Fixed Income

GNMA 529 Option

Overview

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Performance

Performance

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.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

Performance chart data not available for display.
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Distributions

This fund does not have any distributions.

Key Facts

Key Facts

Size of Class (Millions) as of Aug 14, 2020 $0.1 M
Size of Fund (Millions) as of Aug 14, 2020 $9.2 M
Share Class launch date Jul 15, 2019
Asset Class Fixed Income
Benchmark Index BBG Barc Fixed-Rate GNMA MBS Index
CUSIP 19452P172
Max Offer Price $13.63
Open to New Investors Yes
Expenses as of current program description

Portfolio Characteristics

Portfolio Characteristics

R-Squared (3y) as of Jul 31, 2020 0.00
Beta (3y) as of Jul 31, 2020 0.00
Nominal WAL as of Jul 31, 2020 4.71 yrs
Fund Standard Deviation (3y) as of Jul 31, 2020 0.00
This information must be preceded or accompanied by a current program description. For standardized performance, please see the Performance section above.

Ratings

Holdings

Holdings

as of Jul 31, 2020
Name Weight (%)
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION II 87.50
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION I 22.52
FEDERAL NATIONAL MORTGAGE ASSOCIATION 6.21
GNMA_15-187-C 1.92
GNMA_15-55-A 1.74
Name Weight (%)
GNMA_15-103-B 1.11
FEDERAL HOME LOAN MORTGAGE CORPORATION -GOLD 0.75
GNMA_15-79-MY 0.65
FNMA_18-32-PS 0.58
FHLMC_4325-ZX 0.52
The portfolio holds a mutual fund and/or an ETF. Top holdings from the underlying vehicles are listed above for greater visibility

Exposure Breakdowns

Exposure Breakdowns

as of Jul 31, 2020

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2020

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2020

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2020

% of Market Value

Type Fund Benchmark Net
Allocations subject to change.
as of Feb 28, 2020

% of Market Value

Type Fund Benchmark Net
as of Jul 31, 2020

% of Market Value

Type Fund Benchmark Net
as of Feb 28, 2020

% of Market Value

Type Fund Benchmark Net
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management. Certain transactions the funds may utilize may give rise to a form of leverage through either (a) additional market exposure or (b) borrowing capital in an attempt to increase investment return. The use of such transactions includes certain leverage-related risks, including potential for higher volatility, greater decline of the fund’s net asset value and fluctuations of dividends and distributions paid by the fund.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Matthew Kraeger
Lead Portfolio Manager, Mortgage Portfolios

    

Siddharth Mehta
Portfolio Manager, Mortgage Portfolios

   

Portfolio Manager

Literature

Literature

 

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