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Name

As of 04/24/2024

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

Touchstone Impact Bond Fund

TCPYX | Fund

$8.76

$555 M

3.63%

$0.32

0.51%

Vitals

YTD Return

-2.6%

1 yr return

-1.0%

3 Yr Avg Return

-3.5%

5 Yr Avg Return

-0.1%

Net Assets

$555 M

Holdings in Top 10

13.9%

52 WEEK LOW AND HIGH

$8.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.51%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 24.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/24/2024

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

Touchstone Impact Bond Fund

TCPYX | Fund

$8.76

$555 M

3.63%

$0.32

0.51%

TCPYX - Profile

Distributions

  • YTD Total Return -2.6%
  • 3 Yr Annualized Total Return -3.5%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.68%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Touchstone Impact Bond Fund
  • Fund Family Name
    Touchstone Funds
  • Inception Date
    Sep 30, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Y
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Christopher Fitze

Fund Description

The Fund invests, under normal circumstances, at least 80% of its net assets (including borrowings for investment purposes) in fixed-income securities that meet certain positive impact criteria. This is a non-fundamental investment policy that can be changed by the Fund upon 60 days’ prior notice to shareholders. Fixed-income securities primarily consist of U.S. government obligations, corporate debt obligations (including non-investment-grade corporate debt obligations), mortgage-backed securities, asset-backed securities and taxable and tax-exempt municipal securities. U.S. government obligations include direct government obligations and those of government agencies and instrumentalities. Corporate debt obligations include corporate bonds, debentures, notes and other similar instruments of U.S. corporations. Investment-grade fixed-income securities include securities rated BBB- or higher by S&P Global Ratings (“S&P”) or Baa3 or higher by Moody’s Investors Service, Inc. (“Moody’s”) or, if unrated by S&P or Moody’s, determined by the sub-adviser, EARNEST Partners LLC (“EARNEST”), to be of comparable quality. The Fund’s investment policies are based on credit ratings at the time of purchase.The Fund will generally invest at least 90% of its total assets in investment-grade debt securities, but may invest up to 10% of its total assets in non-investment-grade debt securities, which are sometimes referred to as “junk bonds.”The securities in which the Fund invests may pay interest at fixed rates, variable rates, or subject to reset terms. In addition, these securities may make principal payments that are fixed, variable, or both. The Fund may also invest in mortgage dollar rolls and zero coupon securities. The Fund can invest in securities of any maturity.EARNEST believes that entities that are cognizant of environmental, social, and governance (“ESG”) issues tend to be more successful over time. As a result, EARNEST prefers to invest in government programs and companies that have sustainable operating models and seek to achieve positive aggregate societal impact. The Fund focuses on governmental programs and companies that seek to achieve positive aggregate societal impacts in up to four specific areas: empowering the individual, community development, environmental responsibility, and sustainable infrastructure. Investments may seek to achieve multiple areas of impact. This inclusive approach views positive impact characteristics as additive to an investment’s risk/return profile. When assessing an investment’s impact profile, EARNEST considers a wide range of factors, including but not limited to support for economic development, home ownership, and job creation.
Read More

TCPYX - Performance

Return Ranking - Trailing

Period TCPYX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.6% -12.1% 2.8% 44.98%
1 Yr -1.0% -10.5% 10.4% 57.98%
3 Yr -3.5%* -11.0% 24.7% 41.22%
5 Yr -0.1%* -7.0% 190.5% 60.18%
10 Yr 1.2%* -2.6% 73.3% 51.08%

* Annualized

Return Ranking - Calendar

Period TCPYX Return Category Return Low Category Return High Rank in Category (%)
2023 1.9% -16.2% 8.1% 59.64%
2022 -15.2% -34.7% 131.9% 25.71%
2021 -2.9% -11.6% 4.4% 30.03%
2020 4.4% -10.1% 946.1% 43.39%
2019 5.1% -1.7% 16.9% 67.39%

Total Return Ranking - Trailing

Period TCPYX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.6% -12.1% 2.8% 44.98%
1 Yr -1.0% -10.5% 10.4% 57.98%
3 Yr -3.5%* -11.0% 24.7% 41.22%
5 Yr -0.1%* -7.0% 190.5% 60.18%
10 Yr 1.2%* -2.6% 73.3% 51.08%

