MUBWX Performance — Unconstrained Bond Series, Class W
Data updated: 2026-08-21
MUBWX returned +1.19% year to date and +3.86% over one year to Jun 2026. Annualised returns are +5.85% over 3 years and +2.70% over 5 years. The fund trailed its Short-Term Securitized Bond category average: $100 invested three years ago grew to $119, against $120 for the category, and to $104 over one year, against $105. Volatility over the past three years was 2.60% a year. In the 12 months to Jun 2026 the fund lost a net $53.7M, and assets reached $768.32M.
MUBWX Growth of $100
What $100 invested in Unconstrained Bond Series grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Securitized Bond category average over the same months.
| Period | MUBWX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $104 | $105 |
| 3 years (Jul 2023 – Jun 2026) | $119 | $120 |
| 5 years (Jul 2021 – Jun 2026) | $114 | $117 |
| Since data start (Jul 2019 – Jun 2026) | $130 | $126 |
MUBWX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.19% |
| 1 year | +3.86% |
| 3 years (annualised) | +5.85% |
| 5 years (annualised) | +2.70% |
MUBWX Annual Returns
Calendar-year total returns of Unconstrained Bond Series, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.19% |
| 2025 | +6.75% |
| 2024 | +4.83% |
| 2023 | +6.65% |
| 2022 | −6.06% |
| 2021 | +3.18% |
| 2020 | +8.30% |
| 2019 (Jul–Dec) | +2.36% |
MUBWX 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 | +0.8% | +0.7% | −1.0% | +0.8% | +0.2% | −0.2% | — | — | — | — | — | — |
| 2025 | +0.7% | +1.2% | +0.4% | +0.5% | −0.1% | +1.2% | −0.3% | +1.1% | +0.4% | +0.3% | +0.6% | +0.4% |
| 2024 | +0.3% | −0.6% | +0.4% | −0.8% | +1.2% | +1.1% | +1.3% | +1.4% | +1.1% | −0.9% | +0.6% | −0.2% |
| 2023 | +1.7% | −1.0% | +1.4% | +0.6% | −0.4% | −0.5% | +0.8% | +0.6% | −0.7% | +0.1% | +1.8% | +2.1% |
| 2022 | −0.9% | −1.1% | −1.9% | −1.1% | +0.1% | −1.6% | +0.8% | −0.4% | −1.4% | −0.3% | +0.9% | +0.8% |
| 2021 | +0.5% | −0.1% | −0.2% | +1.1% | +0.8% | +0.3% | +0.4% | +0.1% | −0.2% | +0.5% | −0.4% | +0.3% |
| 2020 | +0.1% | −0.2% | −4.3% | +2.2% | +1.9% | +1.9% | +2.4% | +0.8% | 0.0% | +0.4% | +1.8% | +1.2% |
| 2019 | — | — | — | — | — | — | +0.2% | +0.3% | +0.2% | +0.4% | +0.4% | +0.9% |
MUBWX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 2.60%
- 3-year Sharpe ratio: 0.52 (vs 4.5% risk-free rate)
- Best month: +2.14% (Dec 2023)
- Worst month: −1.03% (Mar 2026)
MUBWX Fund Flows
Monthly money in and out of Unconstrained Bond Series, from SEC Form N-PORT.
- 12-month net flow: −$53.7M
- 12-month gross sales (incl. reinvestments): $161.5M
- Sales ÷ redemptions: 0.75×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $11.1M | $17.0M | −$5.9M |
| May 2026 | $10.4M | $13.6M | −$3.2M |
| Apr 2026 | $8.4M | $25.1M | −$16.7M |
| Mar 2026 | $13.6M | $14.0M | −$382K |
| Feb 2026 | $12.8M | $11.9M | $813K |
| Jan 2026 | $21.5M | $11.1M | $10.4M |
| Dec 2025 | $13.6M | $19.7M | −$6.2M |
| Nov 2025 | $10.8M | $17.6M | −$6.8M |
| Oct 2025 | $15.3M | $27.3M | −$12.0M |
| Sep 2025 | $10.8M | $12.1M | −$1.3M |
| Aug 2025 | $10.6M | $12.5M | −$1.8M |
| Jul 2025 | $22.7M | $33.2M | −$10.5M |
MUBWX Assets Under Management
Net assets of Unconstrained Bond Series by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $768.32M |
| 2026-03-31 | $798.17M |
| 2025-12-31 | $793.86M |
| 2025-09-30 | $817.73M |
| 2025-06-30 | $831.16M |
| 2025-03-31 | $864.12M |
| 2024-12-31 | $847.73M |
| 2024-09-30 | $847.60M |
| 2024-06-28 | $821.03M |
| 2024-03-28 | $824.94M |
| 2023-12-29 | $815.93M |
| 2023-09-29 | $801.58M |
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.