Fund Evaluator:
CrossingBridge Ultra-Short Dur Instl (CBUDX)
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Fund Details
CrossingBridge Ultra-Short Dur Instl Overview
CrossingBridge Ultra-Short Dur Instl (CBUDX) is an actively managed Taxable Bond Ultrashort Bond fund. CrossingBridge launched the fund in 2021.
The investment seeks to offer a higher yield than cash instruments while maintaining a low duration. The fund seeks to offer a higher yield than cash instruments while maintaining a low duration by investing primarily in fixed income securities consistent with capital preservation. It invests in individual fixed income securities without restriction as to issuer credit quality, capitalization or security maturity. Though the fund can invest in securities domiciled in foreign countries and denominated in foreign currencies, the fund invests primarily in securities denominated in U.S. dollars issued by issuers domiciled in developed markets.
About CrossingBridge Ultra-Short Dur Instl (CBUDX)
There are 3 members of the management team with an average tenure of 3.89 years: David Sherman (2021), Michael De Kler (2025), T. Kirk Whitney (2021). 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 ICE BofA 0-1Y US Corp TR LOC index with a weighting of 100%. CrossingBridge Ultra-Short Dur Instl has 116 securities in its portfolio. The top 10 holdings constitute 20.5% 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.
CrossingBridge Ultra-Short Dur Instl is part of the Fixed Income global asset class and is within the Taxable Bond fund group. CrossingBridge Ultra-Short Dur Instl has 6.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 10.4%. There is 0.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 59.0% (53.2% domestic bond, 5.8% foreign bond and 0.2% convertible bond). CrossingBridge Ultra-Short Dur Instl has 30.1% of the portfolio in cash.
Assets Under Management
The fund has $418 million in total assets, which is below the $950 million average for the Ultrashort 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.
CBUDX 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 CrossingBridge Ultra-Short Dur Instl expense ratio is high compared to funds in the Ultrashort Bond category. CrossingBridge Ultra-Short Dur Instl has an expense ratio of 0.84%, which is 87% higher than its category average, making the fund expense ratio grade a F. 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. CrossingBridge Ultra-Short Dur Instl has a portfolio turnover rate of 164%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Ultrashort Bond category.
Recently, in the month of July 2026, CrossingBridge Ultra-Short Dur Instl returned 0.4%, which earned it a grade of A, as the Ultrashort Bond category had an average return of 0.3%. 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.
CrossingBridge Ultra-Short Dur Instl has a trailing yield of 4.62%, which is above the 4.21% 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.
CrossingBridge Ultra-Short Dur Instl Grades
Year to date, the fund has returned 2.5%, 0.4 percentage points better than the category, which translates into a grade of A. The fund has returned 4.6% over the past year (grade of A), 5.5% over the past three years (grade of B) and 4.3% per year over the past five years (grade of A).
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CBUDX 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 |
|
| CBUDX Return (NAV) | 0.4% | 0.9% | 4.6% | 5.5% | 4.3% | na |
| CBUDX Grade | A | C | A | B | A | na |
| +/- Category | 0.1% | -0.0% | 0.5% | 0.3% | 0.7% | na |
| Ultrashort Bond Avg | 0.3% | 0.9% | 4.1% | 5.2% | 3.6% | 2.7% |
| CBUDX Tax Cost Ratio | na | na | 1.9% | 2.1% | 1.8% | na |
CBUDX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CBUDX Return (NAV) | 2.5% | 5.2% | 5.8% | 5.7% | 2.5% | na | na | na | na | na | na |
| CBUDX Grade | A | A | C | C | A | na | na | na | na | na | na |
| +/- Category | 0.4% | 0.4% | -0.1% | -0.3% | 2.6% | na | na | na | na | na | na |
| Ultrashort Bond Avg | 2.1% | 4.9% | 5.9% | 5.9% | -0.2% | 0.1% | 1.5% | 3.1% | 1.7% | 1.6% | 1.5% |
| Risk Measures | |
| Standard Deviation: | 0.5% |
| Total Risk Index: | 0.04 - Low |
| Category Risk Index: | 0.87 - Average |
| Category Risk Grade: | C (44% Rank) |
| Beta: | 0.02 |
| R-Squared: | 6% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 4.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $418 Mil |
| Fund Total Assets: | $ 419 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 164% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 5.1 years | |||
| Average Tenure: 3.9 years | |||
| Managers (Year): Sherman David (2021), Whitney T. Kirk (2021), De Kler Michael (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 116 |
| % in Top 10 Holdings: | 20.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.1% |
Portfolio Allocation |
|
| Domestic Stock: | 10.4% |
| Foreign Stock: | 0.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 53.2% |
| Foreign Bond: | 5.8% |
| Convertible Bond: | 0.2% |
| Other: | 0.0% |
| Cash: | 30.1% |
Purchase Information
| Fund Family: | CrossingBridge |
| Phone Number: | 888-898-2780 |
| Website: |
| Status: | Open |
| Inception Date: | June 30, 2021 |
| Min. Initial Purchase: | $5,000 |
| Min. Initial IRA Purchase: | $5,000 |
| 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 (%): | 0.84% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.45% |
| Share Class: | CrossingBridge Ultra-Short Dur Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
