Morningstar Defensive Bond Fund (MSTBX)
The investment seeks capital preservation. The fund will normally invest at least 80% of its assets in a diversified portfolio of debt securities (commonly referred to as "bonds") of varying maturity, duration, and quality. Under normal conditions, the advisor intends to pursue a defensive strategy of limiting its interest-rate sensitivity by maintaining a portfolio duration of three years or less. In most market environments, the fund will not invest more than 20% of assets in fixed-income securities that are rated below investment grade (commonly known as junk bonds), or if unrated, are determined by the fund's subadviser(s) to be of comparable quality.
Fund Info
| ISIN | US6176976024 |
|---|---|
| Issuer | Morningstar |
| Inception Date | Nov 2, 2018 |
| Category | Short-Term Bond |
| Min. Investment | $0 |
| Asset Class | Bond |
Expense Ratio
MSTBX features an expense ratio of 0.52%, falling within the medium range.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Morningstar Defensive Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Morningstar Defensive Bond Fund had a return of 4.15% year-to-date (YTD) and 7.83% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 4.15% | 21.88% |
| 1 month | -0.92% | 0.89% |
| 6 months | 3.95% | 15.85% |
| 1 year | 7.83% | 38.63% |
| 5 years (annualized) | 2.38% | 13.69% |
| 10 years (annualized) | N/A | 11.18% |
Monthly Returns
The table below presents the monthly returns of MSTBX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.46% | -0.38% | 0.56% | -0.56% | 0.96% | 0.72% | 1.41% | 0.98% | 0.86% | 4.15% | |||
| 2023 | 1.41% | -0.58% | 1.05% | 0.53% | -0.05% | -0.07% | 0.46% | 0.55% | 0.01% | 0.17% | 1.63% | 1.87% | 7.16% |
| 2022 | -0.70% | -0.39% | -1.25% | -0.74% | 0.01% | -0.88% | 0.89% | -0.84% | -1.45% | -0.27% | 0.86% | -0.05% | -4.73% |
| 2021 | 0.22% | -0.08% | -0.18% | 0.44% | 0.22% | 0.20% | 0.36% | -0.04% | -0.19% | -0.22% | 0.16% | -0.04% | 0.85% |
| 2020 | 0.69% | 0.75% | -0.62% | 0.73% | 0.68% | 0.68% | 0.44% | 0.22% | 0.15% | 0.08% | 0.57% | 0.29% | 4.75% |
| 2019 | 0.50% | 0.10% | 0.67% | 0.20% | 0.49% | 0.40% | -0.00% | 0.71% | -0.15% | 0.20% | 0.00% | 0.11% | 3.28% |
| 2018 | 0.20% | 0.19% | 0.39% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of MSTBX is 86, placing it in the top 14% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Morningstar Defensive Bond Fund (MSTBX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Morningstar Defensive Bond Fund provided a 3.95% dividend yield over the last twelve months, with an annual payout of $0.38 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.38 | $0.37 | $0.25 | $0.27 | $0.32 | $0.25 | $0.03 |
Dividend yield | 3.95% | 3.80% | 2.64% | 2.65% | 3.17% | 2.44% | 0.29% |
Monthly Dividends
The table displays the monthly dividend distributions for Morningstar Defensive Bond 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.01 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.00 | $0.29 | ||
| 2023 | $0.01 | $0.03 | $0.03 | $0.01 | $0.02 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.03 | $0.06 | $0.37 |
| 2022 | $0.01 | $0.01 | $0.02 | $0.03 | $0.01 | $0.01 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.05 | $0.25 |
| 2021 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.12 | $0.27 |
| 2020 | $0.03 | $0.02 | $0.02 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.14 | $0.32 |
| 2019 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.05 | $0.00 | $0.03 | $0.02 | $0.02 | $0.01 | $0.05 | $0.25 |
| 2018 | $0.03 | $0.03 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Morningstar Defensive Bond 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 Morningstar Defensive Bond Fund was 6.31%, occurring on Oct 20, 2022. Recovery took 280 trading sessions.
The current Morningstar Defensive Bond Fund drawdown is 1.12%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -6.31% | Sep 10, 2021 | 281 | Oct 20, 2022 | 280 | Dec 1, 2023 | 561 |
| -2.73% | Mar 9, 2020 | 9 | Mar 19, 2020 | 42 | May 19, 2020 | 51 |
| -1.12% | Oct 2, 2024 | 21 | Oct 30, 2024 | — | — | — |
| -0.93% | Feb 2, 2024 | 8 | Feb 13, 2024 | 17 | Mar 8, 2024 | 25 |
| -0.78% | Sep 5, 2019 | 7 | Sep 13, 2019 | 14 | Oct 3, 2019 | 21 |
Volatility
Volatility Chart
The current Morningstar Defensive Bond Fund volatility is 0.60%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.