Fund Evaluator:
Cavanal Hill Bond Institutional (AIBNX)
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Fund Details
Cavanal Hill Bond Institutional Overview
Cavanal Hill Bond Institutional (AIBNX) is an actively managed Taxable Bond Intermediate Core Bond fund. Cavanal Hill funds launched the fund in 2005.
The investment seeks total return. The fund invests at least 80% of its net assets in bonds. It invests primarily in debt obligations such as bonds, notes and debentures, and bills issued by U.S. corporations or by the U.S. government, its agencies, or instrumentalities, municipal securities, mortgage-backed securities, asset-backed securities, collateralized mortgage obligations and fixed income ETFs. The fund also invests in money market instruments.
About Cavanal Hill Bond Institutional (AIBNX)
There are 2 members of the management team with an average tenure of 11.60 years: Chase McLean (2025), Michael Maurer (2003). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Cavanal Hill Bond Institutional has 163 securities in its portfolio. The top 10 holdings constitute 30.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Cavanal Hill Bond Institutional is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Cavanal Hill Bond Institutional has 2.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.5% (95.1% domestic bond, 2.3% foreign bond and 0.0% convertible bond). Cavanal Hill Bond Institutional has 2.5% of the portfolio in cash.
Assets Under Management
The fund has $108 million in total assets, which is below the $3 billion average for the Intermediate Core Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
AIBNX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Cavanal Hill Bond Institutional expense ratio is average compared to funds in the Intermediate Core Bond category. Cavanal Hill Bond Institutional has an expense ratio of 0.49%, which is 14% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Cavanal Hill Bond Institutional has a portfolio turnover rate of 24%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 151% for the Intermediate Core Bond category.
Recently, in the month of July 2026, Cavanal Hill Bond Institutional returned -1.5%, which earned it a grade of F, as the Intermediate Core Bond category had an average return of -1.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Cavanal Hill Bond Institutional has a trailing yield of 4.11%, which is above the 4.04% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Cavanal Hill Bond Institutional Grades
Year to date, the fund has returned -0.6%, 0.2 percentage points better than the category, which translates into a grade of B. The fund has returned 2.5% over the past year (grade of C), 3.9% over the past three years (grade of B) and -0.3% per year over the past five years (grade of B) and 1.1% per year over the past 10 years (grade of D).
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AIBNX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AIBNX Return (NAV) | -1.5% | -0.9% | 2.5% | 3.9% | -0.3% | 1.1% |
| AIBNX Grade | F | D | C | B | B | D |
| +/- Category | -0.2% | -0.0% | -0.0% | 0.2% | 0.1% | -0.2% |
| Intermediate Core Bond Avg | -1.3% | -0.8% | 2.5% | 3.7% | -0.5% | 1.4% |
| AIBNX Tax Cost Ratio | na | na | 1.6% | 1.5% | 1.4% | 1.1% |
AIBNX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AIBNX Return (NAV) | -0.6% | 6.6% | 2.1% | 6.0% | -13.3% | -1.3% | 6.9% | 7.5% | 0.4% | 2.6% | 1.1% |
| AIBNX Grade | B | F | A | B | C | B | F | F | A | F | F |
| +/- Category | 0.2% | -0.4% | 0.6% | 0.4% | -0.1% | 0.1% | -1.1% | -1.0% | 0.8% | -1.0% | -1.6% |
| Intermediate Core Bond Avg | -0.7% | 7.0% | 1.6% | 5.6% | -13.2% | -1.5% | 8.1% | 8.5% | -0.4% | 3.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 5.2% |
| Total Risk Index: | 0.43 - Low |
| Category Risk Index: | 0.94 - Low |
| Category Risk Grade: | A (11% Rank) |
| Beta: | 0.92 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 4.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $109 Mil |
| Fund Total Assets: | $ 108 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 24% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 22.6 years | |||
| Average Tenure: 11.6 years | |||
| Managers (Year): Maurer Michael (2003), McLean Chase (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 163 |
| % in Top 10 Holdings: | 30.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 95.1% |
| Foreign Bond: | 2.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.5% |
Purchase Information
| Fund Family: | Cavanal Hill funds |
| Phone Number: | 800-762-7085 |
| Website: | www.cavanalhillfunds.com |
| Status: | Open |
| Inception Date: | December 29, 2005 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.49% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | Cavanal Hill Bond Investor |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
