Domini Impact Bond FundSM

Fixed-income investments are particularly well-suited for addressing a wide range of economic disparities in our society. The Domini Impact Bond FundSM seeks to help build healthy and vibrant communities by directing capital to where it is needed most, while providing its shareholders with a high level of current income and total return.


Net Assets as of 09/30/22

Fund: $230.1 million
Investor shares:  $125.3 million

Daily Price (NAV)

$10.01

Daily NAV Change

$0.03
(0.30%)

Adviser

Domini Impact Investments LLC

Subadviser

Wellington Management Company LLP

Inception Date

6/1/00

Symbol

DSBFX

Portfolio Manager

Goodman Campe

Annual Expense Ratio1

Gross: 1.08%/Net: 0.87%
Per current prospectus

Front-End Sales Charge (Load)

None

Minimum Initial Investment

$2,500 for standard accounts
$1,500 for retirement accounts, custodial and educational accounts, and standard accounts opened with an automatic investment plan

Investment Strategy

The Fund invests in a portfolio of primarily investment-grade fixed-income securities, including U.S. Government agency bonds, corporate debt, and mortgage- and other asset-backed securities. The Fund maintains an effective duration within two years (plus or minus) of the portfolio duration of the securities comprising the Bloomberg U.S. Aggregate Bond Index. It is managed through a two-step process designed to capitalize on the strengths of Domini Impact Investments and Wellington Management.


Guided by our Impact Investment Standards, Domini sets environmental and social guidelines and objectives for each asset class and creates an approved list of securities based on our in-depth environmental and social research and analysis. Wellington constructs and manages a portfolio of Domini-approved securities using proprietary analytical tools.

The Fund may change any of the policies described above at any time.

Investor Shares Performance

FundYTD1 YR3 YR*5 YR*10 YR*
DSBFX-17.56-17.60-3.53-0.460.55
Bloomberg U.S. Aggregate Bond Index-15.72-15.68-3.77-0.540.74
Month-End Returns (%) as of 10/31/2022
FundYTD1 YR3 YR*5 YR*10 YR*
DSBFX-16.00-16.02-2.86-0.080.74
Bloomberg U.S. Aggregate Bond Index-14.61-14.60-3.25-0.270.89
Quarter-End Returns (%) as of 09/30/2022
YearDSBFXBUSA
2021-0.84-1.54
202010.067.51
20199.148.72
2018-0.910.01
20173.853.54
20163.442.65
2015-0.460.55
20143.745.97
2013-1.97-2.02
20122.504.21
Calendar Year Returns (%)
QuarterDSBFXBUSA
Q3 2022-4.45-4.75
Q2 2022-5.94-4.69
Q1 2022-6.54-5.93
Q4 2021-0.030.01
Q3 2021-0.040.05
Quarterly Returns (%)

* Average annual total returns.
Returns for periods less than one year are not annualized.

The Fund’s current investment strategy and Subadviser services commenced on January 7, 2015. Performance information for periods beginning prior to January 7, 2015 reflects the investment strategies employed during those periods.

1. The Fund’s Adviser has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses in order to limit Investor share expenses to 0.87% through November 30, 2023. There can be no assurance the Adviser will extend the expense limitations beyond such time. While in effect, the arrangement may be terminated for a class only by agreement of the Adviser and the Fund’s Board of Trustees.

Annual Expense Ratio – Gross: 1.08% / Net: 0.87%. Per current prospectus.

Past performance is no guarantee of future results. The Fund’s returns quoted above represent past performance after all expenses. The returns reflect any applicable expense waivers in effect during the periods shown. Without such waivers, Fund performance would be lower. Investment return, principal value, and yield will fluctuate. Your shares, when redeemed, may be worth more or less than their original cost. See the Performance tables above for more complete performance information, including returns current to the most recent month-end, which may be lower or higher than the performance data quoted. See the prospectus for further information.

An investment in the Domini Impact Bond Fund is not a bank deposit and is not insured. The Fund is subject to certain risks, including the loss of principal, impact investing, portfolio management, style, information, market, interest rate, and credit risks. See the prospectus for more information on risk.

The performance above does not reflect the deduction of fees and taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Total return is based on the Fund’s net asset values and assumes all dividends and capital gains were reinvested.

Although the Domini Impact Bond Fund Investor shares are no-load, certain fees and expenses apply to a continued investment and are described in the prospectus.

