Fund Overview Fund Overview Share Class N N I Z NAV | as of 12/05/2022 $9.06 -$0.07 (-0.77%) Morningstar | Style Box L M E H M L Overall Morningstar Rating Rated against 566 Intermediate Core-Plus Bond funds as of 10/31/2022 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 01/02/1997 to 11/30/2022 = $30,718.74 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 10/31/2022 Overall Rating (of 566) 3 Years (of 566) 5 Years (of 509) 10 Years (of 363) 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 Nov 28, 2022 $0.020500 $0.020500 — — Oct 27, 2022 $0.019900 $0.019900 — — Sep 28, 2022 $0.018500 $0.018500 — — Aug 29, 2022 $0.017400 $0.017400 — — 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: 11/30/2022 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. 0.77 0.18 -0.04 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. 6.85 5.77 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. -0.42 -0.14 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. 125.07 113.82 108.21 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. 109.75 107.75 105.96 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 1.08 1.05 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. 89.75 89.44 85.17 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. 2.31 1.92 1.80 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.$) $42 Number of Holdings 128 12667 Average Effective Duration (years) 6.39 6.2 Average Modified Duration (years) 6.64 Convexity 0.26 0.64 Average Maturity (years) 8.98 8.52 Yield to Maturity 5.48% 4.75% Yield to Worst 5.48% 4.75% Current Yield 4.17% 2.94% SEC 30-Day Yield (%) 3.70% SEC 30-Day Yield (%) w/o fee 3.39% Average Coupon 3.80% 2.58% Average Price 90.13 87.71 Average Credit Quality A+ AA1/AA2 Trailing 12-Months Portfolio Turnover 69.55% % Callable 48.21% % Non-US 3.24% Adjustable Coupon 5.28% Step Coupon 0.00% Zero Coupon 0.00% As of: 09/30/2022 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. 0.77 0.18 -0.04 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. 6.85 5.77 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. -0.42 -0.14 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. 125.07 113.82 108.21 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. 109.75 107.75 105.96 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 1.08 1.05 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. 89.75 89.44 85.17 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. 2.31 1.92 1.80 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 0.09 - 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. -2.53 -0.76 0.36 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. -17.94 -17.94 -17.94 As of: 11/30/2022 Maturity Fund Less Than 2 Years 2.15% 2 to 5 Years 21.77% 5 to 10 Years 51.12% 10 to 15 Years 8.36% More Than 15 Years 16.59% NA 0.00% As of: 09/30/2022 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Fixed) As of: 09/30/2022 Fannie Mae Pool AU6743 Fixed 2.10% Fannie Mae Pool FM9679 Fixed 1.99% United States Treasury Note/Bond Fixed 1.96% United States Treasury Note/Bond Fixed 1.89% Fannie Mae Pool FM3229 Fixed 1.82% United States Treasury Note/Bond Fixed 1.71% United States Treasury Note/Bond Fixed 1.71% Freddie Mac Pool RA4919 Fixed 1.71% Fannie Mae Pool FS1125 Fixed 1.59% State Of California Fixed 1.56% % in Top 10 Holdings 18.04% 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 Fannie Mae Pool AU6743 Fixed 4% Oct 2043 2.10% Fannie Mae Pool FM9679 Fixed 4.5% Sep 2046 1.99% United States Treasury