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Trending ETFs

Virtus Newfleet Short Duration High Income Fund

mutual fund
ASHSX
Payout Change
Pending
Price as of:
$13.46 +0.02 +0.15%
primary theme
High Yield Bond
ASHSX (Mutual Fund)

Virtus Newfleet Short Duration High Income Fund

Payout Change
Pending
Price as of:
$13.46 +0.02 +0.15%
primary theme
High Yield Bond
ASHSX (Mutual Fund)

Virtus Newfleet Short Duration High Income Fund

Payout Change
Pending
Price as of:
$13.46 +0.02 +0.15%
primary theme
High Yield Bond

Name

As of 05/24/2024

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

$13.46

$592 M

7.01%

$0.94

0.69%

Vitals

YTD Return

1.8%

1 yr return

10.6%

3 Yr Avg Return

3.5%

5 Yr Avg Return

4.9%

Net Assets

$592 M

Holdings in Top 10

16.2%

52 WEEK LOW AND HIGH

$13.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.69%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 69.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/24/2024

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

$13.46

$592 M

7.01%

$0.94

0.69%

ASHSX - Profile

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return 3.5%
  • 5 Yr Annualized Total Return 4.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.59%
DIVIDENDS
  • Dividend Yield 7.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Virtus Newfleet Short Duration High Income Fund
  • Fund Family Name
    Allianz Funds
  • Inception Date
    Feb 01, 2017
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    James Dudnick

Fund Description

The fund seeks to achieve its investment objective by normally investing at least 80% of its net assets (plus borrowings made for investment purposes) in debt securities issued by public and private companies, which are rated below investment grade (rated Ba or below by Moody’s or BB or below by S&P or Fitch, or if unrated, determined by the fund’s subadviser to be of comparable quality) (sometimes referred to as “high-yield securities” or “junk bonds”), while maintaining an average duration of less than three years, and in derivatives and other synthetic instruments that have economic characteristics similar to such debt securities. Derivatives transactions may have the effect of either magnifying or limiting the fund’s gains and losses. To illustrate the effects of changes in interest rates on a portfolio with a similar average duration, generally, a portfolio with an average duration of three years would be expected to fall approximately 3% if interest rates rose by one percentage point.

The fund may invest up to 20% of its assets in bank loans. The fund may invest up to 20% of its assets in non-U.S. securities, which will typically be U.S. dollar-denominated but may also include securities denominated in non-U.S. currencies. The fund will invest less than 10% of its net assets in securities rated CCC or below by Standard and Poor’s.

The fund invests in high yield securities and bank loans, seeking to generate investment income while protecting from adverse market conditions and prioritizing capital preservation.

The portfolio managers apply a disciplined investment approach, making use of fundamental research, to construct a portfolio for investment. The subadviser uses an investment process that focuses on adding value through issue selection, sector/industry selection and opportunistic trading. The fund will generally overweight those sectors and industries where the subadviser identifies well-valued companies whose business profiles are viewed to be improving. In selecting specific debt instruments for investment, the portfolio managers may look to such factors as the issuer’s creditworthiness, the investment’s yield in relation to its credit quality and the investment’s relative value in relation to the high yield market. The portfolio managers seek to construct a portfolio with lower volatility than the broader high yield market in part through the fund’s approach to duration and credit quality. The portfolio managers may sell a security for a variety of reasons, such as to invest in a company offering superior investment opportunities.

The fund may utilize foreign currency exchange contracts, options, stock index futures contracts, warrants and other derivative instruments. Although the fund did not invest significantly in derivative instruments as of the most recent fiscal year end, it may do so at any time.

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ASHSX - Performance

Return Ranking - Trailing

Period ASHSX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -7.0% 6.6% 51.81%
1 Yr 10.6% -4.6% 20.7% 53.24%
3 Yr 3.5%* -16.4% 20.2% 7.08%
5 Yr 4.9%* -12.0% 37.0% 9.91%
10 Yr N/A* -5.1% 19.4% 74.77%

* Annualized

Return Ranking - Calendar

Period ASHSX Return Category Return Low Category Return High Rank in Category (%)
2023 5.3% -4.7% 14.3% 45.66%
2022 -10.8% -33.4% 3.6% 8.77%
2021 -0.2% -8.4% 8.2% 58.14%
2020 -0.3% -13.2% 302.7% 53.08%
2019 2.3% -4.4% 13.3% 96.48%

Total Return Ranking - Trailing

Period ASHSX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -7.0% 6.6% 51.81%
1 Yr 10.6% -4.6% 20.7% 53.24%
3 Yr 3.5%* -16.4% 20.2% 7.08%
5 Yr 4.9%* -12.0% 37.0% 9.91%
10 Yr N/A* -5.1% 19.4% 69.98%

* Annualized

Total Return Ranking - Calendar

Period ASHSX Return Category Return Low Category Return High Rank in Category (%)
2023 12.6% -4.7% 18.7% 35.55%
2022 -5.2% -33.4% 47.8% 6.54%
2021 5.4% -8.4% 12.4% 39.87%
2020 6.1% -9.6% 325.6% 36.30%
2019 7.5% -3.8% 19.4% 93.13%

