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Trending ETFs

Name

As of 05/12/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.30

$60.3 M

0.00%

1.74%

Vitals

YTD Return

1.3%

1 yr return

-5.5%

3 Yr Avg Return

-3.9%

5 Yr Avg Return

-2.8%

Net Assets

$60.3 M

Holdings in Top 10

11.4%

52 WEEK LOW AND HIGH

$8.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.74%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/12/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.30

$60.3 M

0.00%

1.74%

HIYYX - Profile

Distributions

  • YTD Total Return 1.3%
  • 3 Yr Annualized Total Return -3.9%
  • 5 Yr Annualized Total Return -2.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.60%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AB High Yield Portfolio
  • Fund Family Name
    AllianceBernstein
  • Inception Date
    Jul 26, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Gershon Distenfeld

Fund Description

At least 80% of the Fund’s net assets will under normal circumstances be invested in fixed-income securities rated Ba1 or lower by Moody’s Investors Service (“Moody’s”) or BB+ or lower by S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”) (commonly known as “junk bonds”), unrated securities considered by the Adviser to be of comparable quality, and related derivatives. The Fund may invest in fixed-income securities with a range of maturities from short- to long-term. The Fund may also invest in equity securities.
In selecting securities for purchase or sale by the Fund, the Adviser attempts to take advantage of inefficiencies that it believes exist in the global debt markets. These inefficiencies arise from investor behavior, market complexity, and the investment limitations to which investors are subject. The Adviser combines quantitative analysis with fundamental credit and economic research in seeking to exploit these inefficiencies.
The Fund will most often invest in securities of U.S. issuers, but may also purchase fixed-income securities of foreign issuers, including securities denominated in foreign currencies and securities of emerging market issuers. The Adviser may or may not hedge any foreign currency exposure through the use of currency-related derivatives.
The Fund expects to use derivatives, such as options, futures contracts, forwards and swaps, to a significant extent, subject to the limits of applicable law. Derivatives may provide a more efficient and economical exposure to market segments than direct investments, and may also be a more efficient way to alter the Fund’s exposure. The Fund may, for example, use credit default and interest rate swaps to gain exposure to the fixed-income markets or particular fixed-income securities and, as noted above, may use currency-related derivatives. The Adviser may use derivatives to effectively leverage the Fund by creating aggregate market exposure substantially in excess of the Fund’s net assets.
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HIYYX - Performance

Return Ranking - Trailing

Period HIYYX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -6.4% 8.9% 87.52%
1 Yr -5.5% -14.6% 10.3% 95.66%
3 Yr -3.9%* -12.2% 71.3% 68.95%
5 Yr -2.8%* -14.4% 37.6% 59.32%
10 Yr N/A* -9.2% 19.0% 6.68%

* Annualized

Return Ranking - Calendar

Period HIYYX Return Category Return Low Category Return High Rank in Category (%)
2023 -17.6% -33.4% 3.6% 83.80%
2022 0.4% -4.3% 5.4% 31.62%
2021 0.8% -8.4% 70.9% 18.69%
2020 2.1% -1.1% 5.1% 39.17%
2019 -1.6% -4.0% 0.1% 44.12%

Total Return Ranking - Trailing

Period HIYYX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -14.3% 8.8% 84.33%
1 Yr -5.5% -18.1% 5.8% 93.20%
3 Yr -3.9%* -12.2% 71.3% 68.77%
5 Yr -2.1%* -14.4% 37.6% 36.47%
10 Yr N/A* -9.2% 19.0% 6.45%

* Annualized

Total Return Ranking - Calendar

Period HIYYX Return Category Return Low Category Return High Rank in Category (%)
2023 -17.6% -33.4% 3.6% 83.80%
2022 0.4% -4.3% 5.4% 31.62%
2021 0.8% -8.4% 70.9% 18.69%
2020 2.3% -1.0% 5.1% 19.26%
2019 -0.7% -4.0% 0.2% 17.89%

NAV & Total Return History


HIYYX - Holdings

Concentration Analysis

HIYYX Category Low Category High HIYYX % Rank
Net Assets 60.3 M 1.47 M 26.2 B 87.73%
Number of Holdings 842 2 2736 11.26%
Net Assets in Top 10 6.83 M -492 M 2.55 B 91.34%
Weighting of Top 10 11.40% 3.0% 100.0% 48.48%

Top 10 Holdings

  1. 5 Year Treasury Note Future Sept 21 7.22%
  2. 5 Year Treasury Note Future Sept 21 7.22%
  3. 5 Year Treasury Note Future Sept 21 7.22%
  4. 5 Year Treasury Note Future Sept 21 7.22%
  5. 5 Year Treasury Note Future Sept 21 7.22%
  6. 5 Year Treasury Note Future Sept 21 7.22%
  7. 5 Year Treasury Note Future Sept 21 7.22%
  8. 5 Year Treasury Note Future Sept 21 7.22%
  9. 5 Year Treasury Note Future Sept 21 7.22%
  10. 5 Year Treasury Note Future Sept 21 7.22%

Asset Allocation

Weighting Return Low Return High HIYYX % Rank
Bonds
102.07% 0.00% 154.38% 3.59%
Stocks
1.18% -0.60% 52.82% 28.30%
Other
0.91% -63.70% 32.06% 9.96%
Convertible Bonds
0.75% 0.00% 17.89% 64.65%
Preferred Stocks
0.72% 0.00% 14.10% 20.20%
Cash
-5.62% -52.00% 100.00% 96.25%

