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Name

As of 04/23/2024

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

BARROW HANLEY TOTAL RETURN BOND FUND

BTRIX | Fund

$9.11

$162 M

4.56%

$0.41

0.90%

Vitals

YTD Return

-2.3%

1 yr return

-1.1%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$162 M

Holdings in Top 10

25.2%

52 WEEK LOW AND HIGH

$9.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.90%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee 1.00%

Min Investment

Standard (Taxable)

$100,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/23/2024

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

BARROW HANLEY TOTAL RETURN BOND FUND

BTRIX | Fund

$9.11

$162 M

4.56%

$0.41

0.90%

BTRIX - Profile

Distributions

  • YTD Total Return -2.3%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 4.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    BARROW HANLEY TOTAL RETURN BOND FUND
  • Fund Family Name
    Perpetual Funds
  • Inception Date
    Apr 18, 2022
  • Shares Outstanding
    4276844
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mark Luchsinger

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities and other debt instruments. This investment policy may be changed by the Fund upon 60 days’ prior written notice to shareholders. Fixed income securities and other debt instruments include corporate bonds, including high yield

bonds, commercial paper, debt securities issued or guaranteed by the U.S. government and its agencies and instrumentalities, Treasury Inflation-Protected Securities (“TIPS”), municipal bonds, bank loans, mortgage- and asset-backed securities and convertible securities.

Barrow, Hanley, Mewhinney & Strauss, LLC (the “Sub-Adviser” or “Barrow Hanley”), the Fund’s sub-adviser, believes investing in undervalued securities with above-average yield to maturity and capital appreciation potential has the potential to generate above-average returns over the long term while minimizing volatility and, therefore, downside risk. Using this approach, Barrow Hanley seeks to construct a portfolio of U.S. investment grade fixed income securities with diversified maturities.

Barrow Hanley’s analysis of the credit quality of fixed income securities and other debt instruments looks at cash flow, earnings, and balance sheet fundamentals, as well as any supply/demand factors that Barrow Hanley believes will impact the future credit rating of the issuer and the yield premium. A significant focus in Barrow Hanley’s credit research is identifying the credits that have a greater probability of ratings upgrades while avoiding downgrades. Barrow Hanley reviews the financial statements and Securities and Exchange Commission filings of companies, analyzing, among other factors, the following fundamental factors in the selection process:

●

Management’s stated business goals are reviewed for reasonableness and consistency.

●

The ability to pay down debt with free cash flow.

●

Profitability measures compared to similarly rated companies for return on equity, return on capital, and return on investment.

●

Revenue and earnings growth, including margin trends in operating earnings.

●

Various credit measures, including EBITDA, selling, general and administrative (SG&A) expenses, leverage, and interest coverage ratios, both absolute and trends.

●

Disclosures of any off-balance-sheet items, in order to adjust the financial calculations listed above accordingly.

Read More

BTRIX - Performance

Return Ranking - Trailing

Period BTRIX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.3% -12.1% 2.8% 45.27%
1 Yr -1.1% -10.5% 10.4% 66.37%
3 Yr N/A* -11.0% 24.7% 66.22%
5 Yr N/A* -7.0% 190.5% 71.44%
10 Yr N/A* -2.6% 73.3% 80.80%

* Annualized

Return Ranking - Calendar

Period BTRIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.9% -16.2% 8.1% 58.44%
2022 N/A -34.7% 131.9% N/A
2021 N/A -11.6% 4.4% N/A
2020 N/A -10.1% 946.1% N/A
2019 N/A -1.7% 16.9% N/A

Total Return Ranking - Trailing

Period BTRIX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.3% -12.1% 2.8% 45.27%
1 Yr -1.1% -10.5% 10.4% 66.37%
3 Yr N/A* -11.0% 24.7% 58.89%
5 Yr N/A* -7.0% 190.5% 63.93%
10 Yr N/A* -2.6% 73.3% 77.19%

* Annualized

Total Return Ranking - Calendar

Period BTRIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.5% -11.3% 11.0% 69.13%
2022 N/A -32.2% 131.9% N/A
2021 N/A -9.4% 9.2% N/A
2020 N/A -1.9% 1009.0% N/A
2019 N/A 1.1% 21668.0% N/A

NAV & Total Return History

BTRIX - Holdings

Concentration Analysis

BTRIX Category Low Category High BTRIX % Rank
Net Assets 162 M 2.9 M 314 B 83.66%
Number of Holdings 256 1 17889 81.46%
Net Assets in Top 10 41.3 M -106 M 36.5 B 82.15%
Weighting of Top 10 25.22% 4.4% 134.1% 46.23%

Top 10 Holdings

  1. US TREASURY N/B 1.500000% 02/15/2030 4.62%
  2. US TREASURY N/B 3.500000% 02/15/2033 4.23%
  3. US TREASURY N/B 3.875000% 02/15/2043 3.10%
  4. US TREASURY N/B 1.125000% 02/28/2025 2.72%
  5. FANNIE MAE POOL FN FS3392 2.12%
  6. FREDDIE MAC POOL FR SD8267 1.94%
  7. FANNIE MAE POOL FN FM8787 1.69%
  8. GINNIE MAE II POOL G2 MA9017 1.67%
  9. GINNIE MAE II POOL G2 MA8800 1.57%
  10. FANNIE MAE POOL FN FS3071 1.56%

