sector allocation market environment higher-yielding sectors outperformed. fund positioning (impact vs. benchmark) the fund's underweight to issuers of higher-quality state general obligation bonds contributed to performance versus the bloomberg 1-17 year municipal bond index. (positive) an overweight to...
u.s. investment-grade corporate bonds and agency mortgage-backed securities. fund positioning (impact vs. benchmark) overall, sector allocation had a positive performance impact versus the benchmark bloomberg u.s. aggregate bond index. an overweight in the corporate bonds of financial institutions co...