Domini Impact Bond FundSM
Core-plus fixed income strategy seeking to help build strong, sustainable communities through a diversified bond portfolio
The Domini Impact Bond FundSM seeks to help build healthy and vibrant communities by directing capital to where it is needed most.
At Domini, we believe healthy economies are built on a foundation of fairness and equal opportunity, and fixed income is particularly well-suited to help address a wide range of economic disparities. The Fund seeks to support access to affordable and quality housing, health care, education, transportation, renewable energy, clean water, financial services, and more through a diversified bond portfolio consistent with the promotion of universal human dignity and ecological sustainability. For investors who want to help build a more sustainable and equitable economy, the Fund offers a straightforward, professionally managed way to invest for current income and total return while having a positive impact at the community level.
The Fund is managed through a successful collaboration between Domini and Wellington Management, the Fund’s Subadviser. This collaboration is designed to capitalize on the strengths of each firm by combining Domini’s industry-leading impact research and engagement with Wellington Management’s deep expertise in managing fixed income portfolios.
Net Assets as of 9/30/2026
Fund: $254.8 million
Investor shares: $108.1 million
Daily Price (NAV)
Daily NAV Change
Adviser
Domini Impact Investments LLC
Subadviser
Wellington Management Company LLP
Inception Date
6/1/2000
Symbol
DSBFX
Portfolio Managers (Wellington Management)
Annual Expense Ratio1
Gross: 1.14%/Net: 0.87%
Per current prospectus
Front-End Sales Charge (Load)
None
Minimum Initial Investment
$2,500 for standard accounts
$1,500 for retirement accounts, custodial and educational accounts, and standard accounts opened with an automatic investment plan
Investment Strategy
The Fund provides core-plus U.S. bond exposure through a diversified portfolio of primarily investment-grade securities with an effective duration within ±2 years of its benchmark.
It invests primarily in core sectors of the fixed income universe (at least 80%), including U.S. Government agency bonds, investment-grade corporate and municipal bonds, mortgage-backed securities, commercial mortgage-backed securities, and other asset-backed securities. It also includes opportunistic exposure to certain out-of-benchmark “plus” sectors (up to 20%), including high-yield bonds, bank loans, non-U.S. sovereign and supranational bonds, and emerging markets debt.
Impact Investment Standards & Research
The investment strategy puts Domini’s Impact Investment Standards and proprietary impact research at the forefront of the process. We set environmental and social guidelines and objectives for each fixed income sector or asset class and conduct in-depth, fundamental research to build and maintain a universe of eligible bond issuers and securities that meet our standards.
Our fixed income evaluations focus on three key objectives: (1) increasing access to capital for those historically underserved by the mainstream financial community, (2) financing public goods for those most in need, and (3) filling capital gaps left by current financial practice.
The Fund maintains a long-standing policy to exclude U.S. Treasury securities, primarily due to concerns about financing the nation’s nuclear weapons arsenal. Instead of investing in these general US Government obligations, the Fund invests in bonds issued by U.S. Government agencies that serve purposes aligned with our goals, primarily those supporting affordable housing. Our broader exclusionary standards, which restrict investment in industries such as weapons, fossil fuels, and tobacco, also apply to corporate issuers held in the Fund.
Portfolio Management
Wellington Management constructs and maintains a diversified portfolio of Domini-eligible securities through a robust process that combines top-down macroeconomic and market strategy with bottom-up, fundamental credit research.
The portfolio is managed by Wellington Management’s Broad Markets Team. The Fund’s named portfolio managers are Campe Goodman, CFA; Samuel Epee-Bounya; and Robert D. Burn, CFA.
Engagement
Domini seeks to amplify the Fund’s impact by engaging with issuers to address environmental and social risks, promote borrower protection practices, and support the development of transparent issuance frameworks and reporting on use of proceeds. Learn more.
The Fund may change any of the policies described above at any time.
