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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
7.4%
1 yr return
11.2%
3 Yr Avg Return
6.3%
5 Yr Avg Return
5.5%
Net Assets
$817 M
Holdings in Top 10
10.3%
Expense Ratio 1.04%
Front Load 2.50%
Deferred Load N/A
Turnover 81.57%
Redemption Fee N/A
Standard (Taxable)
$1,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in floating rate loans and other floating rate securities. These investments effectively should enable the fund to achieve a floating rate of income. The fund's sub-adviser, Alcentra NY, LLC, normally focuses on senior secured floating rate loans, which are loans secured by specific collateral of the borrower and are senior to most other securities of the borrower (e.g., common stock or debt instruments) in the event of bankruptcy. The fund's investments in floating rate loans and other floating rate securities also may include, without limitation, (i) second lien loans, senior unsecured loans and subordinated loans, (ii) senior and subordinated corporate debt obligations (such as bonds, debentures and notes), and (iii) debt obligations issued by governments, their agencies and instrumentalities, and debt obligations issued by central banks. The fund may purchase participations and assignments in, and commitments to purchase, floating rate loans. The fund currently intends to invest principally in floating rate loans and other floating rate securities of U.S. issuers, but may invest up to 30% of its net assets in securities of foreign issuers, typically those located in foreign countries that are members of the Organisation for Economic Co-operation and Development.
Floating rate instruments are loans and other securities with interest rates that adjust or "float" periodically based on a specified interest rate or other reference. Floating rate loans are made by banks and other financial institutions to their corporate clients.
The fund may invest in floating rate loans and other securities of any credit quality, maturity and duration. The floating rate loans and other floating rate securities in which the fund invests typically will be rated, at the time of investment, below investment grade (i.e., below BBB- or Baa3) by one or more nationally recognized statistical rating organizations (NRSROs) that rate such instruments, or, if unrated, determined to be of comparable quality by the fund's sub-adviser (commonly referred to as "junk" or "high yield" instruments). The fund may invest up to 20% of its net assets in the aggregate in floating rate loans and other floating rate securities and fixed rate high yield bonds rated, at the time of investment, in the lower rated categories (CCC+ or Caa1 or lower) by an NRSRO or, if unrated, determined to be of comparable quality by the fund's sub-adviser. The fund may not invest in issuers which are in default (i.e., failing to pay interest or principal when due) at the time of purchase, except for investments in debt issued in connection with a company in bankruptcy that is senior to all other debt, equity, and any other securities in connection with such issuer.
The fund's sub-adviser buys and sells securities for the fund through a value-oriented, bottom-up research process that incorporates a macroeconomic overlay to analyze investment opportunities. The sub-adviser uses fundamental credit analysis to identify favorable and unfavorable risk/reward opportunities across sectors, industries and structures while seeking to mitigate credit risk. The sub-adviser's fundamental analysis is complemented by its macroeconomic outlook as it relates to observed default trends, performance drivers and capital market liquidity. The sub-adviser seeks to mitigate credit risk through a disciplined approach to its credit investment selection and evaluation process.
