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Trending ETFs

Guggenheim Floating Rate Strategies Fund

mutual fund
GIFSX
Payout Change
Pending
Price as of:
$24.3 +0.0 +0.0%
primary theme
Bank Loan
GIFSX (Mutual Fund)

Guggenheim Floating Rate Strategies Fund

Payout Change
Pending
Price as of:
$24.3 +0.0 +0.0%
primary theme
Bank Loan
GIFSX (Mutual Fund)

Guggenheim Floating Rate Strategies Fund

Payout Change
Pending
Price as of:
$24.3 +0.0 +0.0%
primary theme
Bank Loan

Name

As of 12/09/2024

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

$24.30

$998 M

7.60%

$1.85

0.80%

Vitals

YTD Return

7.1%

1 yr return

7.8%

3 Yr Avg Return

6.1%

5 Yr Avg Return

5.1%

Net Assets

$998 M

Holdings in Top 10

13.1%

52 WEEK LOW AND HIGH

$24.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.80%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 57.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/09/2024

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

$24.30

$998 M

7.60%

$1.85

0.80%

GIFSX - Profile

Distributions

  • YTD Total Return 7.1%
  • 3 Yr Annualized Total Return 6.1%
  • 5 Yr Annualized Total Return 5.1%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.66%
DIVIDENDS
  • Dividend Yield 7.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Guggenheim Floating Rate Strategies Fund
  • Fund Family Name
    Guggenheim
  • Inception Date
    Mar 13, 2019
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    B. Scott Minerd

Fund Description

The Fund will, under normal circumstances, invest at least 80% of its assets (net assets, plus the amount of any borrowings for investment purposes) in floating rate senior secured syndicated bank loans, floating rate revolving credit facilities (“revolvers”), floating rate unsecured loans, floating rate asset backed securities (including floating rate collateralized loan obligations (“CLOs”)), other floating rate bonds, loans, notes and other securities (which may include, principally, senior secured, senior unsecured and subordinated bonds), fixed income instruments with respect to which the Fund has entered into derivative instruments to effectively convert the fixed rate interest payments into floating rate income payments, and derivative instruments (based on their notional value for purposes of this 80% strategy) that provide exposure (i.e., economic characteristics similar) to floating rate or variable rate loans, obligations or other securities. The loans in which the Fund will invest, generally made by banks and other lending institutions, are made to (or issued by) corporations, partnerships and other business entities. Floating rate loans feature rates that reset regularly, maintaining a fixed spread over a reference rate, such as the Secured Overnight Financing Rate ("SOFR"), other references rates derived from SOFR or the prime rates of large money-center banks. The interest rates for floating rate loans typically reset quarterly, although rates on some loans may adjust at other intervals.The Fund invests in other fixed-income instruments of various maturities which may be represented by bonds, debt securities, commercial paper, forwards, derivatives or other similar instruments that Guggenheim Partners Investment Management, LLC, also known as Guggenheim Investments (the “Investment Manager”), believes provide the potential to deliver a high level of current income. Securities in which the Fund invests also may include corporate bonds, convertible securities (including those that are deemed to be “busted” because they are trading well below their equity conversion value), agency and non-agency mortgage-backed securities, asset-backed securities (including collateralized mortgage-backed securities) and CLOs. The Fund may invest in a variety of investment vehicles, such as closed-end funds, exchange-traded funds (“ETFs”) and other mutual funds.The Fund may hold securities of any quality, rated or unrated, including those that are rated below investment grade, or, if unrated, determined by the Investment Manager to be of quality comparable to below investment grade securities (also known as “high yield securities” or “junk bonds”) or any other quality. The Fund may hold below investment grade securities with no limit. The Fund may hold non-registered or restricted securities (consisting of securities originally issued in reliance on Rule 144A and Regulation S securities). The Fund may also invest in securities of real estate investment trusts (“REITs”) and other real estate companies.The Fund will principally invest in U.S. dollar denominated loans and other securities of U.S. companies, but may also invest in securities of non-U.S. companies, non-U.S. dollar denominated loans and securities (including, but not limited to, denominated in Euros, British pounds, Swiss francs or Canadian dollars), including loans and securities of emerging market countries, sovereign debt securities and Eurodollar bonds and obligations. The Investment Manager may attempt to reduce foreign currency exchange rate risk by entering into contracts with banks, brokers or dealers to purchase or sell securities or foreign currencies at a future date (“forward contracts”).The Fund also may seek exposures through derivative transactions, including: foreign exchange forward contracts; futures on securities, indices, currencies and other investments; Eurodollar futures; options; interest rate swaps; cross-currency swaps; total return swaps; and credit default swaps, which may also create economic leverage in the Fund. The Fund may engage in derivative transactions for speculative purposes to enhance total return, to seek to hedge against fluctuations in securities prices, interest rates or currency rates, to change the effective duration of its portfolio, to manage certain investment risks, as a substitute for the purchase or sale of securities or currencies and/or to obtain or replicate market exposure. The Fund may use leverage to the extent permitted by applicable law by entering into reverse repurchase agreements and transactions equivalent to a borrowing for investment purposes.The Fund also may engage, to the full extent permitted by applicable law, in repurchase agreements, forward commitments, short sales and securities lending. The Fund may, without limitation, seek to obtain exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as dollar rolls).The Investment Manager’s investment philosophy is predicated upon the belief that thorough research and independent thought are rewarded with performance that has the potential to outperform benchmark indexes with both lower volatility and lower correlation of returns as compared to such benchmark indexes.The Investment Manager may determine to sell a security for several reasons, including but not limited to the following: (1) to adjust the portfolio’s average maturity or duration, or to shift assets into or out of higher-yielding securities; (2) if a security’s credit rating has been changed, the Investment Manager's credit outlook has changed, or for other similar reasons; (3) to meet redemption requests; (4) to take gains; or (5) due to relative value. Under certain circumstances, the Fund may invest in securities that are in default at the time of purchase. If a security defaults subsequent to purchase by the Fund, the Investment Manager will determine in its discretion whether to hold or dispose of such security. Under adverse or unstable market conditions or abnormal circumstances (for example, in the event of credit events, where it is deemed opportune to preserve gains, or to preserve the relative value of investments or in the case of large cash inflows or anticipated large redemptions), the Fund can make temporary investments and may not be able to pursue or achieve its investment objective.
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GIFSX - Performance

