Brown Advisory Mortgage Securities Instl (BAFZX)
| Fund Assets | 267.68M |
| Expense Ratio | 0.46% |
| Min. Investment | $1,000,000 |
| Turnover | 221.00% |
| Dividend (ttm) | 0.42 |
| Dividend Yield | 4.62% |
| Dividend Growth | 4.10% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jun 30, 2026 |
| Previous Close | 9.02 |
| YTD Return | 0.29% |
| 1-Year Return | 4.90% |
| 5-Year Return | 1.55% |
| 52-Week Low | 8.94 |
| 52-Week High | 9.32 |
| Beta (5Y) | n/a |
| Holdings | 345 |
| 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.
Performance
BAFZX had a total return of 4.90% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.88%.
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
26.18% of assets| Name | Symbol | Weight |
|---|---|---|
| Cash Offset | n/a | 6.45% |
| Federal National Mortgage Association | FNCL.2 6.13 | 5.80% |
| Federal National Mortgage Association | FNCL.3 6.11 | 3.30% |
| Federal National Mortgage Association | FNCL.3.5 6.11 | 2.48% |
| First American Government Obligations Fund | FGZXX | 2.23% |
| Federal National Mortgage Association | FNCL.4 6.11 | 1.43% |
| 10 Year Treasury Note Future Sept 26 | n/a | 1.42% |
| Federal Home Loan Mortgage Corp. 6% | FR.SD4697 | 1.22% |
| Verizon Master Trust 5% | VZMT.2024-5 A | 0.96% |
| Federal National Mortgage Association 2.5% | n/a | 0.89% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| 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 |
| Jan 30, 2026 | $0.03082 | Jan 30, 2026 |