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Trending ETFs

Avantis Core Fixed Income Fund

mutual fund
AVBNX
Payout Change
Pending
Price as of:
$8.25 -0.02 -0.24%
primary theme
U.S. Intermediate-Term Bond Duration
share class
AVBNX (Mutual Fund)

Avantis Core Fixed Income Fund

Payout Change
Pending
Price as of:
$8.25 -0.02 -0.24%
primary theme
U.S. Intermediate-Term Bond Duration
share class
AVBNX (Mutual Fund)

Avantis Core Fixed Income Fund

Payout Change
Pending
Price as of:
$8.25 -0.02 -0.24%
primary theme
U.S. Intermediate-Term Bond Duration
share class

Name

As of 05/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.25

$58.7 M

4.64%

$0.38

0.16%

Vitals

YTD Return

-1.0%

1 yr return

3.0%

3 Yr Avg Return

-3.0%

5 Yr Avg Return

N/A

Net Assets

$58.7 M

Holdings in Top 10

16.2%

52 WEEK LOW AND HIGH

$8.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.16%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 113.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.25

$58.7 M

4.64%

$0.38

0.16%

AVBNX - Profile

Distributions

  • YTD Total Return -1.0%
  • 3 Yr Annualized Total Return -3.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.41%
DIVIDENDS
  • Dividend Yield 4.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Avantis Core Fixed Income Fund
  • Fund Family Name
    American Century Investments
  • Inception Date
    Feb 24, 2021
  • Shares Outstanding
    N/A
  • Share Class
    G
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel Ong

Fund Description

The fund invests primarily in investment grade quality debt obligations from a diverse group of U.S. and non-U.S. issuers.
The fund’s investment process uses an analytical framework, which includes an assessment of securities’ expected income and capital appreciation, to seek securities with high expected returns. The portfolio managers categorize securities within the fund’s investment universe into component groups based on factors such as industry sector, credit rating, duration, country, and currency. The portfolio managers then calculate the expected return implied by the yield curve of each component group, while considering valuation metrics such as yield, duration, and option adjusted spreads. Finally, the portfolio managers adjust the portfolio to arrive at position weightings for each component group with the goal of building a portfolio with enhanced expected return.
Under normal market conditions, the fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities. Fixed income securities in which the fund may invest include corporate bonds and notes issued by U.S. and foreign corporations, securities issued by governments and their agencies, instrumentalities, or sponsored corporations—including supranational organizations. The fund may also invest in derivative instruments such as futures contracts or swap agreements, including credit default swaps, credit default swap indexes, and total return swaps.
The fund will invest primarily in investment grade securities as rated by an independent rating agency or determined by the advisor to be of comparable credit quality if a rating is unavailable. The fund expects to maintain a weighted average duration within 2 years of the weighted average duration of its benchmark, the Bloomberg U.S. Aggregate Bond index, as calculated by the manager. Duration is used to assess the sensitivity of a security’s price to changes in interest rates.
The fund may engage in foreign currency transactions on a spot basis and may also use currency forward contracts to hedge exposure to foreign currencies. The fund may purchase or sell when-issued, forward-settling, delayed delivery or forward commitment obligations. The fund may invest more than 25% of its total assets in U.S. Treasury, federal agencies and instrumentalities obligations.
The fund may also engage in securities lending. Collateral received by the fund in connection with loaning its securities may consist of cash and U.S. government securities. Cash collateral may be invested in eligible securities, such as a government money market fund.
The portfolio managers continually analyze market and financial data to make buy, sell, and hold decisions. When buying or selling a security, the portfolio managers may consider the trade-off between expected returns of the security and implementation or tax costs of the trade in an attempt to gain trading efficiencies, avoid unnecessary risk, and enhance fund performance.
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AVBNX - Performance

Return Ranking - Trailing

Period AVBNX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -7.7% 6.2% 47.59%
1 Yr 3.0% -8.0% 14.8% 36.95%
3 Yr -3.0%* -10.8% 25.8% 44.23%
5 Yr N/A* -7.0% 191.2% N/A
10 Yr N/A* -2.6% 73.5% N/A

* Annualized

Return Ranking - Calendar

Period AVBNX Return Category Return Low Category Return High Rank in Category (%)
2023 2.2% -16.2% 8.1% 46.98%
2022 -16.1% -34.7% 131.9% 50.26%
2021 N/A -11.6% 4.4% N/A
2020 N/A -10.1% 946.1% N/A
2019 N/A -1.7% 16.9% N/A

Total Return Ranking - Trailing

Period AVBNX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.0% -7.7% 6.2% 47.59%
1 Yr 3.0% -8.0% 14.8% 36.95%
3 Yr -3.0%* -10.8% 25.8% 44.23%
5 Yr N/A* -7.0% 191.2% N/A
10 Yr N/A* -2.6% 73.5% N/A

* Annualized

Total Return Ranking - Calendar

Period AVBNX Return Category Return Low Category Return High Rank in Category (%)
2023 6.8% -11.3% 11.0% 24.04%
2022 -13.6% -32.2% 131.9% 52.31%
2021 N/A -9.4% 9.2% N/A
2020 N/A -1.9% 1009.0% N/A
2019 N/A 1.1% 21668.0% N/A

NAV & Total Return History


AVBNX - Holdings

Concentration Analysis

AVBNX Category Low Category High AVBNX % Rank
Net Assets 58.7 M 2.9 M 314 B 91.97%
Number of Holdings 383 1 17889 72.74%
Net Assets in Top 10 10.4 M -106 M 34.8 B 95.77%
Weighting of Top 10 16.25% 4.4% 134.1% 77.43%

