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Name

As of 04/16/2024

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

Highland Fixed Income Fund

HFBAX | Fund

$10.96

$204 M

0.00%

1.07%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$204 M

Holdings in Top 10

18.0%

52 WEEK LOW AND HIGH

$11.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.07%

SALES FEES

Front Load 4.25%

Deferred Load N/A

TRADING FEES

Turnover 75.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/16/2024

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

Highland Fixed Income Fund

HFBAX | Fund

$10.96

$204 M

0.00%

1.07%

HFBAX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.74%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Highland Fixed Income Fund
  • Fund Family Name
    Highland Funds
  • Inception Date
    Feb 22, 1993
  • Shares Outstanding
    6084864
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Hakopian

Fund Description

HFBAX - Performance

Return Ranking - Trailing

Period HFBAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -13.2% 2.8% 8.32%
1 Yr N/A -11.0% 10.6% 16.16%
3 Yr N/A* -11.1% 24.7% 10.75%
5 Yr N/A* -6.8% 190.4% 51.24%
10 Yr N/A* -2.6% 73.3% 17.89%

* Annualized

Return Ranking - Calendar

Period HFBAX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -16.2% 8.1% 47.80%
2022 N/A -34.7% 131.9% 15.00%
2021 N/A -11.6% 4.4% 54.27%
2020 N/A -10.1% 946.1% 84.73%
2019 N/A -1.7% 16.9% 38.84%

Total Return Ranking - Trailing

Period HFBAX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -13.2% 2.8% 8.32%
1 Yr N/A -11.0% 10.6% 15.77%
3 Yr N/A* -11.1% 24.7% 13.93%
5 Yr N/A* -6.8% 190.4% 54.95%
10 Yr N/A* -2.6% 73.3% 40.65%

* Annualized

Total Return Ranking - Calendar

Period HFBAX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -11.3% 11.0% 47.21%
2022 N/A -32.2% 131.9% 15.10%
2021 N/A -9.4% 9.2% 54.27%
2020 N/A -1.9% 1009.0% 85.16%
2019 N/A 1.1% 21668.0% 50.53%

NAV & Total Return History

HFBAX - Holdings

Concentration Analysis

HFBAX Category Low Category High HFBAX % Rank
Net Assets 204 M 2.9 M 314 B 79.78%
Number of Holdings 191 1 17889 86.33%
Net Assets in Top 10 34.6 M -106 M 36.5 B 85.74%
Weighting of Top 10 17.99% 4.4% 134.1% 71.32%

Top 10 Holdings

  1. Qwest Corporation 0% 2.16%
  2. United States Treasury Bonds 2.25% 2.15%
  3. Pacific Gas and Electric Company 2.5% 2.11%
  4. Southwest Airlines Co. 7.38% 1.92%
  5. Marriott International, Inc. 4% 1.74%
  6. United States Treasury Bonds 1.12% 1.74%
  7. JPMorgan Chase & Co Deposit Shs Repr 1/10th Non-Cum Perp Pfd Shs Series -S- 1.69%
  8. Government National Mortgage Association 3.25% 1.61%
  9. Qwest Corporation 0% 1.59%
  10. FRESB MORTGAGE TRUST 3.48% 1.45%

Asset Allocation

Weighting Return Low Return High HFBAX % Rank
Bonds 		90.28% 0.00% 215.98% 72.33%
Preferred Stocks 		10.08% 0.00% 74.68% 0.29%
Stocks 		1.17% 0.00% 99.93% 8.34%
Other 		0.09% -13.23% 50.66% 74.83%
Convertible Bonds 		0.09% 0.00% 7.93% 86.04%
Cash 		-1.70% -54.51% 79.52% 99.12%

