George Putnam Balanced Fund (PGEOX)
A prudent balance of stocks and bonds since 1937
- Highlights
- Performance
- Holdings
- Expenses
Summary
Fund price |
Yesterday's close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$18.94
0.21% ( $0.04 ) |
$18.99
(06/02/17) |
$16.38
(06/27/16) |
Management team
Paul D. Scanlon, CFA (industry since 1986)
Strategy and process
- Balanced approach: One of the pioneering mutual funds, it offers a mix of stocks and bonds in a classic balanced portfolio.
- Seeks lower volatility: A focus on high-quality bonds helps manage volatility, while high-conviction stocks can help drive relative returns.
- Disciplined process: Experienced portfolio managers use rigorous fundamental research to find opportunities and manage risk.
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. To obtain the most recent month-end performance, visit putnam.com.
Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Absolute Return 500 Fund and 700 Fund, and 4.00% and 3.25% for income funds (1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, T1, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A, M, and T1 shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Performance
Consistency of positive performance over five years
Performance represents 5-year returns in rolling quarter-end periods since inception.
22.26%
Best 5-year annualized return
(for period ending 06/30/87)
-6.23%
Worst 5-year annualized return
(for period ending 03/31/09)
9.08%
Average 5-year annualized return
Dots represent 5-year returns in rolling quarter-end periods since inception.
278 positive 5-year periods
20 negative 5-year periods
| 93% | |
| 7% |
Performance shown above does not reflect the effects of any sales charges. Click on the dots to see specific returns in each five-year period as of the date revealed. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please see below.
Total return (%) as of 03/31/17
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 12.60% | 6.50% | 8.74% | 3.38% |
| After sales charge | 6.12% | 4.42% | 7.46% | 2.77% |
| S&P 500 Index | 17.17% | 10.37% | 13.30% | 7.51% |
| Bloomberg Barclays U.S. Aggregate Bond Index | 0.44% | 2.68% | 2.34% | 4.27% |
| Cumulative performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 12.60% | 20.81% | 52.02% | 39.44% |
| After sales charge | 6.12% | 13.86% | 43.28% | 31.43% |
Annual performance as of 03/31/17
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Before sales charge | 0.92% | -40.30% | 25.80% | 11.15% | 2.71% | 12.36% | 17.76% | 10.48% | -1.11% | 7.93% |
| S&P 500 Index | 5.49% | -37.00% | 26.46% | 15.06% | 2.11% | 16.00% | 32.39% | 13.69% | 1.38% | 11.96% |
| Bloomberg Barclays U.S. Aggregate Bond Index | 6.97% | 5.24% | 5.93% | 6.54% | 7.84% | 4.22% | -2.02% | 5.97% | 0.55% | 2.65% |
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. To obtain the most recent month-end performance, visit putnam.com.
Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and Putnam Absolute Return 500 Fund and 700 Fund, and 4.00% and 3.25% for income funds (1.00% and 0.75% for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Absolute Return 100 Fund and 300 Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, R, T1, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for Class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A, M, and T1 shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.
Holdings
Top 10 holdings as of 05/31/17
| Us Treasury N/B 02.0000 11/30/2020 | 3.79% |
|
|---|---|---|
| Us Treasury N/B 01.1250 12/31/2019 | 2.63% |
|
| Apple | 2.33% |
|
| Us Treasury N/B 01.3750 09/30/2018 | 1.95% |
|
| Alphabet | 1.91% |
|
| Microsoft | 1.81% |
|
| Fnma Fn30 Tba 04.5000 06/01/2047 | 1.71% |
|
| Us Treasury N/B 02.7500 08/15/2042 | 1.59% |
|
| Amazon | 1.50% |
|
| Gnma Gii30 Tba 03.5000 06/01/2047 | 1.31% |
|
| Top 10 holdings, percent of portfolio | 20.53% |
|
Full portfolio holdings as of 03/31/17
| US TREASURY N/B 02.0000 11/30/2020 | 3.86% |
|---|---|
| US TREASURY N/B 01.1250 12/31/2019 | 2.66% |
| APPLE INC | 2.19% |
| US TREASURY N/B 01.3750 09/30/2018 | 1.98% |
| MICROSOFT CORP | 1.73% |
| ALPHABET INC-CL A | 1.67% |
| US TREASURY N/B 02.7500 08/15/2042 | 1.55% |
| AMAZON.COM INC | 1.36% |
| JPMORGAN CHASE & CO | 1.35% |
| PEPSICO INC | 1.33% |
| FNMA FN30 TBA 04.0000 04/01/2047 | 1.25% |
| FNMA FN30 TBA 04.5000 04/01/2047 | 1.18% |
| BANK OF AMERICA CORP | 1.13% |
| FACEBOOK INC-A | 1.13% |
| JOHNSON & JOHNSON | 1.12% |
| HOME DEPOT INC | 0.84% |
| AT&T INC | 0.74% |
| MERCK & CO. INC. | 0.71% |
| WALT DISNEY CO/THE | 0.69% |
| COMCAST CORP-CLASS A | 0.67% |
| VISA INC-CLASS A SHARES | 0.67% |
| SPDR S&P REGIONAL BANKING | 0.65% |
