Backed Security B US USD 157,177 100 $157,110 0.30% Fannie Mae Pool AS8684 Fixed 3.50% Jan 2047 Mortgage-Backed Security B US USD 155,096 98 $151,656 0.29% Fannie Mae Pool 930920 Fixed 4.50% Apr 2039 Mortgage-Backed Security B US USD 142,699 103 $147,287 0.28% Freddie Mac Pool RA3586 Fixed 4.00% Sep 2050 Mortgage-Backed Security B US USD 142,512 99 $141,405 0.27% Fannie Mae Pool FM3783 Fixed 4.00% Mar 2050 Mortgage-Backed Security B US USD 132,469 100 $131,935 0.25% Block Financial LLC Fixed 3.88% Aug 2030 Corporate B US USD 142,000 90 $127,705 0.25% Fannie Mae Pool FM0036 Fixed 5.00% Aug 2049 Mortgage-Backed Security B US USD 115,212 104 $120,016 0.23% Coca-Cola Co Fixed 2.50% Jun 2040 Corporate B US USD 135,000 78 $105,621 0.20% Fannie Mae Pool FM1258 Fixed 4.00% Jul 2049 Mortgage-Backed Security B US USD 102,744 100 $102,740 0.20% MSCI Inc Fixed 3.25% Aug 2033 144A Corporate B US USD 118,000 80 $94,057 0.18% Fannie Mae Pool AL6729 Fixed 3.50% May 2044 Mortgage-Backed Security B US USD 90,432 98 $88,924 0.17% Fannie Mae Pool BM3751 Fixed 3.50% Feb 2033 Mortgage-Backed Security B US USD 69,088 100 $69,061 0.13% Murphy Oil USA Inc Fixed 4.75% Sep 2029 Corporate B US USD 60,000 90 $54,004 0.10% Freddie Mac Gold Pool G07849 Fixed 3.50% May 2044 Mortgage-Backed Security B US USD 49,645 98 $48,832 0.09% Cash & Equivalents Cash C US USD - - $2,533,627 4.90% Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Fixed) As of: 06/30/2022 View Allocation Details Allocation Details GW&K Enhanced Core Bond ESG Fund (MFDAX) Sector Allocation (Fixed Income) Credit Allocation Sector Sort Order Fund Bloomberg US Aggregate Bond Index U.S. Agency 10 0.00% 1.30% U.S. Treasury 20 18.12% 40.54% Sovereign Debt 30 0.64% 4.03% Corporate 60 37.31% 23.98% Investment Grade 70 29.11% 23.98% Non-Investment Grade & Not Rated 100 8.20% 0.00% Mortgage-Backed Security 130 33.06% 29.80% Asset-Backed Security 170 0.00% 0.35% Municipal Bond 180 5.97% 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 4.90% As of: 06/30/2022 Credit 06/30/2022 Treasury 19.06% Agency 34.76% AAA 2.59% AA 5.60% A 7.81% BBB 21.55% BB 8.12% B 0.50% CCC 0.00% CC 0.00% C 0.00% D 0.00% Not Rated 0.00% As of: 06/30/2022 Read Important Investment Disclosures Investment Approach Investment Approach GW&K Enhanced 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 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 Funds From GW&K Investment Management MBGVX GW&K 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 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 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 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 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