Stock Sector Breakdown

Weighting Return Low Return High HFBAX % Rank
Real Estate 		87.31% 0.00% 99.26% 5.29%
Financial Services 		11.68% 0.00% 100.00% 31.76%
Utilities 		0.28% 0.00% 100.00% 28.24%
Industrials 		0.25% 0.00% 48.31% 37.65%
Communication Services 		0.19% 0.00% 100.00% 30.59%
Basic Materials 		0.17% 0.00% 100.00% 24.71%
Energy 		0.09% 0.00% 100.00% 49.41%
Technology 		0.02% 0.00% 43.45% 25.88%
Consumer Cyclical 		0.01% 0.00% 100.00% 37.65%
Healthcare 		0.00% 0.00% 17.70% 57.06%
Consumer Defense 		0.00% 0.00% 99.67% 58.82%

Stock Geographic Breakdown

Weighting Return Low Return High HFBAX % Rank
US 		1.15% 0.00% 99.93% 8.36%
Non US 		0.02% 0.00% 86.52% 1.87%

Bond Sector Breakdown

Weighting Return Low Return High HFBAX % Rank
Corporate 		55.21% 0.00% 100.00% 6.34%
Securitized 		31.24% 0.00% 98.40% 46.44%
Government 		9.14% 0.00% 86.23% 87.52%
Municipal 		3.64% 0.00% 100.00% 10.40%
Cash & Equivalents 		0.55% 0.00% 76.23% 80.73%
Derivative 		0.22% -5.38% 50.66% 34.32%

Bond Geographic Breakdown

Weighting Return Low Return High HFBAX % Rank
US 		88.80% 0.00% 215.98% 68.34%
Non US 		1.48% 0.00% 39.04% 23.21%

HFBAX - Expenses

Operational Fees

HFBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.07% 0.01% 39.10% 23.39%
Management Fee 0.30% 0.00% 1.76% 32.57%
12b-1 Fee 0.25% 0.00% 1.00% 40.37%
Administrative Fee 0.20% 0.01% 0.50% 84.08%

Sales Fees

HFBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.25% 2.00% 5.75% 23.57%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

HFBAX 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.

HFBAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 75.00% 2.00% 493.39% 33.95%

HFBAX - Distributions

Dividend Yield Analysis

HFBAX Category Low Category High HFBAX % Rank
Dividend Yield 0.00% 0.00% 9.95% 4.32%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

HFBAX Category Low Category High HFBAX % Rank
Net Income Ratio 2.74% -1.28% 4.79% 5.89%

Capital Gain Distribution Analysis

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

Distributions History

View More +

HFBAX - Fund Manager Analysis

Managers

John Hakopian

Start Date

Tenure

Tenure Rank

Aug 01, 2014

6.42

6.4%

Mr. Hakopian is Portfolio Manager and President of First Foundation Advisors (“FFA”) and a Director of First Foundation Inc. and First Foundation Bank. Mr. Hakopian oversees the vision, strategy, operations and development of the investment management service for FFA. Having been with FFA since its inception in 1990, Mr. Hakopian has been closely involved in developing and delivering the firm’s investment services. He became President in 2009. Mr. Hakopian earned a Bachelor of Arts degree in economics in three years from the University of California, Irvine and an MBA in Finance from the University of Southern California.

Calvin Jones

Start Date

Tenure

Tenure Rank

Dec 04, 2020

0.07

0.1%

Calvin Jones, CFA, is a portfolio manager of Highland Fixed Income Fund and a Managing Director of Fixed Income at FFA. Mr. Jones is a senior member of the FFA investment management team and is responsible for working closely with FFA’s financial advisors to develop investment strategies utilizing income assets to help clients achieve their financial goals. In his role, Mr. Jones serves on the company’s Investment and Asset Allocation committees and is responsible for leading and overseeing the firm’s fixed income assets. Mr. Jones joined FFA in 2011. His previous experience at ProShare Advisors included trading and analysis in global equity and derivatives markets for the world’s largest manager of leveraged and inverse funds. Mr. Jones earned a Bachelor of Engineering degree from the University of Pittsburgh and a Master of Science in Mathematical Finance degree from the University of North Carolina at Charlotte. He is a member of the CFA Institute and the CFA Society of Los Angeles.

Tenure Analysis

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

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