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Name

As of 04/17/2024

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

Bridge Builder International Equity Fund

BBIEX | Fund

$12.38

$18.5 B

2.44%

$0.30

0.63%

Vitals

YTD Return

0.9%

1 yr return

5.8%

3 Yr Avg Return

-2.9%

5 Yr Avg Return

4.0%

Net Assets

$18.5 B

Holdings in Top 10

12.4%

52 WEEK LOW AND HIGH

$12.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.63%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 52.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/17/2024

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

Bridge Builder International Equity Fund

BBIEX | Fund

$12.38

$18.5 B

2.44%

$0.30

0.63%

BBIEX - Profile

Distributions

  • YTD Total Return 0.9%
  • 3 Yr Annualized Total Return -2.9%
  • 5 Yr Annualized Total Return 4.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.21%
DIVIDENDS
  • Dividend Yield 2.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Bridge Builder International Equity Fund
  • Fund Family Name
    BRIDGE BUILDER TRUST
  • Inception Date
    Jul 06, 2015
  • Shares Outstanding
    1284793730
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Nigel Bliss

Fund Description

The Fund invests, under normal market conditions, at least 80% of its net assets (plus the amount of borrowings for investment purposes) in equity securities and other instruments, such as derivative instruments (see below), with economic characteristics similar to equity securities, and certain investment companies that seek to track the performance of equity securities. The Fund primarily invests in non-U.S. companies. A non-U.S. company is a company economically tied to a country other than the United States. In determining whether a company is economically tied to a country other than the United States, the Adviser or a Sub-adviser will consider whether the company:
●
Is organized under the laws of a country other than the United States;
●
Has a class of securities whose principal securities market is in a country other than the United States;
●
Has its principal office in a country other than the United States;
●
Derives 50% or more of its total revenue or profit from goods produced, sales made or services provided in one or more countries other than the United States; or
●
Maintains 50% or more of its assets in one or more countries other than the United States.
Such a determination can also be based on the classifications assigned to a company by the Fund’s benchmark index provider.
The Fund may invest in companies of any capitalization. The Fund invests principally in equity securities issued by companies in developed countries but may also invest in companies in emerging markets or developing countries. The Fund may also invest in U.S. dollar-denominated securities issued by foreign entities, American Depositary Receipts (“ADRs”), or Global Depositary Receipts (“GDRs”). The Fund may also invest in other investment companies, including other open-end or closed-end investment companies and exchange-traded funds (“ETFs”), that have characteristics that are consistent with the Fund’s investment objective. The Fund may also invest a portion of its assets in securities of real estate investment trusts (“REITs”) that own and/or manage properties. From time to time, the Fund may also buy or sell derivatives, principally futures contracts for cash equitization purposes, and forward contracts and options for currency hedging. From time to time, the Fund may also focus its investments in a particular country or geographic region, such as the United Kingdom or Japan.
The Fund’s portfolio is constructed by combining the investment styles and strategies of multiple sub-advisers that have been or will be retained by the Adviser (each a “Sub-adviser”). Each Sub-adviser may use both its own proprietary and external research and securities selection processes to manage its allocated portion of the Fund’s assets.
Portfolio securities may be sold at any time. Sales may occur when a Sub-adviser seeks to take advantage of what a Sub-adviser considers to be a better investment opportunity, when a Sub-adviser believes the portfolio securities no longer represent relatively attractive investment opportunities, or when a Sub-adviser believes it would be appropriate to do so in order to readjust the asset allocation of its portion of the Fund’s investment portfolio.
The Adviser is responsible for determining the amount of Fund assets to allocate to each Sub-adviser. The Adviser allocates Fund assets to the following Sub-advisers: Baillie Gifford Overseas Limited (“Baillie Gifford Overseas”), BlackRock Investment Management, LLC (“BlackRock”), Marathon Asset Management Limited (“Marathon-London”), Mondrian Investment Partners Limited (“Mondrian”), Pzena Investment Management, LLC (“Pzena”), and WCM Investment Management (“WCM”). The Adviser may adjust allocations to the Sub-advisers at any time or make recommendations to the Board with respect to the hiring, termination, or replacement of a Sub-adviser. Below is a summary of each Sub-adviser’s principal investment strategies.
Baillie Gifford Overseas’ Principal Investment Strategies
In the Fund, Baillie Gifford Overseas primarily invests in non-U.S. dollar-denominated securities that derive a majority of their revenues or profits from a country or countries other than the United States. Baillie Gifford Overseas aims to add value through active management, by making long-term investments in well managed, quality businesses that enjoy sustainable competitive advantages in their marketplace.
BlackRock’s Principal Investment Strategies
BlackRock invests in international equity securities with the objective of approximating as closely as practicable the capitalization weighted total rates of return of the markets in certain countries for equity securities traded outside the United States, as represented by the MSCI EAFE Growth and MSCI EAFE Value Indices. The MSCI EAFE Growth and MSCI EAFE Value Indices measure the performance of large and mid-capitalization companies across developed markets, excluding the United States and Canada. The MSCI EAFE Growth Index focuses on companies exhibiting overall growth style characteristics, while the MSCI EAFE Value Index focuses on companies exhibiting overall value style characteristics.
Marathon-London’s Principal Investment Strategies
Marathon-London invests primarily in equity securities of non-U.S. issuers in developed and emerging market countries. In selecting investments for the Fund, Marathon-London employs a bottom-up, fundamental investment philosophy focused on identifying attractive long-term investment opportunities that can arise as a result of certain “capital cycle” conditions. Capital cycle investing is based on the concept that the prospect of high returns will attract excessive capital and competition and the prospect of low returns will excessively depress new capital investments and discourage competition. This “capital cycle” approach to investing guides Marathon-London to invest in stocks in industries where consolidation has occurred and return on investment is expected to rise and/or where barriers to entry exist that may allow elevated return on investment to persist for longer than the market expects. Marathon-London’s long-term approach is often considered to be contrarian and its portfolio is expected to have low turnover, will seek to be well-diversified and will have a bias towards the smaller capitalization segments of the market.
Mondrian’s Principal Investment Strategies
Mondrian invests primarily in equity securities of non-U.S. large capitalization issuers, including the securities of emerging market companies, that in Mondrian’s opinion, are undervalued at the time of purchase based on fundamental value analysis employed by Mondrian. Mondrian employs a long-only, value investment philosophy. Portfolio construction is primarily driven by detailed bottom-up stock selection, based on rigorous dividend discount valuation analysis.
Pzena’s Principal Investment Strategies
Pzena focuses on deep value investing, seeking to identify international securities that are trading at prices substantially below their intrinsic value but have solid long-term prospects. Pzena may also invest in emerging markets securities. Pzena performs intensive fundamental research using a bottom-up security selection process.
WCM’s Principal Investment Strategies
WCM uses a bottom-up approach that seeks to identify companies with attractive fundamentals, such as long-term growth in revenue and earnings, and that show a high probability for superior future growth. WCM’s investment process focuses on seeking industry leading companies that WCM believes possess growing competitive advantages; corporate cultures emphasizing strong, quality, and experienced management; low or no debt; and attractive relative valuations. WCM also considers other factors in selecting securities, including political risk, monetary policy risk, and regulatory risk.
Although WCM may invest in securities of companies of any size, WCM will generally invest in large, established multinational companies. WCM generally will invest in securities of companies located in different regions and in at least three different countries. From time to time, however, WCM may have a significant portion of its allocated assets invested in the securities of companies in one or a few countries or regions.
Read More

