Fixed Income

BATAX

Allocation Target Shares: Series A Fund

Overview

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Performance

Performance

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Distributions

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  1y 3y 5y 10y Incept.
-0.59 2.40 3.40 - 4.40
Benchmark (%) -3.59 1.69 2.18 - 2.17
Morningstar Category Avg. (%) -4.10 0.91 1.33 - -
Morningstar Ranking 21/594 29/550 8/491 - -
Morningstar Quartile 1 1 1 - -
Lipper Ranking 16/143 8/129 2/109 - -
Lipper Quartile 1 1 1 - -
  YTD 1m 3m 1y 3y 5y 10y Incept.
-2.49 -1.32 -2.49 -0.59 7.38 18.21 - 32.44
Benchmark (%) -4.12 -2.12 -4.12 -3.59 5.15 11.36 - 15.03
Morningstar Category Avg. (%) -4.00 -1.09 -3.15 -4.10 2.76 6.82 - -
  2017 2018 2019 2020 2021
Total Return (%) 6.39 2.60 6.79 2.98 2.66
Benchmark (%) 2.71 1.38 6.63 5.72 -0.30
Morningstar Category Avg. (%) 1.73 0.92 4.72 3.81 0.05
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Key Facts

Key Facts

Size of Class (Millions) as of Jul 01, 2022 $2,539.6 M
Size of Fund (Millions) as of Jul 01, 2022 $2,539.6 M
Share Class launch date Sep 21, 2015
Asset Class Fixed Income
Morningstar Category Short-Term Bond
Lipper Classification US Mortgage Funds
Benchmark Index Securitized Non-Trust Custom Bench
CUSIP 092480706
Distribution Frequency Monthly
Number of Holdings as of May 31, 2022 1,266
Max Offer Price as of Jul 01, 2022 $9.37
Open to New Investors Yes
Turnover Percent in the Annual Report 45%

Sustainability Characteristics

Sustainability Characteristics

Sustainability Characteristics provide investors with specific non-traditional metrics. Alongside other metrics and information, these enable investors to evaluate funds on certain environmental, social and governance characteristics. Sustainability Characteristics do not provide an indication of current or future performance nor do they represent the potential risk and reward profile of a fund. They are provided for transparency and for information purposes only. Sustainability Characteristics should not be considered solely or in isolation, but instead are one type of information that investors may wish to consider when assessing a fund.


The metrics are not indicative of how or whether ESG factors will be integrated into a fund. Unless otherwise stated in fund documentation and included within a fund’s investment objective, the metrics do not change a fund’s investment objective or constrain the fund’s investable universe, and there is no indication that an ESG or Impact focused investment strategy or exclusionary screens will be adopted by a fund. For more information regarding a fund's investment strategy, please see the fund's prospectus.


Review the MSCI methodologies behind Sustainability Characteristics using the links below.

MSCI ESG Fund Rating (AAA-CCC) as of May 06, 2022 AA
MSCI ESG % Coverage as of May 06, 2022 83.61%
MSCI ESG Quality Score (0-10) as of May 06, 2022 7.6
MSCI ESG Quality Score - Peer Percentile as of May 06, 2022 47.81%
Fund Lipper Global Classification as of May 06, 2022 Bond USD Corporates
Funds in Peer Group as of May 06, 2022 274
MSCI Weighted Average Carbon Intensity (Tons CO2E/$M SALES) as of May 06, 2022 310.85
MSCI Weighted Average Carbon Intensity % Coverage as of May 06, 2022 81.49%
All data is from MSCI ESG Fund Ratings as of May 06, 2022, based on holdings as of Oct 31, 2021. As such, the fund’s sustainable characteristics may differ from MSCI ESG Fund Ratings from time to time.

To be included in MSCI ESG Fund Ratings, 65% of the fund’s gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a fund’s gross weight; the absolute values of short positions are included but treated as uncovered), the fund’s holdings date must be less than one year old, and the fund must have at least ten securities. For newly launched funds, Sustainability Characteristics are typically available 6 months after launch.

ESG Integration

ESG Integration

ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated in Fund documentation or included within the Fund’s investment objective, inclusion of this statement does not imply that the Fund has an ESG-aligned investment objective, but rather describes how ESG information is considered as part of the overall investment process.


Where applicable, the Fund manager includes ESG considerations in combination with other information in the research and due diligence stage of the investment process. ESG information may be sourced from both internal and external sources and included in the Aladdin risk system. The Fund manager conducts regular portfolio risk reviews with the Risk and Quantitative Analysis group. These reviews include discussion of the portfolio’s exposure to material ESG risks, as well as exposure to sustainability-related business involvements, climate-related metrics, and other factors.

Fees

Fees

as of current prospectus
Gross Expense Ratio 0.06%
Net Expense Ratio 0.02%

Net Expense Ratio excluding Investment Related Expenses is 0.00%

  • Acquired Fund Fees and Expenses 0.02%
  • Interest expense 0.00%

Ratings

Ratings

Morningstar Rating

4 stars
Overall Morningstar Rating for Allocation Target Shares: Series A Fund, Class, as of Jun 30, 2022 rated against 545 Short-Term Bond Funds based on risk adjusted total return.

Lipper Leader

 
 
 
 
 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of May 31, 2022 out of 128, 6,254, 128, 97 and 128 Funds, respectively in Lipper's US Mortgage Funds classification.

Portfolio Managers

Portfolio Managers

Samir Lakhani
Samir Lakhani
Ibrahim Incoglu
Ibrahim Incoglu
Portfolio Manager

Literature

Literature

 

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