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OSDIX

Ultra-Short Duration Fund

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Overview

The Strategy typically invests in short-term investment-grade debt securities.

Inception Date
November 28, 2014
Investment Style
Ultra Short Bond
Fund Index
BofA/ML 3-month US T-Bill
CUSIP
68385K305
NAV
  • A
(as of 01/18/2018)
$5.07
Total Assets
(as of 12/31/2017)
$902.00 MM
Gross Expense Ratio
(as of 12/31/2017)
0.36%
Net Expense Ratio
(as of 12/31/2017)
0.25%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2017
as of 12/31/2017

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
1 mo 3 mo ytd as of 2017-12-31
  • B
1 yr 3 yr since inception
Ultra-Short Duration Fund (NAV)
0.12% 0.36% 1.36% 1.36% 1.43% 1.37%
BofA/ML 3-month US T-Bill
0.11% 0.28% 0.86% 0.86% 0.41% 0.22%
Cumulative
Annualized
1 mo 3 mo ytd as of 2017-12-31
  • B
1 yr 3 yr since inception
Ultra-Short Duration Fund (NAV)
0.12% 0.36% 1.36% 1.36% 1.43% 1.37%
BofA/ML 3-month US T-Bill
0.11% 0.28% 0.86% 0.86% 0.41% 0.22%
Gross Expense Ratio: 0.36% | Net Expense Ratio: 0.25%

Year Ultra-Short Duration Fund BofA/ML 3-month US T-Bill
2015 0.49% 0.05%
2016 2.45% 0.33%
2017 1.36% 0.86%

Time Period
Date Ultra-Short Duration Fund
11/28/2014 0.00
11/30/2014 0.00
12/31/2014 -0.06
1/31/2015 0.06
2/28/2015 0.09
3/31/2015 0.12
4/30/2015 0.16
5/31/2015 0.20
6/30/2015 0.14
7/31/2015 0.19
8/31/2015 0.15
9/30/2015 0.40
10/31/2015 0.46
11/30/2015 0.53
12/31/2015 0.43
1/31/2016 0.51
2/29/2016 0.59
3/31/2016 0.70
4/30/2016 0.98
5/31/2016 1.07
6/30/2016 1.15
7/31/2016 1.24
8/31/2016 1.33
9/30/2016 1.41
10/31/2016 2.70
11/30/2016 2.79
12/31/2016 2.89
1/31/2017 2.99
2/28/2017 3.09
3/31/2017 3.20
4/30/2017 3.31
5/31/2017 3.42
6/30/2017 3.53
7/31/2017 3.65
8/31/2017 3.79
9/30/2017 3.91
10/31/2017 4.04
11/30/2017 4.16
12/31/2017 4.29
Date Dividends
12/31/2014 0.0026
1/30/2015 0.0028
2/27/2015 0.0027
3/31/2015 0.0034
4/30/2015 0.0036
5/29/2015 0.0039
6/30/2015 0.0041
7/31/2015 0.0051
8/31/2015 0.0028
9/30/2015 0.0027
10/30/2015 0.0031
11/30/2015 0.0031
12/31/2015 0.0051
1/29/2016 0.004
2/29/2016 0.0039
3/31/2016 0.0055
4/29/2016 0.0042
5/31/2016 0.0043
6/30/2016 0.0041
7/29/2016 0.0043
8/31/2016 0.0042
9/30/2016 0.004
10/31/2016 0.0041
11/30/2016 0.0042
12/30/2016 0.005
1/31/2017 0.0051
2/28/2017 0.0048
3/31/2017 0.0054
4/28/2017 0.0053
5/31/2017 0.0055
6/30/2017 0.0055
7/31/2017 0.0059
8/31/2017 0.0067
9/29/2017 0.0059
10/31/2017 0.0062
11/30/2017 0.0061
12/29/2017 0.0061

There is no guarantee of the payment of any dividend or other distributions at any level.