Note/Bond Fixed 1.88% Feb 2051 1.96% United States Treasury Note/Bond Fixed 2.25% May 2041 1.89% Fannie Mae Pool FM3229 Fixed 3.5% Feb 2047 1.82% United States Treasury Note/Bond Fixed 3.5% Feb 2039 1.71% United States Treasury Note/Bond Fixed 3.13% May 2048 1.71% Freddie Mac Pool RA4919 Fixed 3% Mar 2051 1.71% Fannie Mae Pool FS1125 Fixed 3.5% Jul 2050 1.59% State Of California Fixed 7.55% Apr 2039 1.56% % in Top 10 Holdings 18.04% As of: 09/30/2022 Download All Holdings (PDF) As of: 10/31/2022 Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund United States Treasury Note/Bond Fixed 3.50% Feb 2039 U.S. Government B US USD 1,533,000 90.79 $1,391,796 3.42% Fannie Mae Pool AU6743 Fixed 4.00% Oct 2043 Mortgage-Backed Security B US USD 919,774 93.08 $856,082 2.10% Fannie Mae Pool FM9679 Fixed 4.50% Sep 2046 Mortgage-Backed Security B US USD 843,358 96.78 $816,176 2.00% United States Treasury Note/Bond Fixed 1.88% Feb 2051 U.S. Government B US USD 1,240,000 61.22 $759,161 1.86% United States Treasury Note/Bond Fixed 2.25% May 2041 U.S. Government B US USD 1,047,000 72.11 $754,944 1.85% Fannie Mae Pool FM3229 Fixed 3.50% Feb 2047 Mortgage-Backed Security B US USD 820,523 90.67 $743,994 1.83% Freddie Mac Pool RA4919 Fixed 3.00% Mar 2051 Mortgage-Backed Security B US USD 792,987 85.53 $678,270 1.66% United States Treasury Note/Bond Fixed 3.13% May 2048 U.S. Government B US USD 831,000 81.12 $674,116 1.65% Fannie Mae Pool FS1125 Fixed 3.50% Jul 2050 Mortgage-Backed Security B US USD 718,048 89.57 $643,157 1.58% State Of California Fixed 7.55% Apr 2039 Municipal Bond B US USD 525,000 119.72 $628,538 1.54% United States Treasury Note/Bond Fixed 6.75% Aug 2026 U.S. Government B US USD 574,000 108.19 $621,019 1.52% Fannie Mae Pool FM7323 Fixed 5.00% Jul 2047 Mortgage-Backed Security B US USD 581,115 100.10 $581,718 1.43% United States Treasury Note/Bond Fixed 5.00% May 2037 U.S. Government B US USD 533,000 108.65 $579,117 1.42% United States Treasury Note/Bond Fixed 1.63% Feb 2026 U.S. Government B US USD 593,000 91.47 $542,410 1.33% Fannie Mae Pool FS0833 Fixed 3.00% Jun 2038 Mortgage-Backed Security B US USD 540,384 91.46 $494,233 1.21% Freddie Mac Pool Fixed 4.50% Oct 2041 Mortgage-Backed Security B US USD 486,495 96.78 $470,816 1.16% Fannie Mae Pool FM5768 Fixed 4.00% Nov 2044 Mortgage-Backed Security B US USD 499,922 93.85 $469,177 1.15% Charter Communications Operating LLC Fixed 4.91% Jul 2025 Corporate B US USD 452,000 97.08 $438,812 1.08% Los Angeles Unified School District Fixed 5.75% Jul 2034 Municipal Bond B US USD 430,000 101.48 $436,372 1.07% Merck & Co Inc Fixed 1.90% Dec 2028 Corporate B US USD 509,000 83.80 $426,520 1.05% Morgan Stanley Floating Jan 2030 Corporate B US USD 465,000 91.25 $424,314 1.04% Dell Inc Fixed 7.10% Apr 2028 Corporate B US USD 409,000 103.50 $423,315 1.04% Ashtead Capital Inc Fixed 1.50% Aug 2026 144A Corporate B US USD 508,000 82.96 $421,431 1.03% Discovery Communications LLC Fixed 3.95% Mar 2028 Corporate B US USD 483,000 86.80 $419,232 1.03% County Of Miami-Dade FL Aviation Revenue Fixed 4.28% Oct 2041 Municipal Bond B US USD 495,000 84.42 $417,900 1.03% PulteGroup Inc Fixed 5.00% Jan 2027 Corporate B US USD 432,000 96.04 $414,891 1.02% Wells Fargo & Co Floating Oct 2030 Corporate B US USD 505,000 82.05 $414,334 1.02% American Express Co Floating Perpetual Corporate B US USD 530,000 77.13 $408,763 1.00% AerCap Ireland Capital DAC Fixed 1.65% Oct 2024 Corporate B IE USD 450,000 90.76 $408,436 1.00% Alcoa Nederland