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Intermediate Duration Bond Fund

The Intermediate Duration Bond Fund seeks above-average total return through a combination of current income and capital appreciation
Total Assets $243.7 million As of 11/30/2025
Asset Class Fixed
Daily YTD Return 6.85% As of 12/26/2025
Inception Date 1/28/1998

Overview

Fund Details

Primary Benchmark
Bloomberg US Intermediate Government/Credit Bond Index
Lipper Category
Intermediate Investment Grade Debt Funds
Morningstar Category
Short-Term Bond

Portfolio Managers

Chris Harms

Portfolio Manager, Co-Head of Relative Return

45 yearsIndustry Experience
15 yearsTenure at Loomis Sayles

Cliff Rowe, CFA

Portfolio Manager

33 yearsIndustry Experience
33 yearsTenure at Loomis Sayles

Daniel Conklin, CFA

Portfolio Manager

15 yearsIndustry Experience
13 yearsTenure at Loomis Sayles

Fund Facts

As of 11/30/2025
Ticker LSDIX
Class Inception Date 1/28/1998
CUSIP 543495709
Minimum Initial Investment $100,000
Gross Expense Ratio1 0.48%
Net Expense Ratio1 0.40%
Net Asset Value 9.69
30-Day SEC Yield2 3.86%
Unsubsidized 30-Day SEC Yield2 3.72%

About the Team

Relative Return

A comprehensive fixed income platform powered by seasoned investors and focused, benchmark aware investment strategies.

$135.4B assets under management (as of 9/30/2025)
View All Documents

Our Performance data shown represents past performance and is no guarantee of future results. Investment return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, please see the tab labeled “Performance”.

Why Choose this Fund?

  • As an intermediate-term investment grade fund that seeks to add value from all major sectors of the fixed income markets
  • To pursue strong returns based on security and sector selection while seeking to mitigate interest rate risk
  • To seek above-average total return through a combination of current income and capital appreciation

Investment Strategy

  • Individual investment ideas are evaluated on the basis of their investment return potential and contribution to portfolio risk
  • Top-down macro analysis combined with bottom-up security selection helps drive portfolio construction
  • Securities must be rated investment grade at the time of purchase
  • Weighted average duration of the portfolio is generally 2-5 years, and is managed within a close range to the index
  • All investments must be US dollar denominated

About Risk

  • Fixed income securities may carry one or more of the following risks: credit, interest rate (as interest rates rise bond prices usually fall), inflation and liquidity.
  • Mortgage-related and asset-backed securities are subject to the risks of the mortgages and assets underlying the securities. Other related risks include prepayment risk, which is the risk that the securities may be prepaid, potentially resulting in the reinvestment of the prepaid amounts into securities with lower yields.
  • Foreign and emerging market securities may be subject to greater political, economic, environmental, credit, currency and information risks. Foreign securities may be subject to higher volatility than US securities due to varying degrees of regulation and limited liquidity. These risks are magnified in emerging markets.
  • Below investment grade fixed income securities may be subject to greater risks (including the risk of default) than other fixed income securities.

Performance

Cumulative Total Return (%)
As of 11/30/2025
Class Y Return
3 Months 1.49%
Year-To-Date 6.80%
Annualized Total Return (%)
As of 11/30/2025
Class Y Return
1 Year 6.17%
3 Years 5.46%
5 Years 1.20%
10 Years 2.61%
Since Inception 4.20%
Inception Date 1/28/1998
Cumulative Total Return (%)
As of 9/30/2025
Class Y Return
3 Months 1.62%
Year-To-Date 5.71%
Annualized Total Return (%)
As of 9/30/2025
Class Y Return
1 Year 4.28%
3 Years 5.70%
5 Years 1.10%
10 Years 2.48%
Since Inception 4.19%
Inception Date 1/28/1998

Performance data shown represents past performance and is no guarantee of future results. Total return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns include changes in share price and reinvestment of dividends and capital gains, if any.

Effective August 31, 2016, the Fund’s Institutional Class shares were redesignated as Class Y shares. Accordingly, the returns shown in the table for Class Y shares prior to August 31, 2016 are those of Institutional Class shares.

The Fund revised its investment strategies on May 28, 2010; performance may have been different had the current investment strategies been in place for all periods shown.

