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Name

As of 03/14/2024

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

Virtus Seix High Income Fund

SAHIX | Fund

$5.73

$131 M

6.27%

$0.36

1.16%

Vitals

YTD Return

1.5%

1 yr return

12.4%

3 Yr Avg Return

1.7%

5 Yr Avg Return

3.5%

Net Assets

$131 M

Holdings in Top 10

12.5%

52 WEEK LOW AND HIGH

$5.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.16%

SALES FEES

Front Load 5.50%

Deferred Load N/A

TRADING FEES

Turnover 103.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$100

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 03/14/2024

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

Virtus Seix High Income Fund

SAHIX | Fund

$5.73

$131 M

6.27%

$0.36

1.16%

SAHIX - Profile

Distributions

  • YTD Total Return 1.5%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.65%
DIVIDENDS
  • Dividend Yield 6.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Virtus Seix High Income Fund
  • Fund Family Name
    Virtus Funds
  • Inception Date
    Aug 01, 2014
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Kirkpatrick

Fund Description

The fund invests primarily in a diversified portfolio of higher yielding, lower-rated income-producing 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 corporate debt. The fund’s investment in non-U.S. issuers may at times be significant. There are no limits on the fund’s average-weighted maturity or on the remaining maturities of individual instruments in which the fund may invest. The fund will invest at least 65%, and may invest up to 100%, of its assets in securities rated below investment grade by the ICE BofA US Cash Pay High Yield Index or in 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 debt securities. The fund may also invest a portion of its assets in instruments that are restricted as to resale. As a result of its investment strategy, the fund’s portfolio turnover rate may be 100% or more.

In addition, to implement its investment strategy, the fund may buy or sell derivative instruments (such as foreign currency forward contracts, swaps, including credit default swaps, futures, credit linked notes, options, inverse floaters 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 65% of its net assets in non-investment grade fixed income securities.

Read More

SAHIX - Performance

Return Ranking - Trailing

Period SAHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -5.0% 8.6% 27.27%
1 Yr 12.4% -4.9% 23.6% 23.03%
3 Yr 1.7%* -15.0% 20.3% 44.75%
5 Yr 3.5%* -10.6% 37.2% 44.80%
10 Yr N/A* -4.4% 19.5% 49.35%

* Annualized

Return Ranking - Calendar

Period SAHIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% -4.7% 14.3% 31.53%
2022 -16.0% -33.4% 3.6% 58.35%
2021 -0.2% -8.4% 14.9% 56.01%
2020 1.9% -13.9% 302.7% 15.22%
2019 6.4% -4.4% 13.3% 75.13%

Total Return Ranking - Trailing

Period SAHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -5.0% 8.6% 27.27%
1 Yr 12.4% -4.9% 23.6% 23.03%
3 Yr 1.7%* -15.0% 20.3% 44.75%
5 Yr 3.5%* -10.6% 37.2% 44.80%
10 Yr N/A* -4.4% 19.5% 73.30%

* Annualized

Total Return Ranking - Calendar

Period SAHIX Return Category Return Low Category Return High Rank in Category (%)
2023 13.5% -4.7% 18.2% 16.85%
2022 -10.9% -33.4% 47.8% 55.69%
2021 5.0% -8.4% 24.8% 50.81%
2020 7.7% -9.6% 325.6% 13.88%
2019 11.9% 0.9% 21.5% 76.50%

NAV & Total Return History

SAHIX - Holdings

Concentration Analysis

SAHIX Category Low Category High SAHIX % Rank
Net Assets 131 M 1.85 M 22.6 B 77.25%
Number of Holdings 193 2 2736 76.84%
Net Assets in Top 10 16.5 M -492 M 4.45 B 81.60%
Weighting of Top 10 12.53% 4.3% 149.6% 55.52%

Top 10 Holdings

  1. Magnolia Oil Gas Operating LLC / Magnolia Oil Gas Finance Corp 1.65%
  2. CCO Holdings LLC / CCO Holdings Capital Corp 1.49%
  3. Uber Technologies Inc 1.44%
  4. DREYFUS GOVERNMENT CASH MANAGE 1.40%
  5. Installed Building Products Inc 1.12%
  6. United Wholesale Mortgage LLC 1.10%
  7. Station Casinos LLC 1.09%
  8. Vector Group Ltd 1.08%
  9. FirstCash Inc 1.08%
  10. New Fortress Energy Inc 1.08%

Asset Allocation

Weighting Return Low Return High SAHIX % Rank
Bonds 		98.09% -3.13% 154.38% 7.94%
Cash 		1.91% -52.00% 49.49% 82.52%
Convertible Bonds 		1.35% 0.00% 17.89% 37.88%
Stocks 		0.00% 0.00% 99.61% 70.84%
Preferred Stocks 		0.00% 0.00% 8.06% 70.09%
Other 		0.00% -63.70% 102.57% 65.34%

Stock Sector Breakdown

Weighting Return Low Return High SAHIX % Rank
Energy 		100.00% 0.00% 100.00% 6.09%
Utilities 		0.00% 0.00% 100.00% 62.88%
Technology 		0.00% 0.00% 33.17% 64.82%
Real Estate 		0.00% 0.00% 86.71% 60.11%
Industrials 		0.00% 0.00% 93.12% 64.54%
Healthcare 		0.00% 0.00% 22.17% 58.17%
Financial Services 		0.00% 0.00% 100.00% 64.54%
Communication Services 		0.00% 0.00% 99.99% 75.90%
Consumer Defense 		0.00% 0.00% 100.00% 60.39%
Consumer Cyclical 		0.00% 0.00% 100.00% 70.64%
Basic Materials 		0.00% 0.00% 100.00% 62.60%

Stock Geographic Breakdown

Weighting Return Low Return High SAHIX % Rank
US 		0.00% 0.00% 99.61% 69.33%
Non US 		0.00% -0.01% 0.83% 56.75%

Bond Sector Breakdown

Weighting Return Low Return High SAHIX % Rank
Corporate 		93.16% 0.00% 129.69% 66.51%
Cash & Equivalents 		1.40% 0.00% 49.49% 69.02%
Derivative 		0.00% -15.04% 42.26% 57.67%
Securitized 		0.00% 0.00% 97.24% 73.27%
Municipal 		0.00% 0.00% 4.66% 53.15%
Government 		0.00% 0.00% 99.07% 66.21%

Bond Geographic Breakdown

Weighting Return Low Return High SAHIX % Rank
US 		98.09% -3.13% 129.21% 5.67%
Non US 		0.00% 0.00% 97.33% 69.48%

SAHIX - Expenses

Operational Fees

SAHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.16% 0.04% 31.61% 37.12%
Management Fee 0.55% 0.00% 1.84% 47.40%
12b-1 Fee 0.25% 0.00% 1.00% 35.40%
Administrative Fee 0.10% 0.00% 0.50% 51.53%

Sales Fees

SAHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 2.25% 5.75% 1.98%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SAHIX 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.

SAHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 103.00% 1.00% 255.00% 89.21%

SAHIX - Distributions

Dividend Yield Analysis

SAHIX Category Low Category High SAHIX % Rank
Dividend Yield 6.27% 0.00% 28.55% 35.37%

Dividend Distribution Analysis

SAHIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

SAHIX Category Low Category High SAHIX % Rank
Net Income Ratio 4.65% -2.39% 14.30% 36.82%

Capital Gain Distribution Analysis

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

Distributions History

View More +

SAHIX - Fund Manager Analysis

Managers

Michael Kirkpatrick

Start Date

Tenure

Tenure Rank

Aug 01, 2011

10.84

10.8%

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 7.13 8.17

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