Fund Evaluator:
Meeder Tactical Income Institutional (BNDIX)
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Fund Details
Meeder Tactical Income Institutional Overview
Meeder Tactical Income Institutional (BNDIX) is an actively managed Taxable Bond Nontraditional Bond fund. Meeder Funds launched the fund in 2016.
The investment seeks to provide long-term total return and income. The fund normally invests at least 80% of its net assets in fixed income securities, principally mutual and exchange traded funds that invest in domestic and foreign fixed income securities. It may invest in fixed income securities of any credit quality, including below-investment grade securities (“high-yield” or “junk bonds”), including distressed debt.
About Meeder Tactical Income Institutional (BNDIX)
There are 3 members of the management team with an average tenure of 8.76 years: Bob Meeder (2011), Joseph Bell (2018), Aneep Maniar (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Govt/Credit 1-5 Yr TR USD index with a weighting of 100%. Meeder Tactical Income Institutional has 9 securities in its portfolio. The top 10 holdings constitute 84.6% 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.
Meeder Tactical Income Institutional is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Meeder Tactical Income Institutional has 14.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 3.5%. There is 0.3% allocated to foreign stock, and 1.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 70.6% (56.4% domestic bond, 14.2% foreign bond and 0.2% convertible bond). Meeder Tactical Income Institutional has 24.2% of the portfolio in cash.
Assets Under Management
The fund has $122 million in total assets, which is below the $663 million average for the Nontraditional 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.
BNDIX 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 Meeder Tactical Income Institutional expense ratio is high compared to funds in the Nontraditional Bond category. Meeder Tactical Income Institutional has an expense ratio of 1.24%, which is 12% 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. Meeder Tactical Income Institutional has a portfolio turnover rate of 223%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 304% for the Nontraditional Bond category.
Recently, in the month of July 2026, Meeder Tactical Income Institutional returned -0.8%, which earned it a grade of F, as the Nontraditional Bond category had an average return of -0.2%. 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.
Meeder Tactical Income Institutional has a trailing yield of 4.70%, which is below the 4.94% 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.
Meeder Tactical Income Institutional Grades
Year to date, the fund has returned 1.6%, 0.4 percentage points better than the category, which translates into a grade of B. The fund has returned 5.5% over the past year (grade of A), 6.9% over the past three years (grade of B) and 3.2% per year over the past five years (grade of B) and 3.3% per year over the past 10 years (grade of C).
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BNDIX 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 |
|
| BNDIX Return (NAV) | -0.8% | 0.1% | 5.5% | 6.9% | 3.2% | 3.3% |
| BNDIX Grade | F | D | A | B | B | C |
| +/- Category | -0.6% | -0.3% | 1.2% | 1.3% | 0.7% | 0.1% |
| Nontraditional Bond Avg | -0.2% | 0.4% | 4.4% | 5.6% | 2.5% | 3.1% |
| BNDIX Tax Cost Ratio | na | na | 1.9% | 1.9% | 1.5% | na |
BNDIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BNDIX Return (NAV) | 1.6% | 7.6% | 6.8% | 7.4% | -5.7% | -1.6% | 7.9% | 7.7% | -1.2% | 4.2% | 4.6% |
| BNDIX Grade | B | B | B | C | C | F | B | B | C | C | D |
| +/- Category | 0.4% | 0.8% | 1.3% | 0.9% | 0.4% | -2.9% | 2.4% | 1.1% | -0.4% | 0.1% | -1.9% |
| Nontraditional Bond Avg | 1.2% | 6.8% | 5.4% | 6.5% | -6.1% | 1.3% | 5.4% | 6.5% | -0.8% | 4.1% | 6.4% |
| Risk Measures | |
| Standard Deviation: | 3.2% |
| Total Risk Index: | 0.26 - Low |
| Category Risk Index: | 0.90 - Average |
| Category Risk Grade: | C (55% Rank) |
| Beta: | 0.50 |
| R-Squared: | 78% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.7% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $158 Mil |
| Fund Total Assets: | $ 123 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 223% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 15.1 years | |||
| Average Tenure: 8.8 years | |||
| Managers (Year): Meeder Bob (2011), Bell Joseph (2018), Maniar Aneep (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 9 |
| % in Top 10 Holdings: | 84.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 14.5% |
Portfolio Allocation |
|
| Domestic Stock: | 3.5% |
| Foreign Stock: | 0.3% |
| Preferred Stock: | 1.2% |
| Domestic Bond: | 56.4% |
| Foreign Bond: | 14.2% |
| Convertible Bond: | 0.2% |
| Other: | 0.1% |
| Cash: | 24.2% |
Purchase Information
| Fund Family: | Meeder Funds |
| Phone Number: | 800-325-3539 |
| Website: | www.meederfunds.com |
| Status: | Open |
| Inception Date: | October 31, 2016 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $1,000,000 |
| 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 (%): | 1.24% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.42% |
| Share Class: | Meeder Tactical Income Retail |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
