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Trending ETFs

Name

As of 12/20/2024

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

$19.23

$314 M

14.35%

$2.76

7.62%

Vitals

YTD Return

15.5%

1 yr return

16.7%

3 Yr Avg Return

9.4%

5 Yr Avg Return

13.8%

Net Assets

$314 M

Holdings in Top 10

49.7%

52 WEEK LOW AND HIGH

$19.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 7.62%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 99.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$20,000

IRA

N/A


Fund Classification

Fund Type

Closed-end mutual fund


Name

As of 12/20/2024

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

$19.23

$314 M

14.35%

$2.76

7.62%

FROPX - Profile

Distributions

  • YTD Total Return 15.5%
  • 3 Yr Annualized Total Return 9.4%
  • 5 Yr Annualized Total Return 13.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 13.92%
DIVIDENDS
  • Dividend Yield 14.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Flat Rock Opportunity Fund
  • Fund Family Name
    Flat Rock Global LLC
  • Inception Date
    Jul 02, 2018
  • Shares Outstanding
    9025526
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Shiloh Bates

Fund Description


FROPX - Performance

Return Ranking - Trailing

Period FROPX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.5% -2.2% 74.1% 9.54%
1 Yr 16.7% -1.8% 70.3% 5.43%
3 Yr 9.4%* -4.7% 21.9% 0.75%
5 Yr 13.8%* -3.9% 21.6% 0.65%
10 Yr N/A* 0.8% 13.8% N/A

* Annualized

Return Ranking - Calendar

Period FROPX Return Category Return Low Category Return High Rank in Category (%)
2023 2.5% -12.2% 23.9% 94.69%
2022 -17.6% -34.7% 2.8% 40.48%
2021 15.5% -11.9% 18.1% 1.24%
2020 1.1% -20.9% 39.7% 87.86%
2019 2.2% 0.8% 25.7% 99.67%

Total Return Ranking - Trailing

Period FROPX Return Category Return Low Category Return High Rank in Category (%)
YTD 15.5% -2.2% 74.1% 9.54%
1 Yr 16.7% -1.8% 70.3% 5.43%
3 Yr 9.4%* -4.7% 21.9% 0.75%
5 Yr 13.8%* -3.9% 21.6% 0.65%
10 Yr N/A* 0.8% 13.8% N/A

* Annualized

Total Return Ranking - Calendar

Period FROPX Return Category Return Low Category Return High Rank in Category (%)
2023 18.7% -12.2% 26.8% 7.52%
2022 -4.7% -29.0% 10.9% 3.15%
2021 27.3% -3.0% 27.3% 0.15%
2020 14.5% -19.5% 40.6% 33.82%
2019 2.2% 2.2% 32.7% 100.00%

NAV & Total Return History


FROPX - Holdings

Concentration Analysis

FROPX Category Low Category High FROPX % Rank
Net Assets 314 M 861 K 235 B 72.47%
Number of Holdings 58 2 16143 49.12%
Net Assets in Top 10 156 M 859 K 66.9 B 69.47%
Weighting of Top 10 49.73% 10.8% 122.7% 51.62%

Top 10 Holdings

  1. Guggenheim MM CLO 2023-6 LLC 5.86%
  2. Audax Senior Debt CLO 9 LLC 5.44%
  3. Woodmont 2022-9 Trust 5.25%
  4. Barings Middle Market CLO 2023-I, Ltd. 5.25%
  5. Ivy Hill Middle Market Credit Fund XX, Ltd. 5.24%
  6. Churchill Middle Market CLO III, Ltd. 5.00%
  7. Lake Shore MM CLO V LLC 4.81%
  8. Great Lakes CLO 2014-1, Ltd. 4.61%
  9. AUDAX 2023-8A Interests 4.30%
  10. New Mountain CLO 4, Ltd. 3.96%

Asset Allocation

Weighting Return Low Return High FROPX % Rank
Other
113.97% -42.55% 113.97% 0.15%
Bonds
12.16% 0.00% 77.71% 47.64%
Cash
1.59% -7.92% 100.00% 47.20%
Stocks
0.00% 0.00% 100.10% 94.69%
Preferred Stocks
0.00% 0.00% 24.59% 32.30%
Convertible Bonds
0.00% 0.00% 23.84% 89.15%

Bond Sector Breakdown

Weighting Return Low Return High FROPX % Rank
Securitized
92.13% 0.00% 92.13% 0.15%
Corporate
6.44% 0.00% 98.21% 94.65%
Cash & Equivalents
1.59% 0.00% 99.92% 43.95%
Derivative
0.00% -4.58% 41.29% 32.60%
Municipal
0.00% 0.00% 24.80% 69.09%
Government
0.00% 0.00% 97.26% 94.50%

Bond Geographic Breakdown

Weighting Return Low Return High FROPX % Rank
US
12.16% 0.00% 77.71% 47.49%
Non US
0.00% 0.00% 15.37% 24.48%

FROPX - Expenses

Operational Fees

FROPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 7.62% 0.03% 27.98% 0.88%
Management Fee 1.83% 0.00% 1.83% 100.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.83% N/A

Sales Fees

FROPX 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

FROPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

FROPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 99.00% 0.83% 343.00% 84.23%

FROPX - Distributions

Dividend Yield Analysis

FROPX Category Low Category High FROPX % Rank
Dividend Yield 14.35% 0.00% 17.90% 0.44%

Dividend Distribution Analysis

FROPX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

FROPX Category Low Category High FROPX % Rank
Net Income Ratio 13.92% -2.34% 13.92% 0.15%

Capital Gain Distribution Analysis

FROPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

View More +

FROPX - Fund Manager Analysis

Managers

Shiloh Bates


Start Date

Tenure

Tenure Rank

Jul 02, 2018

3.92

3.9%

Mr. Shiloh Bates is a Managing Director of Flat Rock Global, LLC since 2018 and is also a Managing Director of Benefit Street Partners since 2016. Mr. Bates previously served as Managing Director for BDCA Adviser from 2012 to 2016. Prior to joining BDCA Adviser, Mr. Bates was a Senior Credit Analyst at Canaras Capital Management for two years. Prior to Canaras, Mr. Bates was a Senior Credit Analyst at Four Corners Capital Management for five years. Before Four Corners, Mr. Bates was employed by ING Capital Advisors for 2 years, performing in-depth financial analysis for distressed investments in telecommunication and technology companies. Mr. Bates holds a BS in Political Science from Virginia Tech, an MA of Public Policy from Harvard University, John F. Kennedy School of Government, an MA of Financial Mathematics from the University of Chicago and a MA of Statistics from Columbia University. Mr. Bates also served in the U.S. Army Reserves Special Operations Command as a Specialist for six years.

Robert Grunewald


Start Date

Tenure

Tenure Rank

Jul 02, 2018

3.92

3.9%

Mr. Robert K. Grunewald is CEO and Founder of Flat Rock Global, LLC since 2016. Mr. Grunewald previously served as the President and Chief Investment Officer of Business Development Corp. of America (“BDCA”) from 2011 to 2015. Mr. Grunewald has over 25 years of experience in BDCs, middle market finance, private equity and investment banking. Mr. Grunewald holds a Bachelor of Business Administration from University of Notre Dame in 1984 and a Master of Business Administration from Georgia State University in 1994.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 34.51 6.39 2.41