| US TREASURY N/B 01.1250 03/31/2020 | 0.65% |
| GOLDMAN SACHS GROUP INC | 0.62% |
| BROADCOM LTD | 0.61% |
| CONOCOPHILLIPS | 0.61% |
| AMGEN INC | 0.60% |
| GNMA GII30 TBA 03.0000 04/01/2047 | 0.60% |
| FNMA FN30 AL7828 04.5000 11/01/2044 | 0.57% |
| QORVO INC | 0.57% |
| PHILIP MORRIS INTERNATIONAL | 0.56% |
| US TREASURY N/B 01.8750 11/30/2021 | 0.55% |
| FHLMC FH30G G60861 03.5000 01/01/2047 | 0.54% |
| WALGREENS BOOTS ALLIANCE INC | 0.54% |
| GNMA GII30 TBA 03.5000 04/01/2047 | 0.53% |
| SCHWAB (CHARLES) CORP | 0.53% |
| ASSURED GUARANTY LTD | 0.51% |
| KRAFT HEINZ CO/THE | 0.51% |
| TEXAS INSTRUMENTS INC | 0.51% |
| RAYTHEON COMPANY | 0.50% |
| US TREASURY N/B 02.0000 02/15/2022 | 0.50% |
| PRUDENTIAL PLC | 0.49% |
| AMERICAN INTERNATIONAL GROUP | 0.48% |
| CELGENE CORP | 0.48% |
| REPUBLIC SERVICES INC | 0.48% |
| CAMPBELL SOUP CO | 0.46% |
| KOMATSU LTD | 0.46% |
| CHARTER COMMUNICATIONS INC-A | 0.45% |
| COSTCO WHOLESALE CORP | 0.45% |
| DR PEPPER SNAPPLE GROUP INC | 0.44% |
| FHLMC 10000 G60393 03.5000 01/01/2046 | 0.44% |
| FORTIVE CORP | 0.44% |
| INTL BK RECON & DEVELOP 07.6250 01/19/2023 | 0.44% |
| PFIZER INC | 0.44% |
| SYNCHRONY FINANCIAL | 0.44% |
| ADOBE SYSTEMS INC | 0.43% |
| CHUBB LTD | 0.43% |
| NORFOLK SOUTHERN CORP | 0.43% |
| ANADARKO PETROLEUM CORP | 0.42% |
| JOHNSON CONTROLS INTERNATION | 0.42% |
| KKR & CO LP | 0.42% |
| PRICELINE GROUP INC/THE | 0.42% |
| SIEMENS AG | 0.42% |
| APPLIED MATERIALS INC | 0.41% |
| HALLIBURTON CO | 0.41% |
| NORTHROP GRUMMAN CORP | 0.41% |
| METLIFE INC | 0.40% |
| BRISTOL-MYERS SQUIBB CO | 0.39% |
| ALTRIA GROUP INC | 0.38% |
| DANAHER CORP | 0.38% |
| FHLMC FH30G G07084 04.0000 07/01/2042 | 0.38% |
| BIOGEN INC | 0.36% |
| DOVER CORP | 0.36% |
| TJX COMPANIES INC | 0.36% |
| MASTERCARD INC - A | 0.34% |
| ROYAL DUTCH SHELL PLC-A SHS | 0.34% |
| BECTON DICKINSON AND CO | 0.33% |
| EXELON CORP | 0.33% |
| BOSTON SCIENTIFIC CORP | 0.32% |
| COMPUTER SCIENCES CORP | 0.32% |
| CONSTELLATION BRANDS INC-A | 0.32% |
| CHENIERE ENERGY INC | 0.31% |
| ROCKWELL AUTOMATION INC | 0.31% |
| P G & E CORP | 0.30% |
| UNITED TECHNOLOGIES CORP | 0.30% |
| EOG RESOURCES INC | 0.29% |
| SHERWIN-WILLIAMS CO/THE | 0.29% |
| ALEXION PHARMACEUTICALS INC | 0.28% |
| ALIBABA GROUP HOLDING-SP ADR | 0.28% |
| FIDELITY NATIONAL INFO SERV | 0.28% |
| KEYCORP | 0.28% |
| NRG ENERGY INC | 0.28% |
| UBI SOFT ENTERTA | 0.28% |
| CAVIUM INC | 0.27% |
| CIGNA CORP | 0.27% |
| CR BARD INC | 0.27% |
| METLIFE CAP TRST IV P/P 144A 07.8750 12/15/2037 | 0.27% |
| T-MOBILE US INC | 0.27% |
| AMERICAN TOWER CORP | 0.26% |
| FNMA FN30 AS8684 03.5000 01/01/2047 | 0.26% |
| INTUITIVE SURGICAL INC | 0.26% |
| INVESCO LTD | 0.26% |
| O'REILLY AUTOMOTIVE INC | 0.26% |
| FNMA FN30 AL8994 04.0000 09/01/2045 | 0.25% |
| QUALCOMM INC | 0.25% |
| REALPAGE INC | 0.25% |
| SUNCOR ENERGY INC | 0.25% |
| CISCO SYSTEMS INC | 0.24% |
| COMM 2014-CR18 C 04.7367 07/15/2047 | 0.24% |
| CVS HEALTH CORP | 0.24% |
| UBS AG REGS 05.1250 05/15/2024 | 0.24% |
| AMERICAN AIRLINES GROUP INC | 0.23% |
| KION GROUP AG | 0.23% |
| KROGER CO | 0.23% |
| AGILENT TECHNOLOGIES INC | 0.22% |
| HANESBRANDS INC | 0.22% |
| LIVE NATION ENTERTAINMENT IN | 0.22% |
| MOLSON COORS BREWING CO -B | 0.22% |
| NIKE INC -CL B | 0.22% |
| ALBEMARLE CORP | 0.21% |
| AMERICAN WATER WORKS CO INC | 0.21% |
| ING BANK NV P/P 144A 05.8000 09/25/2023 | 0.21% |
| NOBLE ENERGY INC | 0.21% |
| EDISON INTERNATIONAL | 0.20% |
| SCHLUMBERGER LTD | 0.20% |
| WAL-MART STORES INC | 0.20% |
| HILTON WORLDWIDE HOLDINGS IN | 0.19% |
| HUMANA INC | 0.19% |
| NEXTERA ENERGY INC | 0.19% |
| AIRBUS SE | 0.18% |
| ANHEUSER-BUSCH INBEV FIN 04.9000 02/01/2046 | 0.18% |
| DISH NETWORK CORP-A | 0.18% |
| FANUC LTD | 0.18% |
| FNMA FN30 AS4991 03.5000 05/01/2045 | 0.18% |
| FORTUNE BRANDS HOME & SECURI | 0.18% |
| GE CAP INTL FUNDING USD 04.4180 11/15/2035 | 0.18% |
| JAPANESE YEN CALL ACCOUNT | 0.18% |
| MASS MUTUAL LIFE P/P 144A 08.8750 06/01/2039 | 0.18% |
| ZAYO GROUP HOLDINGS INC | 0.18% |
| CENOVUS ENERGY INC | 0.17% |
| CF INDUSTRIES HOLDINGS INC | 0.17% |
| EQUINIX INC | 0.17% |
| EXPEDIA INC | 0.17% |
| FHLMC FH30G Q45743 03.5000 01/01/2047 | 0.17% |
| MONDELEZ INTERNATIONAL INC-A | 0.17% |
| PENN NATIONAL GAMING INC | 0.17% |
| PIONEER NAT RES CO | 0.17% |
| PROGRESSIVE CORP 06.7000 06/15/2037 | 0.17% |
| W.R. GRACE & CO | 0.17% |
| AVALONBAY COMMUNITIES INC | 0.16% |
| BOSTON PROPERTIES INC | 0.16% |
| COLGATE-PALMOLIVE CO | 0.16% |
| ERAC USA FINANCE LLC P/P 144A 07.0000 10/15/2037 | 0.16% |
| EXXON MOBIL CORP | 0.16% |
| FNMA FN30 BC1155 03.0000 06/01/2046 | 0.16% |
| GOLDMAN SACHS GROUP INC 03.8500 01/26/2027 | 0.16% |
| HARTFORD FINL SVCS GRP 06.6250 03/30/2040 | 0.16% |
