ALPS | Smith Short Duration Bond Fund
ALPS | Smith Short Duration Bond Fund
View the latest monthly updates for the ALPS | Smith Short Duration Bond Fund.
The ALPS | Smith Short Duration Bond Fund seeks as high a level of current income as is consistent with preservation of capital.
The Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in short- and intermediate-term fixed-income securities including government securities, corporate bonds or notes and agency securities. The Fund seeks to provide potential protection from rising rates, achieve preservation of capital and seek a high and stable rate of current income.
Fund TypeMutual Fund
as of 01/31/2023
Bloomberg 1-3 Year US Government/Credit Index
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Performance and Fees
Performance data quoted represents past performance. Past performance is no guarantee of future results so that shares, when redeemed, may be worth more or less than their original cost. The investment return and principal value will fluctuate. Current performance may be higher or lower than the performance quoted. Performance includes reinvested distributions and capital gains.
Maximum Offering Price (MOP) performance for Class A shares includes the Fund’s maximum sales charge of 2.25%.
Contingent Deferred Sales Charge (CDSC) performance for Class C shares includes a 1% CDSC on shares redeemed within 12-months of purchase. Performance shown at Net Asset Value (NAV) does not include these sales charges and would have been lower had it been taken into account.
Fund inception date: 06/29/2018
Bloomberg 1-3 Year US Government/Credit Index: includes all medium and larger issues of US government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities of between 1 and 3 years and are publicly issued.
Bloomberg US Government/Credit Index: a broad-based benchmark that measures the non-securitized component of the US Aggregate Index. It includes investment grade, US dollar-denominated, fixed-rate Treasuries, government-related and corporate securities.
One may not invest directly in an index.
$10,000 Hypothetical Investment
The chart above represents the total return historical performance of a hypothetical investment of $10,000 in the Fund over the life of the Fund. Performance calculations are as of the end of each month. Past performance is no guarantee of future results. This chart does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
^ What You Pay reflects the Adviser’s and Sub-Adviser's decision to contractually limit expenses through 02/28/2023. Please see the prospectus for additional information.
Facts and Characteristics
Dividend Yield: a financial ratio that shows how much a Fund pays out in dividends each year relative to its share price.
30-Day SEC Yield: reflects the dividends and interest earned during the period, after the deduction of the Fund's expenses.
30-Day SEC Yield (Unsubsidized): reflects the dividends and interest earned during the period, after the deduction of the Fund’s expenses, excluding fee waivers.
Trailing Twelve Month Yield: refers to the percentage of income a portfolio has returned to investors over the last 12 months.
For the 3 years ending
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1 Bloomberg 1-3 Year US Government/Credit Index - Unhedged
Credit Quality is a measure of the credit worthiness and risk of a bond or portfolio, based on the issuer’s financial condition. AAA/Aaa is highest and D is lowest. If applicable, the Pre-Refunded/Agency category includes bonds which are secured by US Government Securities and therefore are deemed high-quality investment-grade by the Advisor. If applicable, the Not Rated category includes bonds that are not rated by a Nationally Recognized Statistical Rating Organization.
Composite Rating Source: Bloomberg L.P., ratings presented are a blend of a security’s Moody’s, S&P, Fitch and DBRS ratings. The rating agencies are evenly weighted when calculating the composite. Ratings presented may differ when viewed on an agency-by agency basis.
- Top Five Holdings
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Funds Related to SMDSX
The characteristics presented reflect trade date + 1 information.
A rise in interest rates typically causes bond prices to fall. The longer the duration of the bonds held by a fund, the more sensitive it will likely be to interest rate fluctuations. Duration measures the weighted average term to maturity of a bond’s expected cash flows. Duration also represents the approximate percentage change that the price of a bond would experience for a 1% change in yield. For example: the price of a bond with a duration of 5 years would change approximately 5% for a 1% change in yield. The price of a bond with a duration of 10 years would be expected to decline by approximately 10% if its yield was to rise by +1%. Bond yields tend to fluctuate in response to changes in market levels of interest rates. Generally, if interest rates rise, a bond’s yield will also rise in response; the duration of the bond will determine how much the price of the bond will change in response to the change in yield.
The Fund’s investments in fixed-income securities and positions in fixed-income derivatives may decline in value because of changes in interest rates. As nominal interest rates rise, the value of fixed-income securities and any long positions in fixed-income derivatives held by the Fund are likely to decrease, whereas the value of its short positions in fixed-income derivatives is likely to increase.
Overall securities market risks may affect the value of individual instruments in which the Fund invests. Factors such as domestic and foreign economic growth and market conditions, interest rate levels, and political events affect the securities and derivatives markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.
ALPS Advisors, Inc. is the investment adviser to the Fund and Smith Capital Investors, LLC is the investment sub-adviser to the Fund. ALPS Advisors, Inc. and ALPS Portfolio Solutions Distributor, Inc., affiliated entities, are unaffiliated with Smith Capital Investors, LLC.
ALPS Portfolio Solutions Distributor, Inc. is the distributor for the Fund.