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Trending ETFs

Name

As of 06/18/2024

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

$10.24

$480 M

11.26%

$1.15

0.82%

Vitals

YTD Return

11.3%

1 yr return

20.8%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$480 M

Holdings in Top 10

14.7%

52 WEEK LOW AND HIGH

$10.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.82%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/18/2024

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

$10.24

$480 M

11.26%

$1.15

0.82%

BHIIX - Profile

Distributions

  • YTD Total Return 11.3%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 11.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Brigade High Income Fund
  • Fund Family Name
    N/A
  • Inception Date
    May 05, 2023
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund seeks to outperform its primary and secondary benchmarks, before expenses, the ICE BofA US High Yield Constrained Index (primary benchmark) and a blend of 60% ICE BofA U.S High Yield Contrained Index/40% Credit Suisse Leveraged Loan Index (secondary benchmark), while providing a similar level of volatility over the entire market cycle.

The Fund seeks to achieve its objective by investing in a diversified portfolio of high yield corporate bonds and loans, as well as through opportunistic investments amongst various sub-strategies within corporate credit. The Fund’s strategy will be executed by employing a bottom-up, fundamental research-based process implemented to seek to balance risk and reward, utilizing portfolio rotation as the credit cycle evolves.

The Adviser will invest in corporate credit instruments throughout the entire credit cycle in an effort to create a balanced, diversified portfolio. Types of corporate credit investments in which the Fund invests include high yield bonds and leveraged loans (including debtor-in-possession (“DIP”), distressed debt, covenant-lite loans, secured and unsecured assignments of or participations in loans, accounts and notes payable, private claims, financial instruments, collateral on financial instruments and investments in companies involved in (or the target of) acquisition attempts or tender offers or companies involved in work-outs, liquidations, spin-offs, reorganizations, bankruptcies and similar transactions), investment grade corporate debt, convertibles and collateralized loan and bond obligations, foreign debt securities, and mezzanine securities.

The Fund also intends to primarily invest in credit instruments that are rated below investment grade by some or all relevant independent rating agencies, including Moody’s Investors Service, Standard and Poor’s Rating Services and Fitch Ratings (including a significant portion of such assets in credit instruments in the lower tier of the high yield market that are rated B and below). Additionally, certain other high yield securities may be unrated by rating agencies but determined by the Adviser to be of similar quality as other below investment grade bonds and credit instruments and accordingly purchased for investment by the Fund. The Fund does not have a percentage limitation on investing in securities that are rated below investment grade.

In addition, the Fund may also purchase equity securities or otherwise hold positions in equity or other assets that the Fund receives as part of a reorganization process of a high yield issuer and may hold those assets until such time as the Adviser believes that a disposition is most advantageous. From time to time, the Fund may make investments in distressed or defaulted securities or in issuers that are in bankruptcy. The Fund does not have any maturity or duration requirements.

Furthermore, the Fund’s exposure to any sector will not exceed 30% of the net assets of the Fund, calculated at the time of investment (with sector categorization as defined by Bloomberg).

The Adviser may elect to utilize leverage depending on market conditions and may also seek to hedge certain exposures through the use of indices and derivatives, including exchange traded funds (“ETFs”) (or options on exchange-traded funds. Credit hedges can include buying protection via single name credit default swaps, buying protection on the CDS index, CDS index swaption or the high yield index total return swap. Interest rate hedges can include interest rate swaps, swaptions and treasury futures.

The Adviser may also seek to hedge risks by investing the Fund’s assets in currencies, currency futures contracts and options on currency futures contracts, forward currency contracts, options, swaps, swaptions, or any combination thereof (whether or not exchange traded).

The Fund will sell a security for several reasons, including when: (i) the fundamentals of the company change, (ii) a holding reaches its price target, or (iii) a position takes on additional risk. The Fund may seek to sell all or part of a position in one or more trades depending on, among other things, the security and its trading market and profile.

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BHIIX - Performance

Return Ranking - Trailing

Period BHIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.3% N/A N/A N/A
1 Yr 20.8% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period BHIIX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period BHIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.3% N/A N/A N/A
1 Yr 20.8% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period BHIIX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

NAV & Total Return History


BHIIX - Holdings

Concentration Analysis

BHIIX Category Low Category High BHIIX % Rank
Net Assets 480 M N/A N/A N/A
Number of Holdings 224 N/A N/A N/A
Net Assets in Top 10 75.6 M N/A N/A N/A
Weighting of Top 10 14.70% N/A N/A N/A

Top 10 Holdings

  1. State Street Institutional US Government Money Market Fund 3.63%
  2. EPIC Y-Grade Services LP 1.89%
  3. Tenet Healthcare Corp. 1.49%
  4. TransDigm, Inc. 1.40%
  5. Radiology Partners, Inc. 1.14%
  6. Hilton Domestic Operating Co., Inc. 1.04%
  7. Team Health Holdings, Inc. 1.04%
  8. Global Medical Response, Inc. 1.04%
  9. Team Health Holdings, Inc. 1.02%
  10. Warhorse Gaming, LLC 1.01%

Asset Allocation

Weighting Return Low Return High BHIIX % Rank
Bonds
94.57% N/A N/A N/A
Cash
4.88% N/A N/A N/A
Stocks
0.72% N/A N/A N/A
Preferred Stocks
0.00% N/A N/A N/A
Convertible Bonds
0.00% N/A N/A N/A
Other
-0.17% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High BHIIX % Rank
Utilities
0.00% N/A N/A N/A
Technology
0.00% N/A N/A N/A
Real Estate
0.00% N/A N/A N/A
Industrials
0.00% N/A N/A N/A
Healthcare
0.00% N/A N/A N/A
Financial Services
0.00% N/A N/A N/A
Energy
0.00% N/A N/A N/A
Communication Services
0.00% N/A N/A N/A
Consumer Defense
0.00% N/A N/A N/A
Consumer Cyclical
0.00% N/A N/A N/A
Basic Materials
0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High BHIIX % Rank
US
0.72% N/A N/A N/A
Non US
0.00% N/A N/A N/A

Bond Sector Breakdown

Weighting Return Low Return High BHIIX % Rank
Cash & Equivalents
3.63% N/A N/A N/A
Securitized
0.00% N/A N/A N/A
Corporate
0.00% N/A N/A N/A
Municipal
0.00% N/A N/A N/A
Government
0.00% N/A N/A N/A
Derivative
-0.17% N/A N/A N/A

Bond Geographic Breakdown

Weighting Return Low Return High BHIIX % Rank
US
94.40% N/A N/A N/A
Non US
0.17% N/A N/A N/A

BHIIX - Expenses

Operational Fees

BHIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.82% N/A N/A N/A
Management Fee 0.50% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

BHIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

BHIIX 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.

BHIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

BHIIX - Distributions

Dividend Yield Analysis

BHIIX Category Low Category High BHIIX % Rank
Dividend Yield 11.26% N/A N/A N/A

Dividend Distribution Analysis

BHIIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly

Net Income Ratio Analysis

BHIIX Category Low Category High BHIIX % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

BHIIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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BHIIX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A