VY® BrandywineGLOBAL - Bond Portfolio
Fund
VGSBX
Price as of:
$9.25
- $0.02
- 0.22%
Primary Theme
fund company
Name
As of 11/21/2024Price
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
Vitals
YTD Return
0.8%
1 yr return
6.9%
3 Yr Avg Return
-2.0%
5 Yr Avg Return
2.3%
Net Assets
$211 M
Holdings in Top 10
81.8%
52 WEEK LOW AND HIGH
$9.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.55%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 57.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/21/2024Price
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
VGSBX - Profile
Distributions
- YTD Total Return 0.8%
- 3 Yr Annualized Total Return -2.0%
- 5 Yr Annualized Total Return 2.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.84%
- Dividend Yield 4.5%
- Dividend Distribution Frequency Annual
Fund Details
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Legal NameVY® BrandywineGLOBAL - Bond Portfolio
-
Fund Family NameVoya
-
Inception DateFeb 20, 2015
-
Shares OutstandingN/A
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Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
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ManagerDavid Hoffman
Fund Description
Under normal market conditions, the Portfolio invests at least 80% of its net assets (plus borrowings for investment purposes) in bonds and other fixed-income securities. The Portfolio will provide 60 days’ prior notice of any change in this investment policy. For purposes of satisfying the 80% requirement, the Portfolio may also invest in derivative instruments that have the economic characteristics similar to bonds and other debt instruments. The other debt instruments in which the Portfolio may invest include securities issued or guaranteed by the U.S. government, its agencies, instrumentalities or sponsored enterprises, corporate debt instruments (including Yankee bonds, Eurobonds, and Supranational bonds), taxable municipal bonds, collateralized loan obligations (“CLOs”), agency and non-agency mortgage-related securities (including without limitation collateralized mortgage obligations), asset-backed securities (including without limitation collateralized debt obligations) foreign (non-U.S.) sovereign debt obligations issued in U.S. dollars, and foreign (non-U.S.) agency debt obligations issued in U.S. dollars. The Portfolio may also hold a portion of its assets in cash and cash equivalents.The Portfolio may also invest in derivatives, including forward foreign currency exchange contracts, futures, options, and swaps (including credit default swaps) involving securities, securities indices and interest rates, which may be denominated in the U.S. dollar or foreign (non-U.S.) currencies. The Portfolio typically uses derivatives to reduce exposure to other risks, such as interest rate or currency risk, to substitute for taking a position in the underlying asset, and/or to enhance returns in the Portfolio.The Portfolio’s sub-adviser (the “Sub-Adviser”) follows a value-driven, active, strategic approach to portfolio decisions that considers duration, yield curve exposure, credit exposure, and sector weightings that are based upon the broad investment themes of its global macroeconomic research platform as they apply to U.S. markets. As part of its investment process, the Sub-Adviser develops an outlook for macroeconomic variables such as inflation, growth, and unemployment in the U.S. as well as in other countries that may impact U.S. fixed-income sectors. The Sub-Adviser then develops a viewpoint on the business cycle and positions the strategy’s duration, sector weighting and credit exposures accordingly. The strategy incorporates analysis of material environmental, social, and governance (“ESG”) issues that may impact an investment's risk profile and performance.The Sub-Adviser expects that the Portfolio’s weighted average portfolio duration will generally range from 1 year to 10 years and has the flexibility to reduce portfolio duration if it believes that duration risk poses a significant threat to capital appreciation. The Portfolio’s weighted average portfolio duration may also exceed this range meaningfully at times.Duration is a commonly used measure of risk in debt instruments as it incorporates multiple features of debt instruments (e.g., yield, coupon, maturity, etc.) into one number. Duration is a measure of sensitivity of the price of a debt instrument to a change in interest rates. Duration is a weighted average of the times that interest payments and the final return of principal are received. The weights are the amounts of the payments discounted by the yield-to-maturity of the debt instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest rate risk or reward for the debtinstrument prices. For example, the price of a bond with an average duration of 5 years would be expected to fall approximately 5% if market interest rates rose by 1%. Conversely, the price of a bond with an average duration of 5 years would be expected to rise approximately 5% if market interest rates dropped by 1%.The Portfolio may invest in other investment companies, including exchange-traded funds (“ETFs”), to the extent permitted under the Investment Company Act of 1940, as amended, and the rules and regulations thereunder, and under the terms of applicable no-action relief or exemptive orders granted thereunder.The Sub-Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising.The Portfolio may lend portfolio securities on a short-term or long-term basis, up to 33 1∕3% of its total assets.
