Fund Evaluator:
AMG GW&K Securitized Bond SMA (GWSBX)
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Best Performing in Intermediate Core Bond Over the Last Year
| 5.2% | MML Barings Core Bond M1 (MMCDX) |
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| 5.0% | Aristotle Pacific EXclusive Series I (APXIX) |
| 4.5% | Nuveen Core Impact Bond I (TSBHX) |
| 4.3% | Carillon Reams Core Bond I (SCCIX) |
Fund Details
AMG GW&K Securitized Bond SMA Overview
AMG GW&K Securitized Bond SMA (GWSBX) is an actively managed Taxable Bond Intermediate Core Bond fund. AMG Funds launched the fund in 2025.
The investment seeks to provide total return through income and capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a diversified portfolio of securitized bonds. The fund manager considers a securitized bond to be an interest in a pool of mortgages, loans, receivables, or other assets.
About AMG GW&K Securitized Bond SMA (GWSBX)
There are 3 members of the management team with an average tenure of 0.72 years: Brett Kozlowski (2025), Brendan Doucette (2025), Brian McArdle (2026). Management tenure is more important for actively managed funds than passive index funds.
AMG GW&K Securitized Bond SMA has 162 securities in its portfolio. The top 10 holdings constitute 31.3% 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.
AMG GW&K Securitized Bond SMA is part of the Fixed Income global asset class and is within the Taxable Bond fund group. AMG GW&K Securitized Bond SMA has 3.7% 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 98.5% (94.8% domestic bond, 3.7% foreign bond and 0.0% convertible bond). AMG GW&K Securitized Bond SMA has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $122 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.
GWSBX 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 AMG GW&K Securitized Bond SMA expense ratio is low compared to funds in the Intermediate Core Bond category. AMG GW&K Securitized Bond SMA has an expense ratio of 0.00%, which is 100% 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. A portfolio turnover rate cannot be currently calculated for AMG GW&K Securitized Bond SMA. By way of comparison, the average portfolio turnover is 150% for the Intermediate Core Bond category.
Recently, in the month of June 2026, AMG GW&K Securitized Bond SMA returned 0.3%, which earned it a grade of B, as the Intermediate Core 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.
AMG GW&K Securitized Bond SMA has a trailing yield of 5.24%, which is above the 3.97% 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.
AMG GW&K Securitized Bond SMA Grades
Year to date, the fund has returned 1.2%, 0.6 percentage points better than the category, which translates into a grade of A. The fund has returned 5.3% over the past year (grade of A).
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GWSBX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GWSBX Return (NAV) | 0.3% | 0.7% | 5.3% | na | na | na |
| GWSBX Grade | B | C | A | na | na | na |
| +/- Category | 0.1% | -0.0% | 1.6% | na | na | na |
| Intermediate Core Bond Avg | 0.2% | 0.7% | 3.7% | 4.2% | -0.0% | 1.6% |
| GWSBX Tax Cost Ratio | na | na | 2.2% | na | na | na |
GWSBX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GWSBX Return (NAV) | 1.2% | na | na | na | na | na | na | na | na | na | na |
| GWSBX Grade | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.6% | na | na | na | na | na | na | na | na | na | na |
| Intermediate Core Bond Avg | 0.6% | 7.0% | 1.6% | 5.6% | -13.2% | -1.5% | 8.1% | 8.5% | -0.4% | 3.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 5.2% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $122 Mil |
| Fund Total Assets: | $ 123 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.1 years | |||
| Average Tenure: 0.7 years | |||
| Managers (Year): Kozlowski Brett (2025), Doucette Brendan (2025), McArdle Brian (2026) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 162 |
| % in Top 10 Holdings: | 31.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 94.8% |
| Foreign Bond: | 3.7% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
Purchase Information
| Fund Family: | AMG Funds |
| Phone Number: | 800-548-4539 |
| Website: | www.amgfunds.com |
| Status: | Open |
| Inception Date: | June 12, 2025 |
| Min. Initial Purchase: | $ 0 |
| 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 (%): | 0.00% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | AMG GW&K Securitized Bond SMA |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
