Continue to site >
Trending ETFs

Name

As of 05/17/2024

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

$9.86

$930 M

4.97%

$0.49

0.77%

Vitals

YTD Return

2.3%

1 yr return

5.7%

3 Yr Avg Return

2.4%

5 Yr Avg Return

1.9%

Net Assets

$930 M

Holdings in Top 10

24.4%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.77%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 92.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/17/2024

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

$9.86

$930 M

4.97%

$0.49

0.77%

CULAX - Profile

Distributions

  • YTD Total Return 2.3%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 1.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.58%
DIVIDENDS
  • Dividend Yield 5.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Calvert Ultra-Short Duration Income Fund
  • Fund Family Name
    Calvert Investments
  • Inception Date
    Oct 31, 2006
  • Shares Outstanding
    33792035
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Vishal Khanduja

Fund Description

The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (including borrowings for investment purposes) in a portfolio of floating-rate securities (e.g., corporate floating-rate securities) and securities with durations of less than or equal to one year (“80% Policy”). The Fund is not a money market fund and does not seek to maintain a stable net asset value.

Under normal circumstances, the Fund’s average portfolio duration will be less than one year.  The Fund generally defines ultra-short duration securities as those with durations of less than or equal to one year.

The Fund typically invests at least 85% of its net assets in investment grade, U.S. dollar-denominated debt securities, as assessed at the time of purchase. A debt security is considered investment grade when assigned a credit quality rating of BBB- or higher by S&P Global Ratings (“S&P”) or an equivalent rating by another nationally recognized statistical rating organization (“NRSRO”), including Moody’s Investors Service or Fitch Ratings, or Kroll Bond Rating Agency, LLC for securitized debt instruments only (such as asset-backed securities (“ABS”) and mortgage-backed securities (“MBS”))) or if unrated, considered to be of comparable credit quality by the Fund’s investment adviser. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used.

The Fund invests principally in bonds issued by U.S. corporations, the U.S. Government or its agencies, and U.S. government-sponsored enterprises (“GSEs”) such as the Federal National Mortgage Association (“FNMA”) and the Federal Home Loan Mortgage Corporation (“FHLMC”). The Fund also may invest in trust preferred securities, money market instruments, taxable municipal obligations and loans.

The Fund may invest in ABS and MBS that represent interests in pools of mortgage loans (MBS) or other assets (ABS) assembled for sale to investors by various U.S. governmental agencies, government-related organizations and private issuers. MBS may include collateralized mortgage obligations (“CMOs”) and commercial mortgage-backed securities (“CMBS”).

Under normal circumstances, the Fund will invest in below-investment grade, high-yield debt instruments (commonly known as “junk bonds”), including distressed instruments that are in default.  The Fund’s investment in such instruments is limited to 15% of its net assets.

The Fund may also invest up to 25% of its net assets in foreign debt securities. Foreign debt securities include American Depositary Receipts (“ADRs”), which are either sponsored or unsponsored and Global Depositary Receipts (“GDRs”).  The Fund may engage in forward foreign currency exchange contracts to seek to hedge against the decline in the value of currencies in which its portfolio holdings are denominated against the U.S. dollar.  The Fund may also lend its securities.

Investment decisions for the Fund are made primarily on the basis of fundamental and quantitative research conducted by the investment adviser’s research staff and consideration of the responsible investment criteria described below. Management of the Fund involves consideration of numerous factors (such as quality of business franchises, financial strength, management quality and security structural and collateral considerations). The portfolio managers may also use sector rotation and relative value strategies in their management of the Fund.  The portfolio managers may sell a security when the investment adviser’s valuation target is reached, the fundamentals of the investment change or to pursue more attractive investment options.  A security will also be sold (in accordance with the investment adviser’s guidelines and at a time and in a manner that is determined to be in the best interests of shareholders) if the investment adviser determines that the issuer does not operate in a manner consistent with the Fund’s responsible investment criteria.  The portfolio managers intend to focus on risk management and also seek to preserve capital to the extent consistent with the Fund’s investment objective. The Fund intends to seek to manage investment risk by maintaining broad issuer and industry diversification among its holdings, and by utilizing fundamental analysis of risk/return characteristics in securities selection. The Fund seeks to manage duration and any hedging of interest rate risk through the purchase and sale of U.S. Treasury securities and related futures contracts (which are a type of derivative instrument).

Responsible Investing. The portfolio manager(s) seek to invest in companies that manage environmental, social and governance (“ESG”) risk exposures adequately and that are not exposed to excessive ESG risk through their principal business activities. Companies are analyzed by the investment adviser’s ESG analysts utilizing The Calvert Principles for Responsible Investment (“Principles”), a framework for considering ESG factors (a copy of which is included as an appendix to the Fund’s Prospectus). Each company is evaluated relative to an appropriate peer group based on material ESG factors as determined by the investment adviser. Pursuant to the Principles, the investment adviser seeks to identify companies and other issuers that operate in a manner that is consistent with or promotes environmental sustainability and resource efficiency, equitable societies and respect for human rights, and accountable governance and transparency. The Fund generally invests in issuers that are believed by the investment adviser to operate in accordance with the Principles

and may also invest in issuers that the investment adviser believes are likely to operate in accordance with the Principles pending the investment adviser’s engagement activity with such issuer.

