Fund Evaluator:
Touchstone Ultra Short Dur F/I Y (TSYYX)
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Best Performing in Ultrashort Bond Over the Last Year
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| 4.5% | Touchstone Ultra Short Dur F/I Y (TSYYX) |
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Fund Details
Touchstone Ultra Short Dur F/I Y Overview
Touchstone Ultra Short Dur F/I Y (TSYYX) is an actively managed Taxable Bond Ultrashort Bond fund. Touchstone launched the fund in 2012.
The investment seeks maximum total return consistent with the preservation of capital. The fund invests, under normal market conditions, at least 80% of its assets in fixed-income securities. It invests in a diversified portfolio of securities of different maturities including U.S. Treasury securities, U.S. government agency securities, securities of U.S. government-sponsored enterprises, corporate bonds, mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities, municipal bonds, collateralized loan obligations and cash equivalent securities including repurchase agreements, commercial paper and variable rate demand notes.
About Touchstone Ultra Short Dur F/I Y (TSYYX)
There are 4 members of the management team with an average tenure of 11.09 years: Brent Miller (2008), Laura Mayfield (2021), Richard V. Schneider (2023), Scott Weston (2008). 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 ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. Touchstone Ultra Short Dur F/I Y has 289 securities in its portfolio. The top 10 holdings constitute 14.7% 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.
Touchstone Ultra Short Dur F/I Y is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Touchstone Ultra Short Dur F/I Y has 12.9% 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 88.9% (76.0% domestic bond, 12.9% foreign bond and 0.0% convertible bond). Touchstone Ultra Short Dur F/I Y has 11.1% of the portfolio in cash.
Assets Under Management
The fund has $572 million in total assets, which is below the $941 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.
TSYYX 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 Touchstone Ultra Short Dur F/I Y expense ratio is average compared to funds in the Ultrashort Bond category. Touchstone Ultra Short Dur F/I Y has an expense ratio of 0.40%, which is 11% 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. Touchstone Ultra Short Dur F/I Y has a portfolio turnover rate of 80%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Ultrashort Bond category.
Recently, in the month of June 2026, Touchstone Ultra Short Dur F/I Y returned 0.3%, which earned it a grade of B, 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.
Touchstone Ultra Short Dur F/I Y has a trailing yield of 4.51%, which is above the 4.24% category average. The fund normally distributes its income monthly.
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.
Touchstone Ultra Short Dur F/I Y Grades
Year to date, the fund has returned 2.0%, 0.3 percentage points better than the category, which translates into a grade of A. The fund has returned 4.5% over the past year (grade of B), 5.8% over the past three years (grade of A) and 4.0% per year over the past five years (grade of A) and 2.9% per year over the past 10 years (grade of A).
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TSYYX 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 |
|
| TSYYX Return (NAV) | 0.3% | 1.1% | 4.5% | 5.8% | 4.0% | 2.9% |
| TSYYX Grade | B | A | B | A | A | A |
| +/- Category | 0.1% | 0.1% | 0.3% | 0.5% | 0.4% | 0.2% |
| Ultrashort Bond Avg | 0.3% | 1.0% | 4.2% | 5.3% | 3.6% | 2.7% |
| TSYYX Tax Cost Ratio | na | na | 1.8% | 2.0% | 1.6% | 1.2% |
TSYYX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TSYYX Return (NAV) | 2.0% | 4.9% | 6.8% | 5.9% | 0.3% | 0.5% | 1.5% | 3.3% | 1.9% | 1.7% | 1.7% |
| TSYYX Grade | A | B | A | C | B | A | C | B | B | B | B |
| +/- Category | 0.3% | 0.0% | 1.0% | -0.0% | 0.5% | 0.3% | -0.1% | 0.2% | 0.2% | 0.1% | 0.2% |
| Ultrashort Bond Avg | 1.8% | 4.9% | 5.9% | 5.9% | -0.2% | 0.1% | 1.5% | 3.1% | 1.7% | 1.6% | 1.5% |
| Risk Measures | |
| Standard Deviation: | 0.5% |
| Total Risk Index: | 0.04 - Low |
| Category Risk Index: | 0.95 - Above Average |
| Category Risk Grade: | D (61% Rank) |
| Beta: | 0.04 |
| R-Squared: | 22% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 4.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $1006 Mil |
| Fund Total Assets: | $ 573 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 80% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 17.8 years | |||
| Average Tenure: 11.1 years | |||
| Managers (Year): Miller Brent (2008), Weston Scott (2008), Mayfield Laura (2021), Schneider Richard V. (2023) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 289 |
| % in Top 10 Holdings: | 14.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 12.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 76.0% |
| Foreign Bond: | 12.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 11.1% |
Purchase Information
| Fund Family: | Touchstone |
| Phone Number: | 800-543-0407 |
| Website: | www.touchstoneinvestments.com |
| Status: | Open |
| Inception Date: | April 12, 2012 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| 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 (%): | 0.45% |
| Share Class: | Touchstone Ultra Short Dur F/I Z |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
