Virtus Newfleet Short Duration High Income Fund
Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.5%
1 yr return
10.6%
3 Yr Avg Return
3.4%
5 Yr Avg Return
4.7%
Net Assets
$592 M
Holdings in Top 10
17.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.78%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 69.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
ASHIX - Profile
Distributions
- YTD Total Return 1.5%
- 3 Yr Annualized Total Return 3.4%
- 5 Yr Annualized Total Return 4.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.50%
- Dividend Yield 6.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVirtus Newfleet Short Duration High Income Fund
-
Fund Family NameAllianz Funds
-
Inception DateFeb 01, 2017
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJames Dudnick
Fund Description
The fund seeks to achieve its investment objective by normally investing at least 80% of its net assets (plus borrowings made for investment purposes) in debt securities issued by public and private companies, which are rated below investment grade (rated Ba or below by Moody’s or BB or below by S&P or Fitch, or if unrated, determined by the fund’s subadviser to be of comparable quality) (sometimes referred to as “high-yield securities” or “junk bonds”), while maintaining an average duration of less than three years, and in derivatives and other synthetic instruments that have economic characteristics similar to such debt securities. Derivatives transactions may have the effect of either magnifying or limiting the fund’s gains and losses. To illustrate the effects of changes in interest rates on a portfolio with a similar average duration, generally, a portfolio with an average duration of three years would be expected to fall approximately 3% if interest rates rose by one percentage point.
The fund may invest up to 20% of its assets in bank loans. The fund may invest up to 20% of its assets in non-U.S. securities, which will typically be U.S. dollar-denominated but may also include securities denominated in non-U.S. currencies. The fund will invest less than 10% of its net assets in securities rated CCC or below by Standard and Poor’s.
The fund invests in high yield securities and bank loans, seeking to generate investment income while protecting from adverse market conditions and prioritizing capital preservation.
The portfolio managers apply a disciplined investment approach, making use of fundamental research, to construct a portfolio for investment. The subadviser uses an investment process that focuses on adding value through issue selection, sector/industry selection and opportunistic trading. The fund will generally overweight those sectors and industries where the subadviser identifies well-valued companies whose business profiles are viewed to be improving. In selecting specific debt instruments for investment, the portfolio managers may look to such factors as the issuer’s creditworthiness, the investment’s yield in relation to its credit quality and the investment’s relative value in relation to the high yield market. The portfolio managers seek to construct a portfolio with lower volatility than the broader high yield market in part through the fund’s approach to duration and credit quality. The portfolio managers may sell a security for a variety of reasons, such as to invest in a company offering superior investment opportunities.
