Investment objective & strategy
As of Feb. 26, 2026 · prospectusObjective. The investment objective of the Fund is to seek current income with preservation of principal.
Strategy. Security Types: Under normal market conditions, the Fund invests at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities (including U.S. Treasury bills, notes, bonds and inflation-protected obligations) and government mortgage-backed securities (pools of mortgage loans sold to investors by various governmental agencies). The Fund may also purchase other mortgage-backed and asset-backed securities, which are sold by private issuers. The Fund will provide shareholders with at least 60 days notice before changing its 80% investment policy. Credit Quality: The Fund invests primarily in securities rated investment grade (AAA, AA, A, BBB or an equivalent rating) by one of … Security Types: Under normal market conditions, the Fund invests at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities (including U.S. Treasury bills, notes, bonds and inflation-protected obligations) and government mortgage-backed securities (pools of mortgage loans sold to investors by various governmental agencies). The Fund may also purchase other mortgage-backed and asset-backed securities, which are sold by private issuers. The Fund will provide shareholders with at least 60 days notice before changing its 80% investment policy. Credit Quality: The Fund invests primarily in securities rated investment grade (AAA, AA, A, BBB or an equivalent rating) by one of the major credit rating agencies (S&P Global Ratings, Moodys and Fitch) that has assigned a rating to the security or, if unrated, deemed to be investment-grade quality by the Adviser. Maturity Distribution: The Fund emphasizes purchasing short-term bonds. The Fund invests at least 65% of its total assets in securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities and government mortgage-backed securities that have average lives or remaining maturities of five years or less. The Fund actively manages maturities to take advantage of changes in interest rates. The dollar-weighted average maturity of the Funds investments will not exceed three years.
Top holdings
As of April 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $2.79M | 9.99% |
| US TREASURY N/B | — | $2.40M | 8.59% |
| State Street Navigator Securities Lending Portfolio II | GVMXX | $2.35M | 8.43% |
| U.S. Treasury Bills | 912797SX | $981.93K | 3.51% |
| US TREASURY N/B | — | $980.78K | 3.51% |
| US TREASURY N/B | — | $766.31K | 2.74% |
| Fannie Mae REMICS | — | $702.87K | 2.52% |
| US TREASURY N/B | — | $698.36K | 2.50% |
| Freddie Mac Pool | — | $663.67K | 2.38% |
| US TREASURY N/B | — | $602.44K | 2.16% |
Portfolio moves
Jan 31, 2026 → Apr 30, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| State Street(R) SPDR(R) Bloomberg 3-12 Month T-Bill ETF · BILS | 12% | 0.14% |
| iShares iBonds Dec 2029 Term Treasury ETF · IBTJ | 12% | 0.07% |
| abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF · BCD | 12% | 0.30% |
Advisers
| Firm | Role |
|---|---|
| Commerce Investment Advisors, Inc. | Adviser |
Footnotes
- Net assets and holdings count as of April 30, 2026, from the fund's N-PORT filing.
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