Brown Advisory Mortgage Securities Instl (BAFZX)

Fund Assets	261.46M
Expense Ratio	0.46%
Min. Investment	$1,000,000
Turnover	221.00%
Dividend (ttm)	0.41
Dividend Yield	4.61%
Dividend Growth	3.12%
Payout Frequency	Monthly
Ex-Dividend Date	Jul 31, 2026

Previous Close	9.00
YTD Return	0.46%
1-Year Return	3.60%
5-Year Return	1.87%
52-Week Low	8.90
52-Week High	9.32
Beta (5Y)	n/a
Holdings	349
Inception Date	May 13, 2014

About BAFZX

The Brown Advisory Mortgage Securities Fund Institutional Class is an open-end mutual fund specializing in fixed income, with a focus on mortgage-related securities. Its primary goal is to maximize total return while preserving capital, which it seeks to achieve by investing at least 80% of its assets in investment-grade mortgage-backed and asset-backed securities, predominantly those rated BBB- or higher by S&P. The fund primarily targets securities with maturities between 2 and 8 years, emphasizing careful security selection and detailed prepayment analysis to mitigate interest rate and credit risks. Notably, it maintains a concentrated portfolio of high-conviction holdings, opting for independent security analysis over strict replication of benchmark indexes. Sectors key to its operations include residential and commercial mortgage markets, along with selective exposure to U.S. Treasuries and cash equivalents. The fund plays a significant role in the intermediate government bond category, offering institutional investors a vehicle for access to the U.S. mortgage securities market with a relatively modest expense ratio, positioning itself to potentially enhance yield and manage volatility within a fixed income allocation.

• Fund Family: Brown Advisory Funds
• Category: US Mortgage
• Performance Rating: Above Average
• Risk Rating: Below Average
• Stock Exchange: NASDAQ
• Ticker Symbol: BAFZX
• Share Class: Institutional Shares
• Index: Bloomberg Global Aggregate MBS TR

Performance

BAFZX had a total return of 3.60% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.87%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
BIAZX	Investor Shares	0.51%

Top 10 Holdings

32.01% of assets

Name	Symbol	Weight
Cash Offset	n/a	9.90%
Federal National Mortgage Association	FNCL.2 8.13	4.88%
First American Government Obligs Z	FGZXX	4.01%
Federal National Mortgage Association	FNCL.6 8.11	2.33%
Federal National Mortgage Association	FNCL.3.5 8.11	2.25%
United States Treasury Bills 0%	B.0 12.01.26	2.07%
Federal National Mortgage Association	FNCL.6.5 8.11	2.01%
Federal National Mortgage Association	FNCL.3 8.11	1.76%
Federal Home Loan Mortgage Corp. 3.35%	FHMS.K061 A2	1.58%
Federal National Mortgage Association	FNCL.4 8.11	1.22%

Dividend History

Ex-Dividend	Amount	Pay Date
Jul 31, 2026	$0.03573	Jul 31, 2026
Jun 30, 2026	$0.03505	Jun 30, 2026
May 29, 2026	$0.03306	May 29, 2026
Apr 30, 2026	$0.0322	Apr 30, 2026
Mar 31, 2026	$0.03652	Mar 31, 2026
Feb 27, 2026	$0.02962	Feb 27, 2026

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Aug 28, 2026

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