| NXP SEMICONDUCTORS NV | 0.16% |
| SALESFORCE.COM INC | 0.16% |
| STERICYCLE INC | 0.16% |
| WEC ENERGY GROUP INC 06.2500 05/15/2067 | 0.16% |
| WYNN RESORTS LTD | 0.16% |
| CALPINE CORP | 0.15% |
| CREDIT SUISSE GRP AG P/P 144A 04.2820 01/09/2028 | 0.15% |
| DOW CHEMICAL CO/THE | 0.15% |
| FHLMC FH30G G08537 03.0000 07/01/2043 | 0.15% |
| JAZZ PHARMACEUTICALS PLC | 0.15% |
| MSC 2012-C4 D P/P 144A 05.4495 03/15/2045 | 0.15% |
| ROCKWELL COLLINS INC 04.3500 04/15/2047 | 0.15% |
| SIMON PROPERTY GROUP INC | 0.15% |
| VERIZON COMMUNICATIONS INC | 0.15% |
| WESTROCK MWV LLC 08.2000 01/15/2030 | 0.15% |
| DU PONT (E.I.) DE NEMOURS | 0.14% |
| E*TRADE FINANCIAL CORPORATION | 0.14% |
| FORD MOTOR COMPANY 07.7500 06/15/2043 | 0.14% |
| HENRY SCHEIN INC | 0.14% |
| PUBLIC STORAGE | 0.14% |
| SEALED AIR CORP | 0.14% |
| TENCENT HOLDINGS LTD | 0.14% |
| AMERICAN ELECTRIC POWER | 0.13% |
| ELI LILLY & CO | 0.13% |
| FNMA FN30 AU1625 03.5000 07/01/2043 | 0.13% |
| HAMILTON LANE INC-CLASS A | 0.13% |
| LLOYDS BANKING GROUP USD 05.3000 12/01/2045 | 0.13% |
| RESTAURANT BRANDS INTERN | 0.13% |
| STATE STREET CORP 02.1312 06/15/2037 | 0.13% |
| VENTAS INC | 0.13% |
| WESTLAKE CHEM CORP P/P 144A 03.6000 08/15/2026 | 0.13% |
| AMEREN CORPORATION | 0.12% |
| BRDCOM CRP / FIN P/P 144A 03.8750 01/15/2027 | 0.12% |
| BWX TECHNOLOGIES INC | 0.12% |
| CENOVUS ENERGY INC USD 06.7500 11/15/2039 | 0.12% |
| CHARTER COMM OPT LLC 06.4840 10/23/2045 | 0.12% |
| ENCANA CORP | 0.12% |
| FNMA FN30 AL6919 05.5000 01/01/2038 | 0.12% |
| HERC HOLDINGS INC | 0.12% |
| KERR-MCGEE CORP 07.8750 09/15/2031 | 0.12% |
| ORACLE CORP 02.6500 07/15/2026 | 0.12% |
| QEP RESOURCES INC | 0.12% |
| 21ST CENTURY FOX AMERICA 07.7500 01/20/2024 | 0.11% |
| CAMDEN PROPERTY TRUST 04.8750 06/15/2023 | 0.11% |
| DIAMOND 1 FIN/DIAMON P/P 144A 05.4500 06/15/2023 | 0.11% |
| GAMING AND LEISURE PROPERTIE | 0.11% |
| GILEAD SCIENCES INC | 0.11% |
| GNMA GII30 AL4508 03.5000 02/20/2045 | 0.11% |
| HARTFORD FINANCIAL SVCS GRP | 0.11% |
| PLAINS ALL AMER PIPELINE LP | 0.11% |
| SABINE PASS LIQUEF P/P 144A 05.0000 03/15/2027 | 0.11% |
| SANTANDER ISSUANCES USD 05.1790 11/19/2025 | 0.11% |
| TRANSCANADA TRUST USD 05.3000 03/15/2077 | 0.11% |
| US BANCORP | 0.11% |
| AMERICAN INTL GROUP 08.1750 05/15/2058 | 0.10% |
| CANTOR FITZGERALD LP P/P 144A 06.5000 06/17/2022 | 0.10% |
| CTRIP.COM INTERNATIONAL-ADR | 0.10% |
| EXPRESS SCRIPTS HOLDING CO | 0.10% |
| FHLMC FH30G Q44791 03.5000 12/01/2046 | 0.10% |
| FIRSTENERGY TRANSMIS P/P 144A 05.4500 07/15/2044 | 0.10% |
| GENERAL ELECTRIC CO 05.0000 12/29/2049 | 0.10% |
| GEORGIA-PACIFIC LLC 07.7500 11/15/2029 | 0.10% |
| HILTON WORLDWIDE FIN P/P 144A 04.8750 04/01/2027 | 0.10% |
| LAMB WESTON HOLDINGS P/P 144A 04.8750 11/01/2026 | 0.10% |
| PRUDENTIAL FINANCIAL INC 05.2000 03/15/2044 | 0.10% |
| REALTY INCOME CORP 04.6500 08/01/2023 | 0.10% |
| SEVEN GENERATIONS ENERGY - A | 0.10% |
| STANDARD IND INC P/P 144A 05.0000 02/15/2027 | 0.10% |
| AON PLC USD 04.2500 12/12/2042 | 0.09% |
| BARCLAYS BANK PLC P/P 144A 10.1790 06/12/2021 | 0.09% |
| CITIGROUP INC 05.9500 12/29/2049 | 0.09% |
| COMM 2012-CR1 AM 03.9120 05/15/2045 | 0.09% |
| DIAGEO INVESTMENT CORP 08.0000 09/15/2022 | 0.09% |
| EQUITY LIFESTYLE PROPERTIES | 0.09% |
| FNMA FN30 BD5293 03.5000 01/01/2047 | 0.09% |
| FNMA FN30 TBA 03.5000 05/01/2047 | 0.09% |
| GGP INC | 0.09% |
| JOHNSON CONTROLS INTL PL 04.5000 02/15/2047 | 0.09% |
| KAPSTONE PAPER AND PACKAGING | 0.09% |
| NEWELL BRANDS INC 04.2000 04/01/2026 | 0.09% |
| NVIDIA CORP | 0.09% |
| OWENS CORNING 09.0000 06/15/2019 | 0.09% |
| PPG INDUSTRIES INC | 0.09% |
| SEMPRA ENERGY | 0.09% |
| TELECOM ITALIA SPA P/P 144A 05.3030 05/30/2024 | 0.09% |
| TEVA PHARMACEUTICALS NE USD 03.1500 10/01/2026 | 0.09% |
| TEXAS-NEW MEXICO PR P/P 144A 09.5000 04/01/2019 | 0.09% |
| WILLIAMS PARTNERS LP 04.3000 03/04/2024 | 0.09% |
| AUTONATION INC. 05.5000 02/01/2020 | 0.08% |
| AXALTA COATING SYSTEMS LTD | 0.08% |
| BALL CORP | 0.08% |
| CARDINAL HEALTH INC | 0.08% |
| CONCHO RESOURCES INC 04.3750 01/15/2025 | 0.08% |
| DIAMOND 1 FIN/DIAMON P/P 144A 07.1250 06/15/2024 | 0.08% |
| FNMA FN30 BC1445 03.0000 07/01/2046 | 0.08% |
| FNMA FN30 BC1489 03.0000 08/01/2046 | 0.08% |
| GENERAL MOTORS FINL CO 03.4500 04/10/2022 | 0.08% |
| GLENCORE FUNDING LLC P/P 144A 04.6250 04/29/2024 | 0.08% |
| HP INC | 0.08% |
| HSBC HOLDINGS PLC USD 06.5000 05/02/2036 | 0.08% |
| ILLUMINA INC | 0.08% |
| LEGRAND FRANCE USD 08.5000 02/15/2025 | 0.08% |
| LIBERTY MUTUAL GROUP P/P 144A 07.8000 03/15/2037 | 0.08% |
| MARATHON OIL CORP | 0.08% |
| MCKESSON CORP | 0.08% |
| PINNACLE FOODS INC | 0.08% |
| QUIMICA Y MINERA CHIL-SP ADR | 0.08% |
| SPECTRA ENERGY CAPITAL LLC 08.0000 10/01/2019 | 0.08% |