The fund may utilize foreign currency exchange contracts, options, stock index futures contracts, warrants and other derivative instruments. Although the fund did not invest significantly in derivative instruments as of the most recent fiscal year end, it may do so at any time.
ASHIX - Performance
Return Ranking - Trailing
Period | ASHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.5% | -7.6% | 4.6% | 47.71% |
1 Yr | 10.6% | -7.8% | 16.0% | 18.96% |
3 Yr | 3.4%* | -16.8% | 20.0% | 7.25% |
5 Yr | 4.7%* | -12.2% | 36.5% | 8.73% |
10 Yr | 4.1%* | -5.1% | 19.4% | 12.82% |
* Annualized
Return Ranking - Calendar
Period | ASHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.3% | -4.7% | 14.3% | 45.81% |
2022 | -10.7% | -33.4% | 3.6% | 8.29% |
2021 | -0.3% | -8.4% | 8.2% | 60.13% |
2020 | -0.3% | -13.2% | 302.7% | 54.97% |
2019 | 2.3% | -4.4% | 13.3% | 97.19% |
Total Return Ranking - Trailing
Period | ASHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.5% | -7.6% | 4.6% | 47.71% |
1 Yr | 10.6% | -7.8% | 16.0% | 18.96% |
3 Yr | 3.4%* | -16.8% | 20.0% | 7.25% |
5 Yr | 4.7%* | -12.2% | 36.5% | 8.73% |
10 Yr | 4.1%* | -5.1% | 19.4% | 12.82% |
* Annualized
Total Return Ranking - Calendar
Period | ASHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.6% | -4.7% | 17.8% | 38.55% |
2022 | -5.2% | -33.4% | 47.8% | 6.06% |
2021 | 5.4% | -8.4% | 12.4% | 41.20% |
2020 | 6.0% | -9.6% | 325.6% | 36.99% |
2019 | 7.4% | 0.9% | 19.4% | 94.02% |
NAV & Total Return History
ASHIX - Holdings
Concentration Analysis
ASHIX | Category Low | Category High | ASHIX % Rank | |
---|---|---|---|---|
Net Assets | 592 M | 1.45 M | 23.6 B | 45.81% |
Number of Holdings | 141 | 2 | 2736 | 86.83% |
Net Assets in Top 10 | 106 M | -492 M | 4.55 B | 43.49% |
Weighting of Top 10 | 17.24% | 4.2% | 146.9% | 28.73% |
Top 10 Holdings
- CVR Energy Inc 2.05%
- Shift4 Payments LLC / Shift4 Payments Finance Sub Inc 1.94%
- Uber Technologies Inc 1.74%
- Fly Leasing Ltd 1.73%
- DISH DBS Corp 1.73%
- Directv Financing LLC / Directv Financing Co-Obligor Inc 1.73%
- Sunnova Energy Corp 1.64%
- APX Group Inc 1.59%
- LSB Industries Inc 1.59%
- Millennium Escrow Corp 1.50%
Asset Allocation
Weighting | Return Low | Return High | ASHIX % Rank | |
---|---|---|---|---|
Bonds | 95.16% | -3.13% | 154.38% | 42.65% |
Cash | 4.84% | -52.00% | 48.07% | 38.41% |
Convertible Bonds | 0.16% | 0.00% | 17.89% | 91.11% |
Stocks | 0.00% | 0.00% | 99.54% | 95.73% |
Preferred Stocks | 0.00% | 0.00% | 7.88% | 92.06% |
Other | 0.00% | -63.70% | 102.57% | 75.87% |
Bond Sector Breakdown
Weighting | Return Low | Return High | ASHIX % Rank | |
---|---|---|---|---|
Corporate | 96.24% | 0.00% | 100.00% | 39.21% |
Cash & Equivalents | 1.23% | 0.00% | 48.07% | 68.89% |
Derivative | 0.00% | -15.04% | 42.26% | 74.44% |
Securitized | 0.00% | 0.00% | 97.24% | 94.76% |
Municipal | 0.00% | 0.00% | 1.17% | 87.78% |
Government | 0.00% | 0.00% | 99.07% | 90.48% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | ASHIX % Rank | |
---|---|---|---|---|
US | 95.16% | -3.13% | 129.21% | 31.59% |
Non US | 0.00% | 0.00% | 98.19% | 92.86% |
ASHIX - Expenses
Operational Fees
ASHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.78% | 0.02% | 38.33% | 68.15% |
Management Fee | 0.48% | 0.00% | 1.84% | 25.79% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.50% | 63.86% |
Sales Fees
ASHIX 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
ASHIX 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.
ASHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 69.00% | 1.00% | 255.00% | 64.53% |
ASHIX - Distributions
Dividend Yield Analysis
ASHIX | Category Low | Category High | ASHIX % Rank | |
---|---|---|---|---|
Dividend Yield | 6.95% | 0.00% | 11.71% | 20.82% |
Dividend Distribution Analysis
ASHIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
ASHIX | Category Low | Category High | ASHIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.50% | -2.39% | 14.30% | 43.30% |
Capital Gain Distribution Analysis
ASHIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 18, 2024 | $0.078 | OrdinaryDividend |
Mar 21, 2024 | $0.078 | OrdinaryDividend |
Feb 22, 2024 | $0.076 | OrdinaryDividend |
Jan 18, 2024 | $0.075 | OrdinaryDividend |
Dec 21, 2023 | $0.117 | OrdinaryDividend |
Nov 16, 2023 | $0.075 | OrdinaryDividend |
Oct 19, 2023 | $0.075 | OrdinaryDividend |
Sep 21, 2023 | $0.075 | OrdinaryDividend |
Aug 17, 2023 | $0.074 | OrdinaryDividend |
Jul 20, 2023 | $0.074 | OrdinaryDividend |
Jun 22, 2023 | $0.065 | OrdinaryDividend |
May 18, 2023 | $0.065 | OrdinaryDividend |
Apr 20, 2023 | $0.064 | OrdinaryDividend |
Mar 16, 2023 | $0.064 | OrdinaryDividend |
Feb 16, 2023 | $0.064 | OrdinaryDividend |
Jan 19, 2023 | $0.064 | OrdinaryDividend |
Dec 22, 2022 | $0.110 | OrdinaryDividend |
Nov 17, 2022 | $0.062 | OrdinaryDividend |
Oct 20, 2022 | $0.063 | OrdinaryDividend |
Sep 22, 2022 | $0.063 | OrdinaryDividend |
Aug 18, 2022 | $0.063 | OrdinaryDividend |
Jul 21, 2022 | $0.063 | OrdinaryDividend |
Jun 16, 2022 | $0.063 | OrdinaryDividend |
May 19, 2022 | $0.063 | OrdinaryDividend |
Apr 22, 2022 | $0.063 | OrdinaryDividend |
Mar 17, 2022 | $0.063 | OrdinaryDividend |
Jan 20, 2022 | $0.063 | OrdinaryDividend |
Dec 16, 2021 | $0.105 | OrdinaryDividend |
Nov 18, 2021 | $0.065 | OrdinaryDividend |
Oct 21, 2021 | $0.063 | OrdinaryDividend |
Sep 16, 2021 | $0.064 | OrdinaryDividend |
Aug 19, 2021 | $0.063 | OrdinaryDividend |
Jul 22, 2021 | $0.063 | OrdinaryDividend |
Jun 17, 2021 | $0.063 | OrdinaryDividend |
May 20, 2021 | $0.063 | OrdinaryDividend |
Apr 22, 2021 | $0.063 | OrdinaryDividend |
Mar 18, 2021 | $0.063 | OrdinaryDividend |
Feb 18, 2021 | $0.063 | OrdinaryDividend |
Jan 21, 2021 | $0.063 | OrdinaryDividend |
Dec 17, 2020 | $0.216 | OrdinaryDividend |
Nov 19, 2020 | $0.063 | OrdinaryDividend |
Oct 22, 2020 | $0.063 | OrdinaryDividend |
Sep 17, 2020 | $0.058 | OrdinaryDividend |
Aug 20, 2020 | $0.057 | OrdinaryDividend |
Jul 16, 2020 | $0.058 | OrdinaryDividend |
Jun 18, 2020 | $0.058 | OrdinaryDividend |
May 21, 2020 | $0.058 | OrdinaryDividend |
Apr 16, 2020 | $0.058 | OrdinaryDividend |
Mar 19, 2020 | $0.058 | OrdinaryDividend |
Feb 20, 2020 | $0.058 | OrdinaryDividend |
Jan 16, 2020 | $0.058 | OrdinaryDividend |
Dec 19, 2019 | $0.065 | OrdinaryDividend |
Nov 21, 2019 | $0.058 | OrdinaryDividend |
Oct 17, 2019 | $0.058 | OrdinaryDividend |
Sep 19, 2019 | $0.058 | OrdinaryDividend |
Aug 22, 2019 | $0.059 | OrdinaryDividend |
Jul 18, 2019 | $0.059 | OrdinaryDividend |
Jun 20, 2019 | $0.057 | OrdinaryDividend |
May 16, 2019 | $0.058 | OrdinaryDividend |
Apr 18, 2019 | $0.059 | OrdinaryDividend |
Mar 21, 2019 | $0.058 | OrdinaryDividend |
