Morningstar

Ambrus Tax-Conscious National Bond Fund Institutional Class

Morningstar Medalist Rating
Medalist Rating as of | See Ambrus Funds Investment Hub
  • NAV / 1-Day Return 9.69  /  0.00
  • Total Assets 500.6M
  • Adj. Expense Ratio
    0.510%
  • Expense Ratio 0.500%
  • Distribution Fee Level Above Average
  • Share Class Type Institutional
  • Category Short-Term Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 10,000
  • Status Open
  • TTM Yield 4.08%
  • Effective Duration —

USD | NAV as of Oct 03, 2026 | 1-Day Return as of Oct 03, 2026, 12:50 AM GMT+0

Morningstar’s Analysis TCNBX

Will TCNBX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable TCNBX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the TCNBX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of TCNBX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Ambrus Tax-Conscious Natl Bd Inst holds a quantitatively derived Negative Morningstar Medalist Rating. The rating indicates the model sees limited potential for the strategy to outperform peers on a risk-adjusted basis over a full market cycle.

by Morningstar Automated Analysis
Rated on Published on

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Portfolio Holdings TCNBX

More TCNBX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 12.2
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

BNY Dreyfus Govt Cash Mgmt Instl

1.98 9M
Cash and Equivalents

United States Treasury Notes 0.5%

1.91 9M
Government

United States Treasury Notes 3.5%

1.62 8M
Government

MINNESOTA MUN GAS AGY GAS PROJ REV 5%

1.47 7M
municipal

State Street® SPDR® Port Hi Yld Bd ETF

1.07 5M
—

PARKER CNTY TEX 5%

1.07 5M
municipal

TEXAS MUN GAS ACQUISITION & SUPPLY CORP III GAS SUPPLY REV 5%

1.05 5M
municipal

HUDSON YDS INFRASTRUCTURE CORP N Y SECOND INDENTURE REV 5%

1.03 5M
municipal

TOLEDO OHIO WTRWKS REV 5%

1.01 5M
municipal

LAS VEGAS NEV CONVENTION & VISITORS AUTH CONVENTION CTR EXPANSION REV 5.25%

0.98 5M
municipal

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