Past performance is not a guarantee of future results. Composite results reflect the reinvestment of dividends, capital gains and other earnings when appropriate. Net returns are calculated by reducing the gross returns by the highest stated fee in the composite fee schedule. Only transaction costs are deducted from gross of fees returns. Prior to 30 September 2022, actual fees were used in calculating net returns. All net returns were changed retroactively to reflect the highest fee in the composite fee schedule. To view a GIPS Report for all composites, click here.
Calendar Year Returns1 (%)
Statistics
Portfolio Characteristics
As of
30 Sep 2022
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Portfolio
Portfolio Guidelines
The portfolio generally invests in a diversified portfolio of investment grade, fixed income securities. A significant portion of the portfolio may invest in securitized bond
investments and will typically maintain an average portfolio duration of less than three.
Sector Allocation2 (%) As of
30 Sep 2022
Bloomberg US 1-3 Yr. Gov./Credit Index
Duration Breakdown (%)As of
30 Sep 2022
|
Short Duration Investment Grade Composite |
Bloomberg US 1-3 Yr. Gov./Credit Index |
| Less than one |
35.5 |
4.9 |
| 1-3 |
47.6 |
95.1 |
| 3-5 |
14.9 |
0.0 |
| 5-7 |
1.3 |
0.0 |
| 7-10 |
0.6 |
0.0 |
| 10-20 |
0.1 |
0.0 |
| 20+ |
0.1 |
0.0 |
Credit Quality Rating3 (%) As of
30 Sep 2022
| AAA |
37.3 |
| AA |
7.3 |
| A |
19.8 |
| BBB |
26.2 |
| BB |
0.0 |
| B |
0.0 |
| CCC & Below |
0.0 |
| Not Rated |
9.3 |
Key Rate Duration (%) As of
30 Sep 2022
|
Short Duration Investment Grade Composite |
Bloomberg US 1-3 Yr. Gov./Credit Index |
| 1Y |
0.20 |
0.35 |
| 2Y |
0.46 |
0.91 |
| 3Y |
0.44 |
0.58 |
| 5Y |
0.36 |
0.00 |
| 10Y |
0.16 |
0.00 |
| 20Y |
0.04 |
0.00 |
| 30Y |
0.00 |
0.00 |
Disclosure
1 2021 returns represent the time period 30 Nov 2021 - 31 Dec 2021.
2 Residential Mortgage-Backed Securities/Commercial Mortgage-Backed Securities. Cash & Other may include cash and money market funds.
3 Security quality ratings are derived from underlying portfolio securities by using the middle rating of Standard & Poor’s, Moody’s, and Fitch. If only two of Standard & Poor’s, Moody’s, and Fitch rates a security the higher of the two is selected. If only one of Standard & Poor’s, Moody’s, and Fitch rates a security the available rating is used. For securities that are not rated by Standard & Poor’s, Moody’s, or Fitch a rating from a secondary Nationally Recognized Statistical Rating Organization (“NRSRO”) may be used. Ratings by any agency represent an opinion only, not a recommendation to buy or sell. Securities that are not rated by any agencies are reflected as Not Rated “NR.”
Index data source: Bloomberg Index Services Limited. See diamond-hill.com/disclosures for a full copy of the disclaimer.
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