| SPRINT SPECTRUM P/P 144A 03.3600 09/20/2021 | 0.08% |
| ANALOG DEVICES INC | 0.07% |
| BPCE SA P/P 144A 05.1500 07/21/2024 | 0.07% |
| CBS CORP 02.9000 01/15/2027 | 0.07% |
| CBS CORP 07.8750 07/30/2030 | 0.07% |
| COMCAST CABLE COMMUNICAT 09.4550 11/15/2022 | 0.07% |
| COMM 2013-CR13 AM 04.4490 12/10/2023 | 0.07% |
| CREDIT SUISSE P/P 144A 06.5000 08/08/2023 | 0.07% |
| CVS HEALTH CORP 04.7500 12/01/2022 | 0.07% |
| CVS PASS-THRU TRUST P/P 144A 07.5070 01/10/2032 | 0.07% |
| ENERGY TRANSFER PARTNERS 06.5000 02/01/2042 | 0.07% |
| FEDERAL REALTY INVS TRUST | 0.07% |
| GENERAL MOTORS CO 05.2000 04/01/2045 | 0.07% |
| GNMA GII30 673972 03.0000 08/20/2046 | 0.07% |
| GNMA GII30 711724 03.5000 02/20/2043 | 0.07% |
| GREAT PLAINS ENERGY INC 04.8500 04/01/2047 | 0.07% |
| JPMCC 2012-C6 D 05.1525 05/15/2045 | 0.07% |
| JPMORGAN CHASE & CO 07.9000 12/29/2049 | 0.07% |
| KINDER MORGAN INC | 0.07% |
| KRAFT HEINZ FOODS CO 06.8750 01/26/2039 | 0.07% |
| MARTIN MARIETTA MATERIALS | 0.07% |
| MICROSOFT CORP 02.4000 08/08/2026 | 0.07% |
| MONSTER BEVERAGE CORP | 0.07% |
| NEUBERGER BERMAN GRP P/P 144A 04.8750 04/15/2045 | 0.07% |
| RABOBANK NEDERLAND P/P 144A 11.0000 12/29/2049 | 0.07% |
| TOSCO CORP 08.1250 02/15/2030 | 0.07% |
| UNITEDHEALTH GROUP INC | 0.07% |
| VULCAN MATERIALS CO | 0.07% |
| WILLIS TOWERS WATSON PLC USD 05.7500 03/15/2021 | 0.07% |
| WP CAREY INC 04.6000 04/01/2024 | 0.07% |
| AETNA INC | 0.06% |
| AIR LEASE CORP 03.3750 06/01/2021 | 0.06% |
| AKZO NOBEL | 0.06% |
| ALLY FINANCIAL INC 05.7500 11/20/2025 | 0.06% |
| AMERICAN EXPRESS COMPANY 07.0000 03/19/2018 | 0.06% |
| AMERICAN TOWER CORP 03.4000 02/15/2019 | 0.06% |
| ARC PROP OPER PART L 04.6000 02/06/2024 | 0.06% |
| BANK OF AMERICA CORP 06.1100 01/29/2037 | 0.06% |
| BERKSHIRE HATHAWAY FIN 04.3000 05/15/2043 | 0.06% |
| BP CAPITAL MARKETS PLC USD 03.1190 05/04/2026 | 0.06% |
| CBRE GROUP INC - A | 0.06% |
| CBRE SERVICES INC 04.8750 03/01/2026 | 0.06% |
| CELANESE US HOLDINGS LLC 04.6250 11/15/2022 | 0.06% |
| CHARTER COMM OPT LLC P/P 144A 05.3750 05/01/2047 | 0.06% |
| CHEVRON CORP | 0.06% |
| COGNIZANT TECH SOLUTIONS-A | 0.06% |
| COMMONWEALTH EDISON CO 05.8750 02/01/2033 | 0.06% |
| CONYERS PARK ACQUISIT - UNIT | 0.06% |
| CROWN CASTLE TOWERS P/P 144A 04.8830 08/15/2020 | 0.06% |
| CVS PASS-THROUGH P/P 144A 04.7040 01/10/2036 | 0.06% |
| EDGEWELL PERSONAL CARE CO | 0.06% |
| ESSEX PROPERTY TRUST INC | 0.06% |
| FHLMC FH30G G60314 04.0000 09/01/2045 | 0.06% |
| FHLMC FH30G V80012 03.0000 03/01/2043 | 0.06% |
| FNMA FN30 AB7936 03.0000 02/01/2043 | 0.06% |
| FNMA FN30 AB9369 03.5000 05/01/2043 | 0.06% |
| FNMA FN30 AT1572 03.0000 05/01/2043 | 0.06% |
| FNMA FN30 AT2746 03.5000 05/01/2043 | 0.06% |
| FNMA FN30 AY0773 03.5000 03/01/2045 | 0.06% |
| FNMA FN30 BD0494 03.5000 07/01/2046 | 0.06% |
| GENERAL MOTORS FINL CO 04.0000 10/06/2026 | 0.06% |
| GNMA GII30 AP4923 03.5000 11/20/2045 | 0.06% |
| JPMBB 2013-C14 C 04.5637 08/15/2046 | 0.06% |
| LANXESS AG | 0.06% |
| MITSUBISHI UFJ FIN GRP USD 03.8500 03/01/2026 | 0.06% |
| OMEGA HLTHCARE INVESTORS 04.9500 04/01/2024 | 0.06% |
| PRIDE INTERNATIONAL LLC 07.8750 08/15/2040 | 0.06% |
| S&P GLOBAL INC 04.4000 02/15/2026 | 0.06% |
| TEXAS GAS TRANSMISN P/P 144A 04.5000 02/01/2021 | 0.06% |
| VIDEOTRON LTD / LTEE P/P 144A 05.1250 04/15/2027 | 0.06% |
| WALGREENS BOOTS ALLIANCE 03.4500 06/01/2026 | 0.06% |
| WESTERN DIGITAL CORP | 0.06% |
| WEYERHAEUSER CO 07.3750 03/15/2032 | 0.06% |
| YUM CHINA HOLDINGS INC | 0.06% |
| APPALACHIAN POWER CO 05.8000 10/01/2035 | 0.05% |
| AXA SA P/P 144A 06.4630 12/29/2049 | 0.05% |
| BURLINGTN NORTH SANTA FE 05.4000 06/01/2041 | 0.05% |
| CANADIAN DOLLAR ACCOUNT | 0.05% |
| CGCMT 2014-GC21 AS 04.0260 05/10/2047 | 0.05% |
| COMCAST CORP 03.1500 03/01/2026 | 0.05% |
| COMM 2012-LC4 C 05.6080 12/10/2044 | 0.05% |
| CONSTELLATION BRANDS INC 03.7000 12/06/2026 | 0.05% |
| CORP BOND BACKED CTF P/P 144A 00.0000 09/15/2017 | 0.05% |
| DOLLAR GENERAL CORP 03.2500 04/15/2023 | 0.05% |
| DOUGLAS EMMETT INC | 0.05% |
| EL PASO NATURAL GAS 08.3750 06/15/2032 | 0.05% |
| ENBRIDGE INC USD 04.2500 12/01/2026 | 0.05% |
| ENERGY TRAN PTNR 07.6000 02/01/2024 | 0.05% |
| EQT MIDSTREAM PARTNERS L 04.0000 08/01/2024 | 0.05% |
| ERAC USA FINANCE LLC P/P 144A 05.6250 03/15/2042 | 0.05% |
| GLENCORE FUNDING LLC P/P 144A 04.0000 04/16/2025 | 0.05% |
| GNMA GII30 AL4511 03.5000 02/20/2045 | 0.05% |
| GNMA GII30 AT9856 03.0000 10/20/2046 | 0.05% |
| HEALTHCARE REALTY TRUST INC 03.8750 05/01/2025 | 0.05% |
| HISTORIC TW INC 09.1500 02/01/2023 | 0.05% |
| KKR GROUP FINANCE CO P/P 144A 06.3750 09/29/2020 | 0.05% |
| KRAFT HEINZ FOODS CO 04.3750 06/01/2046 | 0.05% |
| LLOYDS BANKING GROUP PLC USD 04.5000 11/04/2024 | 0.05% |
