HCASX Performance — The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio
Data updated: 2026-02-27
HCASX returned +7.83% over one year to Dec 2025. Annualised returns are +4.67% over 3 years and +0.23% over 5 years. Against its Intermediate Securitized Bond category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $115, against $118 for the category, and to $108 over one year, against $108. Volatility over the past three years was 6.23% a year. In the 12 months to Dec 2025 the fund took in a net $33.3M, and assets reached $259.26M.
HCASX Growth of $100
What $100 invested in The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Securitized Bond category average over the same months.
| Period | HCASX | Category average |
|---|---|---|
| 1 year (Jan 2025 – Dec 2025) | $108 | $108 |
| 3 years (Jan 2023 – Dec 2025) | $115 | $118 |
| 5 years (Jan 2021 – Dec 2025) | $101 | $104 |
| Since data start (Jul 2019 – Dec 2025) | $107 | $112 |
HCASX Trailing Returns
Total returns to Dec 2025, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +7.83% |
| 3 years (annualised) | +4.67% |
| 5 years (annualised) | +0.23% |
HCASX Annual Returns
Calendar-year total returns of The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2025 | +7.83% |
| 2024 | +1.38% |
| 2023 | +4.91% |
| 2022 | −10.53% |
| 2021 | −1.41% |
| 2020 | +3.40% |
| 2019 (Jul–Dec) | +2.01% |
HCASX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | +0.4% | +2.4% | +0.1% | +0.5% | −0.9% | +1.6% | −0.4% | +1.4% | +1.1% | +0.8% | +0.6% | 0.0% |
| 2024 | −0.4% | −1.4% | +0.9% | −3.0% | +1.9% | +1.2% | +2.5% | +1.6% | +1.2% | −2.6% | +1.2% | −1.6% |
| 2023 | +2.7% | −2.1% | +1.6% | +0.5% | −0.5% | −0.4% | +0.1% | −0.8% | −2.8% | −1.9% | +4.8% | +4.0% |
| 2022 | −1.3% | −0.8% | −2.5% | −3.2% | +1.0% | −1.4% | +2.9% | −3.0% | −4.5% | −1.3% | +3.6% | −0.3% |
| 2021 | 0.0% | −0.7% | −0.5% | +0.6% | −0.3% | 0.0% | +0.5% | −0.2% | −0.4% | −0.2% | −0.1% | −0.2% |
| 2020 | +0.7% | +0.8% | +1.2% | +0.3% | +0.1% | 0.0% | +0.2% | +0.1% | −0.1% | −0.1% | +0.2% | +0.2% |
| 2019 | — | — | — | — | — | — | +0.4% | +0.9% | +0.1% | +0.2% | +0.1% | +0.2% |
HCASX Risk
Risk measures from monthly returns over Jan 2023 – Dec 2025.
- 3-year volatility (annualised): 6.23%
- 3-year Sharpe ratio: 0.03 (vs 4.5% risk-free rate)
- Best month: +4.82% (Nov 2023)
- Worst month: −2.98% (Apr 2024)
HCASX Fund Flows
Monthly money in and out of The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio, from SEC Form N-PORT.
- 12-month net flow: $33.3M
- 12-month gross sales (incl. reinvestments): $56.0M
- Sales ÷ redemptions: 2.46×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Dec 2025 | $2.6M | $1.4M | $1.2M |
| Nov 2025 | $1.6M | $869K | $761K |
| Oct 2025 | $5.8M | $276K | $5.6M |
| Sep 2025 | $6.5M | $2.6M | $3.9M |
| Aug 2025 | $4.4M | $894K | $3.5M |
| Jul 2025 | $8.7M | $2.2M | $6.5M |
| Jun 2025 | $1.8M | $1.1M | $626K |
| May 2025 | $4.3M | $806K | $3.5M |
| Apr 2025 | $3.4M | $785K | $2.6M |
| Mar 2025 | $3.0M | $11.0M | −$7.9M |
| Feb 2025 | $4.6M | $492K | $4.1M |
| Jan 2025 | $9.3M | $242K | $9.0M |
HCASX Assets Under Management
Net assets of The U.S. Mortgage/Asset Backed Fixed Income Securities Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2025-12-31 | $259.26M |
| 2025-09-30 | $250.71M |
| 2025-06-30 | $233.72M |
| 2025-03-31 | $226.17M |
| 2024-12-31 | $216.21M |
| 2024-09-30 | $221.64M |
| 2024-06-30 | $223.87M |
| 2024-03-31 | $222.80M |
| 2023-12-31 | $213.35M |
| 2023-09-30 | $197.82M |
| 2023-06-30 | $217.19M |
| 2023-03-31 | $224.92M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.