WHTXX

Heritage Money Market Fund

$1.0002
NAV
+$0.0000 / +0.00%
$1,705.3M
Fund assets
5.01%
7-day current yield
6/29/1995
Fund inception date
Data as of 7/22/2024
Fund overview
Prioritizing liquidity and capital preservation
The Heritage Money Market Fund seeks current income while preserving capital and liquidity by investing in high-quality, short-term, U.S.-dollar-denominated money market instruments of domestic and foreign issuers.

The long-tenured team of portfolio managers and traders follows a well-defined investment process that has evolved over more than 20 years of money market fund management.

Key differentiators

  • Actively manages funds, prioritizing investors’ need for liquidity, capital preservation, and competitive yield
  • Implements a bottom-up security selection process driven by fundamental research and relative value recommendations
  • Uses proprietary risk models, including both quantitative and qualitative factors, to identify opportunities and manage risks

General facts

Ticker

WHTXX

CUSIP

949921233

Fund number

3655

Minimum investment

$100,000

Weight average maturity

6 Days

Weighted average life

8 Days

Gross expense ratio

0.53%

Net expense ratio

0.43%

Type of money fund

Prime

Standard & Poor's rating (as of 6/30/2024)

AAAm

Moody's rating (as of 6/30/2024)

Aaa-mf

Performance

Average annual returns

Average annual returns

(as of 6/30/2024)
6/29/1995
1M
3M
YTD
1Y
3Y
5Y
10Y
Inception
Fund
0.41
1.25
2.53
5.23
3.00
2.05
1.40
2.34
Lipper Instl Money Market Funds
0.41
1.24
2.48
5.12
2.91
2.00
1.40
-
Expenses (as of 6/1/2024)
Gross Expense Ratio
0.53 %
Net Expense Ratio
0.43 %

One-month, three-month and year-to-date returns are not annualized.

Figures quoted represent past performance, which is no guarantee of future results, and do not reflect taxes that a shareholder may pay on an investment in a fund. Yields will fluctuate. Current performance may be lower or higher than the performance data quoted and assumes the reinvestment of dividends and capital gains.

Net asset value (NAV) is the value of one share of the fund excluding any sales charges.

Money market funds are sold without a front-end sales charge or contingent deferred sales charge. Other fees and expenses apply to an investment in the Fund and are described in the fund's current prospectus.

The manager has contractually committed, through 5/31/2025, to waive fees and/or reimburse expenses to the extent necessary to cap the fund's total annual fund operating expenses after fee waivers at 0.43%. Brokerage commissions, stamp duty fees, interest, taxes, acquired fund fees and expenses (if any), and extraordinary expenses are excluded from the expense cap. The manager may also voluntarily waive or reimburse additional fees and expenses, and such voluntary waivers may be discontinued or modified at any time without notice. Without these reductions, the fund's seven-day current yield would have been 4.89%. Prior to or after the commitment expiration date, the cap may be increased or the commitment to maintain the cap may be terminated only with the approval of the Board of Trustees. The expense ratio paid by an investor is the net expense ratio (the total annual fund operating expenses after fee waivers) as stated in the prospectus.

Calendar year

Calendar year

(as of 12/31/2023)
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
Fund
4.96
1.52
0.02
0.41
2.02
1.71
0.79
0.17
0.01
0.01
Benchmark
4.85
1.49
0.03
0.46
2.15
1.82
0.82
0.29
0.05
0.02

Yield summary

Yields

Yield (as of 7/22/2024) Statistic
Daily factor 0.000137062
1-day yield 5.00%
7-day current yield 5.01%
7-day current unsubsidized yield 4.89%
7-day effective yield 5.13%
30-day current 5.01%
30-day effective 5.13%
Daily weighted average maturity 3 Days

The 7-day current yield is an annualized net yield that describes the annualized income earned over a 7-day period.

The 7-day effective yield is annualized net yield that describes the amount one is expected to earn over a 1-year period assuming that dividends are reinvested at the average rate of the last 7-days.

Composition

Maturity

Portfolio maturity schedule (%)

(as of 6/30/2024)
Maturity Range
WAL
WAM
1-7 days
84.00% 87.00%
8-29 days
12.00% 10.00%
30-89 days
3.00% 3.00%

Maturity distribution is subject to change and may have changed since the date specified. Percent total may not add to 100% due to rounding.

Holdings

Top 10 holdings

(as of 6/30/2024)
Security
Fund
MUFG Securities Canada Ltd
9.47%
Barclays Bank Plc
8.42%
Wells Fargo Securities, LLC
8.42%
J.P. Morgan Securities LLC
8.42%
Standard Chartered Bank Government Repo
6.31%
RBC Dominion Securities
4.45%
Deutsche Bank Securities Inc. (Government Repo).
4.21%
Bank America N.A.
4.21%
Canadian Imperial Bank of Commerce
2.74%
Credit Agricole Corporate & Investment Bank
2.10%
Top 10 represents 58.73% of total net assets
Portfolio composition

Portfolio composition

(as of 6/30/2024)
Credit Assets
Allocation
Asset backed CP
20.00%
Certificate of deposit
9.00%
Government agency repo
54.00%
Non-Negotiable time deposit
6.00%
Non-U.S. sovereign, sub-sovereign and supra-national debt
1.00%
Other instrument
1.00%
Tender option bond
1.00%
Variable rate demand note
7.00%

Portfolio composition and maturity distribution are subject to change and may have changed since the date specified. Percent total may not add to 100% due to rounding

Documents

Literature Details Frequency
Fact Sheet Service Monthly Download
Regulatory Document Details Date
Annual Report Select, Service, Institutional, Administrator 1/31/2024 Download
Full Prospectus Service 6/1/2024 Download
Semi-annual Report Select, Service, Institutional, Administrator 7/31/2023 Download
Statement of Additional Information Select, Service, Institutional, Administrator 6/1/2024 Download
Summary Prospectus Service 6/1/2024 Download
Our team
Meet the investment team

The team philosophy adheres to disciplined active management to provide clients with consistent, competitive risk-adjusted returns to meet their liquidity needs.

Contact Us

We look forward to helping you with your investment needs

 

You could lose money by investing in the Fund. Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon sale of your shares. An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.

Weighted average maturity (WAM): An average of the effective maturities of all securities held in the portfolio, weighted by each security’s percentage of total investments. The maturity of a portfolio security is the period remaining until the date on which the principal amount is unconditionally required to be paid, or in the case of a security called for redemption, the date on which the redemption payment is unconditionally required to be made. WAM calculations allow for the maturities of certain securities with demand features or periodic interest-rate resets to be shortened. WAM is a way to measure a fund’s sensitivity to potential interest-rate changes. WAM is subject to change and may have changed since the date specified.
 

Weighted average life (WAL): An average of the final maturities of all securities held in the portfolio, weighted by their percentage of total investments. The maturity of a portfolio security is the period remaining until the date on which the principal amount is unconditionally required to be paid, or in the case of a security called for redemption, the date on which the redemption payment is unconditionally required to be made. The calculation of WAL allows for the maturities of certain securities with demand features to be shortened but, unlike the calculation of WAM, does not allow shortening of the maturities of certain securities with periodic interest-rate resets. WAL is a way to measure a fund’s potential sensitivity to credit spread changes. WAL is subject to change and may have changed since the date specified.