| MPLX LP 04.1250 03/01/2027 | 0.05% |
| NABORS INDUSTRIES INC 04.6250 09/15/2021 | 0.05% |
| NATIONWIDE MUTUAL P/P 144A 08.2500 12/01/2031 | 0.05% |
| NUCOR CORP | 0.05% |
| OMEGA HLTHCARE INVES 05.2500 01/15/2026 | 0.05% |
| OMNICOM GROUP INC 03.6000 04/15/2026 | 0.05% |
| ONCOR ELECTRIC DELIVERY CO 07.0000 09/01/2022 | 0.05% |
| OPORTUN FIN CORP P/P SERIES H PFD | 0.05% |
| PACIFIC GAS & ELECTRIC 06.3500 02/15/2038 | 0.05% |
| PUGET SOUND ENERGY INC 06.9740 06/01/2067 | 0.05% |
| SABINE PASS LIQUEFACTION 05.6250 04/15/2023 | 0.05% |
| SPECTRA ENERGY CAPITAL LLC 06.2000 04/15/2018 | 0.05% |
| STATOIL ASA USD 05.1000 08/17/2040 | 0.05% |
| SW AIRLINES 07-1 TRUST 06.1500 08/01/2022 | 0.05% |
| TORONTO-DOMINION BANK USD 03.6250 09/15/2031 | 0.05% |
| WELLS FARGO & COMPANY 05.8750 12/29/2049 | 0.05% |
| WYNDHAM WORLDWIDE CORP 04.5000 04/01/2027 | 0.05% |
| AIR LEASE CORP 03.7500 02/01/2022 | 0.04% |
| AMERICAN TOWER CORP 03.3750 10/15/2026 | 0.04% |
| ANHEUSER-BUSCH INBEV FIN 03.6500 02/01/2026 | 0.04% |
| BACARDI LTD P/P 144A 04.5000 01/15/2021 | 0.04% |
| CAPITAL ONE BANK USA NA 03.3750 02/15/2023 | 0.04% |
| CITIGROUP INC 05.8750 12/29/2049 | 0.04% |
| DUKE ENERGY CAROLINAS 04.2500 12/15/2041 | 0.04% |
| EMERA US FINANCE LP 03.5500 06/15/2026 | 0.04% |
| EVERBRIDGE INC | 0.04% |
| FHLMC FH30G Q45196 03.5000 12/01/2046 | 0.04% |
| FIVE CORNERS FUNDING P/P 144A 04.4190 11/15/2023 | 0.04% |
| FNMA FN30 734836 05.0000 08/01/2033 | 0.04% |
| FNMA FN30 995023 05.5000 08/01/2037 | 0.04% |
| FNMA FN30 BD3705 03.5000 08/01/2046 | 0.04% |
| FNMA FN30 BD6401 03.5000 09/01/2046 | 0.04% |
| FORD MOTOR CREDIT CO LLC 04.1340 08/04/2025 | 0.04% |
| FREEPORT-MCMORAN INC | 0.04% |
| GORES HOLDINGS II INC | 0.04% |
| HCA INC 05.0000 03/15/2024 | 0.04% |
| HESS CORP 07.3000 08/15/2031 | 0.04% |
| HSBC BANK USA NA 07.0000 01/15/2039 | 0.04% |
| HSBC HOLDINGS PLC USD 04.2500 08/18/2025 | 0.04% |
| JPMCC 2013-C13 C 04.0531 01/15/2046 | 0.04% |
| KINDER MORGAN ENER PART 03.5000 03/01/2021 | 0.04% |
| LIBERTY MUTUAL INSUR P/P 144A 07.6970 10/15/2097 | 0.04% |
| N TX HWY-TXB-B 06.7180 01/01/2049 | 0.04% |
| NBCUNIVERSAL MEDIA LLC 06.4000 04/30/2040 | 0.04% |
| NORFOLK SOUTHERN CORP 06.0000 05/23/2111 | 0.04% |
| NVR INC 03.9500 09/15/2022 | 0.04% |
| O'REILLY AUTOMOTIVE INC 03.5500 03/15/2026 | 0.04% |
| ONEAMERICA FINL P/P 144A 07.0000 10/15/2033 | 0.04% |
| PARKER-HANNIFIN CORP 06.2500 05/15/2038 | 0.04% |
| PEBBLEBROOK HOTEL TRUST | 0.04% |
| PENSKE TRUCK LE P/P 144A 03.4000 11/15/2026 | 0.04% |
| PETROLEOS MEXICANOS USD 04.5000 01/23/2026 | 0.04% |
| ROYAL BANK OF CANADA USD 04.6500 01/27/2026 | 0.04% |
| SANTANDER UK PLC P/P 144A 05.0000 11/07/2023 | 0.04% |
| SUMITOMO MITSUI P/P 144A 04.4360 04/02/2024 | 0.04% |
| TELEFONICA EMISIONES SAU USD 07.0450 06/20/2036 | 0.04% |
| VALERO ENERGY PARTNERS 04.3750 12/15/2026 | 0.04% |
| ACTAVIS FUNDING SCS USD 04.7500 03/15/2045 | 0.03% |
| AMERICAN EXPRESS CO 04.9000 12/29/2049 | 0.03% |
| AMERICAN TOWER CORP 04.0000 06/01/2025 | 0.03% |
| APPLE INC 03.8500 05/04/2043 | 0.03% |
| APPLE INC 04.3750 05/13/2045 | 0.03% |
| ARCELORMITTAL | 0.03% |
| AUTONATION INC 04.5000 10/01/2025 | 0.03% |
| AVIATION CAPITAL GRP P/P 144A 07.1250 10/15/2020 | 0.03% |
| BANCO DEL ESTADO P/P 144A 02.0000 11/09/2017 | 0.03% |
| BANK OF AMERICA CORP 06.1000 12/29/2049 | 0.03% |
| BEAR STEARNS COS LLC 07.2500 02/01/2018 | 0.03% |
| BPCE SA P/P 144A 05.7000 10/22/2023 | 0.03% |
| CA TXB-VAR PURP 3 07.5000 04/01/2034 | 0.03% |
| CAPITAL ONE FINANCIAL CO 04.2000 10/29/2025 | 0.03% |
| CHARTER COMM OPT LLC 04.9080 07/23/2025 | 0.03% |
| CNO FINANCIAL GROUP INC 05.2500 05/30/2025 | 0.03% |
| COMCAST CORP 06.5000 11/15/2035 | 0.03% |
| CROWN CASTLE INTL CORP 04.8750 04/15/2022 | 0.03% |
| DDR CORP. 07.8750 09/01/2020 | 0.03% |
| DELIVERY HERO HOLDIN P/P | 0.03% |
| DIAMOND 1 FIN/DIAMON P/P 144A 08.3500 07/15/2046 | 0.03% |
| EDP FINANCE BV P/P 144A 05.2500 01/14/2021 | 0.03% |
| ENEL FINANCE INTL NV P/P 144A 05.1250 10/07/2019 | 0.03% |
| EPR PROPERTIES 05.2500 07/15/2023 | 0.03% |
| EXPEDIA INC 05.0000 02/15/2026 | 0.03% |
| FAIRFAX US INC P/P 144A 04.8750 08/13/2024 | 0.03% |
| FHLMC FH30G G07321 03.5000 04/01/2043 | 0.03% |
| FHLMC FH30G Q14035 03.5000 12/01/2042 | 0.03% |
| FHLMC FH30G Q44903 03.5000 12/01/2046 | 0.03% |
| FHLMC FH30G Q44946 03.5000 12/01/2046 | 0.03% |
| FHLMC FH30G Q45042 03.5000 12/01/2046 | 0.03% |
| FNMA FN30 555591 05.5000 07/01/2033 | 0.03% |
| FNMA FN30 BC7330 03.5000 12/01/2046 | 0.03% |
| FNMA FN30 BD6687 03.5000 08/01/2046 | 0.03% |
| FNMA FN30 BD8704 03.5000 12/01/2046 | 0.03% |
| FORD MOTOR CREDIT CO LLC 03.0960 05/04/2023 | 0.03% |
| GENERAL MOTORS FINL CO 04.3000 07/13/2025 | 0.03% |
