FWSHX: First Western Short Duration High Yield Credit Fund - MutualFunds.com

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First Western Shrt Dur Hi Yld Crdt Instl

FWSHX - Snapshot

Vitals

  • YTD Return -1.2%
  • 3 Yr Annualized Return 3.2%
  • 5 Yr Annualized Return 4.8%
  • Net Assets $42.7 M
  • Holdings in Top 10 16.3%

52 WEEK LOW AND HIGH

$9.84
$8.19
$10.03

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.29%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 113.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $100,000
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style High Yield Bond

Compare FWSHX to Popular High Yield Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$5.91

0.00%

$27.58 B

4.80%

$0.28

-0.84%

0.23%

$7.65

0.00%

$25.49 B

5.30%

$0.41

-1.54%

0.60%

$85.92

-0.19%

$23.82 B

4.90%

$4.22

-2.15%

0.49%

$5.43

0.00%

$20.11 B

5.82%

$0.32

-2.69%

0.79%

$9.92

+0.10%

$16.76 B

5.73%

$0.57

-1.59%

0.72%

FWSHX - Profile

Distributions

  • YTD Total Return -1.2%
  • 3 Yr Annualized Total Return 3.2%
  • 5 Yr Annualized Total Return 4.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 5.38%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Western Short Duration High Yield Credit Fund
  • Fund Family Name
    First Western Capital Mgt
  • Inception Date
    Oct 01, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Barry Julien

Fund Description

Under normal circumstances, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in a diversified portfolio of non-investment grade debt securities (commonly known as "junk bonds") and floating rate senior secured loans issued by U.S. and foreign corporations, partnerships, and other business entities ("High Yield Securities"). It seeks to maintain an average duration of 3.5 years or less and there is no maximum duration on individual securities held by the fund.


FWSHX - Performance

Return Ranking - Trailing

Period FWSHX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -50.1% 385.8% 38.55%
1 Yr 2.4% -54.3% 9.9% 37.12%
3 Yr 3.2%* -21.8% 8.3% 43.77%
5 Yr 4.8%* -0.9% 9.0% 57.96%
10 Yr N/A* 0.7% 9.2% N/A

* Annualized

Return Ranking - Calendar

Period FWSHX Return Category Return Low Category Return High Rank in Category (%)
2019 4.3% -10.3% 226.1% 87.32%
2018 -6.2% -18.4% -0.2% 15.68%
2017 0.6% -9.5% 18.8% 69.83%
2016 5.0% -9.1% 28.6% 87.19%
2015 N/A -34.3% 3.5% N/A

Total Return Ranking - Trailing

Period FWSHX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -50.1% 385.8% 38.55%
1 Yr 2.4% -54.3% 9.9% 29.86%
3 Yr 3.2%* -21.8% 8.3% 38.12%
5 Yr 4.8%* -1.1% 9.0% 49.92%
10 Yr N/A* 0.7% 9.2% N/A

* Annualized

Total Return Ranking - Calendar

Period FWSHX Return Category Return Low Category Return High Rank in Category (%)
2019 5.1% -8.1% 23.9% 79.97%
2018 -1.2% -18.4% 1.3% 4.87%
2017 6.8% -8.5% 18.8% 9.33%
2016 11.5% -9.1% 39.0% 17.97%
2015 N/A -32.4% 3.5% N/A

NAV & Total Return History


FWSHX - Holdings

Concentration Analysis

FWSHX Category Low Category High FWSHX % Rank
Net Assets 42.7 M 3.33 M 27.6 B 89.90%
Number of Holdings 84 1 2239 93.22%
Net Assets in Top 10 7.06 M -492 M 2.87 B 87.38%
Weighting of Top 10 16.27% 3.4% 100.0% 31.17%

