Fixed Income / Core Plus
Core Plus Total Return Strategy (CPTR)
A core plus strategy focused on total return. This strategy seeks higher returns than core bond strategies with generally low equity correlation. It aims to drive returns primarily through interest rate, yield curve and inflation positioning, generally resulting in liquid investments with higher credit quality. Flexibility to invest in extended bond sectors on an opportunistic basis.
Overview
Key information
Investment Objectives
Seeks to provide maximum total return consistent with preservation of capital.
Types of Investment
Government debt and agency bonds, corporate bonds, mortgage- and asset-backed securities, emerging markets debt, non-U.S., municipals and high-yield.
Distinguishing Characteristics
This total-return-focused strategy seeks higher returns than core bond strategies with generally low equity correlation. This strategy aims to drive returns primarily through interest rate, yield curve and inflation positioning, generally resulting in liquid investments with higher credit quality. With the flexibility to hold a broad range of debt securities, it can invest in emerging markets, high-yield bonds and non-U.S. dollar markets on an opportunistic basis.
Portfolio Restrictions
The strategy may invest no more than 35% of its assets in securities rated below investment grade (BB+/Ba1 and below, at the time of purchase. The strategy may invest up to 35% of its assets in securities denominated in currencies other than the U.S. dollar and may invest up to 35% of its assets in securities of emerging market issuers.
Portfolio Managers8
Portfolio managers' years of experience are as of the previous calendar year end.
Xavier Goss
21 Years of Investment Industry Experience
4 Years with Capital Group
Damien McCann
25 Years of Investment Industry Experience
25 Years with Capital Group
Tim Ng
18 Years of Investment Industry Experience
11 Years with Capital Group
Ritchie Tuazon
Principal Investment Officer
25 Years of Investment Industry Experience
14 Years with Capital Group
Returns
Investment results1, 2, 3, 4, 5, 6, 7
Total returns for periods ended 6/30/25 (%)
- ●Gross
- ●Net
- ●Index
| STRATEGY | 1M | 3M | YTD | 1Y | 3Y | 5Y | 7Y | 10Y | Lifetime |
|---|
Index data refers to the Bloomberg U.S. Aggregate Index tooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..
Strategy inception: 07/31/2013. Index lifetime is based on inception date of
the strategy.
Returns greater than one year are annualized.
Success metrics5
As of 6/30/25 (updated quarterly)
0
Gross success rate (%) tooltip: The success rate is the percentage of time when the return of a portfolio is greater than the return of its respective index. It is calculated by dividing the number of periods the portfolio outpaced the index by the total number of periods.
100
0
Net success rate (%) tooltip: The success rate is the percentage of time when the return of a portfolio is greater than the return of its respective index. It is calculated by dividing the number of periods the portfolio outpaced the index by the total number of periods.
100
| Average rolling return (gross/net %) tooltip: Average rolling return provides the average return for the portfolio across all periods within the specified timeframe. | 3.68/3.39 |
| Average rolling Index return (gross/net %) tooltip: Average rolling index return provides the average return for the index across all periods within the specified timeframe. | 1.96/1.96 |
| Average outpaced rolling return (gross/net %) tooltip: Average outpaced rolling return is the average percentage the portfolio outpaced the index in periods where the portfolio return was greater than the index for the specified timeframe. | 3.40/3.18 |
| Average lagging rolling return (gross/net %) tooltip: Average lagged rolling return is the average percentage the portfolio lagged the index in periods where the portfolio return was less than the index for the specified timeframe. | -1.65/-1.86 |
| Average excess rolling return (gross/net %) tooltip: Average excess rolling return is the average of the excess return between the portfolio and the index across all periods for the specified timeframe. | 1.72/1.43 |
Index data refers to the Bloomberg U.S. Aggregate Index tooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..
