Investment Objective
Current income.
Investment Approach
- Targeted to investors seeking current income
- Dollar-weighted average maturity of ten years or more
- Diversified across industries and companies
The Bond Income Fund invests at least 80% of its net assets in bonds, including corporate and government bonds. The Fund invests primarily in US bonds. Under normal circumstances, the Fund maintains a dollarweighted average maturity of six years or more. The Fund invests at least 80% of its net assets in bonds rated within the four highest grades assigned by a national bond rating agency (e.g., Standard & Poor’s: AAA, AA, A, or BBB) at the time of purchase, inclusive of cash, and may invest up to 20% in unrated and high-yield bonds (“junk bonds”). Investment-grade investments may include “split rated” securities, which are securities that are rated as investment grade by at least one credit rating agency but rated below investment grade by another agency.
|
Ticker | 3 Month | 6 Month | YTD |
|---|---|---|---|---|
| Saturna Bond Income | SBIFX | 2.75% | -1.18% | 2.75% |
| FTSE US BIG Bond Index | SBBIG | 2.78% | -0.38% | 2.78% |
| Bloomberg US Aggregate Index Index | LBUSTRUU | 2.78% | -0.37% | 2.78% |
|
The FTSE US BIG Bond Index is a broad-based index of medium and long-term investment grade bond prices that reflects no deductions for fees, expenses, or taxes. Investors cannot invest directly in the index. The Bloomberg US Aggregate Bond Index is a broad-based, flagship benchmark that measures the investment-grade, US dollar-denominated, fixed-rate taxable bond market. | ||||
|
Ticker | 1 Year | 3 Year | 5 Year | 10 Year | Expense Ratio2 | 30-Day Yield1 |
|---|---|---|---|---|---|---|---|
| Saturna Bond Income | SBIFX | 3.82% | -0.92% | -1.18% | 1.00% | 0.85% | 3.52% |
| FTSE US BIG Bond Index | SBBIG | 4.97% | 0.48% | -0.41% | 1.47% | n/a | n/a |
| Bloomberg US Aggregate Index Index | LBUSTRUU | 4.88% | 0.52% | -0.40% | 1.46% | n/a | n/a |
|
Performance data quoted represents past performance which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. Standardized returns current to the most recent month-end can be obtained by visiting our Month-end Returns Page or by calling toll free 1-800-728-8762. The Fund cannot guarantee that its investment objective will be met. Securities of the Fund are offered and sold only through the prospectus or summary prospectus. ¹ A Fund's 30-Day Yield, sometimes referred to as "standardized yield" or "SEC yield,” is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). The 30-Day Yield provides an estimate of a Fund's investment income rate, but may not equal the actual income distribution rate. ² Expense ratios shown are as stated in the Fund's most recent prospectus or summary prospectus dated March 31, 2025. | |||||||
|
Ticker | 1 Year | 3 Year | 5 Year | 10 Year | Expense Ratio2 | 30-Day Yield1 |
|---|---|---|---|---|---|---|---|
| Saturna Bond Income | SBIFX | 3.82% | -0.92% | -1.18% | 1.00% | 0.85% | 3.52% |
| FTSE US BIG Bond Index | SBBIG | 4.97% | 0.48% | -0.41% | 1.47% | n/a | n/a |
| Bloomberg US Aggregate Index Index | LBUSTRUU | 4.88% | 0.52% | -0.40% | 1.46% | n/a | n/a |
|
Performance data quoted represents past performance which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. Standardized returns current to the most recent month-end can be obtained by visiting our Month-end Returns Page or by calling toll free 1-800-728-8762. The Fund cannot guarantee that its investment objective will be met. Securities of the Fund are offered and sold only through the prospectus or summary prospectus. ¹ A Fund's 30-Day Yield, sometimes referred to as "standardized yield" or "SEC yield,” is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). The 30-Day Yield provides an estimate of a Fund's investment income rate, but may not equal the actual income distribution rate. ² Expense ratios shown are as stated in the Fund's most recent prospectus or summary prospectus dated March 31, 2025. | |||||||
Growth of $10,000
This chart illustrates the performance of a hypothetical $10,000 invested at the beginning of the period and redeemed at the end of the period, and assumes reinvestment of all dividends and capital gains.
Holdings
as of 03/31/2025
Top Ten Holdings
| Holding | % of Net Assets |
|---|---|
| Cash & Equivalents | 7.1% |
| United States Treasury Bond | 6.4% |
| United States Treasury Bond | 3.8% |
| United States Treasury Bond | 3.6% |
| Apple | 2.9% |
| Holding | % of Net Assets |
|---|---|
| Microsoft | 2.9% |
| Intel | 2.8% |
| Home Depot Inc | 2.7% |
| Massachusetts Hsg Fin Agency | 2.6% |
| Maryland Cmnty Dev Admin Hsg | 2.6% |
*Current portfolio holdings may not be indicative of future portfolio holdings.
