SFRCX - Snapshot
Vitals
- YTD Return 1.6%
- 3 Yr Annualized Return 2.1%
- 5 Yr Annualized Return 3.1%
- Net Assets $2.19 B
- Holdings in Top 10 12.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING RELATED FEES
- Expense Ratio 1.52%
SALES FEES
- Front Load N/A
- Deferred Load 1.00%
BROKERAGE FEES
- Turnover 68.00%
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) $2,500
- IRA $100
Fund Classification
-
Primary Theme
Bank Loan
- Fund Type Open End Mutual Fund
- Investment Style Bank Loan
SFRCX - Profile
Distributions
- YTD Total Return 1.6%
- 3 Yr Annualized Total Return 2.1%
- 5 Yr Annualized Total Return 3.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.19%
- Dividend Yield 2.5%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVirtus Seix Floating Rate High Income Fund
-
Fund Family NameVirtus
-
Inception DateAug 02, 2007
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerGeorge Goudelias
Fund Description
The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in a combination of first- and second-lien senior floating rate loans and other floating rate debt instruments. It may invest up to 20% of its total assets in senior loans made to non-U.S. borrowers provided that no more than 5% of the portfolio's loans are non-U.S. dollar denominated.
SFRCX - Performance
Return Ranking - Trailing
| Period | SFRCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.6% | -2.0% | 10.5% | 30.53% |
| 1 Yr | 9.4% | 2.1% | 54.6% | 80.32% |
| 3 Yr | 2.1%* | -0.8% | 5.9% | 87.86% |
| 5 Yr | 3.1%* | 1.5% | 8.6% | 85.38% |
| 10 Yr | 2.9%* | 1.8% | 6.6% | 85.95% |
* Annualized
Return Ranking - Calendar
| Period | SFRCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | -3.7% | -16.5% | 289.8% | 71.63% |
| 2019 | 1.2% | -8.1% | 7.5% | 83.76% |
| 2018 | -4.6% | -12.2% | 5.5% | 44.96% |
| 2017 | N/A | -4.2% | 3.7% | N/A |
| 2016 | N/A | -65.0% | 12.9% | N/A |
Total Return Ranking - Trailing
| Period | SFRCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.6% | -2.0% | 10.5% | 30.53% |
| 1 Yr | 8.4% | 1.1% | 54.6% | 81.38% |
| 3 Yr | 2.1%* | -1.3% | 10.2% | 84.54% |
| 5 Yr | 3.1%* | 1.5% | 8.6% | 82.83% |
| 10 Yr | 2.9%* | 1.8% | 6.6% | 83.85% |
* Annualized
Total Return Ranking - Calendar
| Period | SFRCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | -3.7% | -16.5% | 289.8% | 71.63% |
| 2019 | 1.2% | -8.1% | 7.5% | 83.76% |
| 2018 | -4.6% | -12.2% | 5.5% | 51.94% |
| 2017 | N/A | -4.2% | 7.2% | N/A |
| 2016 | N/A | -65.0% | 12.9% | N/A |
NAV & Total Return History
SFRCX - Holdings
Concentration Analysis
| SFRCX | Category Low | Category High | SFRCX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.19 B | 10 M | 9.05 B | 25.74% |
| Number of Holdings | 503 | 12 | 1358 | 24.10% |
| Net Assets in Top 10 | 273 M | -171 M | 2.09 B | 28.01% |
| Weighting of Top 10 | 12.49% | 5.2% | 94.1% | 66.77% |
Top 10 Holdings
- Dreyfus Government Cash Mgmt Instl 4.84%
- Asurion Llc Term Loan B4 1.73%
- Asurion Llc Term Loan B4 1.73%
- Asurion Llc Term Loan B4 1.73%
- Asurion Llc Term Loan B4 1.73%
- Asurion Llc Term Loan B4 1.73%
- Asurion Llc Term Loan B4 1.73%
- Asurion Llc Term Loan B4 1.73%
- Asurion Llc Term Loan B4 1.73%
- Asurion Llc Term Loan B4 1.73%
Asset Allocation
| Weighting | Return Low | Return High | SFRCX % Rank | |
|---|---|---|---|---|
| Bonds | 97.36% | 43.06% | 172.61% | 28.61% |
| Cash | 1.10% | -72.73% | 55.70% | 80.72% |
| Other | 0.70% | -54.12% | 14.38% | 15.06% |
| Stocks | 0.42% | 0.00% | 15.04% | 44.58% |
| Convertible Bonds | 0.40% | 0.00% | 3.77% | 14.76% |
| Preferred Stocks | 0.02% | 0.00% | 26.72% | 43.07% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SFRCX % Rank | |
|---|---|---|---|---|
| Energy | 98.38% | 0.00% | 100.00% | 11.33% |
| Technology | 1.17% | 0.00% | 100.00% | 10.16% |
| Consumer Cyclical | 0.45% | 0.00% | 73.51% | 41.80% |
| Utilities | 0.00% | 0.00% | 100.00% | 85.55% |
| Real Estate | 0.00% | 0.00% | 27.25% | 80.86% |
| Industrials | 0.00% | 0.00% | 100.00% | 87.89% |
| Healthcare | 0.00% | 0.00% | 99.69% | 83.20% |
| Financial Services | 0.00% | 0.00% | 100.00% | 82.03% |
| Communication Services | 0.00% | 0.00% | 99.96% | 94.14% |
| Consumer Defense | 0.00% | 0.00% | 33.89% | 85.16% |
| Basic Materials | 0.00% | 0.00% | 27.85% | 84.38% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SFRCX % Rank | |
|---|---|---|---|---|
| US | 0.42% | -0.01% | 15.33% | 42.17% |