Risk measures5, 10
As of 6/30/25 (updated monthly)
| Standard deviation tooltip: Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility. | |
| CPTR (gross/net %) | 7.95/7.95 |
| Bloomberg U.S. Aggregate Index tooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. | — |
| Sharpe ratio tooltip: Sharpe ratios use standard deviation and excess return to determine reward per unit of risk. The higher the number, the better the portfolio's historical risk-adjusted performance. | |
| CPTR (gross/net %) | -0.41/-0.45 |
| Bloomberg U.S. Aggregate Index tooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. | -0.28 |
| R-squared (gross/net) tooltip: R-squared is a measure of the correlation between a particular return and that of a benchmark index. A measure of 100 indicates that all of the return can be explained by movements in the benchmark. Generally the higher the R-squared measure, the more reliable the beta measurement will be. | 93/93 |
| Alpha (gross/net) tooltip: Alpha is a measure of the difference between a portfolio's actual returns and its expected results, given its level of risk as measured by beta. A positive alpha figure indicates the portfolio has performed better than its beta would predict. In contrast, a negative alpha indicates the portfolio has underperformed, given the expectations established by beta. | -1.20/-1.48 |
| Beta (gross/net) tooltip: Beta relatively measures sensitivity to market movements over a specified period of time. The beta of the market (represented by the benchmark index) is equal to 1; a beta higher than 1 implies that a return was more volatile than the market. A beta lower than 1 suggests that a return was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be. | 1.07/1.07 |
| Information ratio (gross/net) tooltip: The information ratio represents the excess return generated (over the market) per unit of relative risk as measured by tracking error. | -0.52/-0.66 |
| Downside capture ratio (gross/net) tooltip: Ratio of a fund/model/composite's return during periods when the index was down, divided by the return of the index during those periods. For example, during periods when the index was down, a down-capture ratio greater than 100 indicates the fund/model/composite produced a lower return than the index. | 117/118 |
| Upside capture ratio (gross/net) tooltip: Ratio of a fund/model/composite's return during periods when the index was up, divided by the return of the index during those periods. For example, an up-capture ratio greater than 100 indicates the fund/model/composite produced a higher return than the index during periods when the index was up. | 104/103 |
| Tracking error (gross/net %) tooltip: The tracking error is the standard deviation of the difference between the returns of an investment and its benchmark. | 2.09/2.09 |
| S&P 500 correlation (gross/net) tooltip: Correlation describes the strength of the association between a return and a benchmark. Correlation is shown on a scale from 1 to -1. The higher the positive correlation, the more closely the return and the benchmark moved relative to one another. The lower the negative correlation, the more the return and the benchmark diverged from one another. | 0.59/0.59 |
| MSCI ACWI correlation (gross/net) tooltip: Correlation describes the strength of the association between a return and a benchmark. Correlation is shown on a scale from 1 to -1. The higher the positive correlation, the more closely the return and the benchmark moved relative to one another. The lower the negative correlation, the more the return and the benchmark diverged from one another. | 0.69/0.69 |
Data calculated against the Bloomberg U.S. Aggregate Index tooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.unless noted otherwise.
Portfolio Composition
Asset mix
As of 6/30/25 (updated monthly)
●
U.S. Equities0%
●
Non-U.S. Equities0%
●
U.S Bonds81.6%
●
Non-U.S. Bonds13.9%
●
Cash, Equivalents & Other94.5%
U.S. Equities | 0.0% |
Non-U.S. Equities | - |
U.S Bonds | 81.6% |
Non-U.S. Bonds | 13.9% |
Cash, Equivalents & Other 9 | 4.5% |
Key statistics
As of 6/30/25 (updated monthly)
| CPTR | INDEX | |
|---|---|---|
Yield to worst tooltip: Lower of Yield to Maturity or the bond's total return if put or call options are exercised prior to maturity but no default occurs. (gross/net %)11 | 4.4/4.1 | 4.5 |
Yield to maturity tooltip: A bond's total return if held to maturity and no default occurs or options are exercised. Assumes coupons are paid on time and accounts for their present value. Assumes principal is returned at maturity. (gross/net %)11 | 4.4/4.1 | 4.6 |
Average coupon tooltip: The average coupon is the weighted average coupon rate of all the bond holdings. (gross/net %)11 | 3.7/3.5 | 3.6 |
Effective duration tooltip: Effective duration is a duration calculation for bonds that takes into account that expected cash flows will fluctuate as interest rates change. (years) | 6.5 | 5.9 |
Spread duration tooltip: A measure of fixed income securities' sensitivity to spread movement. (years) | 3.1 | 3.3 |
Option adjusted spread tooltip: Option-adjusted spread is a yield-spread calculation used to value securities with embedded options. (bps) | 35.3 | 34 |
Duration times spread tooltip: A measure of fixed income securities' spread exposure, taking into account both spread duration and credit spread exposure. (bps) | 189 | 229 |
Index data refers to the Bloomberg U.S. Aggregate Index tooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..
