MUIIX — Ultra Short Income Portfolio, Institutional Class Shares
Data updated: 2026-08-21
MUIIX — Ultra Short Income Portfolio, Institutional Class Shares. 0.30% expense ratio · since 2016 · Leveraged. Holdings, fees, performance and SEC filings.
MUIIX Fund Overview
MUIIX — Ultra Short Income Portfolio, Institutional Class Shares is a US mutual fund managed by Morgan Stanley Institutional Fund Trust, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Morgan Stanley Institutional Fund Trust
- Category: Leveraged
- Assets under management: $19.61B
- 1-year return: 4.0%
- Ticker: MUIIX
- SEC CIK: 0000741375
- SEC series ID: S000052013
- Share class ID: C000163598
MUIIX Investment Objective and Strategy
Ultra Short Income Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Morgan Stanley Institutional Fund Trust.
Investment objective
"The Ultra-Short Income Portfolio (the ""Fund"") seeks current income with capital preservation while maintaining liquidity."
Principal investment strategy
"The Fund invests primarily in liquid, high quality U.S. dollar-denominated money market instruments of U.S. and foreign financial issuers and non-financial issuers. The Fund also invests in obligations issued or guaranteed by the U.S. Government and its agencies and instrumentalities. The Fund's money market investments may include commercial paper, corporate debt obligations, debt obligations (including certificates of deposit and promissory notes) of U.S. banks or foreign banks, or of U.S. branches or subsidiaries of foreign banks, or foreign branches of U.S. banks (such as Yankee obligations), certificates of deposit of savings banks and savings and loan organizations, asset-backed securities, repurchase agreements and municipal obligations. Pursuant to a fundamental policy adopted by the Fund, the Fund invests, under normal circumstances, at least 25% of its total assets in securities issued by companies in the financial services industry, including banks, broker-dealers and insurance companies.
Securities purchased by the Fund (or the issuers of such securities) will carry a rating in the highest two rating categories, A-2, P-2 or F2 or better by S&P Global Ratings Group, a division of S&P Global Inc. (""S&P""), Moody's Investors Service, Inc. (""Moody's""), or Fitch Ratings, Inc. (""Fitch""), respectively, or the equivalent by another nationally recognized statistical rating organization (""NRSRO""), or if unrated, considered by the Adviser to be of equivalent quality. The Fund may invest up to 5% of its assets, determined at the time of investment, in securities (or the issuers of such securities) rated A-2, P-2 or F2 by S&P, Moody's or Fitch, respectively, and no more than 1% of its assets will be invested in an individual security or issuer with such rating. In the case of a security that is rated differently by these three rating agencies, where two rating agencies rate the security in the highest rating category and the third rating agency rates the security in the second highest rating category, the security will be treated as rated in the highest rating category.
In the case of a security that is differently rated by only two of these rating agencies, the security will be treated as rated in the lower rating category. Under normal circumstances, the Fund intends to maintain a maximum weighted average maturity of 90 days or less and a maximum weighted average life of 180 days or less. The Fund is not a money market fund and does not seek to maintain a stable net asset value per share (""NAV""). The Adviser follows a multi-pronged investment process with respect to credit risk, interest rate risk and liquidity. Securities are reviewed on an ongoing basis to maintain or improve creditworthiness taking into consideration factors such as cash flow, asset quality, debt service coverage ratios and economic developments. Additionally, exposure to guarantors and liquidity providers is monitored separately as are the various diversification requirements.
The Adviser manages the Fund's assets in an attempt to reduce credit and interest rate risks."
MUIIX Holdings
Top 10 holdings of Ultra Short Income Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| JPMorgan Securities LLC | 4.18% |
| Credit Indust Et Comm Ny | 2.62% |
| BNP Paribas SA | 2.30% |
| BofA Securities, Inc. | 2.17% |
| Credit Agricole CIB | 2.14% |
| Wells Fargo Securities LLC | 2.10% |
| Citigroup Global Markets | 2.03% |
| National Bank of Canada | 1.79% |
| Sumitomo Mitsui Banking | 1.53% |
| Bank of Nova Scotia | 1.43% |
MUIIX Portfolio Allocation
Asset-class allocation of Ultra Short Income Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Cash & Equivalents | 85.3% |
| Fixed Income | 15.1% |
MUIIX Performance
Total returns for MUIIX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.79% |
| 1 year | 3.96% |
| 3 years (annualised) | 4.92% |
| 5 years (annualised) | 3.78% |
MUIIX Risk Information
Risk metrics for MUIIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.25%
MUIIX Costs and Fees
MUIIX costs about $30 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.30%
- Gross expense ratio: 0.35%
- Portfolio turnover: 0%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
MUIIX Cashflows
Over the 12 months to 2026-06, Ultra Short Income Portfolio had net inflows of $5.36B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $304.95M |
| 2026-05 | $715.70M |
| 2026-04 | $428.11M |
| 2026-03 | −$66.76M |
| 2026-02 | $711.38M |
| 2026-01 | $678.65M |
MUIIX Debt Constituents
Largest debt holdings of Ultra Short Income Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Citigroup Global Markets | 2.03% |
| Protective Life Global | 1.34% |
| Sumitomo Mitsui Finl Grp | 1.06% |
| Mizuho Markets Cayman | 1.02% |
| Mizuho Markets Cayman | 0.96% |
| Mizuho Markets Cayman | 0.77% |
| Toronto-Dominion Bank | 0.75% |
| American Honda Finance | 0.64% |
| Bmw US Capital LLC | 0.61% |
| American Honda Finance | 0.48% |
MUIIX Prospectus and SEC Filings
Official Ultra Short Income Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-28
- Prospectus (485BPOS) — filed 2025-01-28
- Prospectus supplement (497) — filed 2025-01-31
- Portfolio holdings (N-PORT) — filed 2026-08-21
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2025-12-09
- Annual census (N-CEN) — filed 2024-12-10
Related Funds
Other Leveraged funds tracked on ABC INVEST:
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.