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Fixed Income

Reinhart Corporate Bond Ladders

Strategy Overview

Reinhart Corporate Bond Ladders are actively monitored, well-diversified corporate bond portfolios designed to provide a stable income stream while protecting capital in volatile markets. The passive ladder structure helps reduce interest rate risk by systematically reinvesting proceeds at the longest end of the maturity distribution. The strategy primarily invests in “A” or better U.S. corporate bonds, laddered over 1-5 or 1-10 years.

Key Facts

Strategy Inception January 2019
Investment Vehicles Separate Account
Investable Securites Primarily “A” rated or better U.S. Corporate Bonds
Maturity Structures 1-5 year
1-10 year
Fact Sheet

Experienced Management

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Investment Philosophy & Approach

Our fixed income management investment philosophy’s hallmarks include quality, stability, and predictability. We believe that successful fixed income management is a product of understanding the role bonds play in a specific client’s investment strategy and developing unique portfolios to meet the objectives of that client.

High Quality

Primarily “A” rated or better.

Duration Constrained

Portfolio duration is typically within 10% of the benchmark index.

Well Structured

Predictable cash flows at the portfolio and security levels.

Highly Liquid

Invest in highly liquid bonds primarily from large issuers with multiple securities across the yield curve.

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Reinhart Fixed Income Team

Related Insights

Commentary

Reinhart Week in Review by Madison Investments

The Reinhart Week in Review by Madison Investments contains a weekly recap of key market and economic events.

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White Papers

The Case for Intermediate Bonds as Rates Fall

With rates now higher than they’ve been in years, investors are reassessing fixed income. It’s tempting to assume longer bonds offer higher yields and better return potential, but 2022 proved otherwise. Today’s valuations and history suggest taking a more balanced…

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White Papers

Fixed Income 3Q 2025: Markets at an Inflection Point

The third quarter of 2025 marked an important turning point for the Federal Reserve and the broader fixed income landscape. Inflation has steadied, but the labor market is clearly softening, and the Fed has pivoted to easing policy.

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White Papers

Bond Ladders vs. Actively Managed Bond Portfolios

Learn the difference between bond ladders and actively managed bond portfolios. Compare income potential, flexibility, risks, and discover which fixed income strategy may suit your goals.

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White Papers

Understanding Treasury Inflation-Protected Securities (TIPS)

For years after the 2008 Financial Crisis, inflation was not a primary concern for investors, but the recent resurgence has renewed interest in protection strategies. Treasury Inflation-Protected Securities (TIPS) may offer a solution.

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White Papers

Rising Term Premiums

We’ve written extensively about our concern that the credit markets are underpricing risk. Today, most of these spreads are at or near historically tight levels, providing little excess reward for taking on credit risk.

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White Papers

Rethinking Risk in Fixed Income Allocations

As we enter the second half of 2025, investors face an inflection point in portfolio allocations. For many investors, allocating to fixed income makes a lot of sense, but misconceptions of the types of fixed income strategies could inadvertently amplify…

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Videos

Portfolio Manager Q&A – Bill Ford

What does the latest Fed decision, slowing jobs data, and tight credit spreads mean for investors? Bill Ford, Co-Head of Reinhart Fixed Income, explains why he’s staying defensive, how CFOs are navigating tariffs, and where he sees opportunities ahead.

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Commentary

Fixed Income 1Q 2025: Bonds Reassert Their Role in Portfolios

As trade tensions persist and economic uncertainty rises, credit spreads have widened, signaling significant implications for fixed income markets.

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Quality refers to the bond ratings provided by the various third-party ratings agencies. Stability and predictability refer to the cash flow of individual securities and not to the market value or performance of portfolio holdings. There is no guarantee this strategy will lead to investment success.

In addition to the ongoing market risk applicable to portfolio securities, bonds are subject to interest rate risk, credit risk and inflation risk. When interest rates rise, bond prices fall; generally, the longer a bond’s maturity, the more sensitive it is to this risk. Credit risk is the possibility that the issuer of a security will be unable to make interest payments and repay the principal on its debt. Bonds may also be subject to call risk, which allows the issuer to retain the right to redeem the debt, fully or partially, before the scheduled maturity date. Proceeds from sales prior to maturity may be more or less than originally invested due to changes in market conditions or changes in the credit quality of the issuer.

Diversification does not assure a profit or protect against loss in a declining market.

Yield Curve is a line that plots yields (interest rates) of bonds having equal credit quality but differing maturity dates. The slope of the yield curve gives an idea of future interest rate changes and economic activity. There are three main types of yield curve shapes: normal (upward sloping curve), inverted (downward sloping curve) and flat. Yield curve strategies involve positioning a portfolio to capitalize on expected changes.