Davis Government Bond Fund (RFBAX)

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Davis Government Bond Fund (RFBAX) is up 1.1% since the beginning of the year. RFBAX is currently trading at $5 per share. Investors who bought $1,000 worth of RFBAX shares 5 years ago would now be looking at an investment worth $1,071.

Davis Government Bond Fund (RFBAX) has returned 1.08% so far this year and 3.48% over the past 12 months. Over the last ten years, RFBAX has returned 1.10% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jan 3, 1995, RFBAX's average daily return is +0.01%, while the average monthly return is +0.22%. At this rate, an investment would double in approximately 26.3 years.

Historically, 68% of months were positive and 32% were negative. The best month was Apr 2002 with a return of +2.1%, while the worst month was Jul 2003 at -3.5%. The longest winning streak lasted 19 consecutive months, and the longest losing streak was 5 months.

On a daily basis, RFBAX closed higher 24% of trading days. The best single day was Sep 17, 2001 with a return of +1.1%, while the worst single day was Mar 8, 1996 at -1.5%.

Davis Government Bond Fund has an annualized alpha of 2.78%, beta of -0.01, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since January 03, 1995.

• This fund captured 5.71% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -6.55%) - a profile typical of hedging or uncorrelated assets.
• Beta of -0.01 may look defensive, but with R2 of 0.01 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 0.01 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.

RFBAX has a high expense ratio of 1.00%, indicating above-average management fees.

RFBAX ranks 76 for risk / return — better than 76% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

Davis Government Bond Fund provided a 3.03% dividend yield over the last twelve months, with an annual payout of $0.16 per share.

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.

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.

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 8.03%, occurring on Oct 20, 2022. Recovery took 467 trading sessions.

The chart below shows the rolling one-month volatility.