Praxis Impact Bond Fund

Strategy

  • Invests primarily in a wide range of U.S. corporate debt securities, notes and bonds issued by agencies of the U.S. government, and mortgage-backed securities.
  • Invests primarily in securities with a maximum maturity of 30 years or less.
  • Invests primarily in securities rated within the top four rankings of one or more nationally recognized rating organizations.
  • Avoids investments in U.S. Treasury bills, notes and bonds.

Risks

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 rising interest rates.

Making a difference

Praxis stewardship investing is a values-based approach to socially responsible investing that incorporates: 

  • Values-based restrictive screens and active ESG data integration
  • Corporate engagement strategy
  • Positive impact bond investments benefitting the climate and communities
  • One percent of the fund assets committed to community development investing

 

Fund performance chart

as of 10/31/2018

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  YTD 3yr 5yr 10yr Inception (Sep 30, 1999)
Praxis Impact Bond Fund - Class A
(without sales charge)
-2.44% 0.68% 1.48% 4.11% 4.11%
Praxis Impact Bond Fund - Class A
(with sales charge)
-6.05% -0.61% 0.70% 3.71% 3.90%
Bloomberg Barclays U.S. Aggregate Index -2.38% 1.04% 1.83% 3.94% — 

Download the quarterly fact sheet (PDF) for standardized performance.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost.

For the periods indicated, the performance depicted for Class A shares uses historic performance of the Class B shares for the period from Jan. 4, 1994, to May 11, 1999, but imposes the expense structure of Class A shares. The performance depicted for Class I shares uses historic performance of the Class B shares for the period from Jan. 4, 1994, to May 11, 1999 and Class A shares for the period May 12, 1999 to April 30, 2006; but imposes the expense structure of Class I shares.

Bloomberg Barclays U.S. Aggregate Bond Index is an index of widely held fixed-income securities often used as a proxy for the bond market. It is comprised of the U.S. Treasury and U.S. agency bonds, mortgage-backed bonds, and higher-grade corporate bonds. Indexes are unmanaged, do not incur fees, and it is not possible to invest directly in an index.

Fund holdings

as of 10/31/2018

Sectors

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Top Holdings

Subject to change View all holdings
FNMA 6.625% 11/15/30 4.23%
FHLB 5.5% 07/15/36 4.10%
FHLMC 6.25% 07/15/32 4.01%
FNMA 2.625% 09/06/24 2.68%
FNMA 1.875% 09/24/26 2.61%
FNMA 1.875% 04/05/22 2.42%
FHLMC 2.375 01/13/22 1.61%
HASHEMITE 2.503% 10/30/20 0.96%
INTL DEVEL 2.75% 04/24/23 0.95%
FNMA 2.375% 01/19/23 0.85%

Positive impact bonds diversification

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Almost 30 percent of the Praxis Impact Bond Fund assets are in positive impact bonds as of June 30, 2018.

See the top sectors of positive impact bonds in the portfolio.

Download the Impact Bond impact sheet (PDF) to read more about the impact.

 

Investments are subject to market fluctuations, may lose value, are subject to change, and are not subject to any company or government guarantees.

Management

Benjamin Bailey
Benjamin J. Bailey, CFA®
Benjamin Bailey joined Everence in 2000 and was named co-portfolio manager of the Praxis Impact Bond Fund in March 2005, and co-manager of the Praxis Genesis Portfolios in June 2013. In 2015, he was named senior fixed income investment manager, providing leadership to the fixed income team and oversight to external sub-advisory relationships. In 2017, Benjamin was named Vice President of Investments, providing leadership to the investment management team. He is a 2000 graduate of Huntington College in business-economics. Benjamin is a CFA® charterholder.
Chris Woods
Chris Woods, CFA®

Chris Woods was named co-portfolio manager of the Praxis Impact Bond Fund in May 2018. He began his investment career with Everence in 2017 after working with fixed-income investment portfolios since 1983 in Columbus, Ohio, Washington, D.C., and New York City. Chris earned a bachelor’s degree in finance from The Ohio State University. Chris is a CFA® charterholder.

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Making a difference

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Disclosure

A $25 annual fee applies to accounts under $5,000.

Reflects the expense ratio as reported in the Prospectus dated April 30, 2018.