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Aspiriant Risk-Managed Taxable Bond Fund
mutual fund
RMTBX
Payout Change
Pending
Price as of:
$8.66
+0.01
+0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
RMTBX (Mutual Fund)
Aspiriant Risk-Managed Taxable Bond Fund
Payout Change
Pending
Price as of:
$8.66
+0.01
+0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
RMTBX (Mutual Fund)
Aspiriant Risk-Managed Taxable Bond Fund
Payout Change
Pending
Price as of:
$8.66
+0.01
+0.12%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Name
As of 10/11/2024Price
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
4.5%
1 yr return
11.7%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
1.2%
Net Assets
$312 M
Holdings in Top 10
99.0%
52 WEEK LOW AND HIGH
$8.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.31%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 24.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
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
RMTBX - Profile
Distributions
- YTD Total Return 4.5%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 1.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.52%
- Dividend Yield 4.2%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameAspiriant Risk-Managed Taxable Bond Fund
-
Fund Family NameASPIRIANT
-
Inception DateMar 29, 2018
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Allen
Fund Description
The Taxable Bond Fund is a “fund-of-funds” that seeks to maximize long-term total return. The Fund invests primarily in Underlying Funds and may, to a limited extent, invest in SMAs, which are private portfolios of securities for individual accounts. To achieve its investment objective, under normal market conditions, the Fund invests through Underlying Funds and SMAs at least 80% of its net assets (plus the amount of borrowings for investment purposes) in bonds and other fixed income securities.
The Taxable Bond Fund intends to allocate its assets to Underlying Funds and SMAs that primarily invest in various types of bonds and other securities, typically government and agency bonds, corporate bonds, notes, mortgage-related and asset-backed securities, collateralized debt obligations, zero coupon bonds, bank loans, money market instruments, repurchase agreements, swaps, futures, options, credit default swaps, private placements and restricted securities. These investments may have interest rates that are fixed, variable or floating. The Underlying Funds and SMAs may invest in the U.S. and abroad, including international and emerging markets, and may purchase securities of any credit rating and varying maturities issued by domestic and foreign corporations, entities and governments.
In selecting Underlying Funds and SMAs, the Adviser will take asset diversification and potential volatility of return into account. The portfolio management team expects to actively evaluate each Underlying Fund and SMA based on its potential return, its risk level, and how it fits within the Fund’s overall portfolio in determining whether to buy or sell investments. The Adviser will also actively manage the Fund’s risks on an on-going basis to mitigate the risk of excessive losses by the portfolio overall.
The Underlying Funds consist of unaffiliated U.S. and foreign mutual funds, exchange-traded funds, and unaffiliated limited partnerships, including hedge funds. Because investments in unaffiliated limited partnerships, including hedge funds, may be illiquid, the Fund will not make any such investment if such investment would result in the Fund holding more than 15% of its net assets in illiquid investments.
RMTBX - Performance
Return Ranking - Trailing
| Period | RMTBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.5% | -2.7% | 11.7% | 13.98% |
| 1 Yr | 11.7% | -3.4% | 23.7% | 23.88% |
| 3 Yr | -0.3%* | -9.9% | 28.6% | 4.88% |
| 5 Yr | 1.2%* | -7.2% | 59.0% | 14.35% |
| 10 Yr | N/A* | -2.6% | 73.9% | N/A |
* Annualized
Return Ranking - Calendar
| Period | RMTBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.3% | -16.2% | 8.1% | 39.59% |
| 2022 | -15.4% | -34.7% | 131.9% | 32.42% |
| 2021 | -4.7% | -11.6% | 4.4% | 90.46% |
| 2020 | 1.1% | -10.1% | 946.1% | 93.65% |
| 2019 | 4.1% | -1.7% | 16.9% | 84.75% |
Total Return Ranking - Trailing
| Period | RMTBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.5% | -2.7% | 11.7% | 13.98% |
| 1 Yr | 11.7% | -3.4% | 23.7% | 23.88% |
| 3 Yr | -0.3%* | -9.9% | 28.6% | 4.88% |
| 5 Yr | 1.2%* | -7.2% | 59.0% | 14.35% |
| 10 Yr | N/A* | -2.6% | 73.9% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | RMTBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.8% | -11.3% | 11.9% | 6.46% |
| 2022 | -11.7% | -32.2% | 131.9% | 9.55% |
| 2021 | -0.6% | -9.4% | 9.2% | 33.88% |
| 2020 | 6.6% | -1.9% | 1009.0% | 84.58% |
| 2019 | 7.6% | 1.1% | 21668.0% | 79.43% |
NAV & Total Return History
RMTBX - Holdings
Concentration Analysis
| RMTBX | Category Low | Category High | RMTBX % Rank | |
|---|---|---|---|---|
| Net Assets | 312 M | 2.9 M | 314 B | 75.51% |
| Number of Holdings | 11 | 1 | 17787 | 98.26% |
| Net Assets in Top 10 | 287 M | 1.62 M | 36.1 B | 56.03% |
| Weighting of Top 10 | 98.99% | 4.4% | 432.9% | 2.26% |
Top 10 Holdings
- Vanguard Total Bond Market Index Fund 20.80%
- PIMCO Income Fund, Class Institutional 15.09%
- Metropolitan West Total Return Bond Fund 14.16%
- DoubleLine Total Return Bond Fund, Class I 14.15%
- JPMorgan Prime Money Market Fund, Institutional Class Shares 10.00%
- GMO Emerging Country Debt, Class VI 7.26%
- River Canyon Total Return Bond Fund, Class Institutional 7.08%
- Vanguard Long-Term Treasury ETF 5.03%
- AG Direct Lending Fund IV Annex, LP 3.31%
- AG Twin Brook Capital Income Fund 2.10%
Asset Allocation
| Weighting | Return Low | Return High | RMTBX % Rank | |
|---|---|---|---|---|
| Cash | 10.26% | -54.51% | 237.69% | 15.34% |
| Convertible Bonds | 1.43% | 0.00% | 7.93% | 50.88% |
| Stocks | 0.00% | 0.00% | 99.99% | 52.86% |
| Preferred Stocks | 0.00% | 0.00% | 71.02% | 47.14% |
| Other | 0.00% | -16.55% | 52.94% | 85.17% |
| Bonds | 0.00% | 0.00% | 993.61% | 98.78% |
RMTBX - Expenses
Operational Fees
| RMTBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.31% | 0.01% | 39.64% | 15.21% |
| Management Fee | 0.25% | 0.00% | 1.76% | 14.57% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.03% | 0.01% | 0.50% | 4.95% |
Sales Fees
| RMTBX 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
| RMTBX 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.
| RMTBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 24.00% | 2.00% | 493.39% | 4.89% |
RMTBX - Distributions
Dividend Yield Analysis
| RMTBX | Category Low | Category High | RMTBX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.16% | 0.00% | 10.11% | 4.80% |
Dividend Distribution Analysis
| RMTBX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | SemiAnnual | Monthly | SemiAnnual |
Net Income Ratio Analysis
| RMTBX | Category Low | Category High | RMTBX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.52% | -1.28% | 4.79% | 10.02% |
Capital Gain Distribution Analysis
| RMTBX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 27, 2024 | $0.090 | OrdinaryDividend |
| Jun 27, 2024 | $0.088 | OrdinaryDividend |
| Mar 28, 2024 | $0.083 | OrdinaryDividend |
| Dec 21, 2023 | $0.168 | OrdinaryDividend |
| Sep 28, 2023 | $0.105 | OrdinaryDividend |
| Jun 29, 2023 | $0.090 | OrdinaryDividend |
| Mar 30, 2023 | $0.080 | OrdinaryDividend |
| Dec 22, 2022 | $0.162 | OrdinaryDividend |
| Dec 22, 2022 | $0.004 | CapitalGainLongTerm |
| Sep 29, 2022 | $0.080 | OrdinaryDividend |
| Jun 29, 2022 | $0.065 | OrdinaryDividend |
| Mar 30, 2022 | $0.063 | OrdinaryDividend |
| Dec 30, 2021 | $0.242 | OrdinaryDividend |
| Sep 29, 2021 | $0.065 | OrdinaryDividend |
| Jun 29, 2021 | $0.063 | OrdinaryDividend |
| Mar 30, 2021 | $0.060 | OrdinaryDividend |
| Dec 30, 2020 | $0.273 | OrdinaryDividend |
| Dec 30, 2020 | $0.012 | CapitalGainShortTerm |
| Dec 30, 2020 | $0.062 | CapitalGainLongTerm |
| Sep 29, 2020 | $0.065 | OrdinaryDividend |
| Jun 29, 2020 | $0.070 | OrdinaryDividend |
| Mar 30, 2020 | $0.078 | OrdinaryDividend |
| Dec 30, 2019 | $0.111 | OrdinaryDividend |
| Sep 27, 2019 | $0.080 | OrdinaryDividend |
| Jun 27, 2019 | $0.078 | OrdinaryDividend |
| Mar 28, 2019 | $0.078 | OrdinaryDividend |
| Dec 28, 2018 | $0.097 | OrdinaryDividend |
| Jun 28, 2018 | $0.063 | OrdinaryDividend |
RMTBX - Fund Manager Analysis
Managers
John Allen
Start Date
Tenure
Tenure Rank
Mar 29, 2018
4.18
4.2%
John Allen, CFA, CAIA, is Chief Investment Officer (“CIO”) at Aspiriant, LLC. Mr. Allen joined Aspiriant, LLC as CIO in 2014. Prior to joining Aspiriant, LLC he was a senior member of the client service team at Grantham, Mayo, Van Otterloo (“GMO”) from 2009 to 2014. Prior to joining GMO, Mr. Allen was Head of Investments at a large family office. He began working in the financial services industry in the investment banking department at Donaldson, Lufkin & Jenrette and business consulting practice of Stern Stewart & Company.
Marc Castellani
Start Date
Tenure
Tenure Rank
Mar 29, 2018
4.18
4.2%
Marc Castellani, CFA, CAIA, CIMA, is Managing Director of Investment Strategy & Research at Aspiriant, LLC. Mr. Castellani joined Aspiriant, LLC in 2015. Prior to joining Aspiriant, LLC, he worked at J.P. Morgan Private Bank in Los Angeles from 2012 to 2015. Prior to joining J.P. Morgan Private Bank, he worked at U.S. Trust from 2010 to 2012. Previously, Mr. Castellani worked in Merger and Acquisitions of J.P. Morgan and Banc of America Securities. He began his career in the financial services industry as an Associate in the corporate finance advisory practice of Stern Stewart & Company.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.78 | 1.16 |
