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Name

As of 04/22/2024

Price

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

MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund

MMUTX | Fund

$4.79

$155 M

3.61%

$0.17

0.12%

Vitals

YTD Return

-8.4%

1 yr return

-14.2%

3 Yr Avg Return

-12.2%

5 Yr Avg Return

-4.7%

Net Assets

$155 M

Holdings in Top 10

54.9%

52 WEEK LOW AND HIGH

$4.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.12%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 116.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/22/2024

Price

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

MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund

MMUTX | Fund

$4.79

$155 M

3.61%

$0.17

0.12%

MMUTX - Profile

Distributions

  • YTD Total Return -8.4%
  • 3 Yr Annualized Total Return -12.2%
  • 5 Yr Annualized Total Return -4.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.69%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    MassMutual Select T. Rowe Price U.S. Treasury Long-Term Index Fund
  • Fund Family Name
    MASSMUTUAL FUNDS
  • Inception Date
    Feb 09, 2018
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brian Brennan

Fund Description

Principal Investment Strategies
The Fund seeks to track the investment returns of its benchmark index, the Bloomberg U.S. Long Treasury Bond Index*.
Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in securities that are held in its benchmark index and at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in U.S. Treasury securities, which are backed by the full faith and credit of the U.S. Government. The Fund’s subadviser, T. Rowe Price Associates, Inc. (“T. Rowe Price”), invests the remainder of the Fund’s assets in other securities backed by the full faith and credit of the U.S. Government and in shares of a T. Rowe Price internal money fund or short-term bond fund that invests exclusively in securities backed by the full faith and credit of the U.S. Government. Securities backed by the full faith and credit of the U.S. Government include, without limitation, securities issued by Government
​
*
“Bloomberg®” and Bloomberg U.S. Long Treasury Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by MassMutual. Bloomberg is not affiliated with MassMutual, and Bloomberg does not approve, endorse, review, or recommend the Fund. Bloomberg does not guarantee the timeliness, accuracy, or completeness of any data or information relating to the Fund.
​
National Mortgage Association and other government agencies and certain corporate debt securities guaranteed by U.S. Government agencies.
The dollar-weighted average maturity of the Fund’s portfolio will normally exceed 10 years, and it will vary consistent with the dollar-weighted average maturity of the benchmark index.
The Bloomberg U.S. Long Treasury Bond Index is an index consisting of U.S. dollar-denominated, fixed rate nominal debt issued by the U.S. Treasury with maturities of 10 years or more. The Fund does not attempt to fully replicate the index by holding each of the bonds represented in the index. Instead, the Fund seeks to track the returns of the index and more efficiently replicate the key risk factors of the index (such as maturity, duration, and credit quality) by attempting to capitalize on market inefficiencies through structural portfolio positioning and via small tactical bets on inflation, duration, and yield curve positioning.
U.S. Treasury securities in which the Fund may invest include Treasury bills, notes, and bonds (which includes Treasury STRIPS), as well as Treasury inflation protected securities. The Fund buys and sells U.S. Treasury futures, which are futures contracts on U.S. Treasury bonds or notes, and options on such instruments, to gain efficient exposure to U.S. Treasury security prices, help realign the portfolio with the benchmark index, adjust its sensitivity to interest rate changes, and/or manage cash flows into and out of the Fund. Interest rate futures are also used to manage the Fund’s exposure to interest rate changes or to adjust portfolio duration. Use of derivatives by the Fund may create investment leverage.
The Fund may purchase and sell securities on a when-issued, delayed delivery, to-be-announced, or forward commitment basis.
The Fund may sell securities to better align its portfolio with the characteristics of the Bloomberg U.S. Long Treasury Bond Index and will generally seek to sell securities that have been removed from the index within a reasonable timeframe taking into consideration market conditions.
The Fund expects that it will engage in active and frequent trading and so will typically have a relatively high portfolio turnover rate.
Read More

MMUTX - Performance

Return Ranking - Trailing

Period MMUTX Return Category Return Low Category Return High Rank in Category (%)
YTD -8.4% -15.4% -3.9% 57.58%
1 Yr -14.2% -21.0% -4.3% 75.76%
3 Yr -12.2%* -17.5% -5.1% 75.76%
5 Yr -4.7%* -6.8% -1.0% 75.86%
10 Yr N/A* -0.7% 0.9% N/A

* Annualized

Return Ranking - Calendar

Period MMUTX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.7% -2.9% 2.7% 84.85%
2022 -30.8% -42.8% -16.7% 24.24%
2021 -6.8% -25.7% -4.1% 42.42%
2020 -24.1% -24.1% 22.6% 100.00%
2019 6.2% 3.3% 18.5% 78.57%

