Active Allocation
George Putnam Balanced Fund (Class A) (PGEOX)
A prudent balance of stocks and bonds since 1937
Highlights
Objective
The fund seeks to provide a balanced investment composed of a well-diversified portfolio of stocks and bonds which produce both capital growth and current income.
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.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$20.78
0.34% | $0.07 |
$20.78
10/21/19 |
$17.17
12/24/18 |
Fund facts as of 09/30/19
$1,343.60M
143%
Quarterly
527
July
37252M108 / 0002
11/05/37
Asset Allocation
PGEOX
Management team
Manager commentary | Q2 2019
A balanced fund for a shifting market environment
Portfolio Manager Jackie Cavanaugh discusses the advantages of a balanced portfolio in managing risk.
Literature
Fund documents |
| Prospectuses/SAI |
| Fact Sheet (R6 share) (PDF) |
| Fact Sheet (Y share) (PDF) |
| Annual Fund Report (PDF) |
| Semiannual Fund Report (PDF) |
Performance
Consistency of positive performance over five years
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.
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)
9.05%
Average 5-year annualized return
Total return (%) as of 09/30/19
Annual performance as of 09/30/19
Annualized Total return (%) as of 09/30/19
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | 7.23% | 9.75% | 7.56% | 9.15% |
| After sales charge | 1.07% | 7.60% | 6.29% | 8.51% |
| S&P 500 Index | 4.25% | 13.39% | 10.84% | 13.24% |
| Bloomberg Barclays U.S. Aggregate Bond Index | 10.30% | 2.92% | 3.38% | 3.75% |
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. 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 Multi-Asset Absolute Return Fund, 4.00% and 3.25% for income funds and 2.25% and 0.75% for Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return 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, which is 3% in the first year, declining to 1% in the fourth 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, N, R, 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). Returns at public offering price (after sales charge) for class N shares reflect the current maximum initial sales charge of 1.50%. 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 and M shares of Putnam money market funds have no initial sales charge. For a portion of the periods, some funds had expense limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 09/30/19 | 0.78% | -5.01% | |
| YTD as of 10/21/19 | 17.74% | 10.97% | |
Yield
| Distribution rate before sales charge as of 10/21/19 |
1.37% |
|---|---|
| Distribution rate after sales charge as of 10/21/19 |
1.29% |
| 30-day SEC yield as of 09/30/19 (after sales charge) |
1.04% |
Risk-adjusted performance as of 09/30/19
| Alpha (3 yrs.) | 0.94 |
|---|---|
| Sharpe ratio (3 yrs.) | 1.09 |
| Treynor ratio (3 yrs.) | 13.44 |
| Information ratio (3 yrs.) | -0.74 |
Volatility as of 09/30/19
| Standard deviation (3 yrs.) | 7.58% |
|---|---|
| Beta | 0.62 |
| R-squared | 0.95 |
Capture ratio as of 09/30/19
| Up-market (3 yrs.) | 66.26 |
|---|---|
| Down-market (3 yrs.) | 58.39 |
Lipper rankings as of 09/30/19
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 53/564 | 10% |
| 3 yrs. | 26/535 | 5% |
| 5 yrs. | 36/499 | 8% |
| 10 yrs. | 46/424 | 11% |
Morningstar Ratings™ as of 09/30/19
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 658 | |
| 3 yrs. | 658 | |
| 5 yrs. | 581 | |
| 10 yrs. | 427 |
Distributions
| Record/Ex dividend date | 08/28/19 |
|---|---|
| Payable date | 08/30/19 |
| Income | $0.071 |
| Extra income | -- |
| Short-term cap. gain | -- |
| Long-term cap. gain | -- |
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 09/30/19
| Microsoft | 2.74% |
|---|---|
| Alphabet | 2.08% |
| Amazon | 1.86% |
| Us Treasury N/B 01.6250 10/31/2023 | 1.83% |
| Us Treasury N/B 02.7500 08/15/2042 | 1.77% |
| Us Treasury N/B 02.2500 02/15/2021 | 1.73% |
| Apple | 1.66% |
| Us Treasury N/B 01.7500 06/30/2022 | 1.64% |
| Us Treasury N/B 02.1250 12/31/2022 | 1.50% |
| Us Treasury N/B 03.0000 02/15/2047 | 1.29% |
| Top 10 holdings, percent of portfolio | 18.10% |
Full portfolio holdings as of 09/30/19
| MICROSOFT CORP SEDOL 2588173 | 2.74% |
|---|---|
| ALPHABET INC-CL A SEDOL BYVY8G0 | 2.08% |
| AMAZON.COM INC SEDOL 2000019 | 1.86% |
| US TREASURY N/B 01.6250 10/31/2023 | 1.82% |
