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Trending ETFs

Virtus Seix High Yield Income Fund

mutual fund
AYBPX
Payout Change
Pending
Price as of:
$7.58 +0.01 +0.13%
primary theme
High Yield Bond
AYBPX (Mutual Fund)

Virtus Seix High Yield Income Fund

Payout Change
Pending
Price as of:
$7.58 +0.01 +0.13%
primary theme
High Yield Bond
AYBPX (Mutual Fund)

Virtus Seix High Yield Income Fund

Payout Change
Pending
Price as of:
$7.58 +0.01 +0.13%
primary theme
High Yield Bond

Name

As of 12/05/2023

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

$7.58

$32.1 M

5.75%

$0.43

1.00%

Vitals

YTD Return

12.9%

1 yr return

11.2%

3 Yr Avg Return

2.3%

5 Yr Avg Return

4.2%

Net Assets

$32.1 M

Holdings in Top 10

16.8%

52 WEEK LOW AND HIGH

$7.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.00%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

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 12/05/2023

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

$7.58

$32.1 M

5.75%

$0.43

1.00%

AYBPX - Profile

Distributions

  • YTD Total Return 12.9%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return 4.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.20%
DIVIDENDS
  • Dividend Yield 5.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Virtus Seix High Yield Income Fund
  • Fund Family Name
    Allianz Funds
  • Inception Date
    Jul 31, 1996
  • Shares Outstanding
    N/A
  • Share Class
    P
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Oberto

Fund Description

The fund seeks to achieve its objective by normally investing at least 80% of its net assets (plus borrowings made for investment purposes) in high yield securities (“junk bonds”), which are fixed income securities rated below investment grade or unrated and determined to be of similar quality. The fund’s fixed income securities may be fixed-, variable- or floating-rate. The fund invests across the entire range of maturities of high yield securities.

The portfolio managers follow a disciplined, fundamental bottom-up research process, which facilitates the early identification of high yield issuers demonstrating an ability to improve their fundamental characteristics. The portfolio managers select issuers that exceed minimum credit statistics and that they believe exhibit high visibility of future expected operating performance. The portfolio managers look for the following in high yield investment candidates: ability to exceed market expectations of operating earnings; the potential for bond rating upgrades; debt reduction capabilities; the ability to secure other sources of capital; and the potential to be recognized as an acquisition candidate. The fundamental research process generally includes: breakdown of a company and its growth by division and region, including revenue model analysis; profit margin analysis; experience and quality of its management; industry dynamics and competitive analysis; distribution channel and supply chain analysis; and macroeconomic climate. The fund may invest in the securities of issuers of any market capitalization, including smaller capitalization companies. 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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AYBPX - Performance

Return Ranking - Trailing

Period AYBPX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.9% -7.4% 13.8% 1.92%
1 Yr 11.2% -11.2% 73.3% 1.62%
3 Yr 2.3%* -15.4% 19.7% 18.48%
5 Yr 4.2%* -10.9% 37.3% 22.63%
10 Yr 3.3%* -4.4% 19.4% 41.06%

* Annualized

Return Ranking - Calendar

Period AYBPX Return Category Return Low Category Return High Rank in Category (%)
2022 -15.9% -33.4% 3.6% 57.31%
2021 0.4% -8.4% 8.2% 38.04%
2020 -2.3% -13.2% 302.7% 84.35%
2019 7.9% -4.4% 13.3% 51.32%
2018 -10.0% -18.4% -0.4% 87.57%

Total Return Ranking - Trailing

Period AYBPX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.9% -7.4% 13.8% 1.92%
1 Yr 11.2% -11.2% 73.3% 1.62%
3 Yr 2.3%* -15.4% 19.7% 18.48%
5 Yr 4.2%* -10.9% 37.3% 22.63%
10 Yr 3.3%* -4.4% 19.4% 41.06%

* Annualized

Total Return Ranking - Calendar

Period AYBPX Return Category Return Low Category Return High Rank in Category (%)
2022 -10.9% -33.4% 47.8% 54.33%
2021 5.7% -8.4% 12.4% 35.25%
2020 3.6% -9.6% 325.6% 75.56%
2019 14.1% 0.9% 19.4% 42.57%
2018 -4.8% -10.7% 4.5% 85.11%

NAV & Total Return History


AYBPX - Holdings

Concentration Analysis

AYBPX Category Low Category High AYBPX % Rank
Net Assets 32.1 M 1.85 M 22.6 B 94.74%
Number of Holdings 161 2 2736 81.06%
Net Assets in Top 10 5.39 M -492 M 4.6 B 93.39%
Weighting of Top 10 16.80% 4.2% 149.0% 32.31%

