Brown Advisory Mortgage Securities Fund Investor Shares (BIAZX)

Fund Assets	237.09M
Expense Ratio	0.52%
Min. Investment	$100
Turnover	257.00%
Dividend (ttm)	0.41
Dividend Yield	4.68%
Dividend Growth	0.30%
Payout Frequency	Monthly
Ex-Dividend Date	Sep 30, 2026

Previous Close	8.65
YTD Return	-2.71%
1-Year Return	-1.99%
5-Year Return	-1.12%
52-Week Low	8.55
52-Week High	9.34
Beta (5Y)	0.22
Holdings	351
Inception Date	Dec 26, 2013

About BIAZX

The Brown Advisory Mortgage Securities Fund Investor Shares is an open-end mutual fund specializing in mortgage-backed securities within the fixed income sector. Its primary function is to deliver income potential by investing predominantly in investment-grade, mortgage-related securities, constituting at least 80% of its net assets. The fund utilizes individual security analysis and prepayment analysis to identify holdings with slower payback speeds, aiming to maintain a steady yield stream and manage interest rate risk. The remaining allocation can include non-investment-grade or unrated securities, and the fund may also use derivatives for risk management purposes. The portfolio tends to be concentrated, featuring high-conviction positions and a typical expected life of 2 to 8 years for most securities. It benchmarks its performance against the Bloomberg Mortgage Backed Securities Index and targets investors seeking exposure to mortgage bonds within the intermediate government bond category. Managed by an experienced team, the fund emphasizes long-term, risk-adjusted returns and disciplined active management in the mortgage securities space, making it a notable participant in the broader fixed income market.

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

Performance

BIAZX had a total return of -1.99% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.70%.

Other Share Classes

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

Symbol	Share Class	Expense Ratio
BAFZX	Institutional Shares	0.46%

Top 10 Holdings

29.59% of assets

Name	Symbol	Weight
Cash Offset	n/a	9.77%
Federal National Mortgage Association	FNCL.2 9.13	5.89%
Federal National Mortgage Association	FNCL.6 9.11	2.46%
Federal National Mortgage Association	FNCL.6.5 9.11	2.12%
Federal National Mortgage Association	FNCL.3 9.11	1.85%
First American Government Obligs Z	FGZXX	1.80%
Federal National Mortgage Association	FNCL.3.5 9.11	1.79%
Federal Home Loan Mortgage Corp. 3.35%	FHMS.K061 A2	1.52%
Federal National Mortgage Association	FNCL.5.5 9.11	1.25%
Federal Home Loan Mortgage Corp. 6%	FR.SD4697	1.14%

Dividend History

Ex-Dividend	Amount	Pay Date
Sep 30, 2026	$0.03597	Sep 30, 2026
Aug 31, 2026	$0.03233	Aug 31, 2026
Jul 31, 2026	$0.03535	Jul 31, 2026
Jun 30, 2026	$0.03465	Jun 30, 2026
May 29, 2026	$0.0327	May 29, 2026
Apr 30, 2026	$0.03181	Apr 30, 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:

Oct 16, 2026

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