| US TREASURY N/B 02.7500 08/15/2042 | 1.76% |
| US TREASURY N/B 02.2500 02/15/2021 | 1.72% |
| APPLE INC SEDOL 2046251 | 1.66% |
| US TREASURY N/B 01.7500 06/30/2022 | 1.63% |
| US TREASURY N/B 02.1250 12/31/2022 | 1.49% |
| S&P500 EMINI FUT DEC19 ESZ9 | 1.34% |
| PROCTER & GAMBLE CO/THE SEDOL 2704407 | 1.29% |
| US TREASURY N/B 03.0000 02/15/2047 | 1.29% |
| BANK OF AMERICA CORP SEDOL 2295677 | 1.20% |
| FACEBOOK INC-CLASS A SEDOL B7TL820 | 1.18% |
| FNMA FN30 TBA UMBS 03.5000 10/01/2049 | 1.14% |
| HOME DEPOT INC SEDOL 2434209 | 1.14% |
| COCA-COLA CO/THE SEDOL 2206657 | 1.09% |
| US TREASURY N/B 02.6250 06/15/2021 | 1.06% |
| US TREASURY N/B 01.8750 11/30/2021 | 0.97% |
| CITIGROUP INC SEDOL 2297907 | 0.96% |
| ACTIVISION BLIZZARD INC SEDOL 2575818 | 0.88% |
| NXP SEMICONDUCTORS NV SEDOL B505PN7 | 0.86% |
| FIDELITY NATIONAL INFO SERV SEDOL 2769796 | 0.84% |
| VISA INC-CLASS A SHARES SEDOL B2PZN04 | 0.84% |
| US TREASURY N/B 02.0000 02/15/2022 | 0.82% |
| WALMART INC SEDOL 2936921 | 0.82% |
| BP PLC SEDOL 0798059 | 0.79% |
| MASTERCARD INC - A SEDOL B121557 | 0.77% |
| CENOVUS ENERGY INC SEDOL B57FG04 | 0.75% |
| ASSURED GUARANTY LTD SEDOL B00V7H8 | 0.74% |
| GENERAL MOTORS CO SEDOL B665KZ5 | 0.71% |
| MERCK & CO. INC. SEDOL 2778844 | 0.71% |
| CIGNA CORP SEDOL BHJ0775 | 0.68% |
| JOHNSON & JOHNSON SEDOL 2475833 | 0.68% |
| TEXAS INSTRUMENTS INC SEDOL 2885409 | 0.67% |
| AMERICAN INTERNATIONAL GROUP SEDOL 2027342 | 0.66% |
| HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 0.65% |
| GOLDMAN SACHS GROUP INC SEDOL 2407966 | 0.64% |
| AMERICAN ELECTRIC POWER SEDOL 2026242 | 0.62% |
| CHARTER COMMUNICATIONS INC-A SEDOL BZ6VT82 | 0.61% |
| US TREASURY N/B 02.0000 11/30/2020 | 0.60% |
| ADOBE INC SEDOL 2008154 | 0.60% |
| JPMORGAN CHASE & CO SEDOL 2190385 | 0.58% |
| GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 | 0.55% |
| PNC FINANCIAL SERVICES GROUP SEDOL 2692665 | 0.54% |
| NETFLIX INC SEDOL 2857817 | 0.53% |
| FISERV INC SEDOL 2342034 | 0.52% |
| NRG ENERGY INC SEDOL 2212922 | 0.52% |
| SALESFORCE.COM INC SEDOL 2310525 | 0.52% |
| ON SEMICONDUCTOR CORP SEDOL 2583576 | 0.51% |
| SBA COMMUNICATIONS CORP SEDOL BZ6TS23 | 0.51% |
| WALT DISNEY CO/THE SEDOL 2270726 | 0.51% |
| ENTERPRISE PRODUCTS PARTNERS SEDOL 2285388 | 0.51% |
| PRUDENTIAL PLC SEDOL 0709954 | 0.50% |
| AT&T INC SEDOL 2831811 | 0.49% |
| BOOKING HOLDINGS INC SEDOL BDRXDB4 | 0.49% |
| EATON CORP PLC SEDOL B8KQN82 | 0.49% |
| EXELON CORP SEDOL 2670519 | 0.49% |
| GNMA GII30 MA3802 03.0000 07/20/2046 | 0.48% |
| FNMA FN30 TBA UMBS 04.0000 10/01/2049 | 0.46% |
| UNITEDHEALTH GROUP INC SEDOL 2917766 | 0.45% |
| UNION PACIFIC CORP SEDOL 2914734 | 0.45% |
| SHERWIN-WILLIAMS CO/THE SEDOL 2804211 | 0.44% |
| DANAHER CORP SEDOL 2250870 | 0.42% |
| NEXTERA ENERGY INC SEDOL 2328915 | 0.42% |
| PFIZER INC SEDOL 2684703 | 0.40% |
| ABBVIE INC SEDOL B92SR70 | 0.40% |
| AMGEN INC SEDOL 2023607 | 0.39% |
| NIKE INC -CL B SEDOL 2640147 | 0.39% |
| FORTUNE BRANDS HOME & SECURI SEDOL B3MC7D6 | 0.39% |
| ABBOTT LABORATORIES SEDOL 2002305 | 0.39% |
| FHLMC FR30 RA1102 UMBS 04.0000 07/01/2049 | 0.38% |
| GNMA GN30 784660 04.0000 12/15/2040 | 0.36% |
| HILTON WORLDWIDE HOLDINGS IN SEDOL BYVMW06 | 0.35% |
| NETEASE INC-ADR SEDOL 2606440 | 0.35% |
| E*TRADE FINANCIAL CORPORATION | 0.34% |
| WELLS FARGO & CO SEDOL 2649100 | 0.33% |
| FREEPORT-MCMORAN INC SEDOL 2352118 | 0.32% |
| THERMO FISHER SCIENTIFIC INC SEDOL 2886907 | 0.32% |
| RAYMOND JAMES FINANCIAL INC SEDOL 2718992 | 0.32% |
| CHIPOTLE MEXICAN GRILL INC SEDOL B0X7DZ3 | 0.32% |
| BLACKROCK INC SEDOL 2494504 | 0.31% |
| HERSHEY CO/THE SEDOL 2422806 | 0.31% |
| JPMORGAN CHASE & CO 03.9640 11/15/2048 | 0.31% |
| LINDE PLC SEDOL BZ12WP8 | 0.31% |
| BOEING CO/THE SEDOL 2108601 | 0.30% |
| DASSAULT SYSTEMES SA SEDOL 5330047 | 0.29% |
| GNMA GII30 MA5019 03.5000 02/20/2048 | 0.29% |
| YUM CHINA HOLDINGS INC SEDOL BYW4289 | 0.29% |
| BOSTON SCIENTIFIC CORP SEDOL 2113434 | 0.28% |
| GENERAL DYNAMICS CORP SEDOL 2365161 | 0.28% |
| COSTCO WHOLESALE CORP SEDOL 2701271 | 0.28% |
| INTERCONTINENTAL EXCHANGE IN SEDOL BFSSDS9 | 0.28% |
| UNITED TECHNOLOGIES CORP SEDOL 2915500 | 0.28% |
| FNMA FN30 BJ9256 UMBS 04.0000 06/01/2048 | 0.27% |
| KKR & CO INC -A SEDOL BG1FRR1 | 0.27% |
| WYNN RESORTS LTD SEDOL 2963811 | 0.27% |
| DUKE ENERGY CORP SEDOL B7VD3F2 | 0.26% |
