Virtus Seix High Yield Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.6%
1 yr return
12.4%
3 Yr Avg Return
1.9%
5 Yr Avg Return
4.2%
Net Assets
$246 M
Holdings in Top 10
12.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.02%
SALES FEES
Front Load 3.75%
Deferred Load N/A
TRADING FEES
Turnover 93.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$100
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
HYPSX - Profile
Distributions
- YTD Total Return 1.6%
- 3 Yr Annualized Total Return 1.9%
- 5 Yr Annualized Total Return 4.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.01%
- Dividend Yield 6.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVirtus Seix High Yield Fund
-
Fund Family NameVirtus Funds
-
Inception DateAug 01, 2016
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Kirkpatrick
Fund Description
Under normal circumstances, the fund invests in various types of lower-rated, higher yielding debt instruments, including corporate obligations, floating rate loans and other debt obligations. The fund may invest in debt obligations of U.S. and non-U.S. issuers, including emerging market debt. The fund’s investment in non-U.S. issuers may at times be significant.
Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in high yield securities. These securities will be chosen from the broad universe of available U.S. dollar denominated, high yield securities rated below investment grade by the ICE BofA US Cash Pay High Yield Index or unrated securities that the subadviser believes are of comparable quality. Such securities are commonly known as “junk bonds” and present greater risks than investment grade bonds. Although the fund seeks to achieve its investment objective primarily through investment in high yield securities, the fund may invest up to 20% of its net assets in investment grade instruments.
The fund will be managed with a duration that is close to the fund’s comparative benchmark, the ICE BofA US High Yield BB-B Constrained Index, which is generally between 3 and 6 years. Duration measures a bond or fund’s sensitivity to interest rate or other changes (such as changes in a bond’s yield) and is expressed as a number of years or days. The higher the number, the greater the risk. Under normal circumstances, for example, if a portfolio has a duration of 5 years, its value will change by 5% if yields change by 1%. Shorter duration bonds generally result in lower expected volatility. The fund may also invest a portion of its assets in instruments that are restricted as to resale.
In addition, to implement its investment strategy, the fund may buy or sell derivative instruments (such as swaps, including credit default swaps, futures and warrants) to use as a substitute for a purchase or sale of a position in the underlying assets and/or as part of a strategy designed to reduce exposure to other risks, such as interest rate or credit risks. The fund may count the value of certain derivatives with below investment grade fixed income characteristics towards its policy to invest, under normal circumstances, at least 80% of its net assets in high yield securities.
HYPSX - Performance
Return Ranking - Trailing
Period | HYPSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.6% | -4.9% | 8.2% | 37.13% |
1 Yr | 12.4% | -4.3% | 26.0% | 31.46% |
3 Yr | 1.9%* | -15.6% | 20.6% | 43.30% |
5 Yr | 4.2%* | -11.2% | 37.3% | 23.32% |
10 Yr | N/A* | -4.7% | 19.5% | 42.67% |
* Annualized
Return Ranking - Calendar
Period | HYPSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.1% | -4.7% | 14.3% | 25.78% |
2022 | -15.1% | -33.4% | 3.6% | 42.01% |
2021 | -0.3% | -8.4% | 14.9% | 63.78% |
2020 | 4.9% | -13.9% | 302.7% | 3.87% |
2019 | 7.5% | -4.4% | 13.3% | 58.28% |
Total Return Ranking - Trailing
Period | HYPSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.6% | -4.9% | 8.2% | 37.13% |
1 Yr | 12.4% | -4.3% | 26.0% | 31.46% |
3 Yr | 1.9%* | -15.6% | 20.6% | 43.30% |
5 Yr | 4.2%* | -11.2% | 37.3% | 23.32% |
10 Yr | N/A* | -4.7% | 19.5% | 59.85% |
* Annualized
Total Return Ranking - Calendar
Period | HYPSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.2% | -4.7% | 18.7% | 21.12% |