Top fixed income issuers12
As of 6/30/25 (updated monthly)
CPTR
Index
| CPTR | Index | |
|---|---|---|
| U.S. Treasury | 14.9% | 45.2% |
| Fannie Mae | 12.4% | 0.1% |
| UMBS | 7.5% | 18.3% |
| Federal Home Loan Mortgage | 7.4% | 0.5% |
| Ginnie Mae II | 1.0% | 0.4% |
| PG&E | 0.9% | 0.1% |
| Amgen | 0.7% | 0.2% |
| PNC Financial Services Group | 0.6% | 0.1% |
Index data refers to the Bloomberg U.S. Aggregate Index tooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..
Portfolio exposures
As of 6/30/25 (updated monthly)
| Market value (%) | Contribution to duration (%) | ||||
|---|---|---|---|---|---|
| CPTR | INDEX | CPTR | INDEX | ||
| Government | 17.7 | 45.9 | 2.3 | 2.6 | |
| Credit | 16.5 | 26.6 | 1.7 | 1.7 | |
| Securitized | 40.4 | 26.4 | 1.7 | 1.5 | |
| Emerging Markets Debt | 5.7 | 1.1 | 0.6 | 0.1 | |
| High Yield | -11.6 | 0.0 | 0.2 | 0.0 | |
| Direct Lending | — | — | — | — | |
| Asset Based Finance | — | — | — | — | |
| Other15 | 0.0 | — | 0.0 | — | |
| Unassigned | — | 0.0 | — | — | |
| Cash & equivalents13 | 4.0 | — | 0.0 | — | |
| CDX tooltip: The credit default swap index (CDX) is a benchmark financial instrument made up of credit default swaps (CDS) that have been issued by North American or emerging markets companies. Credit default swaps act like insurance policies offering a buyer protection in case of the borrower's default.& TRS tooltip: A total return swap (TRS) is a contract between a total return payer and total return receiver. The payer usually pays the total return of agreed security to the receiver and receives a fixed/floating rate payment in exchange. The agreed (or referenced) security can be a bond, index, equity, loan, or commodity. Offset16 | 27.3 | — | — | — | |
Index data refers to the Bloomberg U.S. Aggregate Index tooltip: Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes..
Resources
Literature
For institutional investors and registered investment advisors only. Not for use with the public.
Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Investing for short periods makes losses more likely.
Prices and returns will vary, so investors may lose money.
View strategy returns.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Important information about objectives, risks, charges and expenses for collective investment trusts is contained in the Characteristics Statement, which can be obtained from Capital Group or participants' plan provider or employer.
Data based on the representative account of the Capital Group Core Plus Total Return Composite, unless otherwise noted.
Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch, as an indication of an issuer's creditworthiness.
For most funds, unless otherwise noted below, if agency ratings differ, a security will be considered to have received the highest of those ratings, consistent with applicable investment policies. Securities in the Unrated category have not been rated by any of the rating agencies referenced above; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with applicable investment policies.
The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds.
Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds.
The return of principal for bond portfolios and for portfolios with significant underlying bond holdings is not guaranteed. Investments are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings.
Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries.
There have been periods when the results lagged the index(es) and/or average(s).
The indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.
Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
Portfolios are managed, so holdings will change.
Holdings mentioned and their results are not representative of other holdings in the portfolio or the portfolio's results.
Certain fixed income and/or cash and equivalents holdings may be held through mutual funds managed by the investment adviser or its affiliates that are not offered to the public.