Read More

CULAX - Performance

Return Ranking - Trailing

Period CULAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -1.2% 4.3% 41.67%
1 Yr 5.7% 0.6% 15.1% 60.65%
3 Yr 2.4%* -1.9% 6.0% 64.39%
5 Yr 1.9%* -1.0% 4.4% 78.19%
10 Yr 1.6%* -4.4% 27.6% 61.54%

* Annualized

Return Ranking - Calendar

Period CULAX Return Category Return Low Category Return High Rank in Category (%)
2023 1.3% -2.3% 4.3% 45.83%
2022 -2.0% -6.5% 0.5% 51.20%
2021 -0.2% -2.1% 0.3% 25.12%
2020 -0.6% -3.1% 1.8% 89.18%
2019 0.8% -1.2% 6.1% 29.35%

Total Return Ranking - Trailing

Period CULAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -1.2% 4.3% 41.67%
1 Yr 5.7% 0.6% 15.1% 60.65%
3 Yr 2.4%* -1.9% 6.0% 64.39%
5 Yr 1.9%* -1.0% 4.4% 78.19%
10 Yr 1.6%* -4.4% 27.6% 61.54%

* Annualized

Total Return Ranking - Calendar

Period CULAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% 0.8% 12.1% 41.20%
2022 -0.2% -5.1% 2.5% 52.15%
2021 0.5% -2.1% 14.5% 17.73%
2020 0.8% -1.0% 3.6% 85.57%
2019 2.9% 0.3% 9.6% 58.15%

NAV & Total Return History


CULAX - Holdings

Concentration Analysis

CULAX Category Low Category High CULAX % Rank
Net Assets 930 M 25.6 K 22.6 B 49.07%
Number of Holdings 216 2 1291 62.96%
Net Assets in Top 10 242 M 23.7 K 17.3 B 45.83%
Weighting of Top 10 24.44% 5.6% 163.3% 41.20%

Top 10 Holdings

  1. United States Treasury Bill 4.99%
  2. United States Treasury Bill 4.99%
  3. Morgan Stanley Institutional Liquidity Funds - Government Portfolio 4.61%
  4. JPMorgan Chase Co 2.07%
  5. Rogers Communications Inc/Ontario 1.55%
  6. Bank of America Corp 1.43%
  7. Brookfield BRP Holdings Canada Inc 1.25%
  8. Sprint LLC 1.18%
  9. Affiliated Managers Group Inc 1.18%
  10. General Motors Financial Co Inc 1.18%

Asset Allocation

Weighting Return Low Return High CULAX % Rank
Bonds
59.45% 0.00% 128.16% 82.41%
Cash
22.56% 0.00% 109.89% 16.67%
Other
19.59% -7.74% 99.94% 22.69%
Convertible Bonds
5.60% 0.00% 15.25% 26.05%
Stocks
0.00% 0.00% 95.95% 51.39%
Preferred Stocks
0.00% 0.00% 0.00% 40.28%

Bond Sector Breakdown

Weighting Return Low Return High CULAX % Rank
Corporate
51.55% 0.00% 99.91% 26.98%
Securitized
34.44% 0.00% 100.00% 35.81%
Cash & Equivalents
22.56% 0.00% 109.89% 16.67%
Government
11.26% 0.00% 100.00% 30.23%
Municipal
0.00% 0.00% 70.39% 67.44%
Derivative
-0.02% -7.49% 21.59% 74.54%

Bond Geographic Breakdown

Weighting Return Low Return High CULAX % Rank
US
59.45% 0.00% 128.16% 79.63%
Non US
0.00% 0.00% 22.24% 50.46%

CULAX - Expenses

Operational Fees

CULAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.77% 0.02% 29.63% 19.63%
Management Fee 0.38% 0.00% 1.19% 82.87%
12b-1 Fee 0.25% 0.00% 1.00% 56.47%
Administrative Fee 0.12% 0.01% 0.40% 54.74%

Sales Fees

CULAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% 93.33%
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

CULAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% 20.15%

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.

CULAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 92.00% 0.00% 369.54% 69.23%

CULAX - Distributions

Dividend Yield Analysis

CULAX Category Low Category High CULAX % Rank
Dividend Yield 4.97% 0.00% 8.76% 48.61%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

CULAX Category Low Category High CULAX % Rank
Net Income Ratio 0.58% -1.30% 14.86% 40.87%

Capital Gain Distribution Analysis

CULAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

CULAX - Fund Manager Analysis

Managers

Vishal Khanduja


Start Date

Tenure

Tenure Rank

Jul 31, 2012

9.84

9.8%

Vishal Khanduja is a vice president and portfolio manager for Calvert Research and Management, a wholly owned subsidiary of Eaton Vance Management specializing in responsible and sustainable investing across global capital markets. He joined Calvert Research and Management in 2016. Vishal began his career in the investment management industry in 2005. He has been affiliated with the Eaton Vance organization since 2016. Before joining the Eaton Vance organization, he was a senior vice president, portfolio manager and head of taxable fixed income for Calvert Investments. Previously, he was a vice president and portfolio manager at Columbia Threadneedle and associate director of fixed-income analytics at Galliard Capital. Vishal earned a bachelor of engineering from VJTI, Mumbai, India and an MBA from the Tippie School of Management at the University of Iowa. He is a member of the CFA Institute and the CFA Society of Boston. He is a CFA charterholder.

Brian Ellis


Start Date

Tenure

Tenure Rank

Mar 04, 2015

7.25

7.3%

Brian Ellis is a vice president and portfolio manager for Calvert Research and Management, a wholly owned subsidiary of Eaton Vance Management specializing in responsible and sustainable investing across global capital markets. He joined Calvert Research and Management in 2016. Brian began his career in the investment management industry in 2006. He has been affiliated with the Eaton Vance organization since 2016. Before joining the Eaton Vance organization, he was a portfolio manager of fixed-income strategies for Calvert Investments. Previously, he was a software engineer and analyst at Legg Mason Capital Management (now ClearBridge Investments). Brian earned a B.S. in finance from Salisbury University. He is a CFA charterholder and an FSA credential holder. He is a member of the CFA Institute and the CFA Society of Boston.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.56 7.92