USGDX: Morgan Stanley US Government Secs I

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USGDX Morgan Stanley US Government Secs I


Profile

USGDX - Profile

Vitals

  • YTD Return 3.7%
  • 3 Yr Annualized Return 1.1%
  • 5 Yr Annualized Return 0.6%
  • Net Assets $405 M
  • Holdings in Top 10 35.7%

52 WEEK LOW AND HIGH

$9.01
$8.64
$9.14

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.74%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 167.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $5,000,000
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 3.7%
  • 3 Yr Annualized Total Return 1.1%
  • 5 Yr Annualized Total Return 0.6%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 3.35%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Morgan Stanley U.S. Government Securities Trust
  • Fund Family Name
    Morgan Stanley
  • Inception Date
    Jul 28, 1997
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Neil Stone

Fund Description

The fund normally invests at least 80% of its net assets in a portfolio of U.S. government securities. In making investment decisions, the Adviser considers economic developments, interest rate trends and other factors. It may invest in to-be-announced pass-through mortgage securities, which settle on a delayed delivery basis ("TBAs"). The fund may also invest in asset-backed securities. It may invest in restricted and illiquid securities.


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Categories

Performance

USGDX - Performance

Return Ranking - Trailing

Period USGDX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -14.8% 7.7% 55.39%
1 Yr 4.2% -16.7% 9.4% 60.82%
3 Yr 1.1%* -8.4% 3.2% 68.55%
5 Yr 0.6%* -6.9% 25.4% 64.96%
10 Yr 0.4%* -4.7% 11.6% 40.00%

* Annualized

Return Ranking - Calendar

Period USGDX Return Category Return Low Category Return High Rank in Category (%)
2019 3.3% -1.3% 13.9% 84.90%
2018 -3.0% -10.3% 2.7% 33.94%
2017 -0.2% -2.2% 8.1% 91.39%
2016 -0.2% -22.1% 192.8% 74.10%
2015 -2.1% -12.2% -0.4% 11.54%

Total Return Ranking - Trailing

Period USGDX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -14.8% 7.7% 55.39%
1 Yr 4.2% -16.7% 9.4% 60.82%
3 Yr 1.1%* -8.4% 4.3% 76.10%
5 Yr 0.6%* -6.9% 28.3% 72.99%
10 Yr 0.4%* -4.7% 16.2% 70.00%

* Annualized

Total Return Ranking - Calendar

Period USGDX Return Category Return Low Category Return High Rank in Category (%)
2019 3.3% -1.2% 13.9% 84.90%
2018 -3.0% -10.3% 3.9% 50.91%
2017 -0.2% -2.2% 8.1% 92.05%
2016 -0.2% -22.1% 204.3% 82.01%
2015 -2.1% -12.2% 3.7% 40.00%

NAV & Total Return History


Holdings

USGDX - Holdings

Concentration Analysis

USGDX Category Low Category High USGDX % Rank
Net Assets 405 M 3.11 M 68.9 B 48.13%
Number of Holdings 488 5 7322 56.40%
Net Assets in Top 10 91.3 M -1.28 B 27.3 B 48.34%
Weighting of Top 10 35.73% 6.0% 99.8% 43.37%

Top 10 Holdings

  1. 5 Year Treasury Note Future June 20 8.99%
  2. Ultra 10 Year US Treasury Note Future June 20 6.87%
  3. Israel (State Of) 5.5% 3.97%
  4. Tennessee Valley Authority 7.12% 2.92%
  5. Federal National Mortgage Association 2.5% 2.62%
  6. Tennessee Valley Authority 5.25% 2.56%
  7. United States Treasury Notes 0.88% 2.27%
  8. MISSOURI ST HWYS & TRANS COMMN ST RD REV 5.44% 1.89%
  9. LOS ANGELES CALIF UNI SCH DIST 5.75% 1.85%
  10. Private Export Funding Corp. 4.3% 1.78%

