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Trending ETFs

Name

As of 03/27/2024

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

$11.01

$149 M

2.27%

$0.25

1.02%

Vitals

YTD Return

0.0%

1 yr return

2.8%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

1.4%

Net Assets

$149 M

Holdings in Top 10

36.3%

52 WEEK LOW AND HIGH

$11.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.02%

SALES FEES

Front Load 2.75%

Deferred Load N/A

TRADING FEES

Turnover 95.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$100


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$11.01

$149 M

2.27%

$0.25

1.02%

SISIX - Profile

Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 0.58%
DIVIDENDS
  • Dividend Yield 2.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Virtus Seix Investment Grade Tax-Exempt Bond Fund
  • Fund Family Name
    Virtus Funds
  • Inception Date
    Jul 18, 2017
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ronald Schwartz

Fund Description

The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in investment grade tax-exempt obligations, such as municipal securities, including securities subject to the U.S. federal alternative minimum tax. The issuers of these securities may be located in any U.S. state, territory or possession. The fund may invest up to 20% of its assets in securities subject to the U.S. federal income tax. The fund may also invest a portion of its net assets in certain taxable debt instruments. As a result of its investment strategy, the fund’s portfolio turnover rate may be 100% or more.

In selecting investments for purchase and sale, the subadviser tries to manage risk as much as possible. Based on the subadviser’s analysis of municipalities, credit risk, market trends and investment cycles, the subadviser attempts to invest more of the fund’s assets in undervalued municipal securities and less in overvalued municipal securities taking into consideration maturity, sector, credit, state and supply and demand levels.

The subadviser also attempts to identify and invest in municipal issuers with improving credit and avoid those with deteriorating credit. The subadviser anticipates that the fund’s effective maturity will range from 4 to 10 years but there is no limit on the maturities of individual securities in which the fund may invest. The fund invests in securities rated investment grade by at least one nationally recognized statistical rating organization or unrated securities that the subadviser believes are of comparable quality. The subadviser may retain securities if the rating of the security falls below investment grade and the subadviser deems retention of the security to be in the best interests of the fund.

In addition, to implement its investment strategy, the fund may buy or sell derivative instruments (such as treasury futures) to use as part of a strategy designed to reduce exposure to other risks, such as interest rate or credit risks.

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SISIX - Performance

Return Ranking - Trailing

Period SISIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -2.7% 12.2% 41.99%
1 Yr 2.8% -3.0% 38.5% 64.12%
3 Yr -0.4%* -10.3% 3.3% 30.60%
5 Yr 1.4%* -5.7% 1102.9% 20.36%
10 Yr N/A* -0.2% 248.3% 55.62%

* Annualized

Return Ranking - Calendar

Period SISIX Return Category Return Low Category Return High Rank in Category (%)
2023 2.7% -1.4% 41.0% 53.69%
2022 -8.0% -39.7% 0.3% 20.43%
2021 -2.2% -5.6% 6.9% 98.48%
2020 2.3% -2.6% 310.0% 21.84%
2019 2.4% 0.0% 26.0% 86.20%

Total Return Ranking - Trailing

Period SISIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -2.7% 12.2% 41.99%
1 Yr 2.8% -3.0% 38.5% 64.12%
3 Yr -0.4%* -10.3% 3.3% 30.60%
5 Yr 1.4%* -5.7% 1102.9% 20.36%
10 Yr N/A* -0.2% 248.3% 64.64%

* Annualized

Total Return Ranking - Calendar

Period SISIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.2% -1.3% 41.0% 61.01%
2022 -5.6% -39.7% 1.1% 16.03%
2021 2.2% -4.8% 23761504.0% 32.80%
2020 7.9% -1.5% 17057.9% 2.64%
2019 6.6% 0.2% 3514.6% 47.57%

NAV & Total Return History


SISIX - Holdings

Concentration Analysis

SISIX Category Low Category High SISIX % Rank
Net Assets 149 M 3.48 M 68.1 B 76.92%
Number of Holdings 81 2 12848 91.95%
Net Assets in Top 10 51.3 M -317 M 3.4 B 63.66%
Weighting of Top 10 36.32% 1.9% 100.4% 6.25%

Top 10 Holdings

  1. Energy Northwest 5.82%
  2. State of Ohio 5.74%
  3. City of Dallas TX Waterworks Sewer System Revenue 5.12%
  4. State of Washington 3.65%
  5. New Jersey Economic Development Authority 3.20%
  6. Indianapolis Local Public Improvement Bond Bank 3.10%
  7. State of California 2.84%
  8. State of Mississippi 2.32%
  9. Washington Suburban Sanitary Commission 2.30%
  10. Oregon State Lottery 2.24%

Asset Allocation

Weighting Return Low Return High SISIX % Rank
Bonds
95.72% 0.00% 150.86% 85.71%
Cash
4.28% -50.86% 50.09% 11.08%
Stocks
0.00% 0.00% 99.80% 35.67%
Preferred Stocks
0.00% 0.00% 0.52% 27.90%
Other
0.00% -8.54% 33.35% 34.79%
Convertible Bonds
0.00% 0.00% 0.93% 27.81%

Bond Sector Breakdown

Weighting Return Low Return High SISIX % Rank
Municipal
92.30% 44.39% 100.00% 89.65%
Cash & Equivalents
0.42% 0.00% 48.02% 42.07%
Derivative
0.00% -8.54% 23.38% 31.77%
Securitized
0.00% 0.00% 5.93% 28.91%
Corporate
0.00% 0.00% 9.41% 40.36%
Government
0.00% 0.00% 52.02% 34.09%

Bond Geographic Breakdown

Weighting Return Low Return High SISIX % Rank
US
95.72% 0.00% 142.23% 82.54%
Non US
0.00% 0.00% 23.89% 36.08%

SISIX - Expenses

Operational Fees

SISIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.02% 0.01% 20.65% 29.29%
Management Fee 0.50% 0.00% 1.20% 81.71%
12b-1 Fee 0.25% 0.00% 1.00% 44.96%
Administrative Fee 0.10% 0.01% 0.44% 34.89%

Sales Fees

SISIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.75% 0.50% 4.75% 74.01%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

SISIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

SISIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 95.00% 0.00% 283.00% 98.32%

SISIX - Distributions

Dividend Yield Analysis

SISIX Category Low Category High SISIX % Rank
Dividend Yield 2.27% 0.00% 14.36% 75.02%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SISIX Category Low Category High SISIX % Rank
Net Income Ratio 0.58% -0.53% 5.33% 95.30%

Capital Gain Distribution Analysis

SISIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

View More +

SISIX - Fund Manager Analysis

Managers

Ronald Schwartz


Start Date

Tenure

Tenure Rank

Jun 09, 1992

29.99

30.0%

Ronald Schwartz joined Seix Investment Advisors LLC’ predecessor firm in 1988 and currently serves as Senior Portfolio Manager and Managing Director and leads the Investment Grade Tax-Exempt group at Seix Investment Advisors LLC. He is a member of the Seix Investment Policy Group, which determines firm-wide asset allocation policy. He has worked in investment management since 1982.

Dusty Self


Start Date

Tenure

Tenure Rank

Jun 07, 2018

3.98

4.0%

Dusty Self is a Senior Portfolio Manager and Managing Director at Seix Investment Advisors LLC and provides analysis for all the Investment Grade Tax-Exempt Bond Funds. Ms. Self began her career as a portfolio specialist and then as a performance analyst at Seix Investment Advisors’ predecessor firm. She has worked in investment management since 1992.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58