1 Percentage of total investments includes all stocks, plus cash minus all short positions.
2 Total represents the difference between the long exposure and the short exposure, which produces the net exposure.
| Holding | Market Value | Quantity |
|---|---|---|
| Cash & Equivalents | $844,755 | 0 |
| United States Treasury Bond | $755,773 | 770,000 |
| United States Treasury Bond | $452,375 | 560,000 |
| United States Treasury Bond | $427,469 | 400,000 |
| Apple | $347,070 | 350,000 |
| Microsoft | $341,193 | 350,000 |
| Intel | $329,422 | 360,000 |
| Home Depot Inc | $319,756 | 300,000 |
| Massachusetts Hsg Fin Agency | $306,368 | 300,000 |
| Maryland Cmnty Dev Admin Hsg | $304,240 | 300,000 |
| Minnesota Housing Finance Agency | $301,318 | 300,000 |
| Burlington Northern Santa Fe | $295,340 | 310,000 |
| US Treasury N/B | $288,859 | 400,000 |
| Praxair (Linde AG) | $277,131 | 350,000 |
| United Technologies | $264,052 | 250,000 |
| Lowe's | $259,245 | 250,000 |
| Becton Dickinson | $254,469 | 240,000 |
| Puget Sound Energy (Macquarie) | $253,464 | 300,000 |
| Connecticut St Hsg Fin Auth | $252,494 | 250,000 |
| Medtronic (USA Registered 144a) | $249,286 | 260,000 |
| Affiliated Managers Group | $248,975 | 250,000 |
| Federal Home Loan Bank | $246,416 | 250,000 |
| Statoil (Norsk Hydro Yankee) | $243,924 | 224,000 |
| Virginia St Hsg Dev Auth | $242,475 | 240,000 |
| Holding | Market Value | Quantity |
|---|---|---|
| Merck & Co. (Schering) | $240,015 | 215,000 |
| Canadian Natural Resources | $237,957 | 225,000 |
| Bank Of New York Mellon | $236,583 | 250,000 |
| FN MA5538 | $235,949 | 250,000 |
| Johnson & Johnson | $232,289 | 226,000 |
| Koninklijke KPN | $231,386 | 200,000 |
| Unilever Capital | $215,645 | 200,000 |
| Bellsouth LLC | $215,127 | 200,000 |
| Procter & Gamble 2034 | $212,458 | 200,000 |
| UBS | $207,850 | 200,000 |
| New York NY | $206,710 | 200,000 |
| Connecticut St Hsg Fin Auth Mtge | $201,351 | 200,000 |
| Alabama Power | $165,068 | 200,000 |
| State Street Corp | $135,758 | 150,000 |
| United States Treasury Bond | $120,746 | 145,000 |
| Deere & Co. | $110,235 | 95,000 |
| Baker Hughes | $107,169 | 100,000 |
| Florida Power & Light | $106,173 | 100,000 |
| Kimberly Clark | $99,685 | 100,000 |
| Chubb Ina Holdings | $85,541 | 100,000 |
| United States Treasury Bond | $82,767 | 75,000 |
| Johnson & Johnson | $54,325 | 50,000 |
| Microsoft | $54,127 | 50,000 |
Sector Allocation
| Sector | % of Net Assets |
|---|---|
| Government | 19.6% |
| Municipal Bonds | 11.4% |
| Financials | 9.8% |
| Technology | 9% |
| Health Care | 8.7% |
| Other | 7.1% |
| Industrials | 5.6% |
| Sector | % of Net Assets |
|---|---|
| Energy | 4.9% |
| Consumer Discretionary | 4.9% |
| Consumer Staples | 4.4% |
| Utilities | 4.4% |
| US Government Agency | 4.1% |
| Communications | 3.8% |
| Materials | 2.3% |
*Current portfolio holdings may not be indicative of future portfolio holdings.
1 Percentage of total investments includes all stocks, plus cash minus all short positions.
2 Total represents the difference between the long exposure and the short exposure, which produces the net exposure.
Security and sector weightings are shown as a percentage of total net assets.
