Morgan Stanley Long Duration Government Opportunities Fund Class I (USGDX)
| Fund Assets | 205.74M |
| Expense Ratio | 0.49% |
| Min. Investment | $5,000,000 |
| Turnover | 520.00% |
| Dividend (ttm) | 0.36 |
| Dividend Yield | 5.38% |
| Dividend Growth | 5.09% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jun 26, 2025 |
| Previous Close | 6.65 |
| YTD Return | 2.62% |
| 1-Year Return | -3.07% |
| 5-Year Return | -14.86% |
| 52-Week Low | 6.24 |
| 52-Week High | 7.72 |
| Beta (5Y) | 0.34 |
| Holdings | 177 |
| Inception Date | Jul 28, 1997 |
About USGDX
Morgan Stanley Long Duration Government Opportunities Fund Class I is an open-end mutual fund specializing in long-duration U.S. government securities. The fund's primary objective is to deliver a high level of current income while maintaining safety of principal. It targets an average portfolio duration of at least ten years, positioning it to benefit from movements in long-term interest rates. A defining feature of the fund is its strong focus on agency mortgage-backed securities, which make up the majority of its holdings. The portfolio also includes collateralized mortgage obligations (CMOs), fixed-rate passthroughs, hybrid adjustable-rate mortgages, and a smaller allocation to other government-backed assets and cash equivalents. This approach leverages the team's expertise in prepayment analysis and security structure selection, aiming to reduce credit risk while seeking yields that exceed benchmark levels. The fund is designed for institutional investors, requiring a minimum initial investment of $1,000,000 for Class I shares. It plays a significant role for investors seeking exposure to high-quality, long-duration government debt as part of a diversified fixed income strategy. As a member of the Morningstar Long Government category, it is used to manage interest rate sensitivity and duration in complex portfolios.
Performance
USGDX had a total return of -3.07% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.72%.
Top 10 Holdings
62.52% of assets| Name | Symbol | Weight |
|---|---|---|
| UMBS, TBA - Uniform Mortgage-Backed Security, TBA | FNCL.5 4.11 | 16.40% |
| UMBS, TBA - Uniform Mortgage-Backed Security, TBA | FNCL.5.5 4.11 | 10.99% |
| Government National Mortgage Association | GNR.2023-84 MW | 7.85% |
| Government National Mortgage Association | GNR.2023-99 AL | 5.72% |
| Freddie Mac REMICS | FHR.5324 MZ | 4.48% |
| Government National Mortgage Association | GNR.2023-165 EY | 4.06% |
| Government National Mortgage Association | GNR.2023-98 BW | 3.73% |
| TENN VALLEY AUTHORITY - Tennessee Valley Authority | n/a | 3.47% |
| Government National Mortgage Association - Ginnie Mae | n/a | 2.91% |
| Government National Mortgage Association | GNR.2023-84 DL | 2.90% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jun 26, 2025 | $0.02761 | Jun 26, 2025 |
| May 28, 2025 | $0.02943 | May 28, 2025 |
| Apr 28, 2025 | $0.03185 | Apr 28, 2025 |
| Mar 27, 2025 | $0.02832 | Mar 27, 2025 |
| Feb 26, 2025 | $0.0257 | Feb 26, 2025 |
| Jan 29, 2025 | $0.02695 | Jan 29, 2025 |