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SFRCX Virtus Seix Floating Rate High Inc C

  • Fund
  • SFRCX
  • Price as of: Dec 12, 2018
  • $8.43
  • - $0.02
  • - 0.24%
  • Category
  • Bank Loan

SFRCX - Profile

Vitals

  • YTD Return -3.1%
  • 3 Yr Annualized Return 4.4%
  • 5 Yr Annualized Return 2.6%
  • Net Assets $6.34 B
  • Holdings in Top 10 11.2%

52 WEEK LOW AND HIGH

$8.43
$8.43
$8.76

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.60%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 55.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$100

Investment Themes

CATEGORY

Bank Loan
  • Fund Type Open End Mutual Fund
  • Investment Style Bank Loan

Distributions

  • YTD Total Return -3.1%
  • 3 Yr Annualized Total Return 4.4%
  • 5 Yr Annualized Total Return 2.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.40%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Virtus Seix Floating Rate High Income Fund
  • Fund Family Name Virtus
  • Inception Date Aug 02, 2007
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Vincent Flanagan

Fund Description

The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in a combination of first- and second-lien senior floating rate loans and other floating rate debt securities. It may invest up to 20% of its total assets in senior loans made to non-U.S. borrowers provided that no more than 5% of the portfolio's loans are non-U.S. dollar denominated. The fund may also engage in certain hedging transactions.

SFRCX - Performance

Return Ranking - Trailing

Period SFRCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.1% -4.4% 4.4% 47.39% 4
1 Yr 2.2% -1.0% 12.4% 66.98% 4
3 Yr 4.4% * 0.2% 6.7% 50.96% 3
5 Yr 2.6% * 0.2% 5.8% 71.84% 4
10 Yr 6.0% * 0.3% 10.4% 81.08% 5

* Annualized


Return Ranking - Calendar

Period SFRCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -0.6% -5.3% 6.5% 53.33% 4
2016 5.9% -12.2% 7.9% 20.29% 2
2015 -5.6% -10.4% 0.0% 42.51% 4
2014 -3.4% -6.9% 12.5% 40.69% 4
2013 0.9% -1.3% 11.2% 36.36% 3

Total Return Ranking - Trailing

Period SFRCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.1% -100.0% 4.4% 46.45% 4
1 Yr 1.3% -3.7% 12.4% 57.08% 3
3 Yr 4.4% * 0.3% 6.7% 40.38% 3
5 Yr 2.6% * 0.2% 5.8% 59.22% 3
10 Yr 6.0% * 0.3% 10.4% 78.38% 4

* Annualized


Total Return Ranking - Calendar

Period SFRCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -0.6% -5.3% 6.5% 53.33% 4
2016 5.9% -12.2% 10.8% 31.40% 2
2015 -5.6% -8.8% 2.9% 49.28% 4
2014 -3.4% -6.9% 12.5% 52.94% 4
2013 0.9% -1.3% 11.2% 40.91% 3

NAV & Total Return History

SFRCX - Holdings

Filings data as of: Oct 31, 2018

Concentration Analysis

SFRCX Category Low Category High SFRCX % Rank Quintile
Net Assets 6.34 B 76 M 14.9 B 3.77% 1
Number of Holdings 605 110 1873 4.72% 1
Net Assets in Top 10 742 M -331 M 1.94 B 4.25% 1
Weighting of Top 10 11.2% 5.7% 224.2% 13.68% 2

Top 10 Holdings

  1. Harland Clarke Holdings Term Loan B7 1.59%
  2. Centurylink Inc Term Loan B 1.27%
  3. Level 3 Parent Llc Term Loan B 1.19%
  4. Ziggo Secured Finance Part Term Loan E 1.17%
  5. Charter Communications Oper Term Loan B 1.13%
  6. Hilton Worldwide Finance Term Loan B2 1.07%
  7. Ggp Nimbus Lp Term Loan B 0.99%
  8. 1011778 Bc Ulc Term Loan B 0.96%
  9. Ineos Us Finance Llc Term Loan B 0.94%
  10. Asurion Llc Tl B2 2l 0.86%

Asset Allocation

Weighting Category Low Category High SFRCX % Rank Quintile
Bonds
96.89% 5.65% 103.01% 5.19% 1
Cash
2.58% -7.17% 87.26% 24.53% 4
Stocks
0.50% 0.00% 8.49% 10.85% 2
Other
0.02% -6.13% 10.05% 19.34% 4
Preferred Stocks
0.01% 0.00% 0.57% 7.08% 1
Convertible Bonds
0.00% 0.00% 5.86% 8.49% 2