Rankings

Lipper Ranking
As of 11/30/2025
Class Y Rank Percentile
1 Year 107/509 21%
3 Years 95/489 19%
5 Years 20/444 5%
10 Years 50/352 14%
Lipper Category: Intermediate Investment Grade Debt Funds
Morningstar Ranking
As of 11/30/2025
Class Y Rank Percentile
1 Year 71/554 13%
3 Years 240/530 45%
5 Years 451/500 90%
10 Years 116/383 30%
Morningstar Category: Short-Term Bond

Lipper rankings are based on total returns calculated by each ranking entity. Rankings do not take into account sales charges, if applicable, but include reinvestment of dividends and capital gains, if any.

Morningstar Percentile Rankings are based on total return and do not account for sales charges. Percentile ranks are based on absolute rank within specific fund categories and time periods. Within a category, all funds’ percentile rankings range from 1 (best) to 100 (worst), with all intermediate values spread evenly over that range. The fund’s absolute peer ranking may not be available for all time periods. Morningstar does not calculate an absolute peer ranking when a fund’s performance has been linked to a preexisting share class.

Past performance is no guarantee of future results.

Characteristics

Characteristics
As of 11/30/2025
Number of Holdings 562
Average Maturity 3.78
Weighted Average Duration 3.71
Annual Portfolio Turnover as of 9/30/2024 131.87%
Credit Quality
As of 11/30/2025
US Treasurys 24.4%
AAA 19.4%
AA 11.6%
A 20.1%
BAA 20.7%
BA 0.2%
B 0.1%
CAA & Lower 0.1%
Not Rated 1.7%
Cash & Equivalents 1.6%
Duration Distribution
As of 11/30/2025
Less than 1 Yr. 8.7%
1 to 3 Yrs. 24.6%
3 to 5 Yrs. 47.6%
5 to 7 Yrs. 5.5%
7 to 10 Yrs. 11.8%
10 Yrs. or more 0.3%
Cash & Equivalents 1.6%
Maturity Distribution
As of 11/30/2025
Less than 1 Yr. 11.9%
1 to 3 Yrs. 23.1%
3 to 5 Yrs. 48.8%
5 to 7 Yrs. 6.0%
7 to 10 Yrs. 8.1%
10 Yrs. or more 0.4%
Cash & Equivalents 1.6%

Sector Distribution

As of 11/30/2025
LabelFund
Investment Grade Corporate 47.5%
US Treasurys 24.4%
Securitized Credit 24.1%
Securitized Agency 1.8%
Government Related 0.3%
High Yield Corporate 0.3%
Cash & Equivalents 1.6%

Country Distribution

As of 11/30/2025
LabelFund
United States 85.2%
Canada 3.6%
United Kingdom 2.3%
Japan 1.9%
Germany 1.4%
Sweden 0.9%
Netherlands 0.6%
France 0.6%
Australia 0.5%
Other 3.0%
Characteristics
As of 9/30/2025
Characteristic Fund Index
Number of Holdings 561 6381
Average Maturity 3.82 4.18
Weighted Average Duration 3.73 3.69
Annual Portfolio Turnover as of 9/30/2024 131.87%
Credit Quality
As of 9/30/2025
Fund Index
US Treasurys 25.0% 64.8%
AAA 19.4% 3.3%
AA 10.7% 6.3%
A 21.0% 13.7%
BAA 20.9% 12.0%
BA 0.0% 0.0%
B 0.1% 0.0%
CAA & Lower 0.2% 0.0%
Not Rated 1.7% 0.0%
Cash & Equivalents 1.1% 0.0%
Duration Distribution
As of 9/30/2025
Fund Index
Less than 1 Yr. 8.6% 2.6%
1 to 3 Yrs. 25.2% 40.5%
3 to 5 Yrs. 47.7% 29.6%
5 to 7 Yrs. 4.7% 19.8%
7 to 10 Yrs. 12.4% 7.6%
10 Yrs. or more 0.3% 0.0%
Cash & Equivalents 1.1% 0.0%
Maturity Distribution
As of 9/30/2025
Fund Index
Less than 1 Yr. 12.2% 1.9%
1 to 3 Yrs. 24.9% 38.6%
3 to 5 Yrs. 46.4% 27.7%
5 to 7 Yrs. 5.6% 16.4%
7 to 10 Yrs. 9.0% 15.4%
10 Yrs. or more 0.8% 0.0%
Cash & Equivalents 1.1% 0.0%

Sector Distribution

As of 9/30/2025
LabelFundIndex
Investment Grade Corporate 47.2%29.1%
US Treasurys 25.0%64.8%
Securitized Credit 24.3%–
Securitized Agency 1.9%–
Government Related 0.6%4.8%
US Agency –1.0%
Municipals –0.2%
Cash & Equivalents 1.1%–

