Fund Evaluator:
SA US Fixed Income (SAUFX)
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Best Performing in Short-Term Bond Over the Last Year
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Fund Details
SA US Fixed Income Overview
SA US Fixed Income (SAUFX) is an actively managed Taxable Bond Short-Term Bond fund. SA Funds launched the fund in 2007.
The investment seeks to maximize total return available from a universe of higher-quality fixed income investments maturing in one to ten years from the date of settlement. Generally, the fund manager acquires obligations that mature between one and ten years from the date of settlement. The fund has a non-fundamental investment policy that, under normal circumstances, it will invest at least 80% of its net assets in fixed income securities issued in the U.S. The fund generally invests in fixed income securities that are rated investment grade.
About SA US Fixed Income (SAUFX)
There are 2 members of the management team with an average tenure of 16.64 years: David Plecha (2007), Joseph Kolerich (2012). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Morningstar US Core Bd TR USD index with a weighting of 100% and Morningstar US 1-3Y Gov&Corp TR USD index with a weighting of 100%. SA US Fixed Income has 142 securities in its portfolio. The top 10 holdings constitute 32.3% 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.
SA US Fixed Income is part of the Fixed Income global asset class and is within the Taxable Bond fund group. SA US Fixed Income has 20.5% 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 93.7% (73.2% domestic bond, 20.5% foreign bond and 0.0% convertible bond). SA US Fixed Income has 6.3% of the portfolio in cash.
Assets Under Management
The fund has $439 million in total assets, which is below the $917 million average for the Short-Term 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.
SAUFX 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 SA US Fixed Income expense ratio is average compared to funds in the Short-Term Bond category. SA US Fixed Income has an expense ratio of 0.40%, which is 40% lower than its category average, making the fund expense ratio grade a B. 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 SA US Fixed Income. By way of comparison, the average portfolio turnover is 135% for the Short-Term Bond category.
Recently, in the month of August 2026, SA US Fixed Income returned 0.3%, which earned it a grade of B, as the Short-Term 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.
SA US Fixed Income has a trailing yield of 4.23%, which is above the 4.15% category average. The fund normally distributes its income quarterly 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.
SA US Fixed Income Grades
Year to date, the fund has returned 1.2%, 0.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 2.7% over the past year (grade of C), 4.7% over the past three years (grade of D) and 2.1% per year over the past five years (grade of D) and 1.4% per year over the past 10 years (grade of F).
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SAUFX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SAUFX Return (NAV) | 0.3% | 0.0% | 2.7% | 4.7% | 2.1% | 1.4% |
| SAUFX Grade | B | F | C | D | D | F |
| +/- Category | 0.0% | -0.3% | -0.1% | -0.3% | -0.2% | -0.9% |
| Short-Term Bond Avg | 0.3% | 0.4% | 2.7% | 5.0% | 2.3% | 2.3% |
| SAUFX Tax Cost Ratio | na | na | 1.7% | 1.8% | 1.3% | 0.8% |
SAUFX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SAUFX Return (NAV) | 1.2% | 5.8% | 5.2% | 4.8% | -5.1% | -1.4% | 0.6% | 2.3% | 1.2% | 0.3% | 0.6% |
| SAUFX Grade | C | C | B | D | C | F | F | F | B | F | F |
| +/- Category | -0.0% | -0.0% | 0.3% | -0.8% | -0.1% | -1.3% | -3.6% | -2.5% | 0.5% | -1.5% | -1.9% |
| Short-Term Bond Avg | 1.2% | 5.9% | 4.9% | 5.6% | -5.0% | -0.0% | 4.2% | 4.8% | 0.7% | 1.9% | 2.5% |
| Risk Measures | |
| Standard Deviation: | 1.3% |
| Total Risk Index: | 0.10 - Low |
| Category Risk Index: | 0.64 - Low |
| Category Risk Grade: | A (2% Rank) |
| Beta: | 0.14 |
| R-Squared: | 42% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 4.2% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $439 Mil |
| Fund Total Assets: | $ 440 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 19.4 years | |||
| Average Tenure: 16.6 years | |||
| Managers (Year): Plecha David (2007), Kolerich Joseph (2012) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 142 |
| % in Top 10 Holdings: | 32.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 20.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 73.2% |
| Foreign Bond: | 20.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 6.3% |
Purchase Information
| Fund Family: | SA Funds |
| Phone Number: | 844-366-0905 |
| Website: | www.sa-funds.net. |
| Status: | Open |
| Inception Date: | April 2, 2007 |
| Min. Initial Purchase: | $100,000 |
| 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: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.40% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.66% |
| Share Class: | SA US Fixed Income |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