Top 10 Holdings

  1. Virtus Seix Senior Loan ETF 3.66%
  2. CCF Holdings LLC 2.94%
  3. LiveStyle Inc. Series B Preferred 2.41%
  4. Ford Motor Credit Co LLC 1.25%
  5. United Wholesale Mortgage LLC 1.19%
  6. WESCO Distribution Inc 1.08%
  7. USA Compression Partners LP / USA Compression Finance Corp 1.07%
  8. Uber Technologies Inc 1.07%
  9. XPO Inc 1.07%
  10. Howard Hughes Corp/The 1.07%

Asset Allocation

Weighting Return Low Return High AYBPX % Rank
Bonds
85.68% 0.00% 154.38% 92.69%
Stocks
7.27% 0.00% 99.61% 5.26%
Cash
4.15% -52.00% 78.36% 49.05%
Preferred Stocks
2.41% 0.00% 7.89% 3.82%
Convertible Bonds
0.85% 0.00% 17.89% 64.17%
Other
0.50% -63.70% 98.03% 21.00%

Stock Sector Breakdown

Weighting Return Low Return High AYBPX % Rank
Utilities
0.00% 0.00% 100.00% 86.10%
Technology
0.00% 0.00% 33.17% 86.49%
Real Estate
0.00% 0.00% 86.71% 85.14%
Industrials
0.00% 0.00% 100.00% 1.35%
Healthcare
0.00% 0.00% 22.17% 85.91%
Financial Services
0.00% 0.00% 100.00% 87.45%
Energy
0.00% 0.00% 100.00% 96.91%
Communication Services
0.00% 0.00% 99.99% 91.51%
Consumer Defense
0.00% 0.00% 100.00% 85.33%
Consumer Cyclical
0.00% 0.00% 100.00% 85.71%
Basic Materials
0.00% 0.00% 100.00% 90.54%

Stock Geographic Breakdown

Weighting Return Low Return High AYBPX % Rank
US
7.27% 0.00% 99.61% 5.29%
Non US
0.00% -0.01% 0.83% 99.41%

Bond Sector Breakdown

Weighting Return Low Return High AYBPX % Rank
Corporate
96.22% 0.00% 129.69% 38.97%
Derivative
0.50% -12.96% 42.26% 6.75%
Cash & Equivalents
0.00% 0.00% 78.19% 100.00%
Securitized
0.00% 0.00% 97.24% 99.71%
Municipal
0.00% 0.00% 4.66% 99.41%
Government
0.00% 0.00% 99.07% 99.56%

Bond Geographic Breakdown

Weighting Return Low Return High AYBPX % Rank
US
85.68% 0.00% 129.21% 79.15%
Non US
0.00% 0.00% 97.19% 99.56%

AYBPX - Expenses

Operational Fees

AYBPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.00% 0.04% 31.61% 49.49%
Management Fee 0.48% 0.00% 1.84% 26.69%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% 77.11%

Sales Fees

AYBPX 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

AYBPX 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.

AYBPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 255.00% 62.03%

AYBPX - Distributions

Dividend Yield Analysis

AYBPX Category Low Category High AYBPX % Rank
Dividend Yield 5.75% 0.00% 35.07% 12.57%

Dividend Distribution Analysis

AYBPX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

AYBPX Category Low Category High AYBPX % Rank
Net Income Ratio 5.20% -2.39% 14.30% 14.65%

Capital Gain Distribution Analysis

AYBPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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AYBPX - Fund Manager Analysis

Managers

David Oberto


Start Date

Tenure

Tenure Rank

Apr 10, 2017

5.14

5.1%

Mr. Oberto is a portfolio manager and a director with Allianz Global Investors, which he joined in 2007. He has portfolio management, research and trading responsibilities for the Income and Growth Strategies team. He has been a portfolio manager for the firm’s US High Yield Bond strategy since 2017. In addition to management responsibility for institutional clients, Mr. Oberto is responsible for managing multiple closed-end and open-end mutual funds. He has 17 years of investment industry experience. Mr. Oberto was previously a portfolio administrator, a credit default swaps (CDS) account manager and a trade-closer for Bain Capital. He began his career as an intern at Gabelli Asset Management. Mr. Oberto has a B.S.B.A. with a concentration in finance and a minor in economics from Fordham University and an M.S. in finance from the D’Amore-McKim School of Business at Northeastern University.

Michael Yee


Start Date

Tenure

Tenure Rank

Mar 01, 2022

0.25

0.3%

Mr. Yee is a portfolio manager and a managing director with Allianz Global Investors, which he joined in 1995. He has portfolio management, research and trading responsibilities for the Income and Growth Strategies team. He is also a lead portfolio manager for the firm’s Income and Growth strategy since its inception in 2007. Mr. Yee is responsible for managing multiple closed-end and open-end mutual funds. He was previously an analyst for the Global and Systematic team with responsibilities focused on US large cap equity strategies. In addition, he also worked in global portfolio administration and in client service. Mr. Yee was previously a financial consultant for Priority One Financial/Liberty Foundation. He has a B.S. from the University of California, San Diego, and an M.B.A. from San Diego State University.

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 7.13 3.42