Galliard Agency MBS & Structured Government Strategy

Historically, MBS offer higher yields than U.S. Treasuries with a similar duration and convexity profile.

Historically low correlation with equities and other fixed income assets helps reduce portfolio volatility and improve risk-adjusted returns.¹

MBS provide consumer credit exposure via residential mortgages, offering a unique diversifier.

Our MBS strategy provides a better convexity profile than the MBS index which has historically resulted in higher returns.²

Our approach focuses on diversification to manage risk and stabilize returns.

Our fundamental bottom-up research drives individual investment decisions.

1: The Bloomberg U.S. MBS Index 10 Year Correlation Coefficient as of 12/31/2025. Data sourced from Nasdaq eVestment and reported on 1/21/2026. eVestment Alliance, LLC and its affiliated entities (collectively “Nasdaq eVestment”) collect information directly from investment management firms and other sources believed to be reliable, however, Nasdaq eVestment does not guarantee or warrant the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Copyright © Nasdaq. All Rights Reserved.
2: The convexity of the Galliard Agency MBS Custom Composite vs. the Bloomberg U.S. MBS Index from 1/31/2017 – 12/31/2025.

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