Overview

The Brown Advisory Sustainable Bond Fund seeks to provide a competitive total return consistent with preservation of principal while giving special consideration to certain sustainable investment criteria.​

We believe that an active and dynamic approach to asset allocation and holistic risk management, combined with rigorous bottom-up security selection and a differentiated sustainable investment approach, can deliver attractive risk- adjusted returns through the economic cycle. The Fund may invest in corporate, municipal, mortgage-backed and asset-backed fixed income securities that are issued as “Green Bonds” or that otherwise meet the Fund’s sustainability-related criteria. ​

Our investment philosophy is grounded in the following principles.​

Total Return Over An Economic Cycle

  • An active and flexible approach that allocates to liquid fixed income asset classes that we believe have the highest alpha potential, with a strong emphasis on relative value, rather than index weightings.​

Diversification

  • The portfolio is designed so that no single position dominates performance, while seeking idiosyncratic opportunities across sectors and industries that may contribute to performance.​

Sustainability

  • A sustainable investment research framework that strengthens fundamental analysis to help us identify high-quality investments with lower risk that improves downside protection and aligns with positive sustainability outcomes.​

(As of Dec 31, 2025)

Fund Benchmark
AAA/Aaa 11.4 3.1
AA/Aa 72.4 73.9
A 7.5 11.7
BBB 19.8 11.2
High Yield 1.0 0.1
Not Rated 0.3
AA-
A+
AA+
Cash -12.5
Source: FactSet®. Credit quality is calculated using ratings assigned by Moody’s. If Moody’s does not rate a holding then Standard & Poor’s is used. If Moody’s and Standard & Poor’s do not rate a holding then Fitch is used. A bond is considered investment grade if its credit rating is BBB- or higher according to Standard & Poor’s; more specifically, a rating of “AAA” represents the highest credit quality with minimal risk of default and a rating of “BB” or below represents speculative financial security. High Yield, if noted, includes holdings that are rated BB+ or lower according to Moody’s. Not Rated category, if noted, includes holdings that are not rated by any rating agencies. Quality distribution allocations include cash and equivalents and are subject to change at any time and should not be considered recommendations to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. Figures may not total 100% due to rounding.​​

(As of Dec 31, 2025)

Fund Benchmark
< 1 Year 11.0 1.8
1 to 3 Years 21.1 27.8
3 to 5 Years 24.2 21.7
5 to 7 Years 20.7 16.8
7 to 10 Years 12.3 15.5
Greater than 10 Years 10.7 16.4
Source: FactSet®. Duration distribution allocations include cash and equivalents and are subject to change at any time and should not be considered recommendations to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. Figures may not total 100% due to rounding.​​

(As of Dec 31, 2025)

Sector Fund Benchmark
Cash & Equivalents -0.6
US Government 25.0 45.9
Government related 8.4 4.2
Corporate 27.5 23.9
Mortgage 28.4 24.2
CMBS 5.1 1.4
ABS 5.3 0.4
Municipal 1.0
Unassigned
Government Futures 12.0
Source: Advent Portfolio Exchange® for Fund data, FactSet® for benchmark data. Portfolio diversification includes cash and equivalents and are subject to change at any time. Figures may not total 100% due to rounding. Cash balances can be negative to reflect economic exposure to derivatives and other forward contracts.​

(As of Dec 31, 2025)

Portfolio Attribute Fund Benchmark
Effective Duration (years) 6.1 6.0
Yield to Worst (%) 4.5 4.3
Avg. Life (years) 7.8 8.1
30-Day SEC Yield (%) 3.95
# of Holdings 181 13,940
Source: FactSet®. Characteristics are applicable to the Investor share class only, include cash and equivalents, and are calculated gross of fees unless noted otherwise. ​ 


Mutual fund investing involves risk. Principal loss is possible. Past performance is no guarantee of future results. ​ 

Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. Click here for a current prospectus and click here for a current SAI. Please read and consider it carefully before investing. You may obtain a hardcopy of the prospectus by calling 1-800-540-6807.​ 