Distributions
| Record Date | Ex, Pay and Reinvest Date | Ordinary Income | Qualified Income | Short-Term Capital Gains | Long-Term Capital Gains | Total Distributions (per share) |
|---|---|---|---|---|---|---|
| 03/28/2025 | 03/31/2025 | $0.01318494498 | $0 | $0 | $0 | $0.01318494498 |
| 02/27/2025 | 02/28/2025 | $0.01192859092 | $0 | $0 | $0 | $0.01192859092 |
| 01/30/2025 | 01/31/2025 | $0.01319887321 | $0 | $0 | $0 | $0.01319887321 |
| 12/30/2024 | 12/31/2024 | $0.01294134462 | $0 | $0 | $0 | $0.01294134462 |
| 11/27/2024 | 11/29/2024 | $0.01223816482 | $0 | $0 | $0 | $0.01223816482 |
| 10/30/2024 | 10/31/2024 | $0.01249344243 | $0 | $0 | $0 | $0.01249344243 |
| 09/27/2024 | 09/30/2024 | $0.01189952012 | $0 | $0 | $0 | $0.01189952012 |
| 08/29/2024 | 08/30/2024 | $0.0122500164 | $0 | $0 | $0 | $0.0122500164 |
| 07/30/2024 | 07/31/2024 | $0.01175163902 | $0 | $0 | $0 | $0.01175163902 |
| 06/27/2024 | 06/28/2024 | $0.01077886863 | $0 | $0 | $0 | $0.01077886863 |
| 05/30/2024 | 05/31/2024 | $0.01134992578 | $0 | $0 | $0 | $0.01134992578 |
| 04/29/2024 | 04/30/2024 | $0.01027070313 | $0 | $0 | $0 | $0.01027070313 |
| 03/27/2024 | 03/28/2024 | $0.01077062964 | $0 | $0 | $0 | $0.01077062964 |
| 02/28/2024 | 02/29/2024 | $0.01035884554 | $0 | $0 | $0 | $0.01035884554 |
| 01/30/2024 | 01/31/2024 | $0.01075717984 | $0 | $0 | $0 | $0.01075717984 |
| 12/28/2023 | 12/29/2023 | $0.0098899185 | $0 | $0 | $0 | $0.0098899185 |
| 11/29/2023 | 11/30/2023 | $0.00992030258 | $0 | $0 | $0 | $0.00992030258 |
| 10/30/2023 | 10/31/2023 | $0.01127866519 | $0 | $0 | $0 | $0.01127866519 |
| 09/28/2023 | 09/29/2023 | $0.01082841671 | $0 | $0 | $0 | $0.01082841671 |
| 08/30/2023 | 08/31/2023 | $0.01091001812 | $0 | $0 | $0 | $0.01091001812 |
| 07/28/2023 | 07/31/2023 | $0.01074122914 | $0 | $0 | $0 | $0.01074122914 |
| 06/29/2023 | 06/30/2023 | $0.01028802409 | $0 | $0 | $0 | $0.01028802409 |
| 05/30/2023 | 05/31/2023 | $0.01074628403 | $0 | $0 | $0 | $0.01074628403 |
The Saturna Bond Income Fund intends to distribute its net investment income and net realized capital gains, if any, to its shareowners. The Fund pays income dividends daily, which are reinvested or distributed monthly. As a result of its investment strategy, the Fund expects that its dividends will consist primarily of ordinary income.
Distributions for the last two years are listed in the table above. For prior distributions, please contact a Saturna representative.
Regulations regarding distributions can be complex, and there are several methods for managing your tax liability. Please consult a tax advisor about your particular circumstances. You also may obtain helpful information by calling the Internal Revenue Service at 1-800-829-1040 or visiting www.irs.gov.
If applicable, distribution information will appear on Form 1099-DIV, typically sent in late January. For more information on tax documentation, please visit our Tax Documentation page.
The Fund pays per-share distributions to shareowners invested on the Record Date. On the Payable Date, the fund's share price is reduced by the amount of its distribution.
The following tables describe the fees and expenses mutual fund shareowners may pay. There are no shareowner fees (fees paid directly from an investment). The Fund imposes no sales charge (load) on purchases or reinvested dividends, or any deferred sales charge (load) upon redemption. There are no exchange fees or account fees. Investments in mutual funds are subject to ongoing expenses. Saturna endeavors to keep these fees low. We encourage you to compare the following fees with similar fees of other no-load mutual funds:
Shareowner Fees
(fees paid directly from your investment)
| None |
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
| Management Fees | 0.50% |
| Other Expenses | 0.35% |
| Total Annual Fund Operating Expenses | 0.85% |
| Fee Waiver and Expense Reimbursement1 | -0.20% |
| Total Annual Fund Operating Expenses after Fee Waiver and Expense Reimbursement | 0.65% |
1 The Adviser has committed through March 31, 2026, to waive fees and/ or reimburse expenses to the extent necessary to ensure that the Fund’s net operating expenses, excluding brokerage commissions, interest, taxes, and extraordinary expenses, do not exceed the net operating expense ratio of 0.65%. This expense limitation agreement may be changed or terminated only with approval of the Board of Trustees.
When you buy shares through a financial intermediary, that intermediary may charge a transaction fee or commission which is not reflected in the expenses table. Purchases and redemptions of Fund shares will be made at the daily net asset value established by the Fund (before imposition of a commission).
Investment Minimum
| The minimum initial investment is $1,000 (for tax-sheltered accounts, there is no minimum). |