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Name

As of 11/28/2023

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

DWS High Income Fund

KHYCX | Fund

$4.23

$529 M

5.32%

$0.22

1.76%

Vitals

YTD Return

5.6%

1 yr return

5.1%

3 Yr Avg Return

-0.2%

5 Yr Avg Return

2.9%

Net Assets

$529 M

Holdings in Top 10

15.7%

52 WEEK LOW AND HIGH

$4.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.76%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 68.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

$500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/28/2023

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

DWS High Income Fund

KHYCX | Fund

$4.23

$529 M

5.32%

$0.22

1.76%

KHYCX - Profile

Distributions

  • YTD Total Return 5.6%
  • 3 Yr Annualized Total Return -0.2%
  • 5 Yr Annualized Total Return 2.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.44%
DIVIDENDS
  • Dividend Yield 5.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    DWS High Income Fund
  • Fund Family Name
    DWS Funds
  • Inception Date
    May 31, 1994
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Gary Russell

Fund Description

Main investments. Under normal circumstances, the fund generally invests at least 65% of net assets, plus the amount of any borrowings for investment purposes, in junk bonds, which are those rated below the fourth highest credit rating category (that is, grade BB/Ba and below) or, if unrated, determined by the Advisor to be of similar quality. Compared to investment-grade debt securities, junk bonds generally pay higher yields, have higher volatility and higher risk of default on payments of interest and principal. The fund may invest up to 50% of total assets in bonds denominated in US dollars or foreign currencies from foreign issuers, including issuers in emerging markets. The fund invests in securities of varying maturities and intends to maintain a dollar-weighted effective average portfolio maturity that will not exceed ten years. Subject to its portfolio maturity policy, the fund may purchase individual securities with any stated maturity. Because the fund may invest in fixed income securities of varying maturities, the fund's dollar-weighted average effective portfolio maturity will vary. As of December 31, 2022, the fund had a dollar-weighted average effective portfolio maturity of 4.91 years.Management process. Portfolio management focuses on cash flow and total return analysis, and broad diversification among countries, sectors, industries and individual issuers and maturities. Portfolio management uses an active process that emphasizes relative value, managing on a total return basis, and intensive research to identify stable to improving credit situations that may provide yield compensation for the risk of investing in junk bonds.Portfolio management utilizes primarily a bottom-up approach, where relative value and fundamental analysis are used to select securities within each industry, and a top-down approach to assess the overall risk and return in the market, including macroeconomic trends. Portfolio management also incorporates other considerations that it believes to be financially material, including environmental, social and governance (ESG) factors, independent credit research, management visits and conference calls, as part of its analysis and research process.Derivatives. Portfolio management generally may use credit default swaps, which are a type of derivative (a contract whose value is based on, for example, indices, currencies or securities) to seek to increase the fund’s income, to gain exposure to a bond issuer’s credit quality characteristics without directly investing in the bond, or to hedge the risk of default on bonds held in the fund’s portfolio. In addition, portfolio management generally may use forward currency contracts to hedge exposure to changes in foreign currency exchange rates on foreign currency denominated portfolio holdings or to facilitate transactions in foreign currency denominated securities.The fund may also use other types of derivatives (i) for hedging purposes; (ii) for risk management; (iii) for non-hedging purposes to seek to enhance potential gains; or (iv) as a substitute for direct investment in a particular asset class or to keep cash on hand to meet shareholder redemptions.Securities lending. The fund may lend securities (up to one-third of total assets) to approved institutions, such as registered broker-dealers, banks and pooled investment vehicles.
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KHYCX - Performance

Return Ranking - Trailing

Period KHYCX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% -9.1% 12.5% 86.24%
1 Yr 5.1% -11.6% 73.2% 86.69%
3 Yr -0.2%* -15.5% 19.7% 75.27%
5 Yr 2.9%* -11.3% 37.3% 65.61%
10 Yr N/A* -4.6% 19.4% 74.95%

* Annualized

Return Ranking - Calendar

Period KHYCX Return Category Return Low Category Return High Rank in Category (%)
2022 -13.5% -33.4% 3.6% 21.97%
2021 -0.8% -8.4% 8.2% 79.32%
2020 1.0% -13.2% 302.7% 25.44%
2019 9.3% -4.4% 13.3% 15.68%
2018 -7.8% -18.4% -0.4% 37.13%

Total Return Ranking - Trailing

Period KHYCX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.6% -9.1% 12.5% 86.24%
1 Yr 5.1% -11.6% 73.2% 86.69%
3 Yr -0.2%* -15.5% 19.7% 75.27%
5 Yr 2.9%* -11.3% 37.3% 65.61%
10 Yr N/A* -4.6% 19.4% 70.17%

* Annualized

Total Return Ranking - Calendar

Period KHYCX Return Category Return Low Category Return High Rank in Category (%)
2022 -9.7% -33.4% 47.8% 33.63%
2021 2.9% -8.4% 12.4% 89.74%
2020 5.1% -9.6% 325.6% 57.12%
2019 14.0% 0.9% 19.4% 46.04%
2018 -3.4% -10.7% 4.5% 57.97%

NAV & Total Return History

KHYCX - Holdings

Concentration Analysis

KHYCX Category Low Category High KHYCX % Rank
Net Assets 529 M 1.85 M 22.6 B 45.61%
Number of Holdings 350 2 2736 48.60%
Net Assets in Top 10 82.9 M -492 M 4.6 B 45.08%
Weighting of Top 10 15.68% 4.2% 149.0% 42.14%