BBIEX - Performance

Return Ranking - Trailing

Period BBIEX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -6.2% 27.2% 62.24%
1 Yr 5.8% -6.4% 19.4% 59.26%
3 Yr -2.9%* -17.2% 45.3% 92.01%
5 Yr 4.0%* -34.5% 75.1% 83.61%
10 Yr N/A* -0.6% 16.3% N/A

* Annualized

Return Ranking - Calendar

Period BBIEX Return Category Return Low Category Return High Rank in Category (%)
2023 14.5% -7.3% 22.0% 34.37%
2022 -19.9% -43.6% 71.3% 73.64%
2021 0.1% -28.5% 18.9% 74.92%
2020 11.4% -90.1% 992.1% 32.86%
2019 20.4% -1.9% 38.8% 39.63%

Total Return Ranking - Trailing

Period BBIEX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -6.2% 27.2% 62.24%
1 Yr 5.8% -6.4% 19.4% 59.26%
3 Yr -2.9%* -17.2% 45.3% 92.01%
5 Yr 4.0%* -34.5% 75.1% 83.61%
10 Yr N/A* -0.6% 16.3% N/A

* Annualized

Total Return Ranking - Calendar

Period BBIEX Return Category Return Low Category Return High Rank in Category (%)
2023 17.3% 3.2% 41.4% 36.59%
2022 -18.0% -43.6% 144.8% 76.51%
2021 4.5% -22.6% 56.0% 93.08%
2020 13.5% -89.7% 1010.8% 29.23%
2019 23.1% 4.3% 38.8% 40.13%

