SA US Fixed Income Select
Name
As of 10/26/2022Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$407 M
Holdings in Top 10
65.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.42%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 113.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/26/2022Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SAULX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.06%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameSA U.S. Fixed Income Fund
-
Fund Family NameSA Funds
-
Inception DateJul 03, 2017
-
Shares OutstandingN/A
-
Share ClassS
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerDavid Plecha
Fund Description
The Fund pursues its goal by investing primarily in:
•
obligations issued or guaranteed by the U.S. government or its agencies or instrumentalities;
•
dollar-denominated obligations of foreign issuers issued in the United States;
•
bank obligations, including those of U.S. banks and savings and loan associations and dollar-denominated obligations of U.S. subsidiaries and branches of foreign banks, such as certificates of deposit (including marketable variable rate certificates of deposit) and bankers’ acceptances;
•
corporate debt obligations;
•
commercial paper;
•
obligations of supranational organizations, such as the World Bank and the European Investment Bank; and
•
repurchase agreements.
Generally, the Fund acquires obligations that mature within three years from the date of settlement. The Fund has a non-fundamental investment policy that, under normal circumstances, it will invest at least 80% of its net assets in fixed income securities issued in the U.S.
The Fund generally invests in fixed income securities that are rated investment grade. The Fund considers fixed income securities to be investment grade if, at the time of investment, they are rated at least BBB- by S&P Global Ratings, (“S&P”), Baa3 by Moody’s Investors Service, Inc. (“Moody’s”), or BBB- by Fitch Ratings Ltd. (“Fitch”) or, if unrated, have been determined by Dimensional Fund Advisors LP (the “Sub-Adviser”) to be of comparable quality.
2 | Summary Prospectus |
With respect to corporate debt securities (e.g., bonds and debentures), the Fund generally invests in investment grade securities that are issued by U.S. issuers and dollar-denominated obligations of foreign issuers issued in the U.S.
The Fund may invest in U.S. Treasury bonds, bills and notes and obligations of federal agencies or instrumentalities, including inflation-protected securities such as Treasury Inflation-Protected Securities (TIPS). Some U.S. government obligations that the Fund may invest in, such as Treasury bills, notes and bonds and securities guaranteed by the Government National Mortgage Association, are supported by the full faith and credit of the United States, while others such as those of or guaranteed by the Federal Home Loan Banks, Federal Home Loan Mortgage Corporation and Federal National Mortgage Association are not.
The Fund will invest more than 25% of its total assets in dollar-denominated obligations of U.S. banks and U.S. subsidiaries and branches of foreign banks and bank holding companies when the yield to maturity on these investments exceeds the yield to maturity on all other eligible portfolio investments of similar quality for a period of five consecutive days during which the New York Stock Exchange (“NYSE”) is open for trading. To determine that yields on dollar-denominated bank obligations are more attractive than yields on all other eligible portfolio investments of similar quality, the Sub-Adviser will examine the yield to maturity information for available fixed income securities of other industry sectors as compared to bank obligations after eliminating individual securities in each industry sector that would not be eligible for investment by the Fund. If the yield to maturity for eligible bank obligations is higher than that of eligible portfolio investments of similar quality of all other industry sectors, investments in bank obligations will be considered to have a yield that generally exceeds the yield on other eligible investments as a group. When investments in such bank obligations exceed 25% of the Fund’s total assets, the Fund’s investments will be concentrated in the banking industry.
The types of bank and bank holding company obligations in which the Fund may invest include, without limitation: dollar-denominated certificates of deposit, bankers’ acceptances, commercial paper, repurchase agreements and other debt obligations that mature within three years of the date of settlement, provided such obligations meet the Fund’s established credit rating or other criteria. Commercial paper and certificates of deposit must, at the time of investment, be rated at least A-3 by S&P, P-3 by Moody’s or F3 by Fitch or, if unrated, issued by a corporation having an outstanding unsecured debt issue rated at least BBB- by S&P or Fitch or Baa3 by Moody’s.
All ratings described above apply at the time of investment.
