Brandes Separately Managed Account Reserve Trust (SMARX)
| Fund Assets | 198.80M |
| Expense Ratio | n/a |
| Min. Investment | $0.00 |
| Turnover | 6.22% |
| Dividend (ttm) | 0.37 |
| Dividend Yield | 4.70% |
| Dividend Growth | 7.00% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Mar 31, 2026 |
| Previous Close | 7.92 |
| YTD Return | -0.05% |
| 1-Year Return | 3.98% |
| 5-Year Return | 10.11% |
| 52-Week Low | 7.78 |
| 52-Week High | 8.09 |
| Beta (5Y) | 0.31 |
| Holdings | 10 |
| Inception Date | Oct 3, 2005 |
About SMARX
Brandes Separately Managed Account Reserve Trust is a mutual fund that primarily focuses on maximizing long-term total return through a diversified portfolio of debt securities. The fund is structured specifically for clients participating in wrap account programs managed by affiliated broker-dealers, meaning it is not typically available as a stand-alone investment. It invests in a range of fixed income securities, which may include those with yield premiums over U.S. Treasury securities, and has flexibility to hold both U.S. dollar and non-U.S. dollar instruments, with the ability to hedge currency exposure as needed. The fund typically maintains a portfolio duration between one and ten years, adjusting based on the economic outlook and interest rate environment. Managed by a dedicated fixed income team with significant industry experience, the fund plays a role as a component within broader fixed income strategies, aiming to deliver steady risk-adjusted returns for clients within managed investment solutions. Its low expense structure is a notable feature, as most associated fees are charged at the wrap account level rather than within the fund itself, supporting its use as an efficient fixed income building block in portfolio construction.
Performance
SMARX had a total return of 3.98% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.95%.
Top Holdings
59.54% of assets| Name | Symbol | Weight |
|---|---|---|
| United States Treasury Bonds 0% | T.4.75 02.15.37 | 13.09% |
| United States Treasury Notes 0% | T.4.375 05.15.34 | 11.76% |
| United States Treasury Bonds 0% | T.3 05.15.47 | 7.69% |
| United States Treasury Bonds 0% | T.3.75 11.15.43 | 6.15% |
| United States Treasury Bonds 0% | T.3.5 02.15.39 | 4.95% |
| USB Capital IX 0% | USB.V0 PERP | 3.43% |
| Bank of America Corp. 0% | BAC.4.45 03.03.26 MTN | 3.42% |
| Northern Institutional Funds - Treasury Portfolio | NTPXX | 3.13% |
| Goldman Sachs Group, Inc. 0% | GS.V3.8 PERP T | 3.08% |
| Univision Communications Inc. 0% | UVN.8.5 07.31.31 144A | 2.83% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Mar 31, 2026 | $0.03488 | Mar 31, 2026 |
| Feb 27, 2026 | $0.03147 | Feb 27, 2026 |
| Jan 30, 2026 | $0.03467 | Jan 30, 2026 |
| Dec 31, 2025 | $0.03488 | Dec 31, 2025 |
| Nov 28, 2025 | $0.03396 | Nov 28, 2025 |
| Oct 31, 2025 | $0.03495 | Oct 31, 2025 |