Virtus Seix U.S. Government Securities Ultra-Short Bond Fund
Name
As of 04/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$9.86
$262 M
5.11%
$0.50
0.69%
Vitals
YTD Return
1.8%
1 yr return
5.4%
3 Yr Avg Return
1.6%
5 Yr Avg Return
1.4%
Net Assets
$262 M
Holdings in Top 10
35.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.69%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 52.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$100
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$9.86
$262 M
5.11%
$0.50
0.69%
SSAGX - Profile
Distributions
- YTD Total Return 1.8%
- 3 Yr Annualized Total Return 1.6%
- 5 Yr Annualized Total Return 1.4%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.07%
- Dividend Yield 5.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVirtus Seix U.S. Government Securities Ultra-Short Bond Fund
-
Fund Family NameVirtus Funds
-
Inception DateAug 01, 2016
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Rieger
Fund Description
Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in short duration U.S. government securities of any credit quality. These securities may include, but are not limited to, U.S. Treasury securities, U.S. agency securities, U.S. agency mortgage-backed securities, repurchase agreements and other U.S. government securities.
The fund expects to maintain an average effective duration between 3 months and 1 year. 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. Individual purchases will generally be limited to securities with an effective duration of less than 5 years.
In selecting securities for purchase and sale, the subadviser attempts to maximize income by identifying securities that offer an acceptable yield for a given maturity. The fund may use U.S. Treasury securities futures as a vehicle to adjust duration and manage its interest rate exposure.
In addition, to implement its investment strategy, the fund may buy or sell derivative instruments (such as swaps, including credit default swaps, futures and options) 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 risk. Depending on market conditions the fund’s investment strategies may result in high portfolio turnover.
SSAGX - Performance
Return Ranking - Trailing
Period | SSAGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.8% | -1.7% | 3.5% | 40.74% |
1 Yr | 5.4% | -0.5% | 12.6% | 65.58% |
3 Yr | 1.6%* | -2.2% | 5.9% | 87.80% |
5 Yr | 1.4%* | -1.0% | 3.9% | 88.83% |
10 Yr | N/A* | -4.5% | 27.5% | 86.57% |
* Annualized
Return Ranking - Calendar
Period | SSAGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.9% | -2.3% | 4.3% | 61.11% |
2022 | -2.6% | -6.5% | 0.5% | 65.55% |
2021 | -0.3% | -2.1% | 0.3% | 35.96% |
2020 | 0.4% | -3.1% | 1.8% | 39.18% |
2019 | 0.1% | -1.2% | 6.1% | 77.72% |
Total Return Ranking - Trailing
Period | SSAGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.8% | -1.7% | 3.5% | 40.74% |
1 Yr | 5.4% | -0.5% | 12.6% | 65.58% |
3 Yr | 1.6%* | -2.2% | 5.9% | 87.80% |
5 Yr | 1.4%* | -1.0% | 3.9% | 88.83% |
10 Yr | N/A* | -4.5% | 27.5% | 85.82% |
* Annualized
Total Return Ranking - Calendar
Period | SSAGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.5% | 0.8% | 12.1% | 69.44% |
2022 | -1.4% | -5.1% | 2.5% | 83.25% |
2021 | -0.3% | -2.1% | 14.5% | 88.67% |
2020 | 1.1% | -1.0% | 3.6% | 76.29% |
2019 | 2.1% | 0.3% | 9.6% | 84.78% |
NAV & Total Return History
SSAGX - Holdings
Concentration Analysis
SSAGX | Category Low | Category High | SSAGX % Rank | |
---|---|---|---|---|
Net Assets | 262 M | 25.6 K | 22.6 B | 75.45% |