Stock Sector Breakdown

Weighting Category Low Category High SFRCX % Rank Quintile
Industrials
0.27% 0.00% 0.65% 3.28% 1
Consumer Cyclical
0.10% 0.00% 0.85% 6.01% 1
Energy
0.05% 0.00% 1.33% 6.01% 2
Utilities
0.00% 0.00% 0.43% 5.46% 2
Technology
0.00% 0.00% 0.06% 1.09% 1
Real Estate
0.00% 0.00% 0.61% 3.83% 1
Healthcare
0.00% 0.00% 0.09% 1.64% 1
Financial Services
0.00% 0.00% 0.88% 3.28% 1
Communication Services
0.00% 0.00% 0.13% 3.28% 1
Consumer Defense
0.00% 0.00% 0.13% 3.28% 1
Basic Materials
0.00% 0.00% 1.73% 9.84% 2

Stock Geographic Breakdown

Weighting Category Low Category High SFRCX % Rank Quintile
US
0.50% 0.00% 8.49% 10.38% 2
Non US
0.00% 0.00% 1.01% 6.13% 2

Bond Sector Breakdown

Weighting Category Low Category High SFRCX % Rank Quintile
Corporate
96.81% 22.75% 99.42% 2.36% 1
Cash & Equivalents
2.58% -7.39% 164.55% 23.58% 4
Securitized
0.09% 0.00% 44.35% 13.68% 3
Derivative
0.00% -33.31% 17.86% 6.13% 2
Municipal
0.00% 0.00% 1.96% 2.36% 1
Government
0.00% -115.02% 19.70% 8.49% 2

Bond Geographic Breakdown

Weighting Category Low Category High SFRCX % Rank Quintile
US
85.52% -54.19% 94.29% 7.55% 2
Non US
11.37% 0.00% 78.18% 19.34% 3

SFRCX - Expenses

Operational Fees

SFRCX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.60% 0.01% 2.66% 13.68% 4
Management Fee 0.41% 0.00% 1.00% 10.38% 1
12b-1 Fee 1.00% 0.00% 1.00% 0.66% 4
Administrative Fee 0.10% 0.03% 0.40% 7.63% 2

Sales Fees

SFRCX Fees (% of AUM) Category Low Category High SFRCX Rank Quintile
Front Load N/A 0.75% 4.75% N/A N/A
Deferred Load 1.00% 1.00% 5.00% 9.09% 1

Trading Fees

SFRCX Fees (% of AUM) Category Low Category High SFRCX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

SFRCX Fees (% of AUM) Category Low Category High SFRCX Rank Quintile
Turnover 55.00% 13.00% 243.00% 15.09% 2

SFRCX - Distributions

Dividend Yield Analysis

SFRCX Category Low Category High SFRCX % Rank Quintile
Dividend Yield 0.4% 0.23% 1.35% 42.58% 4

Dividend Distribution Analysis

SFRCX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

SFRCX Category Low Category High SFRCX % Rank Quintile
Net Income Ratio 3.40% 2.34% 5.68% 47.64% 4

Capital Gain Distribution Analysis

SFRCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

SFRCX - Managers

Vincent Flanagan

Manager

Start Date

Aug 01, 2011

Tenure

7.34

Tenure Rank

7.5%

Vince is an experienced leveraged finance research analyst focused on the media and technology industries and became a portfolio manager on the Leveraged Loan Strategy in October of 2011. Before joining Seix he was the director of research for Assurant, Inc., covering the telecommunications, cable/media, utility and broadcasting industries. Vince began his career at TD Securities advancing to a senior high yield research analyst, where he focused on US and Canadian wireless carriers. Vince received a B.S. degree in Finance from New York University and is a CFA Charterholder.


George Goudelias

Manager

Start Date

Mar 01, 2006

Tenure

12.76

Tenure Rank

1.9%

George is a senior member of the high yield division and leads the firm’s bank loan group. He serves as a senior portfolio manager on the Bank Loan Management Strategy and senior research analyst covering cable and telecommunications. Since the 2005 inception, George has led the bank loan group and also oversees the firm’s collateralized loan obligation platform. George has extensive experience covering the telecommunications and cable industries and is well known on both the sell side and buy side of the business. Prior to joining Seix he was a senior high yield research analyst at J.P. Morgan Securities and was a member of Institutional Investor’s 2nd highest ranked high yield team. George received both a B.S. degree in Finance and Accounting and an M.B.A. degree in Finance from New York University.


Tenure Analysis

Category Low

0.0

Category High

22.3

Category Average

6.17

Category Mode

3.9