| GNMA GII30 AW5280 03.0000 10/20/2046 | 0.03% |
| GOLDMAN SACHS GROUP INC 06.7500 10/01/2037 | 0.03% |
| GRUPO BIMBO SAB P/P 144A 04.8750 06/27/2044 | 0.03% |
| GRUPO TELEVISA SAB USD 05.0000 05/13/2045 | 0.03% |
| GRUPO TELEVISA SAB USD 06.6250 01/15/2040 | 0.03% |
| HOST HOTELS & RESORTS LP 06.0000 10/01/2021 | 0.03% |
| INTL LEASE FINANCE CORP 06.2500 05/15/2019 | 0.03% |
| INVISTA FINANCE LLC P/P 144A 04.2500 10/15/2019 | 0.03% |
| ITC HOLDINGS CORP P/P 144A 06.0500 01/31/2018 | 0.03% |
| JPMCC 2012-C8 D P/P 144A 04.6773 10/15/2045 | 0.03% |
| JPMORGAN CHASE & CO 05.3000 12/29/2049 | 0.03% |
| KEANE GROUP INC | 0.03% |
| KIMCO REALTY CORP | 0.03% |
| KRAFT HEINZ FOODS CO 06.5000 02/09/2040 | 0.03% |
| LEAR CORP 05.3750 03/15/2024 | 0.03% |
| LUKOIL INTL FIN BV P/P 144A 04.5630 04/24/2023 | 0.03% |
| MEDTRONIC INC 03.5000 03/15/2025 | 0.03% |
| MEDTRONIC INC 04.3750 03/15/2035 | 0.03% |
| MID-AMERICA APT LP 04.3000 10/15/2023 | 0.03% |
| NORTHROP GRUMMAN SYSTEMS 07.8750 03/01/2026 | 0.03% |
| OH UNIV-TXB-C-BABS 04.9100 06/01/2040 | 0.03% |
| OPORTUN FIN CORP P/P | 0.03% |
| OPORTUN FIN F-1 PFD CV P/P | 0.03% |
| OPORTUN FIN G-1 PFD CV P/P | 0.03% |
| PACIFIC LIFECORP P/P 144A 06.0000 02/10/2020 | 0.03% |
| PRUDENTIAL FINANCIAL INC 05.6250 06/15/2043 | 0.03% |
| QVC INC 04.8500 04/01/2024 | 0.03% |
| RPC GROUP PLC | 0.03% |
| TEACHERS INSUR & ANN P/P 144A 06.8500 12/16/2039 | 0.03% |
| TRAVELERS PPTY CASUALTY 07.7500 04/15/2026 | 0.03% |
| UNITEDHEALTH GROUP INC 04.6250 11/15/2041 | 0.03% |
| WFRBS 2014-C19 C 04.6460 03/15/2047 | 0.03% |
| WILLIAMS PARTNERS L.P. 04.8750 03/15/2024 | 0.03% |
| 21ST CENTURY FOX AMERICA 07.8500 03/01/2039 | 0.02% |
| ABBVIE INC 03.6000 05/14/2025 | 0.02% |
| ACTAVIS FUNDING SCS USD 03.4500 03/15/2022 | 0.02% |
| AGRIUM INC USD 07.1250 05/23/2036 | 0.02% |
| AMERICA MOVIL SAB DE USD 06.1250 03/30/2040 | 0.02% |
| ANHEUSER-BUSCH INBEV 08.2000 01/15/2039 | 0.02% |
| ANTHEM INC 04.6250 05/15/2042 | 0.02% |
| APPLE INC 03.4500 05/06/2024 | 0.02% |
| ASSURANT INC 06.7500 02/15/2034 | 0.02% |
| AUST & NZ BANKING GR P/P 144A 06.7500 12/29/2049 | 0.02% |
| AUSTRALIAN DOLLAR ACCOUNT | 0.02% |
| BANK OF AMERICA CORP 01.8912 09/15/2026 | 0.02% |
| BG ENERGY CAP PLC P/P 144A 04.0000 10/15/2021 | 0.02% |
| BOARDWALK PIPELINES LP 04.4500 07/15/2027 | 0.02% |
| CBRE SERVICES INC 05.2500 03/15/2025 | 0.02% |
| CC HLDG GS V LLC/CRO 03.8490 04/15/2023 | 0.02% |
| CONSOLIDATED EDISON CO O 04.2000 03/15/2042 | 0.02% |
| COOPERATIEVE RABOBANK UA USD 03.7500 07/21/2026 | 0.02% |
| COOPERATIEVE RABOBANK UA USD 04.6250 12/01/2023 | 0.02% |
| CREDIT AGRICOLE SA P/P 144A 04.3750 03/17/2025 | 0.02% |
| CYTEC INDUSTRIES INC. 03.5000 04/01/2023 | 0.02% |
| DCP MIDSTREAM OPERATING 02.7000 04/01/2019 | 0.02% |
| DCP MIDSTREAM OPERATING 03.8750 03/15/2023 | 0.02% |
| DEVON ENERGY CORPORATION 03.2500 05/15/2022 | 0.02% |
| EASTMAN CHEMICAL CO 03.8000 03/15/2025 | 0.02% |
| ENERGY TRANSFER PARTNERS 05.2000 02/01/2022 | 0.02% |
| ERAC USA FINANCE LLC P/P 144A 03.8500 11/15/2024 | 0.02% |
| FHLMC FH30G Q44706 03.5000 12/01/2046 | 0.02% |
| FIFTH THIRD BANCORP 05.1000 12/29/2049 | 0.02% |
| FNMA FN30 889982 05.5000 11/01/2038 | 0.02% |
| FNMA FN30 995018 05.5000 06/01/2038 | 0.02% |
| FNMA FN30 AA0839 05.0000 01/01/2039 | 0.02% |
| FNMA FN30 BD3718 03.5000 08/01/2046 | 0.02% |
| FNMA FN30 BD4740 03.5000 08/01/2046 | 0.02% |
| FNMA FN30 BE4222 03.5000 12/01/2046 | 0.02% |
| FORD MOTOR COMPANY 07.4000 11/01/2046 | 0.02% |
| FORD MOTOR COMPANY 09.9800 02/15/2047 | 0.02% |
| GENERAL MOTORS FINL CO 03.4500 01/14/2022 | 0.02% |
| GENERAL MOTORS FINL CO 04.0000 01/15/2025 | 0.02% |
| GNMA GII30 AP5408 03.5000 09/20/2045 | 0.02% |
| GNMA GII30 AT8064 03.0000 08/20/2046 | 0.02% |
| HCA INC 05.2500 06/15/2026 | 0.02% |
| HILTON DOMESTIC OPER P/P 144A 04.2500 09/01/2024 | 0.02% |
| HOSPITALITY PROPERTIES T 04.5000 03/15/2025 | 0.02% |
| HSBC BANK USA NA 05.6250 08/15/2035 | 0.02% |
| HYATT HOTELS CORP 03.3750 07/15/2023 | 0.02% |
| IBERDROLA INTL BV USD 06.7500 07/15/2036 | 0.02% |
| IHS MARKIT LTD P/P 144A 04.7500 02/15/2025 | 0.02% |
| ILUKA RESOURCES LTD | 0.02% |
| KINDER MORGAN ENER PART 05.4000 09/01/2044 | 0.02% |
| KINDER MORGAN INC. 03.0500 12/01/2019 | 0.02% |
| L3 TECHNOLOGIES INC 03.8500 12/15/2026 | 0.02% |
| LLOYDS BANK PLC USD 02.7000 08/17/2020 | 0.02% |
| MARATHON PETRO CORP 06.5000 03/01/2041 | 0.02% |
| NOBLE HOLDING INTL LTD USD 06.0500 03/01/2041 | 0.02% |
| O'REILLY AUTOMOTIVE INC 03.8500 06/15/2023 | 0.02% |
| PRIMERICA INC 04.7500 07/15/2022 | 0.02% |
| ROGERS COMMUNICATIONS IN USD 04.5000 03/15/2043 | 0.02% |
| ROYAL BK SCOTLND GRP PLC USD 03.8750 09/12/2023 | 0.02% |
| SABINE PASS LIQUEFAC P/P 144A 04.2000 03/15/2028 | 0.02% |
