Davis Government Bond Fund (RFBAX)
The investment seeks current income. The fund invests exclusively in U.S. Treasury securities, U.S. government agency securities, U.S. government agency mortgage securities (collectively "U.S. government securities"), and repurchase agreements collateralized by U.S. government securities. Under normal circumstances, the fund's portfolio will maintain a weighted average maturity of three years or less.
Fund Info
US2391037080
239103708
Nov 30, 1994
$1,000
Expense Ratio
RFBAX has a high expense ratio of 1.00%, indicating above-average management fees.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Davis Government Bond Fund (RFBAX) returned 1.61% year-to-date (YTD) and 5.09% over the past 12 months. Over the past 10 years, RFBAX returned 0.92% annually, underperforming the S&P 500 benchmark at 10.84%.
RFBAX
1.61%
-0.14%
2.13%
5.09%
2.62%
0.58%
0.92%
^GSPC (Benchmark)
0.52%
6.32%
-1.44%
12.25%
12.45%
14.20%
10.84%
Monthly Returns
The table below presents the monthly returns of RFBAX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.45% | 0.65% | 0.64% | 0.25% | -0.39% | 1.61% | |||||||
| 2024 | 0.46% | -0.14% | 0.46% | -0.32% | 0.86% | 0.67% | 0.87% | 0.88% | 0.29% | -0.51% | 0.65% | 0.06% | 4.31% |
| 2023 | 0.90% | -0.86% | 1.17% | 0.38% | -0.40% | 0.22% | 0.42% | 0.22% | -0.16% | 0.04% | 0.86% | 1.04% | 3.89% |
| 2022 | -0.74% | -0.53% | -1.70% | -1.13% | 0.43% | -0.53% | 0.47% | -0.90% | -1.29% | -0.30% | 0.93% | -0.08% | -5.27% |
| 2021 | 0.04% | -0.31% | -0.13% | 0.04% | 0.04% | -0.15% | 0.22% | -0.35% | -0.35% | -0.36% | 0.02% | -0.17% | -1.46% |
| 2020 | 0.50% | 0.51% | 0.77% | 0.09% | 0.14% | 0.15% | 0.07% | -0.07% | -0.04% | -0.13% | 0.08% | 0.07% | 2.16% |
| 2019 | 0.34% | 0.27% | 0.51% | 0.27% | 0.52% | 0.83% | -0.04% | 0.52% | 0.29% | 0.14% | -0.04% | 0.14% | 3.81% |
| 2018 | -0.49% | -0.03% | 0.08% | -0.03% | 0.33% | -0.11% | 0.18% | 0.11% | -0.11% | -0.05% | 0.49% | 0.55% | 0.91% |
| 2017 | 0.24% | 0.06% | 0.04% | 0.24% | 0.22% | -0.13% | 0.06% | 0.04% | -0.13% | -0.15% | -0.32% | 0.06% | 0.22% |
| 2016 | 0.44% | 0.06% | 0.04% | -0.11% | 0.06% | 0.48% | -0.13% | -0.15% | 0.06% | -0.13% | -0.52% | -0.32% | -0.23% |
| 2015 | 0.65% | -0.09% | 0.26% | 0.07% | 0.04% | -0.33% | 0.06% | -0.15% | 0.24% | -0.13% | -0.11% | -0.13% | 0.37% |
| 2014 | 0.48% | 0.13% | -0.28% | 0.28% | 0.28% | 0.11% | -0.28% | 0.09% | -0.09% | 0.28% | 0.26% | -0.07% | 1.19% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 95, RFBAX is among the top 5% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Davis Government Bond Fund (RFBAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Davis Government Bond Fund provided a 3.18% dividend yield over the last twelve months, with an annual payout of $0.16 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.16 | $0.16 | $0.12 | $0.04 | $0.03 | $0.08 | $0.12 | $0.09 | $0.03 | $0.04 | $0.04 | $0.06 |
Dividend yield | 3.18% | 3.20% | 2.39% | 0.80% | 0.57% | 1.40% | 2.21% | 1.65% | 0.60% | 0.71% | 0.74% | 1.18% |
Monthly Dividends
The table displays the monthly dividend distributions for Davis Government 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.05 | |||||||
| 2024 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.16 |
| 2023 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.12 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.04 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.03 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.08 |
| 2019 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.12 |
| 2018 | $0.00 | $0.01 | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | $0.02 | $0.01 | $0.09 |
| 2017 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 |
| 2016 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 |
| 2015 | $0.01 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.04 |
| 2014 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.06 |
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 Davis Government 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 Davis Government Bond Fund was 7.87%, occurring on Oct 20, 2022. Recovery took 447 trading sessions.
The current Davis Government Bond Fund drawdown is 0.39%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -7.87% | Oct 5, 2020 | 516 | Oct 20, 2022 | 447 | Aug 2, 2024 | 963 |
| -5.17% | Oct 6, 1998 | 221 | Aug 10, 1999 | 257 | Aug 10, 2000 | 478 |
| -4.74% | Jun 16, 2003 | 42 | Aug 14, 2003 | 745 | Aug 1, 2006 | 787 |
| -4.11% | Feb 15, 1996 | 85 | Jun 12, 1996 | 82 | Oct 4, 1996 | 167 |
| -3.93% | Nov 8, 2001 | 27 | Dec 17, 2001 | 112 | May 30, 2002 | 139 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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