| FNMA FN30 BK4129 UMBS 04.5000 06/01/2048 | 0.26% |
| MEDTRONIC PLC SEDOL BTN1Y11 | 0.26% |
| AMEREN CORPORATION SEDOL 2050832 | 0.26% |
| CARMAX INC SEDOL 2983563 | 0.26% |
| NORTHROP GRUMMAN CORP SEDOL 2648806 | 0.26% |
| BECTON DICKINSON AND CO SEDOL 2087807 | 0.26% |
| ELI LILLY & CO SEDOL 2516152 | 0.25% |
| NORFOLK SOUTHERN CORP SEDOL 2641894 | 0.25% |
| RAYTHEON COMPANY SEDOL 2758051 | 0.25% |
| METLIFE CAP TRST IV P/P 144A 07.8750 12/15/2037 | 0.25% |
| MCCORMICK & CO-NON VTG SHRS SEDOL 2550161 | 0.24% |
| GNMA GII30 BJ1330 05.0000 02/20/2049 | 0.24% |
| JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 0.24% |
| PEPSICO INC SEDOL 2681511 | 0.24% |
| TJX COMPANIES INC SEDOL 2989301 | 0.24% |
| FNMA FN30 TBA UMBS 04.5000 10/01/2049 | 0.24% |
| GNMA GII30 TBA 03.5000 10/01/2049 | 0.23% |
| FHLMC FR30 ZS3542 UMBS 04.0000 07/01/2042 | 0.23% |
| FNMA FN30 BM5477 UMBS 04.5000 02/01/2049 | 0.23% |
| US BANCORP 03.0000 07/30/2029 | 0.23% |
| BAXTER INTERNATIONAL INC SEDOL 2085102 | 0.23% |
| VERIZON COMM 04.3290 09/21/2028 | 0.23% |
| CIGNA CORP 03.7500 07/15/2023 | 0.22% |
| ILLUMINA INC SEDOL 2613990 | 0.22% |
| ZOETIS INC SEDOL B95WG16 | 0.22% |
| APOLLO GLOBAL MANAGEMENT INC SEDOL BKRLVD5 | 0.22% |
| TYSON FOODS INC-CL A SEDOL 2909730 | 0.22% |
| STANLEY BLACK & DECKER INC SEDOL B3Q2FJ4 | 0.21% |
| UBS AG REGS 05.1250 05/15/2024 | 0.21% |
| FNMA FN15 BM3058 UMBS 03.0000 12/01/2030 | 0.21% |
| ANGLO AMER PLC SEDOL B1XZS82 | 0.20% |
| EDWARDS LIFESCIENCES CORP SEDOL 2567116 | 0.20% |
| MEDICINES COMPANY SEDOL 2616773 | 0.19% |
| COMM 2014-CR18 C 04.8873 07/15/2047 | 0.19% |
| UNITED RENTALS INC SEDOL 2134781 | 0.19% |
| ROPER TECHNOLOGIES INC SEDOL 2749602 | 0.19% |
| BRISTOL-MYERS P/P 144A 03.4000 07/26/2029 | 0.18% |
| DEERE & CO SEDOL 2261203 | 0.18% |
| FHLMC FR30 ZS4703 UMBS 03.0000 02/01/2047 | 0.18% |
| ING BANK NV P/P 144A 05.8000 09/25/2023 | 0.18% |
| VERTEX PHARMACEUTICALS INC SEDOL 2931034 | 0.18% |
| ENCANA CORP SEDOL 2793193 | 0.18% |
| KOSMOS ENERGY LTD SEDOL BHK15K6 | 0.17% |
| DOUYU INTERNATIONAL HOLD-ADR SEDOL BJVJP36 | 0.17% |
| EDISON INTERNATIONAL SEDOL 2829515 | 0.17% |
| GENERAL ELECTRIC CO SEDOL 2380498 | 0.17% |
| BALL CORP SEDOL 2073022 | 0.16% |
| YELLOW CAKE PLC 144A SEDOL BF50RG4 | 0.16% |
| ALLERGAN PLC SEDOL BY9D546 | 0.16% |
| CAIRN ENERGY PLC SEDOL B74CDH8 | 0.16% |
| BRISTOL-MYERS SQUIBB CO SEDOL 2126335 | 0.16% |
| DOW INC SEDOL BHXCF84 | 0.16% |
| AIR CANADA SEDOL BSDHYK1 | 0.16% |
| TOTAL CAPITAL INTL SA USD 02.8290 01/10/2030 | 0.16% |
| SALESFORCE.COM INC 03.7000 04/11/2028 | 0.16% |
| CIT GROUP INC. 05.2500 03/07/2025 | 0.15% |
| TRANSDIGM GROUP INC SEDOL B11FJK3 | 0.15% |
| ERAC USA FINANCE LLC P/P 144A 07.0000 10/15/2037 | 0.15% |
| HARTFORD FINL SVCS GRP 06.6250 03/30/2040 | 0.15% |
| ENERGY TRANSFER OPERATNG 06.6250 02/15/2028 | 0.15% |
| LEVI STRAUSS & CO- CLASS A SEDOL BHRWS81 | 0.14% |
| 3M CO | 0.14% |
| COOPER COS INC/THE SEDOL 2222631 | 0.14% |
| CVS HEALTH CORP SEDOL 2577609 | 0.14% |
| FNMA FN30 MA2737 UMBS 03.0000 09/01/2046 | 0.14% |
| INTERPUBLIC GROUP COS 04.6500 10/01/2028 | 0.14% |
| GILEAD SCIENCES INC SEDOL 2369174 | 0.14% |
| MCKESSON CORP SEDOL 2378534 | 0.14% |
| CITIGROUP INC 04.7500 05/18/2046 | 0.13% |
| MSC 2012-C4 D P/P 144A 05.6001 03/15/2045 | 0.13% |
| FNMA FN30 BJ6741 UMBS 04.5000 05/01/2048 | 0.13% |
| CF INDUSTRIES INC P/P 144A 04.5000 12/01/2026 | 0.13% |
| FNMA FN30 AL8994 UMBS 04.0000 09/01/2045 | 0.13% |
| ARAMARK SEDOL BH3XG17 | 0.13% |
| FHLMC FR30 ZM5692 UMBS 04.0000 02/01/2048 | 0.13% |
| BJ'S WHOLESALE CLUB HOLDINGS SEDOL BFZNZF8 | 0.12% |
| AT&T INC 04.1000 02/15/2028 | 0.12% |
| KEURIG DR PEPPER INC 04.5970 05/25/2028 | 0.12% |
| COSTAR GROUP INC SEDOL 2262864 | 0.12% |
| FNMA FN30 BM1172 UMBS 03.0000 03/01/2047 | 0.12% |
| WILLIAMS COMPANIES INC 04.3000 03/04/2024 | 0.12% |
| EOG RESOURCES INC 04.1500 01/15/2026 | 0.12% |
| WEC ENERGY GROUP INC 04.2706 05/15/2067 | 0.12% |
| ECOLAB INC SEDOL 2304227 | 0.12% |
| GOLDMAN SACHS GROUP INC 04.2230 05/01/2029 | 0.12% |
| FN BF0091 | 0.12% |
| GOLDMAN SACHS GROUP INC 03.8500 01/26/2027 | 0.12% |
| DIGITAL REALTY TRUST LP 04.4500 07/15/2028 | 0.12% |
| MASS MUTUAL LIFE P/P 144A 08.8750 06/01/2039 | 0.12% |
| PRUDENTIAL FINANCIAL INC 05.2000 03/15/2044 | 0.12% |
| UNITEDHEALTH GROUP INC 03.8500 06/15/2028 | 0.12% |