Holding BV Fixed 4.13% Mar 2029 144A Corporate B NL USD 480,000 84.68 $406,477 1.00% Verizon Communications Inc Fixed 3.88% Feb 2029 Corporate B US USD 444,000 90.89 $403,573 0.99% Fannie Mae Pool FM6355 Fixed 4.50% Aug 2050 Mortgage-Backed Security B US USD 420,476 94.85 $398,841 0.98% Fiserv Inc Fixed 4.20% Oct 2028 Corporate B US USD 423,000 92.50 $391,278 0.96% Boston Properties LP Fixed 3.40% Jun 2029 Corporate B US USD 473,000 82.68 $391,060 0.96% Sonoco Products Co Fixed 2.85% Feb 2032 Corporate B US USD 501,000 77.94 $390,464 0.96% Fannie Mae Pool AS9588 Fixed 4.00% May 2047 Mortgage-Backed Security B US USD 421,310 92.23 $388,593 0.95% CommonSpirit Health Fixed 3.35% Oct 2029 Corporate B US USD 458,000 83.92 $384,337 0.94% Kraft Heinz Foods Co Fixed 4.25% Mar 2031 Corporate B US USD 416,000 90.33 $375,775 0.92% Sysco Corp Fixed 2.40% Feb 2030 Corporate B US USD 463,000 80.91 $374,603 0.92% Fannie Mae Pool FS0314 Fixed 3.00% Jun 2033 Mortgage-Backed Security B US USD 399,564 91.59 $365,954 0.90% Massachusetts School Building Authority Fixed 1.75% Aug 2030 Municipal Bond B US USD 448,000 81.21 $363,814 0.89% Fannie Mae Pool AS8683 Fixed 3.50% Jan 2047 Mortgage-Backed Security B US USD 399,422 89.91 $359,125 0.88% Fannie Mae Pool FM5891 Fixed 3.50% Jan 2048 Mortgage-Backed Security B US USD 396,060 90.03 $356,581 0.88% Fannie Mae Pool AB6802 Fixed 3.50% Nov 2042 Mortgage-Backed Security B US USD 389,132 90.73 $353,060 0.87% First-Citizens Bank & Trust Co Fixed 6.13% Mar 2028 Corporate B US USD 355,000 98.76 $350,599 0.86% Travel + Leisure Co Fixed 5.65% Apr 2024 Corporate B US USD 342,000 98.36 $336,395 0.83% Korea Development Bank Fixed 0.50% Oct 2023 Foreign Government B KR USD 346,000 95.90 $331,824 0.81% Ardagh Metal Packaging Finance USA LLC Fixed 3.25% Sep 2028 144A Corporate B US USD 400,000 81.99 $327,962 0.80% Freddie Mac Pool QA8185 Fixed 3.00% Mar 2050 Mortgage-Backed Security B US USD 361,638 86.50 $312,819 0.77% Fannie Mae Pool CA3664 Fixed 4.00% Jun 2049 Mortgage-Backed Security B US USD 334,966 92.54 $309,984 0.76% Bank of America Corp Floating Mar 2050 Corporate B US USD 398,000 77.77 $309,538 0.76% Microsoft Corp Fixed 2.52% Jun 2050 Corporate B US USD 486,000 62.73 $304,881 0.75% Crown Castle Inc Fixed 4.30% Feb 2029 Corporate B US USD 325,000 90.87 $295,331 0.72% Ford Foundation Fixed 2.42% Jun 2050 Corporate B US USD 508,000 57.73 $293,266 0.72% Freddie Mac Gold Pool G60506 Fixed 3.50% Apr 2046 Mortgage-Backed Security B US USD 323,434 90.09 $291,392 0.72% Fannie Mae Pool FM1577 Fixed 3.50% Sep 2034 Mortgage-Backed Security B US USD 306,007 94.43 $288,967 0.71% Commonwealth of Massachusetts Fixed 4.11% Jul 2031 Municipal Bond B US USD 300,000 95.40 $286,212 0.70% Fannie Mae Pool BM3362 Fixed 4.50% Jan 2044 Mortgage-Backed Security B US USD 295,427 96.78 $285,910 0.70% Cogent Communications Group Inc Fixed 3.50% May 2026 144A Corporate B US USD 312,000 90.25 $281,580 0.69% United States Treasury Note/Bond Fixed 2.50% Feb 2046 U.S. Government B US USD 393,000 71.52 $281,056 0.69% National Rural Utilities Cooperative Finance Corp Fixed 1.35% Mar 2031 Corporate B US USD 377,000 71.88 $270,999 0.67% University Of California Fixed 3.35% Jul 2029 Municipal Bond B US USD 300,000 89.24 $267,711 0.66% Prime Security Services Borrower LLC Fixed 5.75% Apr 2026 144A Corporate B US USD 264,000 97.33 $256,964 0.63% Walgreens Boots Alliance Inc Fixed 4.80% Nov 2044 Corporate B US USD 325,000 78.43 $254,890 0.63% Crown Americas LLC