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Name

As of 04/13/2022

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

William Blair Ultra-Short Duration Bond Fund

WBLNX | Fund

$8.33

$40.5 M

0.77%

$0.06

0.55%

Vitals

YTD Return

-1.2%

1 yr return

-1.4%

3 Yr Avg Return

1.0%

5 Yr Avg Return

1.1%

Net Assets

$40.5 M

Holdings in Top 10

27.2%

52 WEEK LOW AND HIGH

$8.3
$8.33
$8.60

Expenses

OPERATING FEES

Expense Ratio 0.55%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 210.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$2,500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/13/2022

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

William Blair Ultra-Short Duration Bond Fund

WBLNX | Fund

$8.33

$40.5 M

0.77%

$0.06

0.55%

WBLNX - Profile

Distributions

  • YTD Total Return -1.2%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.30%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    William Blair Ultra-Short Duration Bond Fund
  • Fund Family Name
    William Blair
  • Inception Date
    Dec 01, 2009
  • Shares Outstanding
    N/A
  • Share Class
    N
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Kathleen Lynch

Fund Description

The Fund seeks to maximize total return by investing in a diversified portfolio of investment grade low duration debt securities. Total return includes both income and capital appreciation. The Fund seeks to outperform the ICE BofAML
1-Year
US Treasury Note Index through an actively managed diversified portfolio of securities. The Adviser actively manages the Fund’s average duration relative to the ICE BofAML
1-Year
US Treasury Note Index.
The Fund invests primarily in investment grade debt securities rated in the highest three categories by at least one nationally recognized statistical rating organization.
The Fund invests in U.S. dollar-denominated securities. The Fund’s assets will principally be invested in the following: (1) obligations of or guaranteed by the U.S. Government, its agencies or instrumentalities; (2) corporate debt securities issued by domestic or foreign companies; (3) mortgage-backed securities and asset-backed securities, which are debt securities issued by a corporation, trust or custodian, or by a U.S. Government agency or instrumentality, that are collateralized (i.e., secured as to payment of interest and/or principal) by a portfolio or pool of assets, such as mortgages, debit balances on credit card accounts or U.S. Government securities; and (4) money market instruments, including, but not limited to, those issued by domestic companies, the U.S. Government and its agencies and instrumentalities, U.S. banks and municipalities. The Fund may also invest in Rule 144A securities.
The anticipated weighted average duration for the Fund is between 0 to 3 years. The duration of an instrument is different from the maturity of an instrument in that duration measures the average period remaining until the discounted value of the amounts due (principal and interest) under the instrument are to be paid, rather than the instrument’s stated final maturity. In addition, portfolio duration of two years means that if interest rates increased by one percent, the value of the portfolio would decrease by approximately two percent. For purposes of calculating duration, instruments allowing prepayment will be assigned a prepayment schedule by the Adviser based upon industry experience.
The Fund may also invest in U.S. dollar-denominated money market instruments issued by foreign banks, foreign governments and multinational organizations, such as the World Bank. The Fund may also invest in Section 4(a)(2) commercial paper.
Read More

WBLNX - Performance

Return Ranking - Trailing

Period WBLNX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -4.5% 0.2% 69.71%
1 Yr -1.4% -4.9% 0.8% 84.81%
3 Yr 1.0%* -1.0% 2.7% 40.81%
5 Yr 1.1%* -0.7% 3.0% 69.90%
10 Yr 0.9%* -0.5% 3.0% 58.46%

* Annualized

Return Ranking - Calendar

Period WBLNX Return Category Return Low Category Return High Rank in Category (%)
2023 -2.5% -2.5% 48.5% 100.00%
2022 -0.3% -50.6% 1.8% 79.37%
2021 -0.2% -1.2% 10.6% 95.69%
2020 -2.5% -19.3% 0.4% 96.20%
2019 -1.7% -3.2% 100.0% 95.78%

Total Return Ranking - Trailing

Period WBLNX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -3.8% 100.6% 68.05%
1 Yr -1.4% -8.9% 0.8% 79.32%
3 Yr 1.0%* -2.7% 2.7% 38.57%
5 Yr 1.1%* -1.9% 3.0% 66.02%
10 Yr 0.9%* -1.0% 3.0% 56.92%

* Annualized

Total Return Ranking - Calendar

Period WBLNX Return Category Return Low Category Return High Rank in Category (%)
2023 -2.5% -2.5% 48.5% 100.00%
2022 -0.3% -50.6% 1.8% 79.37%
2021 -0.2% -1.2% 10.6% 95.22%
2020 -2.5% -19.3% 2.0% 96.20%
2019 -1.7% -3.2% 100.0% 95.78%

NAV & Total Return History

WBLNX - Holdings

Concentration Analysis

WBLNX Category Low Category High WBLNX % Rank
Net Assets 40.5 M 24.5 K 19 B 91.32%
Number of Holdings 35 1 3344 90.04%
Net Assets in Top 10 15 M -4.22 B 12.2 B 77.59%
Weighting of Top 10 27.21% 0.0% 100.0% 31.65%