2022 | -10.4% | -33.4% | 47.8% | 43.89% |
2021 | 4.1% | -8.4% | 24.8% | 69.98% |
2020 | 10.2% | -9.6% | 325.6% | 4.87% |
2019 | 12.7% | -3.8% | 21.5% | 66.03% |
NAV & Total Return History
HYPSX - Holdings
Concentration Analysis
HYPSX | Category Low | Category High | HYPSX % Rank | |
---|---|---|---|---|
Net Assets | 246 M | 1.85 M | 22.6 B | 67.43% |
Number of Holdings | 185 | 2 | 2736 | 77.47% |
Net Assets in Top 10 | 29.2 M | -492 M | 4.45 B | 73.46% |
Weighting of Top 10 | 12.31% | 4.2% | 149.6% | 58.95% |
Top 10 Holdings
- Ford Motor Credit Co LLC 1.96%
- DREYFUS GOVERNMENT CASH MANAGE 1.32%
- CCO Holdings LLC / CCO Holdings Capital Corp 1.29%
- VOC Escrow Ltd 1.14%
- Vector Group Ltd 1.13%
- LCPR Senior Secured Financing DAC 1.11%
- Installed Building Products Inc 1.11%
- FirstCash Inc 1.09%
- Entegris Escrow Corp 1.09%
- Uber Technologies Inc 1.07%
Asset Allocation
Weighting | Return Low | Return High | HYPSX % Rank | |
---|---|---|---|---|
Bonds | 96.97% | -3.13% | 154.38% | 22.12% |
Cash | 3.03% | -52.00% | 49.49% | 60.80% |
Convertible Bonds | 1.59% | 0.00% | 17.89% | 28.55% |
Stocks | 0.00% | 0.00% | 99.61% | 96.47% |
Preferred Stocks | 0.00% | 0.00% | 8.06% | 91.36% |
Other | 0.00% | -63.70% | 102.57% | 78.40% |
Bond Sector Breakdown
Weighting | Return Low | Return High | HYPSX % Rank | |
---|---|---|---|---|
Corporate | 97.08% | 0.00% | 129.69% | 27.98% |
Cash & Equivalents | 1.32% | 0.00% | 49.49% | 68.98% |
Derivative | 0.00% | -15.04% | 42.26% | 74.07% |
Securitized | 0.00% | 0.00% | 97.24% | 91.04% |
Municipal | 0.00% | 0.00% | 4.66% | 81.92% |
Government | 0.00% | 0.00% | 99.07% | 86.55% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | HYPSX % Rank | |
---|---|---|---|---|
US | 96.97% | -3.13% | 129.21% | 14.51% |
Non US | 0.00% | 0.00% | 97.33% | 88.12% |
HYPSX - Expenses
Operational Fees
HYPSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.02% | 0.04% | 31.61% | 48.30% |
Management Fee | 0.45% | 0.00% | 1.84% | 19.08% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 52.19% |
Administrative Fee | 0.10% | 0.00% | 0.50% | 56.77% |
Sales Fees
HYPSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 3.75% | 2.25% | 5.75% | 70.00% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
HYPSX 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.
HYPSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 93.00% | 1.00% | 255.00% | 83.87% |
HYPSX - Distributions
Dividend Yield Analysis
HYPSX | Category Low | Category High | HYPSX % Rank | |
---|---|---|---|---|
Dividend Yield | 6.22% | 0.00% | 35.52% | 47.55% |
Dividend Distribution Analysis
HYPSX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
HYPSX | Category Low | Category High | HYPSX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.01% | -2.39% | 14.30% | 69.54% |
Capital Gain Distribution Analysis
HYPSX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Feb 28, 2024 | $0.040 | OrdinaryDividend |
Jan 31, 2024 | $0.040 | OrdinaryDividend |
Dec 29, 2023 | $0.043 | OrdinaryDividend |
Nov 30, 2023 | $0.041 | OrdinaryDividend |
Oct 31, 2023 | $0.041 | OrdinaryDividend |
Sep 29, 2023 | $0.039 | OrdinaryDividend |
Aug 31, 2023 | $0.040 | OrdinaryDividend |
Jul 31, 2023 | $0.036 | OrdinaryDividend |
Jun 30, 2023 | $0.039 | OrdinaryDividend |
May 31, 2023 | $0.038 | OrdinaryDividend |
Apr 28, 2023 | $0.034 | OrdinaryDividend |
Mar 31, 2023 | $0.038 | OrdinaryDividend |
Feb 28, 2023 | $0.032 | OrdinaryDividend |
Jan 31, 2023 | $0.032 | OrdinaryDividend |
Dec 30, 2022 | $0.037 | DailyAccrualFund |
Nov 30, 2022 | $0.033 | DailyAccrualFund |
Oct 31, 2022 | $0.032 | DailyAccrualFund |
Sep 30, 2022 | $0.034 | DailyAccrualFund |
Aug 31, 2022 | $0.032 | DailyAccrualFund |
Jul 29, 2022 | $0.032 | DailyAccrualFund |
Jun 30, 2022 | $0.032 | DailyAccrualFund |
May 31, 2022 | $0.031 | DailyAccrualFund |
Apr 29, 2022 | $0.031 | DailyAccrualFund |
Mar 31, 2022 | $0.031 | DailyAccrualFund |
Feb 28, 2022 | $0.028 | DailyAccrualFund |
Jan 31, 2022 | $0.028 | DailyAccrualFund |
Dec 31, 2021 | $0.032 | DailyAccrualFund |
Nov 30, 2021 | $0.028 | DailyAccrualFund |
Oct 29, 2021 | $0.029 | DailyAccrualFund |