Top 10 Holdings

  1. FNCL 5 3/24 MBS 30yr 2.05%
  2. FNCL 4 4/24 MBS 30yr 1.73%
  3. G2SF 5.5 3/24 MBS 30yr 1.71%
  4. FNCL 3 3/24 MBS 30yr 1.61%
  5. United States Treasury Bill 0.00 03/12/2024 1.56%
  6. United States Treasury Bill 0.00 03/28/2024 1.56%
  7. United States Treasury Bill 0.00 04/02/2024 1.56%
  8. United States Treasury Bill 0.00 05/30/2024 1.54%
  9. United States Treasury Note/Bond 2.88 05/15/2043 1.48%
  10. G2SF 5 3/24 MBS 30yr 1.45%

Asset Allocation

Weighting Return Low Return High AVBNX % Rank
Bonds
118.42% 0.00% 215.98% 6.02%
Cash
1.54% -54.51% 87.74% 70.82%
Convertible Bonds
0.17% 0.00% 7.93% 85.93%
Other
0.04% -13.23% 50.66% 79.58%
Stocks
0.00% 0.00% 99.83% 96.99%
Preferred Stocks
0.00% 0.00% 74.68% 95.98%

Bond Sector Breakdown

Weighting Return Low Return High AVBNX % Rank
Corporate
36.96% 0.00% 100.00% 30.06%
Government
22.13% 0.00% 86.23% 56.28%
Securitized
5.97% 0.00% 98.40% 94.84%
Cash & Equivalents
1.54% 0.00% 83.04% 66.40%
Derivative
0.04% -9.72% 50.66% 51.51%
Municipal
0.00% 0.00% 100.00% 98.58%

Bond Geographic Breakdown

Weighting Return Low Return High AVBNX % Rank
US
118.42% 0.00% 215.98% 5.13%
Non US
0.00% 0.00% 33.48% 96.68%

AVBNX - Expenses

Operational Fees

AVBNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.16% 0.01% 39.10% 95.54%
Management Fee 0.15% 0.00% 1.00% 7.52%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

AVBNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

AVBNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AVBNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 113.00% 2.00% 493.39% 45.97%

AVBNX - Distributions

Dividend Yield Analysis

AVBNX Category Low Category High AVBNX % Rank
Dividend Yield 4.64% 0.00% 10.11% 22.59%

Dividend Distribution Analysis

AVBNX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

AVBNX Category Low Category High AVBNX % Rank
Net Income Ratio 1.41% -1.28% 4.79% 69.28%

Capital Gain Distribution Analysis

AVBNX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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AVBNX - Fund Manager Analysis

Managers

Daniel Ong


Start Date

Tenure

Tenure Rank

Feb 24, 2021

1.26

1.3%

Daniel is a senior portfolio manager at Avantis Investors®. Before coming to Avantis, he was a senior portfolio manager and vice president at DFA for 14 years. His responsibilities included managing international developed and emerging markets equity strategies, leading the EM equity desk, and engaging with clients. Prior to that, he was an account manager at Metropolitan West Asset Mgt. and a structure analyst at PIMCO. Daniel holds the CFA designation. He earned a bachelor's degree in economics from the Univ. of Cal and master's in finance & accounting from the Univ of Chicago Booth School

Mitchell Handa


Start Date

Tenure

Tenure Rank

Feb 24, 2021

1.26

1.3%

Vice President, PIMCO. Mr. Handa is a portfolio manager for the quantitative portfolio group, focusing on PIMCO's ETFs and index replication and smart passive strategies. Prior to joining PIMCO in 2012, he was a portfolio manager and a trader for Blackrock's model-based U.S. rates products in San Francisco. Mr. Handa started his career as an options trader on the interest-rate derivatives desk at ABN Amro in Chicago and also traded global fixed income and currencies for Barclays Global Investors Japan. He has investment and financial services experience since 1998 and holds a master's degree in physics from the University of California, Los Angeles and a master's degree in financial mathematics from the University of Chicago. He earned his undergraduate degree from the City University of New York.

Hozef Arif


Start Date

Tenure

Tenure Rank

Feb 24, 2021

1.26

1.3%

Mr. Arif, Senior Portfolio Manager, joined Avantis Investors in 2020 Mr. Arif is an executive vice president and credit portfolio manager in the Newport Beach office. Prior to joining PIMCO in 2008, he was a leveraged finance investment banker at Credit Suisse in Los Angeles. He holds an MBA from the University of Chicago Graduate School of Business. He also has a master's degree in petroleum engineering from Stanford University and an undergraduate degree from the Indian Institute of Technology, Mumbai.

Eduardo Repetto


Start Date

Tenure

Tenure Rank

Feb 24, 2021

1.26

1.3%

As Chief Investment Officer of Avantis Investors®, Eduardo is responsible for directing the research, design and implementation of investment strategies, providing oversight of the investment team, and interacting with clients. Prior to Avantis Investors' establishment in 2019, Eduardo was Co-Chief Executive Officer, Co-Chief Investment Officer and Director at Dimensional Fund Advisors LP ("DFA") until 2017. Dr. Repetto earned a Ph.D. degree in Aeronautics from the California Institute of Technology, an MSc degree in Engineering from Brown University,

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.8 1.16