Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.7%
1 yr return
17.5%
3 Yr Avg Return
2.0%
5 Yr Avg Return
4.7%
Net Assets
$15 M
Holdings in Top 10
45.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.36%
SALES FEES
Front Load 4.75%
Deferred Load N/A
TRADING FEES
Turnover 51.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
HIIFX - Profile
Distributions
- YTD Total Return 1.7%
- 3 Yr Annualized Total Return 2.0%
- 5 Yr Annualized Total Return 4.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.27%
- Dividend Yield 5.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameCatalyst/SMH High Income Fund
-
Fund Family NameMutual Fund Series Trust
-
Inception DateMay 22, 2008
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDwayne Moyers
Fund Description
The Fund invests in a non-diversified group of low-quality, high yield corporate bonds and convertible securities. The Fund may invest without limitation in non-investment grade corporate bonds rated Baa or lower by Moody’s or BBB or lower by S&P (also known as “junk” bonds). The Fund may also invest in corporate issues that have defaulted. Because of their low credit quality, these securities typically pay higher interest rates to compensate investors for the substantial credit risk they assume. While there are no restrictions on maturity, the bonds in the Fund’s portfolio generally have an average maturity of less than ten years. The Fund seeks capital appreciation from selling securities above the purchase price. Bonds may appreciate in value through an improvement in credit quality, among other reasons.
To select the securities in which to invest, SMH Capital Advisors, LLC, the Fund’s sub-advisor (“Sub-Advisor”), conducts fundamental credit research on each issuer. Securities may be sold when the Sub-Advisor believes that they no longer represent relatively attractive investment opportunities.
The Fund invests primarily in, and chooses its investments from, the following types of securities:
● | Corporate debt. Debt obligations (usually called bonds) are loans by an investor to a corporation. They usually have a set interest rate and term. |
● | Preferred stocks. Preferred stock is corporate stock that pays set dividends to its holders. Preferred stock has a superior claim on the issuer’s income and assets relative to common stock but a lower claim on assets than corporate bondholders. |
● | Convertible securities. Bonds or preferred stocks which are convertible into, or exchangeable for, common stocks. |
The Fund is classified as “non-diversified” for purposes of the Investment Company Act of 1940 (the “1940 Act”), which means that it is not limited by the 1940 Act with regard to the portion of its assets that may be invested in the securities of a single issuer.
HIIFX - Performance
Return Ranking - Trailing
Period | HIIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.7% | -4.9% | 8.2% | 20.28% |
1 Yr | 17.5% | -4.3% | 26.0% | 0.63% |
3 Yr | 2.0%* | -15.6% | 20.6% | 38.56% |