Sep 30, 2021 | $0.027 | DailyAccrualFund |
Aug 31, 2021 | $0.028 | DailyAccrualFund |
Jul 30, 2021 | $0.029 | DailyAccrualFund |
Jun 30, 2021 | $0.027 | DailyAccrualFund |
May 28, 2021 | $0.027 | DailyAccrualFund |
Apr 30, 2021 | $0.030 | DailyAccrualFund |
Mar 31, 2021 | $0.030 | DailyAccrualFund |
Feb 26, 2021 | $0.027 | DailyAccrualFund |
Jan 29, 2021 | $0.027 | DailyAccrualFund |
Dec 31, 2020 | $0.035 | DailyAccrualFund |
Nov 30, 2020 | $0.029 | DailyAccrualFund |
Oct 30, 2020 | $0.033 | DailyAccrualFund |
Sep 30, 2020 | $0.031 | DailyAccrualFund |
Aug 31, 2020 | $0.030 | DailyAccrualFund |
Jul 31, 2020 | $0.035 | DailyAccrualFund |
Jun 30, 2020 | $0.032 | DailyAccrualFund |
May 29, 2020 | $0.033 | DailyAccrualFund |
Apr 30, 2020 | $0.032 | DailyAccrualFund |
Mar 31, 2020 | $0.029 | DailyAccrualFund |
Feb 28, 2020 | $0.026 | DailyAccrualFund |
Jan 31, 2020 | $0.030 | DailyAccrualFund |
Dec 31, 2019 | $0.029 | DailyAccrualFund |
Nov 29, 2019 | $0.030 | DailyAccrualFund |
Oct 31, 2019 | $0.030 | DailyAccrualFund |
Sep 30, 2019 | $0.028 | DailyAccrualFund |
Aug 30, 2019 | $0.034 | DailyAccrualFund |
Jul 31, 2019 | $0.032 | DailyAccrualFund |
Jun 28, 2019 | $0.029 | OrdinaryDividend |
May 31, 2019 | $0.035 | DailyAccrualFund |
Apr 30, 2019 | $0.032 | DailyAccrualFund |
Mar 29, 2019 | $0.034 | DailyAccrualFund |
Feb 28, 2019 | $0.031 | DailyAccrualFund |
Jan 31, 2019 | $0.034 | DailyAccrualFund |
Dec 31, 2018 | $0.035 | DailyAccrualFund |
Nov 30, 2018 | $0.038 | DailyAccrualFund |
Oct 31, 2018 | $0.038 | DailyAccrualFund |
Aug 31, 2018 | $0.042 | DailyAccrualFund |
Jul 31, 2018 | $0.035 | DailyAccrualFund |
Jun 29, 2018 | $0.038 | DailyAccrualFund |
May 31, 2018 | $0.037 | DailyAccrualFund |
Apr 30, 2018 | $0.034 | DailyAccrualFund |
Mar 29, 2018 | $0.037 | DailyAccrualFund |
Feb 28, 2018 | $0.032 | DailyAccrualFund |
Jan 31, 2018 | $0.033 | DailyAccrualFund |
Dec 29, 2017 | $0.036 | DailyAccrualFund |
Nov 30, 2017 | $0.034 | DailyAccrualFund |
Oct 31, 2017 | $0.036 | DailyAccrualFund |
Oct 02, 2017 | $0.036 | DailyAccrualFund |
Sep 01, 2017 | $0.036 | DailyAccrualFund |
Aug 01, 2017 | $0.036 | DailyAccrualFund |
HYPSX - Fund Manager Analysis
Managers
Michael Kirkpatrick
Start Date
Tenure
Tenure Rank
Feb 07, 2007
15.32
15.3%
Mike serves as a senior portfolio manager with lead portfolio management responsibility for the High Quality High Yield Strategy and the Full Market High Yield Strategy. Mike joined the firm as a leveraged finance research analyst covering financials and has been a senior portfolio manager of the firm since 2007. Prior to joining the firm in 2002, Mike was a senior analyst with Oppenheimer Funds, Inc., covering the telecommunications and cable industries. He was previously vice president and co-head of research at BNY Capital Markets, Inc., where he held responsibility for the telecommunications and consumer related industries. Prior to that he was at Mendham Capital Group as a managing partner in high yield research, where he focused on consumer-related industries. Mike received a B.S. degree in Civil Engineering from the University of Delaware, School of Engineering and an M.B.A. degree from Rutgers University.
James FitzPatrick
Start Date
Tenure
Tenure Rank
Jun 19, 2013
8.95
9.0%
James is head of leveraged finance trading, and also serves as a co-portfolio manager for the High Quality High Yield Strategy and the Full Market High Yield Strategy. In addition, he has research responsibilities for the financials industry. Upon joining the firm in 1997 with a background in fixed income analysis and trading, James served as an analyst, co-portfolio manager, and head trader in the mortgage-backed securities group. In 2002, he joined the high yield group as a trader and later was named head of the High Yield Trading team. Prior to joining Seix, James was with Prudential Securities, where he handled corporate, government and mortgage trades as well as settlement and portfolio administration. James received a B.A. degree in Marketing from the University of Delaware and is a CFA Charterholder.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.13 | 37.79 | 7.12 | 8.17 |