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Trending ETFs

Name

As of 07/22/2022

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

$13.04

$39.6 M

0.00%

$0.00

0.55%

Vitals

YTD Return

-15.8%

1 yr return

-6.4%

3 Yr Avg Return

4.2%

5 Yr Avg Return

N/A

Net Assets

$39.6 M

Holdings in Top 10

40.1%

52 WEEK LOW AND HIGH

$13.0
$13.00
$16.51

Expenses

OPERATING FEES

Expense Ratio 0.55%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 07/22/2022

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

$13.04

$39.6 M

0.00%

$0.00

0.55%

APEIX - Profile

Distributions

  • YTD Total Return -15.8%
  • 3 Yr Annualized Total Return 4.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.36%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Virtus Preferred Securities and Income Fund
  • Fund Family Name
    Allianz Funds
  • Inception Date
    May 30, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Willow Piersol

Fund Description

The fund seeks to achieve its objective by normally investing at least 80% of its net assets (plus borrowings made for investment purposes) in preferred securities or debt securities issued by U.S. and non‑U.S. issuers, including traditional preferred securities, floating-rate preferred securities, corporate bonds, debentures or notes, hybrid instruments that have investment and economic characteristics of both preferred securities and debt securities, convertible securities, contingent convertible securities (“CoCos”), collateralized loan obligations (“CLOs”), other securitized products and derivative instruments providing direct or “synthetic” exposure to any of the foregoing. CoCos are a form of hybrid security that generally either converts into equity or has its principal written down upon the occurrence of certain pre‑specified triggering events.
Under normal market conditions, the fund will also invest at least 25% of its total assets in the financials sector, which the fund considers to include the banking, diversified financials, financial data processing, financial information services, investment management, savings and loans, securities brokerage and services, real estate (including real estate investment trusts (“REITs”)) and insurance industries, finance companies, including captive finance companies, and similar issuers. This means that the fund has adopted a fundamental policy (which may not be changed without shareholder approval) to invest at least 25% of its total assets in the financials sector, increasing the fund’s exposure to the risks associated with that sector, including, among other things, changes in government regulations, changes in interest rates, competition, government economic policies and general economic conditions.
The fund may invest without limit in non‑U.S. securities, including securities issued in local currencies, and may invest up to 15% of its assets in emerging markets securities. The fund typically seeks to fully hedge its exposure to non‑U.S. dollar currencies.
The fund may invest in securities that are issued through private offerings without registration with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the “Securities Act”), including securities that are issued pursuant to Regulation S under the Securities Act. The fund may also invest in securities that may be offered and sold only to “qualified institutional buyers” under Rule 144A under the Securities Act. 
The fund may invest in securities of any size market capitalization or credit quality. The fund may invest without limit in debt securities rated below investment grade or unrated and determined by the Manager to be of similar quality (“high-yield securities” or “junk bonds”). Under normal conditions, the fund expects to invest the majority of its assets in debt instruments that are, based on the highest rating assigned by Standard and Poor’s, Moody’s, Fitch, Kroll or DBRS, investment grade at the time of purchase. 
The fund typically seeks to fully hedge its exposure to non‑U.S. dollar currencies. In connection with its investments in non‑U.S. securities, the fund may use over‑the‑counter (OTC) or exchange-traded derivatives, including, without limitation, various interest rate instruments, such as swaps, caps, floors or collars, and foreign currency instruments, such as forward contracts, futures contracts, options, swaps and other similar strategic instruments. The fund’s use of derivatives will include to hedge against adverse changes in interest rates and currency exchange rates and against credit risk. 
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APEIX - Performance

Return Ranking - Trailing

Period APEIX Return Category Return Low Category Return High Rank in Category (%)
YTD -15.8% -18.4% 0.1% 93.62%
1 Yr -6.4% -10.8% 2.9% 41.18%
3 Yr 4.2%* -2.2% 13.5% 18.52%
5 Yr N/A* -0.3% 12.6% N/A
10 Yr N/A* 4.1% 8.6% N/A

* Annualized

Return Ranking - Calendar

Period APEIX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.4% -3.4% 17.2% 70.73%
2022 0.6% -79.5% 9.0% 55.00%
2021 12.0% 6.4% 28.5% 46.75%
2020 N/A -15.2% -3.8% N/A
2019 N/A -7.3% 19.0% N/A

Total Return Ranking - Trailing

Period APEIX Return Category Return Low Category Return High Rank in Category (%)
YTD -15.8% -19.4% 0.1% 84.04%
1 Yr -6.4% -12.2% 16.6% 49.52%
3 Yr 4.2%* -3.2% 13.5% 27.37%
5 Yr N/A* -1.9% 12.6% N/A
10 Yr N/A* 3.3% 8.6% N/A