NAV & Total Return History


ASHSX - Holdings

Concentration Analysis

ASHSX Category Low Category High ASHSX % Rank
Net Assets 592 M 1.45 M 23.6 B 45.83%
Number of Holdings 145 2 2736 87.18%
Net Assets in Top 10 95.7 M -492 M 5.09 B 47.15%
Weighting of Top 10 16.22% 4.2% 146.9% 34.49%

Top 10 Holdings

  1. Shift4 Payments LLC / Shift4 Payments Finance Sub Inc 1.99%
  2. Fly Leasing Ltd 1.86%
  3. Directv Financing LLC / Directv Financing Co-Obligor Inc 1.80%
  4. Uber Technologies Inc 1.79%
  5. LSB Industries Inc 1.67%
  6. APX Group Inc 1.66%
  7. SLM Corp 1.48%
  8. DISH DBS Corp 1.35%
  9. Fortress Transportation and Infrastructure Investors LLC 1.32%
  10. Asurion LLC 1.30%

Asset Allocation

Weighting Return Low Return High ASHSX % Rank
Bonds
98.11% -3.13% 154.38% 10.24%
Cash
1.89% -52.00% 48.07% 74.53%
Convertible Bonds
0.16% 0.00% 17.89% 91.14%
Stocks
0.00% 0.00% 99.54% 99.37%
Preferred Stocks
0.00% 0.00% 7.88% 99.21%
Other
0.00% -63.70% 102.57% 84.02%

Bond Sector Breakdown

Weighting Return Low Return High ASHSX % Rank
Corporate
96.24% 0.00% 100.00% 39.30%
Cash & Equivalents
0.01% 0.00% 48.07% 85.92%
Derivative
0.00% -15.04% 42.26% 81.96%
Securitized
0.00% 0.00% 97.24% 99.05%
Municipal
0.00% 0.00% 1.17% 98.26%
Government
0.00% 0.00% 99.07% 98.73%

Bond Geographic Breakdown

Weighting Return Low Return High ASHSX % Rank
US
98.11% -3.13% 129.21% 5.85%
Non US
0.00% 0.00% 98.19% 98.58%

ASHSX - Expenses

Operational Fees

ASHSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.69% 0.02% 38.33% 78.04%
Management Fee 0.48% 0.00% 1.84% 26.34%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

ASHSX 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

ASHSX 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.

ASHSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 69.00% 1.00% 255.00% 65.00%

ASHSX - Distributions

Dividend Yield Analysis

ASHSX Category Low Category High ASHSX % Rank
Dividend Yield 7.01% 0.00% 11.76% 17.92%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

ASHSX Category Low Category High ASHSX % Rank
Net Income Ratio 4.59% -2.39% 14.30% 39.13%

Capital Gain Distribution Analysis

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

Distributions History

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ASHSX - Fund Manager Analysis

Managers

James Dudnick


Start Date

Tenure

Tenure Rank

Apr 01, 2014

8.17

8.2%

James Dudnick, CFA Director, Portfolio Manager Mr. Dudnick is a portfolio manager and a director with Allianz Global Investors, which he joined in 2005. He has portfolio-management and research responsibilities for the AllianzGI Short Duration High Income team. Mr. Dudnick was previously a financial advisor at Merrill Lynch, working with both individual and institutional clients. Before that, he worked at Goldman Sachs as a financial analyst in the investment-management division, where he conducted research and executed trades. Mr. Dudnick has a B.B.A. with high distinction in business administration from the University of Michigan Business School. He is a CFA charterholder.

Steven Gish


Start Date

Tenure

Tenure Rank

Apr 01, 2014

8.17

8.2%

Steven Gish, CFA Director, Portfolio Manager Mr. Gish is a portfolio manager and a director with Allianz Global Investors, which he joined in 2005. He has portfolio-management and research responsibilities on the AllianzGI Short Duration High Income team. Mr. Gish was previously a senior research analyst with Roth Capital Partners; before that, he worked in credit at a division of Deutsche Bank Group. Mr. Gish has a B.A. from the University of New Mexico and a M.B.A. from the University of Colorado. He is a CFA charterholder.

Justin Kass


Start Date

Tenure

Tenure Rank

Mar 01, 2022

0.25

0.3%

Mr. Kass is a portfolio manager, a managing director, CIO and co-head US Income and Growth Strategies with Allianz Global Investors, which he joined in 2000. He has portfolio management, research and trading responsibilities for the Income and Growth Strategies team. In 2003, Mr. Kass was promoted to portfolio management and began handling day-to-day portfolio manager responsibilities for the firm’s US Convertible strategy in 2005. He is also a lead portfolio manager for the firm’s Income & Growth strategy since its inception in 2007. In addition to management responsibility for institutional clients, Mr. Kass is responsible for managing multiple closed-end and open-end mutual funds. Previous to joining the firm, Mr. Kass interned on the Income and Growth Strategies team, adding significant depth to its proprietary Upgrade Alert Model. He has 24 years of investment industry experience. Mr. Kass has a B.S. from the University of California, Davis, and an M.B.A. from the UCLA Anderson School of Management. He is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.18 8.17