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Trending ETFs

Touchstone Flexible Income Fund

mutual fund
FRACX
Payout Change
Pending
Price as of:
$10.3 -0.02 -0.19%
primary theme
Bond Sector Diversified
FRACX (Mutual Fund)

Touchstone Flexible Income Fund

Payout Change
Pending
Price as of:
$10.3 -0.02 -0.19%
primary theme
Bond Sector Diversified
FRACX (Mutual Fund)

Touchstone Flexible Income Fund

Payout Change
Pending
Price as of:
$10.3 -0.02 -0.19%
primary theme
Bond Sector Diversified

Name

As of 10/03/2024

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

$10.30

$1.3 B

2.19%

$0.23

2.01%

Vitals

YTD Return

5.3%

1 yr return

10.7%

3 Yr Avg Return

0.7%

5 Yr Avg Return

2.5%

Net Assets

$1.3 B

Holdings in Top 10

31.5%

52 WEEK LOW AND HIGH

$10.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.01%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 61.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/03/2024

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

$10.30

$1.3 B

2.19%

$0.23

2.01%

FRACX - Profile

Distributions

  • YTD Total Return 5.3%
  • 3 Yr Annualized Total Return 0.7%
  • 5 Yr Annualized Total Return 2.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.30%
DIVIDENDS
  • Dividend Yield 2.2%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Touchstone Flexible Income Fund
  • Fund Family Name
    Touchstone Funds
  • Inception Date
    Jun 28, 2012
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Art DeGaetano

Fund Description

Under normal circumstances, the Fund invests at least 80% of its assets in income-producing securities such as investment grade corporate bonds, high yield bonds (i.e., junk bonds), preferred stocks, municipal bonds, and U.S. Treasuries. The Fund’s 80% policy is a non-fundamental investment policy that can be changed by the Fund upon 60 days’ prior written notice to shareholders.The Fund’s sub-adviser, Bramshill Investments LLC (“Bramshill” or the “Sub-Adviser”), implements a tactical fixed-income strategy, actively managing the portfolio by rotating among asset classes and tactically hedging during various interest rate and market environments. Bramshill seeks to identify relative value across asset classes and capture opportunities primarily within the corporate, U.S. Treasury, municipal and preferred security markets. The Fund focuses on liquid securities with transparent pricing and actively-traded capital structures.Bramshill seeks to maintain the Fund’s portfolio at an average credit rating of investment grade, but may invest up to 40% of Fund assets in high yield bonds (i.e., junk bonds), which are defined as debt securities rated below Baa by Moody’s Investors Service, Inc. (“Moody’s”), or equivalently rated by S&P Global Ratings (“S&P”) or Fitch, Inc. (“Fitch”), or, if unrated, determined by the Adviser to be of comparable quality. The Fund may also invest up to 25% of Fund assets in fixed income exchange-traded funds (“ETFs”) and foreign issuers of U.S. dollar denominated fixed income securities.The Fund may invest in fixed-income securities of any duration or maturity. The Fund may also invest in fixed income closed-end funds, dividend-paying equities and other debt securities, including but not limited to U.S. government securities, variable- and floating-rate instruments, and mortgage- and asset-backed securities. Bramshill periodically shifts the portfolio’s duration opportunistically seeking to generate alpha in both falling and rising interest rate environments. In order to hedge certain risks, the Fund may invest in futures contracts, which are a type of derivative instrument.The Fund may engage in frequent and active trading as part of its principal investment strategies.
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FRACX - Performance

Return Ranking - Trailing

Period FRACX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.3% -7.8% 15.4% 71.36%
1 Yr 10.7% -5.0% 31.2% 72.89%
3 Yr 0.7%* -16.8% 17.0% 64.31%
5 Yr 2.5%* -13.9% 14.3% 50.18%
10 Yr 2.8%* -6.8% 7.0% 47.63%

* Annualized

Return Ranking - Calendar

Period FRACX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -12.0% 15.7% 29.20%
2022 -12.3% -31.8% 18.4% 42.79%
2021 -0.5% -16.2% 25.7% 29.01%
2020 3.1% -31.1% 18.7% 35.39%
2019 4.5% -6.1% 15.3% 52.09%

Total Return Ranking - Trailing

Period FRACX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.3% -7.8% 15.4% 71.36%
1 Yr 10.7% -5.0% 31.2% 72.89%
3 Yr 0.7%* -16.8% 17.0% 64.31%
5 Yr 2.5%* -13.9% 14.3% 50.18%
10 Yr 2.8%* -6.8% 7.0% 47.63%

