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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 12/12/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
2.5%
1 yr return
3.5%
3 Yr Avg Return
-1.4%
5 Yr Avg Return
N/A
Net Assets
$83.2 M
Holdings in Top 10
37.0%
Expense Ratio 0.68%
Front Load N/A
Deferred Load N/A
Turnover 16.00%
Redemption Fee N/A
Standard (Taxable)
$25,000,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/12/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Principal investments
Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes, if any) in bonds and/or instruments that provide exposure to bonds issued by development banks. Development banks are financial organizations formed by government entities to promote economic and social development. The Fund invests in multilateral development bank bonds but may also invest in regional or national development bank obligations. The Fund's investment in obligations issued by the International Bank for Reconstruction and Development and the Inter-American Development Bank may be significant, but the Fund normally will not invest more than 25% of its net assets in either issuer.
Under normal circumstances, the Fund will invest in securities that, at the time of purchase, possess a minimum rating of A3 by Moody's Investors Service, Inc. ("Moody's") or A- by Standard & Poor's Financial Services LLC ("S&P") or Fitch Ratings, Inc. ("Fitch"), comparably rated by another nationally recognized statistical rating organization, or, if unrated, are determined by the Advisor to be of comparable quality.
The Fund's investments in fixed income securities may have all types of interest rate payment and reset terms. The Fund generally invests only in US dollar-denominated securities.
The Fund may, but is not required to, engage in derivatives transactions. Derivatives instruments such as futures may be used for risk management purposes to hedge against a specific security or for investment (non-hedging) purposes to earn income or adjust portfolio duration. The Fund does not seek to use derivatives extensively.
The Fund may invest in exchange-traded funds ("ETFs") to gain exposure to certain asset classes.
The Fund is a non-diversified fund, which means that the Fund may invest more of its assets in a smaller number of issuers than a diversified investment company.
Management process
The Advisor seeks to invest in bonds issued by development banks. The Advisor constructs the portfolio consisting of multilateral and regional development banks. The Advisor focuses primarily on bonds issued by multilateral development banks which may include, but are not limited to, the International Bank for Reconstruction and Development and other member institutions of the World Bank Group, the Inter-American Development Bank, the Asian Development Bank, the African Development Bank, and the European Bank for Reconstruction and Development. Development banks are formed by their member states with the objective to provide financial and technical assistance to improve overall living standards through sustainable economic development and growth. While each development bank has a distinct focus, development banks generally use their capital for projects that seek to improve the state of the developing world, promote sustainable growth and raise living standards.
The Advisor selects investments for the Fund based on available supply and liquidity parameters (including, for example, such factors as evaluating amounts outstanding, available dealer inventory, and volumes traded in the secondary market) utilizing a stratified sampling approach (investing in a representative cross-section of the investment universe) to optimize tracking error and minimize transaction cost. The Fund will be managed relative to a composite index, which is a blend of two market indexes designed to measure the performance of the US dollar denominated multilateral development bank bond market. The Fund does not seek to directly replicate the index. The Fund's composite index is the Solactive Global Multilateral Development Bank Bond USD 40% 1-5 Year 60% 5-10 Year Total Return Index. (The Fund reserves the right in its discretion to change the index). The Fund's development bank bond investments may include issuers that are not part of the composite index. The Fund will seek to maintain a concentrated portfolio of development bank bonds emphasizing multilateral development banks. The portfolio management team will select the bonds in the market that meet their selection criteria with intention to provide similar risk/return characteristics as the broader development bank bond market.
The Fund may engage in active trading to adjust the portfolio in response to investor activity and to rebalance the portfolio as new development bank issuers come to the market and existing issuers enter the index or mature.
Period | UDBTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.5% | -15.2% | -2.4% | N/A |
1 Yr | 3.5% | -10.4% | -2.5% | 50.38% |
3 Yr | -1.4%* | -1.2% | 4.2% | 60.17% |
5 Yr | N/A* | -0.1% | 3.7% | N/A |
10 Yr | N/A* | 0.0% | 4.6% | N/A |
* Annualized
Period | UDBTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.3% | -9.4% | -0.6% | N/A |