Return Ranking - Trailing

Period GIFSX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.1% -3.7% 11.0% 88.68%
1 Yr 7.8% -3.2% 13.1% 90.57%
3 Yr 6.1%* -6.8% 8.2% 32.81%
5 Yr 5.1%* -6.2% 38.3% 31.12%
10 Yr N/A* -2.0% 19.9% 14.90%

* Annualized

Return Ranking - Calendar

Period GIFSX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -12.0% 11.1% 21.13%
2022 -5.5% -22.9% 5.1% 12.02%
2021 1.5% -12.2% 11.1% 27.78%
2020 -2.5% -14.1% 289.8% 47.93%
2019 N/A -8.1% 7.5% N/A

Total Return Ranking - Trailing

Period GIFSX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.1% -3.7% 11.0% 88.68%
1 Yr 7.8% -3.2% 13.1% 90.57%
3 Yr 6.1%* -6.8% 8.2% 32.81%
5 Yr 5.1%* -6.2% 38.3% 31.12%
10 Yr N/A* -2.0% 19.9% 15.31%

* Annualized

Total Return Ranking - Calendar

Period GIFSX Return Category Return Low Category Return High Rank in Category (%)
2023 13.0% -12.0% 22.1% 32.83%
2022 -0.5% -22.9% 5.1% 9.69%
2021 5.9% -10.2% 11.1% 23.81%
2020 2.1% -14.1% 306.9% 38.43%
2019 N/A -3.6% 10.5% N/A