Number of Holdings | 72 | 2 | 1291 | 87.27% |
Net Assets in Top 10 | 93.4 M | 32.5 K | 17.3 B | 65.00% |
Weighting of Top 10 | 35.59% | 5.6% | 163.3% | 22.27% |
Top 10 Holdings
- Freddie Mac Multifamily Structured Pass Through Certificates 5.17%
- Fannie Mae-Aces 4.45%
- Fannie Mae-Aces 4.02%
- Fannie Mae Pool 3.81%
- United States Treasury Bill 3.75%
- Freddie Mac Non Gold Pool 3.19%
- Fannie Mae Pool 2.95%
- Fannie Mae Pool 2.88%
- Fannie Mae Pool 2.84%
- Fannie Mae REMICS 2.54%
Asset Allocation
Weighting | Return Low | Return High | SSAGX % Rank | |
---|---|---|---|---|
Bonds | 98.06% | 0.00% | 128.16% | 10.45% |
Cash | 2.03% | 0.00% | 109.89% | 75.45% |
Stocks | 0.00% | 0.00% | 97.29% | 49.55% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 40.45% |
Convertible Bonds | 0.00% | 0.00% | 15.25% | 85.84% |
Other | -0.09% | -7.74% | 99.92% | 92.73% |
Bond Sector Breakdown
Weighting | Return Low | Return High | SSAGX % Rank | |
---|---|---|---|---|
Securitized | 94.82% | 0.00% | 100.00% | 4.11% |
Cash & Equivalents | 0.00% | 0.00% | 109.89% | 96.36% |
Corporate | 0.00% | 0.00% | 99.91% | 92.24% |
Municipal | 0.00% | 0.00% | 70.39% | 67.58% |
Government | 0.00% | 0.00% | 100.00% | 85.84% |
Derivative | -0.09% | -7.49% | 21.59% | 81.36% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | SSAGX % Rank | |
---|---|---|---|---|
US | 98.06% | 0.00% | 128.16% | 10.45% |
Non US | 0.00% | 0.00% | 22.24% | 50.00% |
SSAGX - Expenses
Operational Fees
SSAGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.69% | 0.02% | 28.11% | 25.69% |
Management Fee | 0.20% | 0.00% | 1.19% | 25.91% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 56.82% |
Administrative Fee | 0.10% | 0.01% | 0.40% | 39.58% |
Sales Fees
SSAGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.50% | 5.75% | 5.26% |
Deferred Load | N/A | 0.25% | 1.00% | N/A |
Trading Fees
SSAGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 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.
SSAGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 52.00% | 0.00% | 369.54% | 28.11% |
SSAGX - Distributions
Dividend Yield Analysis
SSAGX | Category Low | Category High | SSAGX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.11% | 0.00% | 8.07% | 65.91% |
Dividend Distribution Analysis
SSAGX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
SSAGX | Category Low | Category High | SSAGX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.07% | -1.30% | 14.86% | 92.45% |
Capital Gain Distribution Analysis
SSAGX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.042 | OrdinaryDividend |
Feb 28, 2024 | $0.037 | OrdinaryDividend |
Jan 31, 2024 | $0.037 | OrdinaryDividend |
Dec 29, 2023 | $0.040 | OrdinaryDividend |
Nov 30, 2023 | $0.037 | OrdinaryDividend |
Oct 31, 2023 | $0.036 | OrdinaryDividend |
Sep 29, 2023 | $0.037 | OrdinaryDividend |
Aug 31, 2023 | $0.036 | OrdinaryDividend |
Jul 31, 2023 | $0.032 | OrdinaryDividend |
Jun 30, 2023 | $0.037 | OrdinaryDividend |
May 31, 2023 | $0.033 | OrdinaryDividend |
Apr 28, 2023 | $0.028 | OrdinaryDividend |
Mar 31, 2023 | $0.033 | OrdinaryDividend |
Feb 28, 2023 | $0.027 | OrdinaryDividend |
Jan 31, 2023 | $0.026 | OrdinaryDividend |
Dec 30, 2022 | $0.027 | DailyAccrualFund |
Nov 30, 2022 | $0.023 | DailyAccrualFund |
Oct 31, 2022 | $0.018 | DailyAccrualFund |
Sep 30, 2022 | $0.016 | DailyAccrualFund |
Aug 31, 2022 | $0.013 | DailyAccrualFund |
Jul 29, 2022 | $0.010 | DailyAccrualFund |
Jun 30, 2022 | $0.007 | DailyAccrualFund |
May 31, 2022 | $0.004 | DailyAccrualFund |
Apr 29, 2022 | $0.003 | DailyAccrualFund |
