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Victory High Yield Fund
GUHYX (Mutual Fund)
Victory High Yield Fund
Name
As of 12/10/2024Price
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
Vitals
YTD Return
9.4%
1 yr return
12.3%
3 Yr Avg Return
0.6%
5 Yr Avg Return
2.9%
Net Assets
$185 M
Holdings in Top 10
29.1%
52 WEEK LOW AND HIGH
$5.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.09%
SALES FEES
Front Load 2.25%
Deferred Load N/A
TRADING FEES
Turnover 67.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
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
GUHYX - Profile
Distributions
- YTD Total Return 9.4%
- 3 Yr Annualized Total Return 0.6%
- 5 Yr Annualized Total Return 2.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 5.22%
- Dividend Yield 7.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVictory High Yield Fund
-
Fund Family NameVictory Portfolios
-
Inception DateAug 02, 2016
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Blaney
Fund Description
The Fund invests, under normal circumstances, at least 80% of its assets in debt securities and other investments that, at the time of purchase, are rated below investment grade. An investment will be considered to be rated below investment grade if it is rated Ba1 or lower by Moody’s Investors Service, Inc. and BB+ or lower by S&P Global Ratings or, if unrated, has been determined by Park Avenue Institutional Advisers LLC (“Park Avenue”), the Fund’s sub-adviser, to be of comparable quality. The debt securities and other investments in which the Fund invests may include, for example, corporate bonds, mortgage-backed and asset-backed securities, zero-coupon bonds, “payment-in-kind” securities, and convertible bonds. The Fund may invest in loans and corporate bonds issued in connection with highly leveraged transactions such as mergers, leveraged buyouts, recapitalizations, and acquisitions. The Fund may invest in loans of any maturity and credit quality.The Fund invests primarily in securities, including high-yield corporate bonds, convertible bonds, and other debt securities, that are rated below investment grade by nationally recognized statistical ratings organizations (commonly known as “high-yield” securities or “junk bonds”) at the time of purchase or, if unrated, have been determined by Park Avenue to be of comparable quality.The Fund may invest in common and preferred stocks, warrants to purchase common stocks, bonds, or other securities; typically, not more than 20% of the Fund’s assets will be invested in these types of securities.The Fund also may invest up to 35% of the value of its total assets in foreign securities and so-called Yankee securities, which include debt securities issued by non-U.S. corporate or government entities but denominated in U.S. dollars.The Fund may enter into exchange-traded or over-the-counter derivatives transactions of any kind, such as futures contracts, options on futures, and swap contracts, including, for example, interest rate swaps and credit default swaps. The Fund also may enter into exchange-traded or over-the-counter foreign currency exchange transactions, including currency futures, forward, and option transactions. The Fund may enter into any of these transactions for a variety of purposes, including, but not limited to, hedging various risks such as credit risk, interest rate risk, currency risk, and liquidity risk; taking a net long or short position in certain investments or markets; providing liquidity in the Fund; equitizing cash; minimizing transaction costs; generating income; adjusting the Fund’s sensitivity to interest rate risk, currency risk, or other risk; replicating certain direct investments; and asset and sector allocation.Park Avenue considers several factors in purchasing and selling securities, such as the price of the security and the earnings patterns, the financial history, the management structure, and the general prospects of the issuer. Park Avenue considers the duration and the maturity of the Fund’s portfolio; however, these factors are a lesser consideration than credit and yield considerations due to the nature of the high-yield securities in which the Fund invests. There is no lower limit on the rating of securities that may be held by the Fund. Some of the securities that the Fund buys and holds may be in default.Park Avenue may sell investments when it believes that they no longer offer attractive potential future returns compared to other investment opportunities or that they present undesirable risks, or in an attempt to limit losses on investments that may decline or have declined in value.
