Fund
USDIX
Price as of:
$9.81
- $0.00
- 0.00%
Primary Theme
fund company
Name
As of 04/17/2024Price
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
Vitals
YTD Return
1.7%
1 yr return
5.7%
3 Yr Avg Return
2.2%
5 Yr Avg Return
1.8%
Net Assets
$438 M
Holdings in Top 10
29.6%
52 WEEK LOW AND HIGH
$9.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.34%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 64.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/17/2024Price
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
USDIX - Profile
Distributions
- YTD Total Return 1.7%
- 3 Yr Annualized Total Return 2.2%
- 5 Yr Annualized Total Return 1.8%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.38%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameUBS Ultra Short Income Fund
-
Fund Family NameUBS Asset Management
-
Inception DateMay 29, 2018
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Sabatino
Fund Description
Under normal circumstances, the fund invests in fixed income securities and money market instruments. The fund’s investments in securities may include, but are not limited to, government obligations including agencies, debt issued by government-sponsored and supranational entities, as well as municipal securities, corporate debt, mortgage-backed, asset-backed, and inflation-linked securities. Investments in money market instruments may include, but are not limited to, commercial paper (including asset-backed commercial paper), certificates of deposit, notes, time deposits, repurchase agreements and other money market securities. The fund may invest in money market funds, including those advised by UBS Asset Management (Americas) Inc. (“UBS AM”), the fund’s investment advisor.
The fund may invest in securities of any maturity, but will generally limit its weighted average portfolio duration to one year or less.
The fund normally invests in investment grade securities. Investment grade securities possess a minimum rating of Baa3 by Moody’s Investors Service, Inc. (“Moody’s”) or BBB‑ by Standard & Poor’s Financial Services LLC (“S&P”) or Fitch Ratings, Inc. (“Fitch”) for long-term ratings and/or equivalent short-term ratings, comparably rated by another nationally recognized statistical rating organization, or, if unrated, are determined by UBS AM to be of comparable quality. The fund may at times hold securities rated below-investment-grade if the rating for a security held by the fund is subsequently reduced to below-investment-grade (commonly referred to as “junk bonds,” which are considered speculative in nature).
The fund’s investments may have all types of interest rate payment and reset terms, including floating or variable rate, zero coupon and other features. In addition, the fixed income securities purchased by the fund may be of US and non‑US issuers. The fund’s investments are typically denominated in US dollars or hedged to US dollars.
The fund will, under normal circumstances, invest more than 25% of its total assets in the financial services group of industries.
The fund may engage in derivatives transactions; however, it is not a principal strategy of the fund. Derivatives instruments such as futures, forwards, options, and/or swaps may be used for risk management purposes or as part of the fund’s investment strategies.
The fund is not a money market fund and does not seek to maintain a stable net asset value (“NAV”). The fund should not be considered to be a money market fund or the equivalent of a money market fund.
Management process
UBS AM acts as the investment advisor to the fund, and makes the fund’s investment decisions. UBS AM selects investments for the fund based on a rigorous valuation and research framework, combining top‑down macroeconomic and quantitative research with issuer level credit analysis. This dynamic approach allows UBS AM to exploit diversified sources of return, which UBS AM believes is key to delivering consistent performance over time.
The top‑down process involves formulation of broad investment views and views regarding macroeconomic trends. UBS AM’s views on the direction of interest rates, yield curve shape, sectors, and volatility help formulate final portfolio positioning.
After UBS AM establishes the top‑down strategy, the portfolio management team, working closely with UBS AM’s research analysts, builds portfolios that combines top‑down allocation targets with bottom‑up security specific strategies. Research is a fundamental component of UBS AM’s globally integrated investment platform and consists of top‑down macroeconomic analysis as well as bottom‑up sector and issuer level research. UBS AM uses rigorous credit/structure analysis and relative pricing to choose securities that it believes have superior risk/return characteristics. The ultimate goal of any purchase decision is to be compensated for a given level of risk. Prudent diversification seeks to ensure an appropriate risk/return relationship. Security selection represents the final level of decision-making in our investment process. UBS AM selects individual securities that it believes will give the portfolio the desired exposures with optimal relative value. UBS AM integrates risk management throughout the investment process.
