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SBBVX Schroder Total Return Fixed Income Adv

  • Fund
  • SBBVX
  • Price as of: Dec 20, 2016
  • $9.67
  • - $0.01
  • - 0.10%
  • Category
  • Total Bond Market

SBBVX - Profile

Vitals

  • YTD Return -0.6%
  • 3 Yr Annualized Return 2.0%
  • 5 Yr Annualized Return 2.4%
  • Net Assets $71 M
  • Holdings in Top 10 147.8%

52 WEEK LOW AND HIGH

$9.67
$9.66
$9.80

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.81%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 93.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of 2016-07-01

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Total Bond Market
  • Fund Type Open End Mutual Fund
  • Investment Style Intermediate-Term Bond

Distributions

  • YTD Total Return -0.6%
  • 3 Yr Annualized Total Return 2.0%
  • 5 Yr Annualized Total Return 2.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.29%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Schroder Total Return Fixed Income Fund
  • Fund Family Name Schroder
  • Inception Date Dec 31, 2004
  • Shares Outstanding N/A
  • Share Class Adv
  • Currency USD
  • Domiciled Country United States
  • Manager Chris Ames

Fund Description

The fund normally invests at least 80% of its net assets in fixed income obligations. It invests principally in securities that, at the time of purchase, are rated "investment grade" (or considered by the adviser to be of comparable quality) although the fund may invest up to 20% of its total assets in securities below "investment grade," which are sometimes referred to as "junk bonds." The Advisor intends to maintain an average effective portfolio duration that is within 20% of the average effective duration of the Barclays U.S. Aggregate Bond Index.

SBBVX - Performance

Return Ranking - Trailing

Period SBBVX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.6% -19.6% 23.3% 63.11% 5
1 Yr 1.2% -15.5% 18.1% 58.86% 4
3 Yr 2.0% * -10.3% 10.0% 50.83% 3
5 Yr 2.4% * -2.4% 13.4% 32.57% 2
10 Yr 4.3% * -1.7% 9.4% 33.76% 2

* Annualized


Return Ranking - Calendar

Period SBBVX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -4.3% -10.9% 192.8% 63.50% 5
2015 2.9% -33.0% 4.2% 0.55% 1
2014 -4.2% -9.3% 14.9% 63.80% 5
2013 0.2% -24.1% 40.4% 6.80% 1
2012 2.9% -100.0% 18.7% 32.09% 3

Total Return Ranking - Trailing

Period SBBVX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.6% -19.6% 23.3% 63.02% 5
1 Yr 1.2% -15.5% 18.1% 48.28% 3
3 Yr 2.0% * -10.1% 10.0% 43.83% 3
5 Yr 2.4% * -3.2% 13.4% 28.90% 2
10 Yr 4.3% * -1.7% 9.4% 31.43% 2

* Annualized


Total Return Ranking - Calendar

Period SBBVX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -4.0% -9.5% 195.3% 68.94% 5
2015 2.9% -32.5% 7.4% 0.99% 1
2014 -4.2% -8.3% 16.8% 73.03% 5
2013 4.3% -12.9% 58.5% 4.17% 1
2012 4.3% -100.0% 35.2% 39.77% 3

NAV & Total Return History

SBBVX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

SBBVX Category Low Category High SBBVX % Rank Quintile
Net Assets 71 M 319 K 190 B 33.88% 5
Number of Holdings 229 1 17381 20.60% 4
Net Assets in Top 10 -44.8 M -36 B 31.8 B 37.23% 5
Weighting of Top 10 147.8% 0.0% 1330.9% 1.02% 1

Top 10 Holdings

  1. 90 Day Euro$ Dec 17 77.57%
  2. Euro BUND Future Dec16 18.08%
  3. 2 Year US Treasury Note Future Dec16 13.91%
  4. U.S. Treasury Bond Dec16 11.51%
  5. US Treasury Note 1.125% 6.63%
  6. US Treasury Note 5.25%
  7. US Treasury Note 2.25% 4.50%
  8. US Treasury Note 1.125% 3.84%
  9. US 5 Year Note (CBT) Dec16 3.29%
  10. US Treasury Note 1.5% 3.25%

Asset Allocation

Weighting Category Low Category High SBBVX % Rank Quintile
Bonds
60.83% -175.98% 562.01% 31.18% 5
Cash
39.39% -461.99% 275.92% 2.09% 1
Stocks
0.00% -3.75% 97.37% 5.80% 3
Preferred Stocks
0.00% -0.55% 16.33% 10.99% 4
Convertible Bonds
0.00% 0.00% 13.10% 6.66% 3
Other
-0.22% -24.51% 99.99% 16.07% 5

Bond Sector Breakdown

Weighting Category Low Category High SBBVX % Rank Quintile
Corporate
72.80% 0.00% 221.70% 1.53% 1
Securitized
42.72% 0.00% 118.59% 8.14% 2
Derivative
38.63% -64.42% 83.22% 0.20% 1
Cash & Equivalents
0.76% -462.00% 275.92% 26.96% 5
Municipal
0.68% 0.00% 97.96% 11.04% 2
Government
-55.38% -389.49% 503.27% 35.86% 5