The Bloomberg U.S. Aggregate (BUSA) Bond Index is an index representing securities that are U.S. domestic, taxable, and dollar denominated and covering the U.S. investment-grade fixed-rate bond market, with index components for government and corporate securities and asset-backed securities. Investors cannot invest directly in the BUSA.

Holdings

Security NameWeight (%)
Fannie Mae Notes 08/30 0.8752.38
FNMA TBA 30 Yr 4.5 Single Family Mortgage2.28
FNMA TBA 30 Yr 4.5 Single Family Mortgage2.28
FNMA TBA 30 Yr 2.5 Single Family Mortgage2.12
FNMA TBA 30 Yr 2.5 Single Family Mortgage2.12
FNMA TBA 30 Yr 4 Single Family Mortgage2.05
Freddie Mac Notes 02/25 1.52.03
Fed Home Loan Discount Note 11/22 0.000001.94
Fed Home Loan Discount Note 12/22 0.000001.93
Fed Home Loan Discount Note 12/22 0.000001.93
Total21
Top Ten Holdings as of 10/31/2022
SectorWeight (%)
Mortgage-Backed Securities30.8
Investment-Grade Credit28.5
U.S. Government Agency Obligations18.2
Commercial Mortgage-Backed Securities11.3
Developed Non-U.S. Dollar Denominated4.5
Emerging Market Debt2.0
High-Yield Credit1.6
Bank Loans1.3
Asset-Backed Securities0.9
Tax-Exempt Municipal0.5
Convertible Bonds0.3
Preferred Stock0.2
Total100
Sector Distribution as of 09/30/2022
Credit QualityWeight (%)
AAA/Aaa16.5
AA/Aa49.4
A9.3
BBB/Baa11.9
BB/Ba4.4
B1.4
CCC/Caa or Lower0.1
Not Rated36.8
Total100
Credit Quality Distribution 2 as of 6/30/2022

2. Credit quality ratings are the opinions of Standard & Poor’s Rating Services, a division of McGraw-Hill Companies,Inc. (Standard & Poor’s), and Moody’s Investors Service, Inc. (Moody’s) for the underlying securities of the Fund, and typically range from AAA/Aaa (highest) to C/D (lowest). If Standard & Poor’s and Moody’s assign different ratings, the lower rating is used.

3. Securities that are not rated by either agency are listed as “Not Rated.” Ratings do not apply to the Fund itself or to Fund shares. Ratings may change.

The composition of the Fund’s portfolio is subject to change. The Domini Funds maintain portfolio holdings disclosure policies that govern the timing and circumstances of disclosure to shareholders and third parties of information regarding the portfolio investments held by the Funds.

Portfolio Characteristics†

CharacteristicFundBUSA4
Number of Holdings45812,660
Number of Issuers2081,083
Effective Duration6.866.35
Yield to Maturity5.79%4.72%
Years to Maturity9.338.52
Yield to Worst5.79%4.72%
Years to Worst9.328.51
SEC 30-Day Yield (Investor shares)‡3.28%
Portfolio Characteristics as of 9/30/2022

4. Bloomberg U.S. Aggregate Bond Index

† Source: Wellington Management Company LLP, as calculated by its proprietary portfolio management system, except as noted by ‡. All characteristics are as of September 30, 2022.

‡ SEC 30-Day Yield is a current yield calculation for bond funds. It is calculated using an SEC-standardized formula and is based on the maximum offer price per share.

Quick Links

Investor Profile


Fund Distributions

Dividends
Accumulated daily, distributed monthly

Capital Gains
Distributed annually

Who should invest?

  • Investors seeking a high level of current
  • Investors seeking exposure to the bond market to diversify their portfolio
  • Investors committed to the Fund’s impact investment standards

Who Should not invest?

  • Investors unwilling or unable to accept fluctuations in share price due to risks associated with the bond market

Related Blog Post

Definitions

Effective Duration is the market-value-weighted average of the effective duration of all securities, which is a measure of bond price sensitivity to the change in interest rates.

Yield to Maturity is the sum of the total return expected on all securities when held to maturity.

Years to Maturity is the market-value-weighted average of the time until the securities mature.

Yield to Worst is the sum of the total return expected on all securities in a worst-case call scenario.

Years to Worst is the market-value-weighted average of the time until the earliest date the securities can be called.

“Bloomberg®” and the BUSA are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Domini Impact Investments LLC (“Domini”). Bloomberg is not affiliated with Domini, and Bloomberg does not approve, endorse, review, or recommend the Fund. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Fund.