* Annualized

Total Return Ranking - Calendar

Period TCPYX Return Category Return Low Category Return High Rank in Category (%)
2023 5.3% -11.3% 11.0% 75.72%
2022 -13.1% -32.2% 131.9% 32.76%
2021 -1.0% -9.4% 9.2% 51.22%
2020 6.7% -1.9% 1009.0% 82.82%
2019 7.9% 1.1% 21668.0% 75.55%

NAV & Total Return History

TCPYX - Holdings

Concentration Analysis

TCPYX Category Low Category High TCPYX % Rank
Net Assets 555 M 2.9 M 314 B 63.58%
Number of Holdings 263 1 17889 81.07%
Net Assets in Top 10 75.9 M -106 M 36.5 B 73.08%
Weighting of Top 10 13.88% 4.4% 134.1% 85.42%

Top 10 Holdings

  1. T 2.875 05/15/52 2.44%
  2. SP 0 05/15/43 1.75%
  3. SBAP 2022-25I 1 1.68%
  4. SP 0 05/15/45 1.48%
  5. FN FS1887 1.22%
  6. G2 MA9171 1.10%
  7. T 1.875 02/15/51 1.09%
  8. SBAP 2023-25F 1 1.08%
  9. FN MA4784 1.03%
  10. FN MA4783 1.03%

Asset Allocation

Weighting Return Low Return High TCPYX % Rank
Bonds 		68.86% 0.00% 215.98% 95.28%
Other 		29.45% -13.23% 50.66% 2.17%
Cash 		1.69% -54.51% 79.52% 65.68%
Stocks 		0.00% 0.00% 99.93% 55.61%
Preferred Stocks 		0.00% 0.00% 74.68% 51.38%
Convertible Bonds 		0.00% 0.00% 7.93% 90.37%

Bond Sector Breakdown

Weighting Return Low Return High TCPYX % Rank
Securitized 		34.71% 0.00% 98.40% 34.36%
Corporate 		27.08% 0.00% 100.00% 60.28%
Government 		26.87% 0.00% 86.23% 44.09%
Municipal 		9.00% 0.00% 100.00% 4.17%
Cash & Equivalents 		0.93% 0.00% 76.23% 72.68%
Derivative 		0.00% -3.37% 50.66% 61.05%

Bond Geographic Breakdown

Weighting Return Low Return High TCPYX % Rank
US 		68.86% 0.00% 215.98% 93.98%
Non US 		0.00% 0.00% 39.04% 59.17%

TCPYX - Expenses

Operational Fees

TCPYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.51% 0.01% 39.10% 71.27%
Management Fee 0.25% 0.00% 1.76% 14.64%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.50% 68.16%

Sales Fees

TCPYX 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% 5.00% N/A

Trading Fees

TCPYX 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.

TCPYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 24.00% 2.00% 493.39% 4.98%

TCPYX - Distributions

Dividend Yield Analysis

TCPYX Category Low Category High TCPYX % Rank
Dividend Yield 3.63% 0.00% 10.22% 68.31%

Dividend Distribution Analysis

TCPYX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Monthly

Net Income Ratio Analysis

TCPYX Category Low Category High TCPYX % Rank
Net Income Ratio 1.68% -1.28% 4.79% 52.07%

Capital Gain Distribution Analysis

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

Distributions History

View More +

TCPYX - Fund Manager Analysis

Managers

Christopher Fitze

Start Date

Tenure

Tenure Rank

Dec 31, 2006

15.42

15.4%

Mr. Fitze is a member of the investment team at EARNEST Partners. He holds an MBA from the University of Chicago Booth School Of Business and a BA in Economics from Emory University, where he was an Academic All-American in golf and a member of the International Economics Honor Society. His graduate studies concentrated on the impact of fiscal and monetary policy on interest rates along with other areas of finance and economics. He is also a member of the CFA Institute and the CFA Society Atlanta.

Thomas Venezia

Start Date

Tenure

Tenure Rank

Jan 30, 2021

1.33

1.3%

Thomas Venezia, CFA, Associate Director, has been with EARNEST since 2014. His prior experience includes seven years with GenOn Energy Management (acquired by NRG) where he was responsible for hedging the company’s fuel liabilities and utility assets and managing risk with respect to the company’s proprietary trade books.

Tenure Analysis

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

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