Wilmington Funds
08/31/2026 | Press release | Distributed by Public on 08/31/2026 14:19
Summary Prospectus by Investment Company (Form 497K)
SUMMARY PROSPECTUS - August 31, 2026
WILMINGTON BROAD MARKET BOND FUND
Class/Ticker A WABMX I WIBMX
Before you invest, you may want to review the Fund's Prospectus and Statement of Additional Information, which contain more information about the Fund and its risks. You can find the Fund's Prospectus, Statement of Additional Information, and other information about the Fund online at www.wilmingtonfunds.com. You can also get this information at no cost by calling 1.800.836.2211, by sending an email to [email protected], or by asking any financial advisor, bank, or broker-dealer who offers shares of the Fund. The Fund's Prospectus and Statement of Additional Information, both dated August 31, 2026, are incorporated by reference into this Summary Prospectus.
Investment Goal
The Fund seeks to provide current income and secondarily, capital growth.
Fees and Expenses
This table describes the fees and expenses that you may pay if you buy and hold the Fund's Class A Shares and Class I Shares. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in the Wilmington Funds. More information about these and other discounts is available from your financial professional and in the Fund's prospectus in the section entitled "How are shares priced?" on page 76 of the prospectus.
Shareholder Fees
(Fees paid directly from your investment)
| Class A | Class I | |||||||
|
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) |
4.50% | None | ||||||
| Maximum Deferred Sales Charge (Load) | None | None | ||||||
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions) | None | None | ||||||
| Redemption Fee | None | None | ||||||
| Exchange Fee | None | None | ||||||
Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment)
| Class A | Class I | |||||||
| Management Fee | 0.45% | 0.45% | ||||||
| Distribution and/or Service (12b-1) Fees | 0.25% | None | ||||||
| Other Expenses | 0.36% | 0.11% | ||||||
| Total Annual Fund Operating Expenses | 1.06% | 0.56% | ||||||
| Fee Waivers and/or Expense Reimbursements(1) | (0.38)% | (0.13)% | ||||||
| Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement | 0.68% | 0.43% | ||||||
| (1) | The Fund's Advisor, distributor and shareholder services provider have agreed to waive their fees and/or reimburse expenses so that the total annual fund operating expenses paid by the Fund's Class A Shares and Class I Shares will not exceed 0.68% and 0.43%, respectively, not including the effects of acquired fund fees and expenses, taxes, extraordinary expenses, brokerage commissions and interest. This waiver may be amended or withdrawn after August 31, 2027, or with the agreement of the Fund's Board of Trustees. |
Example
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the Fund's Class A Shares and Class I Shares for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same and that the fee waivers/expense reimbursements remain in place for the contractual period. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:
| 1 Year | 3 Years | 5 Years | 10 Years | |||||||||||||
|
Class A |
||||||||||||||||
|
Expenses assuming redemption |
$ | 516 | $ | 736 | $ | 973 | $ | 1,653 | ||||||||
|
Class I |
||||||||||||||||
|
Expenses assuming redemption |
$ | 44 | $ | 166 | $ | 300 | $ | 689 | ||||||||
| SUMMARY PROSPECTUS / August 31, 2026 | 1 |
WILMINGTON BROAD MARKET BOND FUND
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 26% of the average value of its portfolio.
Principal Investment Strategies of the Fund
The Fund seeks to achieve its investment goal by investing primarily in U.S. investment grade corporate and government fixed income securities, including mortgage and asset backed securities. Under normal circumstances, the Fund invests at least 80% of the value of its net assets in fixed income securities. The Fund's investment advisor will generally select investment grade fixed income securities and unrated securities determined to be of comparable quality, but also may invest up to 5% of the Fund's total assets in lower-rated debt securities ("junk bonds"). The Fund seeks to maintain a dollar-weighted average maturity of four to ten years. However, the dollar-weighted average maturity of the Fund's investments will vary depending on market conditions.
