Fund Overview

Fund Overview

Share Class

I

NAV | as of 08/11/2022

$22.30
-$0.11 (-0.49%)

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 04/01/2013 to 06/30/2022 = $12,381.86

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown.

Objective

The Fund seeks to generate income and capital appreciation by primarily investing in a diversified portfolio of fixed income securities.

Why Consider

  • Provides investors with exposure to 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

Mary F. Kane, CFA

PARTNER AND PORTFOLIO MANAGER

Stephen J. Repoff, CFA

PRINCIPAL, PORTFOLIO MANAGER

Performance

Performance

Read Important Investment Disclosures

Returns

Trailing Returns

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods less than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 0.48%
  • Net Expense Ratio: 0.48%
  • Expense Cap Expiration Date: N/A

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Jul 27, 2022 $0.043500 $0.043500
Jun 28, 2022 $0.039700 $0.039700
May 26, 2022 $0.042500 $0.042500
Apr 27, 2022 $0.035800 $0.035800
Mar 29, 2022 $0.038000 $0.038000
Feb 24, 2022 $0.034700 $0.034700
Jan 27, 2022 $0.035400 $0.035400
Dec 15, 2021 $0.615900 $0.040200 $0.575700
Nov 26, 2021 $0.036900 $0.036900
Oct 27, 2021 $0.038500 $0.038500
Sep 28, 2021 $0.037100 $0.037100
Aug 27, 2021 $0.038200 $0.038200
Jul 28, 2021 $0.037300 $0.037300
Jun 28, 2021 $0.034200 $0.034200
May 26, 2021 $0.035900 $0.035900
Apr 28, 2021 $0.023400 $0.023400
Mar 29, 2021 $1.864800 $0.064900 $1.799900
Feb 24, 2021 $0.062500 $0.062500
Jan 27, 2021 $0.077900 $0.077900
Dec 16, 2020 $0.131800 $0.064200 $0.067600
Nov 25, 2020 $0.074800 $0.074800
Oct 28, 2020 $0.084200 $0.084200
Sep 28, 2020 $0.081700 $0.081700
Aug 27, 2020 $0.080900 $0.080900
Jul 29, 2020 $0.086100 $0.086100
Jun 26, 2020 $0.084600 $0.084600
May 27, 2020 $0.084100 $0.084100
Apr 28, 2020 $0.074100 $0.074100
Mar 27, 2020 $0.076100 $0.076100
Feb 26, 2020 $0.070000 $0.070000
Jan 29, 2020 $0.078100 $0.078100
Dec 16, 2019 $0.245800 $0.082800 $0.163000
Nov 26, 2019 $0.083900 $0.083900
Oct 29, 2019 $0.074800 $0.074800
Sep 26, 2019 $0.078900 $0.078900
Aug 28, 2019 $0.080800 $0.080800
Jul 29, 2019 $0.083900 $0.083900
Jun 26, 2019 $0.084900 $0.084900
May 29, 2019 $0.088900 $0.088900
Apr 26, 2019 $0.111400 $0.111400
Mar 27, 2019 $0.103700 $0.103700
Feb 26, 2019 $0.072000 $0.072000
Jan 29, 2019 $0.083400 $0.083400
Dec 27, 2018 $0.264900 $0.074900 $0.000300 $0.189700
Nov 28, 2018 $0.074400 $0.074400
Oct 29, 2018 $0.071900 $0.071900
Sep 26, 2018 $0.062100 $0.062100
Aug 29, 2018 $0.067500 $0.067500
Jul 27, 2018 $0.069900 $0.069900
Jun 27, 2018 $0.070000 $0.070000
May 29, 2018 $0.072500 $0.072500
Apr 26, 2018 $0.070000 $0.070000
Mar 27, 2018 $0.067500 $0.067500
Feb 26, 2018 $0.062500 $0.062500
Jan 29, 2018 $0.066000 $0.066000
Dec 27, 2017 $0.289600 $0.133300 $0.023000 $0.133300
Nov 27, 2017 $0.065000 $0.065000
Oct 26, 2017 $0.055000 $0.055000
Sep 26, 2017 $0.075000 $0.075000
Aug 28, 2017 $0.072500 $0.072500
Jul 26, 2017 $0.072500 $0.072500
Jun 27, 2017 $0.070300 $0.070300
May 25, 2017 $0.063900 $0.063900
Apr 25, 2017 $0.066400 $0.066400
Mar 28, 2017 $0.068900 $0.068900
Feb 23, 2017 $0.074000 $0.074000
Jan 26, 2017 $0.081400 $0.081400
Dec 27, 2016 $0.449100 $0.107000 $0.052000 $0.290100
Nov 25, 2016 $0.083900 $0.083900
Oct 26, 2016 $0.091300 $0.091300
Sep 27, 2016 $0.087500 $0.087500
Aug 26, 2016 $0.080000 $0.080000
Jul 26, 2016 $0.080000 $0.080000
Jun 27, 2016 $0.087500 $0.087500
May 25, 2016 $0.087500 $0.087500
Apr 26, 2016 $0.080000 $0.080000
Mar 28, 2016 $0.075000 $0.075000
Feb 24, 2016 $0.065000 $0.065000
Jan 26, 2016 $0.059000 $0.059000
Dec 28, 2015 $0.470100 $0.090800 $0.022700 $0.356600
Nov 24, 2015 $0.070000 $0.070000
Oct 27, 2015 $0.070000 $0.070000
Sep 25, 2015 $0.059000 $0.059000
Aug 26, 2015 $0.059000 $0.059000
Jul 28, 2015 $0.057500 $0.057500
Jun 25, 2015 $0.028300 $0.028300
May 26, 2015 $0.057500 $0.057500
Apr 27, 2015 $0.064300 $0.064300
Mar 26, 2015 $0.059500 $0.059500
Feb 24, 2015 $0.057800 $0.057800
Jan 27, 2015 $0.066200 $0.066200
Dec 26, 2014 $0.284500 $0.105900 $0.178600
Nov 24, 2014 $0.062100 $0.062100
Oct 28, 2014 $0.060000 $0.060000
Sep 25, 2014 $0.062700 $0.062700
Aug 26, 2014 $0.066600 $0.066600
Jul 28, 2014 $0.071000 $0.071000
Jun 25, 2014 $0.067500 $0.067500
May 27, 2014 $0.073000 $0.073000
Apr 25, 2014 $0.076500 $0.076500
Mar 26, 2014 $0.077500 $0.077500
Feb 25, 2014 $0.075000 $0.075000
Jan 28, 2014 $0.079000 $0.079000
Dec 26, 2013 $0.092500 $0.092500
Nov 25, 2013 $0.090000 $0.090000
Oct 28, 2013 $0.077500 $0.077500
Sep 25, 2013 $0.082500 $0.082500
Aug 27, 2013 $0.075000 $0.075000
Jul 26, 2013 $0.065000 $0.065000
Jun 25, 2013 $0.070000 $0.070000
May 28, 2013 $0.087500 $0.087500
Apr 25, 2013 $0.070000 $0.070000

