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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

$7.14

$325 M

0.00%

0.82%

Vitals

YTD Return

-1.1%

1 yr return

3.3%

3 Yr Avg Return

-5.8%

5 Yr Avg Return

-1.5%

Net Assets

$325 M

Holdings in Top 10

17.2%

52 WEEK LOW AND HIGH

$7.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.82%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 106.00%

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 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

$7.14

$325 M

0.00%

0.82%

SHMDX - Profile

Distributions

  • YTD Total Return -1.1%
  • 3 Yr Annualized Total Return -5.8%
  • 5 Yr Annualized Total Return -1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.18%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Virtus Stone Harbor Emerging Markets Debt Income Fund
  • Fund Family Name
    Virtus Funds
  • Inception Date
    Sep 10, 2007
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Craige

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings made for investment purposes) in Emerging Markets Fixed Income Securities. “Emerging Markets Fixed Income Securities” include fixed income securities and derivative instruments (including, but not limited to, spot and currency contracts, futures, options and swaps) that economically are tied to countries with emerging securities markets or whose performance is linked to those countries’ markets, economies or ability to repay loans. Emerging Markets Fixed Income Securities may be denominated in non-U.S. currencies or the U.S. dollar. A security or instrument is economically tied to an emerging market country if it is principally traded on the country’s securities markets or the issuer is organized or principally operates in the country, derives a majority of its income from its operations within the country or has a majority of its assets within the country. Emerging Markets Fixed Income Securities also include derivatives and other instruments used to hedge or gain exposure to emerging securities markets (for example, futures or other derivatives whose return is based on specific emerging markets securities or indices). Although the fund is not limited in the types of derivatives it can use, the fund currently expects that its derivatives investments will consist primarily of the following instruments and transactions: futures, options, swaps, credit linked notes and credit default swaps. The Fund may use derivatives to a significant extent. Derivatives included in the 80% calculation are those that have economic characteristics of emerging markets fixed income securities.

The subadviser has broad discretion to identify and invest in countries that it considers to be emerging securities markets. The fund considers “emerging market countries” to include countries identified by the World Bank Group as being “low income economies” or which are included in a JPMorgan emerging market bond index. It is anticipated that the fund will focus most of its investments in Asia, Africa, the Middle East, Latin America and/or the developing countries of Europe. Emerging Markets Fixed Income Securities may include, among other things, sovereign debt securities, corporate debt securities, structured notes, convertible securities, securities issued by supranational organizations, floating rate commercial loans, securitized loan participations, Rule 144A securities and derivatives related to these types of securities. The fund seeks capital appreciation through country selection, sector selection and security selection.

Credit Quality. The fund may invest in securities of any credit rating (including unrated securities) and may invest without limit in higher risk, below investment grade debt securities, commonly referred to as “high yield” securities or “junk bonds.”

Maturity and Duration. The subadviser normally maintains an average portfolio duration of between 2 and 7 years. However, the fund’s average duration may be outside this range, and the fund may invest in securities of any duration and maturity.

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SHMDX - Performance

Return Ranking - Trailing

Period SHMDX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.1% -6.1% 8.6% 61.59%
1 Yr 3.3% -7.0% 21.6% 82.12%
3 Yr -5.8%* -14.5% 4.2% 93.81%
5 Yr -1.5%* -9.1% 6.2% 91.54%
10 Yr 1.3%* -6.0% 4.9% 45.09%

* Annualized

Return Ranking - Calendar

Period SHMDX Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% -10.6% 17.8% 43.05%
2022 -27.4% -29.1% -2.4% 99.32%
2021 -6.9% -24.0% 2.7% 49.82%
2020 1.3% -14.0% 9.7% 43.84%
2019 8.9% -6.4% 13.0% 30.88%

Total Return Ranking - Trailing

Period SHMDX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.1% -6.1% 8.6% 61.59%
1 Yr 3.3% -7.0% 21.6% 82.12%
3 Yr -5.8%* -14.5% 4.2% 93.81%
5 Yr -1.5%* -9.1% 6.2% 91.54%
10 Yr 1.3%* -6.0% 4.9% 45.09%

* Annualized

Total Return Ranking - Calendar

Period SHMDX Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% -0.6% 20.0% 95.70%
2022 -19.7% -27.6% -1.7% 93.15%
2021 -2.5% -18.5% 7.4% 40.00%
2020 7.0% -7.8% 18.0% 24.64%
2019 15.2% -3.0% 23.0% 20.59%

