- What does CULAX invest in?
- The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (including borrowings for investment purposes) in a portfolio of floating-rate securities (e.g., corporate floating-rate securities) and securities with durations of less than or equal to one year. The manager generally defines ultra-short duration securities as those with durations of less than or equal to one year.
- What is the expense ratio of CULAX?
- Calvert Ultra-Short Duration Income A (CULAX) charges an expense ratio of 0.72%. This is the annual fee deducted from fund assets to cover management and operations.
- What is CULAX's dividend yield?
- CULAX's trailing-twelve-month yield is 3.83%, calculated from the sum of dividends over the past year divided by the current price.
- Is CULAX a good long-term hold?
- CULAX is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.
- How does CULAX's daily reset work?
- CULAX rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.
- How big is CULAX?
- Calvert Ultra-Short Duration Income A (CULAX) manages $701.5M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.