NAV & Total Return History


GIFSX - Holdings

Concentration Analysis

GIFSX Category Low Category High GIFSX % Rank
Net Assets 998 M 29.9 M 13.5 B 38.61%
Number of Holdings 337 2 2051 52.92%
Net Assets in Top 10 123 M -191 M 2.37 B 41.25%
Weighting of Top 10 13.05% 5.2% 100.7% 58.59%

Top 10 Holdings

  1. Federated Hermes U.S. Treasury Cash Reserves Fund - Institutional Shares 3.51%
  2. SPDR Blackstone Senior Loan ETF 2.66%
  3. Arcline FM Holdings, LLC 0.99%
  4. American Bath Group LLC 0.91%
  5. CoreLogic, Inc. 0.88%
  6. CTEC III GmbH 0.88%
  7. Pelican Products, Inc. 0.86%
  8. Virgin Media Bristol LLC 0.80%
  9. Hayward Industries, Inc. 0.80%
  10. Da Vinci Purchaser Corp. 0.76%

Asset Allocation

Weighting Return Low Return High GIFSX % Rank
Bonds
95.44% 0.00% 161.82% 49.03%
Cash
3.51% -61.90% 16.36% 40.86%
Stocks
3.09% 0.00% 100.74% 25.29%
Convertible Bonds
0.03% 0.00% 5.51% 45.10%
Other
0.01% -52.39% 26.58% 48.25%
Preferred Stocks
0.00% -3.99% 7.54% 92.22%

Stock Sector Breakdown

Weighting Return Low Return High GIFSX % Rank
Utilities
0.00% 0.00% 100.00% 90.48%
Technology
0.00% 0.00% 100.00% 92.59%
Real Estate
0.00% 0.00% 48.61% 90.48%
Industrials
0.00% 0.00% 100.00% 91.01%
Healthcare
0.00% 0.00% 100.00% 91.01%
Financial Services
0.00% 0.00% 89.61% 90.48%
Energy
0.00% 0.00% 100.00% 7.41%
Communication Services
0.00% 0.00% 100.00% 97.35%
Consumer Defense
0.00% 0.00% 100.00% 90.48%
Consumer Cyclical
0.00% 0.00% 97.66% 91.53%
Basic Materials
0.00% 0.00% 1.36% 91.01%

Stock Geographic Breakdown

Weighting Return Low Return High GIFSX % Rank
US
3.09% -0.01% 100.74% 25.29%
Non US
0.00% 0.00% 0.68% 91.83%

Bond Sector Breakdown

Weighting Return Low Return High GIFSX % Rank
Corporate
84.41% 0.00% 99.80% 77.65%
Cash & Equivalents
3.51% 0.00% 25.03% 39.69%
Securitized
1.33% 0.00% 91.68% 28.24%
Government
0.21% 0.00% 3.18% 5.10%
Municipal
0.00% 0.00% 0.47% 86.27%
Derivative
-0.01% -11.46% 0.67% 89.88%

Bond Geographic Breakdown

Weighting Return Low Return High GIFSX % Rank
US
93.83% 0.00% 124.50% 38.13%
Non US
1.61% 0.00% 63.23% 39.69%

GIFSX - Expenses

Operational Fees

GIFSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.80% 0.03% 5.51% 77.27%
Management Fee 0.65% 0.00% 1.89% 68.56%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.08% 0.02% 0.27% 32.22%

Sales Fees

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

Trading Fees

GIFSX 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.

GIFSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 57.00% 4.00% 180.00% 45.45%

GIFSX - Distributions

Dividend Yield Analysis

GIFSX Category Low Category High GIFSX % Rank
Dividend Yield 7.60% 0.00% 11.13% 93.21%

Dividend Distribution Analysis

GIFSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

GIFSX Category Low Category High GIFSX % Rank
Net Income Ratio 3.66% 1.77% 9.82% 45.85%

Capital Gain Distribution Analysis

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

Distributions History

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GIFSX - Fund Manager Analysis