Feb 21, 2019 | $0.058 | OrdinaryDividend |
Jan 17, 2019 | $0.058 | OrdinaryDividend |
Dec 20, 2018 | $0.159 | OrdinaryDividend |
Nov 15, 2018 | $0.058 | OrdinaryDividend |
Oct 18, 2018 | $0.059 | OrdinaryDividend |
Sep 20, 2018 | $0.059 | OrdinaryDividend |
Aug 16, 2018 | $0.059 | OrdinaryDividend |
Jul 19, 2018 | $0.059 | OrdinaryDividend |
Jun 21, 2018 | $0.058 | OrdinaryDividend |
May 17, 2018 | $0.059 | OrdinaryDividend |
Apr 19, 2018 | $0.059 | OrdinaryDividend |
Mar 22, 2018 | $0.059 | OrdinaryDividend |
Feb 22, 2018 | $0.058 | OrdinaryDividend |
Jan 18, 2018 | $0.059 | OrdinaryDividend |
Dec 21, 2017 | $0.083 | OrdinaryDividend |
Nov 16, 2017 | $0.058 | OrdinaryDividend |
Oct 19, 2017 | $0.059 | OrdinaryDividend |
Sep 21, 2017 | $0.059 | OrdinaryDividend |
Aug 17, 2017 | $0.060 | OrdinaryDividend |
Jul 20, 2017 | $0.059 | OrdinaryDividend |
Jun 22, 2017 | $0.059 | OrdinaryDividend |
May 18, 2017 | $0.060 | OrdinaryDividend |
Apr 20, 2017 | $0.065 | OrdinaryDividend |
Mar 16, 2017 | $0.065 | OrdinaryDividend |
Feb 16, 2017 | $0.064 | OrdinaryDividend |
Jan 19, 2017 | $0.063 | OrdinaryDividend |
Dec 22, 2016 | $0.115 | OrdinaryDividend |
Nov 17, 2016 | $0.063 | OrdinaryDividend |
Oct 20, 2016 | $0.064 | OrdinaryDividend |
Sep 22, 2016 | $0.064 | OrdinaryDividend |
Aug 18, 2016 | $0.063 | OrdinaryDividend |
Jul 21, 2016 | $0.063 | OrdinaryDividend |
Jun 16, 2016 | $0.064 | OrdinaryDividend |
May 19, 2016 | $0.063 | OrdinaryDividend |
Apr 21, 2016 | $0.063 | OrdinaryDividend |
Mar 17, 2016 | $0.063 | OrdinaryDividend |
Feb 18, 2016 | $0.063 | OrdinaryDividend |
Jan 21, 2016 | $0.063 | OrdinaryDividend |
Dec 17, 2015 | $0.233 | OrdinaryDividend |
Nov 19, 2015 | $0.063 | OrdinaryDividend |
Oct 22, 2015 | $0.063 | OrdinaryDividend |
Sep 17, 2015 | $0.064 | OrdinaryDividend |
Aug 20, 2015 | $0.063 | OrdinaryDividend |
Jul 16, 2015 | $0.064 | OrdinaryDividend |
Jun 18, 2015 | $0.064 | OrdinaryDividend |
May 21, 2015 | $0.064 | OrdinaryDividend |
Apr 16, 2015 | $0.064 | OrdinaryDividend |
Mar 19, 2015 | $0.063 | OrdinaryDividend |
Feb 19, 2015 | $0.065 | OrdinaryDividend |
Jan 22, 2015 | $0.063 | OrdinaryDividend |
Dec 18, 2014 | $0.123 | OrdinaryDividend |
Nov 20, 2014 | $0.062 | OrdinaryDividend |
Oct 16, 2014 | $0.063 | OrdinaryDividend |
Sep 18, 2014 | $0.063 | OrdinaryDividend |
Aug 21, 2014 | $0.064 | OrdinaryDividend |
Jul 17, 2014 | $0.065 | OrdinaryDividend |
Jun 19, 2014 | $0.064 | OrdinaryDividend |
May 22, 2014 | $0.064 | OrdinaryDividend |
Apr 17, 2014 | $0.063 | OrdinaryDividend |
Mar 20, 2014 | $0.063 | OrdinaryDividend |
Feb 20, 2014 | $0.064 | OrdinaryDividend |
Jan 16, 2014 | $0.064 | OrdinaryDividend |
Dec 19, 2013 | $0.081 | OrdinaryDividend |
Nov 21, 2013 | $0.079 | OrdinaryDividend |
Oct 17, 2013 | $0.063 | OrdinaryDividend |
Sep 19, 2013 | $0.057 | OrdinaryDividend |
Aug 22, 2013 | $0.073 | OrdinaryDividend |
Jul 18, 2013 | $0.063 | OrdinaryDividend |
Jun 20, 2013 | $0.077 | OrdinaryDividend |
May 16, 2013 | $0.054 | OrdinaryDividend |
Apr 18, 2013 | $0.071 | OrdinaryDividend |
Mar 21, 2013 | $0.053 | OrdinaryDividend |
Feb 21, 2013 | $0.075 | OrdinaryDividend |
Jan 17, 2013 | $0.034 | OrdinaryDividend |