Total Return Ranking - Trailing

Period MMUTX Return Category Return Low Category Return High Rank in Category (%)
YTD -8.4% -15.4% -3.9% 57.58%
1 Yr -14.2% -21.0% -4.3% 75.76%
3 Yr -12.2%* -17.5% -5.1% 75.76%
5 Yr -4.7%* -6.8% -1.0% 75.86%
10 Yr N/A* -0.7% 0.9% N/A

* Annualized

Total Return Ranking - Calendar

Period MMUTX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.7% -1.7% 4.9% 100.00%
2022 -29.2% -41.3% -15.2% 21.21%
2021 -5.2% -6.5% -1.9% 78.79%
2020 16.4% 10.0% 25.0% 83.87%
2019 14.7% 8.0% 21.2% 28.57%

NAV & Total Return History

MMUTX - Holdings

Concentration Analysis

MMUTX Category Low Category High MMUTX % Rank
Net Assets 155 M 25.2 M 49.8 B 90.91%
Number of Holdings 44 4 288 81.82%
Net Assets in Top 10 85 M 25.2 M 26.5 B 90.91%
Weighting of Top 10 54.87% 18.7% 114.3% 43.75%

Top 10 Holdings

  1. 02/43 3.875 12.31%
  2. 05/53 3.625 5.88%
  3. 05/43 3.875 5.50%
  4. 02/52 2.25 5.34%
  5. 08/53 4.125 5.01%
  6. 11/41 2 4.71%
  7. 11/42 4 4.65%
  8. 02/53 3.625 4.05%
  9. 05/41 2.25 3.79%
  10. 08/43 4.375 3.63%

Asset Allocation

Weighting Return Low Return High MMUTX % Rank
Bonds 		99.20% 96.34% 207.72% 48.48%
Cash 		0.86% 0.00% 7.19% 60.61%
Stocks 		0.00% 0.00% 0.12% 81.82%
Preferred Stocks 		0.00% 0.00% 0.00% 81.82%
Convertible Bonds 		0.00% 0.00% 0.00% 81.82%
Other 		-0.07% -109.51% 1.64% 81.82%

Bond Sector Breakdown

Weighting Return Low Return High MMUTX % Rank
Government 		97.33% 25.53% 99.97% 63.64%
Securitized 		2.40% 0.00% 42.48% 39.39%
Cash & Equivalents 		0.00% 0.00% 7.19% 93.94%
Corporate 		0.00% 0.00% 0.48% 81.82%
Municipal 		0.00% 0.00% 0.01% 81.82%
Derivative 		-0.15% -5.09% 1.64% 81.82%

Bond Geographic Breakdown

Weighting Return Low Return High MMUTX % Rank
US 		99.20% 96.34% 206.99% 48.48%
Non US 		0.00% 0.00% 0.72% 81.82%

MMUTX - Expenses

Operational Fees

MMUTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.12% 0.03% 3.12% 59.38%
Management Fee 0.00% 0.00% 0.65% 6.25%
12b-1 Fee N/A 0.00% 1.00% 42.86%
Administrative Fee N/A 0.15% 0.35% N/A

Sales Fees

MMUTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.75% 3.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

MMUTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

MMUTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 116.00% 6.00% 116.00% 100.00%

MMUTX - Distributions

Dividend Yield Analysis

MMUTX Category Low Category High MMUTX % Rank
Dividend Yield 3.61% 0.00% 4.55% 100.00%

Dividend Distribution Analysis

MMUTX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Monthly Monthly Monthly

Net Income Ratio Analysis

MMUTX Category Low Category High MMUTX % Rank
Net Income Ratio 1.69% 0.74% 2.87% 68.75%

Capital Gain Distribution Analysis

MMUTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

View More +

MMUTX - Fund Manager Analysis

Managers

Brian Brennan

Start Date

Tenure

Tenure Rank

Feb 09, 2018

4.31

4.3%

Brian Brennan is a portfolio manager in the Fixed Income Division at T. Rowe Price. He also is a member of the portfolio strategy team for T. Rowe Price’s core and core plus mandates. Mr. Brennan is a vice president of T. Rowe Price Group, Inc., T. Rowe Price Associates, Inc., T. Rowe Price International Ltd, and T. Rowe Price Trust Company. Mr. Brennan joined the Firm in 2000 and his investment experience dates from 1987. Prior to joining T. Rowe Price, he was a fixed income manager with Howard Hughes Medical Institute. Mr. Brennan began his career at CIGNA Investments, Inc., as a portfolio analyst for immunized and indexed fixed income accounts. Mr. Brennan earned a B.S. in economics and computer sciences and an M.A. in economics from Trinity College in Hartford, Connecticut. He also earned the Chartered Financial Analyst (CFA) designation and is a former president and treasurer of the Baltimore CFA Society.

Michael Sewell

Start Date

Tenure

Tenure Rank

Jan 01, 2022

0.41

0.4%

Michael K. Sewell joined T. Rowe Price in 2004.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.41 25.85 7.77 14.84

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