Morningstar Defensive Bond (MSTBX)

Fund Assets	97.57M
Expense Ratio	0.52%
Min. Investment	$0.00
Turnover	n/a
Dividend (ttm)	0.37
Dividend Yield	3.81%
Dividend Growth	-4.86%
Payout Frequency	Monthly
Ex-Dividend Date	Sep 30, 2026

Previous Close	9.62
YTD Return	-0.49%
1-Year Return	-0.28%
5-Year Return	11.68%
52-Week Low	9.59
52-Week High	9.95
Beta (5Y)	0.08
Holdings	213
Inception Date	Nov 2, 2018

About MSTBX

Morningstar Defensive Bond Fund is an actively managed mutual fund designed to prioritize capital preservation while generating income from fixed-income securities. The strategy typically maintains at least 80% of assets in a diversified mix of bonds across varying maturities and credit qualities, with an emphasis on short- and intermediate‑term, investment‑grade exposure to limit interest‑rate sensitivity and volatility. The portfolio features a significant allocation to U.S. Treasuries and cash-like instruments, complemented by securitized assets and selective corporate holdings to balance stability with income potential. The fund’s risk profile aligns with the short‑term bond category, targeting limited interest‑rate risk and medium credit quality, and it distributes income monthly. With an established expense structure and institutional share class, it serves as a conservative core or ballast allocation within multi-asset portfolios, aiming to dampen drawdowns during periods of market stress while maintaining liquidity and diversification across high-quality fixed-income segments.

• Fund Family: Morningstar
• Category: Short-Term Bond
• Performance Rating: Above Average
• Risk Rating: Average
• Stock Exchange: Nasdaq
• Ticker Symbol: MSTBX
• Share Class: Institutional
• Index: Bloomberg U.S. Aggregate Bond TR

Performance

MSTBX had a total return of -0.28% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.60%.

Top 10 Holdings

69.46% of assets

Name	Symbol	Weight
Schwab Short-Term US Treasury ETF	SCHO	32.98%
iShares Ultra Short Duration Bond Active ETF	ICSH	12.19%
Vanguard Short-Term Inflation-Protected Securities ETF	VTIP	7.61%
United States Treasury Notes 3.75%	T.3.75 01.31.31	5.59%
Northern Institutional Treasury Premier	NTPXX	4.48%
United States Treasury Notes 3.5%	T.3.5 02.28.31	2.49%
United States Treasury Notes 3.875%	T.3.875 04.30.31	1.13%
United States Treasury Bills 0%	B.0 08.06.26	1.10%
PHI Group Inc	PHIG	1.07%
Federal National Mortgage Association 1%	FN.FS1967	0.83%

Dividend History

Ex-Dividend	Amount	Pay Date
Sep 30, 2026	$0.02444	Sep 30, 2026
Aug 31, 2026	$0.02658	Aug 31, 2026
Jul 31, 2026	$0.03857	Jul 31, 2026
Jun 30, 2026	$0.03411	Jun 30, 2026
May 29, 2026	$0.02335	May 29, 2026
Apr 30, 2026	$0.02903	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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