* Annualized

Total Return Ranking - Calendar

Period FRACX Return Category Return Low Category Return High Rank in Category (%)
2023 7.0% -6.9% 22.2% 68.65%
2022 -9.0% -31.8% 21.1% 51.25%
2021 2.1% -13.5% 49.9% 52.35%
2020 7.1% -28.6% 24.1% 32.75%
2019 7.6% -4.8% 19.1% 62.74%

NAV & Total Return History


FRACX - Holdings

Concentration Analysis

FRACX Category Low Category High FRACX % Rank
Net Assets 1.3 B 2.53 M 143 B 37.17%
Number of Holdings 265 4 9195 68.06%
Net Assets in Top 10 447 M -204 M 80.4 B 36.27%
Weighting of Top 10 31.47% 6.2% 209.5% 40.90%

Top 10 Holdings

  1. Dreyfus Government Cash Management Funds SH BEN INT 7.87%
  2. T 4.125 08/15/53 7.63%
  3. iShare Trust 0-5YR HIGH YEILD CORP BD ET 3.12%
  4. WFC V2.164 02/11/26 MTN 2.24%
  5. SRE V4.875 PERP 2.05%
  6. BPLN V4.875 PERP 1.97%
  7. JPM V2.595 02/24/26 1.69%
  8. BAC V0.981 09/25/25 MTN 1.65%
  9. SCHW V5.375 PERP G 1.64%
  10. WFC V2.406 10/30/25 MTN 1.60%

Asset Allocation

Weighting Return Low Return High FRACX % Rank
Bonds
46.28% 0.00% 192.97% 86.42%
Other
36.60% -73.61% 112.16% 5.56%
Cash
9.75% -94.66% 91.07% 20.52%
Preferred Stocks
4.25% 0.00% 26.42% 4.32%
Stocks
3.12% -4.92% 99.66% 24.38%
Convertible Bonds
0.19% 0.00% 33.50% 75.28%

Stock Sector Breakdown

Weighting Return Low Return High FRACX % Rank
Technology
25.18% 0.00% 28.30% 4.56%
Healthcare
13.46% 0.00% 18.60% 7.69%
Financial Services
13.01% 0.00% 100.00% 35.61%
Consumer Cyclical
11.80% 0.00% 89.95% 11.11%
Communication Services
9.34% 0.00% 100.00% 21.37%
Industrials
8.01% 0.00% 100.00% 29.34%
Consumer Defense
6.41% 0.00% 99.97% 20.23%
Energy
4.58% 0.00% 100.00% 58.97%
Utilities
2.90% 0.00% 100.00% 26.50%
Real Estate
2.90% 0.00% 100.00% 33.33%
Basic Materials
2.40% 0.00% 100.00% 26.21%

Stock Geographic Breakdown

Weighting Return Low Return High FRACX % Rank
US
3.12% -4.84% 99.66% 23.61%
Non US
0.00% -0.26% 17.73% 23.92%

Bond Sector Breakdown

Weighting Return Low Return High FRACX % Rank
Corporate
40.02% 0.00% 96.66% 42.99%
Securitized
38.04% 0.00% 99.65% 24.52%
Government
10.63% 0.00% 99.43% 52.55%
Cash & Equivalents
8.23% 0.00% 88.00% 22.76%
Municipal
4.22% 0.00% 54.26% 3.66%
Derivative
0.00% -73.61% 112.16% 55.11%

Bond Geographic Breakdown

Weighting Return Low Return High FRACX % Rank
US
46.28% 0.00% 192.97% 79.63%
Non US
0.00% 0.00% 74.14% 68.36%

FRACX - Expenses

Operational Fees

FRACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.01% 0.03% 20.67% 18.46%
Management Fee 0.55% 0.00% 2.29% 30.93%
12b-1 Fee 1.00% 0.00% 1.00% 78.29%
Administrative Fee 0.15% 0.00% 0.70% 58.69%

Sales Fees

FRACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load 1.00% 1.00% 1.50% 4.82%

Trading Fees

FRACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

FRACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 61.00% 0.00% 632.00% 35.01%

FRACX - Distributions

Dividend Yield Analysis

FRACX Category Low Category High FRACX % Rank
Dividend Yield 2.19% 0.00% 23.30% 89.45%

Dividend Distribution Analysis

FRACX Category Low Category High Category Mod
Dividend Distribution Frequency None SemiAnnual Monthly Monthly