Click here for index and financial term definitions​ 

The information provided is not intended to be and should not be considered to be a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable.​ 

Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in Asset-Backed and Mortgage- Backed securities include additional risks that investor should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. In addition, the fund susceptible to risks from investments in derivatives, U.S. Government securities, municipal securities and its investments in other investment companies.​ 

Diversification does not assure a profit, nor does it protect against a loss in a declining market. ​ 

Effective as of June 23, 2023, the Brown Advisory Total Return Fund was merged with and into the Sustainable Bond Fund.​ 

Sustainable investment considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. Sustainable investment analysis may not be performed for every holding in the strategy. Sustainable investment considerations that are material will vary by investment style, sector/industry, market trends and client objectives. The Fund seeks to identify companies that it believes may be desirable based on our analysis of sustainable investment related risks and opportunities, but investors may differ in their views. As a result, the Fund may invest in companies that do not reflect the beliefs and values of any particular investor. The Fund may also invest in companies that would otherwise be excluded from other funds that focus on sustainable investment risks. Security selection will be impacted by the combined focus on sustainable investment research assessments and fundamental research assessments including the return forecasts. The Fund incorporates data from third parties in its research process but does not make investment decisions based on third-party data alone. ​ 

1Fund net assets provided by U.S. Bank and are as of the last day of the quarter and include all share classes. ​ 

Inception date represents the Investor share class. ​ 

FactSet® is a registered trademark of FactSet Research Systems, Inc.​ 

Advent Portfolio Exchange® is a registered trademark of Advent Software, Inc​ 

The Brown Advisory Funds are distributed by ALPS Distributors, Inc. 1290 Broadway, Suite 1100, Denver, CO 80203. which is not affiliated with Brown Advisory LLC.​

Average Annual Total Returns % (As of Dec 31, 2025)

Share Class Three Months One Year Three Year Five Year Ten Year Since Inception
Investor (BASBX), Inception: 08/07/2017 0.85 6.84 3.70 -0.79 1.53
Bloomberg Aggregate Bond Index 1.10 7.30 4.66 -0.36 1.72
Gross Expense Ratio: 0.47% (Investor), 0.42% (Institutional).
Net Expense Ratio: 0.47% (Investor), 0.42% (Institutional).
 
Source: U.S. Bank. Performance data quoted represents past performance and is no guarantee of future results. Performance for periods greater than one year is annualized. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, may be worth more or less than original cost. Performance for other share classes will vary. For the most recent month end performance, please call 1-800-540-6807. ​
 
Mutual fund investing involves risk. Principal loss is possible. Past performance is no guarantee of future results. ​ 

Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. Click here for a current prospectus and click here for a current SAI. Please read and consider it carefully before investing. You may obtain a hardcopy of the prospectus by calling 1-800-540-6807.​ 

Click here for index and financial term definitions​ 

The information provided is not intended to be and should not be considered to be a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable.​ 

Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in Asset-Backed and Mortgage- Backed securities include additional risks that investor should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. In addition, the fund susceptible to risks from investments in derivatives, U.S. Government securities, municipal securities and its investments in other investment companies.​ 

Diversification does not assure a profit, nor does it protect against a loss in a declining market. ​ 

Effective as of June 23, 2023, the Brown Advisory Total Return Fund was merged with and into the Sustainable Bond Fund.​ 

Sustainable investment considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. Sustainable investment analysis may not be performed for every holding in the strategy. Sustainable investment considerations that are material will vary by investment style, sector/industry, market trends and client objectives. The Fund seeks to identify companies that it believes may be desirable based on our analysis of sustainable investment related risks and opportunities, but investors may differ in their views. As a result, the Fund may invest in companies that do not reflect the beliefs and values of any particular investor. The Fund may also invest in companies that would otherwise be excluded from other funds that focus on sustainable investment risks. Security selection will be impacted by the combined focus on sustainable investment research assessments and fundamental research assessments including the return forecasts. The Fund incorporates data from third parties in its research process but does not make investment decisions based on third-party data alone. ​ 