| BRDCOM CRP / FIN 03.8750 01/15/2027 | 0.11% |
| IHS MARKIT LTD P/P 144A 04.7500 02/15/2025 | 0.11% |
| DIAMOND 1 FIN/DIAM P/P 144A 06.0200 06/15/2026 | 0.11% |
| ADVANCE AUTO PARTS | 0.11% |
| FNMA FN30 BC1155 UMBS 03.0000 06/01/2046 | 0.11% |
| AT&T INC 04.3500 03/01/2029 | 0.11% |
| AXA SA SEDOL 7088429 | 0.11% |
| CITIGROUP INC 04.4500 09/29/2027 | 0.11% |
| DUPONT DE NEMOURS INC SEDOL BK0VN47 | 0.11% |
| FISERV INC 04.2000 10/01/2028 | 0.11% |
| FIRSTENERGY TRANSMIS P/P 144A 05.4500 07/15/2044 | 0.11% |
| WASTE CONNECTIONS INC SEDOL BYVG1F6 | 0.11% |
| WESTROCK MWV LLC 08.2000 01/15/2030 | 0.11% |
| FNMA FN15 AS0285 UMBS 02.0000 08/01/2028 | 0.10% |
| FNMA FN15 AT8509 UMBS 02.0000 08/01/2028 | 0.10% |
| STANDARD IND INC P/P 144A 05.0000 02/15/2027 | 0.10% |
| AMAZON.COM INC 04.0500 08/22/2047 | 0.10% |
| AON PLC USD 04.2500 12/12/2042 | 0.10% |
| FAIRFAX FINL HLDGS USD 04.8500 04/17/2028 | 0.10% |
| BANCO SANTANDER SA USD 05.1790 11/19/2025 | 0.10% |
| CAMDEN PROPERTY TRUST 04.8750 06/15/2023 | 0.10% |
| NRG ENERGY INC P/P 144A 04.4500 06/15/2029 | 0.10% |
| MICROSOFT CORP 03.7000 08/08/2046 | 0.10% |
| CHARTER COMM OPT LLC 06.4840 10/23/2045 | 0.10% |
| WALT DISNEY COMP P/P 144A 07.7500 01/20/2024 | 0.10% |
| TRANSCANADA TRUST USD 05.3000 03/15/2077 | 0.10% |
| CISCO SYSTEMS INC SEDOL 2198163 | 0.09% |
| JOHNSON CONTROLS INTL PL 04.5000 02/15/2047 | 0.09% |
| MICROCHIP TECH INC 04.3330 06/01/2023 | 0.09% |
| SUMMIT MATERIALS INC -CL A SEDOL BW9JPS4 | 0.09% |
| WESTERN DIGITAL CORPORATION 04.7500 02/15/2026 | 0.09% |
| ASHTEAD CAPITAL INC P/P 144A 04.3750 08/15/2027 | 0.09% |
| WESTLAKE CHEM CORP 03.6000 08/15/2026 | 0.09% |
| BANK OF AMERICA CORP 05.1250 06/17/2049 | 0.09% |
| BIOGEN INC SEDOL 2455965 | 0.09% |
| KELLOGG CO SEDOL 2486813 | 0.09% |
| TELEFONICA EMISIONES SAU USD 04.8950 03/06/2048 | 0.09% |
| AVERY DENNISON CORP SEDOL 2066408 | 0.09% |
| SIRIUS XM RADIO INC P/P 144A 05.0000 08/01/2027 | 0.09% |
| AMERICAN INTL GROUP 08.1750 05/15/2058 | 0.08% |
| BPCE SA P/P 144A 04.5000 03/15/2025 | 0.08% |
| BURLINGTON STORES INC SEDOL BF311Y5 | 0.08% |
| PACKAGING CORP OF AMERICA SEDOL 2504566 | 0.08% |
| FNMA FN30 AU1625 UMBS 03.5000 07/01/2043 | 0.08% |
| GLENCORE FUNDING LLC P/P 144A 04.6250 04/29/2024 | 0.08% |
| OSHKOSH CORP 04.6000 05/15/2028 | 0.08% |
| COMM 2012-CR1 AM 03.9120 05/15/2045 | 0.08% |
| FIDELITY NATL INFO SERV 03.7500 05/21/2029 | 0.08% |
| GNMA GII30 BK3755 05.0000 02/20/2049 | 0.08% |
| WASTE CONNECTIONS INC 03.5000 05/01/2029 | 0.08% |
| FNMA FN30 BN2701 UMBS 04.5000 11/01/2048 | 0.08% |
| GNMA GII30 TBA 05.0000 10/01/2049 | 0.08% |
| NUTRIEN LTD. USD 04.2000 04/01/2029 | 0.08% |
| OPORTUN FIN CORP P/P | 0.08% |
| ALIMENTATION COUCHE-TARD 3.550000 07/26/2027 | 0.08% |
| CONCHO RESOURCES INC 03.7500 10/01/2027 | 0.08% |
| FEDEX CORP SEDOL 2142784 | 0.08% |
| FNMA FN30 TBA UMBS 03.0000 10/01/2049 | 0.08% |
| L3HARRIS TECH INC P/P 144A 03.8500 12/15/2026 | 0.08% |
| CAS 2016-C01 1M2 08.7684 08/25/2028 | 0.07% |
| SABINE PASS LIQUEF 05.0000 03/15/2027 | 0.07% |
| BERKSHIRE HATHAWAY FIN 04.3000 05/15/2043 | 0.07% |
| FNMA FN15 AS0001 UMBS 02.0000 07/01/2028 | 0.07% |
| JPMORGAN CHASE & CO 05.3000 12/29/2049 | 0.07% |
| NORTHROP GRUMMAN CORP 03.2500 01/15/2028 | 0.07% |
| BPCE SA P/P 144A 05.1500 07/21/2024 | 0.07% |
| CANTOR FITZGERALD LP P/P 144A 06.5000 06/17/2022 | 0.07% |
| HILTON WORLDWIDE FIN LLC 04.8750 04/01/2027 | 0.07% |
| FNMA FN30 AL6919 UMBS 05.5000 01/01/2038 | 0.06% |
| AUTONATION INC. 05.5000 02/01/2020 | 0.06% |
| LAMB WESTON HOLDINGS P/P 144A 04.8750 11/01/2026 | 0.06% |
| COMM 2013-CR13 AM 04.4490 11/10/2046 | 0.06% |
| SHIRE ACQ INV IE 03.2000 09/23/2026 | 0.06% |
| AMGEN INC 04.6630 06/15/2051 | 0.06% |
| SHERWIN-WILLIAMS CO 03.4500 06/01/2027 | 0.06% |
| ULTA BEAUTY INC SEDOL B28TS42 | 0.06% |
| AIR LEASE CORP 03.6250 04/01/2027 | 0.06% |
| BP CAP MARKETS AMERICA 03.1190 05/04/2026 | 0.06% |
| COMMONWEALTH EDISON CO 05.8750 02/01/2033 | 0.06% |
| CREDIT SUISSE AG P/P 144A 06.5000 08/08/2023 | 0.06% |
| FNMA FN30 BC1489 UMBS 03.0000 08/01/2046 | 0.06% |
| COMCAST CABLE COMMUNICAT 09.4550 11/15/2022 | 0.06% |
| EQUINIX INC 05.3750 05/15/2027 | 0.06% |
| TORONTO-DOMINION BANK USD 03.6250 09/15/2031 | 0.06% |
| ZOETIS INC 03.9000 08/20/2028 | 0.06% |
| BANK OF AMERICA CORP 06.1100 01/29/2037 | 0.06% |
