Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 12/09/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
7.7%
1 yr return
9.3%
3 Yr Avg Return
3.9%
5 Yr Avg Return
4.0%
Net Assets
$367 M
Holdings in Top 10
61.5%
Expense Ratio 0.58%
Front Load N/A
Deferred Load N/A
Turnover 96.00%
Redemption Fee N/A
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/09/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund seeks to achieve its investment objective through a flexible investment process that allocates investments across global fixed-income markets and uses various investment strategies. The Fund is not constrained in its management relative to a stock or bond market index.
Under normal circumstances, the Fund invests at least 80% of its net assets (including borrowings for investment purposes) in bonds and/or instruments (including derivative instruments) that provide exposure to bonds. Bonds include debt securities of any maturity.
The Fund may invest, without limitation, in below-investment grade, high-yield debt securities (commonly known as “junk bonds”), including distressed securities that are in default. The Fund, however, currently does not intend to invest more than 75% of its net assets in such securities. A debt security is considered below investment grade when assigned a credit quality rating below BBB- by S&P Global Ratings (“S&P”) or an equivalent rating by another nationally recognized statistical rating organization (“NRSRO”), including Moody’s Investors Service, Inc. or Fitch Ratings, or Kroll Bond Rating Agency, LLC for securitized debt instruments only (such as asset-backed securities (“ABS”) and mortgage-backed securities (“MBS”)), or if unrated, considered to be of comparable credit quality by the Fund’s investment adviser. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used.
The Fund’s investments may include, but are not limited to the following: bonds issued by U.S. corporations, the U.S. government or its agencies, and U.S. government-sponsored entities (e.g., the Federal National Mortgage Association (“FNMA”) and the Federal Home Loan Mortgage Corporation (“FHLMC”)); debt or debt-related securities issued by foreign governments and corporations; trust preferred securities; taxable municipal securities; ABS, including commercial mortgage-backed securities; collateralized mortgage obligations (“CMOs”); convertible bonds and other hybrid securities; investment companies, such as exchange-traded bond funds and closed-end bond funds; money market instruments; and loans.
Under normal circumstances, the average portfolio duration of the Fund will vary from negative three (-3) years to positive eight (8) years. Average portfolio duration will vary depending on the portfolio managers’ outlook on changing market, economic, and political conditions.
The Fund may invest up to 15% of its net assets in equity securities, including preferred and common stock. The Fund may also invest in foreign securities, and up to 50% of the Fund’s net assets may be invested in securities and instruments that are tied to emerging market countries. The Fund may purchase securities denominated in foreign currencies and U.S. dollar-denominated securities of foreign issuers (including depository receipts, such as American Depositary Receipts, which are either sponsored or unsponsored and Global Depositary Receipts, that evidence ownership in underlying foreign stocks).
The Fund may invest in derivative instruments, such as options, futures contracts (including index futures contracts), foreign forward currency exchange contracts or swap agreements (including credit default swaps). The use of these derivative transactions may allow the Fund to obtain net long or short exposures to select currencies, interest rates, countries, duration or credit risks. These derivatives may be used to seek to hedge against fluctuations in securities prices, interest rates, or currency exchange rates, enhance Fund returns, increase liquidity and/or gain exposure to certain instruments or markets (e.g., the corporate bond market) in a more efficient way. In addition, the Fund may invest
in “to-be-announced” securities, including when-issued, delayed delivery and forward commitment securities, may invest in restricted securities and may engage in short sales up to 20% of its net assets. The Fund may also lend its securities.
The Fund employs an “absolute return” investment approach. This means that the Fund benchmarks itself to an index of cash instruments, rather than a stock or bond market index, and seeks to achieve returns that exceed its benchmark and are largely independent of broad movements in stocks and bonds. The Fund’s benchmark is the ICE BofA 3-Month U.S. Treasury Bill Index.
Investment decisions for the Fund are made primarily on the basis of fundamental and quantitative research conducted by the investment adviser’s research staff and consideration of the responsible investment criteria described below. Management of the Fund involves consideration of numerous factors (such as quality of business franchises, financial strength, management quality and security structural and collateral considerations). The portfolio managers may also use sector rotation and relative value strategies in their management of the Fund. The portfolio managers may sell a security when the investment adviser’s valuation target is reached, the fundamentals of the investment change or to pursue more attractive investment options. A security will also be sold (in accordance with the investment adviser’s guidelines and at a time and in a manner that is determined to be in the best interests of shareholders) if the investment adviser determines that the issuer does not operate in a manner consistent with the Fund’s responsible investment criteria. The portfolio managers intend to focus on risk management and also seek to preserve capital to the extent consistent with the Fund’s investment objectives. The Fund intends to seek to manage investment risk by maintaining broad issuer and industry diversification among its holdings, and by utilizing fundamental analysis of risk/return characteristics in securities selection. The Fund manages duration and any hedging of interest rate risk through the purchase and sale of U.S. Treasury securities and related futures contracts (which are a type of derivative instrument).
