SAULX — SA U.S. Fixed Income Fund

SAULX Fund Overview

SAULX — SA U.S. Fixed Income Fund is a US mutual fund managed by Sa Funds Investment Trust, categorised as Short Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Sa Funds Investment Trust
• Category: Short Corporate Bond
• Assets under management: $447.15M
• 1-year return: -6.5%
• Ticker: SAULX
• SEC CIK: 0001075065
• SEC series ID: S000015875
• Share class ID: C000179976

SAULX Investment Objective and Strategy

SA U.S. Fixed Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Sa Funds Investment Trust.

Investment objective

The Funds goal is to achieve a generally stable return consistent with preservation of capital.

Principal investment strategy

The Fund pursues its goal by investing primarily in: ? obligations issued or guaranteed by the U.S. government or its agencies or instrumentalities; ? dollar-denominated obligations of foreign issuers issued in the United States; ? bank obligations, including those of U.S. banks and savings and loan associations and dollar-denominated obligations of U.S. subsidiaries and branches of foreign banks, such as certificates of deposit (including marketable variable rate certificates of deposit) and bankers acceptances; ? corporate debt obligations; ? commercial paper; ? obligations of supranational organizations, such as the World Bank and the European Investment Bank; and ? repurchase agreements. Generally, the Fund acquires obligations that mature within two years from the date of settlement. The Fund has a non-fundamental investment policy that, under normal circumstances, it will invest at least 80% of its net assets in fixed income securities issued in the U.S.

The Fund generally invests in fixed income securities that are rated investment grade. The Fund considers fixed income securities to be investment grade if, at the time of investment, they are rated at least BBB- by Standard & Poors, a division of The McGraw-Hill Companies, Inc. (S&P), Baa3 by Moodys Investors Service, Inc. (Moodys), or BBB- by Fitch Ratings Ltd. (Fitch) or, if unrated, have been determined by the Sub-Adviser to be of comparable quality. With respect to corporate debt securities ( e.g. , bonds and debentures), the Fund generally invests in investment grade securities that are issued by U.S. issuers and dollar-denominated obligations of foreign issuers issued in the U.S. The Fund may invest in U.S. Treasury bonds, bills and notes and obligations of federal agencies or instrumentalities.

Some U.S. government obligations that the Fund may invest in, such as Treasury bills, notes and bonds and securities guaranteed by the Government National Mortgage Association, are supported by the full faith and credit of the United States, while others are not such as those of or guaranteed by the Federal Home Loan Banks, Federal Home Loan Mortgage Corporation and Federal National Mortgage Association. The Fund will invest more than 25% of its total assets in dollar-denominated obligations of U.S. banks and U.S. subsidiaries and branches of foreign banks and bank holding companies when the yield to maturity on these investments exceeds the yield to maturity on all other eligible portfolio investments of similar quality for a period of five consecutive days during which the New York Stock Exchange (NYSE) is open for trading.

To determine that yields on dollar-denominated bank obligations are more attractive than yields on all other eligible portfolio investments of similar quality, the Sub-Adviser will examine the yield to maturity information for available fixed income securities of other industry sectors as compared to bank obligations after eliminating individual securities in each industry sector that would not be eligible for investment by the Fund. If the yield to maturity for eligible bank obligations is higher than that of eligible portfolio investments of similar quality of all other industry sectors, investments in bank obligations will be considered to have a yield that generally exceeds the yield on other eligible investments as a group. When investments in such bank obligations exceed 25% of the Funds total assets, the Funds investments will be concentrated in the banking industry.

The types of bank and bank holding company obligations in which the Fund may invest include, without limitation: dollar-denominated certificates of deposit, bankers acceptances, commercial paper, repurchase agreements and other debt obligations that mature within two years of the date of settlement, provided that such obligations meet the Funds established credit rating or other criteria. Commercial paper and certificates of deposit must, at the time of investment, be rated at least A-3 by S&P, P-3 by Moodys, F3 by Fitch or, if unrated, issued by a corporation having an outstanding unsecured debt issue rated at least BBB- by S&P or Fitch or Baa3 by Moodys. All ratings described above apply at the time of investment. The Fund may lend its portfolio securities to generate additional income.

SAULX Holdings

Top 10 holdings of SA U.S. Fixed Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all SAULX holdings

SAULX Portfolio Allocation

Asset-class allocation of SA U.S. Fixed Income Fund by percentage of net assets, from the latest SEC N-PORT filing.

SAULX Performance

Total returns for SAULX (as of 2026-10-01), from SEC filings.

SAULX Risk Information

Risk metrics for SAULX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 2.5%

SAULX Costs and Fees

SAULX costs about $42 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.42%
• Gross expense ratio: 0.42%
• Portfolio turnover: 69%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

SAULX Cashflows

Over the 12 months to 2026-06, SA U.S. Fixed Income Fund had net outflows of $2.95M, from monthly SEC N-PORT filings.

SAULX Debt Constituents

Largest debt holdings of SA U.S. Fixed Income Fund by percentage of net assets, from the latest SEC N-PORT filing.

SAULX Prospectus and SEC Filings

Official SA U.S. Fixed Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2025-10-24
• Prospectus (485BPOS) — filed 2024-10-28
• Prospectus amendment (485APOS) — filed 2024-08-29
• Portfolio holdings (N-PORT) — filed 2026-08-27
• Portfolio holdings (N-PORT) — filed 2026-05-26
• Portfolio holdings (N-PORT) — filed 2026-02-26
• Annual census (N-CEN) — filed 2026-09-03
• Annual census (N-CEN) — filed 2025-09-05

Related Funds

Other Short Corporate Bond funds tracked on ABC INVEST:

• Vanguard Short-Term Investment-Grade Fund (VFSTX)
• Vanguard Short-Term Corporate Bond Index Fund (VSCSX)
• American High Income Trust (AHITX)
• Vanguard High-Yield Corporate Fund (VWEHX)
• PGIM High Yield Fund (JDYRX)

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.