$ per share as of 01/18/2018

Date 2013 2014 2015 2016 2017
Short Term 0.0048
Long Term 0.0002
Total Amount of Distribution 0.0050
Record Date 12/31/14
Ex Div Date 12/31/14
Pay Date 12/31/14

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Asset Allocations

(138.3% of assets as of 12/31/2017)


Portfolio Holdings Breakdown

Country
Developed Markets
Credit Rating Allocation
Country Ultra-Short Duration Fund BofA/ML 3-month US T-Bill Overweight / Underweight
United States 55.7% 100.0% -44.3%
Canada 9.3% - -
United Kingdom 8.4% - -
Japan 6.0% - -
Netherlands 3.7% - -
Germany 3.3% - -
Sweden 3.2% - -
France 3.0% - -
Switzerland 2.4% - -
Australia 1.8% - -
Italy 1.8% - -
Norway 0.8% - -
Denmark 0.6% - -
Developed Markets Ultra-Short Duration Fund BofA/ML 3-month US T-Bill Overweight / Underweight
Americas 65.0% 100.0% -35.0%
Europe 27.1% - -
Asia Pacific 7.8% - -
Credit Rating Allocation Ultra-Short Duration Fund BofA/ML 3-month US T-Bill Overweight / Underweight
A 42.7% - -
BBB 26.2% - -
AA 19.2% - -
Unrated 9.1% - -
AAA 2.6% - -
Agency 0.2% - -
Analytics
(As of 12/31/2017)

Morningstar 12/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
141
Category
Ultrashort Bond
Performance Statistics
3Y
Alpha
0.99
Beta
0.20
Information Ratio
1.39
R-Squared
0.01
Sharpe Ratio
1.35
Standard Deviation
0.73
Upside Capture
333.19
Downside Capture
-947.83
Sortino Ratio
3.49
Win Ratio
92.00
Loss Ratio
8.00
Margin of Outperformance
0.10
Margin of Underperformance
-0.09
Tracking Error
0.73
Dividends
  • C
Est. Frequency
Monthly
Last Pay Date
12/29/2017
Per Share ($)
$0.0061
12-Month Distribution ($)
$0.0685
Portfolio Characteristics
Fund
Fund Index
Yield to Maturity
1.77%
1.38%
Yield to Worst
1.77%
-
Average Effective Maturity
0.72 yrs
0.00 yrs
Current Duration
0.40 yrs
0.20 yrs
Average Coupon
1.91%
-
Effective Coupon
1.91%
-
Convexity
0.0
-
Option Adjusted Spread
44.97 bps
0.00 bps
Yields
Dividend Yield (w/o sales charge)
1.43%
Standardized Yield
1.54%
Distribution Sources
  • C
Net Income
98.90%
Net Profit from Sale
0.00%
Other Capital Sources
1.10%
Documents
  1. 1. Special Risks Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Asset-backed securities are subject to prepayment risk. The Fund may invest 25% or more of its assets in securities issued by companies in the financial services sector which may be susceptible to economic and regulatory events, and increased volatility. Diversification does not guarantee profit or protect against loss.
  2. 2. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million. Class I shares are sold at net asset value without a sales charge. Please see Fund prospectuses for additional information.
  3. 3. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  4. 4. The dividend (or distribution) yield is based on the pay date immediately preceding the nearest month-end or quarter-end. The dividend yield for each share class is calculated by annualizing the dividend distributed by the class on that date and dividing that figure by the class's net asset value on that date. For the Class A dividend yield with sales charge, the annualized Class A dividend distribution is divided by the Class A maximum offering price on that date. Each result is compounded semiannually and annualized. Falling share prices artificially increase yields.
  5. 5. Standardized yield for each share class is based on an SEC standardized formula designed to approximate a Fund's annualized hypothetical current income from securities less expenses for the 30-day period ending and including the most recent month-end or quarter-end and either that date's maximum offering price (Class A shares) or net asset value (for other share classes). The month-end figure is typically calculated on the fifth business day of the next month. The result is compounded semiannually and annualized. Falling share prices artificially increase yields.
  6. 6. On August 7, 2015, the Fund underwent a two for one share split, which resulted in twice as many shares of the Fund outstanding and a lower share price. The Standardized yield figure reflects the average number of shares for the period adjusted for the share split, which is a more accurate reflection of the standardized yield for the Fund. Without such adjustments, the standardized yields for Class Y and I would have been 072% and 0.71%, respectively.
  7. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  8. B. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  9. C. There is no guarantee of the payment of any dividend or other distributions at any level.
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