1Fund net assets provided by U.S. Bank and are as of the last day of the quarter and include all share classes. ​ 

Inception date represents the Investor share class. ​ 

FactSet® is a registered trademark of FactSet Research Systems, Inc.​ 

Advent Portfolio Exchange® is a registered trademark of Advent Software, Inc​ 

The Brown Advisory Funds are distributed by ALPS Distributors, Inc. 1290 Broadway, Suite 1100, Denver, CO 80203. which is not affiliated with Brown Advisory LLC.​

(As of Dec 31, 2025)

Name Percentage
First American Government Obligations Fund, 3.66% 5.7
European Investment Bank, 1.38% Due 03/15/2027 3.8
United States Treasury Strip Coupon, 0.00% Due 05/15/2043 3.8
United States Treasury Note/Bond, 4.75% Due 05/15/2055 3.5
Kreditanstalt fuer Wiederaufbau, 5.00% Due 03/16/2026 2.9
United States Treasury Note/Bond, 3.13% Due 11/15/2028 2.9
United States Treasury Note/Bond, 4.88% Due 04/30/2026 2.7
United States Treasury Note/Bond, 3.75% Due 08/15/2027 2.4
United States Treasury Note/Bond, 2.88% Due 05/15/2028 2.1
Revvity Inc, 2.25% Due 09/15/2031 1.4
Total 31.3

Source: U.S. Bank. Portfolio holdings include cash and equivalents and are subject to change at anytime. The information provided in this material is not intended to be and should not be considered tobe a recommendation or suggestion to engage in or refrain from a particular course of action or tomake or hold a particular investment or pursue a particular investment strategy, including whether ornot to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments insuch securities have been or will be profitable. Numbers may not total due to rounding.​ 

Mutual fund investing involves risk. Principal loss is possible. Past performance is no guarantee of future results. ​ 

Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. Click here for a current prospectus and click here for a current SAI. Please read and consider it carefully before investing. You may obtain a hardcopy of the prospectus by calling 1-800-540-6807.​ 

Click here for index and financial term definitions​ 

The information provided is not intended to be and should not be considered to be a recommendation or suggestion to engage in or refrain from a particular course of action or to make or hold a particular investment or pursue a particular investment strategy, including whether or not to buy, sell, or hold any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable.​ 

Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in Asset-Backed and Mortgage- Backed securities include additional risks that investor should be aware of including credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. In addition, the fund susceptible to risks from investments in derivatives, U.S. Government securities, municipal securities and its investments in other investment companies.​ 

Diversification does not assure a profit, nor does it protect against a loss in a declining market. ​ 

Effective as of June 23, 2023, the Brown Advisory Total Return Fund was merged with and into the Sustainable Bond Fund.​ 

Sustainable investment considerations are one of multiple informational inputs into the investment process, alongside data on traditional financial factors, and so are not the sole driver of decision-making. Sustainable investment analysis may not be performed for every holding in the strategy. Sustainable investment considerations that are material will vary by investment style, sector/industry, market trends and client objectives. The Fund seeks to identify companies that it believes may be desirable based on our analysis of sustainable investment related risks and opportunities, but investors may differ in their views. As a result, the Fund may invest in companies that do not reflect the beliefs and values of any particular investor. The Fund may also invest in companies that would otherwise be excluded from other funds that focus on sustainable investment risks. Security selection will be impacted by the combined focus on sustainable investment research assessments and fundamental research assessments including the return forecasts. The Fund incorporates data from third parties in its research process but does not make investment decisions based on third-party data alone. ​ 

1Fund net assets provided by U.S. Bank and are as of the last day of the quarter and include all share classes. ​ 

Inception date represents the Investor share class. ​ 

FactSet® is a registered trademark of FactSet Research Systems, Inc.​ 

Advent Portfolio Exchange® is a registered trademark of Advent Software, Inc​ 

The Brown Advisory Funds are distributed by ALPS Distributors, Inc. 1290 Broadway, Suite 1100, Denver, CO 80203. which is not affiliated with Brown Advisory LLC.​