Totals may not reconcile due to rounding.
Investment results assume all distributions are reinvested and reflect applicable fees and expenses.
1.
YTD (year-to-date return): For the period from January 1 of the current year to the date shown or from inception date if first offered after January 1 of the current year.
2.
When applicable, returns for less than one year are not annualized, but calculated as cumulative total returns.
3.
Gross composite results do not reflect the deduction of fees and expenses; results would have been lower if they were subject to fees and expenses.
4.
Returns are in USD. Returns reflect the reinvestment of dividends, interest and other earnings.
5.
Data reflect the Capital Group Core Plus Total Return Composite.
6.
Composite net results are calculated by deducting from the gross results a model fee equal to the highest management fees for applicable composite members. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size.
7.
Composite returns are net of withholding taxes on dividends, interest and capital gains. Actual withholding tax rates vary according to the country of denomination and tax status of each portfolio.
8.
Reflects current team at the time of publication. Years of experience in investment industry and Capital Group are as of the most recent year end.
9.
May include investments in money market or similar funds managed by a third party or similar investments managed by the investment adviser or its affiliates that are not offered to the public.
10.
Risk measures net of fees are calculated using a model fee equal to the highest management fee for applicable composite members deducted from the gross results, which do not reflect the deduction of fees and expenses.
11.
Based on the representative account for the applicable composite. Refer to composite results disclosures for descriptions of fees used to calculate yield measures shown. Defaults by fixed income issuers would result in different, lower realized yields. Past results are not predictive of results in future periods.
12.
The information shown does not include cash and equivalents. Cash and equivalents may include investments in money market or similar funds managed by a third party or similar investments managed by the investment adviser or its affiliates that are not offered to the public.
13.
Includes cash, short-term securities, other assets less liabilities, and may include accrued income. It may also include investments in money market or similar funds managed by the investment adviser or its affiliates that are not offered to the public.
14.
Portfolio market value reflect risk notional values. Risk notional is the value of the underlying asset at the current market price for a derivatives trade.
15.
Sector breakdown ”Other” may include equities, rights, warrants, preferreds, convertibles, forwards and FX (foreign exchange) options.
16.
The offset represents positions within the portfolio used to offset risk and is -1 multiplied by the total of all notional values.
17.
Includes cash, short-term securities, other assets less liabilities, and may include accrued income. It may also include investments in money market or similar funds managed by the investment adviser or its affiliates that are not offered to the public.
18.
Rating exposure ”Other” may include equities, rights, warrants, preferreds, convertibles, forwards and FX (foreign exchange) options.
Use of this website is intended for U.S. residents only.
Collective Investment Trusts (CITs) are available for investment only to certain qualified retirement plans. Capital Group CITs are maintained by Capital Bank and Trust Company (“trustee”), which has retained an affiliate to serve as investment adviser to the trustee.
Advisory services offered through Capital Research and Management Company (CRMC) and its RIA affiliates.
Average outpaced rolling return
Average outpaced rolling return is the average percentage the portfolio outpaced the index in periods where the portfolio return was greater than the index for the specified timeframe.
Average outpaced rolling return is the average percentage the portfolio outpaced the index in periods where the portfolio return was greater than the index for the specified timeframe.
Effective duration
Effective duration is a duration calculation for bonds that takes into account that expected cash flows will fluctuate as interest rates change.
Effective duration is a duration calculation for bonds that takes into account that expected cash flows will fluctuate as interest rates change.
Average coupon
The average coupon is the weighted average coupon rate of all the bond holdings.
The average coupon is the weighted average coupon rate of all the bond holdings.
Index Correlation
Correlation describes the strength of the association between a return and a benchmark. Correlation is shown on a scale from 1 to -1. The higher the positive correlation, the more closely the return and the benchmark moved relative to one another. The lower the negative correlation, the more the return and the benchmark diverged from one another.
Correlation describes the strength of the association between a return and a benchmark. Correlation is shown on a scale from 1 to -1. The higher the positive correlation, the more closely the return and the benchmark moved relative to one another. The lower the negative correlation, the more the return and the benchmark diverged from one another.
