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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

High Yield Portfolio

MSHYX | Fund

$8.53

$117 M

6.72%

$0.57

1.10%

Vitals

YTD Return

2.3%

1 yr return

13.3%

3 Yr Avg Return

2.3%

5 Yr Avg Return

3.7%

Net Assets

$117 M

Holdings in Top 10

9.4%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.10%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000,000

IRA

N/A


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

High Yield Portfolio

MSHYX | Fund

$8.53

$117 M

6.72%

$0.57

1.10%

MSHYX - Profile

Distributions

  • YTD Total Return 2.3%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return 3.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.54%
DIVIDENDS
  • Dividend Yield 6.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    High Yield Portfolio
  • Fund Family Name
    Morgan Stanley Funds
  • Inception Date
    Mar 31, 2014
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Richard Lindquist

Fund Description

Under normal circumstances, at least 80% of the Fund’s assets will be invested in high yield securities (commonly referred to as “junk bonds”). This policy may be changed without shareholder approval; however, you would be notified upon 60 days’ notice in writing of any changes. The Fund seeks to achieve its investment objective by investing primarily in high yield securities which are fixed-income securities rated by one or more rating agencies below Baa3 by Moody’s Investors Service, Inc. (“Moody’s”), below BBB- by S&P Global Ratings Group, a division of S&P Global Inc. (“S&P”), below BBB- by Fitch Ratings, Inc. (“Fitch”) or, if unrated, considered by the Adviser to be of equivalent quality. The average maturity of the Fund’s investments varies, and there is no limit on the maturity or on the credit quality of any security held by the Fund. The Fund’s securities may include distressed and defaulted securities and mezzanine investments. The Fund also may invest in investment grade fixed-income securities, including U.S. and foreign government securities, corporate bonds and collateralized bond obligations. The Fund may also invest in preferred securities, equity securities and convertible securities.
The Fund’s investment process starts with top-down macroeconomic analysis to assess the optimal positioning of the Fund. The team then applies a combination of quantitative and qualitative filters to identify securities that meet the team’s investment criteria in terms of competitive position, franchise value and management quality. The investment team’s credit analysis focuses on financial risk, business risk, management ability and intentions. Valuation analysis is used to narrow the screened investment universe to a pool of investment candidates who are then assessed in order to determine relative valuation. Finally, the Fund is constructed with sector allocation driven primarily from bottom-up security selection. Integral to the Fund construction process is the measurement and monitoring of market risk, duration and volatility and credit risk through the use of proprietary risk measures and models.
The Fund’s investment process incorporates information about environmental, social and governance issues (also referred to as ESG) via an integrated approach within the investment team’s fundamental investment analysis framework. The Adviser may engage with management of certain issuers regarding corporate governance practices as well as what the Adviser deems to be materially important environmental and/or social issues facing a company.
The Fund may also invest in loan-related investments, such as public bank loans made by banks or other financial institutions and loan participations and assignments, which may be rated investment grade or below investment grade.
The Fund may also invest in restricted and illiquid securities.
The Fund may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, risk management, portfolio management or to earn income. The Fund’s use of derivatives may involve the purchase and sale of derivative instruments such as futures, options, swaps and other related instruments and techniques. The Fund may utilize foreign currency forward exchange contracts, which are also derivatives, in connection with its investments in foreign securities. Derivative instruments used by the Fund will be counted toward the Fund’s 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy.
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MSHYX - Performance

Return Ranking - Trailing

Period MSHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -4.9% 8.2% 13.88%
1 Yr 13.3% -4.3% 26.0% 12.36%
3 Yr 2.3%* -15.6% 20.6% 31.05%
5 Yr 3.7%* -11.2% 37.3% 36.79%
10 Yr N/A* -4.7% 19.5% 5.75%

* Annualized

Return Ranking - Calendar

Period MSHYX Return Category Return Low Category Return High Rank in Category (%)
2023 6.0% -4.7% 14.3% 26.55%
2022 -16.8% -33.4% 3.6% 71.63%
2021 0.0% -8.4% 14.9% 52.53%
2020 -2.9% -13.9% 302.7% 91.26%
2019 6.8% -4.4% 13.3% 65.69%

Total Return Ranking - Trailing

Period MSHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.3% -4.9% 8.2% 13.88%
1 Yr 13.3% -4.3% 26.0% 12.36%
3 Yr 2.3%* -15.6% 20.6% 31.05%
5 Yr 3.7%* -11.2% 37.3% 36.79%
10 Yr N/A* -4.7% 19.5% 5.34%

* Annualized

Total Return Ranking - Calendar

Period MSHYX Return Category Return Low Category Return High Rank in Category (%)
2023 13.7% -4.7% 18.7% 13.51%
2022 -11.6% -33.4% 47.8% 71.63%
2021 5.7% -8.4% 24.8% 35.40%
2020 3.3% -9.6% 325.6% 80.67%
2019 14.1% -3.8% 21.5% 45.34%

NAV & Total Return History


MSHYX - Holdings

Concentration Analysis

MSHYX Category Low Category High MSHYX % Rank
Net Assets 117 M 1.85 M 22.6 B 80.80%
Number of Holdings 258 2 2736 66.05%
Net Assets in Top 10 10.5 M -492 M 4.45 B 86.73%
Weighting of Top 10 9.45% 4.2% 149.6% 84.88%

