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Name

As of 12/06/2023

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

Virtus Seix Tax-Exempt Bond Fund

HXBIX | Fund

$10.24

$65.8 M

2.97%

$0.30

0.77%

Vitals

YTD Return

3.6%

1 yr return

2.9%

3 Yr Avg Return

-1.0%

5 Yr Avg Return

1.3%

Net Assets

$65.8 M

Holdings in Top 10

31.8%

52 WEEK LOW AND HIGH

$10.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.77%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/06/2023

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

Virtus Seix Tax-Exempt Bond Fund

HXBIX | Fund

$10.24

$65.8 M

2.97%

$0.30

0.77%

HXBIX - Profile

Distributions

  • YTD Total Return 3.6%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.30%
DIVIDENDS
  • Dividend Yield 3.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Virtus Seix Tax-Exempt Bond Fund
  • Fund Family Name
    Virtus Funds
  • Inception Date
    Sep 23, 2016
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Lisa Leonard

Fund Description

The fund seeks to generate current income exempt from federal income taxes by investing in a diversified portfolio with municipal bonds of varying maturities. The management team focuses on higher quality tax-exempt municipal bonds, gauging the value of a security by issue type, credit quality, and bond structure; however, the fund may invest up to 20% of its net assets in below investment grade tax-exempt municipal bonds. Below investment grade tax-exempt municipal bonds are considered high-yield/high-risk fixed income securities (so-called “junk bonds”).

Under normal circumstances, as a matter of fundamental policy, the fund invests at least 80% of its assets in municipal bonds, the income from which is exempt from federal income taxes. The portion of the fund’s assets not invested in tax-exempt securities may be invested in taxable fixed income securities. Income from these taxable investments may be subject to federal, state, and local taxes.

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HXBIX - Performance

Return Ranking - Trailing

Period HXBIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.6% -2.6% 33.5% 52.75%
1 Yr 2.9% -4.8% 29.8% 44.18%
3 Yr -1.0%* -11.0% 6103.8% 38.46%
5 Yr 1.3%* -4.9% 1103.3% 46.56%
10 Yr N/A* -0.3% 248.0% 47.24%

* Annualized

Return Ranking - Calendar

Period HXBIX Return Category Return Low Category Return High Rank in Category (%)
2022 -10.1% -40.2% 0.3% 37.35%
2021 -1.3% -5.6% 6.9% 86.23%
2020 1.2% -2.6% 310.0% 72.76%
2019 4.0% 0.0% 26.0% 38.49%
2018 -2.8% -25.2% 11.0% 78.49%

Total Return Ranking - Trailing

Period HXBIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.6% -2.6% 33.5% 52.75%
1 Yr 2.9% -4.8% 29.8% 44.18%
3 Yr -1.0%* -11.0% 6103.8% 38.46%
5 Yr 1.3%* -4.9% 1103.3% 46.56%
10 Yr N/A* -0.3% 248.0% 44.81%

* Annualized

Total Return Ranking - Calendar

Period HXBIX Return Category Return Low Category Return High Rank in Category (%)
2022 -7.3% -40.2% 1.1% 29.83%
2021 2.3% -4.8% 23761504.0% 30.03%
2020 4.5% -1.5% 17127.1% 41.97%
2019 6.1% 0.2% 3514.6% 59.79%
2018 1.3% -11.3% 15.0% 17.66%

NAV & Total Return History

HXBIX - Holdings

Concentration Analysis

HXBIX Category Low Category High HXBIX % Rank
Net Assets 65.8 M 3.48 M 68.1 B 90.38%
Number of Holdings 93 2 13001 88.09%
Net Assets in Top 10 20.9 M -317 M 5.07 B 85.22%
Weighting of Top 10 31.79% 1.4% 100.2% 10.52%

Top 10 Holdings

  1. Metropolitan Washington Airports Authority Dulles Toll Road Revenue 4.92%
  2. State of Florida 4.86%
  3. Pennsylvania Turnpike Commission 3.68%
  4. Public Authority for Colorado Energy 3.58%
  5. Seminole County School Board 3.02%
  6. School Board of Miami-Dade County/The 2.62%
  7. Indiana Finance Authority 2.59%
  8. Texas Municipal Gas Acquisition and Supply Corp II 2.37%
  9. Northwest Independent School District 2.20%
  10. State of Illinois 1.95%