Responsible Investing. The portfolio manager(s) seek to invest in companies that manage environmental, social and governance (“ESG”) risk exposures adequately and that are not exposed to excessive ESG risk through their principal business activities. Companies are analyzed by the investment adviser’s ESG analysts utilizing The Calvert Principles for Responsible Investment (“Principles”), a framework for considering ESG factors (a copy of which is included as an appendix to the Fund’s Prospectus). Each company is evaluated relative to an appropriate peer group based on material ESG factors as determined by the investment adviser. Pursuant to the Principles, the investment adviser seeks to identify companies and other issuers that operate in a manner that is consistent with or promotes environmental sustainability and resource efficiency, equitable societies and respect for human rights, and accountable governance and transparency. The Fund generally invests in issuers that are believed by the investment adviser to operate in accordance with the Principles and may also invest in issuers that the investment adviser believes are likely to operate in accordance with the Principles pending the investment adviser’s engagement activity with such issuer.
Period | CUBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.7% | -11.3% | 18.9% | 30.96% |
1 Yr | 9.3% | -9.7% | 20.6% | 43.96% |
3 Yr | 3.9%* | -16.9% | 16.9% | 13.33% |
5 Yr | 4.0%* | -14.7% | 13.4% | 14.46% |
10 Yr | N/A* | -7.0% | 7.1% | N/A |
* Annualized
Period | CUBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.0% | -12.0% | 8.9% | 45.13% |
2022 | -8.5% | -31.8% | 18.4% | 23.45% |
2021 | 0.3% | -16.2% | 25.7% | 19.51% |
2020 | 1.1% | -31.1% | 18.7% | 56.15% |
2019 | N/A | -6.1% | 15.3% | N/A |
Period | CUBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.7% | -11.3% | 18.9% | 30.96% |
1 Yr | 9.3% | -9.7% | 20.6% | 43.96% |
3 Yr | 3.9%* | -16.9% | 16.9% | 13.33% |
5 Yr | 4.0%* | -14.7% | 13.4% | 14.46% |
10 Yr | N/A* | -7.0% | 7.1% | N/A |
* Annualized
Period | CUBRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.7% | -6.9% | 22.2% | 36.17% |
2022 | -3.3% | -31.8% | 21.1% | 18.86% |
2021 | 4.2% | -13.5% | 49.9% | 17.05% |
2020 | 4.5% | -28.6% | 24.1% | 59.36% |
2019 | N/A | -4.8% | 19.1% | N/A |
CUBRX | Category Low | Category High | CUBRX % Rank | |
---|---|---|---|---|
Net Assets | 367 M | 2.63 M | 143 B | 59.55% |
Number of Holdings | 308 | 4 | 9638 | 64.59% |
Net Assets in Top 10 | 314 M | -204 M | 89.4 B | 40.41% |
Weighting of Top 10 | 61.50% | 5.8% | 265.8% | 19.34% |
Weighting | Return Low | Return High | CUBRX % Rank | |
---|---|---|---|---|
Bonds | 81.45% | 0.00% | 199.60% | 67.39% |
Cash | 29.38% | -94.66% | 99.97% | 4.68% |
Other | 12.80% | -75.22% | 147.15% | 25.27% |
Stocks | 2.64% | -6.18% | 99.68% | 29.33% |
Convertible Bonds | 1.64% | 0.00% | 33.50% | 43.75% |
Preferred Stocks | 0.27% | 0.00% | 21.58% | 27.46% |
Weighting | Return Low | Return High | CUBRX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | 58.54% |
Technology | 0.00% | 0.00% | 28.30% | 53.66% |
Real Estate | 0.00% | 0.00% | 100.00% | 59.87% |
Industrials | 0.00% | 0.00% | 100.00% | 66.08% |
Healthcare | 0.00% | 0.00% | 18.60% | 52.99% |
Financial Services | 0.00% | 0.00% | 100.00% | 71.84% |
Energy | 0.00% | 0.00% | 100.00% | 77.16% |
Communication Services | 0.00% | 0.00% | 100.00% | 0.89% |
Consumer Defense | 0.00% | 0.00% | 99.97% | 33.04% |
Consumer Cyclical | 0.00% | 0.00% | 89.95% | 59.42% |
