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Trending ETFs

Name

As of 03/26/2024

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

$8.92

$179 M

5.86%

$0.52

1.05%

Vitals

YTD Return

1.0%

1 yr return

9.0%

3 Yr Avg Return

-1.4%

5 Yr Avg Return

1.0%

Net Assets

$179 M

Holdings in Top 10

9.0%

52 WEEK LOW AND HIGH

$8.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.05%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$8.92

$179 M

5.86%

$0.52

1.05%

MSTMX - Profile

Distributions

  • YTD Total Return 1.0%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.31%
DIVIDENDS
  • Dividend Yield 5.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Morningstar Multisector Bond Fund
  • Fund Family Name
    Morningstar
  • Inception Date
    Nov 02, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Matthew Eagan

Fund Description

In seeking total return through a combination of current income and capital appreciation, the Fund will normally invest at least 80% of its assets in debt securities (commonly referred to as “bonds”) of varying maturity, duration, and quality across various sectors of the fixed-income market. These may include U.S. and non‑U.S. corporate debt securities, U.S. and non‑U.S. government debt securities, emerging-market debt securities, mortgage-backed and asset-backed securities, municipal securities, and floating-rate notes.
The Fund invests in investment grade and below investment grade fixed income securities. The Fund may invest without limit in fixed-income securities that are rated below investment grade (commonly known as junk bonds), or if unrated, are determined by the Fund’s subadviser(s) to be of comparable quality. The Fund may invest without limit in securities denominated in foreign currencies and in U.S. dollar- denominated securities of foreign issuers.
The Fund may invest in securities acquired in a private placement, such as Rule 144A securities, as well as derivatives, including options, futures, swaps, forward foreign currency contracts and currency options, for risk management purposes or as part of its investment strategies. Due to the opportunistic nature of its strategy, the Fund may also invest up to 20% of its assets in equity securities, including common stocks and convertible securities.
The nature of the strategies in this Fund is to engage in active and frequent trading of its portfolio securities which may result in higher portfolio turnover. Turnover is mainly driven by a few strategies employed to help manage duration and curve risk.
Multimanager Approach—The Fund uses a multimanager approach, meaning the adviser may allocate assets to one or more subadvisers, in addition to open- and closed‑end investment companies, ETFs, and individual securities (collectively “Allocation Decisions”). The adviser and each subadviser acts independently from the others and uses its own investment style and process to select securities, within the constraints of the Fund’s
investment objective, strategies, and restrictions. Morningstar is responsible for selecting the investment strategies and making Allocation Decisions, with the goal of maximizing return in the context of pursuing the Fund’s investment objective with a prudent level of risk for the strategy. Morningstar may change subadvisers, subject to the oversight of the board of trustees, and sell holdings at any time.
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MSTMX - Performance

Return Ranking - Trailing

Period MSTMX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.0% -6.5% 5.7% 56.57%
1 Yr 9.0% -9.3% 24.0% 23.34%
3 Yr -1.4%* -16.7% 18.1% 83.58%
5 Yr 1.0%* -13.0% 15.2% 76.74%
10 Yr N/A* -13.4% 6.7% N/A

* Annualized

Return Ranking - Calendar

Period MSTMX Return Category Return Low Category Return High Rank in Category (%)
2023 4.2% -12.0% 15.7% 20.06%
2022 -14.3% -31.8% 18.4% 62.50%
2021 -6.7% -26.6% 25.7% 94.93%
2020 3.5% -49.2% 18.7% 31.27%
2019 3.9% -35.1% 15.3% 60.00%

Total Return Ranking - Trailing

Period MSTMX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.0% -6.5% 5.7% 56.57%
1 Yr 9.0% -9.3% 24.0% 23.34%
3 Yr -1.4%* -16.7% 18.1% 83.58%
5 Yr 1.0%* -13.0% 15.2% 76.74%
10 Yr N/A* -13.4% 6.7% N/A

* Annualized

Total Return Ranking - Calendar

Period MSTMX Return Category Return Low Category Return High Rank in Category (%)
2023 10.0% -7.0% 22.2% 19.75%
2022 -13.1% -31.8% 21.1% 87.66%
2021 -3.8% -13.5% 49.9% 95.75%
2020 6.5% -28.6% 24.1% 41.34%
2019 10.9% -4.8% 19.1% 27.43%

NAV & Total Return History


MSTMX - Holdings

Concentration Analysis

MSTMX Category Low Category High MSTMX % Rank
Net Assets 179 M 2.32 M 127 B 75.50%
Number of Holdings 1459 2 10577 12.59%
Net Assets in Top 10 15.9 M -1.57 B 65.8 B 91.65%
Weighting of Top 10 8.97% 0.7% 170.6% 93.98%

