Fund Overview

Share Class

Z

NAV | as of 06/13/2024

$8.92
+$0.04 (+0.45%)

Morningstar | Style Box

L M E H M L

Growth of $10,000 (Hypothetical)

Since Inception 05/08/2015 to 05/31/2024 = $10,881.43

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.
SEE ALL PERFORMANCE

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown.

Objective

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

Why Consider

  • Provides investors with exposure to primarily high-quality intermediate-term bonds
  • Invest in companies that GW&K believes are leaders in effectively addressing exposure to ESG risks through robust business practices, policies and programs or companies that have more limited exposure to ESG risks.
  • The Fund employs a multi-sector approach designed to take advantage of the relative valuations among distinct bond sectors, and provide greater opportunities to generate income and capital appreciation

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 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the Fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods shorter than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 0.59%
  • Net Expense Ratio: 0.48%
  • Expense Cap Expiration Date: 03/01/2025

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
May 29, 2024 $0.027000 $0.027000
Apr 26, 2024 $0.026300 $0.026300
Mar 26, 2024 $0.026100 $0.026100
Feb 27, 2024 $0.024000 $0.024000
Jan 29, 2024 $0.024100 $0.024100
Dec 14, 2023 $0.026300 $0.026300
Nov 28, 2023 $0.024700 $0.024700
Oct 27, 2023 $0.024300 $0.024300
Sep 27, 2023 $0.022800 $0.022800
Aug 29, 2023 $0.023200 $0.023200
Jul 27, 2023 $0.022500 $0.022500
Jun 28, 2023 $0.022000 $0.022000
May 26, 2023 $0.021800 $0.021800
Apr 26, 2023 $0.021000 $0.021000
Mar 29, 2023 $0.022100 $0.022100
Feb 24, 2023 $0.020000 $0.020000
Jan 27, 2023 $0.019900 $0.019900
Dec 15, 2022 $0.023200 $0.023200
Nov 28, 2022 $0.020000 $0.020000
Oct 27, 2022 $0.020100 $0.020100
Sep 28, 2022 $0.018600 $0.018600
Aug 29, 2022 $0.018500 $0.018500
Jul 27, 2022 $0.017500 $0.017500
Jun 28, 2022 $0.016400 $0.016400
May 26, 2022 $0.016100 $0.016100
Apr 27, 2022 $0.014200 $0.014200
Mar 29, 2022 $0.014000 $0.014000
Feb 24, 2022 $0.012200 $0.012200
Jan 27, 2022 $0.006400 $0.006400
Dec 15, 2021 $0.269900 $0.017100 $0.026200 $0.226600
Nov 26, 2021 $0.012600 $0.012600
Oct 27, 2021 $0.011700 $0.011700
Sep 28, 2021 $0.012400 $0.012400
Aug 27, 2021 $0.013000 $0.013000
Jul 28, 2021 $0.012800 $0.012800
Jun 28, 2021 $0.013400 $0.013400
May 26, 2021 $0.011700 $0.011700
Apr 28, 2021 $0.010800 $0.010800
Mar 29, 2021 $0.015100 $0.015100
Feb 24, 2021 $0.015100 $0.015100
Jan 27, 2021 $0.017000 $0.017000
Dec 16, 2020 $0.015600 $0.015600
Nov 25, 2020 $0.015800 $0.015800
Oct 28, 2020 $0.017000 $0.017000
Sep 28, 2020 $0.016600 $0.016600
Aug 27, 2020 $0.016200 $0.016200
Jul 29, 2020 $0.016600 $0.016600
Jun 26, 2020 $0.017200 $0.017200
May 27, 2020 $0.018500 $0.018500
Apr 28, 2020 $0.018600 $0.018600
Mar 27, 2020 $0.020100 $0.020100
Feb 26, 2020 $0.020800 $0.020800
Jan 29, 2020 $0.018600 $0.018600
Dec 16, 2019 $0.024700 $0.024700
Nov 26, 2019 $0.022500 $0.022500
Oct 29, 2019 $0.021500 $0.021500
Sep 26, 2019 $0.020500 $0.020500
Aug 28, 2019 $0.021300 $0.021300
Jul 29, 2019 $0.021500 $0.021500
Jun 26, 2019 $0.021400 $0.021400
May 29, 2019 $0.022500 $0.022500
Apr 26, 2019 $0.021000 $0.021000
Mar 27, 2019 $0.022000 $0.022000
Feb 26, 2019 $0.020500 $0.020500
Jan 29, 2019 $0.020200 $0.020200
Dec 27, 2018 $0.024700 $0.024700
Nov 28, 2018 $0.021400 $0.021400
Oct 29, 2018 $0.019500 $0.019500
Sep 26, 2018 $0.020200 $0.020200
Aug 29, 2018 $0.020200 $0.020200
Jul 27, 2018 $0.019000 $0.019000
Jun 27, 2018 $0.018700 $0.018700
May 29, 2018 $0.019500 $0.019500
Apr 26, 2018 $0.017300 $0.017300
Mar 27, 2018 $0.018500 $0.018500
Feb 26, 2018 $0.018500 $0.018500
Jan 29, 2018 $0.017000 $0.017000
Dec 27, 2017 $0.021000 $0.021000
Nov 27, 2017 $0.018000 $0.018000
Oct 26, 2017 $0.018000 $0.018000
Sep 26, 2017 $0.018000 $0.018000
Aug 28, 2017 $0.018000 $0.018000
Jul 26, 2017 $0.018000 $0.018000
Jun 27, 2017 $0.018000 $0.018000
May 25, 2017 $0.018000 $0.018000
Apr 25, 2017 $0.017500 $0.017500
Mar 28, 2017 $0.020000 $0.020000
Feb 23, 2017 $0.018000 $0.018000
Jan 26, 2017 $0.017000 $0.017000
Dec 27, 2016 $0.017800 $0.017800
Nov 25, 2016 $0.018000 $0.018000
Oct 26, 2016 $0.018000 $0.018000
Sep 27, 2016 $0.017500 $0.017500
Aug 26, 2016 $0.018000 $0.018000
Jul 26, 2016 $0.019000 $0.019000
Jun 27, 2016 $0.018000 $0.018000
May 25, 2016 $0.018000 $0.018000
Apr 26, 2016 $0.018000 $0.018000
Mar 28, 2016 $0.018000 $0.018000
Feb 24, 2016 $0.016000 $0.016000
Jan 26, 2016 $0.016000 $0.016000
Dec 28, 2015 $0.254800 $0.015700 $0.239100
Nov 24, 2015 $0.019000 $0.019000
Oct 27, 2015 $0.019000 $0.019000
Sep 25, 2015 $0.019000 $0.019000
Aug 26, 2015 $0.016000 $0.016000
Jul 28, 2015 $0.016000 $0.016000
Jun 25, 2015 $0.015000 $0.015000
May 26, 2015 $0.015000 $0.015000