Basic Materials | 0.00% | 0.00% | 100.00% | 54.10% |
Weighting | Return Low | Return High | CUBRX % Rank | |
---|---|---|---|---|
US | 2.64% | -6.18% | 99.68% | 28.86% |
Non US | 0.00% | -0.30% | 17.73% | 23.24% |
Weighting | Return Low | Return High | CUBRX % Rank | |
---|---|---|---|---|
Corporate | 39.99% | 0.00% | 96.66% | 43.64% |
Securitized | 39.50% | 0.00% | 99.65% | 22.54% |
Cash & Equivalents | 29.38% | 0.00% | 94.89% | 3.76% |
Government | 15.93% | 0.00% | 99.43% | 39.13% |
Derivative | 0.03% | -75.22% | 147.15% | 42.57% |
Municipal | 0.00% | 0.00% | 54.26% | 39.29% |
Weighting | Return Low | Return High | CUBRX % Rank | |
---|---|---|---|---|
US | 80.51% | 0.00% | 199.60% | 48.67% |
Non US | 0.94% | 0.00% | 74.14% | 57.41% |
CUBRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.58% | 0.03% | 34.13% | 93.31% |
Management Fee | 0.47% | 0.00% | 2.29% | 20.43% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.12% | 0.00% | 0.70% | 54.93% |
CUBRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.50% | N/A |
CUBRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 2.00% | N/A |
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.
CUBRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 96.00% | 0.00% | 632.00% | 63.40% |
CUBRX | Category Low | Category High | CUBRX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.32% | 0.00% | 23.30% | 35.86% |
CUBRX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | SemiAnnual | Monthly | Monthly |
CUBRX | Category Low | Category High | CUBRX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.49% | -1.55% | 11.51% | 66.09% |
CUBRX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 29, 2024 | $0.065 | OrdinaryDividend |
Oct 31, 2024 | $0.066 | OrdinaryDividend |
Sep 30, 2024 | $0.067 | OrdinaryDividend |
Aug 30, 2024 | $0.069 | OrdinaryDividend |
Jul 31, 2024 | $0.070 | OrdinaryDividend |
Apr 30, 2024 | $0.069 | OrdinaryDividend |
Mar 28, 2024 | $0.069 | OrdinaryDividend |
Feb 29, 2024 | $0.068 | OrdinaryDividend |
Jan 31, 2024 | $0.066 | OrdinaryDividend |
Dec 29, 2023 | $0.068 | OrdinaryDividend |
Oct 31, 2023 | $0.067 | OrdinaryDividend |
Sep 29, 2023 | $0.068 | OrdinaryDividend |
Aug 31, 2023 | $0.066 | OrdinaryDividend |
Jul 31, 2023 | $0.065 | OrdinaryDividend |
Jun 30, 2023 | $0.062 | OrdinaryDividend |
May 31, 2023 | $0.065 | OrdinaryDividend |
Apr 28, 2023 | $0.062 | OrdinaryDividend |
Mar 31, 2023 | $0.062 | OrdinaryDividend |
Feb 28, 2023 | $0.063 | OrdinaryDividend |
Jan 31, 2023 | $0.059 | OrdinaryDividend |
Dec 30, 2022 | $0.061 | OrdinaryDividend |
Dec 06, 2022 | $0.247 | OrdinaryDividend |
Nov 30, 2022 | $0.058 | OrdinaryDividend |
Oct 31, 2022 | $0.049 | OrdinaryDividend |
Sep 30, 2022 | $0.047 | OrdinaryDividend |
Aug 31, 2022 | $0.050 | OrdinaryDividend |
Jul 29, 2022 | $0.043 | OrdinaryDividend |
Jun 30, 2022 | $0.038 | OrdinaryDividend |
May 31, 2022 | $0.038 | OrdinaryDividend |
Apr 29, 2022 | $0.034 | OrdinaryDividend |
Mar 31, 2022 | $0.033 | OrdinaryDividend |
Feb 28, 2022 | $0.033 | OrdinaryDividend |
Jan 31, 2022 | $0.031 | OrdinaryDividend |
Dec 31, 2021 | $0.031 | OrdinaryDividend |
Dec 03, 2021 | $0.079 | CapitalGainShortTerm |
Dec 03, 2021 | $0.089 | CapitalGainLongTerm |
Nov 30, 2021 | $0.035 | OrdinaryDividend |
Oct 29, 2021 | $0.027 | OrdinaryDividend |
Sep 30, 2021 | $0.027 | OrdinaryDividend |
Aug 31, 2021 | $0.032 | OrdinaryDividend |
Jul 30, 2021 | $0.030 | OrdinaryDividend |
Jun 30, 2021 | $0.033 | OrdinaryDividend |
