Harbor High-Yield Bond Instl
Name
As of 02/24/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.4%
1 yr return
-9.9%
3 Yr Avg Return
-4.5%
5 Yr Avg Return
-3.0%
Net Assets
$296 M
Holdings in Top 10
8.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.65%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 126.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 02/24/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
HYFAX - Profile
Distributions
- YTD Total Return 0.4%
- 3 Yr Annualized Total Return -4.5%
- 5 Yr Annualized Total Return -2.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.12%
- Dividend Yield 5.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameHarbor High Yield Bond Fund
-
Fund Family NameHarbor
-
Inception DateNov 29, 2002
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerMark Shenkman
Fund Description
HYFAX - Performance
Return Ranking - Trailing
Period | HYFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.4% | -39.9% | 5.4% | 87.64% |
1 Yr | -9.9% | -24.7% | 21.3% | 36.58% |
3 Yr | -4.5%* | -15.4% | 65.3% | 53.14% |
5 Yr | -3.0%* | -13.6% | 36.9% | 54.59% |
10 Yr | -2.6%* | -9.3% | 16.2% | 72.57% |
* Annualized
Return Ranking - Calendar
Period | HYFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -13.6% | -44.3% | 3.7% | 28.31% |
2022 | -0.2% | -56.9% | 9.2% | 64.43% |
2021 | 0.1% | -53.7% | 70.9% | 48.49% |
2020 | 1.7% | -33.7% | 5.1% | 60.90% |
2019 | -1.6% | -9.4% | 12.0% | 42.43% |
Total Return Ranking - Trailing
Period | HYFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.4% | -39.9% | 5.4% | 88.86% |
1 Yr | -9.9% | -24.7% | 22.2% | 37.19% |
3 Yr | -4.5%* | -15.4% | 65.3% | 54.04% |
5 Yr | -2.4%* | -13.6% | 36.9% | 43.08% |
10 Yr | 0.8%* | -9.3% | 16.2% | 19.32% |
* Annualized
Total Return Ranking - Calendar
Period | HYFAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -13.6% | -44.3% | 3.7% | 28.59% |
2022 | -0.2% | -56.9% | 9.2% | 64.29% |
2021 | 0.1% | -53.7% | 70.9% | 48.49% |
2020 | 1.7% | -33.7% | 5.1% | 65.26% |
2019 | -1.1% | -9.4% | 12.0% | 28.79% |
NAV & Total Return History
HYFAX - Holdings
Concentration Analysis
HYFAX | Category Low | Category High | HYFAX % Rank | |
---|---|---|---|---|
Net Assets | 296 M | 1.47 M | 26.2 B | 57.97% |
Number of Holdings | 525 | 2 | 2736 | 25.10% |
Net Assets in Top 10 | 26.2 M | -492 M | 2.55 B | 65.05% |
Weighting of Top 10 | 8.49% | 3.0% | 100.0% | 75.07% |
Top 10 Holdings
- Altice France S.A 8.125% 1.40%
- Verscend Escrow Corp 9.75% 1.38%
- Stars Group Holdings BV / Stars Group (US) Co-Borrower LLC 7% 1.10%
- Centene Corporation 3% 1.10%
- CSC Holdings, LLC 10.88% 1.08%
- Tempo Acquisition LLC / Tempo Acquisition Fin Corp 6.75% 1.02%
- Dell International L.L.C. and EMC Corporation 7.125% 0.99%
- Bausch Health Companies Inc 7% 0.95%
- LifePoint Health, Inc 9.75% 0.87%
- Altice Financing S.A. 7.5% 0.82%
Asset Allocation
Weighting | Return Low | Return High | HYFAX % Rank | |
---|---|---|---|---|
Bonds | 91.56% | 0.00% | 154.38% | 71.47% |
Convertible Bonds | 5.76% | 0.00% | 17.89% | 3.68% |
Cash | 2.69% | -52.00% | 100.00% | 53.22% |
Stocks | 0.00% | -0.60% | 52.82% | 84.42% |
Preferred Stocks | 0.00% | 0.00% | 14.10% | 72.93% |
Other | 0.00% | -63.70% | 32.06% | 64.65% |
Bond Sector Breakdown
Weighting | Return Low | Return High | HYFAX % Rank | |
---|---|---|---|---|
Corporate | 97.31% | 0.00% | 100.00% | 28.29% |
Cash & Equivalents | 2.69% | 0.00% | 99.98% | 58.55% |
Derivative | 0.00% | 0.00% | 45.95% | 61.45% |
Securitized | 0.00% | 0.00% | 97.24% | 72.50% |
Municipal | 0.00% | 0.00% | 1.17% | 53.95% |
Government | 0.00% | 0.00% | 99.07% | 67.24% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | HYFAX % Rank | |
---|---|---|---|---|
US | 78.65% | 0.00% | 150.64% | 67.02% |
Non US | 12.91% | 0.00% | 96.17% | 47.96% |
HYFAX - Expenses
Operational Fees
HYFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.65% | 0.02% | 3.87% | 68.93% |
Management Fee | 0.60% | 0.00% | 1.84% | 67.34% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
HYFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
HYFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 62.16% |
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.
HYFAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 126.00% | 1.00% | 327.00% | 95.01% |
HYFAX - Distributions
Dividend Yield Analysis
HYFAX | Category Low | Category High | HYFAX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.95% | 0.00% | 39.68% | 17.91% |
Dividend Distribution Analysis
HYFAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
HYFAX | Category Low | Category High | HYFAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.12% | -2.39% | 14.30% | 64.54% |
Capital Gain Distribution Analysis
HYFAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 19, 2022 | $0.081 | OrdinaryDividend |
Nov 29, 2022 | $0.038 | OrdinaryDividend |
Oct 28, 2022 | $0.037 | OrdinaryDividend |
Sep 29, 2022 | $0.038 | OrdinaryDividend |
Aug 30, 2022 | $0.042 | OrdinaryDividend |
Jul 28, 2022 | $0.039 | OrdinaryDividend |
Jun 29, 2022 | $0.041 | OrdinaryDividend |
May 26, 2022 | $0.035 | OrdinaryDividend |
Apr 28, 2022 | $0.033 | OrdinaryDividend |
Mar 30, 2022 | $0.041 | OrdinaryDividend |
Feb 25, 2022 | $0.032 | OrdinaryDividend |
Jan 28, 2022 | $0.030 | OrdinaryDividend |
Dec 30, 2021 | $0.057 | OrdinaryDividend |
Nov 29, 2021 | $0.033 | OrdinaryDividend |
Oct 28, 2021 | $0.034 | OrdinaryDividend |
Sep 29, 2021 | $0.034 | OrdinaryDividend |
Aug 30, 2021 | $0.036 | OrdinaryDividend |
Jul 29, 2021 | $0.036 | OrdinaryDividend |
Jun 29, 2021 | $0.038 | OrdinaryDividend |
May 27, 2021 | $0.036 | OrdinaryDividend |
Apr 29, 2021 | $0.035 | OrdinaryDividend |
Mar 30, 2021 | $0.108 | OrdinaryDividend |
Dec 17, 2020 | $0.143 | OrdinaryDividend |
Sep 29, 2020 | $0.114 | OrdinaryDividend |
Jun 29, 2020 | $0.118 | OrdinaryDividend |
Mar 30, 2020 | $0.130 | OrdinaryDividend |
Dec 16, 2019 | $0.149 | OrdinaryDividend |
Sep 26, 2019 | $0.126 | OrdinaryDividend |
Jun 27, 2019 | $0.129 | OrdinaryDividend |
Mar 28, 2019 | $0.144 | OrdinaryDividend |
Dec 17, 2018 | $0.166 | OrdinaryDividend |
Jun 28, 2018 | $0.141 | OrdinaryDividend |
Mar 28, 2018 | $0.142 | OrdinaryDividend |
Dec 18, 2017 | $0.159 | OrdinaryDividend |
Sep 28, 2017 | $0.139 | OrdinaryDividend |
Jun 29, 2017 | $0.142 | OrdinaryDividend |
Mar 30, 2017 | $0.133 | OrdinaryDividend |
Dec 19, 2016 | $0.162 | OrdinaryDividend |
Sep 29, 2016 | $0.127 | OrdinaryDividend |
Jun 29, 2016 | $0.127 | OrdinaryDividend |
Mar 30, 2016 | $0.112 | OrdinaryDividend |
Dec 17, 2015 | $0.157 | OrdinaryDividend |
Sep 24, 2015 | $0.128 | OrdinaryDividend |
Jun 29, 2015 | $0.133 | OrdinaryDividend |
Mar 30, 2015 | $0.137 | OrdinaryDividend |
Sep 25, 2014 | $0.133 | OrdinaryDividend |
Jun 26, 2014 | $0.152 | OrdinaryDividend |
Mar 27, 2014 | $0.124 | OrdinaryDividend |
Sep 26, 2013 | $0.144 | OrdinaryDividend |
Jun 27, 2013 | $0.149 | OrdinaryDividend |
Mar 28, 2013 | $0.123 | OrdinaryDividend |
Sep 27, 2012 | $0.142 | OrdinaryDividend |
Jun 28, 2012 | $0.149 | OrdinaryDividend |
Mar 29, 2012 | $0.136 | OrdinaryDividend |
Dec 16, 2011 | $0.215 | OrdinaryDividend |
Sep 29, 2011 | $0.166 | OrdinaryDividend |
Jun 29, 2011 | $0.157 | OrdinaryDividend |