* Annualized

Total Return Ranking - Calendar

Period APEIX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.4% -3.4% 17.2% 70.73%
2022 0.6% -24.8% 9.0% 56.25%
2021 12.8% 6.4% 28.5% 48.05%
2020 N/A -14.9% -1.8% N/A
2019 N/A -5.0% 20.6% N/A

NAV & Total Return History


APEIX - Holdings

Concentration Analysis

APEIX Category Low Category High APEIX % Rank
Net Assets 39.6 M 12.9 M 16.4 B 86.67%
Number of Holdings 61 27 500 81.48%
Net Assets in Top 10 15.9 M 2.06 K 2.37 B 71.30%
Weighting of Top 10 40.08% 12.4% 48.5% 12.96%

Top 10 Holdings

  1. MetLife Inc. 10.75% 5.63%
  2. Sempra Energy 4.88% 5.61%
  3. SVB Financial Group 4.1% 4.84%
  4. Wells Fargo & Company 5.01% 4.76%
  5. Regions Financial Corp 4.45% PRF PERPETUAL USD 25 - Ser E 1/40th Int 4.75%
  6. Delta Air Lines Inc 7% 4.60%
  7. Bank of America Corporation 6.125% 4.59%
  8. PNC Financial Services Group Inc 6% 4.56%
  9. Deutsche Bank AG New York Branch 6% 4.53%
  10. Credit Suisse Group AG 5.25% 4.51%

Asset Allocation

Weighting Return Low Return High APEIX % Rank
Bonds
57.68% 0.00% 83.26% 17.59%
Preferred Stocks
31.35% 2.27% 115.85% 52.78%
Convertible Bonds
8.12% 0.00% 31.65% 52.78%
Cash
2.85% -27.79% 5.28% 19.44%
Stocks
0.00% -2.67% 34.04% 50.93%
Other
0.00% -0.16% 11.21% 42.59%

Bond Sector Breakdown

Weighting Return Low Return High APEIX % Rank
Corporate
92.92% 62.31% 100.00% 87.96%
Cash & Equivalents
7.08% 0.00% 8.83% 5.56%
Derivative
0.00% 0.00% 12.03% 37.96%
Securitized
0.00% 0.00% 0.02% 25.93%
Municipal
0.00% 0.00% 0.00% 25.00%
Government
0.00% 0.00% 21.71% 70.37%

Bond Geographic Breakdown

Weighting Return Low Return High APEIX % Rank
US
54.12% 0.00% 66.52% 11.11%
Non US
3.56% 0.00% 22.86% 52.78%

APEIX - Expenses

Operational Fees

APEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.55% 0.22% 2.45% 67.89%
Management Fee 0.45% 0.00% 1.00% 10.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.55% N/A

Sales Fees

APEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 2.25% N/A

Trading Fees

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

APEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 12.00% 199.00% 89.74%

APEIX - Distributions

Dividend Yield Analysis

APEIX Category Low Category High APEIX % Rank
Dividend Yield 0.00% 0.00% 7.59% 25.23%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

APEIX Category Low Category High APEIX % Rank
Net Income Ratio 4.36% 0.88% 7.54% 38.82%

Capital Gain Distribution Analysis

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

Distributions History

View More +

APEIX - Fund Manager Analysis

Managers

Willow Piersol


Start Date

Tenure

Tenure Rank

May 30, 2018

4.01

4.0%

Ms. Piersol is a portfolio manager, a senior analyst and a director with Allianz Global Investors, which she joined in 2017. As a member of the US Fixed Income team and a credit sector specialist, her responsibilities include portfolio management and corporate credit research. Ms. Piersol was previously a senior corporate credit analyst at Columbia Threadneedle Investments. Before that, Ms. Piersol was a credit analyst and senior portfolio analyst at Putnam Investments; she was also a fixed-income analyst, trader and a fund manager at BankBoston. Ms. Piersol has a B.A. and an M.A. from Boston University. She is a CFA charterholder.

Carl Pappo


Start Date

Tenure

Tenure Rank

May 30, 2018

4.01

4.0%

Mr. Pappo is CIO US Fixed Income and a managing director with Allianz Global Investors, which he joined in 2017. As the leader of the US Fixed Income team, his responsibilities include chairing the core strategy team (which sets portfolio risk allocations) and acting as lead portfolio manager for a number of strategies. Mr. Pappo previously worked at Columbia Threadneedle Investments, where he was head of the core fixed-income team; earlier at the firm, he led the credit team and the investment grade research team. Before that, Mr. Pappo worked at Fleet Investment Advisors where he managed taxable fixed-income funds and institutional portfolios. He began his career as a corporate bond trader. Mr. Pappo has a B.S. in accounting from Babson College. He is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 30.32 7.8 11.42