Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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
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 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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%
- Dividend Yield 2.3%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVirtus Seix Investment Grade Tax-Exempt Bond Fund
-
Fund Family NameVirtus Funds
-
Inception DateJul 18, 2017
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRonald 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.
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
- Energy Northwest 5.82%
- State of Ohio 5.74%
- City of Dallas TX Waterworks Sewer System Revenue 5.12%
- State of Washington 3.65%
- New Jersey Economic Development Authority 3.20%
- Indianapolis Local Public Improvement Bond Bank 3.10%
- State of California 2.84%
- State of Mississippi 2.32%
- Washington Suburban Sanitary Commission 2.30%
- 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
Date | Amount | Type |
---|---|---|
Feb 28, 2024 | $0.021 | OrdinaryDividend |
Jan 31, 2024 | $0.021 | OrdinaryDividend |
Dec 29, 2023 | $0.023 | OrdinaryDividend |
Nov 30, 2023 | $0.022 | OrdinaryDividend |
Oct 31, 2023 | $0.021 | OrdinaryDividend |
Sep 29, 2023 | $0.021 | OrdinaryDividend |
Aug 31, 2023 | $0.022 | OrdinaryDividend |
Jul 31, 2023 | $0.019 | OrdinaryDividend |
Jun 30, 2023 | $0.023 | OrdinaryDividend |
May 31, 2023 | $0.021 | OrdinaryDividend |
Apr 28, 2023 | $0.018 | OrdinaryDividend |
Mar 31, 2023 | $0.022 | OrdinaryDividend |
Feb 28, 2023 | $0.018 | OrdinaryDividend |
Jan 31, 2023 | $0.017 | OrdinaryDividend |
Dec 30, 2022 | $0.018 | OrdinaryDividend |
Nov 30, 2022 | $0.014 | OrdinaryDividend |
Oct 31, 2022 | $0.014 | DailyAccrualFund |
Sep 30, 2022 | $0.015 | DailyAccrualFund |
Aug 31, 2022 | $0.014 | DailyAccrualFund |
Jul 29, 2022 | $0.013 | DailyAccrualFund |
Jun 30, 2022 | $0.012 | DailyAccrualFund |
May 31, 2022 | $0.011 | DailyAccrualFund |
Apr 29, 2022 | $0.011 | DailyAccrualFund |
Mar 31, 2022 | $0.010 | DailyAccrualFund |
Feb 28, 2022 | $0.008 | DailyAccrualFund |
Jan 31, 2022 | $0.007 | DailyAccrualFund |
Dec 31, 2021 | $0.008 | DailyAccrualFund |
Nov 30, 2021 | $0.007 | DailyAccrualFund |
Oct 29, 2021 | $0.006 | DailyAccrualFund |
Sep 30, 2021 | $0.006 | DailyAccrualFund |
Aug 31, 2021 | $0.006 | DailyAccrualFund |
Jul 30, 2021 | $0.006 | DailyAccrualFund |
Jun 30, 2021 | $0.005 | DailyAccrualFund |
May 28, 2021 | $0.005 | DailyAccrualFund |
Apr 30, 2021 | $0.006 | DailyAccrualFund |
Mar 31, 2021 | $0.006 | DailyAccrualFund |
Feb 26, 2021 | $0.006 | DailyAccrualFund |
Jan 29, 2021 | $0.005 | DailyAccrualFund |
Dec 31, 2020 | $0.007 | DailyAccrualFund |
Nov 30, 2020 | $0.006 | DailyAccrualFund |
Oct 30, 2020 | $0.007 | DailyAccrualFund |
Sep 30, 2020 | $0.007 | DailyAccrualFund |
Aug 31, 2020 | $0.007 | DailyAccrualFund |
Jul 31, 2020 | $0.008 | DailyAccrualFund |
Jun 30, 2020 | $0.009 | DailyAccrualFund |
May 29, 2020 | $0.009 | DailyAccrualFund |
Apr 30, 2020 | $0.009 | DailyAccrualFund |
Mar 31, 2020 | $0.010 | DailyAccrualFund |
Feb 28, 2020 | $0.010 | DailyAccrualFund |
Jan 31, 2020 | $0.011 | DailyAccrualFund |
Dec 31, 2019 | $0.012 | DailyAccrualFund |
Nov 29, 2019 | $0.013 | DailyAccrualFund |
Oct 31, 2019 | $0.013 | DailyAccrualFund |
Sep 30, 2019 | $0.012 | DailyAccrualFund |
Aug 30, 2019 | $0.015 | DailyAccrualFund |
Jul 31, 2019 | $0.015 | DailyAccrualFund |
Jun 28, 2019 | $0.016 | OrdinaryDividend |
May 31, 2019 | $0.020 | DailyAccrualFund |
Apr 30, 2019 | $0.018 | DailyAccrualFund |
Mar 29, 2019 | $0.020 | DailyAccrualFund |
Feb 28, 2019 | $0.019 | DailyAccrualFund |
Jan 31, 2019 | $0.021 | DailyAccrualFund |
Dec 31, 2018 | $0.023 | DailyAccrualFund |
Nov 30, 2018 | $0.024 | DailyAccrualFund |
Oct 31, 2018 | $0.022 | DailyAccrualFund |
Aug 31, 2018 | $0.026 | DailyAccrualFund |
Jul 31, 2018 | $0.023 | DailyAccrualFund |
Jun 29, 2018 | $0.025 | DailyAccrualFund |
May 31, 2018 | $0.025 | DailyAccrualFund |
Apr 30, 2018 | $0.024 | DailyAccrualFund |
Mar 29, 2018 | $0.026 | DailyAccrualFund |
Feb 28, 2018 | $0.022 | DailyAccrualFund |
Jan 31, 2018 | $0.024 | DailyAccrualFund |
Dec 29, 2017 | $0.025 | DailyAccrualFund |
Nov 30, 2017 | $0.024 | DailyAccrualFund |
Oct 31, 2017 | $0.025 | DailyAccrualFund |
Oct 02, 2017 | $0.025 | DailyAccrualFund |
Sep 01, 2017 | $0.025 | DailyAccrualFund |
Aug 01, 2017 | $0.025 | DailyAccrualFund |
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 |