Fund Evaluator:
AMG GW&K ESG Bond N (MGFIX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
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| 4.9% | Diamond Hill Core Plus Bond I (DHNIX) |
| 4.7% | Carillon Reams Core Plus Bond I (SCPZX) |
| 4.7% | Cavanal Hill Strategic Enhanced Yld Inv (APENX) |
Fund Details
AMG GW&K ESG Bond N Overview
AMG GW&K ESG Bond N (MGFIX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. AMG Funds launched the fund in 1984.
The investment seeks to generate income and capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in bonds (debt securities). The term “bond” includes any debt or fixed income securities. Up to 30% of its assets may be invested in below investment grade securities (commonly known as “junk bonds” or “high yield securities”). Up to 10% of the fund’s assets may be invested in non-U.S. dollar-denominated instruments, including sovereign and corporate bonds.
About AMG GW&K ESG Bond N (MGFIX)
There are 3 members of the management team with an average tenure of 2.15 years: Mary Kane (2021), Brett Kozlowski (2025), Brian McArdle (2026). 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%. AMG GW&K ESG Bond N has 180 securities in its portfolio. The top 10 holdings constitute 19.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is considered to have an ESG focus with its investment selection and management.
AMG GW&K ESG Bond N is part of the Fixed Income global asset class and is within the Taxable Bond fund group. AMG GW&K ESG Bond N has 2.5% 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 4.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 93.6% (91.1% domestic bond, 2.5% foreign bond and 0.0% convertible bond). AMG GW&K ESG Bond N has 2.0% of the portfolio in cash.
Assets Under Management
The fund has $180 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.
MGFIX 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 AMG GW&K ESG Bond N expense ratio is above average compared to funds in the Intermediate Core-Plus Bond category. AMG GW&K ESG Bond N has an expense ratio of 0.68%, which is 13% 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. AMG GW&K ESG Bond N has a portfolio turnover rate of 35%, 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, AMG GW&K ESG Bond N returned 0.3%, which earned it a grade of B, 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.
AMG GW&K ESG Bond N has a trailing yield of 4.09%, which is below the 4.29% 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.
AMG GW&K ESG Bond N Grades
Year to date, the fund has returned 0.7%, 0.0 percentage points better than the category, which translates into a grade of C. The fund has returned 3.8% over the past year (grade of D), 4.4% over the past three years (grade of D) and 0.3% per year over the past five years (grade of C) and 2.2% per year over the past 10 years (grade of B).
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MGFIX 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 |
|
| MGFIX Return (NAV) | 0.3% | 1.2% | 3.8% | 4.4% | 0.3% | 2.2% |
| MGFIX Grade | B | A | D | D | C | B |
| +/- Category | 0.0% | 0.3% | -0.2% | -0.3% | 0.0% | 0.2% |
| Intermediate Core-Plus Bond Avg | 0.3% | 0.9% | 3.9% | 4.7% | 0.3% | 2.1% |
| MGFIX Tax Cost Ratio | na | na | 1.6% | 1.5% | 1.4% | 1.6% |
MGFIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MGFIX Return (NAV) | 0.7% | 7.3% | 1.5% | 6.7% | -13.2% | -1.3% | 7.3% | 11.1% | -1.8% | 6.8% | 5.1% |
| MGFIX Grade | C | C | D | B | B | D | D | A | F | A | B |
| +/- Category | 0.0% | -0.1% | -0.8% | 0.6% | 0.2% | -0.7% | -1.3% | 2.0% | -0.9% | 2.3% | 0.8% |
| 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: | 5.9% |
| Total Risk Index: | 0.48 - Below Average |
| Category Risk Index: | 1.06 - Above Average |
| Category Risk Grade: | D (78% Rank) |
| Beta: | 1.05 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $313 Mil |
| Fund Total Assets: | $ 180 Mil |
| Share Class Type: | N |
| Portfolio Turnover: | 35% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 5.3 years | |||
| Average Tenure: 2.1 years | |||
| Managers (Year): Kane Mary (2021), Kozlowski Brett (2025), McArdle Brian (2026) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 180 |
| % in Top 10 Holdings: | 19.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 4.4% |
| Domestic Bond: | 91.1% |
| Foreign Bond: | 2.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.0% |
Purchase Information
| Fund Family: | AMG Funds |
| Phone Number: | 800-548-4539 |
| Website: | www.amgfunds.com |
| Status: | Open |
| Inception Date: | June 1, 1984 |
| Min. Initial Purchase: | $2,000 |
| 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 (%): | 0.68% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | AMG GW&K ESG Bond N |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
