Core Fixed Income Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Core Fixed Income Fund held 478 positions with $10.41B in net assets. Its ten largest holdings made up 5.8% of the fund. The CMPIX share class costs 0.71% a year. Over the 12 months to May 2026, CMPIX returned 4.9%, with dividends reinvested. In 2026 Q3 it added 14 new positions and exited 32.
The Fund seeks to provide a high level of current income consistent with preservation of capital.
The fund invests at least 80% of assets in investment-grade fixed-income securities, including corporate bonds, government debt, securitized products, bank loans, and foreign securities rated BBB- or higher. It maintains average portfolio duration within 25% of the Bloomberg US Aggregate Index. Because unrated securities are evaluated by the fund's own judgment rather than by external rating agencies, the credit quality of those holdings depends on the fund's assessment.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Principal Funds, Inc - Government Money Market Fund - Class R-6 | 1.23% | $127.68M | — |
AbbVie Inc 5.05% · due 2034-03-15 | 0.58% | $60.83M | — |
Biogen Inc 2.25% · due 2030-05-01 | 0.57% | $59.46M | — |
Waste Connections Inc 5.25% · due 2035-09-01 | 0.51% | $52.99M | — |
American Tower Corp 2.75% · due 2027-01-15 | 0.50% | $52.47M | — |
Truist Bank 4.63% floating · due 2029-09-17 | 0.50% | $51.65M | — |
Ryder System Inc 2.90% · due 2026-12-01 | 0.49% | $50.56M | — |
PNC Bank NA 2.70% · due 2029-10-22 | 0.48% | $49.88M | — |
Citigroup Inc 2.98% floating · due 2030-11-05 | 0.46% | $48.26M | — |
NextEra Energy Capital Holdings Inc 2.75% · due 2029-11-01 | 0.46% | $48.31M | — |
The 200 largest of 478 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 73.21% |
| Securitized | 25.08% |
| Cash & short-term | 1.23% |
| Stocks | 0.06% |
| Derivatives | -0.05% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- Securitized
- 25.1%
- Other
- 19.2%
- Government
- 13.9%
- Financials
- 9.9%
- 11 other sectors
- 31.9%
- Securitized
- 25.1%
- Other
- 19.2%
- Government
- 13.9%
- Financials
- 9.9%
- Utilities
- 8.6%
- Real Estate
- 6.1%
- Health Care
- 5.1%
- Information Technology
- 2.7%
- International
- 2.0%
- Communication Services
- 2.0%
- Consumer Discretionary
- 1.8%
- Cash
- 1.5%
- Industrials
- 1.4%
- Materials
- 0.5%
- Energy
- 0.2%
How it has done
CMPIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.21%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 8 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.71% | +4.92% | +11.71% | -0.13% | -5.28% | |
| 0.43% | +5.20% | +12.63% | +1.31% | -5.12% | |
| 0.57% | +5.05% | +12.21% | +0.55% | -5.18% | |
| 0.59% | +5.03% | +12.12% | +0.53% | -5.18% | |
| — | — | — | — | — | |
| 0.90% | +4.68% | +11.01% | -1.02% | -5.30% | |
| — | — | — | — | — | |
| 0.34% | +5.31% | +12.97% | +1.83% | -5.08% |
Fees & fund details
Core Fixed Income Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
- Expense ratio, by class
- 0.34% – 0.90%· CMPIX 0.71%
- Portfolio turnover
- 13.40% a year · as of 2026 Q1
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
14 new· the largest 8
32 exited· the largest 6
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 91.6% |
| Floating rate | 8.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 4.9% |
| 1-3y | 13.5% |
| 3-5y | 20.1% |
| 5-10y | 18.1% |
| 10y+ | 43.4% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 57% |
| Credit spreads | 43% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +4.35 yr |
| High yield | +0.05 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.14 yr | 2% |
| 5 yr | 1.78 yr | 31% |
| 10 yr | 1.69 yr | 29% |
| 30 yr | 2.16 yr | 37% |
| 3 mo | 0.02 yr | 1% |
| 1 yr | 0.10 yr | 2% |
| 5 yr | 1.35 yr | 31% |
| 10 yr | 1.28 yr | 29% |
| 30 yr | 1.64 yr | 37% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.03 | +0.02 | +0.00 | $24.1k | $287 |
| 1 yr | +0.14 | +0.10 | +0.00 | $106.1k | $1.3k |
| 5 yr | +1.78 | +1.34 | +0.02 | $1.39m | $16.5k |
| 10 yr | +1.69 | +1.27 | +0.02 | $1.32m | $15.7k |
| 30 yr | +2.16 | +1.62 | +0.02 | $1.69m | $20.1k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
Understand how this fund fits with the rest.
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