| SABMILLER HLDG INC 04.9500 01/15/2042 | 0.02% |
| SELECT INCOME REIT 02.8500 02/01/2018 | 0.02% |
| SELECT INCOME REIT 03.6000 02/01/2020 | 0.02% |
| SHIRE ACQ INV IE 03.2000 09/23/2026 | 0.02% |
| UNITED AIR 2014-2 A PTT 03.7500 09/03/2026 | 0.02% |
| UNITED STATES STEEL CORP | 0.02% |
| UNITED TECHNOLOGIES CORP 04.5000 06/01/2042 | 0.02% |
| VERIZON COMM 04.5220 09/15/2048 | 0.02% |
| VULCAN MATERIALS COMPANY 04.5000 04/01/2025 | 0.02% |
| WESTROCK MWV LLC 07.9500 02/15/2031 | 0.02% |
| WILLIAMS PARTNERS LP 03.6000 03/15/2022 | 0.02% |
| ZFS FIN USA TRUST V P/P 144A 06.5000 05/09/2037 | 0.02% |
| AFLAC INC 06.4500 08/15/2040 | 0.01% |
| ARCH COAL INC - A | 0.01% |
| ARIZONA PUBLIC SERVICE 04.5000 04/01/2042 | 0.01% |
| AT&T INC 04.7500 05/15/2046 | 0.01% |
| AXA SA P/P 144A 06.3790 12/29/2049 | 0.01% |
| BGC PARTNERS INC 05.1250 05/27/2021 | 0.01% |
| BURLINGTN NORTH SANTA FE 05.7500 05/01/2040 | 0.01% |
| CROWN CASTLE INTL CORP. 05.2500 01/15/2023 | 0.01% |
| ENERGY TRANSFER PARTNERS 04.2000 04/15/2027 | 0.01% |
| FNMA FN30 BD4702 03.5000 08/01/2046 | 0.01% |
| FNMA FN30 BD4712 03.5000 08/01/2046 | 0.01% |
| FNMA FN30 BD5295 03.5000 01/01/2047 | 0.01% |
| FNMA FN30 BD6697 03.5000 08/01/2046 | 0.01% |
| FNMA FN30 BD6704 03.5000 09/01/2046 | 0.01% |
| FNMA FN30 BD6714 03.5000 09/01/2046 | 0.01% |
| FNMA FN30 BD7907 03.5000 10/01/2046 | 0.01% |
| FNMA FN30 BD7914 03.5000 10/01/2046 | 0.01% |
| FNMA FN30 BD7948 03.5000 11/01/2046 | 0.01% |
| FNMA FN30 BD9948 03.5000 10/01/2046 | 0.01% |
| GNMA GII30 AP4904 03.5000 10/20/2045 | 0.01% |
| HOST HOTELS & RESORTS 05.2500 03/15/2022 | 0.01% |
| HSBC USA INC 03.5000 06/23/2024 | 0.01% |
| JABIL CIRCUIT INC 08.2500 03/15/2018 | 0.01% |
| LBCMT 1999-C1 G P/P 144A 06.4100 06/15/2031 | 0.01% |
| LIBERTY PROPERTY LP 03.3750 06/15/2023 | 0.01% |
| OMEGA HLTHCARE INVES 04.5000 04/01/2027 | 0.01% |
| OPORTUN FIN D-1 PFD CV P/P | 0.01% |
| OPORTUN FIN F PFD CV P/P | 0.01% |
| PACIFIC GAS & ELECTRIC 05.8000 03/01/2037 | 0.01% |
| PEACHTREE FUNDING TR P/P 144A 03.9760 02/15/2025 | 0.01% |
| PPL CAPITAL FUNDING INC 04.2000 06/15/2022 | 0.01% |
| PRICELINE GROUP INC/THE 03.6500 03/15/2025 | 0.01% |
| QUEST DIAGNOSTICS INC 04.7500 01/30/2020 | 0.01% |
| ROGERS COMMUNICATIONS IN USD 08.7500 05/01/2032 | 0.01% |
| STACR 2016-HQA2 M1 02.1817 11/25/2028 | 0.01% |
| STEEL DYNAMICS INC | 0.01% |
| TIAAC 2003-1A E 144A 08.0000 12/28/2038 | 0.01% |
| TIME WARNER INC 02.9500 07/15/2026 | 0.01% |
| TYSON FOODS INC 04.8750 08/15/2034 | 0.01% |
| UNITED TECHNOLOGIES CORP 05.7000 04/15/2040 | 0.01% |
| VERIZON COMM 05.9000 02/15/2054 | 0.01% |
| WESTROCK RKT CO 04.4500 03/01/2019 | 0.01% |
| YARA INTERNATIONAL ASA | 0.01% |
| BEAVER VALLEY II FUNDING 09.0000 06/01/2017 | 0.00% |
| CAD/USD 04/19/2017 BANKAM | 0.00% |
| CAD/USD 04/19/2017 BCAP-FX | 0.00% |
| CAD/USD 04/19/2017 CSI-FX | 0.00% |
| CAD/USD 04/19/2017 JPMCB | 0.00% |
| CAS 2016-C05 2M1 02.3317 01/25/2029 | 0.00% |
| CHF/USD 06/21/2017 JPMCB | 0.00% |
| CONTL AIRLINES 1997-4 06.9000 01/02/2018 | 0.00% |
| CONTL AIRLINES 1998-1 06.6480 09/15/2017 | 0.00% |
| EUR/USD 06/21/2017 CITI | 0.00% |
| EUR/USD 06/21/2017 UBS | 0.00% |
| FHLMC FH30G G01793 06.0000 03/01/2035 | 0.00% |
| FNR 2001-79 BI IO 00.3025 03/25/2045 | 0.00% |
| FORD MOTOR COMPANY 07.4500 07/16/2031 | 0.00% |
| FPLUS 1997-3 B1 07.7900 11/10/2023 | 0.00% |
| GBP/USD 06/21/2017 BANKAM | 0.00% |
| GBP/USD 06/21/2017 CSI-FX | 0.00% |
| INTERNATIONAL PAPER CO 08.7000 06/15/2038 | 0.00% |
| JPMCC 2004-LN2 A2 05.1150 07/15/2041 | 0.00% |
| JPY/USD 05/17/2017 GSFX | 0.00% |
| LBCMT 1998-C4 H P/P 144A 05.6000 10/15/2035 | 0.00% |
| OPORTUN FIN A-1 PFD CV P/P | 0.00% |
| OPORTUN FIN B-1 PFD CV P/P | 0.00% |
| OPORTUN FIN C-1 PFD CV P/P | 0.00% |
| OPORTUN FIN E-1 PFD CV P/P | 0.00% |
| PARK HOTELS & RESORTS INC | 0.00% |
| S&P500 EMINI FUT JUN17 ESM7 | 0.00% |
| POUND STERLING CALL ACCOUNT | -0.03% |
| FNMA FN30 TBA 03.0000 05/01/2047 | -1.51% |
Prior top 10 holdings
| Top 10 holdings as of 05/31/17 | |
|---|---|
| Us Treasury N/B 02.0000 11/30/2020 | |
| Us Treasury N/B 01.1250 12/31/2019 | |
| Apple | |
| Us Treasury N/B 01.3750 09/30/2018 | |
| Alphabet | |
| Microsoft | |
| Fnma Fn30 Tba 04.5000 06/01/2047 | |
| Us Treasury N/B 02.7500 08/15/2042 | |
| Amazon | |
| Gnma Gii30 Tba 03.5000 06/01/2047 | |
| Holdings represent 20.53% of portfolio | |
| Top 10 holdings as of 04/30/17 | |
|---|---|
| Us Treasury N/B 02.0000 11/30/2020 | |
| Us Treasury N/B 01.1250 12/31/2019 | |
| Apple | |
| Us Treasury N/B 01.3750 09/30/2018 | |
| Alphabet | |
| Microsoft | |
| Us Treasury N/B 02.7500 08/15/2042 | |
| Amazon | |
| Fnma Fn30 Tba 04.0000 05/01/2047 | |
| JPMorgan Chase | |
