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Name

As of 05/06/2024

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

High Yield Bond Fund

VHYLX | Fund

$6.86

$423 M

5.93%

$0.41

0.75%

Vitals

YTD Return

0.9%

1 yr return

9.6%

3 Yr Avg Return

1.5%

5 Yr Avg Return

1.4%

Net Assets

$423 M

Holdings in Top 10

16.2%

52 WEEK LOW AND HIGH

$6.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.75%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 33.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 05/06/2024

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

High Yield Bond Fund

VHYLX | Fund

$6.86

$423 M

5.93%

$0.41

0.75%

VHYLX - Profile

Distributions

  • YTD Total Return 0.9%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.26%
DIVIDENDS
  • Dividend Yield 5.9%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    High Yield Bond Fund
  • Fund Family Name
    VALIC Company
  • Inception Date
    Sep 01, 2006
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Christopher Jones

Fund Description

At least 80% of the Fund’s net assets are invested, under normal circumstances, in high-yield, below-investment grade fixed-income securities (often referred to as “junk bonds”). These securities are rated below Baa3 by Moody’s Investor Services, Inc.(“Moody’s”) or BBB– by S&P Global Ratings (“S&P”) or determined to be of comparable quality by the subadviser. Up to 15% of the Fund’s net assets can be rated below Caa3 by Moody’s or CCC– by S&P or its equivalent rating by another Nationally Recognized Statistical Ratings Organization. The Fund may also invest up to 35% of its net assets in below-investment grade foreign fixed-income securities.The Fund may also invest up to 20% of its net assets in investment grade fixed-income securities, those rated Baa3 or higher by Moody’s and BBB– or higher by S&P. Although the Fund does not routinely invest in equity securities, it may invest in equity securities from time-to-time up to 20% of the Fund’s net assets.The subadviser analyzes macroeconomic trends to develop an overall picture of a country, market, or market segment and combines that analysis with research on individual securities to achieve the Fund’s objective.In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities.Investors will be given at least 60 days’ written notice in advance of any change to the Fund’s 80% investment policy set forth above.
Read More

VHYLX - Performance

Return Ranking - Trailing

Period VHYLX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -6.6% 5.6% 85.94%
1 Yr 9.6% -6.5% 17.6% 51.50%
3 Yr 1.5%* -16.8% 20.2% 43.99%
5 Yr 1.4%* -12.0% 36.9% 93.72%
10 Yr 0.6%* -5.0% 19.5% 96.27%

* Annualized

Return Ranking - Calendar

Period VHYLX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% -4.7% 14.3% 31.91%
2022 -13.6% -33.4% 3.6% 21.85%
2021 0.3% -8.4% 8.2% 40.70%
2020 -0.9% -13.2% 302.7% 64.90%
2019 9.8% -4.4% 13.3% 8.26%

Total Return Ranking - Trailing

Period VHYLX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% -6.6% 5.6% 85.94%
1 Yr 9.6% -6.5% 17.6% 51.50%
3 Yr 1.5%* -16.8% 20.2% 43.99%
5 Yr 1.4%* -12.0% 36.9% 93.72%
10 Yr 0.6%* -5.0% 19.5% 96.27%

* Annualized

Total Return Ranking - Calendar

Period VHYLX Return Category Return Low Category Return High Rank in Category (%)
2023 13.1% -4.7% 17.8% 22.12%
2022 -10.7% -33.4% 47.8% 48.96%
2021 4.3% -8.4% 12.4% 66.61%
2020 -0.9% -9.6% 325.6% 95.38%
2019 9.8% 0.9% 19.4% 86.64%

NAV & Total Return History

VHYLX - Holdings

Concentration Analysis

VHYLX Category Low Category High VHYLX % Rank
Net Assets 423 M 1.45 M 23.6 B 58.45%
Number of Holdings 284 2 2736 62.54%
Net Assets in Top 10 68.5 M -492 M 4.55 B 53.49%
Weighting of Top 10 16.19% 4.2% 146.9% 33.49%

