XAI Octagon Floating Rate & Alternative Income Term Trust
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-2.3%
1 yr return
3.2%
3 Yr Avg Return
-7.1%
5 Yr Avg Return
-3.0%
Net Assets
$226 M
Holdings in Top 10
23.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 5.28%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 34.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
XFLTX - Profile
Distributions
- YTD Total Return -2.3%
- 3 Yr Annualized Total Return -7.1%
- 5 Yr Annualized Total Return -3.0%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 9.82%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameXAI Octagon Floating Rate & Alternative Income Term Trust
-
Fund Family NameXAI Octagon FR & Alt Income Term Trust
-
Inception DateSep 26, 2017
-
Shares Outstanding32310149
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerMichael Nechamkin
Fund Description
XFLTX - Performance
Return Ranking - Trailing
Period | XFLTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.3% | -3.5% | 10.0% | 99.25% |
1 Yr | 3.2% | -3.4% | 14.8% | 95.51% |
3 Yr | -7.1%* | -7.1% | 8.3% | 100.00% |
5 Yr | -3.0%* | -6.4% | 38.1% | 97.90% |
10 Yr | N/A* | -2.2% | 19.6% | N/A |
* Annualized
Return Ranking - Calendar
Period | XFLTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 9.7% | -12.0% | 11.1% | 1.87% |
2022 | -22.9% | -22.9% | 5.1% | 100.00% |
2021 | 11.1% | -12.2% | 11.1% | 0.39% |
2020 | -6.6% | -14.1% | 289.8% | 91.80% |
2019 | -8.1% | -8.1% | 7.5% | 100.00% |
Total Return Ranking - Trailing
Period | XFLTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.3% | -3.5% | 10.0% | 99.25% |
1 Yr | 3.2% | -3.4% | 14.8% | 95.51% |
3 Yr | -7.1%* | -7.1% | 8.3% | 100.00% |
5 Yr | -3.0%* | -6.4% | 38.1% | 97.90% |
10 Yr | N/A* | -2.2% | 19.6% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | XFLTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 9.7% | -12.0% | 22.1% | 89.51% |
2022 | -22.9% | -22.9% | 5.1% | 100.00% |
2021 | 11.1% | -10.2% | 11.1% | 0.39% |
2020 | -6.6% | -14.1% | 306.9% | 97.54% |
2019 | -3.6% | -3.6% | 10.5% | 100.00% |
NAV & Total Return History
XFLTX - Holdings
Concentration Analysis
XFLTX | Category Low | Category High | XFLTX % Rank | |
---|---|---|---|---|
Net Assets | 226 M | 29.9 M | 13.5 B | 75.48% |
Number of Holdings | 451 | 2 | 1977 | 26.25% |
Net Assets in Top 10 | 59.3 M | -191 M | 2.37 B | 66.02% |
Weighting of Top 10 | 23.02% | 5.2% | 100.7% | 17.05% |
Top 10 Holdings
- Invesco Shrt-Trm Inv Treasury Instl 3.52%
- CARLYLE US CLO 2019-4 LTD 0% 2.98%
- ROCKLAND PARK LTD 0% 2.63%
- Playtika Holding Corp. 2.50%
- Playtika Holding Corp. 2.50%
- Playtika Holding Corp. 2.50%
- Playtika Holding Corp. 2.50%
- Playtika Holding Corp. 2.50%
- Playtika Holding Corp. 2.50%
- Playtika Holding Corp. 2.50%
Asset Allocation
Weighting | Return Low | Return High | XFLTX % Rank | |
---|---|---|---|---|
Bonds | 161.82% | 0.00% | 161.82% | 0.39% |
Stocks | 0.08% | 0.00% | 100.74% | 86.10% |
Preferred Stocks | 0.00% | -3.99% | 7.30% | 96.14% |
Other | 0.00% | -52.39% | 34.87% | 90.35% |
Convertible Bonds | 0.00% | 0.00% | 5.51% | 94.16% |
Cash | -61.90% | -61.90% | 16.36% | 100.00% |
Stock Sector Breakdown
Weighting | Return Low | Return High | XFLTX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | 88.28% |
Technology | 0.00% | 0.00% | 100.00% | 85.16% |
Real Estate | 0.00% | 0.00% | 48.61% | 82.42% |
Industrials | 0.00% | 0.00% | 100.00% | 1.56% |
Healthcare | 0.00% | 0.00% | 100.00% | 81.64% |