| JPMCC 2012-C6 D 05.3187 05/15/2045 | 0.06% |
| VODAFONE GROUP PLC USD 04.3750 05/30/2028 | 0.06% |
| WEYERHAEUSER CO 07.3750 03/15/2032 | 0.06% |
| BP CAP MARKETS AMERICA 03.9370 09/21/2028 | 0.06% |
| FNMA FN30 BC1445 UMBS 03.0000 07/01/2046 | 0.06% |
| MARSH & MCLENNAN COS INC 04.3750 03/15/2029 | 0.06% |
| ROYAL BK SCOTLND GRP PLC USD 04.8920 05/18/2029 | 0.06% |
| ALPHABET INC 01.9980 08/15/2026 | 0.06% |
| ARCHER-DANIELS-MIDLAND CO SEDOL 2047317 | 0.06% |
| BMW US CAPITAL LLC P/P 144A 03.9500 08/14/2028 | 0.06% |
| CVS HEALTH CORP 03.7000 03/09/2023 | 0.06% |
| GNMA GII30 BE2222 03.5000 01/20/2048 | 0.06% |
| KINDER MORGAN INC 03.1500 01/15/2023 | 0.06% |
| WESTPAC BANKING CORP USD 04.4210 07/24/2039 | 0.06% |
| WILLIS TOWERS WATSON PLC USD 05.7500 03/15/2021 | 0.06% |
| AMERICAN TOWER CORP 03.5500 07/15/2027 | 0.05% |
| GLENCORE FUNDING LLC P/P 144A 04.0000 04/16/2025 | 0.05% |
| GNMA GII30 711724 03.5000 02/20/2043 | 0.05% |
| APPALACHIAN POWER CO 05.8000 10/01/2035 | 0.05% |
| CELANESE US HOLDINGS LLC 04.6250 11/15/2022 | 0.05% |
| EQUINOR ASA USD 05.1000 08/17/2040 | 0.05% |
| ERAC USA FINANCE LLC P/P 144A 05.6250 03/15/2042 | 0.05% |
| AMAZON.COM INC 03.1500 08/22/2027 | 0.05% |
| FNMA FN15 AB6335 UMBS 02.0000 10/01/2027 | 0.05% |
| CVS PASS-THRU TRUST P/P 144A 07.5070 01/10/2032 | 0.05% |
| EMIR 2018-1 M1 03.7184 11/25/2028 | 0.05% |
| INTL FLAVOR & FRAGRANCES 04.4500 09/26/2028 | 0.05% |
| LEAR CORP 03.8000 09/15/2027 | 0.05% |
| CBS CORP 04.6000 01/15/2045 | 0.05% |
| COMCAST CORP 03.9990 11/01/2049 | 0.05% |
| COX COMM INC P/P 144A 03.5000 08/15/2027 | 0.05% |
| EL PASO NATURAL GAS 08.3750 06/15/2032 | 0.05% |
| GNMA GII30 BI6858 04.5000 03/20/2049 | 0.05% |
| CVS PASS-THROUGH P/P 144A 04.7040 01/10/2036 | 0.05% |
| LEGRAND FRANCE USD 08.5000 02/15/2025 | 0.05% |
| NRG P/P 144A 03.7500 06/15/2024 | 0.05% |
| WELLS FARGO & COMPANY 05.8750 12/29/2049 | 0.05% |
| CBRE SERVICES INC 04.8750 03/01/2026 | 0.04% |
| ENTERPRISE PRODUCTS OPER 04.2500 02/15/2048 | 0.04% |
| PENSKE TRUCK LE P/P 144A 03.4000 11/15/2026 | 0.04% |
| S&P GLOBAL INC 04.4000 02/15/2026 | 0.04% |
| WALGREENS BOOTS ALLIANCE 03.4500 06/01/2026 | 0.04% |
| AMERICAN ELECTRIC POWER 04.3000 12/01/2028 | 0.04% |
| DUKE ENERGY CAROLINAS 04.2500 12/15/2041 | 0.04% |
| GNMA GII30 BE2219 03.5000 01/20/2048 | 0.04% |
| BB&T CORPORATION 04.8000 12/31/2099 | 0.04% |
| CROWN CASTLE INTL CORP 03.6500 09/01/2027 | 0.04% |
| FNMA FN30 CA0341 UMBS 04.0000 09/01/2047 | 0.04% |
| GNMA GII30 BE2220 03.5000 01/20/2048 | 0.04% |
| L3HARRIS TECH INC P/P 144A 04.4000 06/15/2028 | 0.04% |
| N TX HWY-TXB-B 06.7180 01/01/2049 | 0.04% |
| FISERV INC 03.5000 07/01/2029 | 0.04% |
| FNMA FN30 AB7936 UMBS 03.0000 02/01/2043 | 0.04% |
| ONCOR ELECTRIC DELI 05.7500 03/15/2029 | 0.04% |
| TARGA RESOURCES PART 05.0000 01/15/2028 | 0.04% |
| ALLY FINANCIAL INC 05.7500 11/20/2025 | 0.04% |
| APPLE INC 03.8500 05/04/2043 | 0.04% |
| CGCMT 2014-GC21 AS 04.0260 05/10/2047 | 0.04% |
| CHARTER COMM OPT LLC 05.3750 05/01/2047 | 0.04% |
| ENERGY TRAN PTNR 07.6000 02/01/2024 | 0.04% |
| LLOYDS BANKING GROUP PLC USD 04.5000 11/04/2024 | 0.04% |
| CGCMT 2014-GC21 C 04.7800 05/10/2047 | 0.04% |
| FIDELITY NATIONAL INFORM 04.2500 05/15/2028 | 0.04% |
| FNMA FN15 AP6055 UMBS 02.0000 07/01/2028 | 0.04% |
| GNMA GII30 673972 03.0000 08/20/2046 | 0.04% |
| ORACLE CORP 02.6500 07/15/2026 | 0.04% |
| BECTON DICKINSON AND CO 03.7000 06/06/2027 | 0.04% |
| COMM 2012-LC4 C 05.7222 12/10/2044 | 0.04% |
| HCA INC 04.1250 06/15/2029 | 0.04% |
| HCA INC 05.0000 03/15/2024 | 0.04% |
| VIDEOTRON LTD / LTEE P/P 144A 05.1250 04/15/2027 | 0.04% |
| VISTRA OPERATION P/P 144A 03.5500 07/15/2024 | 0.04% |
| COMCAST CORP 03.1500 03/01/2026 | 0.04% |
| FNMA FN30 AS9415 UMBS 04.0000 04/01/2047 | 0.04% |
| GNMA 10000 BD7925 03.5000 11/20/2047 | 0.04% |
| GNMA GII30 BE1441 03.5000 11/20/2047 | 0.04% |
| HMIR 2018-1 M1 P/P 144A 03.6184 10/25/2028 | 0.04% |
| SHIRE ACQ INV IRELAND DA USD 02.8750 09/23/2023 | 0.04% |
| CROWN CASTLE INTL CORP 03.8000 02/15/2028 | 0.04% |
| FNMA FN30 AB9369 UMBS 03.5000 05/01/2043 | 0.04% |
| SPRINT SPECTRUM P/P 144A 03.3600 09/20/2021 | 0.04% |
| CAPITAL ONE BANK USA NA 03.3750 02/15/2023 | 0.04% |
| CREDIT SUISSE GRP AG P/P 144A 03.8690 01/12/2029 | 0.04% |
| FHLMC FR30 ZA4202 UMBS 03.0000 03/01/2043 | 0.04% |