Period | DFLAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.4% | -3.0% | 10.3% | 19.78% |
1 Yr | 11.2% | -3.9% | 15.3% | 8.58% |
3 Yr | 6.3%* | -6.0% | 8.1% | 7.81% |
5 Yr | 5.5%* | -6.2% | 38.2% | 10.66% |
10 Yr | 4.0%* | -2.0% | 19.7% | 30.98% |
* Annualized
Period | DFLAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.7% | -12.0% | 11.1% | 25.37% |
2022 | -6.4% | -22.9% | 5.1% | 27.59% |
2021 | 0.6% | -12.2% | 11.1% | 76.08% |
2020 | -2.2% | -14.1% | 289.8% | 37.96% |
2019 | 1.5% | -8.1% | 7.5% | 80.25% |
Period | DFLAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.4% | -3.0% | 10.3% | 19.78% |
1 Yr | 11.2% | -3.9% | 15.3% | 8.58% |
3 Yr | 6.3%* | -6.0% | 8.1% | 7.81% |
5 Yr | 5.5%* | -6.2% | 38.2% | 10.66% |
10 Yr | 4.0%* | -2.0% | 19.7% | 30.98% |
* Annualized
Period | DFLAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.0% | -12.0% | 22.1% | 33.21% |
2022 | -1.5% | -22.9% | 5.1% | 26.44% |
2021 | 4.6% | -10.2% | 11.1% | 59.22% |
2020 | 2.3% | -14.1% | 306.9% | 35.92% |
2019 | 6.9% | -3.6% | 10.5% | 68.07% |
DFLAX | Category Low | Category High | DFLAX % Rank | |
---|---|---|---|---|
Net Assets | 817 M | 29.9 M | 13.5 B | 44.27% |
Number of Holdings | 338 | 2 | 1977 | 54.23% |
Net Assets in Top 10 | 84.7 M | -191 M | 2.37 B | 55.77% |
Weighting of Top 10 | 10.27% | 5.2% | 100.7% | 80.31% |
Weighting | Return Low | Return High | DFLAX % Rank | |
---|---|---|---|---|
Bonds | 96.34% | 0.00% | 161.82% | 35.77% |
Cash | 8.09% | -61.90% | 16.36% | 18.46% |
Stocks | 2.40% | 0.00% | 100.74% | 34.62% |
Preferred Stocks | 0.00% | -3.99% | 7.30% | 38.85% |
Convertible Bonds | 0.00% | 0.00% | 5.51% | 50.39% |
Other | -7.72% | -52.39% | 34.87% | 99.23% |
Weighting | Return Low | Return High | DFLAX % Rank | |
---|---|---|---|---|
Consumer Defense | 100.00% | 0.00% | 100.00% | 2.61% |
Utilities | 0.00% | 0.00% | 100.00% | 26.09% |
Technology | 0.00% | 0.00% | 100.00% | 26.96% |
Real Estate | 0.00% | 0.00% | 48.61% | 13.04% |
Industrials | 0.00% | 0.00% | 100.00% | 45.22% |
Healthcare | 0.00% | 0.00% | 100.00% | 13.04% |
Financial Services | 0.00% | 0.00% | 89.61% | 13.04% |
Energy | 0.00% | 0.00% | 100.00% | 59.13% |
Communication Services | 0.00% | 0.00% | 100.00% | 59.13% |
Consumer Cyclical | 0.00% | 0.00% | 97.66% | 40.00% |
Basic Materials | 0.00% | 0.00% | 1.36% | 11.30% |
Weighting | Return Low | Return High | DFLAX % Rank | |
---|---|---|---|---|
US | 2.40% | -0.01% | 100.74% | 34.62% |
Non US | 0.00% | 0.00% | 0.68% | 26.54% |
Weighting | Return Low | Return High | DFLAX % Rank | |
---|---|---|---|---|
Corporate | 84.36% | 0.00% | 99.80% | 81.01% |
Cash & Equivalents | 3.84% | 0.00% | 25.03% | 42.31% |
Securitized | 2.52% | 0.00% | 91.68% | 22.09% |
Government | 0.01% | 0.00% | 3.18% | 22.87% |
Municipal | 0.00% | 0.00% | 0.47% | 15.12% |
Derivative | -7.72% | -10.96% | 0.85% | 99.23% |
Weighting | Return Low | Return High | DFLAX % Rank | |
---|---|---|---|---|
US | 88.36% | 0.00% | 123.41% | 67.69% |
Non US | 7.98% | 0.00% | 63.23% | 25.77% |
DFLAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.04% | 0.03% | 5.51% | 56.93% |
Management Fee | 0.65% | 0.00% | 1.89% | 53.93% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.02% | 0.27% | N/A |
DFLAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 2.50% | 1.00% | 5.75% | 66.67% |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
DFLAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
DFLAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 81.57% | 4.00% | 180.00% | 71.43% |
DFLAX | Category Low | Category High | DFLAX % Rank | |
---|---|---|---|---|
Dividend Yield | 8.50% | 0.00% | 11.13% | 23.88% |
DFLAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