5 Yr | 4.7%* | -11.2% | 37.3% | 13.47% |
10 Yr | 1.8%* | -4.7% | 19.5% | 89.65% |
* Annualized
Return Ranking - Calendar
Period | HIIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.7% | -4.7% | 14.3% | 2.02% |
2022 | -18.7% | -33.4% | 3.6% | 89.50% |
2021 | 3.8% | -8.4% | 14.9% | 3.26% |
2020 | 4.2% | -13.9% | 302.7% | 6.39% |
2019 | 2.7% | -4.4% | 13.3% | 95.86% |
Total Return Ranking - Trailing
Period | HIIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.7% | -4.9% | 8.2% | 20.28% |
1 Yr | 17.5% | -4.3% | 26.0% | 0.63% |
3 Yr | 2.0%* | -15.6% | 20.6% | 38.56% |
5 Yr | 4.7%* | -11.2% | 37.3% | 13.47% |
10 Yr | 1.8%* | -4.7% | 19.5% | 89.65% |
* Annualized
Total Return Ranking - Calendar
Period | HIIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 16.4% | -4.7% | 18.7% | 2.48% |
2022 | -13.5% | -33.4% | 47.8% | 88.71% |
2021 | 7.4% | -8.4% | 24.8% | 10.28% |
2020 | 10.0% | -9.6% | 325.6% | 5.21% |
2019 | 8.4% | -3.8% | 21.5% | 91.55% |
NAV & Total Return History
HIIFX - Holdings
Concentration Analysis
HIIFX | Category Low | Category High | HIIFX % Rank | |
---|---|---|---|---|
Net Assets | 15 M | 1.85 M | 22.6 B | 97.70% |
Number of Holdings | 34 | 2 | 2736 | 98.46% |
Net Assets in Top 10 | 6.96 M | -492 M | 4.45 B | 91.51% |
Weighting of Top 10 | 45.46% | 4.2% | 149.6% | 4.63% |
Top 10 Holdings
- FIRST AM-TR OB-X 6.52%
- CDE 5 1/8 02/15/29 5.21%
- FUBO 3 1/4 02/15/26 4.80%
- HHH 4 3/8 02/01/31 4.77%
- X 6.65 06/01/37 4.47%
- AXL 5 10/01/29 4.28%
- RIG 11 1/2 01/30/27 4.05%
- JWN 5 01/15/44 3.85%
- TWI 7 04/30/28 3.78%
- BZH 5 7/8 10/15/27 3.72%
Asset Allocation
Weighting | Return Low | Return High | HIIFX % Rank | |
---|---|---|---|---|
Bonds | 89.22% | -3.13% | 154.38% | 83.72% |
Convertible Bonds | 17.89% | 0.00% | 17.89% | 0.31% |
Cash | 8.31% | -52.00% | 49.49% | 15.28% |
Preferred Stocks | 2.47% | 0.00% | 8.06% | 3.24% |
Stocks | 0.00% | 0.00% | 99.61% | 83.41% |
Other | 0.00% | -63.70% | 102.57% | 60.65% |
Bond Sector Breakdown
Weighting | Return Low | Return High | HIIFX % Rank | |
---|---|---|---|---|
Corporate | 98.08% | 0.00% | 129.69% | 14.99% |
Cash & Equivalents | 6.52% | 0.00% | 49.49% | 19.29% |
Derivative | 0.00% | -15.04% | 42.26% | 52.01% |
Securitized | 0.00% | 0.00% | 97.24% | 68.32% |
Municipal | 0.00% | 0.00% | 4.66% | 42.66% |
Government | 0.00% | 0.00% | 99.07% | 58.27% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | HIIFX % Rank | |
---|---|---|---|---|
US | 89.22% | -3.13% | 129.21% | 68.98% |
Non US | 0.00% | 0.00% | 97.33% | 63.73% |
HIIFX - Expenses
Operational Fees
HIIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.36% | 0.04% | 31.61% | 4.63% |
Management Fee | 1.00% | 0.00% | 1.84% | 96.77% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 33.44% |
Administrative Fee | N/A | 0.00% | 0.50% | 62.93% |
Sales Fees
HIIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 4.75% | 2.25% | 5.75% | 5.00% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
HIIFX 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.
HIIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 51.00% | 1.00% | 255.00% | 30.56% |
HIIFX - Distributions
Dividend Yield Analysis
HIIFX | Category Low | Category High | HIIFX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.26% | 0.00% | 35.52% | 16.56% |
Dividend Distribution Analysis
HIIFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
HIIFX | Category Low | Category High | HIIFX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.27% | -2.39% | 14.30% | 55.89% |
Capital Gain Distribution Analysis
HIIFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Feb 29, 2024 | $0.016 | OrdinaryDividend |
Jan 31, 2024 | $0.015 | OrdinaryDividend |
Dec 29, 2023 | $0.032 | OrdinaryDividend |
Nov 30, 2023 | $0.022 | OrdinaryDividend |
Oct 31, 2023 | $0.024 | OrdinaryDividend |
Sep 29, 2023 | $0.020 | OrdinaryDividend |
Aug 31, 2023 | $0.020 | OrdinaryDividend |
Jul 31, 2023 | $0.021 | OrdinaryDividend |
Jun 30, 2023 | $0.023 | OrdinaryDividend |
May 31, 2023 | $0.023 | OrdinaryDividend |
Apr 28, 2023 | $0.021 | OrdinaryDividend |
Mar 31, 2023 | $0.016 | OrdinaryDividend |
Feb 28, 2023 | $0.010 | OrdinaryDividend |
Jan 31, 2023 | $0.006 | OrdinaryDividend |
Dec 30, 2022 | $0.033 | OrdinaryDividend |
Nov 30, 2022 | $0.020 | OrdinaryDividend |
Oct 31, 2022 | $0.018 | OrdinaryDividend |
Sep 30, 2022 | $0.018 | OrdinaryDividend |
Aug 31, 2022 | $0.016 | OrdinaryDividend |
Jul 29, 2022 | $0.016 | OrdinaryDividend |
Jun 30, 2022 | $0.018 | OrdinaryDividend |
May 31, 2022 | $0.016 | OrdinaryDividend |
Apr 29, 2022 | $0.015 | OrdinaryDividend |
Mar 31, 2022 | $0.017 | OrdinaryDividend |
Feb 28, 2022 | $0.015 | OrdinaryDividend |
Jan 31, 2022 | $0.020 | OrdinaryDividend |
Nov 30, 2021 | $0.016 | OrdinaryDividend |
Oct 28, 2021 | $0.014 | OrdinaryDividend |
Sep 29, 2021 | $0.013 | OrdinaryDividend |
Aug 30, 2021 | $0.012 | OrdinaryDividend |
Jul 29, 2021 | $0.013 | OrdinaryDividend |
Jun 29, 2021 | $0.014 | OrdinaryDividend |
May 27, 2021 | $0.009 | OrdinaryDividend |
Apr 29, 2021 | $0.012 | OrdinaryDividend |
Mar 30, 2021 | $0.013 | OrdinaryDividend |
Feb 25, 2021 | $0.011 | OrdinaryDividend |
Jan 28, 2021 | $0.012 | OrdinaryDividend |
Dec 30, 2020 | $0.019 | OrdinaryDividend |
Nov 27, 2020 | $0.013 | OrdinaryDividend |
Oct 29, 2020 | $0.017 | OrdinaryDividend |
Sep 29, 2020 | $0.017 | OrdinaryDividend |
Aug 28, 2020 | $0.012 | OrdinaryDividend |
Jul 30, 2020 | $0.018 | OrdinaryDividend |
Jun 29, 2020 | $0.027 | OrdinaryDividend |
May 28, 2020 | $0.012 | OrdinaryDividend |
Apr 29, 2020 | $0.009 | OrdinaryDividend |
Mar 30, 2020 | $0.008 | OrdinaryDividend |
Feb 27, 2020 | $0.008 | OrdinaryDividend |
Jan 30, 2020 | $0.008 | OrdinaryDividend |
Dec 30, 2019 | $0.027 | OrdinaryDividend |
Nov 27, 2019 | $0.016 | OrdinaryDividend |
Oct 30, 2019 | $0.015 | OrdinaryDividend |
Sep 27, 2019 | $0.016 | OrdinaryDividend |
Aug 29, 2019 | $0.019 | OrdinaryDividend |
Jul 30, 2019 | $0.015 | OrdinaryDividend |
