Continue to site >
Trending ETFs

Name

As of 05/21/2024

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

$24.12

$427 M

5.72%

$1.38

0.69%

Vitals

YTD Return

2.4%

1 yr return

9.5%

3 Yr Avg Return

1.2%

5 Yr Avg Return

3.1%

Net Assets

$427 M

Holdings in Top 10

14.5%

52 WEEK LOW AND HIGH

$24.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.69%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 43.00%

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 05/21/2024

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

$24.12

$427 M

5.72%

$1.38

0.69%

CYBRX - Profile

Distributions

  • YTD Total Return 2.4%
  • 3 Yr Annualized Total Return 1.2%
  • 5 Yr Annualized Total Return 3.1%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.22%
DIVIDENDS
  • Dividend Yield 5.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Calvert High Yield Bond Fund
  • Fund Family Name
    Calvert Investments
  • Inception Date
    Feb 01, 2019
  • Shares Outstanding
    4025986
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Raphael Leeman

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets (including borrowings for investment purposes) in high-yield, high-risk bonds, also known as “junk” bonds (“80% Policy”). The Fund invests primarily in high-yield, high-risk bonds with varying maturities, including distressed securities that are in default, which are rated lower than investment grade (i.e., bonds rated lower than Baa by Moody’s Investors Service, Inc. (“Moody’s”) or lower than BBB by S&P Global Ratings (“S&P”) or Fitch Ratings (“Fitch”)). For purposes of ratings restrictions, the average of S&P, Moody’s and Fitch is used. The Fund’s duration and maturity is managed tactically based on the investment adviser’s outlook for the fixed-income markets. For its investments, the Fund seeks to identify high-yield bonds of companies that have the ability to make timely payments of principal and interest. Using fundamental credit analysis of companies, the Fund seeks to invest in companies whose financial condition gives them greater value relative to other companies in the high-yield market, providing the further potential for capital appreciation. Consequently, capital appreciation is a secondary objective of the Fund.   

The Fund also may invest in trust preferred securities, taxable municipal obligations and loans.  In addition, the Fund may invest up to 35% of its net assets in foreign debt securities.  Foreign debt securities include American Depositary Receipts (“ADRs”), which are either sponsored or unsponsored.  The Fund may also invest in investment grade bonds (i.e., bonds rated Baa or higher by Moody’s or BBB or higher by S&P).  

The Fund may engage in forward foreign currency exchange contracts to seek to hedge against the decline in the value of currencies in which its portfolio holdings are denominated against the U.S. dollar.  The portfolio managers generally seek to hedge the Fund’s foreign currency exposure back to U.S. dollars, though the Fund may at any time have exposure to foreign currency.

The Fund may invest in asset-backed securities (“ABS”) and mortgage-backed securities (“MBS”) that represent interests in pools of mortgage loans (MBS) or other assets (ABS) assembled for sale to investors by various U.S. governmental agencies, government-related organizations and private issuers. MBS may include collateralized mortgage obligations (“CMOs”) and commercial mortgage-backed securities (“CMBS”).  The Fund may invest up to 10% of its net assets in MBS and up to 10% of its net assets in ABS.

Under certain market conditions, the Fund may opportunistically use a hedging technique that includes the purchase and sale of U.S. Treasury securities and related futures contracts (which are a type of derivative instrument) to manage the duration of the Fund and hedge interest rate risk.  The Fund may invest in money market instruments.  The Fund may also lend its securities.

The investment adviser’s staff monitors the credit quality of securities held by the Fund and other securities available to the Fund.  Although the investment adviser considers security ratings when making investment decisions, it performs its own credit and investment analysis utilizing various methodologies including “bottom up/top down” analysis and consideration of macroeconomic and technical factors, and does not rely primarily on the ratings assigned by the rating services.  In conjunction with its financial analysis, investment decisions are made in consideration of the responsible investment criteria described below.  The portfolio managers may also use sector rotation strategies in their management of the Fund.  The portfolio managers may sell a security when the investment adviser’s valuation target is reached, the fundamentals of the investment change or to pursue more attractive investment options.  A security will also be sold (in accordance with the investment adviser’s guidelines and at a time and in a manner that is determined to be in the best interests of shareholders) if the investment adviser determines that the issuer does not operate in a manner consistent with the Fund’s responsible investment criteria.  The portfolio managers attempt to improve yield and preserve and enhance principal value through timely trading.  The portfolio managers also consider the relative value of securities in the marketplace in making investment decisions.

