BWDAX — Boyd Watterson Limited Duration Enhanced Income Fund
Data updated: 2026-09-11
BWDAX — Boyd Watterson Limited Duration Enhanced Income Fund. Intermediate Total / Aggregate Bond · $590.93M AUM. Holdings, fees, performance and SEC filings.
BWDAX Fund Overview
BWDAX — Boyd Watterson Limited Duration Enhanced Income Fund is a US mutual fund managed by Northern Lights Fund Trust III, categorised as Intermediate Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Northern Lights Fund Trust III
- Category: Intermediate Total / Aggregate Bond
- Assets under management: $590.93M
- 1-year return: 9.3%
- Ticker: BWDAX
- SEC CIK: 0001537140
- SEC series ID: S000054112
- Share class ID: C000170092
BWDAX Holdings
Top 10 holdings of Boyd Watterson Limited Duration Enhanced Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| United States Of America - Bureau Of The Public Debt | 5.27% |
| United States Of America - Bureau Of The Public Debt | 4.14% |
| Exeter Automobile Receivables Trust 2021-4 | 1.67% |
| First Investors Auto Owner Trust 20 | 1.46% |
| Morgan Stanley | 1.39% |
| Capital One Financial Corp. | 1.37% |
| Neuberger Berman Clo Xvii Ltd. | 1.29% |
| Sandstone Peak Ltd. | 1.15% |
| Mastec, Inc. | 1.09% |
| Plains All American Pipeline LP | 1.05% |
BWDAX Portfolio Allocation
Asset-class allocation of Boyd Watterson Limited Duration Enhanced Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 47.4% |
| Securitized | 45.4% |
| Loans | 5.9% |
| Cash & Equivalents | 0.2% |
BWDAX Performance
Total returns for BWDAX (as of 2026-09-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 9.3% |
| 3 years (annualised) | 2.4% |
BWDAX Risk Information
Risk metrics for BWDAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.1%
BWDAX Costs and Fees
BWDAX costs about $86 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.86%
- Gross expense ratio: 0.86%
- Portfolio turnover: 17%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
BWDAX Cashflows
Over the 12 months to 2026-06, Boyd Watterson Limited Duration Enhanced Income Fund had net inflows of $56.57M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $13.53M |
| 2026-05 | $3.62M |
| 2026-04 | $9.35M |
| 2026-03 | $13.55M |
| 2026-02 | $5.24M |
| 2026-01 | $9.20M |
BWDAX Debt Constituents
Largest debt holdings of Boyd Watterson Limited Duration Enhanced Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Of America - Bureau Of The Public Debt | 5.27% |
| United States Of America - Bureau Of The Public Debt | 4.14% |
| Morgan Stanley | 1.39% |
| Capital One Financial Corp. | 1.37% |
| Mastec, Inc. | 1.09% |
| Plains All American Pipeline LP | 1.05% |
| Installed Building Products, Inc. | 1.02% |
| Booz Allen Hamilton, Inc. | 1.01% |
| Bank Of America Corp. | 0.94% |
| Volkswagen Group Of America Finance LLC | 0.87% |
BWDAX Prospectus and SEC Filings
Official Boyd Watterson Limited Duration Enhanced Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-10-23
- Prospectus (485BPOS) — filed 2024-10-25
- Prospectus supplement (497) — filed 2023-11-03
- Portfolio holdings (N-PORT) — filed 2026-08-28
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-09-11
- Annual census (N-CEN) — filed 2025-09-12
Related Funds
Other Intermediate Total / Aggregate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.