Fund Facts  

Inception Date: Apr 1, 2011
CUSIP: 066923400
Ticker Symbol: BMOAX
Morningstar Category:Intermediate Core Bond
As of Dec 31, 2021
Fund Net Assets ($millions) $2,593

Documents for Fund or Underlying Fund(s)  



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 Dec 31, 2021
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
iShares US Aggregate Bond Idxa-0.21%-2.09%-2.09%4.43%3.16%2.46%2.93%
Bloomberg U.S. Agg Bond Indexa,b0.01%-1.54%-1.54%4.79%3.57%2.90%N/A
Morningstar Intermediate Core Bonda,c-0.24%-1.48%-1.48%4.81%3.47%2.95%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 a MissionSquare Retirement administered account can log in at, or institutions can go to

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., © 2021 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 U.S. Aggregate Bond Index consists of investment-grade U.S. fixed income securities.

c. The Morningstar category average return 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.


Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 9, 2021Dec 9, 2021$0.019034000
Nov 30, 2021Nov 30, 2021$0.014984000
Oct 29, 2021Oct 29, 2021$0.013453000
Sep 30, 2021Sep 30, 2021$0.014042000
Aug 31, 2021Aug 31, 2021$0.014925000
Jul 30, 2021Jul 30, 2021$0.014115000
Jun 30, 2021Jun 30, 2021$0.016527000
May 28, 2021May 28, 2021$0.013495000
Apr 30, 2021Apr 30, 2021$0.015243000
Mar 31, 2021Mar 31, 2021$0.017345000
Feb 26, 2021Feb 26, 2021$0.015158000
Jan 29, 2021Jan 29, 2021$0.013966000
Dec 10, 2020Dec 10, 2020$0.043889000
Nov 30, 2020Nov 30, 2020$0.016158000
Oct 30, 2020Oct 30, 2020$0.016188000
Sep 30, 2020Sep 30, 2020$0.018158000
Aug 31, 2020Aug 31, 2020$0.016797000
Jul 31, 2020Jul 31, 2020$0.018415000

Morningstar Information

Morningstar RatingTM   As of Dec 31, 2021
Period Stars Category Size
Overall 2 Stars386
3-Year 2 Stars386
5-Year 2 Stars348
10-Year 2 Stars253

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 Dec 31, 2021
Fixed Income Stylebox
High Moderate
Allocation of Assets As of Nov 30, 2021
Type of Asset Percent
Fixed Income94%

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



Allocation of Assets As of Nov 30, 2021
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond86.3%
Foreign Bond6.8%

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


Credit Quality As of Jun 30, 2021
Quality LevelPercent
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 Nov 30, 2021
Holding NamePercent
BlackRock Cash Funds Instl SL Agency8.4%
United States Treasury Notes 0.375%1.1%
Government National Mortgage Association 2%1.1%
Federal National Mortgage Association 1.5%0.9%
United States Treasury Notes 2.75%0.8%
Federal National Mortgage Association 1.5%0.8%
United States Treasury Notes 0.625%0.7%
Federal National Mortgage Association 2%0.7%
Federal National Mortgage Association 2.5%0.7%
United States Treasury Notes 2%0.7%
Fixed Income Sector As of Nov 30, 2021
Cash & Equivalents5.9%

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



Duration and Maturity As of Jun 30, 2021
Average Effective Duration5.16 years
Average Effective Maturity8.43 years
Portfolio Statistics As of Dec 31, 2021
Standard Deviation3.403.06



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

The source for this information is Morningstar, Inc. Copyright © 2021 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 MissionSquare Retirement or its affiliates. MissionSquare Retirement 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.