Responsible Investing. The portfolio manager(s) seek to invest in companies that manage environmental, social and governance (“ESG”) risk exposures adequately and that are not exposed to excessive ESG risk through their principal business activities. Companies are analyzed by the investment adviser’s ESG analysts utilizing The Calvert Principles for Responsible Investment (“Principles”), a framework for considering ESG factors (a copy of which is included as an appendix to the Fund’s Prospectus). Each company is evaluated relative to an appropriate peer group based on material ESG factors as determined by the investment adviser. Pursuant to the Principles, the investment adviser seeks to identify

companies and other issuers that operate in a manner that is consistent with or promotes environmental sustainability and resource efficiency, equitable societies and respect for human rights, and accountable governance and transparency. The Fund generally invests in issuers that are believed by the investment adviser to operate in accordance with the Principles and may also invest in issuers that the investment adviser believes are likely to operate in accordance with the Principles pending the investment adviser’s engagement activity with such issuer.

Read More

CYBRX - Performance

Return Ranking - Trailing

Period CYBRX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -5.7% 6.7% 39.84%
1 Yr 9.5% -5.2% 17.1% 76.03%
3 Yr 1.2%* -15.9% 20.3% 62.42%
5 Yr 3.1%* -11.8% 37.1% 63.29%
10 Yr N/A* -5.0% 19.5% 65.31%

* Annualized

Return Ranking - Calendar

Period CYBRX Return Category Return Low Category Return High Rank in Category (%)
2023 5.1% -4.7% 14.3% 56.67%
2022 -14.9% -33.4% 3.6% 38.62%
2021 -0.6% -8.4% 8.2% 74.46%
2020 0.6% -13.2% 302.7% 32.53%
2019 N/A -4.4% 13.3% N/A

Total Return Ranking - Trailing

Period CYBRX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -5.7% 6.7% 39.84%
1 Yr 9.5% -5.2% 17.1% 76.03%
3 Yr 1.2%* -15.9% 20.3% 62.42%
5 Yr 3.1%* -11.8% 37.1% 63.29%
10 Yr N/A* -5.0% 19.5% 61.51%

* Annualized

Total Return Ranking - Calendar

Period CYBRX Return Category Return Low Category Return High Rank in Category (%)
2023 11.1% -4.7% 17.8% 72.22%
2022 -10.3% -33.4% 47.8% 43.59%
2021 4.1% -8.4% 12.4% 69.45%
2020 5.9% -9.6% 325.6% 40.10%
2019 N/A 0.9% 19.4% N/A

NAV & Total Return History


CYBRX - Holdings

Concentration Analysis

CYBRX Category Low Category High CYBRX % Rank
Net Assets 427 M 1.45 M 23.6 B 57.94%
Number of Holdings 353 2 2736 53.75%
Net Assets in Top 10 63 M -492 M 4.55 B 60.29%
Weighting of Top 10 14.48% 4.2% 146.9% 48.01%

Top 10 Holdings

  1. Morgan Stanley Institutional Liquidity Funds - Government Portfolio 4.57%
  2. State Street Navigator Securities Lending Government Money Market Portfolio 4.07%
  3. Clarios Global LP / Clarios US Finance Co 0.81%
  4. CCO Holdings LLC / CCO Holdings Capital Corp 0.77%
  5. Medline Borrower LP 0.77%
  6. Dave Buster's Inc 0.73%
  7. Ford Motor Credit Co LLC 0.73%
  8. Smyrna Ready Mix Concrete LLC 0.68%
  9. AlixPartners LLP 2021 USD Term Loan B 0.68%
  10. Imola Merger Corp 0.68%

