Short-Term Government Securities Fund
Investment Objective and Strategy
Is this fund a good choice for me?
The Short-Term Government Securities 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 based on the performance of the underlying bonds.
Investment objective and strategy
The fund seeks a high level of current income from investments in securities backed by the full faith and credit of the U.S. government. These investments include: U.S. Treasuries, securities issued by U.S. government agencies, and other securities whose principal and interest payments are guaranteed by the U.S. government. The average maturity of the portfolio, under normal circumstances, is expected to be three years or less.
Fund Profile
| Inception | May 01, 1995 |
|---|---|
| Asset Allocation | Bond |
| Benchmark | ICE BofA 1-5 Year U.S. Treasury Index |
| Ticker Symbol | HOSGX |
| CUSIP Number | 437769409 |
| Fee Structure | No Load |
| Expense Ratio | 0.80% (Net 0.75%) (12/31/2022) |
| Median Expense Ratio for Peer Group | 0.91% (12/31/2022) |
| Fee Waiver | Contractual through 4/30/2024 |
| Transaction Fees | NONE |
| 30-Day SEC Yield | 3.54% (8/31/2023) |
Performance
Total Returns
As of 6/30/2023
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 U.S. Treasury 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 06/30/2023
Morningstar |
|
| Category | Short Government |
|---|---|
| Rating* |
★★★
|
*Overall, out of 87 funds, according to risk-adjusted return
Lipper |
|
| Classification | Short U.S. Government |
|---|---|
| preservation1 | 5 |
1Overall, out of 6,270 funds, according to historical loss avoidance
Share Price History
As of 09/29/2023
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 6/30/2023
Portfolio Characteristics
As of 6/30/2023
| Net Assets | $61,251,548 |
|---|---|
| Number of Holdings | 78 |
| Weighted Average Maturity | 2.72 years |
| Duration | 2.43 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.
2023 Earnings Distribution
| Distribution Type | Record Date | Declaration Date | $/Per Share |
|---|---|---|---|
| Ordinary Income | Daily | 1/31/23 | $0.0076 |
| Ordinary Income | Daily | 2/28/23 | $0.0077 |
| Ordinary Income | Daily | 3/31/23 | $0.0100 |
| Ordinary Income | Daily | 4/30/23 | $0.0097 |
| Ordinary Income | Daily | 5/31/23 | $0.0094 |
| Ordinary Income | Daily | 6/30/23 | $0.0100 |
| Ordinary Income | Daily | 7/31/23 | $0.0112 |
| Ordinary Income | Daily | 8/31/23 | $0.0115 |
2022 Earnings Distribution
| Distribution Type | Record Date | Declaration Date | $/Per Share |
|---|---|---|---|
| Ordinary Income | Daily | 1/31/22 | $0.0017 |
| Ordinary Income | Daily | 2/28/22 | $0.0025 |
| Ordinary Income | Daily | 3/31/22 | $0.0032 |
| Ordinary Income | Daily | 4/30/22 | $0.0038 |
| Ordinary Income | Daily | 5/31/22 | $0.0045 |
| Ordinary Income | Daily | 6/30/22 | $0.0042 |
| Ordinary Income | Daily | 7/29/22 | $0.0052 |
| Ordinary Income | Daily | 8/31/22 | $0.0059 |
| Ordinary Income | Daily | 9/30/22 | $0.006 |
| Ordinary Income | Daily | 10/31/22 | $0.007 |
| Ordinary Income | Daily | 11/30/22 | $0.0072 |
| Ordinary Income | Daily | 12/31/22 | $0.0074 |
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 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.