UBS AM considers safety of principal and liquidity in selecting securities for the fund and thus may not buy securities that pay the highest yield. The fund may sell investments that UBS AM believes are no longer favorable with regard to these factors or for other reasons.
The fund is classified by UBS AM as an “ESG-integrated” fund. The fund’s investment process integrates material sustainability and/or environmental, social and governance (“ESG”) considerations into the research process for all portfolio investments and portfolio holdings, except repurchase agreements with certain counterparties and except asset-backed and mortgage-backed securities. ESG integration is driven by taking into account material sustainability and/or ESG risks which could impact investment returns, rather than being driven by specific ethical principles or norms. The analysis of material sustainability and/or ESG considerations can include many different aspects, including, for example, the carbon footprint, employee health and well-being, supply chain management, fair customer treatment and governance processes of a company. The fund’s portfolio managers may still invest in securities without respect to sustainability and/or ESG considerations or in securities which present sustainability and/or ESG risks, including where the portfolio managers believe the potential compensation outweighs the risks identified.
USDIX - Performance
Return Ranking - Trailing
| Period | USDIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.7% | -1.4% | 2.7% | 49.77% |
| 1 Yr | 5.7% | -0.4% | 11.3% | 51.39% |
| 3 Yr | 2.2%* | -2.1% | 5.8% | 64.08% |
| 5 Yr | 1.8%* | -1.0% | 3.9% | 82.98% |
| 10 Yr | N/A* | -4.5% | 27.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | USDIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 0.6% | -2.3% | 4.3% | 72.81% |
| 2022 | -1.9% | -6.5% | 0.5% | 46.67% |
| 2021 | -0.3% | -2.1% | 0.3% | 37.75% |
| 2020 | -0.3% | -3.1% | 1.8% | 79.49% |
| 2019 | 0.5% | -1.2% | 6.1% | 46.20% |
Total Return Ranking - Trailing
| Period | USDIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.7% | -1.4% | 2.7% | 49.77% |
| 1 Yr | 5.7% | -0.4% | 11.3% | 51.39% |
| 3 Yr | 2.2%* | -2.1% | 5.8% | 64.08% |
| 5 Yr | 1.8%* | -1.0% | 3.9% | 82.98% |
| 10 Yr | N/A* | -4.5% | 27.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | USDIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.1% | 0.8% | 12.1% | 35.48% |
| 2022 | -0.1% | -5.1% | 2.5% | 47.62% |
| 2021 | 0.0% | -2.1% | 14.5% | 64.71% |
| 2020 | 0.9% | -1.0% | 3.6% | 83.59% |
| 2019 | 1.6% | 0.3% | 9.6% | 91.85% |
NAV & Total Return History
USDIX - Holdings
Concentration Analysis
| USDIX | Category Low | Category High | USDIX % Rank | |
|---|---|---|---|---|
| Net Assets | 438 M | 25.6 K | 22.6 B | 61.54% |
| Number of Holdings | 102 | 2 | 1291 | 82.81% |
| Net Assets in Top 10 | 126 M | 32.5 K | 18.4 B | 53.39% |
| Weighting of Top 10 | 29.56% | 5.6% | 163.3% | 29.86% |
Top 10 Holdings
- General Motors Financial Co., Inc. 4.69%
- Philip Morris International, Inc. 3.52%
- Humana, Inc. 3.52%
- Hyundai Capital America 3.52%
- Toyota Motor Credit Corp. 2.58%
- JPMorgan Chase Co. 2.35%
- Westpac Banking Corp. 2.35%
- Royal Bank of Canada 2.35%
