Ultra Short-Term Income Fund – SADAX

 


 

Share Price 09-01-15 $8.46
Daily Change 0.00
YTD Return 0.15%
30-Day SEC Yield as of 08-31-15 0.95%
View the 30-day unsubsidized SEC yields  
Inception Date 11-25-1988
Net Fund Assets 07-31-2015 $1,652,383,306.17

PERFORMANCE

AVERAGE ANNUAL TOTAL RETURNS % as of 06-30-2015

  1-year 3-year 5-year 10-year Inception
NAV -0.09 0.52 0.95 1.77 4.03
POP -2.09 -0.15 0.54 1.56 3.95

Barclays Short-Term U.S. Government/Credit Bond Index

  1-year 3-year 5-year 10-year Inception
  0.23 0.27 0.33 1.90 --

Important disclosure

For Class A shares, the maximum front-end sales charge is 2.00%. Performance including sales charge assumes the sales charge for the corresponding time period.
Public offering price (POP) is the price of one share of a fund including any sales charges. Net asset value (NAV) is the value of one share of the fund excluding any sales charges. Had sales charges been included, performance would be lower. Returns for periods of less than one year are not annualized.



EXPENSES %

Net Expense Ratio effective since 07-01-15 0.71%
Gross Expense Ratio 0.78%

Important disclosure

The advisor has committed, through 12-31-15, to waive fees and/or reimburse expenses to the extent necessary to cap the fund's total annual fund operating expenses after fee waiver, excluding certain expenses, at 0.70%. Without this cap, the fund's returns would have been lower.

MORNINGSTAR RATINGS as of 07-31-2015

Category = Ultrashort Bond
3-Year out of 114 fundsMorningstar Rating
5-Year out of 77 funds Morningstar RatingMorningstar Rating
10-Year out of 60 funds Morningstar RatingMorningstar Rating
Overall out of 114 fundsMorningstar RatingMorningstar Rating

Important disclosure

The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) ratings, based on risk-adjusted returns.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Past performance is no guarantee of future results.

HOLDINGS

TOP HOLDINGS % of net assets as of 07-31-2015

FNMA, 3.50%, 2030-08-18 1.08%
Chait_12-a5, 0.59%, 2017-08-15 0.99%
MERCEDES BENZ AUTO RECEIVABLES MBART 2015 1 A2A, 0.82%, 2018-06-15 0.98%
JP Morgan Chase Commercial Mor Jpmcc 2014 Inn A 144A, 1.10%, 2029-06-15 0.90%
Directv Holdings/fing Company Guar, 2.40%, 2017-03-15 0.88%
Verizon Communications Sr Unsecured, 1.35%, 2017-06-09 0.87%
Nissan Auto Lease Trust Nalt 2014 B A2A, 0.73%, 2017-04-17 0.84%
Prvdnc Hlth + Svc Obl Gr Unsecured Var, 1.08%, 2016-10-01 0.72%
Port Port Arthur Tex Nav Dist Ppatrn Adjustable Var, 0.13%, 2039-12-01 0.72%
Experian Finance PLC, 2.37%, 2017-06-15 0.69%
Portfolio holdings are subject to change and may have changed since the date specified.

FUND STORY

ADVISER  |  Wells Fargo Funds Management, LLC

SUB-ADVISER  |  Wells Capital Management Incorporated ("Wells Capital Management")

PORTFOLIO MANAGERS


Thomas M. Price, CFA

Thomas M. Price, CFA
Years of investment
experience: 25

 

Jay N. Mueller, CFA

Jay N. Mueller, CFA
Years of investment
experience: 32

 

Christopher Y. Kauffman, CFA

Christopher Y. Kauffman, CFA
Years of investment
experience: 18

 

Noah Wise, CFA

Noah Wise, CFA
Years of investment
experience: 14


The Fund

The Wells Fargo Advantage Ultra Short-Term Income Fund seeks current income by investing primarily in a diversified portfolio of fixed-income securities with an average maturity of less than one year.

Competitive Advantages

  • Rigorous fundamental credit research: Research is conducted through a comprehensive team effort in which all members operate as credit analysts for each of the credits that they cover. This empowers the team to act opportunistically in the marketplace.
  • Empowered sector experts: The fund is managed by an interdisciplinary team that combines the expertise of dedicated specialists from various sectors, such as credit, securitized, and government. Each sector leader is empowered to trade the portfolio within the bands of tactical discretion.
  • Disciplined risk management: The team uses proprietary risk management tools designed to balance alpha generation with appropriate levels of risk-adjusted return and comprehensive risk management.

Risks

Bond fund values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond fund values fall and investors may lose principal value. The use of derivatives may reduce returns and/or increase volatility. Certain investment strategies tend to increase the total risk of an investment (relative to the broader market). This Fund is exposed to foreign investment risk, high-yield securities risk, and mortgage- and asset-backed securities risk. Consult the fund's prospectus for additional information on these and other risks.

Figures quoted represent past performance, which is no guarantee of future results. Investment return, principal value, and yields of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown without sales charges would be lower if sales charges were reflected. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains. Current month-end performance is available at the funds' website, wellsfargo.com/advantagefunds.

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