SAULX - Performance
Return Ranking - Trailing
Period | SAULX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -1.9% | 6.9% | 100.00% |
1 Yr | N/A | -5.9% | 8.4% | 94.27% |
3 Yr | N/A* | -3.3% | 9.5% | 98.57% |
5 Yr | N/A* | -11.1% | 2.8% | 94.68% |
10 Yr | N/A* | -4.9% | 1.7% | 94.78% |
* Annualized
Return Ranking - Calendar
Period | SAULX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -6.4% | 2.3% | 100.00% |
2022 | -1.3% | -1.1% | 21.9% | 95.77% |
2021 | 0.2% | -21.0% | 1.0% | 55.39% |
2020 | 0.5% | -0.3% | 2.6% | 49.48% |
2019 | -0.4% | -12.9% | 1.0% | 41.92% |
Total Return Ranking - Trailing
Period | SAULX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -3.2% | 3.5% | 99.57% |
1 Yr | N/A | -5.9% | 3.2% | 93.83% |
3 Yr | N/A* | -3.3% | 9.5% | 98.54% |
5 Yr | N/A* | -11.1% | 2.6% | 95.14% |
10 Yr | N/A* | -4.8% | 1.7% | 94.03% |
* Annualized
Total Return Ranking - Calendar
Period | SAULX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -6.4% | 2.3% | 100.00% |
2022 | -1.3% | -1.1% | 21.9% | 98.12% |
2021 | 0.8% | -21.0% | 1.0% | 87.25% |
2020 | 2.6% | -0.3% | 2.6% | 70.31% |
2019 | 1.4% | -12.9% | 1.0% | 67.66% |
NAV & Total Return History
SAULX - Holdings
Concentration Analysis
SAULX | Category Low | Category High | SAULX % Rank | |
---|---|---|---|---|
Net Assets | 407 M | 24.5 K | 27.6 B | 69.16% |
Number of Holdings | 68 | 1 | 3396 | 84.96% |
Net Assets in Top 10 | 307 M | -200 M | 16.1 B | 34.07% |
Weighting of Top 10 | 65.30% | 2.6% | 103.2% | 11.31% |
Top 10 Holdings
- United States Treasury Notes 0.25% 10.35%
- United States Treasury Notes 2.12% 10.26%
- United States Treasury Notes 0.375% 10.09%
- United States Treasury Notes 2% 9.97%
- United States Treasury Notes 1.25% 9.96%
- United States Treasury Notes 2.25% 9.93%
- United States Treasury Notes 0.625% 9.74%
- United States Treasury Notes 1.5% 9.72%
- United States Treasury Notes 0.12% 9.63%
- United States Treasury Notes 2.38% 9.61%
Asset Allocation
Weighting | Return Low | Return High | SAULX % Rank | |
---|---|---|---|---|
Bonds | 98.33% | 0.00% | 123.41% | 7.08% |
Convertible Bonds | 1.36% | 0.00% | 15.25% | 68.14% |
Cash | 0.31% | -24.02% | 100.00% | 93.36% |
Stocks | 0.00% | 0.00% | 3.35% | 22.12% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 15.49% |
Other | 0.00% | -10.38% | 3.22% | 30.09% |
Bond Sector Breakdown
Weighting | Return Low | Return High | SAULX % Rank | |
---|---|---|---|---|
Government | 62.78% | 0.00% | 100.00% | 4.87% |
Corporate | 36.91% | 0.00% | 99.91% | 57.08% |
Cash & Equivalents | 0.31% | 0.00% | 100.00% | 91.59% |
Derivative | 0.00% | 0.00% | 23.15% | 31.42% |
Securitized | 0.00% | 0.00% | 100.00% | 81.42% |
Municipal | 0.00% | 0.00% | 70.39% | 54.42% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | SAULX % Rank | |
---|---|---|---|---|
US | 82.13% | 0.00% | 100.00% | 26.11% |
Non US | 16.20% | 0.00% | 49.76% | 26.55% |
SAULX - Expenses
Operational Fees
SAULX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.42% | 0.08% | 18.10% | 61.11% |
Management Fee | 0.18% | 0.00% | 1.19% | 17.18% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.10% | 0.01% | 0.40% | 31.68% |
Sales Fees
SAULX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.50% | 5.75% | N/A |
Deferred Load | N/A | 0.25% | 1.00% | N/A |
Trading Fees
SAULX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 1.00% | 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.
SAULX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 113.00% | 0.00% | 369.54% | 87.30% |
SAULX - Distributions
Dividend Yield Analysis
SAULX | Category Low | Category High | SAULX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 6.34% | 97.35% |
Dividend Distribution Analysis
SAULX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Monthly | Monthly |
Net Income Ratio Analysis
SAULX | Category Low | Category High | SAULX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.06% | -1.30% | 14.86% | 85.39% |
Capital Gain Distribution Analysis
SAULX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 09, 2022 | $0.060 | OrdinaryDividend |
Jun 10, 2022 | $0.015 | OrdinaryDividend |
Mar 09, 2022 | $0.008 | OrdinaryDividend |
Dec 23, 2020 | $0.007 | OrdinaryDividend |
Sep 10, 2020 | $0.006 | OrdinaryDividend |
Jun 10, 2020 | $0.010 | OrdinaryDividend |
Mar 06, 2020 | $0.037 | OrdinaryDividend |
Dec 20, 2019 | $0.062 | OrdinaryDividend |
Sep 06, 2019 | $0.042 | OrdinaryDividend |
Jun 07, 2019 | $0.049 | OrdinaryDividend |
Mar 08, 2019 | $0.058 | OrdinaryDividend |
Dec 21, 2018 | $0.096 | OrdinaryDividend |
Sep 07, 2018 | $0.029 | OrdinaryDividend |
Jun 08, 2018 | $0.023 | OrdinaryDividend |
Mar 09, 2018 | $0.029 | OrdinaryDividend |
Dec 22, 2017 | $0.038 | OrdinaryDividend |
Sep 08, 2017 | $0.024 | OrdinaryDividend |
SAULX - Fund Manager Analysis
Managers
David Plecha
Start Date
Tenure
Tenure Rank
Apr 02, 2007
15.17
15.2%
David Plecha is Dimensional’s Global Head of Fixed Income. A member of the Investment Committee and Investment Research Committee, he not only manages US and global portfolios but also maintains much of the fixed income research and client communications. Dave received his Chartered Financial Analyst® designation in 1996. Prior to joining Dimensional in 1989, he managed stock index futures and options for Leland O’Brien Rubinstein Associates and was an operations planner for Texas Instruments.
Joseph Kolerich
Start Date
Tenure
Tenure Rank
Oct 29, 2012
9.59
9.6%
Joseph Kolerich is Head of Fixed Income, Americas, Senior Portfolio Manager and Vice President of Dimensional and a member of the Investment Committee. Mr. Kolerich has an MBA from the University of Chicago Booth School of Business and a BS from Northern Illinois University. Mr. Kolerich joined DFA as a portfolio manager in 2001 and has been responsible for the fixed income portfolios since 2012.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 32.44 | 6.64 | 7.92 |