NAV & Total Return History


SHMDX - Holdings

Concentration Analysis

SHMDX Category Low Category High SHMDX % Rank
Net Assets 325 M 565 K 14.4 B 45.87%
Number of Holdings 283 4 1888 46.20%
Net Assets in Top 10 56.9 M -134 M 1.25 B 46.20%
Weighting of Top 10 17.21% 5.1% 101.4% 58.33%

Top 10 Holdings

  1. Poinsettia Finance Ltd 3.67%
  2. Virtus Stone Harbor Local Markets Fund 1.92%
  3. Turkiye Government International Bond 1.83%
  4. Oman Government International Bond 1.67%
  5. Gaci First Investment Co 1.63%
  6. Virtus Stone Harbor Emerging Markets Bond Fund 1.41%
  7. Chile Government International Bond 1.38%
  8. Republic of South Africa Government International Bond 1.26%
  9. Qatar Government International Bond 1.25%
  10. Bahrain Government International Bond 1.20%

Asset Allocation

Weighting Return Low Return High SHMDX % Rank
Bonds
93.87% 0.91% 99.54% 51.82%
Stocks
3.33% -0.01% 93.55% 1.32%
Cash
2.91% 0.00% 21.93% 69.97%
Convertible Bonds
0.42% 0.00% 8.47% 37.33%
Preferred Stocks
0.00% 0.00% 1.28% 89.44%
Other
-0.11% -9.56% 88.17% 87.79%

Stock Sector Breakdown

Weighting Return Low Return High SHMDX % Rank
Technology
30.64% 0.00% 30.64% 2.74%
Consumer Cyclical
17.33% 0.00% 100.00% 21.92%
Financial Services
14.65% 0.00% 100.00% 8.22%
Industrials
9.37% 0.00% 100.00% 19.18%
Communication Services
8.92% 0.00% 8.92% 2.74%
Consumer Defense
4.83% 0.00% 24.66% 15.07%
Basic Materials
4.71% 0.00% 100.00% 52.05%
Energy
4.14% 0.00% 100.00% 34.25%
Healthcare
3.02% 0.00% 12.25% 4.11%
Real Estate
2.39% 0.00% 2.39% 2.74%
Utilities
0.00% 0.00% 11.41% 90.41%

Stock Geographic Breakdown

Weighting Return Low Return High SHMDX % Rank
US
3.33% 0.00% 93.50% 1.32%
Non US
0.00% -0.01% 1.26% 89.11%

Bond Sector Breakdown

Weighting Return Low Return High SHMDX % Rank
Government
69.98% 0.00% 99.79% 41.00%
Corporate
22.87% 0.00% 93.26% 35.00%
Cash & Equivalents
0.00% 0.00% 23.23% 97.36%
Securitized
0.00% 0.00% 2.41% 90.67%
Municipal
0.00% 0.00% 0.00% 89.00%
Derivative
-0.11% -1.03% 7.35% 79.54%

Bond Geographic Breakdown

Weighting Return Low Return High SHMDX % Rank
US
88.54% -42.31% 99.01% 32.67%
Non US
5.32% 0.00% 132.49% 69.97%

SHMDX - Expenses

Operational Fees

SHMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.82% 0.02% 35.56% 78.15%
Management Fee 0.60% 0.00% 1.10% 25.74%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.65% 50.00%

Sales Fees

SHMDX 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

SHMDX 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.

SHMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 106.00% 0.00% 218.00% 84.03%

SHMDX - Distributions

Dividend Yield Analysis

SHMDX Category Low Category High SHMDX % Rank
Dividend Yield 0.00% 0.00% 22.27% 100.00%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SHMDX Category Low Category High SHMDX % Rank
Net Income Ratio 5.18% -2.28% 8.00% 10.81%

Capital Gain Distribution Analysis

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

Distributions History

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SHMDX - Fund Manager Analysis

Managers

James Craige


Start Date

Tenure

Tenure Rank

Aug 16, 2007

14.8

14.8%

James E. Craige, Since December 2018, Co-Chief Investment Officer of Stone Harbor; From April 2006 to December 2018, Portfolio Manager of Stone Harbor; Prior to April 2006, Managing Director and Senior Portfolio Manager for emerging markets debt portfolios at Salomon Brothers Asset Management Inc.; Joined Salomon Brothers Asset Management Inc. in 1992. Craige holds the Chartered Financial Analyst designation.

