BXDAX — Barings Active Short Duration Bond Fund

Data updated: 2021-11-24

BXDAX — Barings Active Short Duration Bond Fund. Money Market · $1.20B AUM · 0.40% expense ratio. Holdings, fees, performance and SEC filings.

BXDAX Fund Overview

BXDAX — Barings Active Short Duration Bond Fund is a US mutual fund managed by Barings Funds Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: Barings Funds Trust
Category: Money Market
Assets under management: $1.20B
1-year return: 9.6%
Ticker: BXDAX
SEC CIK: 0001577579
SEC series ID: S000049912
Share class ID: C000157597

BXDAX Investment Objective and Strategy

Barings Active Short Duration Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Barings Funds Trust.

Investment objective

Barings Active Short Duration Bond Fund (Active Short Duration Bond Fund or the Fund) seeks to achieve a high total rate of return primarily from current income while minimizing fluctuations in capital values by investing primarily in a diversified portfolio of short-term investment grade fixed income securities.

Principal investment strategy

"Under normal market conditions, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in investment grade fixed income securities (rated Baa3 or higher by Moody's or BBB- or higher by S&P or Fitch or, if unrated, determined to be of comparable quality by the Manager). These typically include U.S. dollar-denominated corporate obligations, securities issued or guaranteed by the U.S. government or its agencies or instrumentalities, U.S. and foreign issuer dollar-denominated bonds including, but not limited to, corporate obligations, government and agency issues, private placement bonds, securities subject to resale pursuant to Rule 144A, mortgage-backed, and other asset-backed securities. The Fund may also invest in below investment grade debt securities (rated below Baa3 by Moody's and below BBB- by S&P and Fitch, or unrated but determined to be of comparable quality by the Manager, commonly referred to as junk or high yield bonds), including securities in default, and including bank loans.

Normally, 10% or less of the Fund's total assets will be invested in below investment grade debt securities. In the event that a security is downgraded after its purchase by the Fund, the Fund may continue to hold the security if the Manager considers that doing so would be consistent with the Fund's investment objective. The Fund may invest up to 15% of its total assets in securities that are not denominated in U.S. dollars including, but not limited to, corporate obligations, government and agency issues, private placement bonds, securities subject to resale pursuant to Rule 144A, mortgage-backed, and other asset-backed securities. The Fund may also invest in non-U.S. dollar denominated high yield bonds, including bank loans. In pursuing its investment objective, the Fund may (but is not obligated to) use a wide variety of exchange-traded and over-the-counter derivatives, including futures contracts (for hedging purposes, to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund's portfolio, or as a substitute for direct investments); interest rate swaps (for hedging purposes or to gain exposure to securities or markets in which it might not be able to invest directly); total return swaps (for hedging purposes or as a substitute for direct investments); and credit default swaps (for hedging purposes, to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund's portfolio, or as a substitute for direct investments).

The Fund may, but will not necessarily, engage in foreign currency forward contracts for hedging purposes or to gain market exposure. Use of derivatives by the Fund may create investment leverage. Derivatives instruments that provide exposure to investment grade fixed-income securities or have economic characteristics similar to such investments may be used to satisfy the Fund's 80% policy. The Fund may invest in money market securities, including commercial paper. The Fund may invest in structured products (consisting of collateralized bond and loan obligations). The Fund may enter into repurchase agreement transactions. The Fund may hold a portion of its assets in cash or cash equivalents. The Fund may enter into dollar roll and reverse repurchase agreement transactions. The Fund may invest in (i) securities denominated in currencies of emerging market countries, (ii) fixed income securities or debt instruments issued by emerging market entities or sovereign nations and/or (iii) debt instruments denominated in or based on the currencies, interest rates, or issues of emerging market countries.

Emerging market countries are defined to include any country that did not become a member of the Organisation for Economic Cooperation and Development (""O.E.C.D."") prior to 1975 and Turkey. The Fund may invest in other investment companies, including affiliated investment companies. The Fund seeks to maintain a dollar-weighted average duration of less than three years; the Manager may increase or decrease its duration in response to changes in interest rates and other factors. Duration measures the price sensitivity of a bond to changes in interest rates. Duration is the dollar-weighted average time to maturity of a bond utilizing the present value of all future cash flows. The value of a fund with a longer duration will generally fall further in response to an increase in interest rates than that of a fund with a shorter duration.

The Manager generally selects the Fund's investments based on its analysis of opportunities and risks of various securities and market sectors. The Manager may choose to sell securities with deteriorating credit or limited upside potential compared to other available securities. The Fund expects that it will engage in active and frequent trading and so will typically have a relatively high portfolio turnover rate."

BXDAX Performance

Total returns for BXDAX (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	9.6%

BXDAX Risk Information

Risk metrics for BXDAX, derived from monthly returns in SEC filings.

1-year volatility (annualised): 2.3%

BXDAX Costs and Fees

BXDAX costs about $40 per $10,000 invested per year in fund expenses.

Net expense ratio: 0.40%
Gross expense ratio: 3.86%
Portfolio turnover: 64%
Brokerage commissions: 0.52 bps of average net assets (SEC N-CEN)

BXDAX Cashflows

Over the 12 months to 2021-09, Barings Active Short Duration Bond Fund had net inflows of $379.42M, from monthly SEC N-PORT filings.

Month	Net flow
2021-09	$23.59M
2021-08	$32.14M
2021-07	$81.81M
2021-06	$88.80M
2021-05	−$6.74M
2021-04	$15.25M

BXDAX Debt Constituents

No individual debt constituents are reported in Barings Active Short Duration Bond Fund's latest SEC N-PORT filing.

BXDAX Prospectus and SEC Filings

Official Barings Active Short Duration Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Money Market 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.