NAV & Total Return History

BBIEX - Holdings

Concentration Analysis

BBIEX Category Low Category High BBIEX % Rank
Net Assets 18.5 B 2.56 M 425 B 6.71%
Number of Holdings 982 1 10801 7.47%
Net Assets in Top 10 2.22 B 0 41 B 12.59%
Weighting of Top 10 12.36% 2.7% 112.8% 92.47%

Top 10 Holdings

  1. NOVO NORDISK A/S-B /DKK/ 0.00000000 1.64%
  2. ENEL SPA /EUR/ 0.00000000 1.35%
  3. GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND CL FST 0.00000000 1.31%
  4. UNITED OVERSEAS BK LTD ORD /SGD/ 0.00000000 1.28%
  5. BP PLC /GBP/ 0.00000000 1.22%
  6. SANOFI /EUR/ 0.00000000 1.21%
  7. KONINKLIJKE PHILIPS NV /EUR/ 0.00000000 1.19%
  8. MERCADOLIBRE INC 0.00000000 1.15%
  9. CANADIAN PACIFIC KANSAS CITY 0.00000000 1.02%
  10. LLOYDS BANKING GROUP PLC /GBP/ 0.00000000 1.00%

Asset Allocation

Weighting Return Low Return High BBIEX % Rank
Stocks 		99.54% 0.00% 122.60% 6.44%
Cash 		0.37% -22.43% 100.00% 89.75%
Other 		0.08% -2.97% 43.01% 27.67%
Preferred Stocks 		0.00% -0.01% 7.80% 49.63%
Convertible Bonds 		0.00% 0.00% 4.18% 95.15%
Bonds 		0.00% -0.68% 71.30% 95.75%

Stock Sector Breakdown

Weighting Return Low Return High BBIEX % Rank
Industrials 		15.81% 5.17% 99.49% 31.03%
Financial Services 		15.35% 0.00% 47.75% 78.11%
Consumer Cyclical 		14.36% 0.00% 36.36% 10.79%
Healthcare 		14.35% 0.00% 21.01% 18.74%
Technology 		11.83% 0.00% 36.32% 47.38%
Consumer Defense 		8.09% 0.00% 32.29% 73.16%
Communication Services 		6.87% 0.00% 21.69% 33.13%
Basic Materials 		5.20% 0.00% 23.86% 83.51%
Energy 		4.81% 0.00% 16.89% 49.93%
Utilities 		3.15% 0.00% 13.68% 41.38%
Real Estate 		0.19% 0.00% 14.59% 73.76%

Stock Geographic Breakdown

Weighting Return Low Return High BBIEX % Rank
Non US 		88.06% 0.00% 121.07% 61.79%
US 		11.48% 0.00% 103.55% 25.62%

BBIEX - Expenses

Operational Fees

BBIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.63% 0.01% 18.22% 79.62%
Management Fee 0.60% 0.00% 1.65% 43.55%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 1.00% N/A

Sales Fees

BBIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BBIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

BBIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 52.00% 2.00% 247.00% 70.44%

BBIEX - Distributions

Dividend Yield Analysis

BBIEX Category Low Category High BBIEX % Rank
Dividend Yield 2.44% 0.00% 25.55% 43.88%

Dividend Distribution Analysis

BBIEX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

BBIEX Category Low Category High BBIEX % Rank
Net Income Ratio 2.21% -0.93% 6.38% 28.64%

Capital Gain Distribution Analysis

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

Distributions History

View More +

BBIEX - Fund Manager Analysis

Managers

Nigel Bliss

Start Date

Tenure

Tenure Rank

Jul 06, 2015

6.91

6.9%

Mr. Bliss is a graduate of the University of Manchester, holds the ASIP designation and is a member of the CFA Institute and the CFA Society of the UK. He commenced his career at Cazenove & Co. in 1993 and moved to join Mondrian in 1995. Mr. Bliss is a senior portfolio manager in the Non-US Equity Team and a member of Mondrian’s Non-US Equity Strategy Committee. He has had significant experience analyzing securities in the Pacific Basin region and in the global materials, utilities, property and industrials sectors. In recent years Mr. Bliss has taken responsibility for leading coverage of securities listed in the UK and Scandinavian markets whilst still maintaining his sector specialization.

Paul Black

Start Date

Tenure

Tenure Rank

Jul 06, 2015

6.91

6.9%

Paul joined WCM in 1989; his primary responsibility is portfolio management for our global, fundamental growth strategies. Since the start of his investment career in 1983, Paul’s experience includes positions as Portfolio Manager with Wells Fargo Private Banking Group, and at Bank of America. Paul earned his B.S. in Finance from California State University, San Diego.