"Broad Market" refers to the broad fixed income universe from which the Fund may select investments, rather than to any single fixed income sector, issuer type, maturity range, duration profile, credit quality, or investment style. The broad fixed income universe may include, among others, U.S. Government obligations, corporate debt securities, mortgage-backed securities, asset-backed securities, municipal securities, and other debt obligations. The term is intended to describe the breadth of the Fund's eligible fixed income opportunity set and does not require exposure to all segments of that universe at any given time.
In selecting securities for the Fund, the investment advisor considers a security's credit quality, capital appreciation potential, maturity and yield to maturity. The investment advisor will monitor changing economic conditions and trends, including interest rates, and may sell securities in anticipation of an increase in interest rates or purchase securities in anticipation of a decrease in interest rates.
Principal Risks of Investing in the Fund
All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund's returns include:
| • | Active Trading Risk. The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance) and increase the amount of taxes that you pay. |
| • | Call Risk. Issuers of securities may redeem the securities prior to maturity at a price below their current market value. |
| • | Changing Fixed Income Market Conditions Risk. Interest rates have changed due to changes in Federal Reserve Bank (FRB) monetary policy actions, as well as the monetary policy responses of other central banks around the world. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of the Fund's investments and share price may decline. Changes in central bank policies could also result in higher than normal shareholder redemptions, which could potentially increase portfolio turnover and the Fund's transaction costs. |
| • | Credit Risk. There is a possibility that issuers of securities in which the Fund invests may default in the payment of interest or principal on the securities when due, which would cause the Fund to lose money. |
| • | Interest Rate Risk. The risk posed by the fact that prices of fixed income securities rise and fall inversely in response to interest rate changes. For instance, a rise in interest rate causes a fall in the value of a fixed income security. In addition, this risk increases with the length of the maturity of the fixed income security. Accordingly, the yield earned by a Fund will vary with changes in interest rates. Also, when interest rates fall, the price of mortgage-backed securities may not rise to as great an extent as that of other fixed income securities. Duration is a measure of the expected life of a debt security that is used to determine the sensitivity of the security's price to changes in interest rates. Generally, the longer the Fund's duration, the more sensitive the Fund will be to changes in interest rates. |
| • | Liquidity Risk. The risk that certain securities may be difficult or impossible for a Fund to sell or dispose of at the price at which the Fund has valued the security. |
| • |
Market Risk. There is a risk that the value of the Fund's investments may decrease in response to expected, real or perceived economic, political or financial events in the U.S. or global markets. The frequency and magnitude of such changes in value cannot be predicted. Certain securities and other investments held by the Fund may experience increased volatility, illiquidity, or other potentially adverse effects in response to changing market conditions, inflation, changes in interest rates, trade disputes, changes in trade regulation or economic sanctions, elevated levels of government debt, internal unrest and discord, lack of liquidity in the bond markets, market disruptions caused by local or regional events such as war, acts of terrorism, the spread of infectious illness (including epidemics and pandemics) or other public health issues, recessions, the threat or occurrence of a government shutdown, or other events or adverse investor sentiment or other political, regulatory, |
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WILMINGTON BROAD MARKET BOND FUND
| economic and social developments, and developments that impact specific economic sectors, industries or segments of the market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide due to increasingly interconnected global economies and financial markets. |
| • | Mortgage-Backed and Asset-Backed Securities Risk. Through its investments in mortgage-backed securities, the Fund may have some exposure to subprime loans, as well as to the mortgage and credit markets generally. Subprime loans, which are loans made to borrowers with weakened credit histories, have had in many cases higher default rates than loans that meet government underwriting requirements. The credit quality of most asset-backed securities depends primarily on the credit quality of the assets underlying such securities, how well the entity issuing the security is insulated from the credit risk of the originator or any other affiliated entities, and the amount and quality of any credit enhancement of the securities. |
| • | Non-Investment Grade Securities (Junk Bonds) Risk. High-yield bonds, which are rated below investment grade and are typically referred to as junk bonds, are generally more exposed to credit risk than investment grade securities. These securities are generally higher-yielding and higher-risk than investment grade, fixed income securities and are issued by entities whose ability to pay interest and principal on the debt in a timely manner is considered questionable. |
| • | Prepayment Risk. The risk that a mortgage-backed or other asset-backed security may be paid off and proceeds delivered to a Fund earlier than anticipated. Prepayment risk is more prevalent during periods of falling interest rates. |
As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Performance Information
The bar chart and table immediately following show the variability of the Fund's returns and are meant to provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year, with respect to its Class I Shares, and by showing how the Fund's average annual total returns for 1, 5 and 10 years compare with those of a broad measure of market performance. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at www.wilmingtonfunds.com.