Top 10 Holdings

  1. US T-NOTE 2YR 2.68%
  2. BNTNF 10 01/01/29 NTNF 0.93%
  3. Northern Inst Fds TREAS PRT PRMR 0.91%
  4. BNTNF 10 01/01/27 NTNF 0.68%
  5. BNTNF 10 01/01/31 NTNF 0.67%
  6. B 0 04/09/24 0.66%
  7. SAGB 8.875 02/28/35 2035 0.63%
  8. Northern Inst Fds TREAS PRT PRMR 0.62%
  9. BNTNF 10 01/01/25 NTNF 0.60%
  10. US T-BOND ULTRA 0.58%

Asset Allocation

Weighting Return Low Return High MSTMX % Rank
Bonds
95.95% -150.81% 203.29% 24.58%
Cash
2.58% -94.66% 258.91% 59.33%
Convertible Bonds
2.21% 0.00% 33.50% 37.07%
Other
1.19% -72.32% 100.00% 58.42%
Stocks
0.18% -1.60% 99.88% 55.84%
Preferred Stocks
0.10% 0.00% 30.46% 31.41%

Stock Sector Breakdown

Weighting Return Low Return High MSTMX % Rank
Communication Services
36.98% 0.00% 100.00% 4.78%
Healthcare
13.97% 0.00% 18.60% 5.90%
Technology
11.34% 0.00% 28.30% 19.10%
Industrials
11.18% 0.00% 100.00% 19.94%
Consumer Defense
7.18% 0.00% 99.97% 14.61%
Utilities
4.43% 0.00% 100.00% 22.75%
Financial Services
3.86% 0.00% 100.00% 50.00%
Energy
3.67% 0.00% 100.00% 62.08%
Consumer Cyclical
3.13% 0.00% 89.95% 28.09%
Basic Materials
2.29% 0.00% 100.00% 29.21%
Real Estate
1.96% 0.00% 100.00% 39.33%

Stock Geographic Breakdown

Weighting Return Low Return High MSTMX % Rank
US
0.18% -1.47% 99.88% 53.41%
Non US
0.00% -0.13% 17.73% 25.95%

Bond Sector Breakdown

Weighting Return Low Return High MSTMX % Rank
Government
44.81% 0.00% 99.43% 5.16%
Corporate
29.98% 0.00% 96.66% 56.18%
Cash & Equivalents
1.86% 0.00% 88.14% 61.34%
Securitized
1.01% 0.00% 99.65% 87.79%
Derivative
0.27% -72.32% 37.37% 26.94%
Municipal
0.00% 0.00% 54.26% 41.78%

Bond Geographic Breakdown

Weighting Return Low Return High MSTMX % Rank
US
76.12% -151.11% 203.29% 50.08%
Non US
19.82% 0.00% 67.77% 19.27%

MSTMX - Expenses

Operational Fees

MSTMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.05% 0.01% 20.67% 56.88%
Management Fee 0.61% 0.00% 2.29% 54.67%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

MSTMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MSTMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

MSTMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 632.00% 31.94%

MSTMX - Distributions

Dividend Yield Analysis

MSTMX Category Low Category High MSTMX % Rank
Dividend Yield 5.86% 0.00% 18.15% 30.23%

Dividend Distribution Analysis

MSTMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Quarterly

Net Income Ratio Analysis

MSTMX Category Low Category High MSTMX % Rank
Net Income Ratio 4.31% -1.55% 11.51% 14.48%

Capital Gain Distribution Analysis

MSTMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

MSTMX - Fund Manager Analysis

Managers

Matthew Eagan


Start Date

Tenure

Tenure Rank

Nov 02, 2018

3.58

3.6%

Matthew J. Eagan is an Executive Vice President and a member of the Board of Directors of Loomis Sayles. Mr. Eagan started his investment career in 1989 and joined Loomis Sayles in 1997. Previously, he worked for Liberty Mutual Insurance Company as a senior fixed-income analyst and for BancBoston Financial Company as a senior credit analyst. Mr. Eagan received his BA from Northeastern University and his MBA from Boston University. He is a CFA® charterholder.

Elaine Stokes


Start Date

Tenure

Tenure Rank

Nov 02, 2018

3.58

3.6%

Elaine M. Stokes is an Executive Vice President and a member of the Board of Directors of Loomis Sayles. She has joined Loomis Sayles in 1988. Prior to becoming a portfolio manager in 2000, she had experience working in high yield, global and emerging markets, serving as a senior fixed-income trader and portfolio specialist. Ms. Stokes is co-head and founder of the Loomis Sayles Women's Network group and is on the executive board for the Strong Women, Strong Girls nonprofit organization. Ms. Stokes earned a BS from St. Michael's College.

Alex Stanojevic


Start Date

Tenure

Tenure Rank

Nov 02, 2018

3.58

3.6%

Alex Stanojevic—Alex Stanojevic is a portfolio manager for the TCW Emerging Markets Group. Prior to this, he served as the team’s head trader, where he was responsible for trading emerging-markets fixed-income assets and determining relative value opportunities in the investable universe. Stanojevic joined TCW in 2005 from Coast Asset Management LP, where he was responsible for interest-rate derivatives transactions, trade modeling, research, and performance reporting. Stanojevic received his BS in Finance from the California State University Long Beach (magna cum laude), and an MBA from Loyola Marymount University, Los Angeles.