Bond Geographic Breakdown

Weighting Category Low Category High SBBVX % Rank Quintile
Non US
32.37% -124.80% 530.33% 3.81% 1
US
28.46% -482.62% 500.82% 35.71% 5

SBBVX - Expenses

Operational Fees

SBBVX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.81% 0.00% 32.76% 10.13% 2
Management Fee 0.25% 0.00% 2.15% 3.66% 1
12b-1 Fee 0.25% 0.00% 1.00% 1.90% 2
Administrative Fee 0.09% 0.00% 0.63% 2.78% 2

Sales Fees

SBBVX Fees (% of AUM) Category Low Category High SBBVX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 0.15% 5.50% N/A N/A

Trading Fees

SBBVX Fees (% of AUM) Category Low Category High SBBVX Rank Quintile
Max Redemption Fee N/A 0.25% 2.00% N/A N/A

Turnover 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.

SBBVX Fees (% of AUM) Category Low Category High SBBVX Rank Quintile
Turnover 93.00% 0.00% 1541.00% 10.99% 3

SBBVX - Distributions

Dividend Yield Analysis

SBBVX Category Low Category High SBBVX % Rank Quintile
Dividend Yield 0.2% 0.00% 1.00% 17.14% 3

Dividend Distribution Analysis

SBBVX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

SBBVX Category Low Category High SBBVX % Rank Quintile
Net Income Ratio 2.29% -1.56% 9.28% 12.47% 2

Capital Gain Distribution Analysis

SBBVX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

SBBVX - Managers

Chris Ames

Manager

Start Date

Mar 01, 2011

Tenure

5.76

Tenure Rank

6.2%

Chris Ames, ABS Portfolio Manager.Joined Schroders in 2007.Prior to joining Schroders, Chris worked at Cheyne Capital where he invested in sub-investment grade and equity tranches from Continental European Asset-Backed Securities. Previously, he was Head of ABS and CDO Research at BNP Paribas Chris begined as a Mortgage-Backed Securities researcher for Lehman Brothers in the US. He moved to London in 1994 and has focused on European ABS ever since, in research, sales and trading roles.Chris has an MBA in Finance from the Stern School of Business at New York University, and a BA in Psychology from Boston University.


Neil G. Sutherland

Lead Manager

Start Date

Oct 17, 2014

Tenure

2.12

Tenure Rank

9.2%

Mr. Sutherland is a Portfolio Manager at the Schroders organization. He has been associated with Schroders since 2013, joined STW in November 2008. Previously, he spent seven years at AXA Investment Managers, where he held the position of Senior Fixed Income Manager. While there, he focused on the sterling credit market and worked with Andrew Chorlton for six years on the UK fixed income portfolio management team. Before that, Neil was part of Newton Investment Group’s Global Fixed Income Team, where for four years he managed a range of fixed income portfolios. Neil holds an MA in Business and Politics from the University of Dublin, Trinity College.


Wesley A. Sparks

Manager

Start Date

Dec 31, 2004

Tenure

11.92

Tenure Rank

2.7%

Wesley Sparks, CFA – Head of US Taxable Fixed Income * Joined Schroders in 2000 * Prior to joining Schroders, Wes worked with Aeltus Investment Management Inc. as Vice President and portfolio manager. He also worked at Trust Company of the West as Vice President and portfolio manager from 1996-1999. Prior to which, he worked at Fischer Francis Trees & Watts as an Assistant Portfolio Manager. His investment career commenced in 1988 when he joined Goldman Sachs as a Financial Analyst in Chicago before transferring to Goldman Sachs Asset Management in New York in 1989 * CFA charterholder * MBA in Finance from the Wharton School at the University of Pennsylvania. BA, Economics Northwestern University.


Richard A. Rezek

Manager

Start Date

Oct 17, 2014

Tenure

2.12

Tenure Rank

9.2%

Richard A. Rezek Jr.: Portfolio Manager, US Fixed Income • Rick Rezek is a Fixed Income portfolio manager and a member of the team responsible for managing all Multi-Sector portfolios including the Value portfolios. • Rick is the lead portfolio manager for the Schroder ISF Global Corporate Bond and Schroder ISF Global Credit Duration Hedged. • Rick is also a credit specialist portfolio manager for the Schroder Total Return Fixed Income Fund and Schroder ISF USD Bond, as well as several US and Global corporate mandates. • Rick joined Schroders in 2013 following the acquisition of STW Fixed Income Management, where he had worked since 2002. At STW, Rick was Principal, Portfolio Manager and a member of the team responsible. • Prior to that, Rick spent seven years as Vice President and Portfolio Manager at Loomis Sayles, the senior member of the group’s Corporate and Mortgage team. • Before that, he was Vice President of the Wells Fargo Bank Investment Management Group and Vice President and Portfolio Manager at Duff & Phelps where he specialized in the management of discretionary and advisory investment-grade fixed income portfolios for institutional and individual investors. • He is CFA Charterholder and is based in New York.


Tenure Analysis

Category Low

0.0

Category High

28.8

Category Average

6.43

Category Mode

2.8