Stock Sector Breakdown

Weighting Return Low Return High HIYYX % Rank
Energy
60.09% 0.00% 100.00% 36.18%
Consumer Defense
15.94% 0.00% 100.00% 10.34%
Basic Materials
12.72% 0.00% 100.00% 13.70%
Communication Services
3.63% 0.00% 99.99% 43.41%
Industrials
3.33% 0.00% 100.00% 20.67%
Technology
2.37% 0.00% 34.19% 15.25%
Consumer Cyclical
1.91% 0.00% 100.00% 31.27%
Utilities
0.00% 0.00% 100.00% 91.99%
Real Estate
0.00% 0.00% 86.71% 93.80%
Healthcare
0.00% 0.00% 30.07% 91.99%
Financial Services
0.00% 0.00% 100.00% 92.25%

Stock Geographic Breakdown

Weighting Return Low Return High HIYYX % Rank
US
1.18% -0.60% 47.59% 27.71%
Non US
0.00% -0.01% 5.26% 92.35%

Bond Sector Breakdown

Weighting Return Low Return High HIYYX % Rank
Corporate
69.10% 0.00% 129.69% 95.52%
Government
12.76% 0.00% 99.07% 2.17%
Cash & Equivalents
10.49% 0.00% 99.98% 3.90%
Derivative
7.52% 0.00% 45.95% 4.05%
Securitized
0.12% 0.00% 97.24% 36.27%
Municipal
0.00% 0.00% 4.66% 94.08%

Bond Geographic Breakdown

Weighting Return Low Return High HIYYX % Rank
US
85.64% 0.00% 150.64% 17.46%
Non US
16.43% 0.00% 118.12% 23.23%

HIYYX - Expenses

Operational Fees

HIYYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.74% 0.03% 18.97% 15.90%
Management Fee 0.45% 0.00% 1.84% 21.29%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

HIYYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

HIYYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

HIYYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 255.00% 9.80%

HIYYX - Distributions

Dividend Yield Analysis

HIYYX Category Low Category High HIYYX % Rank
Dividend Yield 0.00% 0.00% 36.66% 8.75%

Dividend Distribution Analysis

HIYYX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

HIYYX Category Low Category High HIYYX % Rank
Net Income Ratio 4.60% -2.39% 14.30% 40.09%

Capital Gain Distribution Analysis

HIYYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

HIYYX - Fund Manager Analysis

Managers

Gershon Distenfeld


Start Date

Tenure

Tenure Rank

Jan 01, 2014

8.42

8.4%

Gershon M. Distenfeld is a Senior Vice President and Director of Credit at AB, responsible for overseeing the investment strategy and management of all investment-grade and high-yield corporate bond portfolios and associated portfolio-management teams and Co-Head of Fixed Income. Strategies under his purview span the credit and risk spectrum, from short-duration investment-grade corporate bond portfolios to regional and global high-yield portfolios, encompassing a range of investment approaches, objectives and alpha targets, from income-oriented buy-and-hold strategies to active multi-sector total return strategies, and including both publicly traded securities and private placements in developed and emerging markets. Distenfeld is also a Partner of the firm. He co-manages AB’s multiple-award-winning High Income Fund, named “Best Fund over 10 Years” by Lipper from 2012 to 2015, and the multiple-award-winning Global High Yield and American Income portfolios, flagship fixed-income funds on the firm’s Luxembourg-domiciled fund platform for non-US investors. Distenfeld also designed and is one of the lead portfolio managers for AB’s Multi-Sector Credit Strategy, which invests across investment-grade and high-yield credit sectors globally. He is the author of a number of published papers, including one on high-yield bonds being attractive substitutes for equities and another on the often-misunderstood differences between high-yield bonds and loans. His blog “High Yield Won’t Bubble Over” (January 2013) is one of AB’s all-time most-read blogs. Distenfeld joined AB in 1998 as a fixed-income business analyst, and served as a high-yield trader (1999–2002) and high-yield portfolio manager (2002–2006) before being named director of High Yield in 2006. He began his career as an operations analyst supporting Emerging Markets Debt at Lehman Brothers. Distenfeld holds a BS in finance from the Sy Syms School of Business at Yeshiva University, and is a CFA charterholder. Location: New York

William Smith


Start Date

Tenure

Tenure Rank

Jan 31, 2018

4.33

4.3%

Will Smith is a Senior Vice President and Director of US High Yield Credit, one of the lead portfolio managers for multi-sector credit strategy. He is also a member of the High Income Portfolio Management Team. Mr. Smith joined AB in 2012 and spent 2014 in London as part of the European High Yield Portfolio Management Team. He started his career with UBS Investment Bank in 2009, working first as an analyst with the Credit Risk team and then later on the Fixed Income sales and trading desk. Mr. Smith holds a BA in economics from Boston College and is a CFA charterholder.

Robert Schwartz


Start Date

Tenure

Tenure Rank

Jan 20, 2022

0.36

0.4%

Robert Schwartz is a Senior Vice President and Corporate Credit Research Analyst, covering specialty finance, automotive, aerospace/defense and industrial companies. Prior to joining AB in 2012, he analyzed the same industries as a senior credit analyst at Citadel Investment Group and Bell Point Capital Management. Before beginning his investing career in 2005, Schwartz was a project leader with Boston Consulting Group, where he advised industrial and financial companies on corporate strategy. He started his career as an automotive engineer working in Detroit, where he was awarded two patents. Schwartz holds a BS in mechanical engineering (summa cum laude) from the University of Michigan and an MBA (with high distinction) from the University of Michigan’s Stephen M. Ross School of Business. Location: New York

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17