Top 10 Holdings

  1. Federal National Mortgage Association 4% 9.84%
  2. Federal National Mortgage Association 4% 9.82%
  3. Federal National Mortgage Association 2.5% 9.59%
  4. Federal National Mortgage Association 4% 9.04%
  5. Federal National Mortgage Association 4% 9.00%
  6. Federal National Mortgage Association 4% 8.96%
  7. Federal National Mortgage Association 2.5% 8.86%
  8. Federal National Mortgage Association 2.5% 8.77%
  9. Federal National Mortgage Association 2.5% 8.26%
  10. Federal National Mortgage Association 2.5% 8.16%

Asset Allocation

Weighting Return Low Return High WBLNX % Rank
Cash 		66.50% -12.36% 100.00% 5.39%
Bonds 		33.50% 0.00% 107.79% 93.36%
Stocks 		0.00% 0.00% 11.85% 39.42%
Preferred Stocks 		0.00% 0.00% 0.00% 31.12%
Other 		0.00% -1.83% 41.00% 39.00%
Convertible Bonds 		0.00% 0.00% 15.13% 82.16%

Bond Sector Breakdown

Weighting Return Low Return High WBLNX % Rank
Cash & Equivalents 		67.03% 0.00% 100.00% 5.39%
Securitized 		26.24% 0.00% 100.00% 49.38%
Government 		6.74% 0.00% 100.00% 31.54%
Derivative 		0.00% 0.00% 18.59% 41.08%
Corporate 		0.00% 0.00% 100.00% 90.04%
Municipal 		0.00% 0.00% 85.60% 64.73%

Bond Geographic Breakdown

Weighting Return Low Return High WBLNX % Rank
US 		33.50% 0.00% 100.00% 85.06%
Non US 		0.00% 0.00% 77.68% 87.97%

WBLNX - Expenses

Operational Fees

WBLNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.55% 0.03% 4.12% 26.78%
Management Fee 0.30% 0.00% 1.19% 68.18%
12b-1 Fee 0.15% 0.00% 1.00% 41.94%
Administrative Fee N/A 0.01% 0.40% 77.62%

Sales Fees

WBLNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

WBLNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% 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.

WBLNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 210.00% 0.00% 369.54% 96.70%

WBLNX - Distributions

Dividend Yield Analysis

WBLNX Category Low Category High WBLNX % Rank
Dividend Yield 0.77% 0.00% 0.19% 34.30%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

WBLNX Category Low Category High WBLNX % Rank
Net Income Ratio 0.30% -1.30% 14.86% 72.57%

Capital Gain Distribution Analysis

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

Distributions History

View More +

WBLNX - Fund Manager Analysis

Managers

Kathleen Lynch

Start Date

Tenure

Tenure Rank

May 01, 2020

1.92

1.9%

Kathy Lynch, CFA, is a portfolio manager for William Blair’s Low Duration Fixed Income strategy. Before that, Kathy was a tax-exempt trader and portfolio manager. She was the lead portfolio manager for the William Blair Ready Reserves Fund from December 2008 through November 2015, and also served as the credit analyst for the William Blair Ready Reserves Fund. Before joining William Blair in 1999, Kathy was a middle-market fixed-income associate at Citigroup, where she was responsible for facilitating trades in taxable and tax-exempt fixed-income securities. Kathy is a member of the CFA Institute and the CFA Society Chicago. She received a B.S. in business administration from the University of Dayton.

Vesta Marks

Start Date

Tenure

Tenure Rank

Jul 12, 2021

0.72

0.7%

Vesta Marks, CFA, an Associate of William Blair Investment Management, LLC, most recently was a portfolio manager and Managing Director of Fixed Income and Risk Management at Tortoise Capital Advisors. Before joining Tortoise in 2019, he served as Executive Director and Portfolio Manager at Palmer Square Capital Management LLC from 2015 to 2018. Prior to Palmer Square, Vesta was a Portfolio Manager at Semper Capital Management from 2007 to 2014. Vesta joined Semper Capital Management in 2003. Mr. Vesta is a member of the CFA Institute. He is also a member of the Chartered Alternative Investment Analyst Association. Education: Bachelor of Science degree in mathematics from the Massachusetts Institute of Technology (MIT). Vesta has many years of experience in the financial services industry, primarily focused on the analysis and portfolio management of securitized debt instruments. Vesta has primary responsibility for asset-backed and commercial mortgage-backed analysis and trading as well as responsibility for analysis and trading of short duration securities, non-agenc and agency RMBS. He also served as a portfolio analyst at Earnest Partners, modeling and analyzing portfolios of small business loans, GNMA project loans and RMBS. In addition, he formerly worked as a sell-side analyst at Independent Banker's Bank of Florida, where he analyzed banks' securities portfolios, worked with ALM committees, and assessed the valuation and risks of loan portfolios.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.27 5.99 4.0

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