Top 10 Holdings

  1. Fly Leasing Ltd 1.43%
  2. Morgan Stanley Institutional Liquidity Funds - Government Portfolio 1.14%
  3. Ferrellgas LP / Ferrellgas Finance Corp 1.00%
  4. Enviri Corp 0.90%
  5. New Home Co Inc/The 0.89%
  6. Dealer Tire LLC / DT Issuer LLC 0.85%
  7. Carrols Restaurant Group Inc 0.83%
  8. AHP Health Partners Inc 0.82%
  9. Dycom Industries Inc 0.80%
  10. PL Development LLC / PLD Finance Corp 0.80%

Asset Allocation

Weighting Return Low Return High MSHYX % Rank
Bonds
97.40% -3.13% 154.38% 18.89%
Cash
2.59% -52.00% 49.49% 68.36%
Convertible Bonds
0.65% 0.00% 17.89% 68.83%
Stocks
0.01% 0.00% 99.61% 69.28%
Preferred Stocks
0.00% 0.00% 8.06% 95.52%
Other
0.00% -63.70% 102.57% 81.64%

Stock Sector Breakdown

Weighting Return Low Return High MSHYX % Rank
Utilities
0.00% 0.00% 100.00% 93.75%
Technology
0.00% 0.00% 33.17% 93.30%
Real Estate
0.00% 0.00% 86.71% 91.74%
Industrials
0.00% 0.00% 93.12% 93.30%
Healthcare
0.00% 0.00% 22.17% 93.08%
Financial Services
0.00% 0.00% 100.00% 93.08%
Energy
0.00% 0.00% 100.00% 27.01%
Communication Services
0.00% 0.00% 99.99% 93.53%
Consumer Defense
0.00% 0.00% 100.00% 92.63%
Consumer Cyclical
0.00% 0.00% 100.00% 93.30%
Basic Materials
0.00% 0.00% 100.00% 6.25%

Stock Geographic Breakdown

Weighting Return Low Return High MSHYX % Rank
US
0.01% 0.00% 99.61% 66.98%
Non US
0.00% -0.01% 0.83% 92.59%

Bond Sector Breakdown

Weighting Return Low Return High MSHYX % Rank
Corporate
98.25% 0.00% 129.69% 13.14%
Cash & Equivalents
1.21% 0.00% 49.49% 71.30%
Derivative
0.00% -15.04% 42.26% 78.24%
Securitized
0.00% 0.00% 97.24% 94.74%
Municipal
0.00% 0.00% 4.66% 90.57%
Government
0.00% 0.00% 99.07% 92.43%

Bond Geographic Breakdown

Weighting Return Low Return High MSHYX % Rank
US
97.40% -3.13% 129.21% 12.65%
Non US
0.00% 0.00% 97.33% 93.06%

MSHYX - Expenses

Operational Fees

MSHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.10% 0.04% 31.61% 42.44%
Management Fee 0.60% 0.00% 1.84% 68.46%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.00% 0.50% 40.10%

Sales Fees

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

Trading Fees

MSHYX 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.

MSHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 255.00% 18.16%

MSHYX - Distributions

Dividend Yield Analysis

MSHYX Category Low Category High MSHYX % Rank
Dividend Yield 6.72% 0.00% 35.52% 23.16%

Dividend Distribution Analysis

MSHYX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

MSHYX Category Low Category High MSHYX % Rank
Net Income Ratio 5.54% -2.39% 14.30% 9.58%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MSHYX - Fund Manager Analysis

Managers

Richard Lindquist


Start Date

Tenure

Tenure Rank

Feb 07, 2012

10.32

10.3%

Richard is Co-head of Leveraged Credit and head of the Global High Yield Fixed Income team at Morgan Stanley Investment Management. He joined the firm in 2011 and has been with financial industry since 1982. Prior to joining Morgan Stanley, Richard was a managing director and co-head of U.S. High Yield at Guggenheim Partners responsible for portfolio management, asset gathering, client service and overseeing all high yield trading. Previously, he was a managing director and head of the U.S. and Global High Yield Fixed Income team responsible for managing the firm’s high yield assets for pension funds, mutual funds and insurance companies, as well as globally marketing the strategy and servicing existing high yield clients at both HSBC Halbis Partners (HSBC Global Asset Management) and Credit Suisse Asset Management. Richard received a B.S. in finance from Boston College and an M.B.A. in finance from the University of Chicago. He holds the Chartered Financial Analyst designation.

Jack Cimarosa


Start Date

Tenure

Tenure Rank

Jan 31, 2017

5.33

5.3%

Jack is a portfolio manager on the High Yield Fixed Income team. He joined Morgan Stanley in 2012 and has been with financial industry since 2005. Prior to joining the firm, Jack was a trader at Guggenheim Partners focused on leveraged debt. Previously, he worked in high yield at Maple Stone Capital Advisors and The Airlie Group. He began his career at UBS, where he worked on a sales desk focusing on non-dollar rates and currencies. Jack received a B.A. in media studies from New School University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17