- Metropolitan Life Global Funding I 2.35%
- Societe Generale SA 2.34%
Asset Allocation
| Weighting | Return Low | Return High | USDIX % Rank | |
|---|---|---|---|---|
| Bonds | 57.23% | 0.00% | 128.16% | 82.81% |
| Cash | 21.54% | 0.00% | 109.89% | 15.84% |
| Other | 21.35% | -29.59% | 99.92% | 17.19% |
| Convertible Bonds | 12.65% | 0.00% | 15.25% | 2.27% |
| Stocks | 0.00% | 0.00% | 97.29% | 37.10% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 22.17% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | USDIX % Rank | |
|---|---|---|---|---|
| Corporate | 41.87% | 0.00% | 99.91% | 44.09% |
| Securitized | 31.51% | 0.00% | 100.00% | 41.36% |
| Cash & Equivalents | 21.54% | 0.00% | 109.89% | 15.84% |
| Derivative | 0.00% | -29.59% | 21.59% | 26.24% |
| Municipal | 0.00% | 0.00% | 70.39% | 58.18% |
| Government | 0.00% | 0.00% | 100.00% | 80.91% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | USDIX % Rank | |
|---|---|---|---|---|
| US | 57.23% | 0.00% | 128.16% | 80.09% |
| Non US | 0.00% | 0.00% | 22.24% | 33.03% |
USDIX - Expenses
Operational Fees
| USDIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.34% | 0.02% | 28.11% | 71.69% |
| Management Fee | 0.20% | 0.00% | 1.19% | 23.08% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.10% | 0.01% | 0.40% | 33.33% |
Sales Fees
| USDIX 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% | 1.00% | N/A |
Trading Fees
| USDIX 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.
| USDIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 64.00% | 0.00% | 369.54% | 44.09% |
USDIX - Distributions
Dividend Yield Analysis
| USDIX | Category Low | Category High | USDIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 8.13% | 22.17% |
Dividend Distribution Analysis
| USDIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
| USDIX | Category Low | Category High | USDIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.38% | -1.30% | 14.86% | 61.50% |
Capital Gain Distribution Analysis
| USDIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 28, 2024 | $0.044 | OrdinaryDividend |
| Feb 29, 2024 | $0.042 | OrdinaryDividend |
| Jan 31, 2024 | $0.044 | OrdinaryDividend |
| Dec 29, 2023 | $0.044 | OrdinaryDividend |
| Nov 30, 2023 | $0.043 | OrdinaryDividend |
| Oct 31, 2023 | $0.044 | OrdinaryDividend |
| Sep 29, 2023 | $0.042 | OrdinaryDividend |
| Aug 31, 2023 | $0.043 | OrdinaryDividend |
| Jul 31, 2023 | $0.042 | OrdinaryDividend |
| Jun 30, 2023 | $0.040 | OrdinaryDividend |
| May 31, 2023 | $0.041 | OrdinaryDividend |
| Apr 28, 2023 | $0.037 | OrdinaryDividend |
| Mar 31, 2023 | $0.036 | OrdinaryDividend |
| Feb 28, 2023 | $0.033 | OrdinaryDividend |
| Jan 31, 2023 | $0.033 | OrdinaryDividend |
| Dec 30, 2022 | $0.031 | OrdinaryDividend |
| Dec 16, 2022 | $0.003 | OrdinaryDividend |
| Nov 30, 2022 | $0.027 | OrdinaryDividend |
| Oct 31, 2022 | $0.024 | OrdinaryDividend |
| Sep 30, 2022 | $0.001 | OrdinaryDividend |
| Aug 31, 2022 | $0.018 | OrdinaryDividend |
| Jul 29, 2022 | $0.014 | OrdinaryDividend |
| Jun 30, 2022 | $0.012 | OrdinaryDividend |
| May 31, 2022 | $0.008 | OrdinaryDividend |
| Apr 29, 2022 | $0.004 | DailyAccrualFund |
| Mar 31, 2022 | $0.003 | DailyAccrualFund |
| Feb 28, 2022 | $0.003 | DailyAccrualFund |
