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Extended Duration Fixed Income

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About Extended Duration Fixed Income
A fundamental, active, valuation-centric strategy focused on capturing a yield advantage while protecting the downside by investing in the long duration U.S. Treasury STRIPS market.

The strategy, managed by a team with deep experience investing together, utilizes the full breadth of the firm’s fundamental research capabilities to identify companies across the market cap spectrum in order to exploit inefficiencies resulting in a differentiated portfolio.

Investment Process

Investment Objective:

Seeks to outperform the Bloomberg U.S. Treasury STRIPS 20+ Index over a full market cycle.

Investment Overview:

We believe that by using our proprietary total return models we can take advantage of pricing anomalies in the long-dated STRIPS market while staying duration-neutral to the benchmark. By investing in undervalued securities with above-average total return potential, the strategy is well positioned to generate above-average returns over the longterm, while minimizing volatility, and therefore, downside risk. We seek to preserve the natural advantage of STRIPS and to promote stability of the asset class.

Strategy Summary

as of 9/30/2024
date format is m/dd/yyyy
Asset Class
US Fixed Income
Investment Style
Bottom-Up Security Selection
Portfolio Benchmark
Bloomberg U.S. Treasury STRIPS 20+
Separate Account
Open

Additional Information

No items found.
Active Value
2023 Extended Duration Fixed Income Composite GIPS® Disclosures

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Characteristics

as of 9/30/2024
date format is m/dd/yyyy
BH EXT
Bloomberg U.S. Treasury STRIPS 20+
Average Quality
Aa1
Aa1
Effective Duration (Yrs)
24.12
25.47
Maturity (Yrs)
23.71
25.39
YTW (%)
4.34
4.34

Performance

Annualized Returns as of 9/30/2024
date format is m/dd/yyyy
Qtr*
1 Year
3 Year
5 Year
10 Year
BH Extended Duration Fixed Income - Gross Returns
10.05%
18.81%
-13.17%
-7.38%
0.70%
BH Extended Duration Fixed Income- Net Returns
10.01%
18.63%
-13.29%
-7.51%
0.55%
Bloomberg U.S. Treasury STRIPS 20+
10.22%
18.45%
-13.76%
-7.61%
0.54%

* Most recent quarter returns are not annualized. Past performance is not indicative of future results. The value of an investment can go down as well as up as a result of market and currency fluctuations.

Portfolio Characteristics

as of 3/31/2023
Portfolio
Bloomberg US Treasury STRIPS 20+
No items found.

Performance

Annualized Portfolio Returns as of 3/31/2023
Qtr*
1 Year
3 Year
5 Year
10 Year
No items found.
No items found.
No items found.

* Most recent quarter returns are not annualized. Past performance does not guarantee future results and there is no assurance that the Strategy will achieve its investment objective.

Disclosure

Sources for data noted above are from APX, BondEdge and Bloomberg Index Services Limited as of the date specified. Material presented is based on the composite and not an individual account.

Barrow Hanley gross returns are shown before investment management fees and custody expenses. Index returns do not reflect transaction costs, management fees, and other expenses. Performance is expressed in U.S. currency. Net returns are calculated using a model fee. The model fee is based on the highest tier of a previous standard fee schedule.  Barrow, Hanley, Mewhinney & Strauss, LLC claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
‍
Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg’s licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

All institutional product information has been provided by Barrow, Hanley, Mewhinney & Strauss, LLC. Any questions about this material or requests for additional information may be made directly to the firm by contacting us here.

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