Risk & Return Statistics

As of: 05/31/2024

3YR 5YR 10YR
Alpha
Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha.
-0.04 -0.03 -
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.
7.89 6.91 -
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.
-0.81 -0.35 -
Upside Capture Ratio (%)
Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets.
105.45 113.70 -
Downside Capture Ratio (%)
Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets.
104.99 109.23 -
Beta
Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk.
1.07 1.09 -
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.
99.24 95.27 -
Tracking Error (%)
Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero.
0.88 1.61 -
View All Characteristics & Statistics

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Fixed)

As of: 03/31/2024

United States Treasury Note/Bond Fixed 3.61%
United States Treasury Note/Bond Fixed 2.54%
Freddie Mac Pool ZS9495 Fixed 2.45%
State Of California Fixed 2.27%
Verizon Communications Inc Fixed 2.27%
Freddie Mac Multifamily Structured Pass Through Cert Floating 2.16%
Freddie Mac Pool SD3000 Fixed 2.10%
United States Treasury Note/Bond Fixed 2.08%
Freddie Mac Pool SD7507 Fixed 2.03%
Goldman Sachs Group Inc Fixed 1.95%
% in Top 10 Holdings 23.45%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Fixed)

As of: 03/31/2024

View Allocation Details

About the Affiliate

About GW&K Investment Management

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 About GW&K Investment Management's Approach

FOUNDED

1974

AMG AFFILIATE SINCE

2008

HEADQUARTERS

Boston, MA

Portfolio Managers

Investment Approach

Investment Approach

GW&K Core Bond ESG Fund

GW&K believes that a multi-sector approach takes advantage of the relative valuations among distinct bond sectors and provides greater opportunities to generate income and capital appreciation, while helping to manage risk in changing economic environments. The Fund invests in a diversified portfolio of fixed income securities. Typically, when deciding which securities to buy or sell, 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

Value has shifted to outperform growth; will the trend continue?

Read Full Perspective

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