Mar 31, 2011 | $0.157 | OrdinaryDividend |
Dec 17, 2010 | $0.202 | OrdinaryDividend |
Sep 29, 2010 | $0.134 | OrdinaryDividend |
Jun 29, 2010 | $0.175 | OrdinaryDividend |
Mar 30, 2010 | $0.171 | OrdinaryDividend |
Dec 18, 2009 | $0.220 | OrdinaryDividend |
Sep 29, 2009 | $0.153 | OrdinaryDividend |
Jun 29, 2009 | $0.116 | OrdinaryDividend |
Mar 30, 2009 | $0.112 | OrdinaryDividend |
Dec 19, 2008 | $0.116 | OrdinaryDividend |
Sep 29, 2008 | $0.165 | OrdinaryDividend |
Jun 27, 2008 | $0.153 | OrdinaryDividend |
Mar 28, 2008 | $0.194 | OrdinaryDividend |
Dec 19, 2007 | $0.184 | OrdinaryDividend |
Sep 27, 2007 | $0.199 | OrdinaryDividend |
Jun 28, 2007 | $0.167 | OrdinaryDividend |
Mar 29, 2007 | $0.185 | OrdinaryDividend |
Dec 19, 2006 | $0.158 | OrdinaryDividend |
Sep 28, 2006 | $0.199 | OrdinaryDividend |
Jun 29, 2006 | $0.189 | OrdinaryDividend |
Mar 30, 2006 | $0.199 | OrdinaryDividend |
Dec 20, 2005 | $0.205 | OrdinaryDividend |
Sep 29, 2005 | $0.189 | OrdinaryDividend |
Jun 29, 2005 | $0.181 | OrdinaryDividend |
Mar 30, 2005 | $0.184 | OrdinaryDividend |
Dec 30, 2004 | $0.128 | OrdinaryDividend |
Sep 29, 2004 | $0.256 | OrdinaryDividend |
Jun 29, 2004 | $0.178 | OrdinaryDividend |
Mar 30, 2004 | $0.180 | OrdinaryDividend |
Dec 30, 2003 | $0.206 | OrdinaryDividend |
Jun 27, 2003 | $0.160 | OrdinaryDividend |
Mar 28, 2003 | $0.139 | OrdinaryDividend |
Dec 30, 2002 | $0.009 | OrdinaryDividend |
HYFAX - Fund Manager Analysis
Managers
Mark Shenkman
Start Date
Tenure
Tenure Rank
Nov 29, 2002
19.52
19.5%
Mark R. Shenkman founded Shenkman Capital Management, Inc. in 1985. With 46 years of investment experience, and 38 years of high yield investment experience, he is considered one of the pioneers of the high yield bond and loan markets. Prior to founding Shenkman in 1985, Mr. Shenkman was President and Chief Investment Officer of First Investors Asset Management in New York. He also was Co-Manager and Vice President of the High Yield Bond Department at Lehman Brothers Kuhn Loeb in New York, where he established one of Wall Street’s earliest departments dedicated to the research, selling and trading of high yield securities. Mr. Shenkman was a research analyst and an equity portfolio manager at Fidelity Management and Research Company in Boston. From 1977 to 1979, he managed the first high yield bond mutual funds at Fidelity. Additionally, Mr. Shenkman is Chairman of the Board of Directors of the UCONN Foundation. He is a member of the Board of Trustees at The George Washington University; Vice Chairman of the Board at Wilbraham & Monson Academy since 1969; and he currently serves on the College of William and Mary, Mason School of Business Board of Advisors. He is also on the Board of Directors of the Hillel Foundation in Washington D.C. Mr. Shenkman received a BA in Political Science from the University of Connecticut (1965) and an MBA from The George Washington University (1967). Mr. Shenkman also received a Doctor of Humane Letters, honoris causa, from the University of Connecticut (2007).
