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Trending ETFs

Name

As of 12/16/2022

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

$9.53

$13.1 M

1.28%

$0.12

1.57%

Vitals

YTD Return

-5.2%

1 yr return

-5.7%

3 Yr Avg Return

-1.4%

5 Yr Avg Return

-0.7%

Net Assets

$13.1 M

Holdings in Top 10

70.8%

52 WEEK LOW AND HIGH

$9.5
$9.42
$10.11

Expenses

OPERATING FEES

Expense Ratio 1.57%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 110.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$100


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/16/2022

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

$9.53

$13.1 M

1.28%

$0.12

1.57%

SCBSX - Profile

Distributions

  • YTD Total Return -5.2%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.04%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Virtus Seix Short-Term Bond Fund
  • Fund Family Name
    Virtus
  • Inception Date
    Jun 20, 1995
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Michael Rieger

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of short- to medium-term investment grade U.S. Treasury, corporate debt, mortgage-backed and asset-backed securities. These securities may be rated investment grade by at least one nationally recognized statistical rating organization or may be unrated securities that the subadviser believes are of comparable quality. The fund’s investment in non-U.S. issuers may at times be significant.

There are no limits on the fund’s average-weighted maturity or on the remaining maturities of individual securities in which the fund may invest. The subadviser anticipates that the fund’s modified-adjusted duration will mirror that of the Bloomberg 1-3 Year Government/Credit Index, plus or minus 20%. For example, if the duration of the Bloomberg 1-3 Year Government/Credit Index is 1.5 years, the fund’s duration may be 1.2 to 1.8 years. As of December 31, 2021, the duration of the Bloomberg 1-3 Year U.S. Government/Credit Index was 1.92 years.

Duration measures a bond or fund’s sensitivity to interest rate or other changes (such as changes in a bond’s yield) and is expressed as a number of years. The higher the number, the greater the risk. Under normal circumstances, for example, if a portfolio has a duration of 5 years, its value will change by 5% if yields change by 1%. Shorter duration bonds generally result in lower expected volatility.

The subadviser may retain securities if the rating of the security falls below investment grade and the subadviser deems retention of the security to be in the best interests of the fund. The fund may invest a portion of its assets in securities that are restricted as to resale. As a result of its investment strategies, the fund’s portfolio turnover rate may be 100% or more.

In selecting securities for purchase and sale, the subadviser attempts to identify securities that are expected to offer a comparably better investment return for a given level of risk. For example, short-term bonds generally have better returns than money market instruments with a fairly modest increase in risk and/or volatility. The subadviser manages the fund from a total return perspective. That is, the subadviser makes day-to-day investment decisions for the fund with a view towards maximizing returns. The subadviser analyzes, among other things, yields, market sectors and credit

risk in an effort to identify attractive investments with attractive risk/reward trade-offs.

In addition, to implement its investment strategy, the fund may buy or sell derivative instruments (such as swaps, including credit default swaps, futures and options) to use as a substitute for a purchase or sale of a position in the underlying assets and/or as part of a strategy designed to reduce exposure to other risks, such as interest rate risk.

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SCBSX - Performance

Return Ranking - Trailing

Period SCBSX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.2% -16.5% -1.0% 21.47%
1 Yr -5.7% -16.4% -0.5% 31.97%
3 Yr -1.4%* -7.1% 2.4% 13.92%
5 Yr -0.7%* -10.7% 2.7% 11.99%
10 Yr N/A* -12.2% 2.8% 98.21%

* Annualized

Return Ranking - Calendar

Period SCBSX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.9% -15.4% 17.8% 70.49%
2022 1.4% -20.8% 7.0% 25.45%
2021 0.4% -36.2% 4.0% 83.21%
2020 -0.2% -50.6% 0.4% 16.77%
2019 N/A -0.7% 1.8% N/A

Total Return Ranking - Trailing

Period SCBSX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.2% -16.5% -1.4% 20.44%
1 Yr -5.7% -16.4% -0.5% 31.11%
3 Yr -1.4%* -7.1% 2.4% 13.92%
5 Yr -0.7%* -8.1% 2.7% 20.93%
10 Yr N/A* -10.7% 2.8% 97.77%

* Annualized

Total Return Ranking - Calendar

Period SCBSX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.9% -15.4% 17.7% 70.49%
2022 1.4% -20.8% 7.0% 25.45%
2021 0.4% -36.2% 4.0% 84.89%
2020 -0.2% -1.3% 1.6% 28.28%
2019 N/A -0.7% 4.2% N/A

NAV & Total Return History


SCBSX - Holdings

Concentration Analysis

SCBSX Category Low Category High SCBSX % Rank
Net Assets 13.1 M 5.81 M 70.5 B 98.19%
Number of Holdings 51 4 4919 90.26%
Net Assets in Top 10 9.3 M -23.9 M 9.45 B 93.07%
Weighting of Top 10 70.79% 1.7% 100.0% 4.55%

Top 10 Holdings

  1. United States Treasury Notes 0.375% 15.78%
  2. United States Treasury Notes 1% 13.86%
  3. United States Treasury Notes 0.375% 13.81%
  4. United States Treasury Notes 0.125% 13.59%
  5. United States Treasury Notes 0.5% 8.72%
  6. United States Treasury Notes 1.88% 8.13%
  7. United States Treasury Notes 1.12% 4.23%
  8. Dreyfus Government Cash Mgmt Instl 3.69%
  9. United States Treasury Notes 0.125% 3.12%
  10. United States Treasury Notes 1.75% 3.08%