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VGSBX - Performance
Return Ranking - Trailing
| Period | VGSBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.8% | -6.4% | 10.8% | 86.76% |
| 1 Yr | 6.9% | -2.1% | 16.4% | 41.48% |
| 3 Yr | -2.0%* | -10.0% | 27.5% | 38.00% |
| 5 Yr | 2.3%* | -7.5% | 58.4% | 3.31% |
| 10 Yr | N/A* | -2.9% | 73.8% | N/A |
* Annualized
Return Ranking - Calendar
| Period | VGSBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.3% | -16.2% | 8.1% | 7.51% |
| 2022 | -17.2% | -34.7% | 131.9% | 80.42% |
| 2021 | -6.7% | -11.6% | 4.4% | 97.80% |
| 2020 | 14.5% | -10.1% | 946.1% | 2.39% |
| 2019 | 7.9% | -1.7% | 16.9% | 2.49% |
Total Return Ranking - Trailing
| Period | VGSBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.8% | -6.4% | 10.8% | 86.76% |
| 1 Yr | 6.9% | -2.1% | 16.4% | 41.48% |
| 3 Yr | -2.0%* | -10.0% | 27.5% | 38.00% |
| 5 Yr | 2.3%* | -7.5% | 58.4% | 3.31% |
| 10 Yr | N/A* | -2.9% | 73.8% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | VGSBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.6% | -11.3% | 11.9% | 65.12% |
| 2022 | -11.9% | -32.2% | 131.9% | 10.84% |
| 2021 | 1.2% | -9.4% | 9.2% | 8.03% |
| 2020 | 17.5% | -1.9% | 1009.0% | 4.10% |
| 2019 | 10.0% | 1.1% | 21668.0% | 19.57% |
NAV & Total Return History
VGSBX - Holdings
Concentration Analysis
| VGSBX | Category Low | Category High | VGSBX % Rank | |
|---|---|---|---|---|
| Net Assets | 211 M | 2.9 M | 314 B | 80.31% |
| Number of Holdings | 31 | 1 | 17787 | 97.43% |
| Net Assets in Top 10 | 182 M | 1.62 M | 35.1 B | 64.65% |
| Weighting of Top 10 | 81.82% | 4.4% | 432.9% | 3.61% |
Top 10 Holdings
- United States Treasury Note/Bond 29.17%
- United States Treasury Note/Bond 13.61%
- Federal Home Loan Banks 9.91%
- United States Treasury Floating Rate Note 6.91%
- Federal Home Loan Mortgage Corp 6.06%
- Federal National Mortgage Association 5.36%
- Ginnie Mae II Pool 2.84%
- Ginnie Mae II Pool 2.74%
- Ginnie Mae II Pool 2.71%
- Ginnie Mae II Pool 2.51%
Asset Allocation
| Weighting | Return Low | Return High | VGSBX % Rank | |
|---|---|---|---|---|
| Bonds | 97.05% | 0.00% | 993.61% | 46.15% |
| Convertible Bonds | 5.42% | 0.00% | 7.93% | 1.24% |
| Cash | 2.88% | -54.51% | 237.69% | 41.21% |
| Other | 0.07% | -27.25% | 52.94% | 72.46% |
| Stocks | 0.00% | 0.00% | 99.99% | 57.95% |
| Preferred Stocks | 0.00% | 0.00% | 71.02% | 52.11% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | VGSBX % Rank | |
|---|---|---|---|---|
| Government | 74.76% | 0.00% | 86.23% | 0.62% |
| Corporate | 18.48% | 0.00% | 100.00% | 87.27% |
| Securitized | 5.08% | 0.00% | 98.40% | 95.86% |
| Cash & Equivalents | 2.34% | -0.46% | 237.69% | 48.92% |
| Derivative | 0.07% | -1.58% | 44.82% | 9.56% |
| Municipal | 0.00% | 0.00% | 100.00% | 82.09% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | VGSBX % Rank | |
|---|---|---|---|---|
| US | 97.05% | 0.00% | 993.61% | 43.68% |
| Non US | 0.00% | 0.00% | 30.95% | 57.35% |
VGSBX - Expenses
Operational Fees
| VGSBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.55% | 0.01% | 39.64% | 65.46% |
| Management Fee | 0.50% | 0.00% | 1.76% | 89.51% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.50% | 51.48% |
Sales Fees
| VGSBX 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% | 4.00% | N/A |
Trading Fees
| VGSBX 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.
| VGSBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 57.00% | 2.00% | 493.39% | 21.82% |
VGSBX - Distributions
Dividend Yield Analysis
| VGSBX | Category Low | Category High | VGSBX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.55% | 0.00% | 10.11% | 95.79% |
Dividend Distribution Analysis
| VGSBX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Monthly | Monthly |
Net Income Ratio Analysis
| VGSBX | Category Low | Category High | VGSBX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.84% | -1.28% | 4.79% | 91.87% |
Capital Gain Distribution Analysis
| VGSBX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jul 15, 2024 | $0.422 | OrdinaryDividend |
| Jul 13, 2023 | $0.209 | OrdinaryDividend |
| Jul 13, 2022 | $0.106 | OrdinaryDividend |
| Jul 13, 2022 | $0.338 | CapitalGainShortTerm |
| Jul 13, 2022 | $0.193 | CapitalGainLongTerm |
| Jul 13, 2021 | $0.191 | OrdinaryDividend |
| Jul 13, 2021 | $0.654 | CapitalGainShortTerm |
| Jul 13, 2021 | $0.107 | CapitalGainLongTerm |
| Jul 13, 2020 | $0.214 | OrdinaryDividend |
| Jul 13, 2020 | $0.085 | CapitalGainShortTerm |
| Jul 12, 2019 | $0.198 | OrdinaryDividend |
| Jul 13, 2018 | $0.223 | OrdinaryDividend |
| Jul 14, 2017 | $0.234 | OrdinaryDividend |
| Jul 14, 2016 | $0.235 | OrdinaryDividend |
VGSBX - Fund Manager Analysis
Managers
David Hoffman
Start Date
Tenure
Tenure Rank
Aug 09, 2019
2.81
2.8%
David is co-lead portfolio manager for the Firm's Global Fixed Income and related strategies. He joined the Firm in 1995. Previously, David was president of Hoffman Capital, a global financial futures investment firm (1991-1995); head of fixed income investments at Columbus Circle Investors (1983-1990); senior vice president and portfolio manager at INA Capital Management (1979-1982), and fixed income portfolio manager at Provident National Bank (1975-1979).
Anujeet Sareen
Start Date
Tenure
Tenure Rank
Aug 09, 2019
2.81
2.8%
Anujeet Sareen is a portfolio manager for the Firm’s Global Fixed Income and related strategies. Prior to joining the Firm in 2016, Anujeet was a managing director of global fixed income and a global macro strategist, as well as chair of the Currency Strategy Group at Wellington Management in Boston. Over his 22-year career at Wellington (1994-2016), he held a variety of roles while cultivating extensive fixed income and currency management experience. Anujeet is a CFA® charterholder and earned a B.A. in Computer Science from Brown University.
Jack McIntyre
Start Date
Tenure
Tenure Rank
Aug 09, 2019
2.81
2.8%
John(Jack) P. McIntyre, CFA is Associate Portfolio Manager/Senior Research Analyst and is responsible for research and market insight. Mr. McIntyre has been employed at Brandywine Global since 1998. Previously, he held positions as market strategist with McCarthy, Crisanti & Maffei, Inc. (1995-1998); senior fixed income analyst with Technical Data (1992-1995); quantitative associate with Brown Brothers Harriman & Co. (1990), and investment analyst with the Public Employee Retirement Administration of Massachusetts (1987-1989).
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.77 | 1.16 |