Country Distribution

As of 9/30/2025
LabelFundIndex
United States 83.7%90.5%
Canada 3.3%1.6%
United Kingdom 3.1%1.4%
Japan 2.0%0.9%
Germany 1.6%0.6%
France 0.9%0.1%
Sweden 0.9%0.1%
Netherlands 0.6%0.2%
Australia 0.6%0.3%
Other 3.3%4.4%

Holdings

Top 10 Holdings
As of 11/30/2025
Holding % of Assets
U S TREASURY 24.4%
MORGAN STANLEY 1.3%
FEDERAL HOME LOAN MORTGAGE CORP 0.9%
BANK5 TRUST 0.8%
SANTANDER DRIVE AUTO REC TR 0.8%
FORDR 2014-1 A 0.8%
JPMORGAN CHASE & CO 0.8%
WLAKE 2014-1A C 0.7%
GOLDMAN SACHS GROUP INC/THE 0.6%
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 0.6%
Total 31.8%
Top 10 Holdings
As of 9/30/2025
Holding % of Assets
U S TREASURY 25.0%
MORGAN STANLEY 1.0%
JPMORGAN CHASE & CO 1.0%
FEDERAL HOME LOAN MORTGAGE CORP 0.9%
BANK5 TRUST 0.8%
FORDR 2014-1 A 0.8%
SANTANDER DRIVE AUTO REC TR 0.7%
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 0.7%
GOVT NATL MTG ASSN 0.7%
WLAKE 2014-1A C 0.6%
Total 32.2%

Documents

1As of the most recent prospectus, the investment advisor has contractually agreed to waive fees and/or reimburse expenses (with certain exceptions) once the expense limitation of the fund has been exceeded. This arrangement is set to expire on 1/31/26. When an expense limitation has not been exceeded, the fund may have similar expense ratios and/or yields.

2The 30-day SEC yield is a standardized calculation, calculated by dividing the net investment income per share for the 30-day period by the maximum offering price per share at the end of the period and annualizing the result. Treasury Inflation-Protected Securities (TIPS) are designed to provide protection against inflation through monthly adjustments to the principal value of TIPS, which increases with inflation and decreases with deflation as measured by the Consumer Price Index. Monthly principal adjustments for inflation (increases and decreases) are excluded from the 30-day SEC yield calculation. Such adjustments can vary substantially from one month to the next, and if they were included, may materially impact the 30-day SEC yield either higher or lower. A subsidized 30-day SEC yield reflects the effect of fee waivers and expense reimbursements. The SEC yield is not based upon distributions of the fund and actual income distributions may be higher or lower than the 30-day SEC yield amounts. During periods of unusual market conditions and/or activity in the sales or redemptions of fund shares, the fund’s 30-day SEC yield amounts may be materially higher or lower than its actual income distributions. Unsubsidized 30-day SEC yield is calculated using the gross expenses of the fund. Gross expenses do not include any fee waivers or reimbursement.

Important Disclosures

Investing involves risk, including possible loss of principal.

There is no guarantee that the investment objective will be realized or that the fund will generate positive or excess return.

Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents.

Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest).

Cash & Equivalents reflects unsettled trades, fees and/or derivatives. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality Distribution totals may not equal 100%. Both duration and maturity for equity securities are deemed to be zero. Top 10 holdings may not be representative of current or future holdings and will evolve over time.

The Bloomberg US Intermediate Government/Credit Bond Index includes securities which have a remaining maturity of 1-10 years and includes Treasuries (public obligations of the US Treasury that have remaining maturities of more than one year) and agencies (publicly issued debt of US Government agencies, quasi-federal corporations and corporate or foreign debt guaranteed by the US Government), as well as other publicly issued investment grade corporate and non-corporate debentures that meet specified maturity, liquidity, and quality requirements. Indexes are unmanaged. It is not possible to invest directly in an index.

Lipper Analytical Services Inc., a Thomson Reuters Company, is a nationally recognized organization that provides performance information for mutual funds. Copyright 2025 © Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content is expressly prohibited without the prior written consent of Lipper. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

© 2025 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. 

Class N shares of the Fund are subject to a $1,000,000 initial investment minimum. There is no initial investment minimum for Certain Retirement Plans and funds of funds that are distributed by Natixis Distribution, LLC (the “Distributor”).

Before investing, consider the fund’s investment objectives, risks, charges, and expenses. You may obtain a prospectus or a summary prospectus containing this and other information on this website. Read it carefully.

Natixis Distribution, LLC (fund distributor, member FINRA|SIPC) and Loomis, Sayles & Company, L.P. are affiliated.

Loomis Sayles Funds | 800.633.3330