Asset Allocation

Weighting Return Low Return High CYBRX % Rank
Bonds
95.59% -3.13% 154.38% 39.68%
Cash
8.63% -52.00% 48.07% 15.47%
Stocks
0.44% 0.00% 99.54% 45.87%
Preferred Stocks
0.28% 0.00% 7.88% 26.48%
Convertible Bonds
0.21% 0.00% 17.89% 90.75%
Other
0.01% -63.70% 102.57% 93.78%

Stock Sector Breakdown

Weighting Return Low Return High CYBRX % Rank
Utilities
64.93% 0.00% 100.00% 3.14%
Consumer Cyclical
35.07% 0.00% 100.00% 7.71%
Technology
0.00% 0.00% 33.17% 66.57%
Real Estate
0.00% 0.00% 86.71% 62.00%
Industrials
0.00% 0.00% 93.12% 66.57%
Healthcare
0.00% 0.00% 22.17% 60.57%
Financial Services
0.00% 0.00% 100.00% 65.71%
Energy
0.00% 0.00% 100.00% 87.14%
Communication Services
0.00% 0.00% 99.99% 78.00%
Consumer Defense
0.00% 0.00% 100.00% 61.43%
Basic Materials
0.00% 0.00% 100.00% 63.43%

Stock Geographic Breakdown

Weighting Return Low Return High CYBRX % Rank
US
0.44% 0.00% 99.54% 44.34%
Non US
0.00% -0.01% 0.83% 61.08%

Bond Sector Breakdown

Weighting Return Low Return High CYBRX % Rank
Corporate
96.12% 0.00% 100.00% 42.42%
Cash & Equivalents
8.63% 0.00% 48.07% 13.08%
Derivative
0.01% -15.04% 42.26% 95.85%
Securitized
0.00% 0.00% 97.24% 74.32%
Municipal
0.00% 0.00% 1.17% 54.07%
Government
0.00% 0.00% 99.07% 66.83%

Bond Geographic Breakdown

Weighting Return Low Return High CYBRX % Rank
US
93.14% -3.13% 129.21% 54.70%
Non US
2.44% 0.00% 98.19% 26.16%

CYBRX - Expenses

Operational Fees

CYBRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.69% 0.02% 38.33% 77.39%
Management Fee 0.60% 0.00% 1.84% 65.02%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.12% 0.00% 0.50% 62.30%

Sales Fees

CYBRX 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

CYBRX 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.

CYBRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 43.00% 1.00% 255.00% 20.70%

CYBRX - Distributions

Dividend Yield Analysis

CYBRX Category Low Category High CYBRX % Rank
Dividend Yield 5.72% 0.00% 11.65% 68.94%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

CYBRX Category Low Category High CYBRX % Rank
Net Income Ratio 4.22% -2.39% 14.30% 58.28%

Capital Gain Distribution Analysis

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

Distributions History

View More +

CYBRX - Fund Manager Analysis

Managers

Raphael Leeman


Start Date

Tenure

Tenure Rank

Dec 31, 2016

5.42

5.4%

Raphael Leeman is a vice president of Eaton Vance Management and credit analyst on Eaton Vance's high-yield team. He is responsible for providing research coverage on the automotive/auto parts, cable/ broadcasting, equipment rental and transportation industries. He joined Eaton Vance in 2007. Raphael began his career in the investment management industry in 2003. Before joining Eaton Vance, he was a senior research analyst with Evergreen Investments. Raphael earned a B.A., with honors, in economics from Oberlin College and an MBA from Harvard University.

Stephen Concannon


Start Date

Tenure

Tenure Rank

Jun 18, 2019

2.95

3.0%

Stephen Concannon is a vice president of Eaton Vance Management, co-director of high yield and portfolio manager on Eaton Vance’s high-yield team. He is responsible for buy and sell decisions, portfolio construction and risk management for the firm’s high-yield strategies. He joined Eaton Vance in 2000. Steve began his career in the investment management industry in 1993. Before joining Eaton Vance, he was a research analyst for Wellington Management. Steve earned a B.A. from Bates College. He is a member of the CFA Society Boston and is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.21 8.17