| FNMA FN30 AS8056 UMBS 03.0000 10/01/2046 | 0.04% |
| FNMA FN30 AY0773 UMBS 03.5000 03/01/2045 | 0.04% |
| FOX CORP P/P 144A 04.0300 01/25/2024 | 0.04% |
| CBS CORP 02.9000 01/15/2027 | 0.03% |
| ENBRIDGE INC USD 04.2500 12/01/2026 | 0.03% |
| FIVE CORNERS FUNDING P/P 144A 04.4190 11/15/2023 | 0.03% |
| SANTANDER UK PLC P/P 144A 05.0000 11/07/2023 | 0.03% |
| VISTRA OPERATION P/P 144A 04.3000 07/15/2029 | 0.03% |
| FHLMC FR30 ZS9547 UMBS 04.0000 09/01/2045 | 0.03% |
| FNMA FN30 AT2746 UMBS 03.5000 05/01/2043 | 0.03% |
| GNMA GII30 AT9856 03.0000 10/20/2046 | 0.03% |
| OMNICOM GP/OMNICOM CAP 03.6000 04/15/2026 | 0.03% |
| SUMITOMO MITSUI P/P 144A 04.4360 04/02/2024 | 0.03% |
| CHENIERE CORP CHRIST 05.1250 06/30/2027 | 0.03% |
| AES CORP/THE 05.1250 09/01/2027 | 0.03% |
| APPLE INC 04.3750 05/13/2045 | 0.03% |
| JPMCC 2012-C8 D P/P 144A 04.8070 10/15/2045 | 0.03% |
| QVC INC 04.8500 04/01/2024 | 0.03% |
| AMERICAN TOWER CORP 03.3750 10/15/2026 | 0.03% |
| BANK OF MONTREAL USD 03.8030 12/15/2032 | 0.03% |
| BMW US CAPITAL LLC P/P 144A 03.4000 08/13/2021 | 0.03% |
| FNMA FN15 MA1542 UMBS 02.0000 08/01/2028 | 0.03% |
| CBS CORP 04.2000 06/01/2029 | 0.03% |
| TEACHERS INSUR & ANN P/P 144A 06.8500 12/16/2039 | 0.03% |
| VMWARE INC 03.9000 08/21/2027 | 0.03% |
| COMCAST CORP 06.5000 11/15/2035 | 0.03% |
| FNMA FN15 AB7525 UMBS 02.0000 01/01/2028 | 0.03% |
| GNMA GII30 BE1437 03.5000 11/20/2047 | 0.03% |
| GNMA GII30 BE2221 03.5000 01/20/2048 | 0.03% |
| GOLDMAN SACHS GROUP INC 06.7500 10/01/2037 | 0.03% |
| STACR 2014-HQ2 M2 04.2184 09/25/2024 | 0.03% |
| AIR LEASE CORP 04.6250 10/01/2028 | 0.03% |
| DIAMOND 1 FIN/DIAMON P/P 144A 08.3500 07/15/2046 | 0.03% |
| EQT AB SEDOL BJ7W9K4 | 0.03% |
| FNMA FN15 MA1346 UMBS 02.0000 02/01/2028 | 0.03% |
| IHS MARKIT LTD P/P 144A 04.0000 03/01/2026 | 0.03% |
| OH UNIV-TXB-C-BABS 04.9100 06/01/2040 | 0.03% |
| BANK OF AMERICA CORP 06.1000 12/29/2049 | 0.03% |
| CREDIT AGRICOLE SA P/P 144A 04.0000 01/10/2033 | 0.03% |
| FAIRFAX US INC P/P 144A 04.8750 08/13/2024 | 0.03% |
| FNMA FN15 AB7707 UMBS 02.0000 01/01/2028 | 0.03% |
| IPALCO ENTPRS IN 03.7000 09/01/2024 | 0.03% |
| ROYAL BANK OF CANADA USD 04.6500 01/27/2026 | 0.03% |
| ANHEUSER-BUSCH INBEV WOR 04.7500 01/23/2029 | 0.02% |
| CA TXB-VAR PURP 07.5000 04/01/2034 | 0.02% |
| CROWN CASTLE INTL CORP 04.8750 04/15/2022 | 0.02% |
| FNMA FN30 BD9043 UMBS 04.0000 06/01/2047 | 0.02% |
| LLOYDS BANKING GROUP PLC USD 04.6500 03/24/2026 | 0.02% |
| LUKOIL INTL FIN BV P/P 144A 04.5630 04/24/2023 | 0.02% |
| FNMA FN30 AS8074 UMBS 03.0000 10/01/2046 | 0.02% |
| FNMA FN30 BD9047 UMBS 04.0000 07/01/2047 | 0.02% |
| ANHEUSER-BUSCH INBEV WOR 05.5500 01/23/2049 | 0.02% |
| DUKE ENERGY OHIO INC 03.6500 02/01/2029 | 0.02% |
| FNMA FN30 AS9978 UMBS 04.0000 07/01/2047 | 0.02% |
| GNMA GII30 BE5899 03.5000 01/20/2048 | 0.02% |
| HCA INC 05.5000 06/15/2047 | 0.02% |
| HSBC BANK USA NA 05.6250 08/15/2035 | 0.02% |
| CELANESE US HOLDINGS LLC 03.5000 05/08/2024 | 0.02% |
| CHARTER COMM OPT LLC 04.9080 07/23/2025 | 0.02% |
| COOPERATIEVE RABOBANK UA USD 03.7500 07/21/2026 | 0.02% |
| FNMA FN30 734836 05.0000 08/01/2033 | 0.02% |
| GENERAL MOTORS FINL CO 04.0000 10/06/2026 | 0.02% |
| GNMA GII30 BC0462 03.5000 10/20/2047 | 0.02% |
| GNMA GII30 BE1440 03.5000 11/20/2047 | 0.02% |
| GNMA GII30 OBD1715 03.5000 11/20/2047 | 0.02% |
| AVIATION CAPITAL GRP P/P 144A 07.1250 10/15/2020 | 0.02% |
| CON EDISON CO OF NY INC 04.2000 03/15/2042 | 0.02% |
| ENERGY TRANSFER OPERATNG 05.2000 02/01/2022 | 0.02% |
| GNMA 10000 BD7924 03.5000 11/20/2047 | 0.02% |
| GNMA GII30 BA8386 03.5000 10/20/2047 | 0.02% |
| GNMA GII30 BA8388 03.5000 10/20/2047 | 0.02% |
| GNMA GII30 OBD1716 03.5000 11/20/2047 | 0.02% |
| WILLIAMS COMPANIES INC 03.6000 03/15/2022 | 0.02% |
| AMGEN INC 02.6000 08/19/2026 | 0.02% |
| AUTONATION INC 04.5000 10/01/2025 | 0.02% |
| BANK OF AMERICA CORP 02.8785 09/15/2026 | 0.02% |
| COOPERATIEVE RABOBANK UA USD 04.6250 12/01/2023 | 0.02% |
| ANHEUSER-BUSCH INBEV WOR 04.1500 01/23/2025 | 0.02% |
| APPLE INC 03.4500 05/06/2024 | 0.02% |
| BG ENERGY CAP PLC P/P 144A 04.0000 10/15/2021 | 0.02% |
| CAS 2017-C01 1EB1 03.2684 07/25/2029 | 0.02% |
| CC HLDG GS V LLC/CRO 03.8490 04/15/2023 | 0.02% |
| CIT BANK NA 02.9690 09/27/2025 | 0.02% |
| CNO FINANCIAL GROUP INC 05.2500 05/30/2025 | 0.02% |