Top 10 Holdings

  1. FIXED INC CLEARING CORP.REPO 4.40%
  2. State Street Navigator Securities Lending Government Money Market Portfolio 3.95%
  3. Medline Borrower LP 1.08%
  4. Enerflex Ltd 1.04%
  5. LBM Acquisition LLC 1.03%
  6. UKG Inc 0.99%
  7. McAfee Corp 0.99%
  8. CSC Holdings LLC 0.94%
  9. Weatherford International Ltd 0.90%
  10. CCO Holdings LLC / CCO Holdings Capital Corp 0.88%

Asset Allocation

Weighting Return Low Return High VHYLX % Rank
Bonds 		94.31% -3.13% 154.38% 56.40%
Other 		4.41% -63.70% 102.57% 6.35%
Cash 		3.95% -52.00% 48.07% 46.03%
Convertible Bonds 		2.07% 0.00% 17.89% 22.86%
Stocks 		0.00% 0.00% 99.54% 94.00%
Preferred Stocks 		0.00% 0.00% 7.88% 90.00%

Bond Sector Breakdown

Weighting Return Low Return High VHYLX % Rank
Corporate 		96.74% 0.00% 100.00% 31.90%
Cash & Equivalents 		3.95% 0.00% 48.07% 38.25%
Derivative 		0.02% -15.04% 42.26% 24.76%
Securitized 		0.00% 0.00% 97.24% 92.54%
Municipal 		0.00% 0.00% 1.17% 86.51%
Government 		0.00% 0.00% 99.07% 90.00%

Bond Geographic Breakdown

Weighting Return Low Return High VHYLX % Rank
US 		91.06% -3.13% 129.21% 66.35%
Non US 		3.25% 0.00% 98.19% 23.02%

VHYLX - Expenses

Operational Fees

VHYLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.75% 0.02% 38.33% 71.47%
Management Fee 0.62% 0.00% 1.84% 71.36%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.06% 0.00% 0.50% 26.18%

Sales Fees

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

Trading Fees

VHYLX 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.

VHYLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 33.00% 1.00% 255.00% 9.17%

VHYLX - Distributions

Dividend Yield Analysis

VHYLX Category Low Category High VHYLX % Rank
Dividend Yield 5.93% 0.00% 11.65% 56.78%

Dividend Distribution Analysis

VHYLX Category Low Category High Category Mod
Dividend Distribution Frequency Annual SemiAnnual Monthly Monthly

Net Income Ratio Analysis

VHYLX Category Low Category High VHYLX % Rank
Net Income Ratio 4.26% -2.39% 14.30% 56.87%

Capital Gain Distribution Analysis

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

Distributions History

View More +

VHYLX - Fund Manager Analysis

Managers

Christopher Jones

Start Date

Tenure

Tenure Rank

Jul 24, 2009

12.86

12.9%

Chris is a fixed income portfolio manager and chair of the High Yield Strategy Group. He focuses on the firm’s Core High Yield, European High Yield, Global High Yield, and total return oriented strategies. He began his career at Wellington Management in 1994 as a research analyst in Fixed Income Research, specializing in the quantitative and qualitative review of high-yield bonds. Prior to joining the firm, Chris did research for Foothill Group, an investment management company specializing in distressed debt, and he worked at La Jolla-based Multiple Peptide Systems where he marketed custom molecules to research institutions and other end users (1989 – 1992). Chris earned his MBA in finance from the University of California, Los Angeles (1994) and his BA, cum laude, from the University of California, San Diego (1988). He also holds the Chartered Financial Analyst designation.

Michael Barry

Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

Michael V. Barry, Senior Managing Director and Fixed Income Portfolio Manager of Wellington Management, has been involved in portfolio management for the Fund since 2021 and has been involved in securities analysis for the Fund since 2012. Mr. Barry joined Wellington Management as an investment professional in 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.21 8.17

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