Fund Evaluator:
BBH Income I (BBNIX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 4.1% | Diamond Hill Core Plus Bond Y (DHNYX) |
| 3.9% | Diamond Hill Core Plus Bond I (DHNIX) |
| 3.7% | Diamond Hill Core Plus Bond Investor (DHNAX) |
| 3.5% | Weitz Core Plus Income Investor (WCPNX) |
| 3.4% | Nuveen Core Plus Bond I (TCBHX) |
Fund Details
BBH Income I Overview
BBH Income I (BBNIX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. BBH launched the fund in 2018.
The investment seeks to provide maximum total return, with an emphasis on current income, consistent with preservation of capital and prudent investment management. The fund seeks to achieve its investment objective by investing in a well-diversified portfolio of fixed income instruments, including floating or variable rate debt instruments. The adviser intends to invest only in debt instruments which are performing, durable, and available at an attractive valuation.
About BBH Income I (BBNIX)
There are 3 members of the management team with an average tenure of 7.60 years: Andrew Hofer (2018), Neil Hohmann (2018), Paul Kunz (2019). 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%. BBH Income I has 392 securities in its portfolio. The top 10 holdings constitute 29.3% 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.
BBH Income I is part of the Fixed Income global asset class and is within the Taxable Bond fund group. BBH Income I has 6.9% 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 2.7% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.5% (89.6% domestic bond, 6.9% foreign bond and 0.0% convertible bond). BBH Income I has 0.8% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is above the $1 billion average for the Intermediate Core-Plus 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.
BBNIX 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 BBH Income I expense ratio is average compared to funds in the Intermediate Core-Plus Bond category. BBH Income I has an expense ratio of 0.44%, which is 44% lower than its category average, making the fund expense ratio grade a A. 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. BBH Income I has a portfolio turnover rate of 42%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, BBH Income I returned -1.2%, which earned it a grade of A, as the Intermediate Core-Plus 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.
BBH Income I has a trailing yield of 5.28%, which is above the 4.36% category average. The fund normally distributes its income monthly.
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.
BBH Income I Grades
Year to date, the fund has returned -0.2%, 0.4 percentage points better than the category, which translates into a grade of A. The fund has returned 3.0% over the past year (grade of B), 5.4% over the past three years (grade of A) and 1.0% per year over the past five years (grade of A).
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BBNIX 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 |
|
| BBNIX Return (NAV) | -1.2% | -0.6% | 3.0% | 5.4% | 1.0% | na |
| BBNIX Grade | A | B | B | A | A | na |
| +/- Category | 0.1% | 0.1% | 0.3% | 1.2% | 1.1% | na |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| BBNIX Tax Cost Ratio | na | na | 2.1% | 2.2% | 2.0% | na |
BBNIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BBNIX Return (NAV) | -0.2% | 7.8% | 3.8% | 9.1% | -13.7% | 1.6% | 11.6% | 9.3% | na | na | na |
| BBNIX Grade | A | B | A | A | C | A | A | C | na | na | na |
| +/- Category | 0.4% | 0.5% | 1.5% | 2.9% | -0.3% | 2.2% | 2.9% | 0.1% | na | na | na |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 5.4% |
| Total Risk Index: | 0.44 - Low |
| Category Risk Index: | 0.96 - Low |
| Category Risk Grade: | A (19% Rank) |
| Beta: | 0.95 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 5.3% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $2313 Mil |
| Fund Total Assets: | $2,314 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 42% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 8.1 years | |||
| Average Tenure: 7.6 years | |||
| Managers (Year): Hofer Andrew (2018), Hohmann Neil (2018), Kunz Paul (2019) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 392 |
| % in Top 10 Holdings: | 29.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 2.7% |
| Domestic Bond: | 89.6% |
| Foreign Bond: | 6.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.8% |
Purchase Information
| Fund Family: | BBH |
| Phone Number: | 800-575-1265 |
| Website: | www.bbhfunds.com |
| Status: | Open |
| Inception Date: | June 27, 2018 |
| Min. Initial Purchase: | $25,000 |
| 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 (%): | 0.44% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | BBH Income I |
| Min. Subsequent Purchase: | $5,000 |
| Min. Subsequent IRA Purchase: | $ 0 |