Fixed 4.25% Sep 2026 Corporate B US USD 275,000 92.38 $254,045 0.62% Centene Corp Fixed 2.50% Mar 2031 Corporate B US USD 328,000 76.75 $251,740 0.62% Novelis Corp Fixed 3.25% Nov 2026 144A Corporate B US USD 285,000 87.52 $249,442 0.61% United States Treasury Note/Bond Fixed 1.88% Feb 2032 U.S. Government B US USD 297,000 83.16 $246,974 0.61% Freddie Mac Pool ZT0542 Fixed 4.00% Jul 2048 Mortgage-Backed Security B US USD 253,581 92.77 $235,258 0.58% Fannie Mae Pool FM3734 Fixed 3.50% Sep 2049 Mortgage-Backed Security B US USD 259,116 89.98 $233,165 0.57% Goldman Sachs Group Inc Floating Perpetual Corporate B US USD 243,000 93.97 $228,345 0.56% SLM Corp Fixed 3.13% Nov 2026 Corporate B US USD 260,000 87.71 $228,038 0.56% Fannie Mae Pool AS6831 Fixed 3.50% Mar 2046 Mortgage-Backed Security B US USD 253,215 89.98 $227,855 0.56% United States Treasury Note/Bond Fixed 2.13% Sep 2024 U.S. Government B US USD 236,000 95.63 $225,693 0.55% Aramark Services Inc Fixed 5.00% Feb 2028 144A Corporate B US USD 242,000 91.11 $220,487 0.54% Air Lease Corp Fixed 2.88% Jan 2026 Corporate B US USD 248,000 88.89 $220,458 0.54% Comcast Corp Fixed 4.15% Oct 2028 Corporate B US USD 234,000 93.81 $219,526 0.54% Fannie Mae Pool CA5687 Fixed 3.00% May 2050 Mortgage-Backed Security B US USD 251,831 86.50 $217,836 0.53% Fannie Mae Pool FM3946 Fixed 4.00% Jan 2049 Mortgage-Backed Security B US USD 234,361 92.93 $217,792 0.53% Fannie Mae Pool FM4735 Fixed 3.00% Apr 2047 Mortgage-Backed Security B US USD 247,077 87.04 $215,057 0.53% Fannie Mae Pool FM9498 Fixed 4.50% May 2048 Mortgage-Backed Security B US USD 222,045 96.64 $214,574 0.53% Anglo American Capital PLC Fixed 2.88% Mar 2031 144A Corporate B GB USD 277,000 76.86 $212,912 0.52% Bank of New York Mellon Corp Floating Perpetual Corporate B US USD 221,000 95.75 $211,608 0.52% Clearwater Paper Corp Fixed 4.75% Aug 2028 144A Corporate B US USD 242,000 87.28 $211,221 0.52% JPMorgan Chase & Co Floating Sep 2027 Corporate B US USD 250,000 84.01 $210,029 0.52% Freddie Mac Gold Pool G60994 Fixed 3.50% Jan 2045 Mortgage-Backed Security B US USD 231,101 90.82 $209,888 0.52% Starwood Property Trust Inc Fixed 5.50% Nov 2023 144A Corporate B US USD 211,000 98.73 $208,314 0.51% Ball Corp Fixed 2.88% Aug 2030 Corporate B US USD 268,000 77.66 $208,129 0.51% Newell Brands Inc Fixed 4.45% Apr 2026 Corporate B US USD 221,000 93.06 $205,652 0.50% Howmet Aerospace Inc Fixed 5.90% Feb 2027 Corporate B US USD 206,000 98.20 $202,296 0.50% Goldman Sachs Group Inc Fixed 3.50% Apr 2025 Corporate B US USD 211,000 94.75 $199,917 0.49% Hilton Domestic Operating Co Inc Fixed 4.88% Jan 2030 Corporate B US USD 220,000 89.63 $197,175 0.48% AECOM Fixed 5.13% Mar 2027 Corporate B US USD 204,000 94.68 $193,141 0.47% California Health Facilities Financing Authority Fixed 4.19% Jun 2037 Municipal Bond B US USD 225,000 84.29 $189,660 0.47% KB Home Fixed 4.80% Nov 2029 Corporate B US USD 231,000 81.63 $188,560 0.46% United Rentals North America Inc Fixed 3.88% Feb 2031 Corporate B US USD 225,000 82.90 $186,525 0.46% SBA Communications Corp Fixed 3.88% Feb 2027 Corporate B US USD 205,000 90.00 $184,500 0.45% WESCO Distribution Inc Fixed 7.25% Jun 2028 144A Corporate B US USD 175,000 101.45 $177,531 0.44% Tenet Healthcare Corp Fixed 4.88% Jan 2026 144A Corporate B US USD 185,000 94.50 $174,825 0.43% Fannie Mae Pool FM5575 Fixed 3.50% Jan 2036 Mortgage-Backed Security B US USD 185,160 94.17 $174,365 0.43% HCA Inc Fixed 3.50% Sep 2030 Corporate B US USD 207,000 82.84 $171,479 0.42% MSCI Inc Fixed 3.25% Aug 2033 144A Corporate B US USD 218,000 77.30 $168,525 0.41% Fannie Mae Pool FM5893 Fixed 5.00% Aug 2050 Mortgage-Backed Security B US USD 169,137 97.63 $165,130 0.41% Fannie Mae Pool CA8645 Fixed 4.00% Jan 2051 Mortgage-Backed Security B US USD 177,949 91.49 $162,799 0.40% Murphy Oil USA Inc Fixed 5.63% May 2027 Corporate B US USD 165,000 95.96 $158,339 0.39% Fannie Mae Pool CA3278 Fixed 3.50% Apr 2034 Mortgage-Backed Security B US USD 166,441 94.53 $157,342 0.39% Fannie Mae Pool FM4324 Fixed 3.50% Jul 2050 Mortgage-Backed Security B US USD 175,004 89.13 $155,988 0.38% Freeport-McMoRan Inc Fixed 4.63% Aug 2030 Corporate B US USD 176,000 88.41 $155,596 0.38% Freddie Mac Gold Pool G15290 Fixed 3.50% Feb 2030 Mortgage-Backed Security B US USD 158,620 96.50 $153,070 0.38% American Tower Corp Fixed 2.95% Jan 2051 Corporate B US USD 265,000 56.91 $150,816 0.37% Freddie Mac Pool RA3175 Fixed 3.00% Jul 2050 Mortgage-Backed Security B US USD 170,007 85.58 $145,500 0.36% Freddie Mac Gold Pool G15855 Fixed 3.50% Jan 2031 Mortgage-Backed Security B US USD 150,061 96.15 $144,289 0.35% Fannie Mae Pool FM3375 Fixed 3.50% Feb 2035 Mortgage-Backed Security B US USD 146,001 94.55 $138,051 0.34% Fannie Mae Pool CA3840 Fixed 4.50% Jul 2049 Mortgage-Backed Security B US USD 143,281 95.36 $136,640 0.34% Fannie Mae Pool AS8684 Fixed 3.50% Jan 2047 Mortgage-Backed Security B US USD 150,151 89.91 $135,002 0.33% Fannie Mae Pool 930920 Fixed 4.50% Apr 2039 Mortgage-Backed Security B US USD 135,337 96.65 $130,800 0.32% Freddie Mac Pool RA3586 Fixed 4.00% Sep 2050 Mortgage-Backed Security B US USD 134,806 91.65 $123,550 0.30% Block Financial LLC Fixed 3.88% Aug 2030 Corporate B US USD 142,000 83.99 $119,266 0.29% Fannie Mae Pool FM3783 Fixed 4.00% Mar 2050 Mortgage-Backed Security B US USD 123,765 91.97 $113,831 0.28% Fannie Mae Pool FM0036 Fixed 5.00% Aug 2049 Mortgage-Backed Security B US USD 106,579 98.10 $104,549 0.26% Fannie Mae Pool FM1258 Fixed 4.00% Jul 2049 Mortgage-Backed Security B US USD 97,293 92.37 $89,870 0.22% Fannie Mae Pool AL6729 Fixed 3.50% May 2044 Mortgage-Backed Security B US USD 84,914 90.70 $77,019 0.19% Coca-Cola Co Fixed 2.50% Jun 2040 Corporate B US USD 110,000 69.15 $76,062 0.19% Fannie Mae Pool BM3751 Fixed 3.50% Feb 2033 Mortgage-Backed Security B US USD 62,780 95.89 $60,200 0.15% Murphy Oil USA Inc Fixed 4.75% Sep 2029 Corporate B US USD 60,000 90.00 $54,000 0.13% Freddie Mac Gold Pool G07849 Fixed 3.50% May 2044 Mortgage-Backed Security B US USD 47,180 90.78 $42,829 0.11% Cash & Equivalents Cash C US USD - - $1,398,665 3.43% Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Fixed) As of: 09/30/2022 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% 1.27% U.S. Treasury 20 13.36% 40.96% Sovereign Debt 30 0.79% 4.01% Corporate 60 42.74% 23.86% Investment Grade 70 32.41% 23.86% Non-Investment Grade & Not Rated 100 10.33% 0.00% Mortgage-Backed Security 130 33.49% 29.50% Asset-Backed Security 170 0.00% 0.39% Municipal Bond 180 6.31% 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 3.31% As of: 09/30/2022 Credit 09/30/2022 Treasury 13.82% Agency 34.64% AAA 3.17% AA 5.96% A 7.56% BBB 24.17% BB 10.16% B 0.53% CCC 0.00% CC 0.00% C 0.00% D 0.00% Not Rated 0.00% As of: 09/30/2022 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 The global investment environment has fundamentally changed. Value has shifted to outperform Growth; will the trend continue? 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