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Trending ETFs

Name

As of 04/19/2024

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

$7.42

$44.7 M

0.00%

1.08%

Vitals

YTD Return

-2.6%

1 yr return

8.1%

3 Yr Avg Return

-5.4%

5 Yr Avg Return

1.2%

Net Assets

$44.7 M

Holdings in Top 10

23.8%

52 WEEK LOW AND HIGH

$7.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.08%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$500,000

IRA

$250


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 04/19/2024

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

$7.42

$44.7 M

0.00%

1.08%

BXEIX - Profile

Distributions

  • YTD Total Return -2.6%
  • 3 Yr Annualized Total Return -5.4%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.98%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    MassMutual Emerging Markets Debt Blended Total Return Fund
  • Fund Family Name
    MASSMUTUAL FUNDS
  • Inception Date
    Oct 21, 2015
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ricardo Adrogué

Fund Description

Principal Investment Strategies
The Fund invests in debt securities, derivatives, and other instruments that are economically tied to emerging market countries or countries with relatively low gross national product per capita and with the potential for rapid economic growth. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in (i) securities denominated in currencies of the emerging market countries, (ii) fixed income securities or debt instruments issued by emerging market entities or sovereign nations, and/or (iii) debt instruments denominated in or based on the currencies, interest rates, or issues of emerging market countries. Emerging market countries are defined to include any country that did not become a member of the O.E.C.D. prior to 1975 and Turkey. Certain emerging market countries are referred to as “frontier” market countries. The Fund focuses its investments in Asia, Africa, the Middle East, Latin America, and the developing countries of Europe. 
The Fund will invest in debt instruments of all types, including bonds, notes, U.S. and Group of Ten (commonly referred to as “G10”) country treasury obligations, sovereign issues, covered bonds, commercial paper, and other fixed and floating rate income securities and are either secured or unsecured, and either senior or subordinated. To a limited extent, the Fund may invest in (i) securities that are convertible into equity securities, (ii) equity securities (including warrants and common stock), (iii) certificates of deposit, (iv) bankers’ acceptances, and (v) loan participations and loan assignments which are un-securitized. Although the Fund’s investment in non-U.S. dollar denominated assets may be on a currency hedged or unhedged basis, under normal market conditions, the Fund seeks to hedge substantially all of its exposure to non-U.S. currencies. The Fund may at times have significant exposure to one or more industries or sectors. The Fund may hold a portion of its assets in cash or cash equivalents. The Fund may purchase and sell securities on a when-issued, delayed delivery, to-be-announced, or forward commitment basis. 
The Fund expects to achieve certain exposures primarily through derivative transactions, including without limitation, forward foreign currency exchange contracts; futures on securities, indexes, currencies, commodities, swaps, and other investments; options; and interest rate swaps, crosscurrency swaps, total return swaps, and credit default swaps, which may create economic leverage in the Fund. The Fund may engage in derivative transactions to enhance total return, to seek to hedge against fluctuations in securities prices, interest rates, or currency exchange rates, to change the effective duration of its portfolio, to manage certain investment risks, and/or as a substitute for the purchase or sale of securities, currencies, or commodities. Derivatives instruments that provide exposure to debt securities that are economically tied to emerging market countries or to a country the Fund’s subadviser, Barings LLC (“Barings”), or sub-subadviser, Baring International Investment Limited (“BIIL”) considers to be equivalent to such countries or have economic characteristics similar to such investments may be used to satisfy the Fund’s 80% policy.
The Fund may invest in both investment grade and below investment grade (“junk” or “high yield” bonds) debt securities. Investment grade debt securities are rated Baa3 or higher by Moody’s Investors Service, Inc. (“Moody’s) or BBBor higher by either S&P Global Ratings, a subsidiary of S&P Global (“S&P”), or Fitch Ratings, Inc. (“Fitch”), or, if unrated, determined to be of comparable quality by Barings or BIIL. Below investment grade debt securities are rated below Baa3 by Moody’s and BBB- by S&P and Fitch or, if unrated, determined by Barings or BIIL to be of comparable quality.
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BXEIX - Performance

Return Ranking - Trailing

Period BXEIX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.6% -6.1% 8.6% 78.81%
1 Yr 8.1% -7.0% 21.6% 50.33%
3 Yr -5.4%* -14.5% 4.2% 92.78%
5 Yr 1.2%* -9.1% 6.2% 27.94%
10 Yr N/A* -6.0% 4.9% N/A

* Annualized

Return Ranking - Calendar

Period BXEIX Return Category Return Low Category Return High Rank in Category (%)
2023 4.4% -10.6% 17.8% 60.60%
2022 -23.8% -29.1% -2.4% 87.33%
2021 -12.7% -24.0% 2.7% 87.72%
2020 8.9% -14.0% 9.7% 1.09%
2019 9.4% -6.4% 13.0% 26.10%

Total Return Ranking - Trailing

Period BXEIX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.6% -6.1% 8.6% 78.81%
1 Yr 8.1% -7.0% 21.6% 50.33%
3 Yr -5.4%* -14.5% 4.2% 92.78%
5 Yr 1.2%* -9.1% 6.2% 27.94%
10 Yr N/A* -6.0% 4.9% N/A

* Annualized

Total Return Ranking - Calendar

Period BXEIX Return Category Return Low Category Return High Rank in Category (%)
2023 11.4% -0.6% 20.0% 60.93%
2022 -17.8% -27.6% -1.7% 84.93%
2021 -6.6% -18.5% 7.4% 75.44%
2020 17.6% -7.8% 18.0% 1.09%
2019 17.5% -3.0% 23.0% 4.41%