| Non US | 0.00% | -0.29% | 2.76% | 85.24% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | SFRCX % Rank | |
|---|---|---|---|---|
| Corporate | 92.82% | 0.00% | 100.00% | 34.14% |
| Cash & Equivalents | 7.18% | 0.00% | 58.10% | 50.15% |
| Derivative | 0.00% | 0.00% | 8.76% | 81.57% |
| Securitized | 0.00% | 0.00% | 100.00% | 87.31% |
| Municipal | 0.00% | 0.00% | 0.56% | 80.36% |
| Government | 0.00% | 0.00% | 5.93% | 81.27% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | SFRCX % Rank | |
|---|---|---|---|---|
| US | 76.83% | 3.54% | 128.54% | 52.41% |
| Non US | 20.53% | 0.00% | 128.52% | 34.04% |
SFRCX - Expenses
Operational Fees
| SFRCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.52% | 0.02% | 7.50% | 38.70% |
| Management Fee | 0.42% | 0.00% | 2.40% | 4.83% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 95.86% |
| Administrative Fee | 0.10% | 0.03% | 0.40% | 49.52% |
Sales Fees
| SFRCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 3.00% | 91.76% |
Trading Fees
| SFRCX 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.
| SFRCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 68.00% | 8.00% | 412.00% | 64.16% |
SFRCX - Distributions
Dividend Yield Analysis
| SFRCX | Category Low | Category High | SFRCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.53% | 0.00% | 4.58% | 80.30% |
Dividend Distribution Analysis
| SFRCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| SFRCX | Category Low | Category High | SFRCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.19% | 1.57% | 10.93% | 88.11% |
Capital Gain Distribution Analysis
| SFRCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Dividend Payout History
| Date | Amount |
|---|---|
| Jun 28, 2019 | $0.029 |
| May 31, 2019 | $0.035 |
| Apr 30, 2019 | $0.031 |
| Mar 29, 2019 | $0.032 |
| Feb 28, 2019 | $0.030 |
| Jan 31, 2019 | $0.032 |
| Dec 31, 2018 | $0.031 |
| Nov 30, 2018 | $0.032 |
| Oct 31, 2018 | $0.033 |
| Aug 31, 2018 | $0.033 |
| Jul 31, 2018 | $0.028 |
| Jun 29, 2018 | $0.028 |
| May 31, 2018 | $0.028 |
| Apr 30, 2018 | $0.028 |
| Mar 29, 2018 | $0.030 |
| Feb 28, 2018 | $0.024 |
| Jan 31, 2018 | $0.026 |
| Dec 29, 2017 | $0.026 |
| Nov 30, 2017 | $0.025 |
| Oct 31, 2017 | $0.024 |
| Oct 02, 2017 | $0.023 |
| Sep 01, 2017 | $0.026 |
| Aug 01, 2017 | $0.025 |
SFRCX - Fund Manager Analysis
Managers
George Goudelias
Start Date
Tenure
Tenure Rank
Mar 01, 2006
15.34
15.3%
George is a senior member of the high yield division and leads the firm’s bank loan group. He serves as a senior portfolio manager on the Bank Loan Management Strategy and senior research analyst covering cable and telecommunications. Since the 2005 inception, George has led the bank loan group and also oversees the firm’s collateralized loan obligation platform. George has extensive experience covering the telecommunications and cable industries and is well known on both the sell side and buy side of the business. Prior to joining Seix he was a senior high yield research analyst at J.P. Morgan Securities and was a member of Institutional Investor’s 2nd highest ranked high yield team. George received both a B.S. degree in Finance and Accounting and an M.B.A. degree in Finance from New York University.
Vincent Flanagan
Start Date
Tenure
Tenure Rank
Aug 01, 2011
9.92
9.9%
Vince is an experienced leveraged finance research analyst focused on the media and technology industries and became a portfolio manager on the Leveraged Loan Strategy in October of 2011. Before joining Seix he was the director of research for Assurant, Inc., covering the telecommunications, cable/media, utility and broadcasting industries. Vince began his career at TD Securities advancing to a senior high yield research analyst, where he focused on US and Canadian wireless carriers. Vince received a B.S. degree in Finance from New York University and is a CFA Charterholder.
Eric Guevara
Start Date
Tenure
Tenure Rank
Aug 30, 2019
1.84
1.8%
Mr. Guevara joined Seix Investment Advisors in 2000 and serves as a Portfolio Manager and Senior Leveraged Loan Trader. Mr. Guevara began his career as a trade flow administrator and gained experience as a junior trader in the investment grade group before moving into his current position in the leveraged loan group in 2006. He has worked in investment management since 2000.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 22.68 | 5.96 | 2.33 |