Short-Term Bond Fund
Investment Objective and Strategy
Is this fund a good choice for me?
The Short-Term Bond Fund may be appropriate if you’re seeking a little more interest income from your savings than you’d earn in a traditional savings account. You’re also comfortable with potential fluctuations in your account balance based on the performance of the underlying bonds.
Investment objective and strategy
The fund seeks a high level of income consistent with maintaining minimum fluctuation of principal by investing in high-quality, short-term debt securities. These investments include: commercial paper; corporate bonds; U.S. Treasury securities; securities issued or guaranteed by U.S. government entities, agencies or instrumentalities; municipal bonds; U.S. dollar-denominated debt securities of foreign issuers (Yankee bonds); and asset-backed and mortgage-backed securities. The average maturity of the portfolio, under normal circumstances, is expected to be three years or less.
Fund Profile
| Inception | November 05, 1991 |
|---|---|
| Asset Allocation | Bond |
| Benchmark | ICE BofA 1-5 Year Corp./Gov. Index |
| Ticker Symbol | HOSBX |
| CUSIP Number | 437769300 |
| Fee Structure | No Load |
| Expense Ratio | 0.76% (12/31/2023) |
| Median Expense Ratio for Peer Group | 0.75% (12/31/2023) |
| Transaction Fees | NONE |
| 30-Day SEC Yield | 4.22% (7/31/2024) |
Performance
Total Returns
As of 6/30/2024
Growth of $10,000
The line chart is a comparison of the change in value of a $10,000 investment in the fund and the ICE BofA 1-5 Year Corp./Gov. Index over a 10-year period. The chart represents past performance, which is no guarantee of future results. Current performance may be higher or lower than that shown above. Returns and the principal value of your investment will fluctuate such that shares, when redeemed, may be worth more or less than their original cost. The fund’s average annual total returns are net of any fee waivers and reimbursements. Returns do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares.
Industry Rankings
For the month ending 06/30/2024
Morningstar |
|
| Category | Short-Term Bond |
|---|---|
| Rating* |
★★★
|
*Overall, out of 522 funds, according to risk-adjusted return
Share Price History
As of 09/06/2024
The chart plots daily share prices for the last 10 years. The interactive calendar will retrieve the share price for any business day since the fund's inception.
Composition
Security Weightings
As of 6/30/2024
Portfolio Characteristics
As of 6/30/2024
| Net Assets | $433,162,274 |
|---|---|
| Number of Holdings | 279 |
| Weighted Average Maturity | 2.84 years |
| Duration | 2.42 years |
Distributions
Income and/or capital gains distributions for this fund, if any, are listed in the table below for the current and previous calendar year. Mutual funds are required to pass through to their shareholders substantially all of the interest income and capital gains earned by the fund during the year. These distributions are paid on a regular schedule as shown in the table below.
2024 Earnings Distribution
| Distribution Type | Record Date | Declaration Date | $/Per Share |
|---|---|---|---|
| Ordinary Income | Daily | 1/31/24 | $0.0142 |
| Ordinary Income | Daily | 2/29/24 | $0.0147 |
| Ordinary Income | Daily | 3/28/24 | $0.0153 |
| Ordinary Income | Daily | 4/30/24 | $0.0156 |
| Ordinary Income | Daily | 5/31/24 | $0.0153 |
| Ordinary Income | Daily | 6/28/24 | $0.0159 |
| Ordinary Income | Daily | 7/31/24 | $0.0166 |
2023 Earnings Distribution
| Distribution Type | Record Date | Declaration Date | $/Per Share |
|---|---|---|---|
| Ordinary Income | Daily | 1/31/23 | $0.0111 |
| Ordinary Income | Daily | 2/28/23 | $0.0109 |
| Ordinary Income | Daily | 3/31/23 | $0.0127 |
| Ordinary Income | Daily | 4/30/23 | $0.0123 |
| Ordinary Income | Daily | 5/31/23 | $0.0123 |
| Ordinary Income | Daily | 6/30/23 | $0.0124 |
| Ordinary Income | Daily | 7/31/23 | $0.013 |
| Ordinary Income | Daily | 8/31/23 | $0.0137 |
| Ordinary Income | Daily | 9/29/23 | $0.0139 |
| Ordinary Income | Daily | 10/31/23 | $0.0142 |
| Ordinary Income | Daily | 11/30/23 | $0.0145 |
| Ordinary Income | Daily | 12/29/23 | $0.0142 |
The record date is the date on which you must be a shareholder in order to receive a portion of the fund’s distribution.
The declaration date, typically the business day after the record date, is the date the amount of the distribution is announced and deducted from fund assets. On this day, the amount of the distribution is deducted from fund assets and calculated as a per share amount to be passed through to shareholders. The fund’s share price will decline by the amount of the distribution (plus or minus any share price change related to market activity). The following business day, shareholders will see their portion of the distribution posted to their account as either a cash dividend or dividend reinvestment.
Portfolio Management
Debt securities are subject to interest rate risk, credit risk, extension risk, income risk, issuer risk and market risk. The value of U.S. government securities can decrease due to, among other factors, changes in interest rates or changes to the financial condition or credit rating of the U.S. Government. Investments in asset-backed and mortgage-backed securities are also subject to prepayment risk, as well as increased susceptibility to adverse economic developments. High-yield, lower-rated, securities involve greater risk than higher-rated securities.