The CCM Community Impact Bond Fund* Retail Shares (f/k/a the CRA Qualified Investment Fund) is an investment grade, intermediate duration bond fund that seeks to preserve capital, deliver attractive risk-adjusted returns, and serve as the ballast in a portfolio.
The Fund invests in well-researched, fossil fuel free bonds that have direct and measurable positive environmental and societal impacts, with most bonds qualifying under the Community Reinvestment Act (CRA) of 1977. The Fund offers impact customization where shareholders meeting minimum requirements can direct their capital to support specific geographies or impact themes, a benefit accompanied by impact reporting.
| Asset Class | Fixed Income |
| Ticker | CRATX |
| Inception | 3/2/07 |
| Dividends | Monthly |
| Benchmark | Bloomberg Barclays Intermediate U.S. Aggregate Index |
| Expense Ratio | 0.81% |
| Morningstar Category | Intermediate Government Bonds |
| Overall Morningstar RatingTM (as of 08/31/2021) |
★★★ (based on risk-adjusted return among 221 Intermediate Govt. Bond Funds) |
| Month-End Data as of 08/31/2021 | |
|---|---|
| NAV | $10.69 |
| Distribution | 0.011345 |
| 30-Day SEC Yield | 0.92 |
| Total Fund Assets | $3.2 billion |
| Impact and ESG Highlights | |
|---|---|
| Impact Targeting | No |
| Impact Reporting | Yes |
| Fossil Fuel Free | Yes |
| YTD | 1-YR | 5-YR | 10-YR | Since Inception | ||
| CRATX | -0.41 | -0.23 | 1.80 | 2.03 | 3.03 | |
| Morningstar Category | -0.82 | -0.76 | 2.00 | 2.05 | N/A | |
| Bloomberg Barclays Intermediate U.S. Aggregate Index | -0.29 | 0.10 | 2.61 | 2.57 | 3.69 |
| 2Q21 | YTD | 1-YR | 5-YR | 10-YR | Since Inception | |
| CRATX | 0.60 | -0.79 | -0.33 | 1.73 | 2.28 | 3.03 |
| Morningstar Category | 0.67 | -1.42 | -1.19 | 1.85 | 2.30 | N/A |
| Bloomberg Barclays Intermediate U.S. Aggregate Index | 0.78 | -0.84 | 0.05 | 2.53 | 2.74 | 3.69 |
3-month and YTD returns are not annualized. Performance quoted is past performance and does not guarantee future results. Current performance may be lower or higher than the performance data quoted. An investor’s investment return and principal value will fluctuate, so that your shares when redeemed may be worth more or less than your initial cost.
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LEARN MORE*Effective March 1, 2021 the Fund’s name changed from CRA Qualified Investment Fund to CCM Community Impact Bond Fund.
Mutual fund investing involves risk including the loss of principal. Bond and bond funds are subject to interest rate risk and will decline in value as interest rates rise. The Fund is non-diversified.
The Bloomberg Barclays Intermediate U.S. Aggregate Index is the Intermediate component of the U.S. Aggregate Index. Securities must have a maturity from 1 up to (but not including) 10 years for all sectors except for Securitized (MBS, ABS, CMBS), which does not have a maximum weighted average maturity (MBS) or remaining average life (ABS, CMBS) constraint. You cannot invest directly in an index.
Carefully consider the risks, investment objectives, charges and expenses of the Fund before investing. The prospectus contains this and other important information. The prospectus is available via the link above. Please read the prospectus carefully before investing. The CCM Community Impact Bond Fund is distributed by SEI Investments Distribution Co. (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456, which is not affiliated with Community Capital Management or any other affiliate.
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The Morningstar RatingTM 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 Morningstar Rating does not include any adjustment for sales loads. 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. As of 08/31/2021, the CCM Community Impact Bond Fund was rated against the following number of U.S.-domiciled Intermediate Government funds over the following time periods: 221 funds in the last three years, 202 funds in the last five years, and 175 funds in the last ten years. With respect to these Intermediate Government funds, the CCM Community Impact Bond Fund Retail Share Class received a Morningstar Rating of two stars, two stars, and three stars for the three-, five-, and ten-year periods, respectively.
