AZL DFA Five-Year Global Fixed Income Fund

C000146456 Fund Overview

AZL DFA Five-Year Global Fixed Income Fund is a US mutual fund managed by Allianz Variable Insurance Products Trust, categorised as Short Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Allianz Variable Insurance Products Trust
• Category: Short Corporate Bond
• Assets under management: $329.69M
• 1-year return: -6.8%
• SEC CIK: 0001091439
• SEC series ID: S000046868
• Share class ID: C000146456

C000146456 Investment Objective and Strategy

AZL DFA Five-Year Global Fixed Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Allianz Variable Insurance Products Trust.

Investment objective

The Fund seeks to provide a market rate of return for a fixed income portfolio with low relative volatility of returns, and seeks to focus the eligible universe on securities with relatively less expected upward or downward movement in market value.

Principal investment strategy

"The Fund seeks to achieve its investment objective by generally investing in a universe of U.S. and foreign debt securities maturing in five years or less. The Fund primarily invests in obligations issued or guaranteed by the U.S. and foreign governments, their agencies and instrumentalities, corporate debt obligations, bank obligations, commercial paper, repurchase agreements, obligations of other domestic and foreign issuers, securities of domestic or foreign issuers denominated in U.S. dollars but not trading in the United States, and obligations of supranational organizations. At the present time, the subadviser of the Fund expects that most investments will be made in the obligations of issuers which are in developed countries. The fixed income securities in which the Fund invests are considered investment grade at the time of purchase.

Under normal market conditions, the Fund intends to invest its assets to gain exposure to issuers of at least three different countries, one of which may be the United States. An issuer may be considered to be of a country if it is organized, has substantial assets, or derives substantial operating income in that country. As a non-fundamental policy, under normal circumstances, the Fund will invest at least 80% of its net assets in fixed income securities that mature within five years from the date of settlement. It is the policy of the Fund that the dollar-weighted average length of maturity of investments will not exceed five years. In making purchase decisions, if the expected term premium is greater for longer-term securities in the eligible maturity range, the Fund will focus investment in that longer-term area, otherwise, the Fund will focus investment in the shorter-term area of the eligible maturity range.

However, investments may be made in obligations maturing in a shorter time period (from overnight, to up to five years from the date of settlement). The Fund is authorized to invest more than 25% of its total assets in U.S. Treasury bonds, bills and notes and obligations of federal agencies and instrumentalities. The subadviser will consider factors such as maturity, credit, anticipated transaction costs and market conditions when deciding whether to sell a security. Changes in expected term premium, including whether other investments present a more favorable expected term premium, may cause the portfolio to sell securities. If a security which was investment grade at the time of purchase subsequently is downgraded to below investment grade, the subadviser may, but is not required to, sell the security.

The term ""expected term premium"" means the anticipated relative return on investment for holding securities having longer-term maturities as compared to securities having shorter-term maturities. Because many of the Fund's investments will be denominated in foreign currencies, the Fund may also enter into foreign currency forward contracts to attempt to protect against uncertainty in the level of future foreign currency rates, to hedge against fluctuations in currency exchange rates or to transfer balances from one currency to another. In regard to currency hedging, it is generally not possible to precisely match the foreign currency exposure of such foreign currency forward contracts to the value of the securities involved due to fluctuations in the market values of such securities and cash flows into and out of the Fund between the date a foreign currency forward contract is entered into and the date it expires.

The Fund does not intend to use derivatives for purposes of speculation or leveraging investment returns. The Fund may engage in frequent trading of portfolio securities and may have a high portfolio turnover rate. The rate of portfolio turnover will depend upon market and other conditions; it will not be a limiting factor when management believes that portfolio changes are appropriate."

C000146456 Holdings

Top 10 holdings of AZL DFA Five-Year Global Fixed Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000146456 holdings

C000146456 Portfolio Allocation

Asset-class allocation of AZL DFA Five-Year Global Fixed Income Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000146456 Performance

Total returns for C000146456 (as of 2026-10-01), from SEC filings.

C000146456 Risk Information

Risk metrics for C000146456, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 3.5%

C000146456 Costs and Fees

C000146456 costs about $81 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.81%
• Gross expense ratio: 0.91%
• Portfolio turnover: 122%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000146456 Cashflows

Over the 12 months to 2022-12, AZL DFA Five-Year Global Fixed Income Fund had net inflows of $81.13M, from monthly SEC N-PORT filings.

C000146456 Debt Constituents

Largest debt holdings of AZL DFA Five-Year Global Fixed Income Fund by percentage of net assets, from the latest SEC N-PORT filing.

C000146456 Prospectus and SEC Filings

Official AZL DFA Five-Year Global Fixed Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2022-04-28
• Prospectus (485BPOS) — filed 2021-04-29
• Prospectus (485BPOS) — filed 2020-05-11
• Portfolio holdings (N-PORT) — filed 2023-02-27
• Portfolio holdings (N-PORT) — filed 2022-11-29
• Portfolio holdings (N-PORT) — filed 2022-08-26
• Annual census (N-CEN) — filed 2023-03-16
• Annual census (N-CEN) — filed 2022-03-16

Related Funds

Other Short Corporate Bond funds tracked on ABC INVEST:

• Vanguard Short-Term Investment-Grade Fund (VFSTX)
• Vanguard Short-Term Corporate Bond Index Fund (VSCSX)
• American High Income Trust (AHITX)
• Vanguard High-Yield Corporate Fund (VWEHX)
• PGIM High Yield Fund (JDYRX)

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.