Jun 27, 2019 | $0.015 | OrdinaryDividend |
May 30, 2019 | $0.013 | OrdinaryDividend |
Apr 29, 2019 | $0.017 | OrdinaryDividend |
Mar 28, 2019 | $0.015 | OrdinaryDividend |
Feb 27, 2019 | $0.017 | OrdinaryDividend |
Jan 30, 2019 | $0.019 | OrdinaryDividend |
Dec 28, 2018 | $0.030 | OrdinaryDividend |
Nov 29, 2018 | $0.017 | OrdinaryDividend |
Oct 30, 2018 | $0.017 | OrdinaryDividend |
Sep 27, 2018 | $0.016 | OrdinaryDividend |
Aug 30, 2018 | $0.016 | OrdinaryDividend |
Jul 30, 2018 | $0.018 | OrdinaryDividend |
Jun 28, 2018 | $0.019 | OrdinaryDividend |
May 30, 2018 | $0.017 | OrdinaryDividend |
Apr 27, 2018 | $0.017 | OrdinaryDividend |
Mar 28, 2018 | $0.011 | OrdinaryDividend |
Feb 27, 2018 | $0.014 | OrdinaryDividend |
Jan 30, 2018 | $0.017 | OrdinaryDividend |
Dec 28, 2017 | $0.028 | OrdinaryDividend |
Nov 29, 2017 | $0.019 | OrdinaryDividend |
Oct 30, 2017 | $0.020 | OrdinaryDividend |
Sep 28, 2017 | $0.015 | OrdinaryDividend |
Aug 30, 2017 | $0.017 | OrdinaryDividend |
Jul 28, 2017 | $0.017 | OrdinaryDividend |
Jun 29, 2017 | $0.017 | OrdinaryDividend |
May 30, 2017 | $0.021 | OrdinaryDividend |
Apr 27, 2017 | $0.018 | OrdinaryDividend |
Mar 30, 2017 | $0.019 | OrdinaryDividend |
Feb 27, 2017 | $0.013 | OrdinaryDividend |
Jan 30, 2017 | $0.014 | OrdinaryDividend |
Dec 29, 2016 | $0.030 | OrdinaryDividend |
Nov 29, 2016 | $0.019 | OrdinaryDividend |
Oct 28, 2016 | $0.015 | OrdinaryDividend |
Sep 29, 2016 | $0.015 | OrdinaryDividend |
Aug 30, 2016 | $0.020 | OrdinaryDividend |
Jul 28, 2016 | $0.020 | OrdinaryDividend |
Jun 29, 2016 | $0.020 | OrdinaryDividend |
May 27, 2016 | $0.020 | OrdinaryDividend |
Apr 28, 2016 | $0.021 | OrdinaryDividend |
Mar 30, 2016 | $0.028 | OrdinaryDividend |
Feb 26, 2016 | $0.028 | OrdinaryDividend |
Jan 28, 2016 | $0.026 | OrdinaryDividend |
Dec 30, 2015 | $0.036 | OrdinaryDividend |
Nov 27, 2015 | $0.025 | OrdinaryDividend |
Oct 29, 2015 | $0.025 | OrdinaryDividend |
Sep 29, 2015 | $0.030 | OrdinaryDividend |
Aug 28, 2015 | $0.029 | OrdinaryDividend |
Jul 30, 2015 | $0.035 | OrdinaryDividend |
Jun 29, 2015 | $0.033 | OrdinaryDividend |
May 28, 2015 | $0.033 | OrdinaryDividend |
Apr 29, 2015 | $0.033 | OrdinaryDividend |
Mar 30, 2015 | $0.030 | OrdinaryDividend |
Feb 26, 2015 | $0.022 | OrdinaryDividend |
Jan 29, 2015 | $0.030 | OrdinaryDividend |
Dec 30, 2014 | $0.054 | OrdinaryDividend |
Nov 26, 2014 | $0.030 | OrdinaryDividend |
Oct 30, 2014 | $0.030 | OrdinaryDividend |
Sep 29, 2014 | $0.028 | OrdinaryDividend |
Aug 28, 2014 | $0.028 | OrdinaryDividend |
Jul 30, 2014 | $0.028 | OrdinaryDividend |
Jun 27, 2014 | $0.028 | OrdinaryDividend |
May 29, 2014 | $0.028 | OrdinaryDividend |
Apr 29, 2014 | $0.030 | OrdinaryDividend |
Mar 28, 2014 | $0.030 | OrdinaryDividend |
Feb 27, 2014 | $0.032 | OrdinaryDividend |
Jan 30, 2014 | $0.032 | OrdinaryDividend |
Dec 30, 2013 | $0.070 | OrdinaryDividend |
Nov 27, 2013 | $0.035 | OrdinaryDividend |
Oct 30, 2013 | $0.035 | OrdinaryDividend |
