Daily Income Fund
Investment Objective and Strategy
Is this fund a good choice for me?
The Daily Income Fund might be appropriate if you plan to withdraw your money in the near term and want to earn a modest stream of interest on your savings.
Investment objective and strategy
The fund seeks maximum current income, consistent with preservation of capital and liquidity, by investing in high-quality money market securities. These investments include: debt securities backed by the full faith and credit of the United States (e.g., U.S. Treasury bills) or by the credit of a federal agency or government-sponsored entity. The U.S. government securities in which the fund invests might also include variable and floating rate instruments.
Fund Profile
| Inception | November 19, 1990 |
|---|---|
| Asset Allocation | Money Market |
| Ticker Symbol | HDIXX |
| CUSIP Number | 437769102 |
| Fee Structure | No Load |
| Gross Expense Ratio | 0.59% (Net 0.59%) (12/31/2023) |
| Gross Median Expense Ratio for Peer Group | 0.53% (Net 0.40%) (12/31/2023) |
| Transaction Fees | NONE |
| 7-Day Effective Yield | 4.07% (12/31/2024) |
The expense ratio shows the percentage of fund assets deducted annually to cover operating costs. Fund expense ratios shown here do not include acquired fund fees and expenses. If applicable, these additional costs are disclosed in the prospectus. For some funds, the investment advisor has agreed voluntarily or contractually (for at least the current fiscal year) to waive or reimburse a portion of expenses. The net expense ratio is the expense ratio minus the portion of expenses waived or reimbursed. Please see the current prospectus for additional details. The peer ratio is according to Morningstar Direct, based on each fund’s Morningstar classification.
Performance
Total Returns
As of 09/30/2024
Calendar-Year Total Returns
The total returns shown above represent past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. For performance data current to the most recent month-end, call 800.258.3030 or visit homesteadfunds.com.
Fund total returns include changes in principal value and reinvested dividends, income and capital gain distributions.
As a money market fund, the Daily Income Fund has limited potential for income production. You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.
Debt securities are subject to interest rate risk, credit risk, income risk, issuer risk and market risk. The value of U.S. government securities can decrease due to, among other factors, changes in interest rates or changes to the financial condition or credit rating of the U.S. government.
Industry Classifications
Morningstar |
|
| Category | Money Market — Taxable |
|---|---|
Share Price History
As of 01/17/2025
The Daily Income Fund has maintained a $1.00 share price since its inception.
Composition
Security Weightings
As of 09/30/2024
Portfolio Characteristics
As of 09/30/2024
| Net Assets | $222,188,961 |
|---|---|
| Number of Holdings | 83 |
| Weighted Average Maturity | 37 days |
Distributions
Income and/or capital gains distributions for this fund, if any, are listed in the table below for the current and previous calendar year. Mutual funds are required to pass through to their shareholders substantially all of the interest income and capital gains earned by the fund during the year. These distributions are paid on a regular schedule as shown in the table below.
2024 Earnings Distribution
| Distribution Type | Record Date | Declaration Date | $/Per Share |
|---|---|---|---|
| Ordinary Income | Daily | 1/31/24 | $0.0041 |
| Ordinary Income | Daily | 2/29/24 | $0.0038 |
| Ordinary Income | Daily | 3/28/24 | $0.004 |
| Ordinary Income | Daily | 4/30/24 | $0.0039 |
| Ordinary Income | Daily | 5/31/24 | $0.0039 |
| Ordinary Income | Daily | 6/28/24 | $0.0038 |
| Ordinary Income | Daily | 7/31/24 | $0.004 |
| Ordinary Income | Daily | 8/30/24 | $0.004 |
| Ordinary Income | Daily | 9/30/24 | $0.0038 |
| Ordinary Income | Daily | 10/31/24 | $0.0037 |
| Ordinary Income | Daily | 11/30/24 | $0.0034 |
| Ordinary Income | Daily | 12/31/24 | $0.0034 |
The record date is the date on which you must be a shareholder in order to receive a portion of the fund’s distribution.
The declaration date, typically the business day after the record date, is the date the amount of the distribution is announced and deducted from fund assets. On this day, the amount of the distribution is deducted from fund assets and calculated as a per share amount to be passed through to shareholders. The fund’s share price will decline by the amount of the distribution (plus or minus any share price change related to market activity). The following business day, shareholders will see their portion of the distribution posted to their account as either a cash dividend or dividend reinvestment.
Portfolio Management
Invesco Advisers, Inc.
Invesco Advisers, Inc. is not affiliated with Homestead Funds, Homestead Advisers Corp., Homestead Financial Services Corp. or NRECA.
As a money market fund, the Daily Income Fund has limited potential for income production. You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor is not required to reimburse the Fund for losses, and you should not expect that the sponsor will provide financial support to the Fund at any time, including during periods of market stress.
Debt securities are subject to interest rate risk, credit risk, income risk, issuer risk and market risk. The value of U.S. government securities can decrease due to, among other factors, changes in interest rates or changes to the financial condition or credit rating of the U.S. government.
