TCUYX — Ultra-Short Duration Portfolio
Data updated: 2023-04-25
TCUYX — Ultra-Short Duration Portfolio. Leveraged · $288.68M AUM · 0.23% expense ratio · -1.1% 1-yr return. Holdings, fees, performance and SEC filings.
TCUYX Fund Overview
TCUYX — Ultra-Short Duration Portfolio is a US mutual fund managed by Trust for Credit Unions, 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: Trust for Credit Unions
- Category: Leveraged
- Assets under management: $288.68M
- 1-year return: -1.1%
- Ticker: TCUYX
- SEC CIK: 0000825759
- SEC series ID: S000009983
- Share class ID: C000116693
TCUYX Investment Objective and Strategy
Ultra-Short Duration Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Trust for Credit Unions.
Investment objective
The Ultra-Short Duration Government Portfolio seeks to achieve a high level of current income, consistent with low volatility of principal, by investing in obligations authorized under the Federal Credit Union Act.
Principal investment strategy
In seeking to achieve its investment objective, the Portfolio will only invest in obligations that are authorized by the Federal Credit Union Act and the rules and regulations thereunder. Investments: The Portfolio invests exclusively in: Securities issued or guaranteed as to principal and interest by the U.S. government or by its agencies, instrumentalities or sponsored enterprises (U.S. Government Securities) and related custodial receipts Repurchase agreements secured with obligations authorized by the Federal Credit Union Act U.S. dollar denominated bank notes issued or guaranteed by banks with total assets exceeding $1 billion with weighted average maturities of less than 5 years, but only to the extent permitted under the Federal Credit Union Act and the rules and regulations thereunder Under normal circumstances, at least 80% of the net assets (measured at the time of purchase) of the Portfolio will be invested in U.S.
Government Securities, including mortgage-related securities representing an interest in or collateralized by other mortgage-related securities and/or in repurchase agreements collateralized by U.S. Government Securities. The Portfolio expects that a substantial portion of its assets will be invested in mortgage-related securities. The Portfolio may also invest in non-U.S. government related securities, including bank notes and repurchase agreements secured by non-U.S. government related collateral. While there will be fluctuations in the net asset value (NAV) of the Portfolio, the Portfolio is expected to have less interest rate risk and asset value fluctuation than funds investing primarily in longer-term mortgage-backed securities paying a fixed rate of interest. Portfolio Duration (under normal interest rate conditions): The Portfolio's target duration is that of the BofA Merrill Lynch Six-Month U.S.
Treasury Bill Index to the BofA Merrill Lynch One-Year U.S. Treasury Note Index and its maximum duration is that of a Two-Year U.S. Treasury Security (the Portfolio's duration approximates its price sensitivity to changes in interest rates). Over the past ten years, the duration of the BofA Merrill Lynch Six-Month U.S. Treasury Bill Index, the BofA Merrill Lynch One-Year U.S. Treasury Note Index and a Two-Year U.S. Treasury Security have been approximately 0.49, 0.99, and 1.95 years, respectively. Expected Approximate Interest Rate Sensitivity: Nine-Month Treasury Bill Benchmarks: BofA Merrill Lynch Six-Month U.S. Treasury Bill Index and BofA Merrill Lynch One-Year U.S. Treasury Note Index INVESTMENT ADVISERS INVESTMENT PHILOSOPHY: The Investment Adviser believes that: A portfolio of fixed income securities with wide risk-adjusted spreads properly matched to the duration of the market has the potential to produce a total return in excess of the market return The incremental return available from security selection, based on careful relative-value analysis and market research, has the potential to be significantly greater and more consistent than the incremental return from predicting the direction of interest rates Within the investment grade fixed income market, the spread sectors have the potential to offer the greatest opportunity for excess return through security selection A strong commitment to market research and experienced fixed income professionals has the opportunity to provide a better understanding of fixed income security relative value, with the goal being the identification of high credit quality investments that generate risk-adjusted returns in excess of the market return
TCUYX Performance
Total returns for TCUYX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -1.1% |
| 3 years (annualised) | -0.0% |
TCUYX Risk Information
Risk metrics for TCUYX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.4%
TCUYX Costs and Fees
TCUYX costs about $23 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.23%
- Gross expense ratio: 0.23%
- Portfolio turnover: 193%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
TCUYX Cashflows
Over the 12 months to 2023-02, Ultra-Short Duration Portfolio had net inflows of $2.24B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-02 | $40.11M |
| 2023-01 | $35.36M |
| 2022-12 | $37.94M |
| 2022-11 | $45.07M |
| 2022-10 | $37.56M |
| 2022-09 | $82.67M |
TCUYX Debt Constituents
No individual debt constituents are reported in Ultra-Short Duration Portfolio's latest SEC N-PORT filing.
TCUYX Prospectus and SEC Filings
Official Ultra-Short Duration Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-12-28
- Prospectus (485BPOS) — filed 2021-12-22
- Prospectus supplement (497) — filed 2021-01-29
- Portfolio holdings (N-PORT) — filed 2023-04-25
- Portfolio holdings (N-PORT) — filed 2023-01-20
- Portfolio holdings (N-PORT) — filed 2022-10-28
- Annual census (N-CEN) — filed 2022-11-10
- Annual census (N-CEN) — filed 2021-11-12
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.