Cavanal Hill Funds Long Live Your Money CONTACT ADVISOR LOGIN CAVANALHILL.COM ABOUT MUTUAL FUNDS INSIGHTS & COMMENTARY LITERATURE FINANCIAL ADVISORS Moderate Duration Fund Fixed Income Home > Mutual Funds > Fixed Income > Moderate Duration Fund OVERVIEW PERFORMANCE PORTFOLIO FUND GOAL We pursue a strategy of broad diversification in order to benefit from investments in both corporate and government fixed-income securities as well as mortgage backed securities (MBS) and asset-backed securities (ABS), with the fund maintaining a dollar-weighted average duration of no longer than 5 years. PROCESS Our Fixed Income management process is fundamentally driven, disciplined and value oriented. We construct portfolios using duration management, yield curve positioning, sector allocation, and security selection, and use these strategies as a blueprint to strive to earn results for you. How We Strive To Make Fixed Income Funds Work For You: Discover We seek opportunities to generate returns for our investors. Assess We test our discoveries for relative value and associated risk. If it’s not worth it, we go back to the drawing board. Invest We invest in assets that have value within the current market and buy when we believe the price is right. Monitor We monitor our investments closely. We ensure our reasoning remains valid and, if it isn’t, we return to the discovery phase. MARKET CONCERNS Fixed income securities are subject to interest rate risks. The principal value of a bond falls when interest rates rise and rise when interest rates fall. During periods of rising interest rates, the value of a bond investment is at greater risk than during periods of stable or falling rates. Intermediate-term investment-grade bonds offer less risk and generally a lower rate of return than longer-term higher yielding bonds. Bond funds will tend to experience smaller fluctuations in value than stock funds. However, investors in any bond fund should anticipate fluctuations in price, especially for longer-term issues and in environments of changing interest rates. MORNINGSTAR RATINGS Overall Morningstar Rating out of 550 short-term bond funds (for the overall period ending 9/30/2021, Institutional Shares) Rating Overall Morningstar Rating 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. Cavanal Hill Moderate Duration Bond Fund was rated against the following numbers of short-term bond funds over the following time periods: 550 funds in the last three years, 485 funds in the last five years, and 318 funds in the last ten years. SHOW MORE MORNINGSTAR RANKINGS Category: US OE fund Short-Term Bond (as of 9/30/2021) Rank Percentile 1 Year 349/603 58 3 Year 161/550 34 5 Year 212/485 50 10 Year 14/318 6 Rankings are for Institutional Class and are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. For periods not shown, Morningstar does not provide rankings based on synthetic performance. SHOW MORE LIPPER LEADERS DESIGNATION 5 Preservation Lipper Leader Preservation (A, Investor and Institutional Shares) 5 Expense Lipper Leader Expense (Investor Shares) LIPPER RANKINGS Category: Lipper Short-Intermediate Investment-Grade Debt Funds (As o 9/30/2021) Rank Percentile 1 Year 65/172 38 3 Year 88/164 54 5 Year 71/144 49 10 Year 8/89 9 The Lipper ratings for Preservation reflect the funds' historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative measures, rather than absolute measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Lipper ratings for Expense identify a fund that has successfully managed to keep its expenses low relative to its peers and within its load structure. Lipper ratings are subject to change every month and are based on an equal weighted average of percentile ranks for Preservation and Expense metrics over three-, five-, and ten- year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leaders with a rating of 5, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1. SHOW MORE FUND INFORMATION as of 10/31/21 Class A Institutional Investor Net Asset Value $10.65 $10.65 $10.65 Symbol AAIBX AIFBX APFBX CUSIP 14956P653 14956P745 14956P752 Inception 05/02/11 12/29/05 09/28/90 Gross Expense Ratio 1.15% 1.05% 1.30% Net Expense Ratio 0.75% 0.50% 0.75% FUND STATISTICS as of 9/30/21 Total Net Assets $26,181,795 Number of Holdings 169 Turnover Ratio 57.7% 5-Year Standard Deviation 2.12 Weighted Average Maturity (bonds) 4.12 yrs. Effective Duration (bonds) 3.80 yrs. Currently, contractual fee waivers are in effect from December 28, 2020 through December 31, 2021. While the fund seeks to manage and monitor risk, there is no way to remove risk. SHOW MORE RELATED LITERATURE Fact Sheet Summary Prospectus Prospectus Statement of Additional Information Semi-Annual Report Annual Report Fact Sheet VIEW ALL LITERATURE MANAGEMENT TEAM Michael P. Maurer MBA, CFA® | SENIOR VICE PRESIDENT, SENIOR FIXED INCOME PORTFOLIO MANAGER Russell Knox CFA® | VICE PRESIDENT, FIXED INCOME PORTFOLIO MANAGER DON'T HAVE AN ACCOUNT? Sign up today for access to exclusive commentaries, sales tools, pitchbooks, and more. GET ADVISOR-ONLY INFORMATION This product may also be available in Strategies format. Click below to learn more. VIEW OUR STRATEGIES Cavanal Hill Funds ABOUT MUTUAL FUNDS INSIGHTS & COMMENTARY LITERATURE FINANCIAL ADVISORS SUBSCRIBE Sign up for our newsletter to stay updated on our latest news and events. Email Address* SUBMIT CONTACT Cavanal Hill Distributors, Inc. Attn: Bill King, Director of Sales One Williams Center Cavanal Hill Distributors, Inc. - 15th Floor Tulsa, OK 74172-0172 Email: CHInfo@cavanalhill.com Craig McQueen, Internal Sales Specialist 855-359-1898 Bill King, Director of Sales 918-382-5491 CAVANALHILL.COM PRIVACY POLICY LEGAL GLOSSARY ©2021 Distributor: Cavanal Hill Distributors, Inc. Cavanal Hill Investment Management, Inc. is an SEC registered investment adviser and a wholly-owned subsidiary of BOKF, NA, a wholly-owned subsidiary of BOK Financial Corporation, a financial holding company (“BOKF”). BOKF, NA serves as the custodian for the Cavanal Hill Funds. BOKF holdings also include Cavanal Hill Distributors, Inc., member FINRA, the distributor for the Cavanal Hill Funds (the Funds). SHOW MORE