Top 10 Holdings

  1. Invesco Shrt-Trm Inv Treasury Instl 3.07%
  2. Drivetime Automotive Croup Inc. 8% 1.55%
  3. American Airlines, Inc. 4.38% 1.55%
  4. Rackspace Hosting, Inc. 8.62% 1.54%
  5. Carvana Co 8.88% 1.51%
  6. Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation 6.38% 1.50%
  7. Enterprise Development Authority 12% 1.49%
  8. UBER TECHNOLOGIES INC 7.5% 1.47%
  9. Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-I 1.47%
  10. Cincinnati Bell, Inc. 8% 1.46%

Asset Allocation

Weighting Return Low Return High FWSHX % Rank
Bonds
94.61% 0.00% 141.18% 48.98%
Cash
4.26% -48.94% 100.00% 31.21%
Convertible Bonds
1.13% 0.00% 19.96% 35.96%
Stocks
0.00% -28.46% 28.23% 86.43%
Preferred Stocks
0.00% 0.00% 7.97% 76.66%
Other
0.00% -2.78% 58.14% 71.64%

Bond Sector Breakdown

Weighting Return Low Return High FWSHX % Rank
Corporate
89.06% 0.00% 100.00% 81.66%
Securitized
6.67% 0.00% 95.38% 5.71%
Cash & Equivalents
4.26% 0.00% 100.00% 34.78%
Derivative
0.00% 0.00% 51.02% 65.49%
Municipal
0.00% 0.00% 16.25% 60.73%
Government
0.00% 0.00% 74.11% 74.05%

Bond Geographic Breakdown

Weighting Return Low Return High FWSHX % Rank
US
83.96% 0.00% 127.79% 26.73%
Non US
10.65% -27.40% 96.73% 72.46%

FWSHX - Expenses

Operational Fees

FWSHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.29% 0.04% 20.17% 34.17%
Management Fee 0.75% 0.00% 1.84% 89.09%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

FWSHX 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% 5.50% N/A

Trading Fees

FWSHX 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.

FWSHX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 113.00% 1.00% 349.00% 92.42%

FWSHX - Distributions

Dividend Yield Analysis

FWSHX Category Low Category High FWSHX % Rank
Dividend Yield 0.00% 0.00% 6.34% 62.03%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

FWSHX Category Low Category High FWSHX % Rank
Net Income Ratio 5.38% -0.81% 10.03% 37.71%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

FWSHX - Fund Manager Analysis

Managers

Barry Julien


Start Date

Tenure

Tenure Rank

Oct 01, 2015

5.09

5.1%

Barry P. Julien, CFA®, President/Chief Investment Officer – Fixed Income – Mr. Julien is President and Chief Investment Officer of First Western Capital Management Company and lead portfolio manager on First Western Capital Management Company's investment grade strategies. Prior to joining First Western Capital Management Company, Mr. Julien was President and Chief Investment Officer at McKee Investment Management, and subsequently a Principal at Stonebridge Capital Management where he managed the company’s fixed income portfolio. With many years of experience, Mr. Julien leads the Investment Grade Fixed Income team and works with institutional and high net worth clients to determine appropriate investment objectives and risk tolerance. Mr. Julien graduated cum laude from the University of California at San Diego with a BA in Economics and he earned his MBA from the Haas School of Business at the University of California at Berkeley where he was awarded the Sutro Fellowship in Finance. He is a CFA charterholder and a member of CFA® Society of Los Angeles.

Ashish Shah


Start Date

Tenure

Tenure Rank

Oct 01, 2015

5.09

5.1%

Ashish Shah, Portfolio Manager – Mr. Shah is the lead portfolio manager for First Western Capital Management Company’s high yield strategies and co-manages the firms short duration investment grade products. Previously, Mr. Shah was a Research and Strategic Planning Consultant at Sun Microsystems and a Product Manager for Escalate, an enterprise software company. Prior to his operational roles, he was an Equity Research Associate at JP Morgan Chase. He earned a dual B.A. in Economics and Environmental Science from the University of California, Berkeley and a M.B.A. from the Marshall School of Business at the University of Southern California where he was a recipient of the Guildford C. Babcock Endowed Scholarship.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 36.21 6.49 1.34