DFLAX | Category Low | Category High | DFLAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.01% | 1.77% | 9.82% | 25.78% |
DFLAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Oct 01, 2024 | $0.079 | OrdinaryDividend |
Sep 03, 2024 | $0.083 | OrdinaryDividend |
Aug 01, 2024 | $0.081 | OrdinaryDividend |
Jun 03, 2024 | $0.083 | OrdinaryDividend |
May 01, 2024 | $0.083 | OrdinaryDividend |
Apr 01, 2024 | $0.080 | OrdinaryDividend |
Mar 01, 2024 | $0.080 | OrdinaryDividend |
Feb 01, 2024 | $0.081 | OrdinaryDividend |
Dec 20, 2023 | $0.112 | OrdinaryDividend |
Dec 01, 2023 | $0.082 | OrdinaryDividend |
Nov 01, 2023 | $0.082 | OrdinaryDividend |
Oct 02, 2023 | $0.079 | OrdinaryDividend |
Sep 01, 2023 | $0.084 | OrdinaryDividend |
Aug 01, 2023 | $0.082 | OrdinaryDividend |
Jul 03, 2023 | $0.080 | OrdinaryDividend |
Jun 01, 2023 | $0.079 | OrdinaryDividend |
May 01, 2023 | $0.071 | OrdinaryDividend |
Apr 03, 2023 | $0.068 | OrdinaryDividend |
Mar 01, 2023 | $0.062 | OrdinaryDividend |
Feb 01, 2023 | $0.058 | OrdinaryDividend |
Dec 21, 2022 | $0.117 | OrdinaryDividend |
Dec 01, 2022 | $0.057 | OrdinaryDividend |
Nov 01, 2022 | $0.053 | OrdinaryDividend |
Oct 03, 2022 | $0.050 | OrdinaryDividend |
Sep 01, 2022 | $0.047 | OrdinaryDividend |
Aug 01, 2022 | $0.035 | OrdinaryDividend |
Jul 01, 2022 | $0.033 | OrdinaryDividend |
Jun 01, 2022 | $0.032 | OrdinaryDividend |
May 02, 2022 | $0.032 | OrdinaryDividend |
Apr 01, 2022 | $0.032 | OrdinaryDividend |
Mar 01, 2022 | $0.031 | OrdinaryDividend |
Feb 01, 2022 | $0.035 | OrdinaryDividend |
Dec 21, 2021 | $0.064 | OrdinaryDividend |
Dec 01, 2021 | $0.035 | OrdinaryDividend |
Nov 01, 2021 | $0.035 | OrdinaryDividend |
Oct 01, 2021 | $0.036 | OrdinaryDividend |
Sep 01, 2021 | $0.038 | OrdinaryDividend |
Aug 02, 2021 | $0.037 | OrdinaryDividend |
Jul 01, 2021 | $0.036 | OrdinaryDividend |
Jun 01, 2021 | $0.034 | OrdinaryDividend |
May 03, 2021 | $0.033 | OrdinaryDividend |
Apr 01, 2021 | $0.032 | OrdinaryDividend |
Mar 01, 2021 | $0.030 | OrdinaryDividend |
Feb 01, 2021 | $0.031 | OrdinaryDividend |
Dec 22, 2020 | $0.062 | OrdinaryDividend |
Dec 01, 2020 | $0.039 | OrdinaryDividend |
Nov 02, 2020 | $0.036 | OrdinaryDividend |
Oct 01, 2020 | $0.037 | OrdinaryDividend |
Sep 01, 2020 | $0.040 | OrdinaryDividend |
Aug 03, 2020 | $0.037 | OrdinaryDividend |
Jul 01, 2020 | $0.035 | OrdinaryDividend |
Jun 01, 2020 | $0.036 | OrdinaryDividend |
May 01, 2020 | $0.033 | OrdinaryDividend |
Apr 01, 2020 | $0.050 | OrdinaryDividend |
Mar 02, 2020 | $0.043 | OrdinaryDividend |
Feb 03, 2020 | $0.047 | OrdinaryDividend |
Dec 23, 2019 | $0.068 | OrdinaryDividend |
Dec 02, 2019 | $0.047 | OrdinaryDividend |
Nov 01, 2019 | $0.049 | OrdinaryDividend |
Oct 01, 2019 | $0.050 | OrdinaryDividend |
Sep 03, 2019 | $0.053 | OrdinaryDividend |
Aug 01, 2019 | $0.053 | OrdinaryDividend |
Jul 01, 2019 | $0.050 | OrdinaryDividend |
Jun 03, 2019 | $0.046 | OrdinaryDividend |
May 01, 2019 | $0.048 | OrdinaryDividend |
Apr 01, 2019 | $0.044 | OrdinaryDividend |
Mar 01, 2019 | $0.048 | OrdinaryDividend |
Feb 01, 2019 | $0.047 | OrdinaryDividend |
Dec 21, 2018 | $0.099 | OrdinaryDividend |
Dec 03, 2018 | $0.047 | OrdinaryDividend |
Nov 01, 2018 | $0.046 | OrdinaryDividend |
Sep 04, 2018 | $0.043 | OrdinaryDividend |
Aug 01, 2018 | $0.044 | OrdinaryDividend |
Jul 02, 2018 | $0.044 | OrdinaryDividend |
Jun 01, 2018 | $0.041 | OrdinaryDividend |
May 01, 2018 | $0.040 | OrdinaryDividend |
Apr 02, 2018 | $0.040 | OrdinaryDividend |
Mar 01, 2018 | $0.038 | OrdinaryDividend |
Feb 01, 2018 | $0.036 | OrdinaryDividend |
Dec 26, 2017 | $0.045 | OrdinaryDividend |
Dec 01, 2017 | $0.036 | OrdinaryDividend |
Nov 01, 2017 | $0.036 | OrdinaryDividend |
Oct 02, 2017 | $0.021 | OrdinaryDividend |
Sep 01, 2017 | $0.041 | OrdinaryDividend |