Asset Allocation

Weighting Return Low Return High USGDX % Rank
Bonds
94.78% -66.02% 336.40% 50.94%
Cash
5.22% -220.82% 170.94% 34.60%
Stocks
0.00% 0.00% 14.76% 84.43%
Preferred Stocks
0.00% 0.00% 6.96% 87.20%
Other
0.00% -15.58% 13.71% 80.09%
Convertible Bonds
0.00% 0.00% 4.35% 96.21%

Bond Sector Breakdown

Weighting Return Low Return High USGDX % Rank
Securitized
53.54% 0.00% 92.21% 9.48%
Government
29.36% 0.00% 88.64% 27.96%
Municipal
10.26% 0.00% 28.12% 6.64%
Cash & Equivalents
4.89% 0.00% 59.28% 46.92%
Corporate
1.96% 0.00% 83.87% 92.89%
Derivative
0.00% 0.00% 30.18% 92.89%

Bond Geographic Breakdown

Weighting Return Low Return High USGDX % Rank
US
94.01% -66.20% 314.24% 24.17%
Non US
0.77% -19.12% 66.63% 90.52%

Expenses

USGDX - Expenses

Operational Fees

USGDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.74% 0.02% 18.96% 70.30%
Management Fee 0.42% 0.00% 0.96% 60.56%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.03% 0.50% 33.70%

Sales Fees

USGDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 4.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

USGDX 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.

USGDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 167.00% 7.12% 438.00% 56.11%

Distributions

USGDX - Distributions

Dividend Yield Analysis

USGDX Category Low Category High USGDX % Rank
Dividend Yield 0.00% 0.00% 1.52% 84.11%

Dividend Distribution Analysis

USGDX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

USGDX Category Low Category High USGDX % Rank
Net Income Ratio 3.35% -0.35% 10.54% 15.76%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

USGDX - Fund Manager Analysis

Managers

Neil Stone


Start Date

Tenure

Tenure Rank

Jan 17, 2012

8.46

8.5%

Neil is a member of the Fixed Income team. He joined Morgan Stanley Investment Management in 1995 and has 31 years of investment experience. Previously, he served as a vice president in mortgage research at Morgan Stanley. Prior to joining the firm, Neil was a director of fixed income research at Credit Suisse First Boston. He received a B.S. in accounting and decision sciences and an M.B.A. in social systems sciences from the Wharton School of the University of Pennsylvania.

James Caron


Start Date

Tenure

Tenure Rank

Jan 16, 2013

7.46

7.5%

Jim is a portfolio manager and senior member of the MSIM Global Fixed Income team and a member of the Asset Allocation Committee focusing on macro strategies. He joined Morgan Stanley in 2006 and has 24 years of investment experience. Prior to this role, Jim held the position of global head of interest rates, foreign exchange and emerging markets strategy with Morgan Stanley Research. He authored two interest rate publications, the monthly Global Perspectives and the weekly Interest Rate Strategist. Previously, he was a director at Merrill Lynch where he headed the U.S. interest rate strategy group. Prior to that, Jim held various trading positions. He headed the U.S. options trading desk at Sanwa Bank, was a proprietary trader at Tokai Securities and traded U.S. Treasuries at JP Morgan. Jim received a B.A. in physics from Bowdoin College, a B.S. in aeronautical engineering from the California Institute of Technology and an M.B.A in finance from New York University, Stern School of Business.

Matthew Dunning


Start Date

Tenure

Tenure Rank

Oct 03, 2014

5.75

5.8%

Matt is a portfolio manager on the Global Fixed Income team. He re-joined Morgan Stanley in 2014 and has 22 years of investment experience. Prior to re-joining the firm, Matt managed the Municipal Valuation Rates group and was a senior taxable municipal bond analyst for the BVAL group at Bloomberg. Previously, he worked for the Customized Fixed Income group at MSIM (formerly Miller, Anderson & Sherred) in trading and portfolio management roles. Matt received a B.A. in business management and business administration from Lycoming College and an M.B.A. in financial institutions management from St. Joseph's University

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 27.51 5.25 5.76