World bond fund is part of taxable bond fund family. One of the best world bond funds is Dreyfus International Bond A fund. This fund has an outstanding performance for the past 5 years. It hasn't recorded any negative return for 1 year performance. The following is the fund's review.
Dreyfus International Bond A (Ticker: DIBAX)
Dreyfus International Bond A (Ticker: DIBAX)
Similar to previous Templeton Global Bond Fund, the Dreyfus International Bond fund is categorized as World Bond mutual fund. This Dreyfus International Bond fund objective is to maximize total return through capital appreciation and income. The fund mainly invests most of net assets (>80%) in fixed-income securities. This DIBAX fund also invests >65% of assets in non-U.S. dollar denominated fixed-income securities of foreign governments and companies located in various countries, including emerging markets. The fund may invest <25% of assets in emerging markets and <5% of assets in any single emerging market country. This fund is considered as non-diversified mutual fund.
DIBAX Fund Details
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| Dreyfus International Bond fund |
- Fund Inception Date: December 2005
- Ticker Symbol: DIBAX (Class A)
- CUSIP: 261980684
- Beta (3yr): 1.38
- Rank in category (YTD): 56
- Category: World Bond
- Yield: 1.92%
- Expense Ratio: 1.09%
- Net Assets: $950 million
- Sales Load: 4.50%
- Capital Gains: N/A
- Number of Years Up: 5 years
- Number of Years Down: 0 years
- Average Duration: 5.22 years
- Average Maturity: 8.83
- Annual Turnover Rate: 153.7%
This Dreyfus fund’s lead managers are David Leduc and Brendan Murphy. David Leduc is the fund’s portfolio manager for the Global Credit Strategies and a Spread sector Strategies for Non-US and Global Fixed Income. He has been the lead manager of this fund since August 2006. If you are interested to invest in this fund, there is no 12b1 fee, but it does charge 4.25% sales-load fee. The current yield of this fund is 1.92%. The last dividend distributed in May 2011 is $0.073 (0.42%). The expense ratio of this DIBAX fund is 1.09% per year. This expense ratio is lower than the average in the category which is 1.13%. The fund also has total net assets of $950 million.
The fund has returned 9.81% over the past three years and 9.70% over the past five years. The best 1-year total return was in 2009 with 17.44%. The worst 1-year total return was in 2006 with 6.64%. This fund has received the highest 5-stars rating from Morningstar for its 5 years in positive return and 0 years in negative return.
The minimum initial investment for brokerage account is $1,000 and $750 for IRA account. The minimum subsequent investment for brokerage account is $100. DIBAX can be bought from 121 brokerages include JP Morgan, Northwestern Mutual, Merrill Lynch, Edward Jones, Nationwide Retirement Innovator, Fidelity Retail FundsNetwork, Morgan Stanley, Met Life Resources MFSP Alliance List, etc. The other classes of this DBIAX are DIBCX (Dreyfus International Bond C – Class C), and DIBRX (Dreyfus International Bond Institutional – Class I). The DIBRX fund has only 0.82% expense ratio and there is no sales load.
As of June 2011, this DIBAX fund has 179 holdings. The asset mix is as follow: Non US Government (45.3%), Securitized (18.7%), Investment Grade Corporate (14%), EMD (10.1%), High Yield Corporate (6.1%), Cash & Equivalent (4.4%), and US Government (1.4%).
Disclosure: No Position
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