May 28, 2021 | $0.040 | OrdinaryDividend |
Apr 30, 2021 | $0.034 | OrdinaryDividend |
Mar 31, 2021 | $0.034 | OrdinaryDividend |
Feb 26, 2021 | $0.038 | OrdinaryDividend |
Jan 29, 2021 | $0.032 | OrdinaryDividend |
Dec 31, 2020 | $0.001 | ReturnOfCapital |
Dec 31, 2020 | $0.035 | OrdinaryDividend |
Nov 30, 2020 | $0.001 | ReturnOfCapital |
Nov 30, 2020 | $0.040 | OrdinaryDividend |
Oct 30, 2020 | $0.001 | ReturnOfCapital |
Oct 30, 2020 | $0.034 | OrdinaryDividend |
Sep 30, 2020 | $0.001 | ReturnOfCapital |
Sep 30, 2020 | $0.034 | OrdinaryDividend |
Aug 31, 2020 | $0.001 | ReturnOfCapital |
Aug 31, 2020 | $0.038 | OrdinaryDividend |
Jul 31, 2020 | $0.001 | ReturnOfCapital |
Jul 31, 2020 | $0.035 | OrdinaryDividend |
Jun 30, 2020 | $0.001 | ReturnOfCapital |
Jun 30, 2020 | $0.031 | OrdinaryDividend |
May 29, 2020 | $0.001 | ReturnOfCapital |
May 29, 2020 | $0.038 | OrdinaryDividend |
Apr 30, 2020 | $0.001 | ReturnOfCapital |
Apr 30, 2020 | $0.035 | OrdinaryDividend |
Mar 31, 2020 | $0.001 | ReturnOfCapital |
Mar 31, 2020 | $0.038 | OrdinaryDividend |
Feb 28, 2020 | $0.001 | ReturnOfCapital |
Feb 28, 2020 | $0.039 | OrdinaryDividend |
Jan 31, 2020 | $0.001 | ReturnOfCapital |
Jan 31, 2020 | $0.038 | OrdinaryDividend |
Dec 31, 2019 | $0.039 | OrdinaryDividend |
Nov 29, 2019 | $0.038 | OrdinaryDividend |
Oct 31, 2019 | $0.040 | OrdinaryDividend |
Sep 30, 2019 | $0.040 | OrdinaryDividend |
Aug 30, 2019 | $0.041 | OrdinaryDividend |
Jul 31, 2019 | $0.044 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Sep 30, 2014
7.67
7.7%
Vishal Khanduja is a vice president and portfolio manager for Calvert Research and Management, a wholly owned subsidiary of Eaton Vance Management specializing in responsible and sustainable investing across global capital markets. He joined Calvert Research and Management in 2016. Vishal began his career in the investment management industry in 2005. He has been affiliated with the Eaton Vance organization since 2016. Before joining the Eaton Vance organization, he was a senior vice president, portfolio manager and head of taxable fixed income for Calvert Investments. Previously, he was a vice president and portfolio manager at Columbia Threadneedle and associate director of fixed-income analytics at Galliard Capital. Vishal earned a bachelor of engineering from VJTI, Mumbai, India and an MBA from the Tippie School of Management at the University of Iowa. He is a member of the CFA Institute and the CFA Society of Boston. He is a CFA charterholder.
Start Date
Tenure
Tenure Rank
Sep 30, 2014
7.67
7.7%
Brian Ellis is a vice president and portfolio manager for Calvert Research and Management, a wholly owned subsidiary of Eaton Vance Management specializing in responsible and sustainable investing across global capital markets. He joined Calvert Research and Management in 2016. Brian began his career in the investment management industry in 2006. He has been affiliated with the Eaton Vance organization since 2016. Before joining the Eaton Vance organization, he was a portfolio manager of fixed-income strategies for Calvert Investments. Previously, he was a software engineer and analyst at Legg Mason Capital Management (now ClearBridge Investments). Brian earned a B.S. in finance from Salisbury University. He is a CFA charterholder and an FSA credential holder. He is a member of the CFA Institute and the CFA Society of Boston.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 28.19 | 5.71 | 3.19 |
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