HCUSX Performance — The U.S. Government Fixed Income Securities Portfolio
Data updated: 2026-02-27
HCUSX returned +7.09% over one year to Dec 2025. Annualised returns are +4.29% over 3 years and −0.45% over 5 years. The fund trailed its Alternative category average: $100 invested three years ago grew to $113, against $175 for the category, and to $107 over one year, against $111. Volatility over the past three years was 5.17% a year. In the 12 months to Dec 2025 the fund took in a net $208.8M, and assets reached $1.21B.
HCUSX Growth of $100
What $100 invested in The U.S. Government Fixed Income Securities Portfolio grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Alternative category average over the same months.
| Period | HCUSX | Category average |
|---|---|---|
| 1 year (Jan 2025 – Dec 2025) | $107 | $111 |
| 3 years (Jan 2023 – Dec 2025) | $113 | $175 |
| 5 years (Jan 2021 – Dec 2025) | $98 | $163 |
| Since data start (Jul 2019 – Dec 2025) | $107 | $184 |
HCUSX Trailing Returns
Total returns to Dec 2025, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +7.09% |
| 3 years (annualised) | +4.29% |
| 5 years (annualised) | −0.45% |
HCUSX Annual Returns
Calendar-year total returns of The U.S. Government Fixed Income Securities Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2025 | +7.09% |
| 2024 | +0.68% |
| 2023 | +5.19% |
| 2022 | −11.44% |
| 2021 | −2.65% |
| 2020 | +7.75% |
| 2019 (Jul–Dec) | +1.57% |
HCUSX 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 | +0.6% | +2.3% | +0.4% | +0.9% | −1.2% | +1.5% | −0.6% | +1.2% | +0.9% | +0.7% | +0.6% | −0.4% |
| 2024 | 0.0% | −1.5% | +0.5% | −2.3% | +1.5% | +1.0% | +2.3% | +1.4% | +1.2% | −2.7% | +0.9% | −1.6% |
| 2023 | +1.6% | −1.3% | +2.4% | +0.4% | −0.9% | −0.5% | +0.1% | −0.1% | −1.9% | −1.1% | +3.4% | +3.2% |
| 2022 | −1.7% | −0.7% | −3.1% | −3.1% | +0.4% | −1.5% | +2.0% | −1.9% | −3.2% | −0.1% | +1.5% | −0.5% |
| 2021 | −1.0% | −1.8% | −1.4% | +0.6% | +0.2% | +0.7% | +1.3% | −0.2% | −1.1% | −0.1% | +0.7% | −0.7% |
| 2020 | +2.5% | +2.5% | +2.8% | +0.5% | −0.1% | +0.1% | +1.1% | −1.2% | +0.2% | −0.9% | +0.4% | −0.2% |
| 2019 | — | — | — | — | — | — | +0.1% | +3.3% | −0.9% | 0.0% | −0.2% | −0.6% |
HCUSX Risk
Risk measures from monthly returns over Jan 2023 – Dec 2025.
- 3-year volatility (annualised): 5.17%
- 3-year Sharpe ratio: -0.04 (vs 4.5% risk-free rate)
- Best month: +3.43% (Nov 2023)
- Worst month: −2.67% (Oct 2024)
HCUSX Fund Flows
Monthly money in and out of The U.S. Government Fixed Income Securities Portfolio, from SEC Form N-PORT.
- 12-month net flow: $208.8M
- 12-month gross sales (incl. reinvestments): $316.7M
- Sales ÷ redemptions: 2.94×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Dec 2025 | $12.4M | $4.1M | $8.3M |
| Nov 2025 | $8.1M | $5.6M | $2.5M |
| Oct 2025 | $30.4M | $3.4M | $27.1M |
| Sep 2025 | $26.6M | $12.7M | $13.9M |
| Aug 2025 | $49.5M | $7.2M | $42.3M |
| Jul 2025 | $34.9M | $8.0M | $27.0M |
| Jun 2025 | $13.3M | $2.0M | $11.2M |
| May 2025 | $23.9M | $4.8M | $19.1M |
| Apr 2025 | $15.3M | $6.9M | $8.3M |
| Mar 2025 | $15.5M | $50.1M | −$34.6M |
| Feb 2025 | $24.6M | $1.3M | $23.3M |
| Jan 2025 | $62.2M | $1.8M | $60.4M |
HCUSX Assets Under Management
Net assets of The U.S. Government Fixed Income Securities Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2025-12-31 | $1.21B |
| 2025-09-30 | $1.17B |
| 2025-06-30 | $1.08B |
| 2025-03-31 | $1.04B |
| 2024-12-31 | $965.05M |
| 2024-09-30 | $1.01B |
| 2024-06-30 | $982.22M |
| 2024-03-31 | $982.34M |
| 2023-12-31 | $958.64M |
| 2023-09-30 | $907.70M |
| 2023-06-30 | $920.40M |
| 2023-03-31 | $980.56M |
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.