UBS Ultra Short Income Fund - I share
Investment Objective
To provide current income while seeking to maintain low volatility of principal.
| Ticker symbol | USDIX |
|---|---|
| CUSIP | 902656305 |
| Minimum Initial Investment | $10,000,000 |
| Inception Date | 5/29/2018 |
| 7-day yield1 Unsubsidized yield2 |
|
|---|---|
| 30-Day SEC Yield3 Unsubsidized yield2,3 |
|
| Distribution rate4 | |
| Duration (years)5 | 0.36 |
| Average life (years)6 | 0.63 |
| Total Fund net assets ($)7 |
Performance (Net of Fees)
| Updated as of: |
Average Annual Total Return (%) as of Month End: |
Average Annual Total Return (%) as of Quarter End: |
Annual Operating Expense Ratio (%) as of 2023-08-28 |
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| NAV | NAV Change |
YTD | 1 Year |
3 Year |
5 Year |
10 Year |
Life | 1 Year |
3 Year |
5 Year |
10 Year |
Life | Gross expense Ratio |
Net expense Ratio |
Performance Inception |
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| UBS Ultra Short Income - I |
0.34% | 0.23% | 05/29/2018 | |||||||||||||
| ICE BofAML 3-month U.S. Treasury Bill Index7 |
n/a | n/a | n/a | n/a | n/a | |||||||||||
The UBS Ultra Short Income Fund ("the Fund") and UBS Asset Management (Americas) LLC. ("UBS-AM") have entered into a written fee waiver/expense reimbursement agreement pursuant to which UBS-AM is contractually obligated to waive its management fee and/or reimburse expenses so that the fund’s ordinary total operating expenses through August 31, 2024 (excluding dividend expense, borrowing costs, and interest expense relating to short sales, and expenses attributable to investment in other investment companies, interest, taxes, brokerage commissions, expenses related to shareholders’ meetings and extraordinary expenses) would not exceed 0.35% for Class A, 0.25% for Class P and 0.23% for Class I. The Fund has agreed to repay UBS-AM for any waived fees/reimbursed expenses to the extent that it can do so over the following three fiscal years without causing the class expenses in any of those three years to exceed this expense cap and that UBS-AM has not waived the right to do so. The fee waiver/expense reimbursement agreement may be terminated by the Fund’s board at any time and also will terminate automatically upon the expiration or termination of the Fund’s advisory contract with UBS-AM. Upon termination of the agreement, however, UBS-AM’s three year recoupment rights will survive. For detailed information, please refer to the Fund’s prospectus.
Six-Month Historical NAV
in USD
Investment Approach
UBS-AM selects investments for the fund based on a rigorous valuation and research framework, combining top-down macroeconomic and quantitative research with issuer level credit analysis. We seek to use this dynamic approach to capitalize on diversified sources of return, which we believe is key to delivering consistent performance over time.
| Portfolio Management |
Scott Dolan, Managing Director David G. Rothweiler, Executive Director Robert Sabatino, Managing Director David J. Walczak, CFA, FRM, Managing Director |
|---|
1The 7-day yield is calculated daily (net of expenses) based on previous 7 days. As of .
2Unsubsidized yield refers to the yield before waivers/reimbursements.
3The 30-day SEC yield is calculated monthly. As of .
4Distribution rate is calculated monthly, based on distributions over the most recent month (including any return on capital and excluding capital gains) annualized and divided by month-end net asset value per share. As of .
5Effective duration is a measure of a portfolio’s sensitivity to interest rates, or the change in the value of a security or portfolio that will result from a 1% change in interest rates. Duration is measured in years and calculated monthly. As of 2024-10-31.
6Average life is the length of time the principal of a debt issue is expected to be outstanding and calculated monthly. As of 2024-10-31.
7Assets are quoted in USD/millions.
8ICE BofAML US 3-Month Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. At the end of the month that issue is sold and rolled into a newly selected issue. The issue selected at each month-end rebalancing is the outstanding Treasury Bill that matures closest to, but not beyond, three months from the rebalancing date. To qualify for selection, an issue must have settled on or before the month-end rebalancing date.
Mutual funds are sold by prospectus. Investors should carefully read and consider a mutual Fund's investment objectives, risks, charges and expenses before investing. The prospectus contains this and other information about the Fund. You may obtain a prospectus by selecting the "Documents" tab on the navigation bar above.
Performance data quoted represent past performance, and the Fund's yield will fluctuate. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted.
Current and future portfolio holdings are subject to risk.
Performance Considerations
Performance results assume the reinvestment of all dividends and capital gains, and are shown both with and without the effect of the maximum applicable sales charges. The investment return and principal value of an investment will fluctuate, and Fund shares, when redeemed may be worth more or less than their original cost. Accordingly, you can lose money investing in a Fund. Performance is historical and no guarantee of future results. Certain Funds were subject to certain fee waivers and/or expense reimbursements for certain reported periods. The performance of such Funds would have been lower if the Fund had borne all the expenses that were waived or reimbursed.
Risk information
There is no assurance that the Fund will achieve its investment objective. There are certain risks associated with investing in the Fund, which include: interest rate risk, credit risk, prepayment or call risk, political risk, focus risk, tax liability risk, US government securities risk, illiquidity risk, high yield bond risk, non-diversification risk, derivatives risk, leverage risk associated with financial instruments, management risk, and market risk. For detailed information about the Fund’s main risks, please refer to the Fund’s prospectus.
Interest rate risk: An increase in prevailing interest rates typically causes the value of fixed income securities to fall. Changes in interest rates will likely affect the value of longer-duration fixed income securities more than shorter-duration securities and higher-quality securities more than lower-quality securities.
Credit risk: The risk that the strategy could lose money if the issuer or guarantor of a fixed income security, or the counterparty to the guarantor of a derivative contract, is unable or unwilling to meet its financial obligations. This risk is greater for lower-quality investments than for investments that are higher quality.
Investor concerns and suitability
Investors in the Fund should be able to withstand short-term fluctuations in the fixed income markets in return for potentially higher returns over the long term. The value of the Fund’s portfolio changes every day and may be affected by changes in interest rates, general market conditions, and other political, social and economic developments, as well as specific matters relating to the issuers and companies in whose securities the Fund invests. Shares of Funds are not deposits or obligations of any bank or government agency and are not guaranteed by the FDIC or any other agency. The Fund is not a money market fund.
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