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Bond Fund

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Asset Class

Bond

Category

Multisector Bond

Fund Benchmark

Bloomberg U.S. Agg Bond Index
Overview
Fund Information
Performance
Holdings
Distributions
Literature
Commentary

Overview

Investment Objective

The Fund seeks current income with limited credit risk.

Fund Description

The Yorktown Bond Fund is a globally diversified portfolio that seeks a high level of current income with limited credit risk. The Fund invests primarily in a broad range of bonds including investment-grade and non-investment grade debt (U.S. and foreign). The Fund’s portfolio emphasizes credit diversification to reduce portfolio volatility, and tactically allocates risk across sectors and credit qualities while considering duration exposure. The Fund may be appropriate for investors seeking current income, total return, and limited credit risk.

Management Team
John Tener, CFA
Portfolio Manager
David M. Basten
Managing Director
David D. Basten
President & CIO

Why Invest

Current income from investment-grade and non-investment-grade debt

U.S. and foreign securities

Seeks to reduce portfolio volatility through diversification

Fund Information

Fund Share Class Data

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The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.

*NAV: Net asset value is the value of an entity’s assets minus the value of its liabilities, often in relation to open-end, mutual funds, hedge funds, and venture capital funds. Shares of such funds registered with the U.S. Securities and Exchange Commission are usually bought and redeemed at their net asset value.

**YTD Performance: Year-to-date return refers to the profit (or loss) generated by an investment during the year. YTD return is calculated by subtracting the starting value from the current value and dividing it by the starting value. The figure can be multiplied by 100 to convert it into a percentage.

The minimum initial investment in the Fund’s Class A and Class L Shares is $1,000, and the minimum for additional investments is $100. The minimum initial investment in the Fund’s Institutional Class Shares is $1,000,000, and the minimum for additional investments is $100,000. There are no minimums for purchases or exchanges through employer-sponsored retirement plans.

Read important information about results and other investment disclosures below.

Yields & Expenses

Yield reflects income earned during a 30-day period, after the deduction of the fund’s gross expenses.

Fees - Class A

* Finder’s Fee. See Prospectus or call the Sales Desk.

Fees - Class I

  • No Load Share Class

Fees - Class L

  • No CDSC
  • No Front or Back End Sales Charges

Performance

Class A inception: 07/02/1997

Class I inception: 04/01/2010

Class L inception: 07/01/2004

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This fund experienced a significant change in its investment strategy as of April 01, 2020.

The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.

The 3YR, 5YR and 10YR returns are annualized. SINCE INCEPTION returns are annualized when the time period from the Fund’s inception to the “As of” date is greater than 12 months.

The Fund Benchmark's SINCE INCEPTION returns are based on the oldest share class' inception date.

Read important information about results and other investment disclosures below.

This fund experienced a significant change in its investment strategy as of April 01, 2020.

The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.

The 3YR, 5YR and 10YR returns are annualized. SINCE INCEPTION returns are annualized when the time period from the Fund’s inception to the “As of” date is greater than 12 months.

The Fund Benchmark's SINCE INCEPTION returns are based on the oldest share class' inception date.

Read important information about results and other investment disclosures below.

*Calendar year performance is not net of any applicable sales charge.

This fund experienced a significant change in its investment strategy as of April 01, 2020.

The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-544-6060.

Read important information about results and other investment disclosures below.

Holdings

Top 10 Portfolio Holdings

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Holdings subject to change. Current and future holdings subject to risk.

Distributions

Literature

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Commentary

  • September 26' Monthly Commentary
    on September 17, 2026

    Short Term Bond Fund The Iran conflict continued to generate significant volatility throughout […]

  • August 26' Monthly Commentary
    on August 18, 2026

    Short Term Bond Fund The fragile ceasefire with Iran collapsed early in July as U.S. strikes […]

  • Meet Dave M. Basten
    on August 4, 2026

    For David M. Basten, Managing Director at Yorktown Funds, asset management isn’t just a career […]

Annual Operating Expenses

As of the Bond Fund’s May 31, 2026 prospectus, Fund total operating expense ratios are: Class A, 1.16%; Class L, 1.66%; Institutional Class, 0.66%. The Bond Fund does not use fee waivers at this time.

Annual Operating Expenses

As of May 31, 2026 prospectus, Fund total operating expense ratios are: Class A, 2.02%; Class L, 2.76%; Institutional Class, 1.76%.  In the interest of limiting expenses of the Fund, the Adviser has entered into a contractual expense limitation agreement with the Trust, effective May 31, 2026, so that the Fund’s ratio of total annual operating expenses is limited to 1.60% for class A Shares, 2.35% for Class L Shares, and 1.35% for the Institutional Class Shares until at least May 31, 2027.  The net annual expense ratio takes into account contractual management fee waivers that are in effect until May 31, 2027.

Annual Operating Expenses

As of May 31, 2026 prospectus, Fund total operating expense ratios are: Class A, 1.28%; Class L, 2.28%; Institutional Class, 1.28%.  In the interest of limiting expenses of the Fund, the Adviser has entered into a contractual expense limitation agreement with the Trust, effective May 31, 2026, so that the Fund’s ratio of total annual operating expenses is limited to 1.25% for class A Shares, 2.25% for Class L Shares, and 1.25% for the Institutional Class Shares until at least May 31, 2027.

Annual Operating Expenses

Per the most recent prospectus, Fund total operating expense ratios are: Class A, 2.68%; Class L, 3.43%; Institutional Class, 2.43%. The Fund does not use fee waivers at this time.

Annual Operating Expenses

As of May 31, 2026 prospectus, Fund total operating expense ratios are: Class A, 1.00%; Class L, 1.65%; Institutional Class, 1.00%.  In the interest of limiting expenses of the Fund, the Adviser has entered into a contractual expense limitation agreement with the Trust, effective May 31, 2026, so that the Fund’s ratio of total annual operating expenses is limited to 0.79% for class A Shares, 1.44% for Class L Shares, and 0.79% for the Institutional Class Shares until at least May 31, 2027.