| Jan 31, 2022 | $0.002 | DailyAccrualFund |
| Dec 31, 2021 | $0.002 | DailyAccrualFund |
| Nov 30, 2021 | $0.002 | DailyAccrualFund |
| Oct 29, 2021 | $0.002 | DailyAccrualFund |
| Sep 30, 2021 | $0.002 | DailyAccrualFund |
| Aug 31, 2021 | $0.002 | DailyAccrualFund |
| Jul 30, 2021 | $0.002 | DailyAccrualFund |
| Jun 30, 2021 | $0.002 | DailyAccrualFund |
| May 28, 2021 | $0.002 | DailyAccrualFund |
| Apr 30, 2021 | $0.002 | DailyAccrualFund |
| Mar 31, 2021 | $0.002 | DailyAccrualFund |
| Feb 26, 2021 | $0.003 | DailyAccrualFund |
| Jan 29, 2021 | $0.003 | DailyAccrualFund |
| Dec 31, 2020 | $0.003 | DailyAccrualFund |
| Nov 30, 2020 | $0.003 | DailyAccrualFund |
| Oct 30, 2020 | $0.003 | DailyAccrualFund |
| Sep 30, 2020 | $0.004 | DailyAccrualFund |
| Aug 31, 2020 | $0.004 | DailyAccrualFund |
| Jul 31, 2020 | $0.006 | DailyAccrualFund |
| Jun 30, 2020 | $0.008 | DailyAccrualFund |
| May 29, 2020 | $0.010 | DailyAccrualFund |
| Apr 30, 2020 | $0.012 | DailyAccrualFund |
| Mar 31, 2020 | $0.015 | DailyAccrualFund |
| Feb 28, 2020 | $0.016 | DailyAccrualFund |
| Jan 31, 2020 | $0.017 | DailyAccrualFund |
| Dec 31, 2019 | $0.017 | DailyAccrualFund |
| Nov 29, 2019 | $0.017 | DailyAccrualFund |
| Oct 31, 2019 | $0.019 | DailyAccrualFund |
| Sep 30, 2019 | $0.019 | DailyAccrualFund |
| Aug 30, 2019 | $0.020 | DailyAccrualFund |
| Jul 31, 2019 | $0.021 | DailyAccrualFund |
| Jun 28, 2019 | $0.022 | OrdinaryDividend |
| May 31, 2019 | $0.023 | OrdinaryDividend |
| Apr 30, 2019 | $0.022 | OrdinaryDividend |
USDIX - Fund Manager Analysis
Managers
Robert Sabatino
Start Date
Tenure
Tenure Rank
May 29, 2018
4.01
4.0%
Mr. Sabatino is a managing director of UBS Asset Management (Americas) Inc. (since 2010) (prior to which he was an executive director (from 2007 to 2010)).
David Walczak
Start Date
Tenure
Tenure Rank
May 29, 2018
4.01
4.0%
Mr. Walczak is a Vice President of UBS Series Funds and an executive director (since 2016), head of US money markets (since 2015) and portfolio manager of UBS AM—Liquidity Management team (since 2007).
David Rothweiler
Start Date
Tenure
Tenure Rank
May 29, 2018
4.01
4.0%
Mr. Rothweiler is an executive director (since 2018) and senior portfolio manager of US ultra short, short duration, and intermediate portfolios (since 2004) for UBS AM.
Scott Dolan
Start Date
Tenure
Tenure Rank
Jun 01, 2020
2.0
2.0%
Scott E. Dolan is Head of US Multi-Sector Fixed Income and a Managing Director at UBS Asset Management. Prior to joining UBS Asset Management in 2008, Mr. Dolan was a managing director and head of securitized assets for Citigroup Alternative Investments. Prior to joining Citigroup, Mr. Dolan was a managing director and head of mortgages and structured assets for Bear Stearns Asset Management and a senior mortgage trader at the Clinton Group. Mr. Dolan also worked at Deutsche Asset Management as a managing director and co-head of the Rates Group responsible for strategy, security selection and trading for MBS, ABS, agencies and treasuries. Mr. Dolan started his career at Scudder, Stevens and Clark, where he managed total return fixed income mutual funds and institutional portfolios.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 32.44 | 6.56 | 0.13 |