Financial Services | 0.00% | 0.00% | 89.61% | 83.59% |
Energy | 0.00% | 0.00% | 100.00% | 91.80% |
Communication Services | 0.00% | 0.00% | 100.00% | 94.14% |
Consumer Defense | 0.00% | 0.00% | 100.00% | 85.16% |
Consumer Cyclical | 0.00% | 0.00% | 97.66% | 91.02% |
Basic Materials | 0.00% | 0.00% | 1.36% | 84.77% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | XFLTX % Rank | |
---|---|---|---|---|
US | 0.08% | -0.01% | 100.74% | 84.17% |
Non US | 0.00% | 0.00% | 0.68% | 96.91% |
Bond Sector Breakdown
Weighting | Return Low | Return High | XFLTX % Rank | |
---|---|---|---|---|
Securitized | 48.91% | 0.00% | 91.68% | 1.17% |
Corporate | 48.70% | 0.00% | 99.80% | 98.05% |
Cash & Equivalents | 2.39% | 0.00% | 25.03% | 48.26% |
Derivative | 0.00% | -10.96% | 0.59% | 88.42% |
Municipal | 0.00% | 0.00% | 0.47% | 93.00% |
Government | 0.00% | 0.00% | 3.18% | 93.39% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | XFLTX % Rank | |
---|---|---|---|---|
US | 98.59% | 0.00% | 123.41% | 18.15% |
Non US | 63.23% | 0.00% | 63.23% | 0.39% |
XFLTX - Expenses
Operational Fees
XFLTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 5.28% | 0.03% | 5.51% | 0.75% |
Management Fee | 1.70% | 0.00% | 1.89% | 98.50% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.02% | 0.27% | N/A |
Sales Fees
XFLTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
XFLTX 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.
XFLTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 34.00% | 4.00% | 180.00% | 18.03% |
XFLTX - Distributions
Dividend Yield Analysis
XFLTX | Category Low | Category High | XFLTX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 11.13% | 99.25% |
Dividend Distribution Analysis
XFLTX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
XFLTX | Category Low | Category High | XFLTX % Rank | |
---|---|---|---|---|
Net Income Ratio | 9.82% | 1.77% | 9.82% | 0.39% |
Capital Gain Distribution Analysis
XFLTX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Jun 14, 2019 | $0.073 | OrdinaryDividend |
May 14, 2019 | $0.073 | OrdinaryDividend |
Apr 15, 2019 | $0.069 | OrdinaryDividend |
Mar 14, 2019 | $0.069 | OrdinaryDividend |
Feb 14, 2019 | $0.069 | OrdinaryDividend |
Jan 14, 2019 | $0.069 | OrdinaryDividend |
Dec 13, 2018 | $0.069 | OrdinaryDividend |
Nov 14, 2018 | $0.069 | OrdinaryDividend |
Oct 12, 2018 | $0.069 | OrdinaryDividend |
Sep 14, 2018 | $0.069 | OrdinaryDividend |
Aug 14, 2018 | $0.069 | OrdinaryDividend |
Jul 13, 2018 | $0.069 | OrdinaryDividend |
Jun 14, 2018 | $0.069 | OrdinaryDividend |
May 14, 2018 | $0.069 | OrdinaryDividend |
Apr 13, 2018 | $0.069 | OrdinaryDividend |
Mar 14, 2018 | $0.069 | OrdinaryDividend |
Feb 14, 2018 | $0.069 | OrdinaryDividend |
Jan 12, 2018 | $0.069 | OrdinaryDividend |
Dec 14, 2017 | $0.069 | OrdinaryDividend |
Nov 14, 2017 | $0.069 | OrdinaryDividend |
XFLTX - Fund Manager Analysis
Managers
Michael Nechamkin
Start Date
Tenure
Tenure Rank
Sep 27, 2017
4.68
4.7%
Mr. Nechamkin is a member of Octagon’s Investment Committee and the Firm’s Chief Investment Officer. He serves as a Portfolio Manager across CLOs, Separately Managed Accounts and Commingled Funds. Prior to joining Octagon as Portfolio Manager in 1999, Mr. Nechamkin was a Vice President in the High Yield Research Group at Bankers Trust. Prior to that, he served as a Convertible Securities Analyst at Mabon Securities and a Financial Consultant at Merrill Lynch. He earned a Bachelor and a Master of Talmudic Law, and holds an M.B.A. from the University of Baltimore.