Net Income Ratio Analysis

FRACX Category Low Category High FRACX % Rank
Net Income Ratio 2.30% -1.55% 11.51% 71.63%

Capital Gain Distribution Analysis

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

Distributions History

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FRACX - Fund Manager Analysis

Managers

Art DeGaetano


Start Date

Tenure

Tenure Rank

Nov 30, 2018

3.5

3.5%

Art DeGaetano is a Principal of Bramshill Investments. Before starting Bramshill in May of 2012, Mr. DeGaetano was a Senior Portfolio Manager at GLG Partners from 2007. Prior to GLG Partners, he traded at RBS Greenwich Capital where he was a Managing Director and Head of Credit Trading for two years. Prior to RBS, he traded for 12 years for Bear Stearns and was a Senior Managing Director and Head Trader on the high yield desk. Mr. DeGaetano has a B.A. from Colgate University. Mr. DeGaetano has been the primary portfolio manager for the Bramshill Income Performance strategy since its inception in April 2016.

Michael Hirschfield


Start Date

Tenure

Tenure Rank

Nov 30, 2018

3.5

3.5%

Mr. Hirschfield is a Portfolio Manager at Bramshill Investments focusing on credit and special situations. He is a member of the firm’s investment committee. Before joining Bramshill Investments in 2018, Mr. Hirschfield served over 9 years as Portfolio Manager for Man Group, the world’s largest publicly listed Hedge Fund. He ran the US Credit portfolio for their GLG Market Neutral Fund, a multi-strategy credit fund. Michael also worked alongside Bramshill founder, Art DeGaetano, during their tenures together at GLG Partners, helping to develop the predecessor to the Bramshill Income Performance Strategy in 2009. Prior to GLG Partners, Michael was Head Trader for Cedarview Capital, an event-driven credit hedge fund. Prior to the buy-side, Mr. Hirschfield worked as a sell-side bond trader for FTN Financial on their Investment Grade Corporate Bond desk. Michael became a CFA charter holder in 2007. He received his B.A. in Economics in 2003 from Yale University. Michael co-founded the Bulldogs Care Foundation, a 501c charitable foundation which raises funds to support student-athlete development programs for underprivileged youth in NYC. The foundation honors four Yale Bulldogs who passed away in a tragic car accident in 2003. Michael serves on the board and has helped to raise over $1.1mm its since inception in 2007.

Derek Pines


Start Date

Tenure

Tenure Rank

Nov 30, 2018

3.5

3.5%

Derek Pines is a Portfolio Manager and Analyst at Bramshill Investments. Prior to joining Bramshill Investments in 2012, Mr. Pines spent 10 years as a Proprietary Trader and Portfolio Manager specializing in quantitative strategies across a variety of asset classes, the bulk of that time with Assent (Sungard Financial) and most recently Chimera Securities. He also spent a year with Accenture in their Core Trading Services Group. Mr. Pines holds a Masters Graduate Certificate in Algorithmic Trading from Stevens University. Mr. Pines graduated cum laude with a B.S. in finance from Georgetown University.

Paul van Lingen


Start Date

Tenure

Tenure Rank

Nov 30, 2018

3.5

3.5%

Mr. van Lingen is a Senior Managing Director and Portfolio Manager at Bramshill Investments specializing in Mortgage Backed Securities and all Structured Products. He is a member of the firm’s investment committee. Prior to joining Bramshill Investments in 2017, Mr. van Lingen was a Managing Director, Principal, and Portfolio Manager at Rimrock Capital Management, a west coast Hedge Fund. He served as Head of All Structured Products managing approximately 4 billion dollars in capital. Prior to that Mr. van Lingen was a Managing Director at RBS Greenwich Capital where he managed day to day trading activities overseeing several employees as well as worked with private and government agencies to help restore residential securitization markets. He served as Head of Non-Agency MBS Trading managing approximately four billion dollars in capital. Prior to RBS Greenwich, Mr. van Lingen was a Senior Managing Director at Bear Stearns where he oversaw one of the largest trading and issuance platforms overseeing many employees. He served as Head of Agency and Non-Agency ARM Trading managing over twenty billion dollars of capital. Prior to Bear Stearns, Mr. van Lingen served in various roles in managing, consulting, modeling and technology for all aspects of the securitization business at Bankers Trust, Bank of New York, and PriceWaterhouseCoopers. Mr. van Lingen has a B.S. from New York University, Stern School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19