HCSBX Performance — The Short-Term Municipal Bond Portfolio
Data updated: 2026-09-10
HCSBX returned +1.03% year to date and +2.94% over one year to Jun 2026. Annualised returns are +2.81% over 3 years and +1.25% over 5 years. The fund trailed its Short-Term Municipal Bond category average: $100 invested three years ago grew to $109, against $111 for the category, and to $103 over one year, against $104. Volatility over the past three years was 1.92% a year. In the 12 months to Jun 2026 the fund lost a net $5.6M, and assets reached $64.77M.
HCSBX Growth of $100
What $100 invested in The Short-Term Municipal Bond Portfolio grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Municipal Bond category average over the same months.
| Period | HCSBX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $103 | $104 |
| 3 years (Jul 2023 – Jun 2026) | $109 | $111 |
| 5 years (Jul 2021 – Jun 2026) | $106 | $108 |
| Since data start (Jul 2019 – Jun 2026) | $110 | $113 |
HCSBX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.03% |
| 1 year | +2.94% |
| 3 years (annualised) | +2.81% |
| 5 years (annualised) | +1.25% |
HCSBX Annual Returns
Calendar-year total returns of The Short-Term Municipal Bond Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.03% |
| 2025 | +3.58% |
| 2024 | +1.60% |
| 2023 | +3.08% |
| 2022 | −2.78% |
| 2021 | −0.14% |
| 2020 | +2.17% |
| 2019 (Jul–Dec) | +1.01% |
HCSBX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.6% | +0.5% | −0.9% | +0.2% | +0.3% | +0.3% | — | — | — | — | — | — |
| 2025 | +0.5% | +0.5% | −0.3% | −0.1% | +0.5% | +0.5% | +0.5% | +0.6% | +0.2% | 0.0% | +0.2% | +0.3% |
| 2024 | −0.1% | +0.1% | −0.2% | −0.3% | −0.1% | +0.7% | +0.6% | +0.8% | +0.5% | −0.5% | +0.3% | −0.2% |
| 2023 | +1.3% | −1.3% | +1.3% | −0.4% | −0.5% | +0.5% | +0.2% | −0.3% | −0.9% | +0.1% | +2.2% | +0.9% |
| 2022 | −1.2% | −0.2% | −1.5% | −1.0% | +0.9% | −0.1% | +1.1% | −1.0% | −1.6% | 0.0% | +1.7% | +0.2% |
| 2021 | 0.0% | −0.4% | +0.1% | +0.3% | 0.0% | +0.1% | +0.2% | −0.1% | −0.2% | −0.2% | +0.2% | 0.0% |
| 2020 | +0.6% | +0.3% | −0.8% | 0.0% | +1.6% | −0.1% | +0.4% | 0.0% | +0.1% | −0.2% | +0.3% | 0.0% |
| 2019 | — | — | — | — | — | — | +0.5% | +0.3% | −0.4% | +0.2% | +0.1% | +0.3% |
HCSBX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 1.92%
- 3-year Sharpe ratio: -0.88 (vs 4.5% risk-free rate)
- Best month: +2.19% (Nov 2023)
- Worst month: −0.89% (Mar 2026)
HCSBX Fund Flows
Monthly money in and out of The Short-Term Municipal Bond Portfolio, from SEC Form N-PORT.
- 12-month net flow: −$5.6M
- 12-month gross sales (incl. reinvestments): $16.4M
- Sales ÷ redemptions: 0.75×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $420K | $297K | $123K |
| May 2026 | $2.4M | $2.9M | −$476K |
| Apr 2026 | $687K | $7.0M | −$6.3M |
| Mar 2026 | $158K | $1.4M | −$1.2M |
| Feb 2026 | $5.9M | $1.7M | $4.2M |
| Jan 2026 | $1.7M | $1.7M | −$2K |
| Dec 2025 | $1.2M | $1.4M | −$143K |
| Nov 2025 | $177K | $513K | −$335K |
| Oct 2025 | $1.3M | $972K | $285K |
| Sep 2025 | $1.8M | $619K | $1.2M |
| Aug 2025 | $173K | $2.3M | −$2.1M |
| Jul 2025 | $421K | $1.2M | −$793K |
HCSBX Assets Under Management
Net assets of The Short-Term Municipal Bond Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $64.77M |
| 2026-03-31 | $71.28M |
| 2025-12-31 | $68.61M |
| 2025-09-30 | $68.97M |
| 2025-06-30 | $70.17M |
| 2025-03-31 | $68.85M |
| 2024-12-31 | $69.36M |
| 2024-09-30 | $70.03M |
| 2024-06-30 | $65.58M |
| 2024-03-31 | $67.23M |
| 2023-12-31 | $65.14M |
| 2023-09-30 | $68.39M |
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.