Dec 20, 2012 | $0.105 | OrdinaryDividend |
Nov 15, 2012 | $0.053 | OrdinaryDividend |
Oct 18, 2012 | $0.053 | OrdinaryDividend |
Sep 20, 2012 | $0.054 | OrdinaryDividend |
Aug 16, 2012 | $0.041 | OrdinaryDividend |
Jul 19, 2012 | $0.062 | OrdinaryDividend |
Jun 21, 2012 | $0.085 | OrdinaryDividend |
May 17, 2012 | $0.066 | OrdinaryDividend |
Apr 19, 2012 | $0.065 | OrdinaryDividend |
Mar 22, 2012 | $0.064 | OrdinaryDividend |
Feb 16, 2012 | $0.058 | OrdinaryDividend |
Jan 19, 2012 | $0.028 | OrdinaryDividend |
Dec 22, 2011 | $0.074 | OrdinaryDividend |
Nov 17, 2011 | $0.058 | OrdinaryDividend |
ASHIX - Fund Manager Analysis
Managers
James Dudnick
Start Date
Tenure
Tenure Rank
Apr 01, 2014
8.17
8.2%
James Dudnick, CFA Director, Portfolio Manager Mr. Dudnick is a portfolio manager and a director with Allianz Global Investors, which he joined in 2005. He has portfolio-management and research responsibilities for the AllianzGI Short Duration High Income team. Mr. Dudnick was previously a financial advisor at Merrill Lynch, working with both individual and institutional clients. Before that, he worked at Goldman Sachs as a financial analyst in the investment-management division, where he conducted research and executed trades. Mr. Dudnick has a B.B.A. with high distinction in business administration from the University of Michigan Business School. He is a CFA charterholder.
Steven Gish
Start Date
Tenure
Tenure Rank
Apr 01, 2014
8.17
8.2%
Steven Gish, CFA Director, Portfolio Manager Mr. Gish is a portfolio manager and a director with Allianz Global Investors, which he joined in 2005. He has portfolio-management and research responsibilities on the AllianzGI Short Duration High Income team. Mr. Gish was previously a senior research analyst with Roth Capital Partners; before that, he worked in credit at a division of Deutsche Bank Group. Mr. Gish has a B.A. from the University of New Mexico and a M.B.A. from the University of Colorado. He is a CFA charterholder.
Justin Kass
Start Date
Tenure
Tenure Rank
Mar 01, 2022
0.25
0.3%
Mr. Kass is a portfolio manager, a managing director, CIO and co-head US Income and Growth Strategies with Allianz Global Investors, which he joined in 2000. He has portfolio management, research and trading responsibilities for the Income and Growth Strategies team. In 2003, Mr. Kass was promoted to portfolio management and began handling day-to-day portfolio manager responsibilities for the firm’s US Convertible strategy in 2005. He is also a lead portfolio manager for the firm’s Income & Growth strategy since its inception in 2007. In addition to management responsibility for institutional clients, Mr. Kass is responsible for managing multiple closed-end and open-end mutual funds. Previous to joining the firm, Mr. Kass interned on the Income and Growth Strategies team, adding significant depth to its proprietary Upgrade Alert Model. He has 24 years of investment industry experience. Mr. Kass has a B.S. from the University of California, Davis, and an M.B.A. from the UCLA Anderson School of Management. He is a CFA charterholder.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.13 | 37.79 | 7.21 | 8.17 |