Fund Evaluator:
Loomis Sayles Securitized Asset (LSSAX)
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Best Performing in Securitized Bond - Diversified Over the Last Year
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Fund Details
Loomis Sayles Securitized Asset Overview
Loomis Sayles Securitized Asset (LSSAX) is an actively managed Taxable Bond Securitized Bond - Diversified fund. Loomis Sayles Funds launched the fund in 2006.
The investment seeks a high level of current income consistent with capital preservation. Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in a diversified portfolio of securitized assets, such as mortgage-backed and other asset-backed securities. The fund may invest in asset-backed securities of any type, including residential and commercial asset-backed securities, asset-backed securities related to automobiles, credit cards, home equity loans, manufactured housing, utilities, and other miscellaneous asset-backed securities.
About Loomis Sayles Securitized Asset (LSSAX)
There are 5 members of the management team with an average tenure of 9.05 years: Ian Anderson (2013), Alessandro Pagani (2010), Barath Sankaran (2021), Stephen LaPlante (2021), Jennifer Thomas (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 Bloomberg US Scrtzd MBS ABS CMBS TR USD index with a weighting of 100%. Loomis Sayles Securitized Asset has 672 securities in its portfolio. The top 10 holdings constitute 38.9% 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.
Loomis Sayles Securitized Asset is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Loomis Sayles Securitized Asset has 3.0% 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 118.9% (115.9% domestic bond, 3.0% foreign bond and 0.0% convertible bond). Loomis Sayles Securitized Asset has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $547 million average for the Securitized Bond - Diversified 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.
LSSAX 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 Loomis Sayles Securitized Asset expense ratio is low compared to funds in the Securitized Bond - Diversified category. Loomis Sayles Securitized Asset 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. Loomis Sayles Securitized Asset has a portfolio turnover rate of 104%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 361% for the Securitized Bond - Diversified category.
Recently, in the month of July 2026, Loomis Sayles Securitized Asset returned -1.2%, which earned it a grade of D, as the Securitized Bond - Diversified category had an average return of -0.7%. 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.
Loomis Sayles Securitized Asset has a trailing yield of 4.72%, which is below the 5.10% 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.
Loomis Sayles Securitized Asset Grades
Year to date, the fund has returned 0.4%, 0.6 percentage points worse than the category, which translates into a grade of C. The fund has returned 4.7% over the past year (grade of B), 5.7% over the past three years (grade of C) and 1.2% per year over the past five years (grade of C) and 2.4% per year over the past 10 years (grade of C).
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LSSAX 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 |
|
| LSSAX Return (NAV) | -1.2% | -0.5% | 4.7% | 5.7% | 1.2% | 2.4% |
| LSSAX Grade | D | C | B | C | C | C |
| +/- Category | -0.5% | -0.5% | 0.2% | -0.5% | -1.0% | -0.2% |
| Securitized Bond - Diversified Avg | -0.7% | -0.0% | 4.6% | 6.2% | 2.1% | 2.6% |
| LSSAX Tax Cost Ratio | na | na | 1.9% | 1.9% | 2.1% | 2.2% |
LSSAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LSSAX Return (NAV) | 0.4% | 8.7% | 3.9% | 7.0% | -11.8% | 0.6% | 4.7% | 6.8% | 2.5% | 3.4% | 3.1% |
| LSSAX Grade | C | B | D | C | D | D | B | C | B | D | C |
| +/- Category | -0.6% | 0.6% | -1.8% | 0.4% | -2.5% | -1.2% | 3.3% | -0.4% | 0.6% | -0.8% | 0.0% |
| Securitized Bond - Diversified Avg | 1.1% | 8.1% | 5.7% | 6.6% | -9.3% | 1.8% | 1.3% | 7.2% | 1.9% | 4.2% | 3.1% |
| Risk Measures | |
| Standard Deviation: | 5.7% |
| Total Risk Index: | 0.46 - Low |
| Category Risk Index: | 1.27 - Average |
| Category Risk Grade: | C (54% Rank) |
| Beta: | 1.00 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 4.7% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1537 Mil |
| Fund Total Assets: | $1,538 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 104% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 16.5 years | |||
| Average Tenure: 9.0 years | |||
| Managers (Year): Pagani Alessandro (2010), Anderson Ian (2013), Sankaran Barath (2021), LaPlante Stephen (2021), Thomas Jennifer (2021) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 672 |
| % in Top 10 Holdings: | 38.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 115.9% |
| Foreign Bond: | 3.0% |
| Convertible Bond: | 0.0% |
| Other: | -21.4% |
| Cash: | 2.4% |
Purchase Information
| Fund Family: | Loomis Sayles Funds |
| Phone Number: | 800-633-3330 |
| Website: | www.loomissayles.com |
| Status: | Open |
| Inception Date: | March 2, 2006 |
| 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: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.00% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | Loomis Sayles Securitized Asset |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
