Fund Evaluator:
Boston Trust Asset Management (BTBFX)
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Best Performing in Moderately Aggressive Allocation Over the Last Year
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Fund Details
Boston Trust Asset Management Overview
Boston Trust Asset Management (BTBFX) is an actively managed Allocation Moderately Aggressive Allocation fund. Boston Trust Walden Funds launched the fund in 1995.
The investment seeks long-term capital growth and income through an actively managed portfolio of stocks, bonds and money market instruments. The fund will invest in a diversified portfolio of stocks, bonds and money market instruments, with at least 20% of the fund's assets invested in each of the following categories: (i) domestic and foreign equity securities, such as common stock and (ii) fixed-income securities, such as U.S. government and agency securities, corporate bonds, money market funds, and cash.
About Boston Trust Asset Management (BTBFX)
There are 2 members of the management team with an average tenure of 6.99 years: Amy Crandall Kaser (2019), Jason O’Connell (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Bloomberg US Govt/Credit TR USD index with a weighting of 100%. Boston Trust Asset Management has 112 securities in its portfolio. The top 10 holdings constitute 40.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.
Boston Trust Asset Management is part of the Allocation global asset class and is within the Allocation fund group. Boston Trust Asset Management has 2.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 76.8%. There is 2.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 20.0% (20.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Boston Trust Asset Management has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $531 million in total assets, which is below the $572 million average for the Moderately Aggressive Allocation 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.
BTBFX 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 Boston Trust Asset Management expense ratio is above average compared to funds in the Moderately Aggressive Allocation category. Boston Trust Asset Management has an expense ratio of 0.78%, which is 24% lower than its category average, making the fund expense ratio grade a B. 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. Boston Trust Asset Management has a portfolio turnover rate of 10%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 34% for the Moderately Aggressive Allocation category.
Recently, in the month of August 2026, Boston Trust Asset Management returned 1.2%, which earned it a grade of F, as the Moderately Aggressive Allocation category had an average return of 1.9%. 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.
Boston Trust Asset Management has a trailing yield of 1.21%, which is below the 1.45% category average. The fund normally distributes its income annually 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.
Boston Trust Asset Management Grades
Year to date, the fund has returned 6.9%, 5.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 9.4% over the past year (grade of F), 9.8% over the past three years (grade of F) and 5.5% per year over the past five years (grade of F) and 9.1% per year over the past 10 years (grade of F).
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BTBFX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BTBFX Return (NAV) | 1.2% | 4.0% | 9.4% | 9.8% | 5.5% | 9.1% |
| BTBFX Grade | F | A | F | F | F | F |
| +/- Category | -0.7% | 2.1% | -8.3% | -6.8% | -3.2% | -1.4% |
| Moderately Aggressive Allocation Avg | 1.9% | 2.0% | 17.7% | 16.6% | 8.7% | 10.4% |
| BTBFX Tax Cost Ratio | na | na | 2.8% | 2.0% | 1.6% | 1.3% |
BTBFX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BTBFX Return (NAV) | 6.9% | 7.9% | 11.2% | 13.7% | -14.6% | 21.7% | 7.8% | 25.8% | -1.6% | 16.2% | 9.6% |
| BTBFX Grade | F | F | F | D | B | A | F | A | A | D | B |
| +/- Category | -5.0% | -8.1% | -4.5% | -2.8% | 1.1% | 3.6% | -5.1% | 3.2% | 5.4% | -1.0% | 0.3% |
| Moderately Aggressive Allocation Avg | 11.8% | 16.0% | 15.7% | 16.5% | -15.7% | 18.1% | 13.0% | 22.6% | -7.0% | 17.2% | 9.3% |
| Risk Measures | |
| Standard Deviation: | 8.6% |
| Total Risk Index: | 0.71 - Below Average |
| Category Risk Index: | 0.78 - Low |
| Category Risk Grade: | A (4% Rank) |
| Beta: | 0.80 |
| R-Squared: | 73% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.2% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $531 Mil |
| Fund Total Assets: | $ 531 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 11% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 7.0 years | |||
| Average Tenure: 7.0 years | |||
| Managers (Year): Crandall Kaser Amy (2019), O’Connell Jason (2019) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 112 |
| % in Top 10 Holdings: | 40.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.0% |
Portfolio Allocation |
|
| Domestic Stock: | 76.8% |
| Foreign Stock: | 2.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 20.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.3% |
Purchase Information
| Fund Family: | Boston Trust Walden Funds |
| Phone Number: | 800-282-8782 |
| Website: | www.btim.com |
| Status: | Open |
| Inception Date: | December 1, 1995 |
| Min. Initial Purchase: | $100,000 |
| 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 (%): | 0.78% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | Boston Trust Asset Management |
| Min. Subsequent Purchase: | $1,000 |
| Min. Subsequent IRA Purchase: | $ 0 |