Gretchen Lam
Start Date
Tenure
Tenure Rank
Sep 27, 2017
4.68
4.7%
Ms. Lam is a member of Octagon’s Investment Committee and serves as a Portfolio Manager across CLOs, Separately Managed Accounts and Commingled Funds. Ms. Lam oversees the Firm’s Structured Credit (CLO debt & equity) investment strategies. Ms. Lam is also the Co-Chair of Octagon & Conning’s Global DEI (diversity, equity & inclusion) Council and a member of the Firm’s ESG (environmental, social, and corporate governance) Committee. Prior to becoming a Portfolio Manager, Ms. Lam oversaw Octagon's investments in the software, business services, finance & insurance, paper & packaging, gaming & lodging, homebuilding and real estate industries. She was also responsible for the structured credit exposure held in Octagon’s CLO vehicles. Prior to joining Octagon in 1999, Ms. Lam attended Babson College where she graduated Summa Cum Laude with a B.S. in Investments. She received her CFA Charter in 2006.
Andrew Gordon
Start Date
Tenure
Tenure Rank
Nov 06, 2017
4.57
4.6%
Mr. Gordon is a member of Octagon’s Investment Committee and serves as the Firm’s Chief Executive Officer. He co-founded Octagon in 1994 and subsequently managed numerous Octagon funds before assuming his current position. He possesses over 30 years of experience in the below-investment grade leveraged loan and high yield bond asset classes, in both sell-side and buy-side capacities. Mr. Gordon is also a member of the Firm’s ESG (environmental, social, and corporate governance) Committee. Prior to co-founding Octagon, Mr. Gordon was a Managing Director at Chemical Securities, Inc., where he focused primarily on the oil and gas industries. Mr. Gordon advised on and arranged below-investment grade loans for corporate clients, while also undertaking special projects in M&A advisory and distressed credit situations. Prior to Chemical, Mr. Gordon served as Vice President in the Acquisition Finance Division of Manufacturers Hanover Trust Company. In this capacity, he structured, syndicated and managed leveraged buyout transactions. From 2010 to 2015, Mr. Gordon served on the Board of Directors of the Loan Syndications and Trading Association, Inc. ("LSTA") and on the LSTA's Executive Committee. He graduated Cum Laude with an A.B. in Economics from Duke University. Mr. Gordon holds FINRA Series 7 & 63 Registrations.
Lauren Law
Start Date
Tenure
Tenure Rank
Mar 23, 2022
0.19
0.2%
Ms. Law is a member of Octagon’s Investment Committee and serves as a Portfolio Manager across CLOs, Separately Managed Accounts and Commingled Funds. Ms. Law joined Octagon in 2004. In addition, she helps oversee the Firm’s Structured Credit (CLO debt and equity) investment strategies. Prior to becoming a Portfolio Manager, Ms. Law was an Investment Team Principal whose coverage areas included healthcare, industrials, financials, business services, and the Firm’s CLO debt and equity investments. She holds a Bachelor of Science from Babson College, where she graduated Magna Cum Laude. She received her CFA Charter in 2009.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 21.18 | 6.07 | 3.25 |