| Holdings represent 19.68% of portfolio | |
| Top 10 holdings as of 03/31/17 | |
|---|---|
| Us Treasury N/B 02.0000 11/30/2020 | |
| Us Treasury N/B 01.1250 12/31/2019 | |
| Apple | |
| Us Treasury N/B 01.3750 09/30/2018 | |
| Microsoft | |
| Alphabet | |
| Us Treasury N/B 02.7500 08/15/2042 | |
| Amazon.Com | |
| JPMorgan Chase | |
| Pepsico | |
| Holdings represent 19.68% of portfolio | |
| Top 10 holdings as of 02/28/17 | |
|---|---|
| Us Treasury N/B 02.0000 11/30/2020 | |
| Us Treasury N/B 01.1250 12/31/2019 | |
| Apple | |
| Us Treasury N/B 01.3750 09/30/2018 | |
| Microsoft | |
| Alphabet | |
| Fnma Fn30 Tba 03.5000 04/01/2047 | |
| Us Treasury N/B 02.7500 08/15/2042 | |
| JPMorgan Chase | |
| Amazon.Com | |
| Holdings represent 20.15% of portfolio | |
Portfolio composition as of 05/31/17
| Common stock | 60.92% |
|
|---|---|---|
| Corporate bonds and notes | 15.08% |
|
| Treasury | 11.64% |
|
| Agency pass-through | 7.41% |
|
| Cash and net other assets | 3.30% |
|
| Commercial MBS | 0.91% |
|
| Agency | 0.44% |
|
| Emerging-market bonds | 0.20% |
|
| Municipal bonds | 0.10% |
|
Fixed income statistics as of 05/31/17
| Average effective maturity | 8.93 yrs. |
|---|---|
| Average effective duration | 6.01 yrs. |
Maturity detail as of 05/31/17
| 0 - 1 yr. | 4.73% |
|---|---|
| 1 - 5 yrs. | 33.64% |
| 5 - 10 yrs. | 40.76% |
| 10 - 15 yrs. | 2.69% |
| Over 15 yrs. | 18.18% |
Quality rating as of 05/31/17
| AAA | 53.40% |
|---|---|
| AA | 2.36% |
| A | 12.46% |
| BBB | 26.03% |
| BB | 2.30% |
| CCC and Below | 0.04% |
| Not Rated | 3.41% |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Expenses
Expense ratio |
Class A | Class B | Class C | Class M | Class R | Class R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|---|
| Total expense ratio | 1.02% | 1.77% | 1.77% | 1.52% | 1.27% | 0.73% | 0.63% | 0.77% |
| What you pay | 1.02% | 1.77% | 1.77% | 1.52% | 1.27% | 0.73% | 0.63% | 0.77% |
Sales charge
| Investment Breakpoint | Class A | Class B | Class C | Class M | Class R | Class R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|---|
| $0-$49,999 | 5.75% | 0.00% | 0.00% | 3.50% | -- | -- | -- | -- |
| $50,000-$99,999 | 4.50% | 0.00% | 0.00% | 2.50% | -- | -- | -- | -- |
| $100,000-$249,999 | 3.50% | -- | 0.00% | 1.50% | -- | -- | -- | -- |
| $250,000-$499,999 | 2.50% | -- | 0.00% | 1.00% | -- | -- | -- | -- |
| $500,000-$999,999 | 2.00% | -- | 0.00% | 1.00% | -- | -- | -- | -- |
| $1M-$4M | 0.00% | -- | -- | -- | -- | -- | -- | -- |
| $4M-$50M | 0.00% | -- | -- | -- | -- | -- | -- | -- |
| $50M+ | 0.00% | -- | -- | -- | -- | -- | -- | -- |
CDSC
|
Class A
(sales for $1,000,000+) |
Class B | Class C | Class M | Class R | Class R5 | Class R6 | Class Y | |
|---|---|---|---|---|---|---|---|---|
| 0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- | -- | -- |
| 9 to 12 mts. | 0.00% | 5.00% | 1.00% | -- | -- | -- | -- | -- |
| 2 yrs. | -- | 4.00% | 0.00% | -- | -- | -- | -- | -- |
| 3 yrs. | -- | 3.00% | 0.00% | -- | -- | -- | -- | -- |
| 4 yrs. | -- | 3.00% | 0.00% | -- | -- | -- | -- | -- |
| 5 yrs. | -- | 2.00% | 0.00% | -- | -- | -- | -- | -- |
| 6 yrs. | -- | 1.00% | 0.00% | -- | -- | -- | -- | -- |
| 7+ yrs. | -- | 0.00% | 0.00% | -- | -- | -- | -- | -- |
The S&P 500 Index is an unmanaged index of common stock performance. The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index of U.S. investment-grade fixed income securities. You cannot invest directly in an index.
Consider these risks before investing: Stock and bond prices may fall or fail to rise over time for several reasons, including general financial market conditions, factors related to a specific issuer or industry and, with respect to bond prices, changing market perceptions of the risk of default and changes in government intervention. These factors may also lead to increased volatility and reduced liquidity in the bond markets. Growth stocks may be more susceptible to earnings disappointments, and value stocks may fail to rebound. Bond investments are subject to interest-rate risk (the risk of bond prices falling if interest rates rise) and credit risk (the risk of an issuer defaulting on interest or principal payments). Default risk is generally higher for non-qualified mortgages. Interest-rate risk is greater for longer-term bonds, and credit risk is greater for below-investment-grade bonds. Risks associated with derivatives include increased investment exposure (which may be considered leverage) and, in the case of over-the-counter instruments, the potential inability to terminate or sell derivatives positions and the potential failure of the other party to the instrument to meet its obligations. You can lose money by investing in the fund.