Asset Allocation

Weighting Return Low Return High HXBIX % Rank
Bonds 		96.66% 0.00% 150.86% 81.29%
Cash 		3.34% -50.86% 48.14% 15.35%
Stocks 		0.00% 0.00% 99.82% 52.13%
Preferred Stocks 		0.00% 0.00% 0.52% 45.99%
Other 		0.00% -8.54% 33.35% 50.13%
Convertible Bonds 		0.00% 0.00% 0.93% 46.10%

Bond Sector Breakdown

Weighting Return Low Return High HXBIX % Rank
Municipal 		99.06% 44.39% 100.00% 38.62%
Derivative 		0.00% -8.54% 24.50% 48.28%
Cash & Equivalents 		0.00% 0.00% 48.14% 77.01%
Securitized 		0.00% 0.00% 5.93% 46.93%
Corporate 		0.00% 0.00% 9.41% 56.14%
Government 		0.00% 0.00% 52.02% 50.26%

Bond Geographic Breakdown

Weighting Return Low Return High HXBIX % Rank
US 		96.66% 0.00% 142.23% 78.03%
Non US 		0.00% 0.00% 23.89% 50.45%

HXBIX - Expenses

Operational Fees

HXBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.77% 0.03% 20.65% 46.36%
Management Fee 0.45% 0.00% 1.20% 59.96%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.01% 0.44% 40.80%

Sales Fees

HXBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

HXBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

HXBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 283.00% 2.24%

HXBIX - Distributions

Dividend Yield Analysis

HXBIX Category Low Category High HXBIX % Rank
Dividend Yield 2.97% 0.00% 4.57% 49.27%

Dividend Distribution Analysis

HXBIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

HXBIX Category Low Category High HXBIX % Rank
Net Income Ratio 2.30% -0.53% 5.33% 30.24%

Capital Gain Distribution Analysis

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

Distributions History

View More +

HXBIX - Fund Manager Analysis

Managers

Lisa Leonard

Start Date

Tenure

Tenure Rank

Jun 15, 2012

9.96

10.0%

Lisa Leonard is a managing director and portfolio manager of municipal securities at Newfleet Asset Management. Ms. Leonard specializes in both taxable and tax-exempt municipal bonds. She manages a number of municipal bond portfolios, including the Virtus Newfleet Tax-Exempt Bond Fund, high-net-worth portfolios for Newfleet, and institutional portfolios for an affiliated manager, Duff & Phelps Investment Management Co. She is also on the management team of DTF Tax-Free Income, Inc., a closed-end fund, for affiliated manager Duff & Phelps Investment Management Co. Ms. Leonard has been with Newfleet and its affiliates since 1987 in successive fixed income roles. Prior to joining Newfleet in 2011, she was a vice president and portfolio manager, fixed income of Virtus Investment Advisers (VIA) from 2008 to 2011. Previously, she was associated with Phoenix Investment Counsel, formerly an affiliate of VIA, and was also director, municipal research (1998-2007); director, investment operations (1994-1998); and fixed income trader (1987-1993). Previously, Ms. Leonard was a municipal finance analyst with Connecticut Bank & Trust. She holds a B.S. from the University of Connecticut and began her career in the investment industry in 1986.

Timothy Heaney

Start Date

Tenure

Tenure Rank

Jun 15, 2012

9.96

10.0%

Tim Heaney is a senior managing director and senior portfolio manager of municipal securities at Newfleet Asset Management. Mr. Heaney specializes in both taxable and tax-exempt municipal bonds. He manages a variety of municipal bond portfolios, including the Virtus Newfleet Tax-Exempt Bond Fund, high-net-worth portfolios for Newfleet, as well as institutional portfolios and the DTF Tax-Free Income, Inc., a closed-end fund, for affiliated manager Duff & Phelps Investment Management Co. Mr. Heaney has been with Newfleet and its affiliates since 1992 in successive fixed income roles. Prior to joining Newfleet in 2011, he was a senior vice president and portfolio manager of Virtus Investment Advisers (VIA) from 2008 to 2011. Previously, he was associated with Phoenix Investment Counsel, formerly an affiliate of VIA, and was also managing director, fixed income (1997-2007); director, fixed income research (1996-1997); and investment analyst (1995-1996). He was an investment analyst of Phoenix Life Insurance Company from 1992 to 1994. Previously, Mr. Heaney was a senior credit analyst in the commercial lending division at Connecticut National Bank. Mr. Heaney holds a B.S. and an M.B.A. from the University of Connecticut. He is a CFA® (Chartered Financial Analyst®) charterholder. He began his career in the investment industry in 1990.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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