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.
0.49 0.31 -
Standard Deviation
Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance.
6.92 5.65 -
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.
-0.06 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.
138.05 115.68 -
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.
124.04 110.17 -
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 1.01 -
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.
57.73 54.87 -
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.
4.53 3.80 -
View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Fixed)

As of: 06/30/2022

United States Treasury Note/Bond Fixed 3.47%
Freddie Mac Pool SD8142 Fixed 2.93%
United States Treasury Note/Bond Fixed 2.22%
United States Treasury Note/Bond Fixed 2.22%
Fannie Mae Pool FM3375 Fixed 2.22%
Fannie Mae Pool MA3745 Fixed 2.13%
United States Treasury Note/Bond Fixed 2.05%
United States Treasury Note/Bond Fixed 2.00%
Fannie Mae Pool MA4305 Fixed 1.96%
Fannie Mae Pool FM3229 Fixed 1.95%
% in Top 10 Holdings 23.15%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Fixed)

As of: 06/30/2022

View Allocation Details

Investment Approach

Investment Approach

GW&K ESG Bond 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

GW&K ESG Bond Fund Introduction

Mary Kane and Stephen Repoff of GW&K Investment Management provide an overview of the firm's investment philosophy and the GW&K ESG Bond strategy.

View Webcast

About

Background

GW&K Investment Management is a dynamic investment management firm that offers asset allocation, active equity and fixed income investment solutions to help meet the needs of a diverse client base. GW&K’s founding principles of applying rigorous fundamental research, focusing on quality and maintaining a long-term view still guide its investment process today.

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Founded

1974


Headquarters

Boston, MA


Affiliate Since

2008

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