Peter Wilby


Start Date

Tenure

Tenure Rank

Aug 16, 2007

14.8

14.8%

Peter founded the team in 1989. Prior to founding Stone Harbor in 2006, Peter was Chief Investment Officer of North American Fixed Income at Citigroup Asset Management, as well as a member of Citigroup Asset Management’s Executive Committee. Additionally, he served as Senior Portfolio Manager responsible for directing investment policy and strategy for all Emerging Markets Debt and High Yield portfolios. Peter was the Head of Fixed Income, a Senior Portfolio Manager for Emerging Markets Debt and High Yield, and a member of the Investment Policy Committee at Salomon Brothers Asset Management. Earlier in his career Peter was at Prudential Investment Co. where he was a Fixed Income Portfolio Manager specializing in High Yield Debt securities and also Director of the Credit Research Unit, responsible for all Corporate and Sovereign Credit Research. He began his career at Deloitte, Haskin & Sells where he served in the Audit and Tax Department. He is a Certified Public Accountant and member of the CFA Institute, the CFA Society New York, and the Council on Foreign Relations. He attained a BBA and MBA in Accounting from Pace University.

David Oliver


Start Date

Tenure

Tenure Rank

Sep 29, 2008

13.68

13.7%

David joined the team in 2008. Prior to joining Stone Harbor, David served as a Managing Director for Sales and Trading in Emerging Markets Debt at Citigroup Global Markets. He is a member of the CFA Institute and the CFA Society New York. He attained a BA from Northwestern University, MA from the University of Delaware, and MBA from the Tuck School of Business at Dartmouth College.

William Perry


Start Date

Tenure

Tenure Rank

Sep 30, 2012

9.67

9.7%

William joined the team in 2012. Prior to joining Stone Harbor, William served as an Emerging Markets Corporate Portfolio Manager at Morgan Stanley Investment Management. Prior to Morgan Stanley, William served as a Managing Director/Portfolio Manager in the Global Special Opportunities Group for Latin American Special Situations at JPMorgan/Chase. While at JPMorgan, he also served in a series of roles including Credit Risk Manager for the Global Head of Emerging Markets, Co-Head of Emerging Markets Corporate Research, and as a Vice President for Global Emerging Markets Debt Restructuring, and Latin American Capital Market. Prior to JPMorgan, William served as a Senior Associate in the Investment Banking Group at Bank of America Securities Inc. William began his career as an Associate in the Petroleum Division at Irving Trust Company. He attained a BA in International Relations and Economics from Colgate University and an MBA in Finance from the Columbia Business School.

Kumaran Damodaran


Start Date

Tenure

Tenure Rank

Sep 30, 2015

6.67

6.7%

Kumaran joined the team in 2015. Prior to joining Stone Harbor, Kumaran served as the Lead Emerging Markets Macro Portfolio Manager at GLG Partners in London. Previously, he worked as an Executive Vice President and Emerging Markets Portfolio Manager at PIMCO in Newport Beach. Prior to PIMCO, Kumaran was a Senior Vice President and Trader in Latin American Local Market Rates at Lehman Brothers in New York. Additionally, he served as a Director at Credit Suisse where he held various positions in Emerging Markets Credit, Rates & Currency Derivatives Trading in both London and New York. As a Marshall Scholar and National Science Foundation Graduate Fellow at Cambridge University, Kumaran attained a PhD in Theoretical Physics. He also has an A.B. in Physics with a Certificate in Applied and Computational Mathematics from Princeton University.

Stuart Sclater-Booth


Start Date

Tenure

Tenure Rank

Sep 30, 2017

4.67

4.7%

Stuart joined the team in 2014. Prior to joining Stone Harbor, Stuart served as Managing Director/Head of Emerging Markets Desk Strategy at Goldman Sachs. Previously, Stuart served as Executive Director/Global Head of EM Macro Strategy at JP Morgan Chase Securities. While at JP Morgan Chase Securities, he also served in a series of roles, including Executive Director of Emerging Markets Proprietary Trading and Vice President/Head of Trade Strategy. Earlier in his career, Stuart was a Research Assistant in the U.S. Macro Research Department at PaineWebber and an Assistant Economist in the Domestic Research Department at the Federal Reserve Bank of New York. Stuart attained a BA in Economics from Vassar College and an MA in Economics from Boston University.

Tenure Analysis

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