Fund Goal

Through this broadly diverse fund, you can benefit from investments in corporate and government fixed-income securities as well as mortgage-backed securities (MBS) and asset-backed securities (ABS), with the fund maintaining a dollar-weighted average maturity of three years or more, and generally no longer than 10 years.

Process

Our Fixed Income management process is fundamentally driven, disciplined and value oriented. We construct portfolios using duration management, yield curve positioning, sector allocation, and security selection, and use these strategies as a blueprint to earn results for you.

How We Make Fixed Income Funds Work For You:

Discover

We seek opportunities to generate returns for our investors.

Assess

We test our discoveries for relative value and associated risk. If it’s not worth it, we go back to the drawing board.

Invest

We invest in assets that have value within the current market and buy when we believe the price is right.

Monitor

We monitor our investments closely. We ensure our reasoning remains valid and, if it isn’t, we return to the discovery phase.

Market Concerns

Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of changing interest rates.

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Morningstar Ratings

Rating
Overall Morningstar Rating

Lipper Leaders Designation

  • 5
    Expense
    Lipper Leader
    Expense
    (Investor Shares)

Lipper Rankings

Category: Lipper Core Bond Funds (As of 6/30/2019)

RankPercentile
1 Year403/51079
3 Year395/44689
5 Year280/37974
10 Year34/29112
Rankings are for Investor Class and are based on average annual total returns, but do not consider sales charges.Rankings are for Investor Class and are based on average annual total returns, but do not consider sales charges.The Lipper ratings for Preservation reflect the funds' historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative measures, rather than absolute measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Lipper ratings for Expense identify a fund that has successfully managed to keep its expenses low relative to its peers and within its load structure. Lipper ratings are subject to change every month and are based on an equal weighted average of percentile ranks for Preservation and Expense metrics over three-, five-, and ten- year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leaders with a rating of 5, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1.The Lipper Mutual Funds Average is an equally weighted average of the mutual funds within their respective Lipper classification, adjusted for reinvestment of capital gains distributions and income dividends. Lipper ratings are not intended to predict future results., and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Thomson Reuters Copyright 2019, all rights reserved.Past performance is no guarantee of future results.The Morningstar Rating for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. the top 10% of products in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Cavanal Hill Bond Fund was rated against the following numbers of intermediate-core bond funds over the following time periods: 343 funds in the last three years, 302 funds in the last five years, and the 227 funds in the last ten years. Past performance is no guarantee of future results.2019 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Fund Information as of 9/30/19

Class AInstitutionalInvestor
Net Asset Value$9.74$9.72$9.75
SymbolAABOXAIBNXAPBDX
CUSIP14956P66114956P85114956P869
Inception05/02/1112/29/0509/28/90
Gross Expense Ratio0.84%0.74%0.99%
Net Expense Ratio0.74%0.49%0.76%

Fund Statistics as of 9/30/19

Total Net Assets$106,148,236
Number of Holdings183
Turnover Ratio26.65%
5-Year Standard Deviation2.71
Weighted Average Maturity (bonds)6.79 yrs.
Effective Duration (bonds)5.58 yrs.

Contractual fee waivers are in effect from December 26, 2018 through December 31, 2019.

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