Top 10 Holdings

  1. DWS Government Agency Securities Portfolio DWS Government Cash Institutional Shares 4.71%
  2. DWS Central Cash Management Government Fund 2.55%
  3. CCO Holdings LLC / CCO Holdings Capital Corp 1.32%
  4. Caesars Entertainment Inc 1.21%
  5. Ford Motor Co 1.12%
  6. CCO Holdings LLC / CCO Holdings Capital Corp 1.07%
  7. First Quantum Minerals Ltd 1.02%
  8. Royal Caribbean Cruises Ltd 0.94%
  9. Novelis Corp 0.91%
  10. Virgin Media Secured Finance PLC 0.82%

Asset Allocation

Weighting Return Low Return High KHYCX % Rank
Bonds 		95.31% 0.00% 154.38% 41.81%
Cash 		7.26% -52.00% 50.57% 20.85%
Stocks 		0.81% 0.00% 99.61% 39.77%
Convertible Bonds 		0.38% 0.00% 17.89% 84.58%
Other 		0.04% -63.70% 97.63% 38.18%
Preferred Stocks 		0.00% 0.00% 7.46% 86.20%

Stock Sector Breakdown

Weighting Return Low Return High KHYCX % Rank
Utilities 		0.00% 0.00% 100.00% 77.78%
Technology 		0.00% 0.00% 33.17% 75.78%
Real Estate 		0.00% 0.00% 86.71% 76.92%
Industrials 		0.00% 0.00% 100.00% 16.81%
Healthcare 		0.00% 0.00% 22.17% 76.35%
Financial Services 		0.00% 0.00% 100.00% 77.78%
Energy 		0.00% 0.00% 100.00% 83.76%
Communication Services 		0.00% 0.00% 99.99% 80.63%
Consumer Defense 		0.00% 0.00% 100.00% 72.93%
Consumer Cyclical 		0.00% 0.00% 100.00% 83.48%
Basic Materials 		0.00% 0.00% 100.00% 77.78%

Stock Geographic Breakdown

Weighting Return Low Return High KHYCX % Rank
US 		0.81% 0.00% 99.61% 39.35%
Non US 		0.00% -0.01% 0.83% 81.20%

Bond Sector Breakdown

Weighting Return Low Return High KHYCX % Rank
Corporate 		95.05% 0.00% 129.69% 50.59%
Cash & Equivalents 		7.26% 0.00% 50.57% 18.94%
Derivative 		0.04% -12.66% 42.26% 19.82%
Securitized 		0.00% 0.00% 97.24% 90.44%
Municipal 		0.00% 0.00% 4.66% 82.65%
Government 		0.00% 0.00% 99.07% 85.88%

Bond Geographic Breakdown

Weighting Return Low Return High KHYCX % Rank
US 		91.39% 0.00% 129.21% 62.56%
Non US 		3.93% 0.00% 97.19% 22.61%

KHYCX - Expenses

Operational Fees

KHYCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.76% 0.04% 31.61% 15.12%
Management Fee 0.46% 0.00% 1.84% 23.90%
12b-1 Fee 1.00% 0.00% 1.00% 96.76%
Administrative Fee 0.10% 0.00% 0.50% 44.22%

Sales Fees

KHYCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load 1.00% 1.00% 5.00% 82.56%

Trading Fees

KHYCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 47.96%

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.

KHYCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 68.00% 1.00% 255.00% 61.79%

KHYCX - Distributions

Dividend Yield Analysis

KHYCX Category Low Category High KHYCX % Rank
Dividend Yield 5.32% 0.00% 35.62% 97.95%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

KHYCX Category Low Category High KHYCX % Rank
Net Income Ratio 3.44% -2.39% 14.30% 86.55%

Capital Gain Distribution Analysis

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

Distributions History

View More +

KHYCX - Fund Manager Analysis

Managers

Gary Russell

Start Date

Tenure

Tenure Rank

Aug 01, 2006

15.84

15.8%

Gary Russell, CFA, Managing Director and Portfolio Manager. · Joined Deutsche Asset & Wealth Management in 1996. Served as the head of the High Yield group in Europe and as an Emerging Markets portfolio manager. · Prior to that, four years at Citicorp as a research analyst and structurer of collateralized mortgage obligations. Prior to Citicorp, served as an officer in the US Army from 1988 to 1991. ·BS, United States Military Academy (West Point); MBA, New York University, Stern School of Business.

Thomas Bouchard

Start Date

Tenure

Tenure Rank

Feb 01, 2016

6.33

6.3%

THOMAS R. BOUCHARD, Director, vice president and Portfolio Manager, Joined Deutsche Asset Management in 2006 with 6 years of industry experience. Prior to joining, served as a High Yield Investment Analyst at Flagship Capital Management. He also served as an officer in the US Army from 1989 to 1997. BS, University of Wisconsin - Madison; MBA in Finance, Boston College; MA in Strategic Studies from US Army War College.

Lonnie Fox

Start Date

Tenure

Tenure Rank

Aug 09, 2018

3.81

3.8%

Lonnie Fox, Director. Portfolio Manager, joined DWS in 2004 with one year of industry experience. Prior to his current role, he worked as a high yield credit analyst. Prior to joining, he served as a business analyst at Deloitte Consulting. BS in Applied Economics and Management, Cornell University; MBA in Finance and Strategy, New York University, Stern School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.13 8.17

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