Beta
Beta relatively measures sensitivity to market movements over a specified period of time. The beta of the market (represented by the benchmark index) is equal to 1; a beta higher than 1 implies that a return was more volatile than the market. A beta lower than 1 suggests that a return was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be.
Beta relatively measures sensitivity to market movements over a specified period of time. The beta of the market (represented by the benchmark index) is equal to 1; a beta higher than 1 implies that a return was more volatile than the market. A beta lower than 1 suggests that a return was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be.
Success Rate
The success rate is the percentage of time when the return of a portfolio is greater than the return of its respective index. It is calculated by dividing the number of periods the portfolio outpaced the index by the total number of periods.
The success rate is the percentage of time when the return of a portfolio is greater than the return of its respective index. It is calculated by dividing the number of periods the portfolio outpaced the index by the total number of periods.
Option adjusted spread
Option-adjusted spread is a yield-spread calculation used to value securities with embedded options.
Option-adjusted spread is a yield-spread calculation used to value securities with embedded options.
Information ratio
The information ratio represents the excess return generated (over the market) per unit of relative risk as measured by tracking error.
The information ratio represents the excess return generated (over the market) per unit of relative risk as measured by tracking error.
Average rolling return
Average rolling return provides the average return for the portfolio across all periods within the specified timeframe.
Average rolling return provides the average return for the portfolio across all periods within the specified timeframe.
Average lagging rolling return
Average lagged rolling return is the average percentage the portfolio lagged the index in periods where the portfolio return was less than the index for the specified timeframe.
Average lagged rolling return is the average percentage the portfolio lagged the index in periods where the portfolio return was less than the index for the specified timeframe.
Bond Statistic Net Coupon
The average coupon is the weighted average coupon rate of all the bond holdings.
The average coupon is the weighted average coupon rate of all the bond holdings.
Standard deviation
Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility.
Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility.
Total Return Swap
A total return swap (TRS) is a contract between a total return payer and total return receiver. The payer usually pays the total return of agreed security to the receiver and receives a fixed/floating rate payment in exchange. The agreed (or referenced) security can be a bond, index, equity, loan, or commodity.
A total return swap (TRS) is a contract between a total return payer and total return receiver. The payer usually pays the total return of agreed security to the receiver and receives a fixed/floating rate payment in exchange. The agreed (or referenced) security can be a bond, index, equity, loan, or commodity.
Credit Default Swap Index
The credit default swap index (CDX) is a benchmark financial instrument made up of credit default swaps (CDS) that have been issued by North American or emerging markets companies. Credit default swaps act like insurance policies offering a buyer protection in case of the borrower's default.
The credit default swap index (CDX) is a benchmark financial instrument made up of credit default swaps (CDS) that have been issued by North American or emerging markets companies. Credit default swaps act like insurance policies offering a buyer protection in case of the borrower's default.
Upside capture ratio
Ratio of a fund/model/composite's return during periods when the index was up, divided by the return of the index during those periods. For example, an up-capture ratio greater than 100 indicates the fund/model/composite produced a higher return than the index during periods when the index was up.
Ratio of a fund/model/composite's return during periods when the index was up, divided by the return of the index during those periods. For example, an up-capture ratio greater than 100 indicates the fund/model/composite produced a higher return than the index during periods when the index was up.
Bond Statistic Net Yield to Maturity
A bond's total return if held to maturity and no default occurs or options are exercised. Assumes coupons are paid on time and accounts for their present value. Assumes principal is returned at maturity.
A bond's total return if held to maturity and no default occurs or options are exercised. Assumes coupons are paid on time and accounts for their present value. Assumes principal is returned at maturity.
Duration times spread
A measure of fixed income securities' spread exposure, taking into account both spread duration and credit spread exposure.
A measure of fixed income securities' spread exposure, taking into account both spread duration and credit spread exposure.
Currency Weighting Short Breakdown
The exposure to a specific currency before taking into consideration any forward currency contracts that may increase or decrease that currency's exposure.
