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Trending ETFs

Name

As of 06/23/2023

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

$8.67

$404 M

3.18%

$0.28

0.47%

Vitals

YTD Return

-0.5%

1 yr return

-5.4%

3 Yr Avg Return

-6.2%

5 Yr Avg Return

-2.4%

Net Assets

$404 M

Holdings in Top 10

55.6%

52 WEEK LOW AND HIGH

$8.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.47%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 130.00%

Redemption Fee 1.00%


Min Investment

Standard (Taxable)

$100

IRA

$100


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/23/2023

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

$8.67

$404 M

3.18%

$0.28

0.47%

BIATX - Profile

Distributions

  • YTD Total Return -0.5%
  • 3 Yr Annualized Total Return -6.2%
  • 5 Yr Annualized Total Return -2.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.32%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Brown Advisory Total Return Fund
  • Fund Family Name
    Brown Advisory Funds
  • Inception Date
    Oct 30, 2014
  • Shares Outstanding
    768871
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Colby Stilson

Fund Description

Under normal conditions, Brown Advisory LLC (the “Adviser”) seeks to achieve the Fund’s investment objective by investing at least 80% of the value of its net assets (plus any borrowings for investment purposes) in fixed income securities such as U.S Government securities, corporate fixed income securities (including junk bonds), mortgage-backed and asset-backed securities. The fixed income securities in which the Fund may invest may also include municipal securities issued by states, U.S. territories, and possessions, general obligation securities, revenue securities and securities issued by foreign entities including foreign sponsored governmental agencies. The foregoing may include municipal lease obligations and insured municipal securities. The Fund may also invest in other investment companies that invest in similar fixed income securities and the Fund may count such holdings towards the Fund’s 80% investment policy. The Fund may also engage in “To Be Announced” transactions.
The Fund invests in fixed income securities that primarily have a maturity that is between 0 and 30 years and are rated in the top four rating categories of a Nationally Recognized Statistical Rating Organization, or unrated and deemed to be of comparable quality by the Adviser.  Under normal circumstances, the Fund’s portfolio will have an average dollar weighted maturity between 6 and 11 years and an average duration of 3 to 7 years.  Duration is a measurement of price sensitivity to interest rate changes.
The Fund may invest up to 20% of its assets in high-yield securities, which are speculative in nature.The Fund may also utilize derivatives including options, futures, currency forwards, interest rate swaps and credit default swaps.These investments will typically be made for investment purposes consistent with the Fund’s objective and may also be used to mitigate or hedge risks within the portfolio or for the temporary investment of cash balances. These positions may also be used to manage interest rate risk or to create synthetic exposure to particular credits.Investments in derivatives may be counted towards the Fund’s 80% investment policy if they have economic characteristics similar to the other investments that are included in the Fund’s 80% investment policy.
The Fund intends to use the mark-to-market value of such derivatives for purposes of complying with the Fund’s 80% investment policy. The Fund may invest in securities denominated in non-U.S. currencies. The Fund may also invest in bank loans.
The Adviser may sell an investment or reduce its position if:
Revised economic forecasts or interest rate outlook requires a repositioning of the portfolio;
The investment subsequently fails to meet the investment criteria;
Changing credit profile and/or conditions result in an unacceptable risk condition;
A more attractive investment is found; or
The Adviser believes that the investment has reached its appreciation potential.
In order to respond to adverse market, economic, political, or other conditions, the Fund may assume a temporary defensive position that is inconsistent with its investment objective and principal investment strategy and invest without limit in cash and prime quality cash equivalents such as prime commercial paper and other money market instruments.  A defensive position, taken at the wrong time, may have an adverse impact on the Fund’s performance.  The Fund may be unable to achieve its investment objective during the employment of a temporary defensive measure.
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BIATX - Performance

Return Ranking - Trailing

Period BIATX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -4.3% 3.9% 87.01%
1 Yr -5.4% -15.1% 165.8% 74.88%
3 Yr -6.2%* -11.6% 48.2% 34.58%
5 Yr -2.4%* -9.9% 55.7% 56.00%
10 Yr N/A* -7.4% 12.7% N/A

* Annualized

Return Ranking - Calendar

Period BIATX Return Category Return Low Category Return High Rank in Category (%)
2023 -15.2% -34.7% 131.9% 26.76%
2022 -1.8% -6.0% 15.7% 55.05%
2021 1.7% -9.6% 118.7% 32.00%
2020 1.1% -0.4% 5.8% 81.12%
2019 -0.7% -2.2% 3.3% 59.55%

Total Return Ranking - Trailing

Period BIATX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.5% -15.5% 3.9% 83.67%
1 Yr -5.4% -16.1% 165.8% 71.35%
3 Yr -6.2%* -11.6% 48.2% 34.27%
5 Yr -2.0%* -9.9% 55.7% 33.94%
10 Yr N/A* -7.4% 13.5% N/A

* Annualized

Total Return Ranking - Calendar

Period BIATX Return Category Return Low Category Return High Rank in Category (%)
2023 -15.2% -34.7% 131.9% 26.66%
2022 -1.8% -6.0% 15.7% 54.94%
2021 1.7% -9.6% 118.7% 32.00%
2020 1.2% -0.4% 5.8% 73.98%
2019 -0.1% -2.2% 3.3% 11.08%

NAV & Total Return History


BIATX - Holdings

Concentration Analysis

BIATX Category Low Category High BIATX % Rank
Net Assets 404 M 2.88 M 287 B 69.87%
Number of Holdings 206 1 17234 83.35%
Net Assets in Top 10 122 M -106 M 27.6 B 65.45%
Weighting of Top 10 55.61% 3.7% 123.9% 11.00%

