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Trending ETFs

BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged)

mutual fund
GLOBX
Payout Change
Suspended
Price as of:
$8.69 +0.01 +0.12%
primary theme
N/A
GLOBX (Mutual Fund)

BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged)

Payout Change
Suspended
Price as of:
$8.69 +0.01 +0.12%
primary theme
N/A
GLOBX (Mutual Fund)

BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged)

Payout Change
Suspended
Price as of:
$8.69 +0.01 +0.12%
primary theme
N/A

Name

As of 05/24/2024

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

Vitals

YTD Return

-3.2%

1 yr return

1.7%

3 Yr Avg Return

-2.7%

5 Yr Avg Return

1.4%

Net Assets

$26.6 M

Holdings in Top 10

53.6%

52 WEEK LOW AND HIGH

$8.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.14%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 68.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/24/2024

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

GLOBX - Profile

Distributions

  • YTD Total Return -3.2%
  • 3 Yr Annualized Total Return -2.7%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.03%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged)
  • Fund Family Name
    FRANKLIN TEMPLETON
  • Inception Date
    Mar 29, 2019
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Anujeet Sareen

Fund Description

Under normal market conditions, the fund will invest at least 80% of its net assets in fixed income securities of issuers located in developed market countries. Any country that, at the time of purchase, has a sovereign debt rating of A‑ or better from at least one nationally recognized statistical ratings organization (“NRSRO”) or is included in the FTSE World Government Bond Index will be considered a developed country. In addition, under normal market conditions, the fund will maintain at least 80% of its net assets in U.S. dollar currency exposure. The fund will invest in both investment grade and below investment grade fixed income securities, and intends to invest less than 35% of its net assets in below investment grade fixed income securities (commonly known as “high yield debt” or “junk bonds”). The portfolio managers intend to maintain an average weighted portfolio quality of A‑ or better, whether composed of rated securities or unrated securities deemed by the portfolio managers to be of comparable quality. The fund’s investments may include securities of sovereign governments and supranational organizations. The fund may invest up to 25% of its net assets in convertible debt securities.
The fund may purchase bonds issued in foreign currencies as well as U.S. dollar-denominated bonds. Under normal market conditions, the fund’s foreign currency exposure will be primarily hedged back to U.S. dollars through the use of currency forwards or other derivative contracts so that the fund’s portfolio will maintain at least 80% exposure to the U.S. dollar. While the fund will maintain at least 80% of its net assets in U.S. dollar currency exposure under normal market conditions, it may also invest in currency forwards or other derivative contracts to gain long or short exposure to foreign currencies in an effort to enhance returns.
The fund may invest in other derivative instruments, including bond futures, interest rate futures, swaps (including interest rate and total return swaps), credit default swaps (including buying and selling credit default swaps), and options. The fund may use these derivatives to enhance total return, to hedge against fluctuations in securities prices, interest rates or currency exchange rates, to change the effective duration of its portfolio, to manage certain investment risks and/or as a substitute for the purchase or sale of securities or currencies. These investments may be significant at times. Although the portfolio managers have the flexibility to use these instruments for hedging purposes (subject to the fund’s policy to maintain at
least 80% of its net assets in U.S. dollar currency exposure under normal market conditions) and to enhance total return, they may choose not to for a variety of reasons, even under very volatile market conditions. Derivative investments are taken into account when determining compliance with the fund’s 80% investment policies.
The fund will normally hold a portfolio of fixed income securities of issuers located in a minimum of six countries and, unless conditions are deemed to be unfavorable, will invest at least 30% of its assets in investments tied economically to countries outside of the United States.
Although the fund invests primarily in issuers in developed market countries as defined above, the fund may also invest in issuers in emerging market countries, and some of the countries that the fund considers to be developed may still have certain economic or other characteristics that are considered developing and are similar to emerging market countries.
The fund may invest in securities of any maturity. The weighted average effective duration of the fund’s portfolio, including derivatives, is expected to range from 1 to 10 years but for individual markets may be greater or lesser depending on the portfolio managers’ view of the prospects for lower interest rates and the potential for capital gains.
The fund is classified as “non‑diversified,” which means it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
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GLOBX - Performance

Return Ranking - Trailing

Period GLOBX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.2% -15.2% -2.4% 18.46%
1 Yr 1.7% -10.4% -2.5% 3.05%
3 Yr -2.7%* -1.2% 4.2% 0.85%
5 Yr 1.4%* -0.1% 3.7% N/A
10 Yr N/A* 0.0% 4.6% N/A

* Annualized

Return Ranking - Calendar

Period GLOBX Return Category Return Low Category Return High Rank in Category (%)
2023 1.4% -9.4% -0.6% 96.77%
2022 -10.0% -1.3% 7.0% 24.78%
2021 -8.0% 0.5% 200.9% N/A
2020 4.7% -15.5% 3.1% N/A
2019 N/A -0.6% 30.6% N/A

Total Return Ranking - Trailing

Period GLOBX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.2% -15.2% -2.4% 15.38%
1 Yr 1.7% -12.6% -2.5% 3.05%
3 Yr -2.7%* -1.6% 4.2% 0.85%
5 Yr 1.4%* -0.1% 3.7% N/A
10 Yr N/A* 0.0% 4.6% N/A

* Annualized

Total Return Ranking - Calendar

Period GLOBX Return Category Return Low Category Return High Rank in Category (%)
2023 6.6% -9.4% -0.6% 96.77%
2022 -10.0% -1.3% 7.0% 24.78%
2021 -2.0% 0.5% 200.9% N/A
2020 11.9% -15.5% 3.3% N/A
2019 N/A 0.1% 30.6% N/A