Joseph Faraday

Start Date

Tenure

Tenure Rank

Jul 06, 2015

6.91

6.9%

Joe Faraday, CFA, Portfolio Manager, joined Baillie Gifford Overseas Limited in 2002. Mr. Faraday has worked as an investment manager on the European, North American, Developed Asia, and Emerging Markets Equity teams. He has been a member of the Portfolio Construction Group since 2007.

Steven Dutaut

Start Date

Tenure

Tenure Rank

Apr 18, 2016

6.12

6.1%

Mr. Dutaut is a Senior Portfolio Manager and member of the International Equity Strategy Committee at Mondrian and has been with the firm since 2007. Prior to joining Mondrian, Mr. Dutaut was an investment analyst for Baillie Gifford Overseas and began his career in Bank of America’s investment banking division. Mr. Dutaut is a CFA Charterholder, and a member of the CFA Institute and the CFA Society of the UK.

Allison Fisch

Start Date

Tenure

Tenure Rank

Nov 17, 2016

5.54

5.5%

Allison Fisch, Principal and Portfolio Manager. Ms. Fisch is a co-portfolio manager for the International and Emerging Markets strategies, along with the Global Best Ideas service. Ms. Fisch became a member of the firm in 2001 and helped to launch the Emerging Markets strategies in 2008, on which she has been a co-portfolio manager since inception. She joined the International portfolio management team in 2016 and has co-managed the International Small Cap Value strategy since its inception in 2017. Since 2017, she has overseen the Global Best Idea service. Prior to joining Pzena Investment Management, Ms. Fisch was a business analyst at McKinsey & Company. She earned a B.A. summa cum laude in Psychology and a minor in Drama from Dartmouth College.

Caroline Cai

Start Date

Tenure

Tenure Rank

Nov 17, 2016

5.54

5.5%

Caroline Cai, CFA, Managing Principal, Portfolio Manager, and member of the firm’s Executive Committee. Ms. Cai is a co-portfolio manager for the Global, International, European and Emerging Markets strategies, and the Financial Opportunities service. Ms. Cai became a member of the firm in 2004. Prior to joining Pzena Investment Management, Ms. Cai was a senior analyst at AllianceBernstein LLP, and a business analyst at McKinsey & Company. She earned a B.A. summa cum laude in Math and Economics from Bryn Mawr College. Ms. Cai holds the Chartered Financial Analyst® designation.

William Arah

Start Date

Tenure

Tenure Rank

Jun 02, 2021

0.99

1.0%

William (Bill) is a co-founder of Marathon and has been a Portfolio Manager of Marathon's Japanese equities since 1987. Bill is a Director of the company and sits on the Board. He is also a member of Marathon’s Partners Group. He has worked in the investment management industry since 1982. Bill holds an M.A. from Oxford University.

Neil Ostrer

Start Date

Tenure

Tenure Rank

Jun 02, 2021

0.99

1.0%

Neil is a co-founder of Marathon and has been a Portfolio Manager of Marathon's European equities since inception of the firm in 1986. Neil is also a Director of Marathon and sits on the Board. He is also a member of Marathon’s Partners Group. He has worked in the investment management industry since 1981 and holds an M.A. from Cambridge University.

Nick Longhurst

Start Date

Tenure

Tenure Rank

Jun 02, 2021

0.99

1.0%

"Nick manages European equities across Marathon's International and European equity portfolios and is a member of Marathon’s Partners Group. He joined Marathon in 2003 as a European equity analyst and assumed portfolio management responsibilities of European equities in 2010. Nick has worked in the investment management industry since 1994. Previous roles included that of investment analyst at American Express Asset Management and Schroders. Nick holds an M.A. from Cambridge University."

Charles Carter

Start Date

Tenure

Tenure Rank

Jun 02, 2021

0.99

1.0%

Charles manages European equities across Marathon's Global, International and European equity portfolios. He joined Marathon as a European equity analyst in 1998 and assumed portfolio management responsibilities of European equities in 2007. In 2018 Charles joined the firm's Board of Directors and was appointed Managing Director of the business in 2019. He is also a member of Marathon’s Partners Group. Prior to joining Marathon, Charles was part of Olivetti's internal M&A team in Italy involved in the disposal programme to restructure Olivetti's business. Prior to that, Charles worked for Lazard Brothers initially in the Corporate Strategy group and latterly in the Corporate Finance division. Charles holds an M.A. from Oxford University and an MBA from INSEAD.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.35 6.25 3.25

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