NAV & Total Return History


BXEIX - Holdings

Concentration Analysis

BXEIX Category Low Category High BXEIX % Rank
Net Assets 44.7 M 565 K 14.4 B 75.91%
Number of Holdings 159 4 1888 72.61%
Net Assets in Top 10 11 M -134 M 1.25 B 75.25%
Weighting of Top 10 23.84% 5.1% 101.4% 35.33%

Top 10 Holdings

  1. SR UNSECURED 144A 09/36 2.05 3.16%
  2. BONDS 04/41 3 2.95%
  3. BONDS 04/40 1.5 2.54%
  4. BONDS REGS 08/28 2.5 2.39%
  5. BONDS 02/42 6.85 2.30%
  6. BONDS 11/47 8 2.28%
  7. SR UNSECURED 12/26 10.5 2.19%
  8. SR UNSECURED 144A 12/32 VAR 2.08%
  9. COMPANY GUAR REGS 12/99 VAR 2.04%
  10. FIXED INC CLEARING CORP.REPO 1.92%

Asset Allocation

Weighting Return Low Return High BXEIX % Rank
Bonds
92.98% 0.91% 99.54% 58.09%
Cash
4.28% 0.00% 21.93% 54.79%
Other
2.74% -9.56% 88.17% 10.89%
Convertible Bonds
2.71% 0.00% 8.47% 6.00%
Stocks
0.00% -0.01% 93.55% 66.67%
Preferred Stocks
0.00% 0.00% 1.28% 50.17%

Bond Sector Breakdown

Weighting Return Low Return High BXEIX % Rank
Government
54.94% 0.00% 99.79% 57.33%
Corporate
25.95% 0.00% 93.26% 31.00%
Derivative
0.83% -1.03% 7.35% 7.92%
Cash & Equivalents
0.57% 0.00% 23.23% 65.35%
Securitized
0.00% 0.00% 2.41% 55.33%
Municipal
0.00% 0.00% 0.00% 48.67%

Bond Geographic Breakdown

Weighting Return Low Return High BXEIX % Rank
US
60.57% -42.31% 99.01% 57.43%
Non US
32.41% 0.00% 132.49% 41.91%

BXEIX - Expenses

Operational Fees

BXEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.08% 0.02% 35.56% 60.26%
Management Fee 0.75% 0.00% 1.10% 66.34%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.65% 5.60%

Sales Fees

BXEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

BXEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 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.

BXEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 218.00% 88.50%

BXEIX - Distributions

Dividend Yield Analysis

BXEIX Category Low Category High BXEIX % Rank
Dividend Yield 0.00% 0.00% 22.27% 38.94%

Dividend Distribution Analysis

BXEIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

BXEIX Category Low Category High BXEIX % Rank
Net Income Ratio 3.98% -2.28% 8.00% 55.07%

Capital Gain Distribution Analysis

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

Distributions History

View More +

BXEIX - Fund Manager Analysis

Managers

Ricardo Adrogué


Start Date

Tenure

Tenure Rank

Oct 21, 2015

6.61

6.6%

Dr. Adrogué is a Managing Director and Head of Barings’ Global Sovereign Debt and Currencies Group. He is the lead portfolio manager for the Emerging Markets Local Debt strategy and Blended Total Return Debt strategy, and backup portfolio manager for the Emerging Markets Sovereign Hard Currency Debt strategy. Dr. Adrogué has worked in the industry since 1992 and his experience has encompassed portfolio management, economic strategy and academia. Prior to joining the firm in 2013, he was at Cabezon Investment Group, LLC as well as at Wellington Management Company where he built a successful track record for the Emerging Markets Local Debt program and managed over $11 billion. Before Wellington, he worked at the International Monetary Fund conducting inflation modeling work for central banks and was country desk for Brazil, Costa Rica, and Trinidad and Tobago. He also worked with Salomon Smith Barney/Citigroup as a vice president of markets and economic analysis, a senior economist and strategist for Panama and Peru, and New York University as an adjunct professor of Latin American Economics. Dr. Adrogué holds a B.A. in Economics from the Universidad Católica Argentina, an M.A. in Economics and a Ph.D. from the University of California, Los Angeles.

Cem Karacadag


Start Date

Tenure

Tenure Rank

Oct 21, 2015

6.61

6.6%

Mr. Karacadag is a Managing Director and Head of Barings’ Emerging Markets Sovereign Debt Group. He is the lead portfolio manager for the Emerging Markets Sovereign Debt strategy and backup portfolio manager for the firm’s Emerging Markets Sovereign Local Debt strategy and Blended Total Return strategy. Mr. Karacadag has worked in the industry since 1994 and his experience has encompassed sovereign credit analysis, macroeconomic policy research and advice, and emerging markets fixed income strategy. Prior to joining the firm in 2014, he was at OppenheimerFunds, where he worked on sovereign hard currency and local currency investments in Eastern Europe and Asia. Before Oppenheimer, he worked at Credit Suisse covering emerging market sovereigns in Asia and Latin America, and at the International Monetary Fund, where he focused on monetary policy instruments, exchange rate policy and bank restructuring in China, Indonesia and Eastern Europe. He also held positions at Standard & Poor’s and the Federal Reserve Bank of New York. Mr. Karacadag holds a B.A. in Economics from Tufts University and an M.A. in International Economics and European Studies from Johns Hopkins University.

Natalia Krol


Start Date

Tenure

Tenure Rank

Aug 02, 2018

3.83

3.8%

Ms. Krol is a Director and portfolio manager of Barings’ Emerging Markets Blended Total Return strategy. Prior to joining Barings, she was a Credit Analyst at Schroders Investment Management, where she covered natural resources and capital goods sectors across emerging markets, European high yield and investment grade markets, and a European High Yield Research Analyst at Barclays Capital.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.87 6.38 6.11