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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 Short Duration Bond Fund

WBRRX | Fund

$8.29

$22.6 M

1.04%

$0.09

0.45%

Vitals

YTD Return

-1.8%

1 yr return

-2.1%

3 Yr Avg Return

1.4%

5 Yr Avg Return

1.4%

Net Assets

$22.6 M

Holdings in Top 10

16.5%

52 WEEK LOW AND HIGH

$8.3
$8.29
$8.60

Expenses

OPERATING FEES

Expense Ratio 0.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 111.00%

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 Short Duration Bond Fund

WBRRX | Fund

$8.29

$22.6 M

1.04%

$0.09

0.45%

WBRRX - Profile

Distributions

  • YTD Total Return -1.8%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.76%
DIVIDENDS
  • Dividend Yield 1.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    William Blair Short Duration Bond Fund
  • Fund Family Name
    William Blair
  • Inception Date
    Oct 01, 1990
  • Shares Outstanding
    N/A
  • Share Class
    N
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Vesta Marks

Fund Description

As a matter of fundamental policy, under normal market conditions, the Fund invests at least 90% of its total assets in the following: (a) U.S. dollar-denominated corporate debt securities (domestic or foreign) with long-term ratings of “A –” or better, or an equivalent rating, by at least one of the following three nationally recognized statistical rating organizations: Fitch Ratings, Moody’s Investors Service, Inc. and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (“Rating Organizations”); (b) obligations of or guaranteed by the U.S. Government, its agencies or instrumentalities; (c) collateralized obligations, 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, mortgage-backed securities, debit balances on credit card accounts or U.S. Government securities (the Fund may invest in collateralized obligations that are not guaranteed by a U.S. Government agency or instrumentality only if the collateralized obligations are rated “A—” or better, or an equivalent rating, by one of the Rating Organizations); and (d) commercial paper obligations rated within the highest grade by one of the Rating Organizations. The Fund may also invest in Rule 144A securities.
The Adviser seeks to outperform the Bloomberg Barclays Intermediate Government/Credit Bond Index through an actively managed diversified portfolio of debt securities. The Adviser’s investment philosophy emphasizes shifts in the Fund’s portfolio among various sectors of the debt market, subject to the Fund’s credit quality constraints for its portfolio. The Adviser also actively manages the Fund based upon the average duration and yield to maturity of the Fund’s portfolio and the Adviser’s perceived trends in interest rates.
The anticipated dollar-weighted average maturity of the Fund is three to seven years. The anticipated weighted average modified duration for the Fund is two to five 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, a portfolio duration of five years means that if interest rates increased by one percent, the value of the portfolio would decrease by approximately five percent. Modified duration adjusts duration to take into account the yield to maturity and the number of coupons received each year. For purposes of calculating duration, instruments allowing prepayment will be assigned a prepayment schedule by the Adviser based upon industry experience.
Up to 10% of the Fund’s total assets may be invested in debt securities that at the time of purchase are rated lower than “A—” but at least “BBB—” (or its equivalent) by at least one of the Rating Organizations by which such securities are rated, so long as the Fund does not invest more than 3% of its total net assets in securities of any single issuer whose securities are rated “BBB—”. Securities that are downgraded below “BBB—” (or its equivalent) after purchase may continue to be held in the Fund.
Read More

WBRRX - Performance

Return Ranking - Trailing

Period WBRRX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -18.7% -0.1% 3.10%
1 Yr -2.1% -5.5% 3.9% 19.29%
3 Yr 1.4%* -1.3% 6.1% 39.63%
5 Yr 1.4%* -0.8% 5.6% 59.34%
10 Yr 1.6%* -0.2% 4.1% 39.91%

* Annualized

Return Ranking - Calendar

Period WBRRX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.1% -15.4% 94.2% 95.32%
2022 1.6% -20.8% 206.3% 50.95%
2021 2.5% -74.0% 9.3% 27.39%
2020 -4.1% -50.6% 1.0% 98.83%
2019 -1.6% -2.6% 9.2% 99.15%