2022 | -11.7% | -1.3% | 7.0% | N/A |
2021 | N/A | 0.5% | 200.9% | N/A |
2020 | N/A | -15.5% | 3.1% | N/A |
2019 | N/A | -0.6% | 30.6% | N/A |
Period | UDBTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.5% | -15.2% | -2.4% | N/A |
1 Yr | 3.5% | -12.6% | -2.5% | 43.51% |
3 Yr | -1.4%* | -1.6% | 4.2% | 53.39% |
5 Yr | N/A* | -0.1% | 3.7% | N/A |
10 Yr | N/A* | 0.0% | 4.6% | N/A |
* Annualized
Period | UDBTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.7% | -9.4% | -0.6% | N/A |
2022 | -10.4% | -1.3% | 7.0% | N/A |
2021 | N/A | 0.5% | 200.9% | N/A |
2020 | N/A | -15.5% | 3.3% | N/A |
2019 | N/A | 0.1% | 30.6% | N/A |
UDBTX | Category Low | Category High | UDBTX % Rank | |
---|---|---|---|---|
Net Assets | 83.2 M | 21.8 M | 93.5 B | 79.39% |
Number of Holdings | 69 | 5 | 7040 | 96.21% |
Net Assets in Top 10 | 30 M | -839 M | 6.06 B | 54.55% |
Weighting of Top 10 | 36.99% | 6.1% | 100.0% | 35.61% |
Weighting | Return Low | Return High | UDBTX % Rank | |
---|---|---|---|---|
Bonds | 98.34% | 36.86% | 100.73% | 13.64% |
Cash | 4.21% | -2.75% | 67.17% | 75.00% |
Stocks | 0.00% | 0.00% | 0.70% | 48.48% |
Preferred Stocks | 0.00% | 0.00% | 0.73% | 41.67% |
Other | 0.00% | -8.93% | 0.72% | 28.79% |
Convertible Bonds | 0.00% | 0.00% | 14.16% | 98.48% |
Weighting | Return Low | Return High | UDBTX % Rank | |
---|---|---|---|---|
Government | 97.77% | 1.71% | 97.31% | 0.76% |
Cash & Equivalents | 4.21% | 0.00% | 51.02% | 62.88% |
Derivative | 0.00% | 0.00% | 50.79% | 78.79% |
Securitized | 0.00% | 0.00% | 29.11% | 93.18% |
Corporate | 0.00% | 0.00% | 70.79% | 98.48% |
Municipal | 0.00% | 0.00% | 3.10% | 56.06% |
Weighting | Return Low | Return High | UDBTX % Rank | |
---|---|---|---|---|
US | 98.34% | -11.86% | 53.57% | 92.42% |
Non US | 0.00% | 26.05% | 98.85% | 2.27% |
UDBTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.68% | 0.02% | 1.81% | 90.63% |
Management Fee | 0.15% | 0.00% | 0.83% | 11.36% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.45% | 34.78% |
UDBTX 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 |
UDBTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
UDBTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 16.00% | 2.00% | 402.00% | 4.50% |
UDBTX | Category Low | Category High | UDBTX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.32% | 0.00% | 2.20% | 55.30% |
UDBTX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annually | Monthly | Monthly |
UDBTX | Category Low | Category High | UDBTX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.09% | -0.30% | 3.10% | 63.36% |
UDBTX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 21, 2024 | $0.026 | OrdinaryDividend |
Oct 23, 2024 | $0.028 | OrdinaryDividend |
Sep 19, 2024 | $0.023 | OrdinaryDividend |
Aug 22, 2024 | $0.023 | OrdinaryDividend |
Apr 22, 2024 | $0.022 | OrdinaryDividend |
Mar 21, 2024 | $0.021 | OrdinaryDividend |
Feb 21, 2024 | $0.022 | OrdinaryDividend |
Jan 23, 2024 | $0.021 | OrdinaryDividend |
Dec 21, 2023 | $0.021 | OrdinaryDividend |
Nov 20, 2023 | $0.020 | OrdinaryDividend |
Oct 23, 2023 | $0.020 | OrdinaryDividend |
Sep 21, 2023 | $0.019 | OrdinaryDividend |
Aug 22, 2023 | $0.020 | OrdinaryDividend |
Jul 20, 2023 | $0.018 | OrdinaryDividend |
Jun 22, 2023 | $0.018 | OrdinaryDividend |
May 22, 2023 | $0.017 | OrdinaryDividend |
Apr 20, 2023 | $0.017 | OrdinaryDividend |
Mar 22, 2023 | $0.016 | OrdinaryDividend |
Feb 21, 2023 | $0.016 | OrdinaryDividend |
Jan 23, 2023 | $0.015 | OrdinaryDividend |
Dec 21, 2022 | $0.026 | OrdinaryDividend |
Nov 17, 2022 | $0.014 | OrdinaryDividend |
Oct 20, 2022 | $0.013 | OrdinaryDividend |
Sep 22, 2022 | $0.012 | OrdinaryDividend |
Aug 18, 2022 | $0.012 | OrdinaryDividend |
Jul 21, 2022 | $0.012 | OrdinaryDividend |
Jun 22, 2022 | $0.011 | OrdinaryDividend |
May 19, 2022 | $0.011 | OrdinaryDividend |
Apr 21, 2022 | $0.011 | OrdinaryDividend |
Mar 22, 2022 | $0.010 | OrdinaryDividend |
Jan 20, 2022 | $0.009 | OrdinaryDividend |
Dec 22, 2021 | $0.009 | OrdinaryDividend |
Dec 22, 2021 | $0.014 | CapitalGainLongTerm |
Nov 19, 2021 | $0.009 | OrdinaryDividend |
Oct 21, 2021 | $0.009 | OrdinaryDividend |
Sep 22, 2021 | $0.009 | OrdinaryDividend |
Aug 20, 2021 | $0.009 | OrdinaryDividend |
Jul 22, 2021 | $0.009 | OrdinaryDividend |
Jun 22, 2021 | $0.010 | OrdinaryDividend |
May 20, 2021 | $0.009 | OrdinaryDividend |
Apr 22, 2021 | $0.010 | OrdinaryDividend |
Mar 23, 2021 | $0.008 | OrdinaryDividend |
Feb 18, 2021 | $0.010 | OrdinaryDividend |
Jan 21, 2021 | $0.009 | OrdinaryDividend |
Dec 21, 2020 | $0.015 | OrdinaryDividend |
Dec 21, 2020 | $0.136 | CapitalGainShortTerm |
Dec 21, 2020 | $0.137 | CapitalGainLongTerm |
Nov 19, 2020 | $0.012 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Aug 15, 2018
3.79
3.8%
Matthias Dettwiler is Head of Index Fixed Income and has overall responsibility for all index tracking fixed income portfolios globally. Mr. Dettwiler is a Managing Director at UBS Asset Management and has been with UBS since 1995 and joined fixed income portfolio management in 2000. Mr. Dettwiler has been the portfolio manager of the Fund since inception
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.12 | 31.42 | 5.43 | 0.92 |
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