| FHLMC FR30 ZL4505 UMBS 03.5000 12/01/2042 | 0.02% |
| FHLMC FR30 ZS3713 UMBS 03.5000 04/01/2043 | 0.02% |
| FNMA FN30 995023 05.5000 08/01/2037 | 0.02% |
| FNMA FN30 AS7561 UMBS 04.0000 06/01/2046 | 0.02% |
| GENERAL MOTORS FINL CO 04.3000 07/13/2025 | 0.02% |
| GNMA GII30 AW5280 03.0000 10/20/2046 | 0.02% |
| WESTROCK MWV LLC 07.9500 02/15/2031 | 0.02% |
| BMIR 2017-1 M1 P/P 144A 03.7184 10/25/2027 | 0.02% |
| CAPITAL ONE FINANCIAL CO 04.2000 10/29/2025 | 0.02% |
| FNMA FN30 AS4073 UMBS 04.0000 12/01/2044 | 0.02% |
| ROGERS COMMUNICATIONS IN USD 04.5000 03/15/2043 | 0.02% |
| SABMILLER HLDG INC 04.9500 01/15/2042 | 0.02% |
| FNMA FN30 BD9038 UMBS 04.0000 05/01/2047 | 0.02% |
| KINDER MORGAN ENER PART 05.4000 09/01/2044 | 0.02% |
| SERVICE PROPERTIES TRUST 04.3750 02/15/2030 | 0.02% |
| AUST & NZ BANKING GR P/P 144A 06.7500 12/29/2049 | 0.02% |
| CBRE SERVICES INC 05.2500 03/15/2025 | 0.02% |
| CBS CORP 04.0000 01/15/2026 | 0.02% |
| CROWN CASTLE INTL CORP 04.7500 05/15/2047 | 0.02% |
| FIFTH THIRD BANCORP 05.1000 12/29/2049 | 0.02% |
| FNMA FN30 555591 05.5000 07/01/2033 | 0.02% |
| FNMA FN30 BD9031 UMBS 04.0000 03/01/2047 | 0.02% |
| HILTON DOMESTIC OPERATIN 04.2500 09/01/2024 | 0.02% |
| JPMORGAN CHASE & CO 06.1000 02/01/2049 | 0.02% |
| MARATHON PETRO CORP 06.5000 03/01/2041 | 0.02% |
| FNMA FN30 BD9052 UMBS 04.0000 08/01/2047 | 0.02% |
| GNMA GII30 BA8385 03.5000 10/20/2047 | 0.02% |
| KEURIG DR PEPPER INC 04.4170 05/25/2025 | 0.02% |
| ROYAL BK SCOTLND GRP PLC USD 03.8750 09/12/2023 | 0.02% |
| ALLERGAN FUNDING SCS USD 03.4500 03/15/2022 | 0.01% |
| CNH/USD 11/20/2019 HSBCB | 0.01% |
| FIRSTENERGY CORP 04.8500 07/15/2047 | 0.01% |
| GNMA GII30 BB3013 03.5000 11/20/2047 | 0.01% |
| GNMA GII30 BB3019 03.5000 11/20/2047 | 0.01% |
| GNMA GII30 BC0460 03.5000 10/20/2047 | 0.01% |
| GNMA GII30 BC0461 03.5000 10/20/2047 | 0.01% |
| GNMA GII30 BE5897 03.5000 10/20/2047 | 0.01% |
| SABINE PASS LIQUEFACTION 04.2000 03/15/2028 | 0.01% |
| SERVICE CORPORATION INTL 04.6250 12/15/2027 | 0.01% |
| FNMA FN30 AA0839 UMBS 05.0000 01/01/2039 | 0.01% |
| FNMA FN30 AS8974 UMBS 04.0000 03/01/2047 | 0.01% |
| FNMA FN30 AX5534 UMBS 04.0000 06/01/2046 | 0.01% |
| GENERAL MOTORS FINL CO 04.0000 01/15/2025 | 0.01% |
| PRUDENTIAL FINANCIAL INC 05.6250 06/15/2043 | 0.01% |
| AXA SA P/P 144A 06.3790 12/29/2049 | 0.01% |
| BGC PARTNERS INC 05.1250 05/27/2021 | 0.01% |
| CAS 2016-C02 1M2 08.0184 09/25/2028 | 0.01% |
| ENERGY TRANSFER OPERATNG 06.2500 04/15/2049 | 0.01% |
| FNMA FN30 995018 05.5000 06/01/2038 | 0.01% |
| GNMA GII30 AT8064 03.0000 08/20/2046 | 0.01% |
| HCA INC 05.2500 06/15/2026 | 0.01% |
| AT&T INC 04.7500 05/15/2046 | 0.01% |
| FNMA FN30 889982 05.5000 11/01/2038 | 0.01% |
| PPL CAPITAL FUNDING INC 04.2000 06/15/2022 | 0.01% |
| TIAAC 2003-1A E 144A 08.0000 12/28/2038 | 0.01% |
| WESTLAKE CHEMICAL CORP 04.3750 11/15/2047 | 0.01% |
| ROGERS COMMUNICATIONS IN USD 08.7500 05/01/2032 | 0.01% |
| AIR LEASE CORP 03.2500 10/01/2029 | 0.01% |
| QUEST DIAGNOSTICS INC 04.7500 01/30/2020 | 0.01% |
| GNMA GII30 BC0459 03.5000 10/20/2047 | 0.01% |
| GNMA GII30 BE5896 03.5000 10/20/2047 | 0.01% |
| GNMA GII30 BE5898 03.5000 10/20/2047 | 0.01% |
| GNMA GII30 OBD1714 03.5000 11/20/2047 | 0.01% |
| HILTON DOMESTIC P/P 144A 04.8750 01/15/2030 | 0.01% |
| HSBC USA INC 03.5000 06/23/2024 | 0.01% |
| KKR GR FIN CO P/P 144A 03.7500 07/01/2029 | 0.01% |
| GNMA GII30 BD3297 03.5000 11/20/2047 | 0.01% |
| GNMA GN30 AZ3486 03.5000 11/15/2047 | 0.01% |
| GNMA GN30 AZ3487 03.5000 11/15/2047 | 0.01% |
| CROWN CASTLE INTL CORP 03.1500 07/15/2023 | 0.01% |
| AT&T INC 02.9500 07/15/2026 | 0.00% |
| CNH/USD 11/20/2019 JPMCB | 0.00% |
| FIDELITY NATIONAL INFORM 03.0000 08/15/2026 | 0.00% |
| FIRSTENERGY CORP 03.9000 07/15/2027 | 0.00% |
| CAD/USD 10/16/2019 GSFX | 0.00% |
| CAD/USD 10/16/2019 CITI | 0.00% |
| CAD/USD 10/16/2019 JPMCB | 0.00% |
| WALT DISNEY COMPAN P/P 144A 04.7500 09/15/2044 | 0.00% |
| CAD/USD 10/16/2019 BCAP-FX | 0.00% |
| EUR/USD 12/18/2019 CITI | 0.00% |
| CITIGROUP INC 03.6680 07/24/2028 | 0.00% |
| INTERNATIONAL PAPER CO 08.7000 06/15/2038 | 0.00% |
| FHLMC FR30 ZS0858 UMBS 06.0000 03/01/2035 | 0.00% |
| FNR 2001-79 BI IO 00.2761 03/25/2045 | 0.00% |
| FPLUS 1997-3 B1 07.7900 11/10/2023 | 0.00% |
| GBP/USD 12/18/2019 BCAP-FX | -0.00% |