Total Return Ranking - Trailing

Period WBRRX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -18.7% -0.1% 1.63%
1 Yr -2.1% -9.4% 3.9% 17.02%
3 Yr 1.4%* -2.3% 6.1% 34.40%
5 Yr 1.4%* -0.9% 5.6% 54.21%
10 Yr 1.6%* -0.3% 4.1% 37.84%

* Annualized

Total Return Ranking - Calendar

Period WBRRX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.1% -15.4% 94.2% 95.15%
2022 1.6% -20.8% 206.3% 50.95%
2021 2.5% -74.0% 9.3% 28.83%
2020 -4.1% -50.6% 6.5% 99.22%
2019 -1.6% -2.6% 20.5% 99.15%

NAV & Total Return History

WBRRX - Holdings

Concentration Analysis

WBRRX Category Low Category High WBRRX % Rank
Net Assets 22.6 M 6.44 M 73.4 B 95.49%
Number of Holdings 29 4 4969 91.37%
Net Assets in Top 10 5.07 M 7.78 K 11.4 B 97.44%
Weighting of Top 10 16.52% 2.1% 100.0% 70.40%

Top 10 Holdings

  1. Federal National Mortgage Association 2.5% 7.56%
  2. Federal National Mortgage Association 2.5% 7.50%
  3. Federal National Mortgage Association 2.5% 7.37%
  4. Federal National Mortgage Association 2.5% 7.34%
  5. Fnma Pass-Thru I 4% 5.42%
  6. United States Treasury Notes 0.32% 5.33%
  7. Federal National Mortgage Association 4% 5.05%
  8. Federal National Mortgage Association 2% 4.91%
  9. Federal National Mortgage Association 5.5% 4.88%
  10. Federal National Mortgage Association 3% 4.46%

Asset Allocation

Weighting Return Low Return High WBRRX % Rank
Cash 		79.26% -37.20% 79.26% 0.32%
Bonds 		20.74% 20.74% 133.49% 99.84%
Stocks 		0.00% -0.04% 11.58% 40.42%
Preferred Stocks 		0.00% 0.00% 25.15% 41.21%
Other 		0.00% -1.79% 11.07% 28.27%
Convertible Bonds 		0.00% 0.00% 27.47% 93.13%

Bond Sector Breakdown

Weighting Return Low Return High WBRRX % Rank
Cash & Equivalents 		79.26% 0.00% 79.26% 0.32%
Securitized 		13.62% 0.00% 98.02% 80.03%
Government 		7.12% 0.00% 76.91% 74.12%
Derivative 		0.00% 0.00% 23.80% 38.34%
Corporate 		0.00% 0.00% 100.00% 99.20%
Municipal 		0.00% 0.00% 17.95% 64.54%

Bond Geographic Breakdown

Weighting Return Low Return High WBRRX % Rank
US 		20.74% -1.64% 130.11% 98.88%
Non US 		0.00% 0.00% 85.27% 97.28%

WBRRX - Expenses

Operational Fees

WBRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.45% 0.02% 2.48% 68.02%
Management Fee 0.25% 0.00% 1.19% 24.60%
12b-1 Fee 0.15% 0.00% 1.00% 19.50%
Administrative Fee N/A 0.01% 0.50% 71.83%

Sales Fees

WBRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 0.50% 5.00% N/A

Trading Fees

WBRRX 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.

WBRRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 111.00% 0.00% 496.37% 67.33%

WBRRX - Distributions

Dividend Yield Analysis

WBRRX Category Low Category High WBRRX % Rank
Dividend Yield 1.04% 0.00% 1.37% 24.24%

Dividend Distribution Analysis

WBRRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

WBRRX Category Low Category High WBRRX % Rank
Net Income Ratio 0.76% -1.27% 65.00% 76.48%

Capital Gain Distribution Analysis

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

Distributions History

View More +

WBRRX - Fund Manager Analysis

Managers

Vesta Marks

Start Date

Tenure

Tenure Rank

Nov 10, 2021

0.39

0.4%

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
0.02 28.6 5.98 2.25

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