Asset Allocation

Weighting Return Low Return High BTRIX % Rank
Bonds 		98.96% 0.00% 215.98% 25.10%
Convertible Bonds 		2.47% 0.00% 7.93% 16.78%
Cash 		1.04% -54.51% 79.52% 78.60%
Stocks 		0.00% 0.00% 99.93% 97.05%
Preferred Stocks 		0.00% 0.00% 74.68% 96.84%
Other 		0.00% -13.23% 50.66% 91.81%

Bond Sector Breakdown

Weighting Return Low Return High BTRIX % Rank
Securitized 		40.37% 0.00% 98.40% 21.55%
Corporate 		39.27% 0.00% 100.00% 22.94%
Government 		19.42% 0.00% 86.23% 62.36%
Cash & Equivalents 		0.86% 0.00% 76.23% 74.56%
Derivative 		0.00% -3.37% 50.66% 80.57%
Municipal 		0.00% 0.00% 100.00% 99.21%

Bond Geographic Breakdown

Weighting Return Low Return High BTRIX % Rank
US 		98.96% 0.00% 215.98% 22.78%
Non US 		0.00% 0.00% 39.04% 97.63%

BTRIX - Expenses

Operational Fees

BTRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.90% 0.01% 39.10% 33.10%
Management Fee 0.35% 0.00% 1.76% 49.40%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

BTRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BTRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 94.74%

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.

BTRIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 493.39% N/A

BTRIX - Distributions

Dividend Yield Analysis

BTRIX Category Low Category High BTRIX % Rank
Dividend Yield 4.56% 0.00% 10.22% 42.52%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

BTRIX Category Low Category High BTRIX % Rank
Net Income Ratio N/A -1.28% 4.79% N/A

Capital Gain Distribution Analysis

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

Distributions History

View More +

BTRIX - Fund Manager Analysis

Managers

Mark Luchsinger

Start Date

Tenure

Tenure Rank

Apr 12, 2022

0.13

0.1%

Mr. Luchsinger joined Barrow Hanley in 1997. He was appointed Co-Head of Fixed Income, along with Scott McDonald, in 2017. Mr. Luchsinger serves as a portfolio manager, specializing in investment grade and high yield corporate bond strategies and is the lead portfolio manager for our Core and Core Plus strategies. He is a member of the CFA Institute and the CFA Society of Dallas-Fort Worth. During his 39-year investment career, Mr. Luchsinger has served as Chief Investment Officer for Great American Reserve Insurance Company. He began his career as a credit analyst at Scor Reinsurance Company. In addition, Mr. Luchsinger spent 10 years in fixed income sales at First Boston Corporation. He earned a BBA from Bowling Green State University.

Justin Martin

Start Date

Tenure

Tenure Rank

Apr 12, 2022

0.13

0.1%

Mr. Martin joined Barrow Hanley in 2004 and has served as a credit analyst in fixed income since 2009. Prior to his work as a credit analyst, Mr. Martin’s work at the firm included market and index research and portfolio analysis. Mr. Martin earned a BBA in Finance from Southern Methodist University. He is a CFA charterholder.

Deborah Petruzzelli

Start Date

Tenure

Tenure Rank

Apr 12, 2022

0.13

0.1%

Ms. Petruzzelli joined BHMS in 2003. She serves as our structured securities portfolio manager for mortgage-backed, asset-backed, and commercial mortgage-backed securities. She is also an analyst for structured securities. During her 34-year investment career, Ms. Petruzzelli has served as managing director/senior portfolio manager for Victory Capital Management, Inc., where she was responsible for the management of ABS, CMBS, and whole-loan sectors for all client portfolios. She also had an active role in that firm’s development of a core plus strategy, leveraging the firm’s convertible equity management strengths. Prior to joining Victory, Ms. Petruzzelli worked for McDonald & Company Securities, Inc., as senior vice president for ABS syndication and traded ABS, CMO, and MBS. She earned a BSBA in Business Administration from Bowling Green State University.

Scott McDonald

Start Date

Tenure

Tenure Rank

Apr 12, 2022

0.13

0.1%

Mr. McDonald joined Barrow Hanley in 1995. He was appointed Co-Head of Fixed Income, along with Mark Luchsinger, in 2017. Mr. McDonald also serves as the lead portfolio manager for our Long Duration strategies, specializing in corporate and government bonds. He is a member of the CFA Institute and the CFA Society of Dallas-Fort Worth. During his 31-year investment career, Mr. McDonald previously served as senior vice president and portfolio manager at Life Partners Group, Inc. Prior to that, he was a credit supervisor and lending officer for Chase Bank of Texas. Mr. McDonald received an MBA from the University of Texas and a BBA from Southern Methodist University.

Matthew Routh

Start Date

Tenure

Tenure Rank

Apr 12, 2022

0.13

0.1%

Mr. Routh joined BHMS in 2013. He is an analyst in credit research, focusing on investment grade credits in the non-corporate sector, including sovereigns, foreign agencies, and taxable municipals, such as Build America bonds. His responsibilities also include quantitative portfolio analysis using the BHMS relative return model, portfolio analytics, and risk management systems. Mr. Routh began his investment career in 2008 at Callan Associates, where he worked in fixed income research. He is a member of the CFA Institute. Mr. Routh earned a BA in Economics from the University of Texas and an MA in Economics from the University of California, Santa Barbara.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.81 1.16

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