Hotchkis & Wiley High Yield I
- HWHIX
- Price as of: Mar 05, 2021
-
$11.40
N/A N/A
- Primary Theme
- High Yield Bond
- Fund Company
- Hotchkis & Wiley
- Share Class
HWHIX - Snapshot
Vitals
- YTD Return 1.0%
- 3 Yr Annualized Return 3.8%
- 5 Yr Annualized Return 7.6%
- Net Assets $1.26 B
- Holdings in Top 10 14.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING RELATED FEES
- Expense Ratio 0.75%
SALES FEES
- Front Load N/A
- Deferred Load N/A
BROKERAGE FEES
- Turnover 67.00%
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) $250,000
- IRA N/A
Fund Classification
-
Primary Theme
High Yield Bond
- Fund Type Open End Mutual Fund
- Investment Style High Yield Bond
HWHIX - Profile
Distributions
- YTD Total Return 1.0%
- 3 Yr Annualized Total Return 3.8%
- 5 Yr Annualized Total Return 7.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 5.85%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameHotchkis & Wiley High Yield Fund
-
Fund Family NameHotchkis & Wiley
-
Inception DateMar 31, 2009
-
Shares Outstanding76819309
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerRaymond Kennedy
HWHIX - Performance
Return Ranking - Trailing
Period | HWHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.0% | -4.7% | 8.3% | 15.92% |
1 Yr | 8.1% | -39.8% | 18.8% | 43.37% |
3 Yr | 3.8%* | -16.0% | 10.2% | 90.56% |
5 Yr | 7.6%* | -7.4% | 13.8% | 48.86% |
10 Yr | 5.6%* | 1.2% | 9.2% | 42.35% |
* Annualized
Return Ranking - Calendar
Period | HWHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2020 | -2.1% | -46.8% | 399.1% | 80.79% |
2019 | 3.3% | -10.3% | 226.1% | 93.93% |
2018 | -8.9% | -18.4% | -0.2% | 74.50% |
2017 | 2.0% | -9.5% | 18.8% | 24.25% |
2016 | 8.7% | -9.1% | 28.6% | 22.18% |
Total Return Ranking - Trailing
Period | HWHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.0% | -4.7% | 8.3% | 15.92% |
1 Yr | 8.1% | -39.8% | 18.5% | 35.87% |
3 Yr | 3.8%* | -16.0% | 10.2% | 83.07% |
5 Yr | 7.6%* | -7.4% | 13.8% | 43.23% |
10 Yr | 5.6%* | 1.2% | 9.2% | 39.76% |
* Annualized
Total Return Ranking - Calendar
Period | HWHIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2020 | -2.1% | -46.8% | 399.1% | 80.79% |
2019 | 3.3% | -8.1% | 23.9% | 94.51% |
2018 | -8.9% | -18.4% | 1.3% | 80.00% |
2017 | 2.0% | -8.5% | 18.8% | 42.31% |
2016 | 8.7% | -9.1% | 39.0% | 38.28% |
NAV & Total Return History
HWHIX - Holdings
Concentration Analysis
HWHIX | Category Low | Category High | HWHIX % Rank | |
---|---|---|---|---|
Net Assets | 1.26 B | 3.63 M | 28.6 B | 29.44% |
Number of Holdings | 200 | 3 | 2297 | 76.38% |
Net Assets in Top 10 | 174 M | -564 M | 3.47 B | 29.42% |
Weighting of Top 10 | 14.03% | 3.2% | 100.0% | 36.61% |
Top 10 Holdings
- Horsehead Equity 2.86%
- iShares Broad USD High Yield Corp Bd ETF 2.44%
- CCO Holdings, LLC/ CCO Holdings Capital Corp. 5.38% 1.78%
- General Electric Company 3.55% 1.64%
- Ra Parent Inc. - Restricted Eq 1.14%
- Ra Parent Inc. - Restricted Eq 1.14%
- Ra Parent Inc. - Restricted Eq 1.14%
- Ra Parent Inc. - Restricted Eq 1.14%
- Ra Parent Inc. - Restricted Eq 1.14%
- Ra Parent Inc. - Restricted Eq 1.14%
Asset Allocation
Weighting | Return Low | Return High | HWHIX % Rank | |
---|---|---|---|---|
Bonds | 89.38% | 6.16% | 146.57% | 80.03% |
Stocks | 3.57% | -8.82% | 43.20% | 6.88% |
Convertible Bonds | 2.62% | 0.00% | 18.78% | 37.79% |
Other | 2.21% | -50.78% | 33.59% | 5.13% |
Cash | 1.17% | -40.59% | 75.30% | 78.14% |
Preferred Stocks | 1.04% | 0.00% | 11.16% | 15.65% |
Stock Sector Breakdown
Weighting | Return Low | Return High | HWHIX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 99.28% | 87.46% |
Technology | 0.00% | 0.00% | 99.99% | 85.75% |
Real Estate | 0.00% | 0.00% | 100.00% | 87.75% |
Industrials | 0.00% | 0.00% | 100.00% | 88.60% |
Healthcare | 0.00% | 0.00% | 100.00% | 86.61% |
Financial Services | 0.00% | 0.00% | 100.00% | 86.32% |
Energy | 0.00% | 0.00% | 100.00% | 92.02% |
Communication Services | 0.00% | 0.00% | 100.00% | 90.60% |
Consumer Defense | 0.00% | 0.00% | 100.00% | 82.91% |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | 4.56% |
Basic Materials | 0.00% | 0.00% | 100.00% | 2.28% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | HWHIX % Rank | |
---|---|---|---|---|
US | 3.56% | -8.82% | 37.04% | 6.88% |
Non US | 0.01% | 0.00% | 15.55% | 28.61% |
Bond Sector Breakdown
Weighting | Return Low | Return High | HWHIX % Rank | |
---|---|---|---|---|
Corporate | 97.63% | 0.00% | 100.00% | 24.46% |
Cash & Equivalents | 1.25% | 0.00% | 92.44% | 79.05% |
Securitized | 1.12% | 0.00% | 92.43% | 18.51% |
Derivative | 0.00% | 0.00% | 41.53% | 76.08% |
Municipal | 0.00% | 0.00% | 13.37% | 68.78% |
Government | 0.00% | 0.00% | 71.97% | 80.54% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | HWHIX % Rank | |
---|---|---|---|---|
US | 75.99% | 0.18% | 122.57% | 71.66% |
Non US | 13.39% | -25.95% | 97.40% | 44.67% |
HWHIX - Expenses
Operational Fees
HWHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.75% | 0.03% | 20.43% | 73.42% |
Management Fee | 0.55% | 0.00% | 1.84% | 49.80% |
12b-1 Fee | N/A | 0.00% | 1.00% | 14.64% |
Administrative Fee | N/A | 0.00% | 0.50% | 90.36% |
Sales Fees
HWHIX 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
HWHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 34.62% |
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.
HWHIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 67.00% | 0.00% | 349.00% | 55.10% |
HWHIX - Distributions
Dividend Yield Analysis
HWHIX | Category Low | Category High | HWHIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 3.74% | 67.52% |
Dividend Distribution Analysis
HWHIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
HWHIX | Category Low | Category High | HWHIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 5.85% | -2.17% | 10.93% | 14.54% |
Capital Gain Distribution Analysis
HWHIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
HWHIX - Fund Manager Analysis
Managers
Raymond Kennedy
Start Date
Tenure
Tenure Rank
Mar 31, 2009
11.92
11.9%
In his role as portfolio manager, Mr. Kennedy plays an integral part in the investment research review and decision-making process as well as coordinates the day-to-day management of all High Yield bond portfolios. Prior to joining the firm, Mr. Kennedy was a Managing Director, portfolio manager and senior member of PIMCO's investment strategy group. At PIMCO, he headed the global high yield business along with managing and overseeing High Yield funds, bank loan trading and collateralized debt obligations. Mr. Kennedy was formerly associated with the Prudential Insurance Company of America as a private placement asset manager where he was responsible for investing and managing a portfolio of investment grade and high yield privately placed fixed income securities. Prior to that, he was a consultant for Andersen Consulting (now Accenture) in Los Angeles and London. Mr. Kennedy, a CFA charterholder, was nominated for Morningstar’s 2010 Fixed Income Manager of the Year. He received his BS from Stanford University and MBA from the Anderson School of Management at the University of California, Los Angeles.
Mark Hudoff
Start Date
Tenure
Tenure Rank
Jul 28, 2009
11.6
11.6%
Mark Hudoff is Portfolio Manager of Hotchkins and Wiley (since 2009).Prior to joining the firm, Mr. Hudoff was an Executive Vice President, portfolio manager and Head of Global High Yield investments at PIMCO. He started at PIMCO as a credit analyst for the high yield team and moved to Europe in 2000 to build and manage their European credit business, including the management of PIMCO's European High Yield strategies. Upon returning to the U.S. in 2004, Mr. Hudoff founded and developed PIMCO's Global High Yield practice, while also managing U.S. High Yield portfolios. Mr. Hudoff was formerly associated with BCA where he worked as a fixed income strategist. Mr. Hudoff was nominated for Morningstar’s 2010 Fixed Income Manager of the Year. He received his BS in Economics from Arizona State University and MBA in Finance from the University of Chicago Graduate School of Business.
Patrick Meegan
Start Date
Tenure
Tenure Rank
Aug 29, 2012
8.51
8.5%
Mr. Meegan joined HWCM's predecessor in 1998 as an equity analyst and became portfolio manager in 2001. Mr. Meegan began his career at H&W as an investment analyst and became portfolio manager in 2001. Prior to joining the firm, Mr. Meegan was an audit manager at Arthur Andersen and specialized in financial statement audits and advising clients on SEC reporting issues. Mr. Meegan, a Certified Public Accountant (inactive), received his BA in Business Administration with honors from California State University, Fullerton and his MBA with honors from the Anderson School of Management at the University of California, Los Angeles.
Richard Mak
Start Date
Tenure
Tenure Rank
Jan 01, 2014
7.16
7.2%
In his role as portfolio manager, Mr. Mak plays an integral role in the investment research review and decision making process and coordinates the day-to-day management of all High Yield bond portfolios. Prior to joining the firm, Mr. Mak worked at PIMCO in multiple roles ranging from credit analyst to high yield portfolio manager, primarily focused on internal high yield funds. Prior to his position at PIMCO, Mr. Mak was an equity analyst at Epoch Partners covering telecom equipment and related technology issuers. Mr. Mak, a CFA charterholder, received his BA in Business Economics with a minor in Accounting from University of California, Los Angeles, and MBA with emphasis in Finance and Strategy from the Anderson School of Management at the University of California, Los Angeles.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.01 | 36.54 | 6.67 | 1.67 |