Investor Shares Performance
| Fund | YTD | 1 YR | 3 YR* | 5 YR* | 10 YR* |
|---|---|---|---|---|---|
| DSBFX | -3.06 | -2.40 | 3.84 | -1.16 | 1.13 |
| Bloomberg U.S. Aggregate Bond Index | -2.91 | -1.84 | 4.05 | -0.64 | 1.13 |
| Fund | YTD | 1 YR | 3 YR* | 5 YR* | 10 YR* |
|---|---|---|---|---|---|
| DSBFX | -3.06 | -2.40 | 3.84 | -1.16 | 1.13 |
| Bloomberg U.S. Aggregate Bond Index | -2.91 | -1.84 | 4.05 | -0.64 | 1.13 |
| Year | DSBFX | BUSA |
|---|---|---|
| 2025 | 6.07 | 7.30 |
| 2024 | 1.73 | 1.25 |
| 2023 | 5.72 | 5.53 |
| 2022 | -14.66 | -13.01 |
| 2021 | -0.84 | -1.54 |
| 2020 | 10.06 | 7.51 |
| 2019 | 9.14 | 8.72 |
| 2018 | -0.91 | 0.01 |
| 2017 | 3.85 | 3.54 |
| 2016 | 3.44 | 2.65 |
| 2015 | -0.46 | 0.55 |
| Quarter | DSBFX | BUSA |
|---|---|---|
| Q3 2025 | -4.02 | -3.51 |
| Q2 2026 | 0.89 | 0.67 |
| Q1 2026 | 0.11 | -0.05 |
| Q4 2025 | 0.68 | 1.10 |
| Q3 2025 | 1.78 | 2.03 |
* Average annual total returns.
Returns for periods less than one year are not annualized.
The Fund’s current investment strategy and Subadviser services commenced on January 7, 2015. Performance information for periods beginning prior to January 7, 2015 reflects the investment strategies employed during those periods.
Annual Expense Ratio1 – Gross: 1.14% / Net: 0.87%. Per current prospectus.
1. The Fund’s Adviser has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses) in order to limit Investor share expenses to 0.87% through November 30, 2026, absent an earlier modification by the Fund’s Board. There can be no assurance that the Adviser will extend the expense limitations beyond such time. While in effect, the arrangement may be terminated for a class only by agreement of the Adviser and the Fund’s Board of Trustees.
Past performance is no guarantee of future results. The Fund’s returns quoted above represent past performance after all expenses. The returns reflect any applicable expense waivers in effect during the periods shown. Without such waivers, Fund performance would be lower. Investment return, principal value, and yield will fluctuate. Your shares, when redeemed, may be worth more or less than their original cost. See the Performance tables above for more complete performance information, including returns current to the most recent month-end, which may be lower or higher than the performance data quoted. See the prospectus for further information.
An investment in the Domini Impact Bond Fund is not a bank deposit and is not insured. The Fund is subject to certain risks, including the loss of principal, impact investing, portfolio management, style, information, market, interest rate, and credit risks. See the prospectus for more information on risk.
The Adviser’s evaluation of environmental and social factors in its investment selections, as well as its evaluation of a company’s commitment to sustainability solutions, and the timing and amount of the Subadviser’s implementation of the Adviser’s investment selections will affect the Funds’ exposure to certain issuers, industries, sectors, regions, and countries and may impact the relative financial performance of the Fund – positively or negatively – depending on whether such investments are in or out of favor. The Fund may forego some investment opportunities, including investments in certain market sectors that are available to funds that do not consider environmental and social factors and sustainability solutions in their investment selections.
The performance above does not reflect the deduction of fees and taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Total return is based on the Fund’s net asset values and assumes all dividends and capital gains were reinvested.
Although the Domini Impact Bond Fund Investor shares are no-load, certain fees and expenses apply to a continued investment and are described in the prospectus.
The Bloomberg U.S. Aggregate (BUSA) Bond Index is an index representing securities that are U.S. domestic, taxable, and dollar denominated and covering the U.S. investment-grade fixed-rate bond market, with index components for government and corporate securities and asset-backed securities. Investors cannot invest directly in the BUSA.