Top 10 Holdings

  1. Ultra US Treasury Bond Future Mar 22 15.86%
  2. Ultra US Treasury Bond Future Mar 22 15.86%
  3. Ultra US Treasury Bond Future Mar 22 15.86%
  4. Ultra US Treasury Bond Future Mar 22 15.86%
  5. Ultra US Treasury Bond Future Mar 22 15.86%
  6. Ultra US Treasury Bond Future Mar 22 15.86%
  7. Ultra US Treasury Bond Future Mar 22 15.86%
  8. Ultra US Treasury Bond Future Mar 22 15.86%
  9. Ultra US Treasury Bond Future Mar 22 15.86%
  10. Ultra US Treasury Bond Future Mar 22 15.86%

Asset Allocation

Weighting Return Low Return High BIATX % Rank
Bonds
102.18% 3.97% 268.18% 13.81%
Convertible Bonds
0.96% 0.00% 7.93% 67.85%
Stocks
0.00% -0.55% 24.74% 77.28%
Preferred Stocks
0.00% 0.00% 77.13% 79.21%
Other
0.00% -13.23% 4.55% 67.18%
Cash
-3.14% -181.13% 95.99% 85.66%

Bond Sector Breakdown

Weighting Return Low Return High BIATX % Rank
Securitized
41.42% 0.00% 98.40% 20.98%
Corporate
26.85% 0.00% 100.00% 61.31%
Government
26.57% 0.00% 86.23% 44.66%
Cash & Equivalents
4.86% 0.00% 95.99% 45.14%
Municipal
0.30% 0.00% 100.00% 56.59%
Derivative
0.00% 0.00% 25.16% 79.31%

Bond Geographic Breakdown

Weighting Return Low Return High BIATX % Rank
US
92.28% 3.63% 210.09% 22.52%
Non US
9.90% -6.54% 58.09% 43.50%

BIATX - Expenses

Operational Fees

BIATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.47% 0.01% 20.64% 76.48%
Management Fee 0.30% 0.00% 1.76% 32.24%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

BIATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BIATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 85.71%

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.

BIATX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 130.00% 2.00% 493.39% 50.57%

BIATX - Distributions

Dividend Yield Analysis

BIATX Category Low Category High BIATX % Rank
Dividend Yield 3.18% 0.00% 10.75% 85.18%

Dividend Distribution Analysis

BIATX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

BIATX Category Low Category High BIATX % Rank
Net Income Ratio 1.32% -1.28% 8.97% 73.29%

Capital Gain Distribution Analysis

BIATX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

Distributions History

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BIATX - Fund Manager Analysis

Managers

Colby Stilson


Start Date

Tenure

Tenure Rank

Apr 22, 2022

0.11

0.1%

Colby Stilson is a partner and portfolio manager in the global sustainable fixed income team. He joined Brown Advisory after three years as an investor and operator within private markets, most recently as a partner and executive at TIFIN Group. Prior to that, Colby spent 18 years as an investor in public markets managing credit portfolios and covering industries including TMT, financials, energy, industrials, and sovereigns. His most recent role was at ArrowMark Partners where his responsibilities included research, trading, and portfolio management. He helped lead efforts to build, launch, and manage a corporate credit research platform. Prior to joining ArrowMark, in 2013, Colby helped lead efforts to launch a global fixed income business at Janus Henderson Investors (formerly known as Janus Capital) in London, UK. The first half of his career at Janus was primarily focused on credit and equity research. He began his career within telecommunications M&A at Lumen (formerly known as Level 3 Communications).

Christopher Diaz


Start Date

Tenure

Tenure Rank

Apr 22, 2022

0.11

0.1%

Chris Diaz is a partner and portfolio manager in the global sustainable fixed income team. Prior to joining Brown Advisory in January 2021, Chris was Co-Head of Global Bonds at Janus Henderson Investors, where he managed a team of portfolio managers and analysts across three continents. He was the Lead Manager of the Janus Henderson Global Bond Fund and all related portfolios as well as the Janus Henderson Horizon Total Return Bond Fund. Chris was responsible for developing the global investment process and setting currency, interest rate and asset allocation policy for Janus Henderson global multi-sector portfolios. Prior to joining Janus Capital in 2011, Chris was the Head of Global Rates at ING Investment Management where he was responsible for global macro strategies and oversaw the interest rate, currency and derivative trading desk. He was the Co-Portfolio Manager of the ING Global Bond Fund and all related portfolios. He began his career at SunTrust Equitable Securities in 1997, where he served as a fixed income portfolio analyst. Chris received his Bachelor of Science degree in business administration from the University of South Carolina and earned an MBA with a concentration in finance from Emory University, Goizueta Business School.

Ryan Myerberg


Start Date

Tenure

Tenure Rank

Apr 22, 2022

0.11

0.1%

Ryan Myerberg is a partner and portfolio manager in the global sustainable fixed income team. Prior to joining Brown Advisory in March 2021, Ryan was the Head and CIO of Absolute Return Fixed Income at Amundi Asset Management, leading a team of investors across four global investment hubs. He spent the previous 9 years at Janus Henderson Investors where he was responsible for launching Janus’ global fixed income platform in London in 2010, and serving as a portfolio manager across a number of global macro and global credit strategies. Prior to his move to London in 2008 with BlueMountain Capital Management, Ryan spent 6 years in New York, working at both Morgan Stanley and Lehman Brothers. Ryan received his Bachelor of Arts degree in foreign affairs from the University of Virginia in 2002.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.82 1.16