XFLTX: XAI Octagon Floating Rate & Alternative Income Term Trust - MutualFunds.com

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XAI Octagon FR & Alt Income Term Trust

XFLTX - Snapshot

Vitals

  • YTD Return -9.7%
  • 3 Yr Annualized Return -0.9%
  • 5 Yr Annualized Return N/A
  • Net Assets $88.9 M
  • Holdings in Top 10 30.3%

52 WEEK LOW AND HIGH

$7.07
$4.49
$8.03

Expenses

OPERATING RELATED FEES

  • Expense Ratio 6.16%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 94.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) N/A
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Closed-end mutual fund
  • Investment Style High Yield Bond

Compare XFLTX to Popular High Yield Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$5.91

0.00%

$27.58 B

4.80%

$0.28

-0.84%

0.23%

$7.65

0.00%

$25.49 B

5.30%

$0.41

-1.54%

0.60%

$85.92

-0.19%

$23.82 B

4.90%

$4.22

-2.30%

0.49%

$5.43

0.00%

$20.11 B

5.82%

$0.32

-2.69%

0.79%

$9.92

+0.10%

$16.76 B

5.73%

$0.57

-1.59%

0.72%

XFLTX - Profile

Distributions

  • YTD Total Return -9.7%
  • 3 Yr Annualized Total Return -0.9%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 10.03%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    XAI Octagon Floating Rate & Alternative Income Term Trust
  • Fund Family Name
    XAI Octagon FR & Alt Income Term Trust
  • Inception Date
    Sep 27, 2017
  • Shares Outstanding
    12760158
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Michael Nechamkin

Fund Description

N/A


XFLTX - Performance

Return Ranking - Trailing

Period XFLTX Return Category Return Low Category Return High Rank in Category (%)
YTD -9.7% -50.1% 385.8% 98.04%
1 Yr 0.9% -54.3% 9.9% 68.42%
3 Yr -0.9%* -21.8% 8.3% 97.97%
5 Yr N/A* -0.9% 9.0% N/A
10 Yr N/A* 0.7% 9.2% N/A

* Annualized

Return Ranking - Calendar

Period XFLTX Return Category Return Low Category Return High Rank in Category (%)
2019 -8.1% -10.3% 226.1% 99.86%
2018 -12.2% -18.4% -0.2% 97.41%
2017 N/A -9.5% 18.8% N/A
2016 N/A -9.1% 28.6% N/A
2015 N/A -34.3% 3.5% N/A

Total Return Ranking - Trailing

Period XFLTX Return Category Return Low Category Return High Rank in Category (%)
YTD -9.7% -50.1% 385.8% 98.04%
1 Yr 0.9% -54.3% 9.9% 53.47%
3 Yr -0.9%* -21.8% 8.3% 97.68%
5 Yr N/A* -1.1% 9.0% N/A
10 Yr N/A* 0.7% 9.2% N/A

* Annualized

Total Return Ranking - Calendar

Period XFLTX Return Category Return Low Category Return High Rank in Category (%)
2019 -8.1% -8.1% 23.9% 100.00%
2018 -12.2% -18.4% 1.3% 97.41%
2017 N/A -8.5% 18.8% N/A
2016 N/A -9.1% 39.0% N/A
2015 N/A -32.4% 3.5% N/A

NAV & Total Return History


XFLTX - Holdings

Concentration Analysis

XFLTX Category Low Category High XFLTX % Rank
Net Assets 88.9 M 3.33 M 27.6 B 81.31%
Number of Holdings 202 1 2037 74.90%
Net Assets in Top 10 25.8 M -492 M 2.87 B 66.49%
Weighting of Top 10 30.33% 3.4% 100.0% 8.83%

Top 10 Holdings

  1. MADISON PARK FDG 2019-37 0% 5.00%
  2. BATTALION CLO XV 2020-15 0% 4.16%
  3. ANCHORAGE CAPITAL CLO 1-R LTD / LLC 0% 3.31%
  4. CARLYLE US CLO 2019-4 0% 3.05%
  5. Invesco Shrt-Trm Inv Treasury Instl 3.04%
  6. Playtika Holding Corp. 2.50%
  7. Playtika Holding Corp. 2.50%
  8. Playtika Holding Corp. 2.50%
  9. Playtika Holding Corp. 2.50%
  10. Playtika Holding Corp. 2.50%

