Fund Facts  

Inception Date: Apr 1, 2011
CUSIP: 066923400
Ticker Symbol: BMOAX
Morningstar Category:Intermediate Core Bond
As of Sep 30, 2020
Fund Net Assets ($millions) $2,540

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks to provide investment results that correspond to the total return performance of fixed-income securities in the aggregate, as represented by the Bloomberg Barclays U.S. Aggregate Bond Index.

Principal Investment Strategies  

The fund is a "feeder" fund that invests all of its assets in the Master Portfolio of MIP, which has the same investment objective and strategies as the fund. Under normal circumstances, at least 90% of the value of the fund's assets, plus the amount of any borrowing for investment purposes, is invested in securities comprising the Barclays U.S. Aggregate Index.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2020
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
iShares US Aggregate Bond Idxa0.49%6.67%6.78%4.90%3.80%N/A3.60%
Bloomberg Barclays U.S. Agg Bond Indexa,b0.62%6.79%6.98%5.24%4.18%3.64%N/A
Morningstar Intermediate Core Bonda,c0.94%6.50%6.66%4.88%3.94%3.49%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, participants or plan sponsors in an ICMA-RC administered account can log in at www.icmarc.org, or institutions can go to www.vantagepointfunds.org.

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Fund Expensesa,d
Gross Expenses0.36%
Net Expenses0.35%

 

a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2020 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Bloomberg Barclays U.S. Aggregate Bond Index consists of investment-grade U.S. fixed income securities.

c. The Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

d. Differences between the net and gross expense ratios of a fund are typically due to fee waivers, expense reimbursements, and/or expense limits.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Sep 30, 2020Sep 30, 2020$0.018158000
Aug 31, 2020Aug 31, 2020$0.016797000
Jul 31, 2020Jul 31, 2020$0.018415000
Jun 30, 2020Jun 30, 2020$0.020288000
May 29, 2020May 29, 2020$0.019872000
Apr 30, 2020Apr 30, 2020$0.022629000
Mar 31, 2020Mar 31, 2020$0.023605000
Feb 28, 2020Feb 28, 2020$0.020087000
Jan 31, 2020Jan 31, 2020$0.020722000
Dec 12, 2019Dec 12, 2019$0.027307000
Nov 29, 2019Nov 29, 2019$0.020061000
Oct 31, 2019Oct 31, 2019$0.022722000
Sep 27, 2019Sep 27, 2019$0.020485000
Aug 30, 2019Aug 30, 2019$0.021554000
Jul 31, 2019Jul 31, 2019$0.023760000
Jun 28, 2019Jun 28, 2019$0.021091000
May 31, 2019May 31, 2019$0.022843000
Apr 30, 2019Apr 30, 2019$0.024552000
 

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2020
Period Stars Category Size
Overall 3 Stars380
3-Year 3 Stars380
5-Year 3 Stars335
10-Year N/A N/A

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating/40% three–year rating for 60–119 months of total returns, and 50% 10–year rating/30% five–year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Sep 30, 2020
Fixed Income Stylebox
High Moderate
Allocation of Assets As of Aug 31, 2020
Type of Asset Percent
Equity0%
Fixed Income95%
Cash/Other5%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of Aug 31, 2020
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond86.5%
Foreign Bond7.5%
Preferred0.0%
Convertible0.9%
Cash5.2%
Other0.0%

Due to rounding, percentages shown may not add up to 100%.

 

Credit Quality As of Jun 30, 2020
Quality LevelPercent
AAA70.6%
AA2.7%
A12.6%
BBB14.1%
BB0.0%
B0.0%
Below B0.0%
Not Rated0.0%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

 
Top Ten Holdings As of Aug 31, 2020
Holding NamePercent
BlackRock Cash Funds Instl SL Agency10.0%
Federal National Mortgage Association 2.5%2.3%
United States Treasury Notes 1.5%1.1%
United States Treasury Notes 2.75%1.1%
Government National Mortgage Association 3%1.1%
Federal National Mortgage Association 3.5%1.0%
Federal National Mortgage Association 3%0.9%
United States Treasury Notes 2%0.9%
Federal National Mortgage Association 2.5%0.8%
Federal National Mortgage Association 4%0.7%
Fixed Income Sector As of Aug 31, 2020
SectorPercent
Government42.2%
Corporate27.2%
Securitized24.8%
Cash & Equivalents5.2%
Municipal0.7%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.

 
 

Statistics

Duration and Maturity As of Jun 30, 2020
StatisticValue
Average Effective Duration5.16 years
Average Effective Maturity7.99 years
Portfolio Statistics As of Sep 30, 2020
Statistic3-Year5-Year
Beta0.991.00
Alpha-0.30-0.36
Standard Deviation3.343.16
 
 

Footnotes

1.

Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, or log in at www.icmarc.org.

The source for this information is Morningstar, Inc. Copyright © 2020 Morningstar, Inc.™ All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.