TWARX Performance — Short-Term Government Fund, R Class
Data updated: 2026-08-28
TWARX returned +0.31% year to date and +2.21% over one year to Jun 2026. Annualised returns are +3.55% over 3 years and +1.12% over 5 years. The fund trailed its Short-Term Government Bond category average: $100 invested three years ago grew to $111, against $115 for the category, and to $102 over one year, against $103. Volatility over the past three years was 1.58% a year. In the 12 months to Jun 2026 the fund lost a net $21.8M, and assets reached $181.19M.
TWARX Growth of $100
What $100 invested in Short-Term Government Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Government Bond category average over the same months.
| Period | TWARX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $102 | $103 |
| 3 years (Jul 2023 – Jun 2026) | $111 | $115 |
| 5 years (Jul 2021 – Jun 2026) | $106 | $111 |
| Since data start (Jul 2019 – Jun 2026) | $109 | $118 |
TWARX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.31% |
| 1 year | +2.21% |
| 3 years (annualised) | +3.55% |
| 5 years (annualised) | +1.12% |
TWARX Annual Returns
Calendar-year total returns of Short-Term Government Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +0.31% |
| 2025 | +4.40% |
| 2024 | +3.05% |
| 2023 | +3.05% |
| 2022 | −4.38% |
| 2021 | −0.57% |
| 2020 | +2.80% |
| 2019 (Jul–Dec) | +0.44% |
TWARX 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 | +0.1% | +0.5% | −0.4% | +0.1% | −0.1% | 0.0% | — | — | — | — | — | — |
| 2025 | +0.4% | +0.6% | +0.4% | +0.7% | −0.3% | +0.6% | −0.1% | +0.8% | +0.3% | +0.3% | +0.4% | +0.3% |
| 2024 | +0.2% | −0.5% | +0.3% | −0.6% | +0.7% | +0.6% | +1.1% | +0.8% | +0.7% | −0.7% | +0.2% | +0.2% |
| 2023 | +0.6% | −0.8% | +1.5% | +0.3% | −0.6% | −0.8% | +0.3% | +0.2% | −0.1% | +0.2% | +1.1% | +1.2% |
| 2022 | −0.7% | −0.4% | −1.3% | −0.4% | +0.2% | −0.7% | +0.3% | −0.8% | −1.1% | −0.2% | +0.5% | +0.1% |
| 2021 | +0.1% | 0.0% | 0.0% | +0.1% | +0.1% | −0.3% | +0.2% | −0.1% | −0.1% | −0.2% | −0.2% | −0.2% |
| 2020 | +0.6% | +0.8% | +1.0% | +0.2% | +0.2% | 0.0% | +0.1% | 0.0% | 0.0% | −0.2% | 0.0% | +0.1% |
| 2019 | — | — | — | — | — | — | −0.2% | +0.7% | −0.2% | +0.2% | −0.1% | +0.1% |
TWARX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 1.58%
- 3-year Sharpe ratio: -0.60 (vs 4.5% risk-free rate)
- Best month: +1.19% (Dec 2023)
- Worst month: −0.70% (Oct 2024)
TWARX Fund Flows
Monthly money in and out of Short-Term Government Fund, from SEC Form N-PORT.
- 12-month net flow: −$21.8M
- 12-month gross sales (incl. reinvestments): $55.4M
- Sales ÷ redemptions: 0.72×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $3.5M | $6.1M | −$2.5M |
| May 2026 | $4.6M | $5.0M | −$421K |
| Apr 2026 | $2.6M | $5.7M | −$3.1M |
| Mar 2026 | $3.5M | $8.5M | −$5.0M |
| Feb 2026 | $3.2M | $4.8M | −$1.7M |
| Jan 2026 | $11.9M | $6.0M | $6.0M |
| Dec 2025 | $6.4M | $10.6M | −$4.2M |
| Nov 2025 | $3.9M | $7.8M | −$3.9M |
| Oct 2025 | $4.9M | $6.0M | −$1.2M |
| Sep 2025 | $4.5M | $4.8M | −$270K |
| Aug 2025 | $2.3M | $6.4M | −$4.0M |
| Jul 2025 | $4.0M | $5.5M | −$1.4M |
TWARX Assets Under Management
Net assets of Short-Term Government Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $181.19M |
| 2026-03-31 | $188.47M |
| 2025-12-31 | $190.21M |
| 2025-09-30 | $199.28M |
| 2025-06-30 | $204.59M |
| 2025-03-31 | $208.56M |
| 2024-12-31 | $201.06M |
| 2024-09-30 | $209.22M |
| 2024-06-30 | $180.73M |
| 2024-03-31 | $187.08M |
| 2023-12-31 | $191.21M |
| 2023-09-30 | $189.25M |
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.