Fund Overview
The CrossingBridge Ultra-Short Duration Fund seeks to offer a higher yield than cash instruments while maintaining a low duration.
WHY INVEST IN THIS FUND
The Fund’s strategy seeks to achieve its Objective by primarily investing in fixed income and fixed income-like securities consistent with capital preservation. Our goal is to limit both credit and interest rate risk while focusing on bottom-up investing opportunities. Under normal market conditions, the Fund will pursue a duration of 1 or less.
Given the prolonged ultra-low rate environment, investors have struggled finding solutions that offer attractive yields for their excess cash and/or ultra-short term fixed income allocation, without taking undue risk. Especially within an ultra-short duration portfolio, CrossingBridge stresses preservation of capital rather than chasing yield. We manage the portfolio to mitigate risk and accept the yield of the market commensurate with maturity. The Fund has the flexibility to invest in fixed income securities without restriction as to issuer credit quality, capitalization, or security maturity. The Fund will invest in securities that are primarily denominated in U.S. dollars by issuers domiciled in developed markets.
| Inception Date | 6/30/2021 |
| Ticker | CBUDX |
| CUSIP | 89834G828 |
| Distribution Frequency | Monthly |
| Gross Expense Ratio | 1.00% |
| Net Expense Ratio | 0.91% |
| SEC Yield Subsidized (as of 2/28/2025) | 4.30% |
| SEC Yield Unsubsidized (as of 2/28/2025) | 4.33% |
| Primary Benchmark | ICE BofA 0-1 U.S. Corporate Index |
Fund Managers
DAVID K. SHERMAN
CIO
T. KIRK WHITNEY, CFA
Portfolio Manager
Michael DeKler
Portfolio Manager
| Month-End as of February 28, 2025 | Annualized | |||||||
| 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | Since Inception | ||
| CBUDX | 0.35% | 1.35% | 2.88% | 0.88% | 5.52% | 4.89% | 4.09% | |
| ICE BofA 0-1 Year U.S. Corporate Index | 0.39% | 1.25% | 2.58% | 0.85% | 5.70% | 4.26% | 3.34% | |
| ICE BofA 0-1 Year U.S. Treasury Index | 0.34% | 1.13% | 2.31% | 0.69% | 5.16% | 3.90% | 3.14% | |
| ICE BofA 0-3 Year U.S. Fixed Rate Asset Backed Securities Index | 0.58% | 1.44% | 2.62% | 1.02% | 6.21% | 3.65% | 2.75% | |
| Quarter-End as of December 31, 2024 | Annualized | |||||||
| 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | Since Inception | ||
| CBUDX | 0.46% | 1.29% | 2.83% | 5.81% | 5.81% | 4.63% | 4.02% | |
| ICE BofA 0-1 Year U.S. Corporate Index | 0.41% | 1.16% | 2.91% | 5.74% | 5.74% | 3.77% | 3.25% | |
| ICE BofA 0-1 Year U.S. Treasury Index | 0.44% | 1.08% | 2.71% | 5.19% | 5.19% | 3.62% | 3.08% | |
| ICE BofA 0-3 Year U.S. Fixed Rate Asset Backed Securities Index | 0.41% | 0.84% | 3.31% | 5.83% | 5.83% | 3.09% | 2.59% | |
PERFORMANCE DISCLOSURES
Definitions: YTD denotes year to date total return.
The performance data quoted represents past performance. Past performance does not guarantee future results. All statistics are annualized except in the case of return performance where the length of performance history is less than 1 year.
The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. For the Institutional Share Class, the gross expense ratio is 1.00% and the net expense ratio is 0.91%. For the Institutional Share Class, there is a 0.80% expense cap in place through January 31, 2026. The Gross and Net Expense Ratios are as of the prospectus dated January 28, 2025. Investment performance reflects contractual fee waivers in effect through January 31, 2026. In the absence of such fee waivers, total return would be reduced. The net expense ratio per the prospectus is the fee applicable to the investor. Current performance may be lower or higher than the performance quoted. All performance data is net of fees and includes the reinvestment of dividends and capital gains, but does not include the effects of taxes on any capital gains or distributions.
The ICE BofA 0-1 Year U.S. Corporate Index tracks the performance of short-maturity U.S. dollar denominated investment grade corporate debt publicly issued in the U.S. domestic market.
The ICE BofA 0-1 Year U.S. Treasury Index tracks the performance of U.S. dollar denominated sovereign debt publicly issued by the U.S. government in its domestic market with maturities less than a year.
The ICE BofA 0-3 Year U.S. Fixed Rate Asset Backed Securities Index is a subset of ICE BofA U.S. Fixed Rate Asset Backed Securities Index including all securities with an average life less than 3 years.