Managers

B. Scott Minerd


Start Date

Tenure

Tenure Rank

Nov 30, 2011

10.51

10.5%

B. Scott Minerd, Chairman, Global Chief Investment Officer, Managing Partner and Portfolio Manager of Guggenheim Partners. Mr. Minerd joined Guggenheim Partners (or its affiliate or predecessor) in May 1998. Mr. Minerd leads Guggenheim Partners' research on global macroeconomics and guides the firm’s investment strategies.Previously, Mr. Minerd was a Managing Director with Credit Suisse First Boston in charge of trading and risk management for the Fixed Income Credit Trading Group. In this position, he was responsible for the corporate bond, preferred stock, money markets, U.S. government agency and sovereign debt, derivatives securities, structured debt and interest rate swaps trading business units. Prior to that, Mr. Minerd was Morgan Stanley’s London based European Capital Markets Products Trading and Risk Manager responsible for Eurobonds, Euro-MTNs, domestic European Bonds, FRNs, derivative securities and money market products in 12 European currencies and Asian markets. Mr. Minerd has also held capital markets positions with Merrill Lynch and Continental Bank. Prior to that, he was a Certified Public Accountant and worked for the public accounting firm of Price Waterhouse. Mr. Minerd is a member of the Federal Reserve Bank of New York’s Investor Advisory Committee on Financial Markets, helping advise the NY Fed President and senior management at the bank about the current financial markets and ways the public and private sectors can better understand and mitigate systematic risks. Mr. Minerd also works with the Organization for Economic Cooperation and Development (OECD), advising on research and analysis of private sector infrastructure investment, and is a contributing member of the World Economic Forum (WEF). He is a regularly featured guest and contributor to leading financial media outlets, including The Wall Street Journal, The Financial Times, Bloomberg, and CNBC, where he shares insights on today’s financial climate. Mr. Minerd holds a B.S. degree in Economics from the Wharton School, University of Pennsylvania, Philadelphia, and has completed graduate work at the University of Chicago Graduate School of Business and the Wharton School, University of Pennsylvania.

Anne Walsh


Start Date

Tenure

Tenure Rank

Nov 30, 2011

10.51

10.5%

Anne B. Walsh, Chief Investment Officer, Fixed Income, Senior Managing Director and Portfolio Manager of Guggenheim Partners. Ms. Walsh joined Guggenheim Partners (or its affiliate or predecessor) in 2007 is also the head of the Portfolio Construction Group and Portfolio Management. She oversees more than $185 billion in fixed-income investments including Agencies, Credit, Municipals, and Structured Securities. She is responsible for portfolio design, strategy, sector allocation and risk management, as well as conveying Guggenheim Partners' macroeconomic outlook to Portfolio Managers and fixed income Sector Specialists. Ms. Walsh specializes in liability-driven portfolio management. Prior to joining Guggenheim Partners, she served as Chief Investment Officer at Reinsurance Group of America, and also held roles at Zurich Scudder Investments, Lincoln Investment Management and American Bankers Insurance Group. She has earned the right to use the Chartered Financial Analyst® designation and is a member of the CFA Institute. Ms. Walsh received her BSBA and MBA from Auburn University and her J.D. from the University of Miami School of Law.

Thomas Hauser


Start Date

Tenure

Tenure Rank

Nov 17, 2014

7.54

7.5%

Thomas J. Hauser, Senior Managing Director and Portfolio Manager of Guggenheim Partners. He has co-managed Series F since November 2014 and Series P since January 2017. Mr. Hauser joined Guggenheim Partners (or its affiliate or predecessor) in 2002 and is a member of Guggenheim’s Corporate Credit Group. He is also a member of the Investment Committee overseeing Guggenheim’s corporate credit investing activities. Prior to his role as a portfolio manager, Mr. Hauser ran a team with Joseph McCurdy covering a variety of sectors including Technology, Media and Telecom, Education, Metals and Mining, Homebuilding, Healthcare, and Energy and Power. He has over 10 years' experience in the high yield and leverage loan class. During his career at the firm, Mr. Hauser has been an analyst covering a variety of sectors, including the Energy, Power, Transportation and Chemical sectors. Mr. Hauser received his B.S. in Finance from St. Johns University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 21.18 6.08 3.25