Fund Evaluator:
Loomis Sayles Ltd Term Govt and Agency C (NECLX)
Follow This Fund
Best Performing in Short Government Over the Last Year
| 3.3% | Vanguard Short-Term Federal Adm (VSGDX) |
| 3.2% | Vanguard Short-Term Federal Inv (VSGBX) |
| 3.1% | Vanguard Short-Term Treasury Idx Admiral (VSBSX) |
| 3.0% | Vanguard Short-Term Treasury Adm (VFIRX) |
| 2.9% | Vanguard Short-Term Treasury Inv (VFISX) |
Fund Details
Loomis Sayles Ltd Term Govt and Agency C Overview
Loomis Sayles Ltd Term Govt and Agency C (NECLX) is an actively managed Taxable Bond Short Government fund. Loomis Sayles Funds launched the fund in 1994.
The investment seeks high current return consistent with preservation of capital. The fund normally invests at least 80% of its net assets in investments issued or guaranteed by the U.S. government, its agencies or instrumentalities. It may invest in securities with credit quality above or below the credit rating of the U.S. government's long-term debt. The fund may also invest in investment grade corporate notes and bonds, collateralized loan obligations, zero-coupon bonds, securities issued pursuant to Rule 144A under the Securities Act of 1933, asset-backed securities and mortgage-related securities including mortgage dollar rolls, and etc.
About Loomis Sayles Ltd Term Govt and Agency C (NECLX)
There are 3 members of the management team with an average tenure of 15.43 years: Daniel Conklin (2019), Clifton Rowe (2001), Christopher Harms (2012). 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 Government 1-5 Yr TR USD index with a weighting of 100%. Loomis Sayles Ltd Term Govt and Agency C has 259 securities in its portfolio. The top 10 holdings constitute 38.4% 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.
Loomis Sayles Ltd Term Govt and Agency C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Loomis Sayles Ltd Term Govt and Agency C has 0.0% 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 83.8% (83.8% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Loomis Sayles Ltd Term Govt and Agency C has 16.2% of the portfolio in cash.
Assets Under Management
The fund has $3 million in total assets, which is below the $437 million average for the Short Government 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.
NECLX 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 Ltd Term Govt and Agency C expense ratio is high compared to funds in the Short Government category. Loomis Sayles Ltd Term Govt and Agency C has an expense ratio of 1.45%, which is 126% 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. Loomis Sayles Ltd Term Govt and Agency C has a portfolio turnover rate of 269%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 217% for the Short Government category.
Recently, in the month of July 2026, Loomis Sayles Ltd Term Govt and Agency C returned -0.2%, which earned it a grade of D, as the Short Government category had an average return of -0.1%. 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 Ltd Term Govt and Agency C has a trailing yield of 2.71%, which is below the 3.82% 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 Ltd Term Govt and Agency C Grades
Year to date, the fund has returned 0.1%, 0.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.0% over the past year (grade of F), 3.4% over the past three years (grade of F) and 0.9% per year over the past five years (grade of F) and 0.8% per year over the past 10 years (grade of F).
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NECLX 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 |
|
| NECLX Return (NAV) | -0.2% | -0.1% | 2.0% | 3.4% | 0.9% | 0.8% |
| NECLX Grade | D | F | F | F | F | F |
| +/- Category | -0.1% | -0.2% | -1.0% | -0.8% | -0.6% | -0.7% |
| Short Government Avg | -0.1% | 0.1% | 2.9% | 4.2% | 1.5% | 1.5% |
| NECLX Tax Cost Ratio | na | na | 1.1% | 1.2% | 0.9% | 0.6% |
NECLX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NECLX Return (NAV) | 0.1% | 4.6% | 2.9% | 4.2% | -5.3% | -1.9% | 2.3% | 2.5% | 0.3% | 0.2% | -0.1% |
| NECLX Grade | F | F | F | B | D | F | F | D | F | D | F |
| +/- Category | -0.5% | -0.9% | -0.9% | 0.2% | -0.5% | -0.8% | -0.8% | -0.7% | -0.9% | -0.3% | -0.8% |
| Short Government Avg | 0.6% | 5.4% | 3.8% | 4.0% | -4.9% | -1.1% | 3.2% | 3.2% | 1.1% | 0.5% | 0.7% |
| Risk Measures | |
| Standard Deviation: | 1.9% |
| Total Risk Index: | 0.15 - Low |
| Category Risk Index: | 0.97 - Average |
| Category Risk Grade: | C (60% Rank) |
| Beta: | 0.31 |
| R-Squared: | 87% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 2.7% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $646 Mil |
| Fund Total Assets: | $ 4 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 269% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 25.2 years | |||
| Average Tenure: 15.4 years | |||
| Managers (Year): Rowe Clifton (2001), Harms Christopher (2012), Conklin Daniel (2019) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 259 |
| % in Top 10 Holdings: | 38.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 83.8% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 16.2% |
Purchase Information
| Fund Family: | Loomis Sayles Funds |
| Phone Number: | 800-225-5478 |
| Website: | www.loomissayles.com |
| Status: | Open |
| Inception Date: | December 30, 1994 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.45% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.64% |
| Share Class: | Loomis Sayles Ltd Term Govt and Agency A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
