Fund Evaluator:
CCM Community Impact Bond Retail (CRATX)
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Fund Details
CCM Community Impact Bond Retail Overview
CCM Community Impact Bond Retail (CRATX) is an actively managed Taxable Bond Intermediate Core Bond fund. Community Capital Management launched the fund in 2007.
The investment seeks to provide a high level of current income consistent with the preservation of capital through investments that the Advisor believes will have a positive impact. The fund will invest at least 80% of its net assets in bonds, which include debt securities and other debt instruments, that meet the fund’s impact criteria. It will invest primarily in securities issued or guaranteed as to principal and interest by the U.S. government or by its agencies, instrumentalities or sponsored enterprises and a significant amount of its assets will be invested in single-family, multi-family and economic development loan-backed securities.
About CCM Community Impact Bond Retail (CRATX)
There are 5 members of the management team with an average tenure of 6.82 years: Elliot Gilfarb (2012), Andy Kaufman (2015), Alex Alario (2024), Miriam Legrand (2022), Shonali Pal (2022). 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 Agg Interm TR USD index with a weighting of 100%. CCM Community Impact Bond Retail has 2594 securities in its portfolio. The top 10 holdings constitute 15.3% 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.
CCM Community Impact Bond Retail is part of the Fixed Income global asset class and is within the Taxable Bond fund group. CCM Community Impact Bond Retail has 2.8% 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 97.3% (94.4% domestic bond, 2.8% foreign bond and 0.0% convertible bond). CCM Community Impact Bond Retail has 2.7% of the portfolio in cash.
Assets Under Management
The fund has $30 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.
CRATX 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 CCM Community Impact Bond Retail expense ratio is above average compared to funds in the Intermediate Core Bond category. CCM Community Impact Bond Retail has an expense ratio of 0.77%, which is 36% higher than its category average, making the fund expense ratio grade a D. 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. CCM Community Impact Bond Retail has a portfolio turnover rate of 28%, 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, CCM Community Impact Bond Retail returned -1.0%, which earned it a grade of A, 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.
CCM Community Impact Bond Retail has a trailing yield of 3.26%, which is below 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.
CCM Community Impact Bond Retail Grades
Year to date, the fund has returned -0.3%, 0.4 percentage points better than the category, which translates into a grade of A. The fund has returned 2.8% over the past year (grade of B), 3.7% over the past three years (grade of C) and 0.0% per year over the past five years (grade of A) and 0.9% per year over the past 10 years (grade of F).
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CRATX 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 |
|
| CRATX Return (NAV) | -1.0% | -0.7% | 2.8% | 3.7% | 0.0% | 0.9% |
| CRATX Grade | A | A | B | C | A | F |
| +/- Category | 0.4% | 0.2% | 0.3% | -0.0% | 0.5% | -0.5% |
| Intermediate Core Bond Avg | -1.3% | -0.8% | 2.5% | 3.7% | -0.5% | 1.4% |
| CRATX Tax Cost Ratio | na | na | 1.3% | 1.2% | 1.0% | 1.0% |
CRATX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CRATX Return (NAV) | -0.3% | 6.4% | 2.2% | 4.0% | -10.0% | -1.6% | 4.1% | 5.4% | 0.3% | 2.3% | 0.7% |
| CRATX Grade | A | F | A | F | A | C | F | F | A | F | F |
| +/- Category | 0.4% | -0.6% | 0.6% | -1.6% | 3.1% | -0.2% | -4.0% | -3.0% | 0.7% | -1.3% | -2.0% |
| 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: | 4.5% |
| Total Risk Index: | 0.37 - Low |
| Category Risk Index: | 0.80 - Low |
| Category Risk Grade: | A (5% Rank) |
| Beta: | 0.79 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 3.3% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $4003 Mil |
| Fund Total Assets: | $ 31 Mil |
| Share Class Type: | Adv |
| Portfolio Turnover: | 28% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 13.8 years | |||
| Average Tenure: 6.8 years | |||
| Managers (Year): Gilfarb Elliot (2012), Kaufman Andy (2015), Legrand Miriam (2022), Pal Shonali (2022), Alario Alex (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 2594 |
| % in Top 10 Holdings: | 15.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 94.4% |
| Foreign Bond: | 2.8% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.7% |
Purchase Information
| Fund Family: | Community Capital Management |
| Phone Number: | 877-272-1977 |
| Website: | www.ccmfixedincome.com |
| Status: | Open |
| Inception Date: | March 2, 2007 |
| Min. Initial Purchase: | $2,500 |
| 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: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.77% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | CCM Community Impact Bond CRA |
| Min. Subsequent Purchase: | $1,000 |
| Min. Subsequent IRA Purchase: | $ 0 |