Ricky Williamson


Start Date

Tenure

Tenure Rank

Jun 30, 2019

2.92

2.9%

Ricky Williamson is a portfolio manager within Morningstar Investment Management. He is focused on portfolio construction, asset allocation, and manager due diligence. Williamson is also a member of Investment Management’s Global Asset Allocation team, focusing on emerging-market debt as well as general fixed-income research. He develops and implements asset-class positioning and fund-of-funds portfolios, evaluates investment managers, and performs capital-market research. He currently serves as a co-manager for three Morningstar mutual funds: Morningstar Total Return Bond Fund, Morningstar Municipal Bond Fund, and Morningstar Multisector Bond Fund. Prior to joining Morningstar Investment Management in 2013, Williamson was a consultant and analyst with Cardinal Investment Advisors, LLC., where he built asset-allocation models for defined-benefit plans, performed manager due diligence, and worked on capital-market research. Williamson holds a bachelor’s degree in economics and government from the University of Virginia. He also holds a Certificate in Investment Performance Measurement and the Chartered Financial Analyst® designation.

Hong Cheng


Start Date

Tenure

Tenure Rank

Dec 30, 2020

1.42

1.4%

Hong Cheng is a portfolio manager within Morningstar's Investment Management group. Hong's primary responsibilities include managing the income focused strategies, including portfolio construction, subadvisor and ETF selection. Hong also co-manages Morningstar Global Income fund, Morningstar Multisector Bond fund and Morningstar Defensive Bond fund. Hong is a member of Investment Management's Global Asset Allocation team focusing on U.S. below-investment grade credit sectors. Hong is a CFA Charter Holder, a member of the CFA Institute and the CFA Society of Chicago.

Todd Vandam


Start Date

Tenure

Tenure Rank

Mar 31, 2021

1.17

1.2%

Todd Vandam is a Vice President at Loomis, Sayles & Company and co-portfolio manager with the fixed-income high yield and global high yield teams. Mr. Vandam began his career at Loomis Sayles in 1994 on the high yield trading desk. Prior to joining Loomis Sayles in 1994, Mr. Vandam worked as a Field Artillery Officer in the United States Army, most recently working as a Fire Support Officer stationed at Fort Davis, Panama. Mr. Vandam earned a BA in business and economics from Brown University. He is a member of the Boston Security Analysts Society and he is a CFA®charterholder.

Brian Kennedy


Start Date

Tenure

Tenure Rank

Mar 31, 2021

1.17

1.2%

Brian Kennedy is a Vice President of Loomis, Sayles & Company and co-portfolio manager of the firm’s multisector institutional strategies and mutual funds. Mr. Kennedy joined Loomis Sayles in 1994 as a securitized and government bond trader. Mr. Kennedy first joined the full discretion investment team as product manager in 2009, was promoted in 2013 to co-portfolio manager of the investment grade bond products and again in 2016 to co-portfolio manager of the multisector suite of products. He earned a BS from Providence College and an MBA from Babson College.

Anil Katarya


Start Date

Tenure

Tenure Rank

May 02, 2022

0.08

0.1%

Anil Katarya, CFA Co-Head of Investment Grade Credit Anil Katarya is co-head of investment grade credit and senior portfolio manager at Voya Investment Management. Previously, Anil was the head of credit portfolio management and also served as a portfolio manager and credit analyst on the investment grade team since joining Voya in 2000. Prior to joining the firm, Anil was a financial analyst for Mirant Inc. He received a BS in mechanical engineering from Kurukshetra University, India, and an MBA from Georgia State University. Anil holds the Chartered Financial Analyst® designation.

Travis King


Start Date

Tenure

Tenure Rank

May 02, 2022

0.08

0.1%

Travis King, CFA Co-Head of Investment Grade Credit Travis King is co-head of investment grade credit at Voya Investment Management. Prior to joining the firm, he was a senior fixed income analyst with Reams Asset Management. Travis received a BBA from James Madison University and an MBA from Memorial University. He holds the Chartered Financial Analyst® designation.

Alfonzo Bruno


Start Date

Tenure

Tenure Rank

May 02, 2022

0.08

0.1%

Alfonzo Bruno is an associate portfolio manager with Morningstar’s Investment Management group. Along with the other Morningstar portfolios managers for the Funds, Bruno is responsible for subadviser selection and oversight, subadviser and exchange traded funds (ETFs) allocations, in addition to other portfolio management responsibilities. Bruno is also a member of Investment Management’s Global Asset Allocation team focusing on U.S. treasuries and agency mortgage-backed securities. Previously, Bruno was a manager research analyst at Morningstar, where he focused on fixed income manager research. Prior to joining Morningstar, Bruno was an investment analyst for the Illinois Municipal Retirement Fund where he focused on public markets portfolio and risk management. Bruno holds a bachelor’s degree in finance from the University of Iowa. Bruno is a CFA Charterholder. Bruno has served as a portfolio manager for the Funds since May 2022.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19