Fund Evaluator:
Navigator Ultra Short Term Bond I (NUSIX)
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Fund Details
Navigator Ultra Short Term Bond I Overview
Navigator Ultra Short Term Bond I (NUSIX) is an actively managed Taxable Bond Ultrashort Bond fund. Navigator Funds launched the fund in 2019.
The investment seeks current income consistent with the preservation of capital. The fund invests at least 80% of its assets, defined as net assets plus the amount of any borrowings for investment purposes, in fixed income securities. It may invest in debt securities of any maturity or credit quality, including those rated below investment grade. The fund will not invest more than 15% of its assets in high yield securities. The advisor expects that the investment portfolio for the fund will have an average duration of one year or less.
About Navigator Ultra Short Term Bond I (NUSIX)
There are 3 members of the management team with an average tenure of 5.67 years: Robert Bennett, Jr. (2019), Kevin Bellis (2024), Alexander Meyer (2019). 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 Trsy Bellwethers 1Y TR USD index with a weighting of 100%. Navigator Ultra Short Term Bond I has 81 securities in its portfolio. The top 10 holdings constitute 15.2% 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.
Navigator Ultra Short Term Bond I is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Navigator Ultra Short Term Bond I has 8.4% 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 79.0% (70.5% domestic bond, 8.4% foreign bond and 0.0% convertible bond). Navigator Ultra Short Term Bond I has 21.0% of the portfolio in cash.
Assets Under Management
The fund has $87 million in total assets, which is below the $950 million average for the Ultrashort 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.
NUSIX 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 Navigator Ultra Short Term Bond I expense ratio is average compared to funds in the Ultrashort Bond category. Navigator Ultra Short Term Bond I has an expense ratio of 0.41%, which is 9% lower than its category average, making the fund expense ratio grade a C. 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. Navigator Ultra Short Term Bond I has a portfolio turnover rate of 12%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 77% for the Ultrashort Bond category.
Recently, in the month of July 2026, Navigator Ultra Short Term Bond I returned 0.3%, which earned it a grade of D, as the Ultrashort Bond category had an average return of 0.3%. 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.
Navigator Ultra Short Term Bond I has a trailing yield of 3.96%, which is below the 4.21% category average. The fund normally distributes its income quarterly.
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.
Navigator Ultra Short Term Bond I Grades
Year to date, the fund has returned 2.1%, 0.0 percentage points better than the category, which translates into a grade of C. The fund has returned 4.1% over the past year (grade of C), 4.9% over the past three years (grade of D) and 3.8% per year over the past five years (grade of B).
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NUSIX 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 |
|
| NUSIX Return (NAV) | 0.3% | 0.9% | 4.1% | 4.9% | 3.8% | na |
| NUSIX Grade | D | C | C | D | B | na |
| +/- Category | -0.0% | -0.0% | -0.0% | -0.3% | 0.2% | na |
| Ultrashort Bond Avg | 0.3% | 0.9% | 4.1% | 5.2% | 3.6% | 2.7% |
| NUSIX Tax Cost Ratio | na | na | 1.6% | 1.9% | 1.5% | na |
NUSIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NUSIX Return (NAV) | 2.1% | 4.6% | 5.5% | 5.6% | 1.1% | 0.4% | 1.5% | na | na | na | na |
| NUSIX Grade | C | D | D | D | A | A | C | na | na | na | na |
| +/- Category | 0.0% | -0.2% | -0.3% | -0.3% | 1.3% | 0.2% | -0.0% | na | na | na | na |
| Ultrashort Bond Avg | 2.1% | 4.9% | 5.9% | 5.9% | -0.2% | 0.1% | 1.5% | 3.1% | 1.7% | 1.6% | 1.5% |
| Risk Measures | |
| Standard Deviation: | 0.3% |
| Total Risk Index: | 0.03 - Low |
| Category Risk Index: | 0.58 - Low |
| Category Risk Grade: | A (15% Rank) |
| Beta: | 0.02 |
| R-Squared: | 25% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 4.0% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $87 Mil |
| Fund Total Assets: | $ 87 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 12% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 7.4 years | |||
| Average Tenure: 5.7 years | |||
| Managers (Year): Bennett, Jr. Robert (2019), Meyer Alexander (2019), Bellis Kevin (2024) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 81 |
| % in Top 10 Holdings: | 15.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 8.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 70.5% |
| Foreign Bond: | 8.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 21.0% |
Purchase Information
| Fund Family: | Navigator Funds |
| Phone Number: | 877-766-2264 |
| Website: |
| Status: | Open |
| Inception Date: | March 21, 2019 |
| Min. Initial Purchase: | $25,000 |
| 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 (%): | 0.41% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.45% |
| Share Class: | Navigator Ultra Short Term Bond A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