Annual Total Returns - Class I Shares
|
Best Quarter 6.49% 12/31/2023 Worst Quarter (5.49)% 3/31/2022 |
The Fund's Class I Shares total return for the six-month period from January 1, 2026 to June 30, 2026 was 0.41%. For Class A Shares the average annual total returns in the table below include the maximum Class A sales charge of 4.50%, which is normally deducted when you purchase shares.
Average Annual Total Returns
(For the periods ended December 31, 2025)
| 1 Year | 5 Years | 10 Years | ||||||||||
|
Class I Shares |
||||||||||||
|
Return Before Taxes |
6.81% | (0.26)% | 1.97% | |||||||||
|
Return After Taxes on Distributions* |
5.20% | (1.44)% | 0.86% | |||||||||
|
Return After Taxes on Distributions and Sale of Fund Shares* |
4.01% | (0.71)% | 1.03% | |||||||||
|
Class A Shares |
||||||||||||
|
Return Before Taxes |
1.79% | (1.48)% | 1.16% | |||||||||
|
Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) |
7.30% | (0.36)% | 2.01% | |||||||||
| * | After-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds Fund shares in a tax-advantaged account, such as an individual retirement account or a 401(k) plan. |
| SUMMARY PROSPECTUS / August 31, 2026 | 3 |
WILMINGTON BROAD MARKET BOND FUND
Management of the Fund
Investment Advisor
Wilmington Funds Management Corporation
Investment Sub-Advisor
Wilmington Trust Investment Advisors, Inc. ("WTIA")
| Portfolio Managers | Title |
Service Date (with the Fund) |
||
| Wilmer C. Stith, III, CFA | Senior Vice President and Portfolio Manager at WTIA | 1996 | ||
| John W. Cranford, CFA, CIPM | Senior Vice President and Portfolio Manager at WTIA | 2024 | ||
Purchase and Sale of Fund Shares
Requests to purchase or redeem Fund Shares are processed on each day that the New York Stock Exchange ("NYSE") is open for business. You may purchase or redeem Shares by contacting the Fund at 1-800-836-2211. If you invest through a financial intermediary, please contact that intermediary regarding purchase and redemption procedures.
| Minimum Initial Investment Amount (Class A):* | $ | 1,000 | ||
| Minimum Initial Investment Amount (Class I):* | $ | 100,000 | ||
| Minimum Subsequent Investment Amount (all share classes): | $ | 25 | ||
| * | Other restrictions may apply. See "Purchasing Shares" in the Prospectus for further information. |
The minimum initial and subsequent investment amounts may be waived or lowered from time to time.
Tax Information
The distributions you receive from the Fund are taxable and generally will be taxed as ordinary income, capital gains, or some combination of both, unless you are investing through a tax-advantaged arrangement, such as a 401(k) plan or an individual retirement account, in which case your distributions may be taxed as ordinary income when withdrawn from the tax-advantaged account.
Additional Payments to Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies (such as the Advisor) may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your sales person or visit your financial intermediary's website for more information.
WT BMB 08.31.26
| 4 | August 31, 2026 / SUMMARY PROSPECTUS |
Wilmington Funds published this content on August 31, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on August 31, 2026 at 20:19 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]