- ISIN
- US66538G1711
- CUSIP
- 66538G171
- Issuer
- Boyd Watterson
- Inception Date
- Jul 28, 2016
- Category
- Multisector Bonds
- Min. Investment
- $5,000,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
BWDTX Performance Chart
Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) is up 1.8% since the beginning of the year. BWDTX is currently trading at $10 per share. Investors who bought $1,000 worth of BWDTX shares 5 years ago would now be looking at an investment worth $1,231.
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Returns By Period
Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) has returned 1.78% so far this year and 5.93% over the past 12 months.
Boyd Watterson Limited Duration Enhanced Income Fund
- 1D
- 0.00%
- 1M
- 0.50%
- YTD
- 1.78%
- 6M
- 2.09%
- 1Y
- 5.93%
- 3Y*
- 6.50%
- 5Y*
- 4.25%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BWDTX Monthly Returns History
Based on dividend-adjusted daily data since Aug 2, 2016, BWDTX's average daily return is +0.02%, while the average monthly return is +0.33%. At this rate, an investment would double in approximately 17.5 years.
Historically, 77% of months were positive and 23% were negative. The best month was Apr 2020 with a return of +3.3%, while the worst month was Mar 2020 at -6.1%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.
On a daily basis, BWDTX closed higher 33% of trading days. The best single day was Mar 28, 2025 with a return of +1.2%, while the worst single day was Mar 19, 2020 at -1.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.40% | 0.50% | -0.64% | 0.81% | 0.50% | 0.20% | 1.78% | ||||||
| 2025 | 0.81% | 0.71% | -0.12% | 0.41% | 0.71% | 0.96% | 0.40% | 0.80% | 0.64% | 0.40% | 0.70% | 0.49% | 7.14% |
| 2024 | 0.82% | 0.20% | 0.88% | -0.41% | 0.92% | 0.88% | 1.02% | 1.01% | 0.92% | -0.30% | 0.70% | -1.80% | 4.92% |
| 2023 | 2.02% | -0.31% | 0.67% | 0.95% | 0.10% | 0.71% | 0.94% | 0.52% | 0.05% | -0.31% | 2.31% | 1.78% | 9.80% |
| 2022 | -0.99% | -0.80% | -0.62% | -1.33% | -0.41% | -2.35% | 2.26% | -0.11% | -1.79% | 0.97% | 1.61% | 0.46% | -3.16% |
| 2021 | 0.29% | -0.10% | 0.11% | 0.39% | 0.20% | 0.53% | 0.20% | 0.29% | 0.04% | -0.10% | -0.39% | 0.82% | 2.32% |
Benchmark Metrics
Boyd Watterson Limited Duration Enhanced Income Fund has an annualized alpha of 3.41%, beta of 0.04, and R2 of 0.11 versus S&P 500 Index. Calculated based on daily prices since August 02, 2016.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (16.08%) than losses (11.54%) - typical of diversified or defensive assets.
- Beta of 0.04 may look defensive, but with R2 of 0.11 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.11 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.41%
- Beta
- 0.04
- R²
- 0.11
- Upside Capture
- 16.08%
- Downside Capture
- 11.54%
Expense Ratio
BWDTX has an expense ratio of 0.40%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BWDTX ranks 98 for risk / return — in the top 98% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BWDTX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.54 | ||
| Sortino ratioReturn per unit of downside risk | +5.01 | ||
| Omega ratioGain probability vs. loss probability | 2.34 | 1.37 | +0.97 |
| Calmar ratioReturn relative to maximum drawdown | 5.98 | 2.78 | +3.19 |
| Martin ratioReturn relative to average drawdown | 30.22 | 12.44 | +17.78 |
Dividends
Dividend History
Boyd Watterson Limited Duration Enhanced Income Fund provided a 5.64% dividend yield over the last twelve months, with an annual payout of $0.56 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.56 | $0.57 | $0.41 | $0.54 | $0.36 | $0.32 | $0.32 | $0.35 | $0.40 | $0.29 | $0.13 |
Dividend yield | 5.64% | 5.70% | 4.13% | 5.51% | 3.80% | 3.20% | 3.18% | 3.47% | 4.18% | 2.90% | 1.35% |
Monthly Dividends
The table displays the monthly dividend distributions for Boyd Watterson Limited Duration Enhanced Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.00 | $0.12 | ||||||
| 2025 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.16 | $0.57 |
| 2024 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.00 | $0.41 |
| 2023 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.15 | $0.54 |
| 2022 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.12 | $0.36 |
| 2021 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.10 | $0.32 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Boyd Watterson Limited Duration Enhanced Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Boyd Watterson Limited Duration Enhanced Income Fund was 10.06%, occurring on Mar 24, 2020. Recovery took 63 trading sessions.
The current Boyd Watterson Limited Duration Enhanced Income Fund drawdown is 0.10%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -10.06%Mar 2020 | 19d | 3mo 1d | 3mo 20dMar 2020 - Jun 2020 |
Bear market2022 | -6.35%Jun 2022 | 5mo 27d | 10mo 2d | 1y 3moJan 2022 - Apr 2023 |
2025 selloff2025 | -2.21%Apr 2025 | 9d | 1mo 26d | 2mo 5dMar 2025 - Jun 2025 |
Rate-hike selloffLate 2018 | -2.17%Dec 2018 | 2mo 23d | 1mo 4d | 3mo 27dOct 2018 - Jan 2019 |
2025 pullback2025 | -2.09%Jan 2025 | 1mo 1d | 2mo 17d | 3mo 18dDec 2024 - Mar 2025 |
Drawdown Indicators
| BWDTX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -56.78% | +46.72% |
Max Drawdown (1Y)Largest decline over 1 year | -1.00% | -9.10% | +8.10% |
Max Drawdown (3Y)Largest decline over 3 years | -2.21% | -18.90% | +16.69% |
Max Drawdown (5Y)Largest decline over 5 years | -6.35% | -25.43% | +19.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.10% | -1.80% | +1.70% |
Average DrawdownAverage peak-to-trough decline | -0.67% | -10.71% | +10.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 2.03% | -1.83% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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