The Evergreen Ultra Short Opportunities Fund has outperformed many other ultra-short bond funds—and weathered the subprime crisis quite well—by shifting assets toward higher-rated mortgage bonds and pass-through securities, according to The Wall Street Journal.

The subprime mortgage crisis has hurt everything from mortgage-backed securities to bond-focused mutual funds, but a well-timed bet that the yield curve would steepen and a diversification in foreign currency bonds helped Evergreen stay ahead.

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