| GBP/USD 12/18/2019 CITI | -0.00% |
| GBP/USD 12/18/2019 GSFX | -0.00% |
| GBP/USD 12/18/2019 BANKAM | -0.00% |
| GNMA GII30 TBA 04.0000 10/01/2049 | -0.39% |
Prior top 10 holdings
| Top 10 holdings as of 09/30/19 | |
|---|---|
| Microsoft | |
| Alphabet | |
| Amazon | |
| Us Treasury N/B 01.6250 10/31/2023 | |
| Us Treasury N/B 02.7500 08/15/2042 | |
| Us Treasury N/B 02.2500 02/15/2021 | |
| Apple | |
| Us Treasury N/B 01.7500 06/30/2022 | |
| Us Treasury N/B 02.1250 12/31/2022 | |
| Us Treasury N/B 03.0000 02/15/2047 | |
| Holdings represent 18.10% of portfolio | |
| Top 10 holdings as of 08/31/19 | |
|---|---|
| Microsoft | |
| Alphabet | |
| Amazon | |
| Us Treasury N/B 02.7500 08/15/2042 | |
| Us Treasury N/B 02.2500 02/15/2021 | |
| Apple | |
| Us Treasury N/B 01.7500 06/30/2022 | |
| Us Treasury N/B 03.0000 02/15/2047 | |
| Procter & Gamble Co | |
| Holdings represent 17.54% of portfolio | |
| Top 10 holdings as of 07/31/19 | |
|---|---|
| Microsoft | |
| Alphabet | |
| Amazon | |
| Apple | |
| Us Treasury N/B 02.2500 02/15/2021 | |
| Us Treasury N/B 02.7500 08/15/2042 | |
| Procter & Gamble | |
| Us Treasury N/B 01.7500 06/30/2022 | |
| Bank of America | |
| Holdings represent 17.35% of portfolio | |
| Top 10 holdings as of 06/30/19 | |
|---|---|
| Microsoft | |
| Amazon | |
| Alphabet | |
| Us Treasury N/B 02.2500 02/15/2021 | |
| Us Treasury N/B 02.7500 08/15/2042 | |
| Apple | |
| Us Treasury N/B 01.7500 06/30/2022 | |
| Procter & Gamble Co | |
| Bank of America | |
| Holdings represent 17.04% of portfolio | |
Portfolio composition as of 09/30/19
| Common stock | 59.67% |
|---|---|
| Corporate bonds and notes | 14.08% |
| Treasury | 13.23% |
| Agency pass-through | 8.25% |
| Cash and net other assets | 3.71% |
| Commercial MBS | 0.69% |
| Residential MBS (non-agency) | 0.24% |
| Municipal bonds | 0.10% |
| Emerging-market bonds | 0.03% |
Fixed income statistics as of 09/30/19
| Average effective maturity | 7.71 yrs. |
|---|---|
| Average effective duration | 5.46 yrs. |
Maturity detail as of 09/30/19
| 0 - 1 yr. | 4.29% |
|---|---|
| 1 - 5 yrs. | 51.91% |
| 5 - 10 yrs. | 25.85% |
| 10 - 15 yrs. | 2.14% |
| Over 15 yrs. | 15.81% |
Quality rating as of 09/30/19
| AAA | 57.33% |
|---|---|
| AA | 3.14% |
| A | 13.26% |
| BBB | 20.38% |
| BB | 1.88% |
| CCC and Below | 0.03% |
| Not Rated | 3.98% |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: The value of investments in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, asset class, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. 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). Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally 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.
Top industry sectors as of 09/30/19
| Information technology | 17.61% |
|---|---|
| Financials | 13.09% |
| Health care | 13.09% |
| Consumer discretionary | 11.04% |
| Communication services | 10.96% |
| Industrials | 9.20% |
| Consumer staples | 7.68% |
| Utilities | 4.42% |
| Energy | 4.13% |
| Other | 8.78% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time.
Represents the equity portion of the portfolio.
Expenses
Expense ratio |
Class A | Class B | Class C | Class M | Class R | Class R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|---|
| Total expense ratio | 0.99% | 1.74% | 1.74% | 1.49% | 1.24% | 0.73% | 0.63% | 0.74% |
| What you pay | 0.99% | 1.74% | 1.74% | 1.49% | 1.24% | 0.73% | 0.63% | 0.74% |
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. | 1.00% | 5.00% | 1.00% | -- | -- | -- | -- | -- |
| 2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- | -- | -- |
| 3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- | -- | -- |
| 4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- | -- | -- |
| 5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- | -- | -- |
| 6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- | -- | -- |
| 7+ yrs. | 0.00% | 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: The value of investments in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, asset class, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. 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). Interest-rate risk is generally greater for longer-term bonds, and credit risk is generally 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.