Asset Allocation

Weighting Return Low Return High XFLTX % Rank
Bonds
140.54% 0.00% 140.54% 0.14%
Stocks
0.12% -28.46% 28.23% 52.65%
Preferred Stocks
0.00% 0.00% 7.97% 84.94%
Other
0.00% -2.78% 58.14% 85.35%
Convertible Bonds
0.00% 0.00% 19.96% 92.54%
Cash
-40.67% -40.67% 100.00% 100.00%

Stock Sector Breakdown

Weighting Return Low Return High XFLTX % Rank
Industrials
100.00% 0.00% 100.00% 0.67%
Utilities
0.00% 0.00% 99.51% 83.00%
Technology
0.00% 0.00% 46.47% 83.67%
Real Estate
0.00% 0.00% 100.00% 84.12%
Healthcare
0.00% 0.00% 100.00% 86.35%
Financial Services
0.00% 0.00% 100.00% 82.55%
Energy
0.00% 0.00% 100.00% 91.95%
Communication Services
0.00% 0.00% 100.00% 88.14%
Consumer Defense
0.00% 0.00% 52.26% 82.55%
Consumer Cyclical
0.00% 0.00% 100.00% 89.93%
Basic Materials
0.00% 0.00% 100.00% 86.35%

Stock Geographic Breakdown

Weighting Return Low Return High XFLTX % Rank
US
0.12% -28.07% 19.67% 49.93%
Non US
0.00% -0.39% 13.32% 82.09%

Bond Sector Breakdown

Weighting Return Low Return High XFLTX % Rank
Securitized
50.11% 0.00% 95.38% 0.68%
Corporate
46.85% 0.00% 100.00% 96.06%
Cash & Equivalents
3.04% 0.00% 100.00% 61.14%
Derivative
0.00% 0.00% 51.02% 79.48%
Municipal
0.00% 0.00% 16.25% 77.17%
Government
0.00% 0.00% 74.11% 85.19%

Bond Geographic Breakdown

Weighting Return Low Return High XFLTX % Rank
Non US
94.41% -27.40% 96.73% 0.27%
US
46.13% 0.00% 127.79% 95.52%

XFLTX - Expenses

Operational Fees

XFLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 6.16% 0.04% 20.17% 0.42%
Management Fee N/A 0.00% 1.84% N/A
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

XFLTX 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% 5.50% 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 94.00% 1.00% 349.00% 86.80%

XFLTX - Distributions

Dividend Yield Analysis

XFLTX Category Low Category High XFLTX % Rank
Dividend Yield 0.00% 0.00% 6.34% 80.14%

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 10.03% -0.81% 10.03% 0.14%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

XFLTX - Fund Manager Analysis

Managers

Michael Nechamkin


Start Date

Tenure

Tenure Rank

Sep 27, 2017

3.1

3.1%

Mr. Nechamkin is a member of Octagon’s Investment Committee and serves as the Senior Portfolio Manager of 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 holds a Bachelor’s degree and a Masters of Talmudic Law, and an M.B.A. from the University of Baltimore.

Lauren Basmadjian


Start Date

Tenure

Tenure Rank

Sep 27, 2017

3.1

3.1%

Ms. Basmadjian joined Octagon in 2001. She is a member of Octagon’s Investment Committee and serves as the Portfolio Manager of CLOs, Separately Managed Accounts, and Private Commingled Funds. Prior to becoming a Portfolio Manager, Ms. Basmadjian managed Octagon’s workout efforts and also oversaw the leisure & entertainment, retail, consumer products, business services, food & beverage and technology industries. Prior to joining Octagon, Ms. Basmadjian worked in the Acquisition Finance Group at Chase Securities, Inc. She graduated Cum Laude from the Stern School of Business at New York University with a B.S. in Finance and Economics.

Gretchen Lam


Start Date

Tenure

Tenure Rank

Sep 27, 2017

3.1

3.1%

Ms. Lam is a member of Octagon’s Investment Committee and serves as the Portfolio Manager of CLOs, Separately Managed Accounts, and Commingled Funds. Ms. Lam serves as the PM for the Firm’s Structured Credit (CLO Debt & Equity) Investment Strategies. 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

2.99

3.0%

Mr. Gordon 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. 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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 36.21 6.49 1.34