Fund Evaluator:
UBS Multi Income Bond A (UTBAX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
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Fund Details
UBS Multi Income Bond A Overview
UBS Multi Income Bond A (UTBAX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. UBS Asset Management launched the fund in 2016.
The investment seeks to maximize total return, consisting of capital appreciation and current income. The fund invests at least 80% of its net assets (plus borrowings for investment purposes, if any) in bonds and/or instruments that provide exposure to bond markets. It will invest at least 50% of its net assets in securities that, at the time of purchase, are rated investment grade by an independent rating agency (or, if unrated, are deemed to be of comparable quality by the Advisor), but may invest up to 50% in securities rated below investment grade (also known as lower-rated or "junk bonds").
About UBS Multi Income Bond A (UTBAX)
There are 2 members of the management team with an average tenure of 6.13 years: Branimir Petranovic (2018), David Kim (2022). 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%. UBS Multi Income Bond A has 237 securities in its portfolio. The top 10 holdings constitute 34.8% 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.
UBS Multi Income Bond A is part of the Fixed Income global asset class and is within the Taxable Bond fund group. UBS Multi Income Bond A has 6.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -0.7%. There is 0.0% allocated to foreign stock, and 3.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.7% (90.7% domestic bond, 6.0% foreign bond and 0.0% convertible bond). UBS Multi Income Bond A has 0.8% of the portfolio in cash.
Assets Under Management
The fund has $263 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus 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.
UTBAX 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 UBS Multi Income Bond A expense ratio is high compared to funds in the Intermediate Core-Plus Bond category. UBS Multi Income Bond A has an expense ratio of 0.90%, which is 15% higher than its category average, making the fund expense ratio grade a D. 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. UBS Multi Income Bond A has a portfolio turnover rate of 58%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 180% for the Intermediate Core-Plus Bond category.
Recently, in the month of June 2026, UBS Multi Income Bond A returned 0.4%, which earned it a grade of A, as the Intermediate Core-Plus 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.
UBS Multi Income Bond A has a trailing yield of 4.42%, which is above the 4.29% 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.
UBS Multi Income Bond A Grades
Year to date, the fund has returned 1.5%, 0.8 percentage points better than the category, which translates into a grade of A. The fund has returned 4.9% over the past year (grade of A), 4.5% over the past three years (grade of D) and 0.5% per year over the past five years (grade of B) and 1.8% per year over the past 10 years (grade of D).
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UTBAX 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 |
|
| UTBAX Return (NAV) | 0.4% | 2.5% | 4.9% | 4.5% | 0.5% | 1.8% |
| UTBAX Grade | A | A | A | D | B | D |
| +/- Category | 0.2% | 1.5% | 1.0% | -0.1% | 0.2% | -0.3% |
| Intermediate Core-Plus Bond Avg | 0.3% | 0.9% | 3.9% | 4.7% | 0.3% | 2.1% |
| UTBAX Tax Cost Ratio | na | na | 1.8% | 1.7% | 1.4% | na |
UTBAX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| UTBAX Return (NAV) | 1.5% | 6.9% | 1.4% | 6.4% | -12.0% | -1.7% | 6.3% | 10.4% | -2.4% | 4.6% | 2.3% |
| UTBAX Grade | A | D | F | C | A | F | F | A | F | C | F |
| +/- Category | 0.8% | -0.5% | -0.8% | 0.3% | 1.4% | -1.1% | -2.4% | 1.2% | -1.5% | 0.2% | -2.0% |
| Intermediate Core-Plus Bond Avg | 0.7% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 5.1% |
| Total Risk Index: | 0.42 - Low |
| Category Risk Index: | 0.93 - Low |
| Category Risk Grade: | A (14% Rank) |
| Beta: | 0.89 |
| R-Squared: | 93% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.4% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $120 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 58% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 8.2 years | |||
| Average Tenure: 6.1 years | |||
| Managers (Year): Petranovic Branimir (2018), Kim David (2022) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 237 |
| % in Top 10 Holdings: | 34.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.0% |
Portfolio Allocation |
|
| Domestic Stock: | -0.7% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 3.2% |
| Domestic Bond: | 90.7% |
| Foreign Bond: | 6.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.8% |
Purchase Information
| Fund Family: | UBS Asset Management |
| Phone Number: | 800-647-1568 |
| Website: | www.ubs.com |
| Status: | Open |
| Inception Date: | September 29, 2016 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 3.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.90% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | UBS Multi Income Bond P |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