Sep 27, 2013 | $0.035 | OrdinaryDividend |
Aug 29, 2013 | $0.035 | OrdinaryDividend |
Jul 30, 2013 | $0.035 | OrdinaryDividend |
Jun 27, 2013 | $0.035 | OrdinaryDividend |
May 31, 2013 | $0.035 | OrdinaryDividend |
Apr 29, 2013 | $0.035 | OrdinaryDividend |
Mar 27, 2013 | $0.032 | OrdinaryDividend |
Feb 27, 2013 | $0.032 | OrdinaryDividend |
Jan 30, 2013 | $0.032 | OrdinaryDividend |
Dec 27, 2012 | $0.048 | OrdinaryDividend |
Nov 29, 2012 | $0.030 | OrdinaryDividend |
Oct 31, 2012 | $0.030 | OrdinaryDividend |
Sep 27, 2012 | $0.030 | OrdinaryDividend |
Aug 30, 2012 | $0.017 | OrdinaryDividend |
Jul 30, 2012 | $0.041 | OrdinaryDividend |
Jul 02, 2012 | $0.039 | OrdinaryDividend |
May 31, 2012 | $0.039 | OrdinaryDividend |
Apr 30, 2012 | $0.041 | OrdinaryDividend |
HIIFX - Fund Manager Analysis
Managers
Dwayne Moyers
Start Date
Tenure
Tenure Rank
May 21, 2008
14.04
14.0%
Dwayne Moyers has been with the firm since the founding of SMHCA in 1996 and has been in the industry since 1991. Mr. Moyers is a member of the SMHCA Investment Committee and is responsible for portfolio design, allocation management and overseeing the day-to-day portfolio management of the firm’s strategies. As Chief Investment Officer, Mr. Moyers oversees the Portfolio Management Team as they continually monitor the quantitative, qualitative, and risk control disciplines that are used to manage the investment strategies. Prior to joining the firm, Mr. Moyers was a credit analyst with Tandy Corporation. Mr. Moyers holds a bachelor degree in business administration from the University of Texas at Arlington.
Daniel Rudnitsky
Start Date
Tenure
Tenure Rank
Oct 31, 2012
9.59
9.6%
Daniel Rudnitsky joined SMH Capital Advisors in 2012 and serves as Senior Portfolio Manager and Vice President. As Portfolio Manager and member of the Investment Committee, Mr. Rudnitsky’s responsibilities include research and credit analysis, day-to-day portfolio management and investment origination. Mr. Rudnitsky plays a role in financial analysis and modeling processes by building financial models and researching market trends. He also works on the development of new products and facilitates expansion into new markets. Prior to joining the SMHCA team, Mr. Rudnitsky served as Investment Product/Platform Manager of New York Life Insurance Company (November 2010 to July 2012); Vice President, Municipal Bond Sales of Rockfleet Financial Services, Inc. (January 2010 to September 2010); Fixed Income Client Portfolio Manager for Institutional and Fixed Income Portfolios of Bear Stearns Asset Management (January 2007 to November 2008); Global Fixed Income Product Manager for AllianceBernstein (2004 to 2006); and various position with The Dreyfus Corporation (2004-2006). Mr. Rudnitsky holds a bachelor degree in Business Administration with a concentration in Finance from Ramapo College of New Jersey.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.13 | 37.79 | 7.12 | 8.17 |