NAV & Total Return History


GLOBX - Holdings

Concentration Analysis

GLOBX Category Low Category High GLOBX % Rank
Net Assets 26.6 M 21.8 M 93.5 B 70.99%
Number of Holdings 75 5 7040 92.42%
Net Assets in Top 10 14.3 M -839 M 6.06 B 28.79%
Weighting of Top 10 53.65% 6.1% 100.0% 14.39%

Top 10 Holdings

  1. United States Treasury Note/Bond 11.77%
  2. United States Treasury Floating Rate Note 11.67%
  3. United Kingdom Gilt 5.10%
  4. United States Treasury Note/Bond 4.52%
  5. United States Treasury Note/Bond 4.40%
  6. Colombian TES 4.09%
  7. Ginnie Mae II Pool 3.16%
  8. Mexican Bonos 3.11%
  9. United States Treasury Note/Bond 2.94%
  10. Republic of South Africa Government Bond 2.88%

Asset Allocation

Weighting Return Low Return High GLOBX % Rank
Bonds
97.35% 36.86% 100.73% 30.30%
Convertible Bonds
4.95% 0.00% 14.16% 14.39%
Cash
3.49% -2.75% 67.17% 88.64%
Stocks
0.00% 0.00% 0.70% 1.52%
Preferred Stocks
0.00% 0.00% 0.73% 87.12%
Other
-0.84% -8.93% 0.72% 76.52%

Bond Sector Breakdown

Weighting Return Low Return High GLOBX % Rank
Government
47.34% 1.71% 97.31% 30.30%
Corporate
12.69% 0.00% 70.79% 71.97%
Cash & Equivalents
2.30% 0.00% 51.02% 81.82%
Securitized
0.31% 0.00% 29.11% 81.06%
Municipal
0.00% 0.00% 3.10% 90.15%
Derivative
-0.84% 0.00% 50.79% 28.03%

Bond Geographic Breakdown

Weighting Return Low Return High GLOBX % Rank
US
66.58% -11.86% 53.57% 8.33%
Non US
30.77% 26.05% 98.85% 83.33%

GLOBX - Expenses

Operational Fees

GLOBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.14% 0.02% 1.81% 60.16%
Management Fee 0.50% 0.00% 0.83% 59.85%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

GLOBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

GLOBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

GLOBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 68.00% 2.00% 402.00% 56.76%

GLOBX - Distributions

Dividend Yield Analysis

GLOBX Category Low Category High GLOBX % Rank
Dividend Yield 0.00% 0.00% 2.20% 28.03%

Dividend Distribution Analysis

GLOBX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Monthly

Net Income Ratio Analysis

GLOBX Category Low Category High GLOBX % Rank
Net Income Ratio 2.03% -0.30% 3.10% 7.63%

Capital Gain Distribution Analysis

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

Distributions History

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GLOBX - Fund Manager Analysis

Managers

Anujeet Sareen


Start Date

Tenure

Tenure Rank

Mar 25, 2019

3.19

3.2%

Anujeet Sareen is a portfolio manager for the Firm’s Global Fixed Income and related strategies. Prior to joining the Firm in 2016, Anujeet was a managing director of global fixed income and a global macro strategist, as well as chair of the Currency Strategy Group at Wellington Management in Boston. Over his 22-year career at Wellington (1994-2016), he held a variety of roles while cultivating extensive fixed income and currency management experience. Anujeet is a CFA® charterholder and earned a B.A. in Computer Science from Brown University.

Jack McIntyre


Start Date

Tenure

Tenure Rank

Mar 25, 2019

3.19

3.2%

John(Jack) P. McIntyre, CFA is Associate Portfolio Manager/Senior Research Analyst and is responsible for research and market insight. Mr. McIntyre has been employed at Brandywine Global since 1998. Previously, he held positions as market strategist with McCarthy, Crisanti & Maffei, Inc. (1995-1998); senior fixed income analyst with Technical Data (1992-1995); quantitative associate with Brown Brothers Harriman & Co. (1990), and investment analyst with the Public Employee Retirement Administration of Massachusetts (1987-1989).

David Hoffman


Start Date

Tenure

Tenure Rank

Mar 25, 2019

3.19

3.2%

David is co-lead portfolio manager for the Firm's Global Fixed Income and related strategies. He joined the Firm in 1995. Previously, David was president of Hoffman Capital, a global financial futures investment firm (1991-1995); head of fixed income investments at Columbus Circle Investors (1983-1990); senior vice president and portfolio manager at INA Capital Management (1979-1982), and fixed income portfolio manager at Provident National Bank (1975-1979).

Brian Kloss


Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Brian L. Kloss, JD, CPA, is a portfolio manager and head of high yield for Brandywine Global. Brian joined Brandywine Global in December 2009。Previously, Brian was co-portfolio manager at Dreman Value Management, LLC (2007-2009); high yield analyst/trader at Gartmore Global Investments (2002-2007); high yield and equity portfolio manager and general analyst at Penn Capital Management, Ltd. (2000-2002); an analyst with The Concord Advisory Group, Ltd. (1998-2000); and an international tax consultant with Deloitte & Touche LLP (1995-1998).

Tracy Chen


Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Tracy Chen, CFA®, CAIA is a portfolio manager and head of Structured Credit for Brandywine Global. She joined the firm in August 2008. Prior to joining Brandywine Global, she was with UBS Investment Bank as director of the fixed income valuation group (2006-2008), GMAC Mortgage Group as a mortgage pricing analyst (2003-2006), Deloitte Consulting as a senior corporate strategy consultant (2001-2003), and J&A Securities Ltd. in Shenzhen, China, as an international corporate finance associate (1995-1999).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.12 31.42 5.43 0.92