Holdings
| Security Name | Weight (%) |
|---|---|
| Federal Home Loan Discount Note 10/26 0.00000 | 6.9 |
| FNMA TBA 30 Yr 5.5 Single Family Mortgage | 5.9 |
| European Investment Bank Sr Unsecured 09/30 0.75 | 4.0 |
| Fannie Mae Notes 08/30 0.875 | 2.5 |
| KFW Govt Guarant 02/34 4.375 | 2.1 |
| Federal Home Loan Bank Bonds 11/35 3.315 | 2.0 |
| FNMA Prin Strips Notes 07/37 0.00000 | 1.8 |
| Federal Home Loan Bank Bonds 11/28 3.25 | 1.8 |
| Fannie Mae Unsecured 10/27 0.75 | 1.7 |
| FNMA Pool Cb2291 Fn 12/51 Fixed 2.5 | 1.2 |
| Total | 30 |
| Sector | Weight (%) |
|---|---|
| US Government Agency Obligations | 23.5 |
| Agency Mortgage-Backed Securities | 22.7 |
| Corporate Bonds & Bank Loans | 20 |
| Non-US Sovereign & Government-Related Bonds | 10.5 |
| Commercial Mortgage-Backed Securities | 9.6 |
| Local & Nonprofit Municipal Bonds | 8.5 |
| Asset-Backed Securities | 2.3 |
| Government-Related Municipal Bonds | 2.2 |
| Non-Agency Residential MBS | 0.8 |
| Total | 100 |
| Credit Quality | Weight (%) |
|---|---|
| AAA/Aaa | 15.5 |
| AA/Aa | 50.2 |
| A | 8 |
| BBB/Baa | 8.5 |
| BB/Ba | 4 |
| B | 4.3 |
| CCC/Caa or Lower | 7.13 |
| Not Rated | 2.5 |
| Total | 100 |
2. Credit quality ratings are the opinions of Standard & Poor’s Rating Services, a division of McGraw-Hill Companies, Inc. (Standard & Poor’s), and Moody’s Investors Service, Inc. (Moody’s) for the underlying securities of the Fund, and typically range from AAA/Aaa (highest) to C/D (lowest). If Standard & Poor’s and Moody’s assign different ratings, the lower rating is used.
Securities that are not rated by either agency are listed as “Not Rated.” Ratings do not apply to the Fund itself or to Fund shares. Ratings may change.
Fund Portfolio weights exclude cash and cash equivalents. Numbers may not add up to totals due to rounding.
The composition of the Fund’s portfolio is subject to change. The Domini Funds maintain portfolio holdings disclosure policies that govern the timing and circumstances of disclosure to shareholders and third parties of information regarding the portfolio investments held by the Funds.
Portfolio Characteristics†
| Characteristic | Fund | BUSA3 |
|---|---|---|
| Number of Holdings | 434 | 14,220 |
| Number of Issuers | 187 | 1,134 |
| Effective Duration | 6.13 | 5.98 |
| Yield to Maturity | 6.07% | 5.57% |
| Years to Maturity | 7.89 | 8.13 |
| Yield to Worst | 6.05% | 5.56% |
| Years to Worst | 7.46 | 8.03 |
| SEC 30-Day Yield (Investor shares)‡ | 4.02% | — |
3. Bloomberg U.S. Aggregate Bond Index
† Source: Wellington Management Company LLP, as calculated by its proprietary portfolio management system, except as noted by ‡. All characteristics are as of September 30, 2026.
‡ SEC 30-Day Yield is a current yield calculation for bond funds. It is calculated using an SEC-standardized formula and is based on the maximum offer price per share.
Quick Links
Investor Profile
Fund Distributions
Dividends
Accumulated daily, distributed monthly
Capital Gains
Distributed annually
Who should invest?
- Investors seeking a high level of current income and total return
- Investors seeking exposure to the bond market to diversify their portfolio
- Investors committed to the Fund’s impact investment standards
Who Should not invest?
- Investors unwilling or unable to accept fluctuations in share price due to risks associated with the bond market
Domini News
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Domini is honored to share that we have been named the winner of Thought Leadership: ESG / Sustainable Investing in the Asset Management Overall category at the 2026 Asset Management STAR Awards North America. Winners were announced on October 19, 2026, at the awards ceremony in Boston.
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Shaping a Responsible AI Economy: Third Quarter 2026 Impact Update
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How Domini Applies Its Impact Investment Standards to Artificial Intelligence
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Definitions
Effective Duration is the market-value-weighted average of the effective duration of all securities, which is a measure of bond price sensitivity to the change in interest rates.
Yield to Maturity is the sum of the total return expected on all securities when held to maturity.
Years to Maturity is the market-value-weighted average of the time until the securities mature.
Yield to Worst is the sum of the total return expected on all securities in a worst-case call scenario.
Years to Worst is the market-value-weighted average of the time until the earliest date the securities can be called.
“Bloomberg®” and the BUSA are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Domini Impact Investments LLC (“Domini”). Bloomberg is not affiliated with Domini, and Bloomberg does not approve, endorse, review, or recommend the Fund. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Fund.