Investment objective & strategy
As of March 31, 2025 · prospectusObjective. Capital preservation and current income.
Strategy. The Fund invests at least 80% of its net assets in bonds, including corporate and government bonds. The Fund typically invests in US bonds. Under normal circumstances, the Funds dollar-weighted average maturity does not exceed three years. The Fund invests at least 80% of its net assets in bonds rated within the four highest grades assigned by a national bond rating agency (e.g., Standard & Poors: AAA, AA, A, or BBB) at the time of purchase, inclusive of cash, and may invest up to 20% of its net assets in unrated and high-yield bonds (junk bonds). Investment-grade investments may include split rated securities, which are securities that are rated as investment grade by at least one credit rating agency but … The Fund invests at least 80% of its net assets in bonds, including corporate and government bonds. The Fund typically invests in US bonds. Under normal circumstances, the Funds dollar-weighted average maturity does not exceed three years. The Fund invests at least 80% of its net assets in bonds rated within the four highest grades assigned by a national bond rating agency (e.g., Standard & Poors: AAA, AA, A, or BBB) at the time of purchase, inclusive of cash, and may invest up to 20% of its net assets in unrated and high-yield bonds (junk bonds). Investment-grade investments may include split rated securities, which are securities that are rated as investment grade by at least one credit rating agency but rated below investment grade by another agency.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $1.03M | 7.69% |
| US TREASURY N/B | — | $737.40K | 5.49% |
| KPN NV | — | $645.37K | 4.80% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 3-7/8% 04/15/29 | TN29 | $643.17K | 4.79% |
| US TREASURY N/B | — | $641.52K | 4.77% |
| US TREASURY N/B | — | $602.88K | 4.49% |
| US TREASURY N/B | — | $553.93K | 4.12% |
| US TREASURY N/B | — | $401.09K | 2.98% |
| BANK OF AMER CRP | — | $399.73K | 2.97% |
| US TREASURY N/B | — | $361.66K | 2.69% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| Victory Fund for Income · IPFIX, VFFCX, GGIFX, VFFIX, VFFYX, VFFRX, VFFMX | 15% | 0.63% |
| Franklin U.S. Government Securities VIP Fund | 7% | 0.53% |
| Saturna Sustainable Bond Fund · SEBFX | 7% | 0.60% |
Advisers
| Firm | Role |
|---|---|
| SATURNA CAPITAL CORPORATION | Adviser |
Footnotes
- Expense ratio as of March 31, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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