The exposure to a specific currency before taking into consideration any forward currency contracts that may increase or decrease that currency's exposure.
Spread duration
A measure of fixed income securities' sensitivity to spread movement.
A measure of fixed income securities' sensitivity to spread movement.
Downside capture ratio
Ratio of a fund/model/composite's return during periods when the index was down, divided by the return of the index during those periods. For example, during periods when the index was down, a down-capture ratio greater than 100 indicates the fund/model/composite produced a lower return than the index.
Ratio of a fund/model/composite's return during periods when the index was down, divided by the return of the index during those periods. For example, during periods when the index was down, a down-capture ratio greater than 100 indicates the fund/model/composite produced a lower return than the index.
Tracking error
The tracking error is the standard deviation of the difference between the returns of an investment and its benchmark.
The tracking error is the standard deviation of the difference between the returns of an investment and its benchmark.
Average rolling index return
Average rolling index return provides the average return for the index across all periods within the specified timeframe.
Average rolling index return provides the average return for the index across all periods within the specified timeframe.
Bond Statistic Net Yield to Worst
Lower of Yield to Maturity or the bond's total return if put or call options are exercised prior to maturity but no default occurs.
Lower of Yield to Maturity or the bond's total return if put or call options are exercised prior to maturity but no default occurs.
Average excess rolling return
Average excess rolling return is the average of the excess return between the portfolio and the index across all periods for the specified timeframe.
Average excess rolling return is the average of the excess return between the portfolio and the index across all periods for the specified timeframe.
Yield to worst
Lower of Yield to Maturity or the bond's total return if put or call options are exercised prior to maturity but no default occurs.
Lower of Yield to Maturity or the bond's total return if put or call options are exercised prior to maturity but no default occurs.
Sharpe ratio
Sharpe ratios use standard deviation and excess return to determine reward per unit of risk. The higher the number, the better the portfolio's historical risk-adjusted performance.
Sharpe ratios use standard deviation and excess return to determine reward per unit of risk. The higher the number, the better the portfolio's historical risk-adjusted performance.
Alpha
Alpha is a measure of the difference between a portfolio's actual returns and its expected results, given its level of risk as measured by beta. A positive alpha figure indicates the portfolio has performed better than its beta would predict. In contrast, a negative alpha indicates the portfolio has underperformed, given the expectations established by beta.
Alpha is a measure of the difference between a portfolio's actual returns and its expected results, given its level of risk as measured by beta. A positive alpha figure indicates the portfolio has performed better than its beta would predict. In contrast, a negative alpha indicates the portfolio has underperformed, given the expectations established by beta.
Yield to maturity
A bond's total return if held to maturity and no default occurs or options are exercised. Assumes coupons are paid on time and accounts for their present value. Assumes principal is returned at maturity.
A bond's total return if held to maturity and no default occurs or options are exercised. Assumes coupons are paid on time and accounts for their present value. Assumes principal is returned at maturity.
Bloomberg U.S. Aggregate Index
Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.
Bloomberg U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. This index is unmanaged, and its results include reinvested dividends and|or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.
R-squared
R-squared is a measure of the correlation between a particular return and that of a benchmark index. A measure of 100 indicates that all of the return can be explained by movements in the benchmark. Generally the higher the R-squared measure, the more reliable the beta measurement will be.
R-squared is a measure of the correlation between a particular return and that of a benchmark index. A measure of 100 indicates that all of the return can be explained by movements in the benchmark. Generally the higher the R-squared measure, the more reliable the beta measurement will be.
Portfolio turnover
Portfolio turnover is the portion of a portfolio's holdings sold and replaced with new securities annually, usually expressed as a percentage of the portfolio's total assets. For example, a portfolio with a turnover of 25% holds assets for an average of about four years, while a portfolio with a turnover of 100% holds assets for one year.
Portfolio turnover is the portion of a portfolio's holdings sold and replaced with new securities annually, usually expressed as a percentage of the portfolio's total assets. For example, a portfolio with a turnover of 25% holds assets for an average of about four years, while a portfolio with a turnover of 100% holds assets for one year.