Justin Slatky
Start Date
Tenure
Tenure Rank
Dec 31, 2012
9.42
9.4%
Justin W. Slatky joined Shenkman Capital in 2011. He has 21 years of investing experience in high yield and distressed securities. Prior to joining Shenkman Capital, Mr. Slatky was Co-Head and Managing Director of the Distressed Bond business in New York and London for Goldman Sachs. He was also a member of the Credit Investment Committee charged with reviewing proprietary investments within the Credit Department. Before joining the distressed bond business in 2002, Mr. Slatky was a telecom high yield analyst and a recipient of Institutional Investor’s Runner-Up award. He joined Goldman Sachs from Credit Suisse First Boston in 1999, where he worked as a high yield analyst as part of an II ranked telecom team. Mr. Slatky graduated magna cum laude with a BS in Economics (1998) and an MBA (1999) from The Wharton School at the University of Pennsylvania.
Eric Dobbin
Start Date
Tenure
Tenure Rank
Dec 31, 2012
9.42
9.4%
Eric Dobbin joined Shenkman Capital in April 2006, and has 32 years of investment experience. Previously, he worked for Merrill Lynch as Managing Director, Head of High Yield and Distressed Bond Trading, from 2000 to 2006. From 1995 to 2000, Mr. Dobbin was a Portfolio Manager at Hamilton Partners. From 1989 to 1995 he worked for Travelers/Smith Barney in Investment Banking, as Head of High Yield Research and then as Portfolio Manager. Mr. Dobbin was Manager of Financial Analysis at Allied Signal from 1985 to 1989. Mr. Dobbin received his BA in Economics (1984) and his MBA (1985) from Duke University.
Robert Kricheff
Start Date
Tenure
Tenure Rank
Mar 01, 2015
7.25
7.3%
Bob Kricheff joined Shenkman Capital in 2013. He has 33 years of investment research and strategy experience in leveraged finance. Prior to joining Shenkman Capital, Mr. Kricheff was Managing Director and Head of the Americas High Yield Sector Strategy for Credit Suisse. During his distinguished tenure at Credit Suisse, he oversaw U.S., European and Emerging Market credit research as well as high yield sector and portfolio strategy. He also worked as a high yield analyst where he covered the media, cable, satellite, telecom, gaming, and entertainment sectors. His work covered bonds, loans and CDS. Additionally, Mr. Kricheff has published two textbooks and two e-books on topics related to leveraged finance and its analysis and has most recently published a book on technology’s impact on investment economics. He has been invited to speak to graduate students at University of London SOAS, Columbia University and New York University. Mr. Kricheff received a BA degree in Economics from New York University and a MS in Financial Economics from the University of London’s School of Oriental and African Studies. Bob is also on the Board of Directors of Symphony Space, a non-profit committed to improving literacy and education through the arts. He is also a volunteer at Center for Food Action, a non-profit dedicated to preventing hunger and homelessness.
Neil Wechsler
Start Date
Tenure
Tenure Rank
Mar 01, 2017
5.25
5.3%
Neil Wechsler joined Shenkman Capital in 2002. He has 22 years of investment experience including 17 years of high yield research experience. Prior to joining Shenkman Capital, Neil was a Summer Associate at Goldman Sachs Asset Management, where he worked on their high yield and investment grade research teams. In 2000, Neil was an Associate at Credit Lyonnais Securities in their Asset Backed Securities group. From 1998 to 2000, Neil worked at Duff & Phelps Credit Rating Co. as an Analyst in their Structured Finance group. Neil received a BS degree in Business Administration from the University at Albany (1996) and a MBA from New York University (2002). Mr. Wechsler is a CFA charterholder (2003) and a member of the CFA Institute and CFA Society New York.
Jordan Barrow
Start Date
Tenure
Tenure Rank
May 01, 2020
2.08
2.1%
Jordan Barrow joined Shenkman Capital in 2004. He has over 16 years of leveraged finance investing experience and has been a portfolio manager since 2011. Mr. Barrow has experience managing portfolios for the firm’s High Yield, Short Duration, and Convertible strategies. He started his career as a high yield research analyst specializing in Healthcare and has also covered Retail, Technology and Service Industries. In 2010, Mr. Barrow was instrumental in launching the firm’s Short Duration High Yield Strategy. He was also key in the launches of the Global Convertible and Investment Grade Convertible Strategies, in 2015 and 2014, respectively. Mr. Barrow is a member of Shenkman Capital’s Risk Committee and currently serves on the board of the Friends of Mount Sinai Health System. Mr. Barrow received a BA degree in Economics and International Relations from the University of Pennsylvania. In addition, he is a CFA charterholder (2007).
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.13 | 37.79 | 7.08 | 2.92 |