UDBAX — UBS Sustainable Development Bank Bond Fund
Data updated: 2026-09-11
UDBAX — UBS Sustainable Development Bank Bond Fund. Intermediate Corporate Bond · $79.97M AUM. Holdings, fees, performance and SEC filings.
UDBAX Fund Overview
UDBAX — UBS Sustainable Development Bank Bond Fund is a US mutual fund managed by Ubs Funds, categorised as Intermediate 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: Ubs Funds
- Category: Intermediate Corporate Bond
- Assets under management: $79.97M
- Ticker: UDBAX
- SEC CIK: 0000886244
- SEC series ID: S000063382
- Share class ID: C000205445
UDBAX Investment Objective and Strategy
UBS Sustainable Development Bank Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ubs Funds.
Investment objective
The Fund seeks current income.
Principal investment strategy
"Principal investments Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes, if any) in bonds and/or instruments that provide exposure to bonds issued by development banks. Development banks are financial organizations formed by government entities to promote economic and social development. The Fund invests in multilateral development bank bonds but may also invest in regional or national development bank obligations. The Fund's investment in obligations issued by the International Bank for Reconstruction and Development and the Inter-American Development Bank may be significant, but the Fund normally will not invest more than 25% of its net assets in either issuer. Under normal circumstances, the Fund will invest in securities that, at the time of purchase, possess a minimum rating of A3 by Moody's Investors Service, Inc.
(""Moody's"") or A- by Standard & Poor's Financial Services LLC (""S&P"") or Fitch Ratings, Inc. (""Fitch""), comparably rated by another nationally recognized statistical rating organization, or, if unrated, are determined by the Advisor to be of comparable quality. The Fund's investments in fixed income securities may have all types of interest rate payment and reset terms. The Fund generally invests only in US dollar-denominated securities. The Fund may, but is not required to, engage in derivatives transactions. Derivatives instruments such as futures may be used for risk management purposes to hedge against a specific security or for investment (non-hedging) purposes to earn or adjust portfolio duration. The Fund does not seek to use derivatives extensively. The Fund is a non-diversified fund.
Management process The Advisor seeks to invest in bonds issued by development banks. The Advisor constructs the portfolio consisting of multilateral and regional development banks. The Advisor focuses primarily on bonds issued by multilateral development banks which may include, but are not limited to, the World Bank, International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, the African Development Bank, and the European Bank for Reconstruction and Development. Development banks are formed by their member states with the objective to provide financial and technical assistance to improve overall living standards through sustainable economic development and growth. While each development bank has a distinct focus, development banks generally use their capital for projects that seek to improve the state of the developing world, promote sustainable growth and raise living standards.
The Advisor selects investments for the Fund based on available supply and liquidity parameters (including, for example, such factors as evaluating amounts outstanding, available dealer inventory, and volumes traded in the secondary market) utilizing a stratified sampling approach (investing in a representative cross-section of the investment universe) to optimize tracking error and minimize transaction cost. The Fund will be managed relative to a composite index, which is a blend of two market indexes designed to measure the performance of the US dollar denominated multilateral development bank bond market. The Fund seeks to minimize tracking error relative to the composite index but does not seek to directly replicate the index. The Fund's composite index is the Solactive UBS Global Multilateral Development Bank Bond USD 40% 1-5 Year 60% 5-10 Year Total Return Index.
(The Fund reserves the right in its discretion to change the index). The Fund's development bank bond investments may include issuers that are not part of the composite index. The Fund will seek to maintain a concentrated portfolio of development bank bonds emphasizing multilateral development banks. The portfolio management team will select the bonds in the market that meet their selection criteria with intention to provide similar risk/return characteristics as the broader development bank bond market. The Fund may engage in active trading to adjust the portfolio in response to investor activity and to rebalance the portfolio as new development bank issuers come to the market and existing issuers enter the index or mature."
UDBAX Holdings
Top 10 holdings of UBS Sustainable Development Bank Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Intl Development Assoc | 4.76% |
| Intl Bk Recon & Develop | 4.58% |
| Isdb Trust No 2 | 4.45% |
| Intl Bk Recon & Develop | 3.45% |
| Inter-American Devel Bk | 3.36% |
| European Bk Recon & Dev | 3.22% |
| Intl Bk Recon & Develop | 3.20% |
| Inter-American Devel Bk | 3.17% |
| African Development Bank | 2.82% |
| European Investment Bank | 2.66% |
UDBAX Portfolio Allocation
Asset-class allocation of UBS Sustainable Development Bank Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 98.4% |
| Cash & Equivalents | 1.5% |
UDBAX Performance
Total returns for UDBAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.3% |
| 1 year | 2.7% |
| 3 years (annualised) | 4.1% |
| 5 years (annualised) | 0.4% |
UDBAX Risk Information
Risk metrics for UDBAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.0%
UDBAX Costs and Fees
UDBAX costs about $35 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.35%
- Gross expense ratio: 0.92%
- Portfolio turnover: 49%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
UDBAX Cashflows
Over the 12 months to 2026-06, UBS Sustainable Development Bank Bond Fund had net inflows of $3.69M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $924.08K |
| 2026-05 | $1.71M |
| 2026-04 | $1.66M |
| 2026-03 | −$2.77M |
| 2026-02 | −$1.05M |
| 2026-01 | $1.05M |
UDBAX Debt Constituents
Largest debt holdings of UBS Sustainable Development Bank Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Intl Development Assoc | 4.76% |
| Intl Bk Recon & Develop | 4.58% |
| Isdb Trust No 2 | 4.45% |
| Intl Bk Recon & Develop | 3.45% |
| Inter-American Devel Bk | 3.36% |
| European Bk Recon & Dev | 3.22% |
| Intl Bk Recon & Develop | 3.20% |
| Inter-American Devel Bk | 3.17% |
| African Development Bank | 2.82% |
| European Investment Bank | 2.66% |
UDBAX Prospectus and SEC Filings
Official UBS Sustainable Development Bank Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-10-24
- Prospectus (485BPOS) — filed 2024-10-25
- Prospectus supplement (497) — filed 2024-11-01
- Portfolio holdings (N-PORT) — filed 2026-08-28
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-24
- Annual census (N-CEN) — filed 2026-09-11
- Annual census (N-CEN) — filed 2025-09-11
Related Funds
Other Intermediate Corporate Bond 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.