Aug 01, 2017 | $0.037 | OrdinaryDividend |
Jul 03, 2017 | $0.036 | OrdinaryDividend |
Jun 01, 2017 | $0.036 | OrdinaryDividend |
May 01, 2017 | $0.033 | OrdinaryDividend |
Apr 03, 2017 | $0.035 | OrdinaryDividend |
Mar 01, 2017 | $0.031 | OrdinaryDividend |
Feb 01, 2017 | $0.030 | OrdinaryDividend |
Dec 27, 2016 | $0.038 | OrdinaryDividend |
Dec 01, 2016 | $0.035 | OrdinaryDividend |
Nov 01, 2016 | $0.038 | OrdinaryDividend |
Oct 03, 2016 | $0.036 | OrdinaryDividend |
Sep 01, 2016 | $0.037 | OrdinaryDividend |
Aug 01, 2016 | $0.037 | OrdinaryDividend |
Jul 01, 2016 | $0.038 | OrdinaryDividend |
Jun 01, 2016 | $0.039 | OrdinaryDividend |
May 02, 2016 | $0.040 | OrdinaryDividend |
Apr 01, 2016 | $0.040 | OrdinaryDividend |
Mar 01, 2016 | $0.038 | OrdinaryDividend |
Feb 01, 2016 | $0.040 | OrdinaryDividend |
Dec 28, 2015 | $0.051 | OrdinaryDividend |
Dec 01, 2015 | $0.040 | OrdinaryDividend |
Nov 02, 2015 | $0.041 | OrdinaryDividend |
Oct 01, 2015 | $0.041 | OrdinaryDividend |
Sep 01, 2015 | $0.042 | OrdinaryDividend |
Aug 03, 2015 | $0.043 | OrdinaryDividend |
Jul 01, 2015 | $0.044 | OrdinaryDividend |
Jun 01, 2015 | $0.042 | OrdinaryDividend |
May 01, 2015 | $0.040 | OrdinaryDividend |
Apr 01, 2015 | $0.040 | OrdinaryDividend |
Mar 02, 2015 | $0.039 | OrdinaryDividend |
Feb 02, 2015 | $0.041 | OrdinaryDividend |
Dec 26, 2014 | $0.016 | CapitalGainLongTerm |
Dec 26, 2014 | $0.043 | OrdinaryDividend |
Dec 01, 2014 | $0.037 | OrdinaryDividend |
Nov 03, 2014 | $0.039 | OrdinaryDividend |
Oct 01, 2014 | $0.037 | OrdinaryDividend |
Sep 02, 2014 | $0.037 | OrdinaryDividend |
Aug 01, 2014 | $0.034 | OrdinaryDividend |
Jul 01, 2014 | $0.036 | OrdinaryDividend |
Jun 02, 2014 | $0.035 | OrdinaryDividend |
May 01, 2014 | $0.033 | OrdinaryDividend |
Apr 01, 2014 | $0.029 | OrdinaryDividend |
Mar 03, 2014 | $0.029 | OrdinaryDividend |
Feb 03, 2014 | $0.029 | OrdinaryDividend |
Dec 31, 2013 | $0.030 | OrdinaryDividend |
Dec 02, 2013 | $0.023 | OrdinaryDividend |
Nov 01, 2013 | $0.012 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Sep 27, 2013
8.68
8.7%
Chris Barris, Kevin Cronk, CFA, and Leland Hart are the fund's primary portfolio managers, positions they have held since October 2010, September 2012 and February 2018, respectively. Messrs. Mr. Barris has been employed by BNYM Investment Adviser since July 2007 and is Global Head of High Yield and Deputy Chief Investment Officer at Alcentra, which he joined in January 2013. Mr. Cronk has been employed by BNYM Investment Adviser since July 2012 and is a Managing Director and Head of U.S. Credit at Alcentra, which he joined in January 2013. Mr. Hart has been employed by BNYM Investment Adviser since February 2018 and is a Managing Director and Head of U.S. Loans and High Yield at Alcentra, which he joined in January 2018. Prior to joining Alcentra, Mr. Hart was a managing director for BlackRock Asset Management, where he was employed since 2009. Messrs. Barris, Cronk and Hart manage the fund in their capacity as employees of BNYM Investment Adviser.
Start Date
Tenure
Tenure Rank
May 24, 2017
5.02
5.0%
Mr. Cronk joined Alcentra in January 2013 as part of the combination of Alcentra with Standish Mellon Asset Management Company LLC’s high yield business, and is the Head of U.S. Credit Research and a member of the U.S. Investment Committee. Mr. Cronk joined Standish Mellon Asset Management Company LLC, an affiliate of BNYM Investment Adviser and Alcentra, in 2011 from Columbia Management, where he worked for eleven years as a High Yield Analyst and Portfolio Manager. Prior to that, he worked as a High Yield Investment Associate at Putnam Investments.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 21.18 | 6.06 | 3.25 |
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