Mar 31, 2022 | $0.000 | DailyAccrualFund |
Feb 28, 2022 | $0.000 | DailyAccrualFund |
Jan 31, 2022 | $0.000 | DailyAccrualFund |
Dec 31, 2021 | $0.000 | DailyAccrualFund |
Nov 30, 2021 | $0.000 | DailyAccrualFund |
Sep 30, 2021 | $0.000 | DailyAccrualFund |
Aug 31, 2021 | $0.000 | DailyAccrualFund |
Apr 30, 2021 | $0.000 | DailyAccrualFund |
Mar 31, 2021 | $0.000 | DailyAccrualFund |
Jan 29, 2021 | $0.000 | DailyAccrualFund |
Dec 31, 2020 | $0.000 | DailyAccrualFund |
Nov 30, 2020 | $0.000 | DailyAccrualFund |
Oct 30, 2020 | $0.000 | DailyAccrualFund |
Sep 30, 2020 | $0.000 | DailyAccrualFund |
Aug 31, 2020 | $0.002 | DailyAccrualFund |
Jul 31, 2020 | $0.003 | DailyAccrualFund |
Jun 30, 2020 | $0.003 | DailyAccrualFund |
May 29, 2020 | $0.005 | DailyAccrualFund |
Apr 30, 2020 | $0.007 | DailyAccrualFund |
Mar 31, 2020 | $0.011 | DailyAccrualFund |
Feb 28, 2020 | $0.013 | DailyAccrualFund |
Jan 31, 2020 | $0.013 | DailyAccrualFund |
Dec 31, 2019 | $0.012 | DailyAccrualFund |
Nov 29, 2019 | $0.014 | DailyAccrualFund |
Oct 31, 2019 | $0.014 | DailyAccrualFund |
Sep 30, 2019 | $0.015 | DailyAccrualFund |
Aug 30, 2019 | $0.018 | DailyAccrualFund |
Jul 31, 2019 | $0.018 | DailyAccrualFund |
Jun 28, 2019 | $0.017 | OrdinaryDividend |
May 31, 2019 | $0.020 | DailyAccrualFund |
Apr 30, 2019 | $0.018 | DailyAccrualFund |
Mar 29, 2019 | $0.019 | DailyAccrualFund |
Feb 28, 2019 | $0.017 | DailyAccrualFund |
Jan 31, 2019 | $0.017 | DailyAccrualFund |
Dec 31, 2018 | $0.018 | DailyAccrualFund |
Nov 30, 2018 | $0.019 | DailyAccrualFund |
Oct 31, 2018 | $0.017 | DailyAccrualFund |
Aug 31, 2018 | $0.017 | DailyAccrualFund |
Jul 31, 2018 | $0.004 | DailyAccrualFund |
SSAGX - Fund Manager Analysis
Managers
Michael Rieger
Start Date
Tenure
Tenure Rank
Mar 17, 2014
8.21
8.2%
Michael is a seasoned senior portfolio manager focused on the securitized sector. He is a member of the Seix Investment Policy Group. Before joining Seix, Michael was a portfolio manager at AIG Global Investment, where he managed an ABS portfolio covering the full rating spectrum in addition to non-agency senior residential MBS, adjustable rate senior mortgage portfolio and international AAA residential MBS portfolios. Michael began his investment management career at Aetna Life and Casualty's Portfolio Hedging Group as an analyst. Michael received an A.B. degree (Cum Laude) in Mathematics from Dartmouth College.
Perry Troisi
Start Date
Tenure
Tenure Rank
Mar 17, 2014
8.21
8.2%
Perry is a managing director and head of investment grade, where he focuses on corporate, government-related and securitized (residential mortgage-backed, commercial mortgage-backed, and asset-backed securities) asset classes. Perry is responsible for strategic oversight of the firm’s investment grade bond portfolio management activities and is the senior portfolio manager of all investment grade (taxable) portfolios. He is a member of the Seix Investment Policy Group. Before joining Seix in 1999, Perry was a portfolio manager at GRE Insurance Group, where he was responsible for all North American fixed income assets within the group. Prior to that, he was a portfolio manager and analyst at Home Insurance Company, focused primarily on mortgage-backed securities. Perry began his career as an account analyst at Goldman, Sachs & Company. He received a B.S. degree in Economics and Computer Coordinate w/Economics from Trinity College and an M.B.A. degree in Finance from New York University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 32.44 | 6.56 | 0.13 |