Asset Allocation

Weighting Return Low Return High SCBSX % Rank
Bonds
95.39% 49.71% 194.71% 26.40%
Cash
4.61% -102.46% 39.20% 39.77%
Stocks
0.00% -0.66% 11.31% 39.44%
Preferred Stocks
0.00% 0.00% 25.64% 44.06%
Other
0.00% -2.59% 10.19% 31.02%
Convertible Bonds
0.00% 0.00% 27.71% 93.40%

Bond Sector Breakdown

Weighting Return Low Return High SCBSX % Rank
Government
60.15% 0.00% 73.63% 3.63%
Securitized
18.45% 0.00% 97.27% 73.10%
Corporate
16.78% 0.00% 100.00% 83.33%
Cash & Equivalents
4.61% 0.00% 44.09% 47.85%
Derivative
0.00% 0.00% 45.97% 43.23%
Municipal
0.00% 0.00% 17.46% 63.70%

Bond Geographic Breakdown

Weighting Return Low Return High SCBSX % Rank
US
89.76% 0.00% 165.96% 16.67%
Non US
5.63% 0.00% 72.71% 87.95%

SCBSX - Expenses

Operational Fees

SCBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.57% 0.02% 2.48% 2.85%
Management Fee 0.40% 0.00% 1.19% 73.15%
12b-1 Fee 1.00% 0.00% 1.00% 85.62%
Administrative Fee 0.10% 0.01% 0.50% 57.92%

Sales Fees

SCBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load 1.00% 0.50% 5.00% 24.64%

Trading Fees

SCBSX 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.

SCBSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 110.00% 0.00% 500.00% 70.32%

SCBSX - Distributions

Dividend Yield Analysis

SCBSX Category Low Category High SCBSX % Rank
Dividend Yield 1.28% 0.00% 6.30% 94.73%

Dividend Distribution Analysis

SCBSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

SCBSX Category Low Category High SCBSX % Rank
Net Income Ratio -0.04% -1.27% 4.98% 95.78%

Capital Gain Distribution Analysis

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

Distributions History

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SCBSX - Fund Manager Analysis

Managers

Michael Rieger


Start Date

Tenure

Tenure Rank

Mar 17, 2014

8.21

8.2%

Michael is a seasoned senior portfolio manager focused on the securitized sector. He is a member of the Seix Investment Policy Group. Before joining Seix, Michael was a portfolio manager at AIG Global Investment, where he managed an ABS portfolio covering the full rating spectrum in addition to non-agency senior residential MBS, adjustable rate senior mortgage portfolio and international AAA residential MBS portfolios. Michael began his investment management career at Aetna Life and Casualty's Portfolio Hedging Group as an analyst. Michael received an A.B. degree (Cum Laude) in Mathematics from Dartmouth College.

Perry Troisi


Start Date

Tenure

Tenure Rank

Mar 17, 2014

8.21

8.2%

Perry is a managing director and head of investment grade, where he focuses on corporate, government-related and securitized (residential mortgage-backed, commercial mortgage-backed, and asset-backed securities) asset classes. Perry is responsible for strategic oversight of the firm’s investment grade bond portfolio management activities and is the senior portfolio manager of all investment grade (taxable) portfolios. He is a member of the Seix Investment Policy Group. Before joining Seix in 1999, Perry was a portfolio manager at GRE Insurance Group, where he was responsible for all North American fixed income assets within the group. Prior to that, he was a portfolio manager and analyst at Home Insurance Company, focused primarily on mortgage-backed securities. Perry began his career as an account analyst at Goldman, Sachs & Company. He received a B.S. degree in Economics and Computer Coordinate w/Economics from Trinity College and an M.B.A. degree in Finance from New York University.

Carlos Catoya


Start Date

Tenure

Tenure Rank

Aug 01, 2015

6.84

6.8%

Carlos is a portfolio manager focused on credit and head of investment grade credit research. He is a member of the Seix Investment Policy Group. Before joining the firm, Carlos was a vice president of the global banking energy group at Royal Bank of Canada (RBC), and responsible for rating agency relationships. Previously, Carlos was director and group leader of Standard & Poor’s oil and gas corporate ratings team. Carlos was responsible for the ratings of independent oil and gas producers, refiner & marketers, and oilfield service companies. In addition, he led the corporate rating’s input into rating decisions for certain sovereign and selected project finance ratings. Prior to joining the rating agency, Carlos was a commercial banker having served in different analytical and lending relationship manager capacities as an officer at Credit Suisse US and First Fidelity (now Wells Fargo). Carlos received a B.S. degree (Magna Cum Laude) from Rutgers University, and received an M.B.A. degree in Finance (with concentration in International Business) & Accounting (with concentration in Financial Statement Analysis) from New York University.

Jonathan Yozzo


Start Date

Tenure

Tenure Rank

Aug 01, 2015

6.84

6.8%

Jon is a portfolio manager focused on credit and head of investment grade credit corporate bond trading and is a member of the Seix Investment Policy Group. Before joining the firm, he was a natural gas commodities broker at PVM Oil Associates responsible for brokerage of domestic natural gas products & foreign & domestic crude oil. Prior to that, Jon was a member of capital markets group & energy derivatives group at Prebon Yamane (U.S.A.) Inc. responsible for brokerage of short term eurodollars & forward rate agreements and sales associate at JPMorgan Securities, Inc. working primarily on the investment grade corporate sales desk. Jon received a B.S. degree in History from Syracuse University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.14 2.41