Fund Evaluator:
MML Barings Core Bond M2 (MMCAX)
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Best Performing in Intermediate Core Bond Over the Last Year
| 5.2% | MML Barings Core Bond M1 (MMCDX) |
| 5.2% | MML Barings Core Bond M2 (MMCAX) |
| 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
MML Barings Core Bond M2 Overview
MML Barings Core Bond M2 (MMCAX) is an actively managed Taxable Bond Intermediate Core Bond fund. MassMutual launched the fund in 2026.
The investment seeks to achieve a high total rate of return consistent with prudent investment risk and the preservation of capital by investing primarily in a diversified portfolio of investment grade fixed income securities. The fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade fixed income securities. Barings intends for the fund's portfolio dollar-weighted average duration generally to match (within 10%) the average duration of the Bloomberg U.S. Aggregate Bond Index.
About MML Barings Core Bond M2 (MMCAX)
There are 3 members of the management team with an average tenure of 4.77 years: Charles Sanford (2020), Stephen Ehrenberg (2019), Rishi Kapur (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. MML Barings Core Bond M2 has 401 securities in its portfolio. The top 10 holdings constitute 21.4% 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.
MML Barings Core Bond M2 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. MML Barings Core Bond M2 has 13.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.5%. There is 0.0% allocated to foreign stock, and 2.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 92.1% (78.5% domestic bond, 13.6% foreign bond and 0.2% convertible bond). MML Barings Core Bond M2 has 3.8% of the portfolio in cash.
Assets Under Management
The fund has $1 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.
MMCAX 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 MML Barings Core Bond M2 expense ratio is low compared to funds in the Intermediate Core Bond category. MML Barings Core Bond M2 has an expense ratio of 0.05%, which is 91% 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. MML Barings Core Bond M2 has a portfolio turnover rate of 149%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 150% for the Intermediate Core Bond category.
Recently, in the month of June 2026, MML Barings Core Bond M2 returned 0.4%, which earned it a grade of A, 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.
MML Barings Core Bond M2 has a trailing yield of 0.00%, which is below the 3.97% category average. The fund normally distributes its income daily 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.
MML Barings Core Bond M2 Grades
Year to date, the fund has returned 1.4%, 0.8 percentage points better than the category, which translates into a grade of A. The fund has returned 5.2% over the past year (grade of A), 6.0% over the past three years (grade of A) and 0.6% per year over the past five years (grade of A) and 2.3% per year over the past 10 years (grade of A).
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MMCAX 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 |
|
| MMCAX Return (NAV) | 0.4% | 1.6% | 5.2% | 6.0% | 0.6% | 2.3% |
| MMCAX Grade | A | A | A | A | A | A |
| +/- Category | 0.2% | 0.9% | 1.5% | 1.8% | 0.6% | 0.7% |
| Intermediate Core Bond Avg | 0.2% | 0.7% | 3.7% | 4.2% | -0.0% | 1.6% |
| MMCAX Tax Cost Ratio | na | na | na | na | na | na |
MMCAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MMCAX Return (NAV) | 1.4% | 8.0% | 3.8% | 6.6% | -15.3% | 0.6% | 8.4% | 9.6% | -0.5% | 4.6% | 2.7% |
| MMCAX Grade | A | A | A | A | F | A | B | A | C | A | C |
| +/- Category | 0.8% | 1.0% | 2.2% | 1.0% | -2.2% | 2.1% | 0.3% | 1.1% | -0.0% | 1.0% | -0.0% |
| 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: | 5.6% |
| Total Risk Index: | 0.46 - Low |
| Category Risk Index: | 1.01 - Above Average |
| Category Risk Grade: | D (61% Rank) |
| Beta: | 0.99 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | -- |
| Dividend Distribution: | Daily |
| Cap Gains Distribution: | Annually |
| Total Assets: | $846 Mil |
| Fund Total Assets: | $ 1 Mil |
| Share Class Type: | M |
| Portfolio Turnover: | 149% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 7.4 years | |||
| Average Tenure: 4.8 years | |||
| Managers (Year): Ehrenberg Stephen (2019), Sanford Charles (2020), Kapur Rishi (2025) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 401 |
| % in Top 10 Holdings: | 21.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 13.6% |
Portfolio Allocation |
|
| Domestic Stock: | 1.5% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 2.5% |
| Domestic Bond: | 78.5% |
| Foreign Bond: | 13.6% |
| Convertible Bond: | 0.2% |
| Other: | 0.0% |
| Cash: | 3.8% |
Purchase Information
| Fund Family: | MassMutual |
| Phone Number: | 188-830-9353 |
| Website: | www.massmutual.com |
| Status: | Open |
| Inception Date: | February 2, 2026 |
| 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 (%): | 0.05% ( Rating : Low ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | MML Barings Core Bond R5 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
