A bond fund with a longer average maturity will see its net asset value (NAV) react more dramatically to changes in interest rates as the prices of
the underlying bonds in the portfolio increase or decline.
These funds also tend to pay out good dividends as a result of
the underlying bonds in their portfolios.
Average Days to Maturity - Money Market Instruments - The mean of the remaining term to maturity of
the underlying bonds in the portfolio.
Not exact matches
Its
underlying index selects and weights its
bonds by market value, and this method yields a
portfolio that aligns well with our benchmark
in terms of credit tranches and maturity buckets, with the only notable difference being a slightly lower YTM.
Invests
in shares of
underlying funds — AFIS Growth - Income Fund and AFIS
Bond Fund — while seeking to manage
portfolio volatility and provide downside protection, primarily through the use of exchange - traded futures.
Invests
in shares of
underlying funds — AFIS International Fund and AFIS
Bond Fund — while seeking to manage
portfolio volatility and provide downside protection, primarily through the use of exchange - traded futures.
Invests
in shares of
underlying funds — AFIS Growth Fund and AFIS
Bond Fund — while seeking to manage
portfolio volatility and provide downside protection, primarily through the use of exchange - traded futures.
Duration is a quantifiable measurement of
bond sensitivity to changes
in interest rates: if they change by 1 %, how much will the price of the
underlying bond, or
portfolio of
bonds, likely change.
The percentages of the
Portfolio's assets allocated to each
Underlying Fund are: Vanguard Total
Bond Market II Index Fund 14 % Vanguard Total International
Bond Index Fund 5 % Vanguard Short - Term Inflation - Protected Securities Index Fund 6 % Vanguard Federal Money Market Fund 75 % Through its investment
in Vanguard Total
Bond Market II Index Fund, the
Portfolio indirectly invests
in a broadly diversified collection of securities that,
in the aggregate, approximates the Bloomberg Barclays U.S. Aggregate Float Adjusted Index
in terms of key risk factors and other characteristics.
Both now use what BlackRock calls a «hybrid strategy,» whereby the current
portfolio is covered by grandfathered contracts, but new inflows will be invested directly
in the
underlying bonds.
A
bond mutual fund's share price is always exactly its net asset value, or the value of the
underlying securities
in its
portfolio.
This strategy invests
in a
portfolio that contains different
underlying assets instead of investing directly
in bonds, stocks and other types of securities.
It is possible that as the fund manager changes the
portfolio composition over time, she may actually lose or make money relative to a static
portfolio of the
underlying, but this is no different
in a
bond fund than
in a stock fund.
The percentages of the
Portfolio's assets allocated to each
Underlying Fund are: Vanguard ® Total
Bond Market II Index Fund 60 % Vanguard ® Total International Bond Index Fund 15 % Vanguard ® Institutional Total Stock Market Index Fund 17.5 % Vanguard ® Total International Stock Index Fund 7.5 % Through its ownership of the two bond funds, the Portfolio indirectly holds a mix of bonds — including government, government agency, corporate, securitized non-U.S. investment - grade fixed income investments and international dollar - denominated bonds, as well as mortgage - backed and asset - backed securities — that represents a wide spectrum of public, investment - grade, taxable, fixed income securities in the United States and abroad, all with maturities of more than 1 y
Bond Market II Index Fund 60 % Vanguard ® Total International
Bond Index Fund 15 % Vanguard ® Institutional Total Stock Market Index Fund 17.5 % Vanguard ® Total International Stock Index Fund 7.5 % Through its ownership of the two bond funds, the Portfolio indirectly holds a mix of bonds — including government, government agency, corporate, securitized non-U.S. investment - grade fixed income investments and international dollar - denominated bonds, as well as mortgage - backed and asset - backed securities — that represents a wide spectrum of public, investment - grade, taxable, fixed income securities in the United States and abroad, all with maturities of more than 1 y
Bond Index Fund 15 % Vanguard ® Institutional Total Stock Market Index Fund 17.5 % Vanguard ® Total International Stock Index Fund 7.5 % Through its ownership of the two
bond funds, the Portfolio indirectly holds a mix of bonds — including government, government agency, corporate, securitized non-U.S. investment - grade fixed income investments and international dollar - denominated bonds, as well as mortgage - backed and asset - backed securities — that represents a wide spectrum of public, investment - grade, taxable, fixed income securities in the United States and abroad, all with maturities of more than 1 y
bond funds, the
Portfolio indirectly holds a mix of
bonds — including government, government agency, corporate, securitized non-U.S. investment - grade fixed income investments and international dollar - denominated
bonds, as well as mortgage - backed and asset - backed securities — that represents a wide spectrum of public, investment - grade, taxable, fixed income securities
in the United States and abroad, all with maturities of more than 1 year.
The percentages of the
Portfolio's assets allocated to each
Underlying Fund are: Vanguard Total
Bond Market II Index Fund 70 % Vanguard Total International
Bond Index Fund 17.50 % Vanguard Institutional Total Stock Market Index Fund 8.75 % Vanguard Total International Stock Index Fund 3.75 % Through its investment
in Vanguard Total
Bond Market II Index Fund, the
Portfolio indirectly invests
in a broadly diversified collection of securities that,
in the aggregate, approximates the Bloomberg Barclays U.S. Aggregate Float Adjusted Index
in terms of key risk factors and other characteristics.