Ultra-Short Duration Bond Fund

As of 12/31/2021

Standardized Returns

  Month YTD 1 Yr. 3 Yrs. 5 Yrs. 10 Yrs.
Ultra-Short Duration Bond Fund -0.01% -0.73% -0.73% 1.75% 1.38% 1.14%
ICE BofAML 1-Year US Treasury Note Index -0.11% -0.07% -0.07% 1.55% 1.42% 0.86%
Morningstar Ultrashort Bond Category 0.00% 0.20% 0.20% 1.59% 1.60% 1.27%
Morningstar Quartile Ranking in Category----4233
Fund's Ranking / # of Funds in Peer Group----233 / 23957 / 214116 / 17552 / 89
Morningstar Rating------
Expense Ratio (Gross): 0.84%
Expense Ratio (Net): 0.55%

Calendar Year Total Returns

  2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Ultra-Short Duration Bond Fund -0.73% 2.56% 3.48% 0.80% 0.84% 1.16% 0.01% 1.20% -0.62% 2.80%
ICE BofAML 1-Year US Treasury Note Index -0.07% 1.82% 2.93% 1.86% 0.57% 0.76% 0.15% 0.18% 0.26% 0.24%

The Fund's Adviser has contractually agreed to waive fees and/or reimburse expenses to limit fund operating expenses until 4/30/22.

For most recent net asset values and year-to-date total return information, please click here.

Performance cited represents past performance. Past performance does not guarantee future results and current performance may be lower or higher than the data quoted. Returns shown assume reinvestment of dividends and capital gains. Investment returns and principal will fluctuate with market and economic conditions and you may have a gain or loss when you sell shares. For the most current month-end performance information, please call +1 800 742 7272, or visit our Web site at www.williamblairfunds.com. Class N shares are available to the general public without a sales load. Class I and Class R6 shares are available only to investors who meet certain eligibility requirements.

The BofA Merrill Lynch 1-Year U.S. Treasury Note Index is comprised of a single U.S. Treasury Note issue purchased at the beginning of the month and held for a full month. Each month the index is rebalanced and the issue selected is the outstanding U.S. Treasury Note that matures closest to, but not beyond, one year from the rebalancing date. The Index is unmanaged, does not incur fees or expenses, and cannot be invested in directly.

The Morningstar Ultrashort Bond Category represents the average annual composite performance of all mutual funds listed in the Ultrashort Bond Category by Morningstar.

On December 13, 2021, the Fund’s name changed to Ultra-Short Duration Bond Fund.