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Avantis Core Fixed Income Fund
mutual fund
AVIGX
Payout Change
Pending
Price as of:
$8.41
+0.0
+0.0%
primary theme
U.S. Intermediate-Term Bond Duration
share class
AVIGX (Mutual Fund)
Avantis Core Fixed Income Fund
Payout Change
Pending
Price as of:
$8.41
+0.0
+0.0%
primary theme
U.S. Intermediate-Term Bond Duration
share class
AVIGX (Mutual Fund)
Avantis Core Fixed Income Fund
Payout Change
Pending
Price as of:
$8.41
+0.0
+0.0%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Name
As of 12/02/2024Price
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
Vitals
YTD Return
3.3%
1 yr return
6.0%
3 Yr Avg Return
-2.1%
5 Yr Avg Return
N/A
Net Assets
$58.7 M
Holdings in Top 10
18.1%
52 WEEK LOW AND HIGH
$8.4
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)
$5,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/02/2024Price
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
AVIGX - Profile
Distributions
- YTD Total Return 3.3%
- 3 Yr Annualized Total Return -2.1%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.26%
- Dividend Yield 4.6%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameAvantis Core Fixed Income Fund
-
Fund Family NameAmerican Century Investments
-
Inception DateFeb 24, 2021
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDaniel 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.
AVIGX - Performance
Return Ranking - Trailing
| Period | AVIGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.3% | -4.8% | 12.0% | 55.54% |
| 1 Yr | 6.0% | -2.8% | 14.8% | 66.84% |
| 3 Yr | -2.1%* | -10.6% | 28.2% | 55.91% |
| 5 Yr | N/A* | -7.3% | 58.9% | N/A |
| 10 Yr | N/A* | -2.8% | 74.0% | N/A |
* Annualized
Return Ranking - Calendar
| Period | AVIGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.0% | -16.2% | 8.1% | 52.70% |
| 2022 | -16.1% | -34.7% | 131.9% | 50.11% |
| 2021 | N/A | -11.6% | 4.4% | N/A |
| 2020 | N/A | -9.9% | 946.1% | N/A |
| 2019 | N/A | -1.7% | 16.9% | N/A |
Total Return Ranking - Trailing
| Period | AVIGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.3% | -4.8% | 12.0% | 55.54% |
| 1 Yr | 6.0% | -2.8% | 14.8% | 66.84% |
| 3 Yr | -2.1%* | -10.6% | 28.2% | 55.91% |
| 5 Yr | N/A* | -7.3% | 58.9% | N/A |
| 10 Yr | N/A* | -2.8% | 74.0% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | AVIGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.5% | -11.3% | 11.9% | 34.20% |
| 2022 | -13.8% | -32.2% | 131.9% | 57.13% |
| 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
AVIGX - Holdings
Concentration Analysis
| AVIGX | Category Low | Category High | AVIGX % Rank | |
|---|---|---|---|---|
| Net Assets | 58.7 M | 2.9 M | 314 B | 92.23% |
| Number of Holdings | 344 | 1 | 17880 | 75.70% |
| Net Assets in Top 10 | 11.6 M | 1.62 M | 35.1 B | 94.29% |
| Weighting of Top 10 | 18.07% | 4.7% | 3984.6% | 70.70% |
Top 10 Holdings
- United States Treasury Bill 0.00 09/05/2024 2.66%
- United States Treasury Note/Bond 1.38 11/15/2040 2.55%
- State Street Navigator Securities Lending Government Money Market Portfolio 2.13%
- United States Treasury Note/Bond 1.50 02/15/2025 1.97%
- FNCL 4 10/24 MBS 30yr 1.86%
- United States Treasury Bill 0.00 10/22/2024 1.55%
- G2SF 4 9/24 MBS 30yr 1.50%
- United States Treasury Bill 0.00 09/17/2024 1.33%
- United States Treasury Note/Bond 2.75 11/15/2042 1.28%
- FNCL 4 9/24 MBS 30yr 1.26%
Asset Allocation
| Weighting | Return Low | Return High | AVIGX % Rank | |
|---|---|---|---|---|
| Bonds | 118.24% | 0.00% | 9231.88% | 6.42% |
| Cash | 2.33% | -54.51% | 237.69% | 57.22% |
| Convertible Bonds | 0.17% | 0.00% | 7.93% | 86.61% |
| Other | 0.05% | -27.25% | 1695.17% | 77.05% |
| Stocks | 0.00% | 0.00% | 99.98% | 37.31% |
| Preferred Stocks | 0.00% | 0.00% | 72.34% | 30.53% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | AVIGX % Rank | |
|---|---|---|---|---|
| Corporate | 36.96% | 0.00% | 100.00% | 29.60% |
| Government | 22.13% | 0.00% | 86.23% | 57.22% |
| Securitized | 5.97% | 0.00% | 98.40% | 94.67% |
| Cash & Equivalents | 2.33% | 0.00% | 237.69% | 53.48% |
| Derivative | 0.05% | -6.56% | 44.82% | 33.13% |
| Municipal | 0.00% | 0.00% | 100.00% | 75.00% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | AVIGX % Rank | |
|---|---|---|---|---|
| US | 118.24% | 0.00% | 9042.62% | 6.44% |
| Non US | 0.00% | 0.00% | 189.26% | 40.29% |
AVIGX - Expenses
Operational Fees
| AVIGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.16% | 0.01% | 39.64% | 95.19% |
| Management Fee | 0.15% | 0.00% | 1.76% | 7.24% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| AVIGX 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% | 4.00% | N/A |
Trading Fees
| AVIGX 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.
| AVIGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 113.00% | 2.00% | 493.39% | 46.12% |
AVIGX - Distributions
Dividend Yield Analysis
| AVIGX | Category Low | Category High | AVIGX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.61% | 0.00% | 10.11% | 30.16% |
Dividend Distribution Analysis
| AVIGX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | SemiAnnual | Monthly | Quarterly |
Net Income Ratio Analysis
| AVIGX | Category Low | Category High | AVIGX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.26% | -1.28% | 4.79% | 77.44% |
Capital Gain Distribution Analysis
| AVIGX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 31, 2024 | $0.032 | OrdinaryDividend |
| Sep 30, 2024 | $0.030 | OrdinaryDividend |
| Aug 30, 2024 | $0.034 | OrdinaryDividend |
| Jul 31, 2024 | $0.032 | OrdinaryDividend |
| Apr 30, 2024 | $0.031 | OrdinaryDividend |
| Mar 28, 2024 | $0.031 | OrdinaryDividend |
| Feb 29, 2024 | $0.030 | OrdinaryDividend |
| Jan 31, 2024 | $0.030 | OrdinaryDividend |
| Dec 29, 2023 | $0.031 | OrdinaryDividend |
| Nov 30, 2023 | $0.030 | OrdinaryDividend |
| Oct 31, 2023 | $0.029 | OrdinaryDividend |
| Sep 29, 2023 | $0.029 | OrdinaryDividend |
| Aug 31, 2023 | $0.028 | OrdinaryDividend |
| Jul 31, 2023 | $0.026 | OrdinaryDividend |
| Jun 30, 2023 | $0.029 | OrdinaryDividend |
| May 31, 2023 | $0.027 | OrdinaryDividend |
| Apr 28, 2023 | $0.024 | OrdinaryDividend |
| Mar 31, 2023 | $0.028 | OrdinaryDividend |
| Feb 28, 2023 | $0.025 | OrdinaryDividend |
| Jan 31, 2023 | $0.023 | OrdinaryDividend |
| Dec 30, 2022 | $0.025 | OrdinaryDividend |
| Nov 30, 2022 | $0.023 | OrdinaryDividend |
| Oct 31, 2022 | $0.021 | OrdinaryDividend |
| Sep 30, 2022 | $0.023 | OrdinaryDividend |
| Aug 31, 2022 | $0.021 | OrdinaryDividend |
| Jul 29, 2022 | $0.019 | OrdinaryDividend |
| Jun 30, 2022 | $0.019 | OrdinaryDividend |
| May 31, 2022 | $0.019 | OrdinaryDividend |
| Apr 29, 2022 | $0.017 | OrdinaryDividend |
| Mar 31, 2022 | $0.014 | OrdinaryDividend |
| Feb 28, 2022 | $0.012 | OrdinaryDividend |
| Jan 31, 2022 | $0.010 | OrdinaryDividend |
| Dec 31, 2021 | $0.011 | OrdinaryDividend |
| Dec 07, 2021 | $0.013 | CapitalGainShortTerm |
| Nov 30, 2021 | $0.011 | OrdinaryDividend |
| Oct 29, 2021 | $0.011 | OrdinaryDividend |
| Sep 30, 2021 | $0.011 | OrdinaryDividend |
| Aug 31, 2021 | $0.011 | OrdinaryDividend |
| Aug 31, 2021 | $0.013 | CapitalGainShortTerm |
| Jul 31, 2021 | $0.011 | OrdinaryDividend |
| Jul 31, 2021 | $0.013 | CapitalGainShortTerm |
| Jun 30, 2021 | $0.011 | OrdinaryDividend |
| Jun 30, 2021 | $0.013 | CapitalGainShortTerm |
| May 31, 2021 | $0.011 | OrdinaryDividend |
| May 31, 2021 | $0.013 | CapitalGainShortTerm |
| Apr 30, 2021 | $0.011 | OrdinaryDividend |
| Apr 30, 2021 | $0.013 | CapitalGainShortTerm |
| Mar 31, 2021 | $0.010 | OrdinaryDividend |
| Mar 31, 2021 | $0.013 | CapitalGainShortTerm |
| Feb 28, 2021 | $0.002 | OrdinaryDividend |
| Feb 28, 2021 | $0.013 | CapitalGainShortTerm |
AVIGX - 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 | 6.77 | 1.16 |