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GUHYX - Performance
Return Ranking - Trailing
| Period | GUHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.4% | -7.5% | 18.1% | 30.87% |
| 1 Yr | 12.3% | -4.6% | 18.6% | 28.41% |
| 3 Yr | 0.6%* | -14.4% | 21.6% | 93.17% |
| 5 Yr | 2.9%* | -11.4% | 37.2% | 84.34% |
| 10 Yr | N/A* | -4.7% | 20.4% | 20.59% |
* Annualized
Return Ranking - Calendar
| Period | GUHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.5% | -4.7% | 14.3% | 93.44% |
| 2022 | -22.5% | -33.4% | 3.6% | 96.85% |
| 2021 | -0.6% | -8.4% | 8.2% | 74.57% |
| 2020 | 1.5% | -13.2% | 302.7% | 17.52% |
| 2019 | 8.5% | -4.4% | 13.3% | 38.07% |
Total Return Ranking - Trailing
| Period | GUHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.4% | -7.5% | 18.1% | 30.87% |
| 1 Yr | 12.3% | -4.6% | 18.6% | 28.41% |
| 3 Yr | 0.6%* | -14.4% | 21.6% | 93.17% |
| 5 Yr | 2.9%* | -11.4% | 37.2% | 84.34% |
| 10 Yr | N/A* | -4.7% | 20.4% | 29.65% |
* Annualized
Total Return Ranking - Calendar
| Period | GUHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.2% | -4.7% | 18.7% | 48.52% |
| 2022 | -16.5% | -33.4% | 47.8% | 95.03% |
| 2021 | 5.4% | -8.4% | 12.4% | 41.41% |
| 2020 | 8.1% | -9.6% | 325.6% | 9.56% |
| 2019 | 15.5% | -3.8% | 19.4% | 15.85% |
NAV & Total Return History
GUHYX - Holdings
Concentration Analysis
| GUHYX | Category Low | Category High | GUHYX % Rank | |
|---|---|---|---|---|
| Net Assets | 185 M | 3.13 M | 25.3 B | 76.14% |
| Number of Holdings | 131 | 2 | 4432 | 89.82% |
| Net Assets in Top 10 | 53.8 M | -492 M | 6.67 B | 64.20% |
| Weighting of Top 10 | 29.08% | 4.2% | 146.0% | 8.54% |
Top 10 Holdings
- FEDERAL HOME LOAN BANK 5.95%
- GLDMN SCHS FIN SQ GV-FST 3.79%
- MSILF GOVERNMENT-INST 3.79%
- INVESCO GVT AGNCY-INST 3.79%
- HSBC US GOVT MMKT-I 3.79%
- ISHARES IBOXX HIGH YIELD CORPORATE BOND ETF 2.00%
- RADIOLOGY PARTNERS INC 1.62%
- SPDR BLOOMBERG HIGH YIELD 1.58%
- SCIENTIFIC GAMES INTERNA 1.43%
- WYNN RESORTS FINANCE LLC 1.35%
Asset Allocation
| Weighting | Return Low | Return High | GUHYX % Rank | |
|---|---|---|---|---|
| Bonds | 93.40% | 0.00% | 145.36% | 66.99% |
| Cash | 15.16% | -52.00% | 48.02% | 5.25% |
| Stocks | 0.37% | 0.00% | 97.54% | 48.04% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 56.81% |
| Other | 0.00% | -39.08% | 99.23% | 59.77% |
| Convertible Bonds | 0.00% | 0.00% | 17.89% | 95.40% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | GUHYX % Rank | |
|---|---|---|---|---|
| Communication Services | 77.99% | 0.00% | 99.99% | 5.34% |
| Healthcare | 22.01% | 0.00% | 22.17% | 0.89% |
| Utilities | 0.00% | 0.00% | 100.00% | 44.81% |
| Technology | 0.00% | 0.00% | 33.17% | 46.59% |
| Real Estate | 0.00% | 0.00% | 86.71% | 39.47% |
| Industrials | 0.00% | 0.00% | 93.12% | 47.48% |
| Financial Services | 0.00% | 0.00% | 100.00% | 47.18% |
| Energy | 0.00% | 0.00% | 100.00% | 79.53% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 39.47% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 54.30% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 43.92% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | GUHYX % Rank | |
|---|---|---|---|---|
| US | 0.37% | 0.00% | 97.54% | 46.96% |
| Non US | 0.00% | -0.01% | 0.83% | 38.92% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | GUHYX % Rank | |
|---|---|---|---|---|
| Corporate | 99.83% | 0.00% | 100.00% | 1.97% |
| Cash & Equivalents | 15.16% | 0.00% | 48.02% | 4.60% |
| Derivative | 0.00% | -14.58% | 42.26% | 47.45% |
| Securitized | 0.00% | 0.00% | 97.24% | 58.55% |
| Municipal | 0.00% | 0.00% | 1.17% | 27.96% |
| Government | 0.00% | 0.00% | 99.07% | 47.70% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | GUHYX % Rank | |
|---|---|---|---|---|
| US | 93.40% | 0.00% | 126.57% | 48.28% |
| Non US | 0.00% | 0.00% | 96.91% | 55.83% |
GUHYX - Expenses
Operational Fees
| GUHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.09% | 0.02% | 38.33% | 40.66% |
| Management Fee | 0.60% | 0.00% | 1.75% | 64.48% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 27.57% |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| GUHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 2.25% | 2.25% | 5.75% | 96.81% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| GUHYX 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.
| GUHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 67.00% | 1.00% | 255.00% | 56.55% |
GUHYX - Distributions
Dividend Yield Analysis
| GUHYX | Category Low | Category High | GUHYX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 7.20% | 0.00% | 11.76% | 6.36% |
Dividend Distribution Analysis
| GUHYX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| GUHYX | Category Low | Category High | GUHYX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 5.22% | -2.39% | 9.30% | 13.21% |
Capital Gain Distribution Analysis
| GUHYX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.033 | OrdinaryDividend |
| Oct 31, 2024 | $0.032 | OrdinaryDividend |
| Sep 30, 2024 | $0.035 | OrdinaryDividend |
| Aug 30, 2024 | $0.036 | OrdinaryDividend |
| Jul 31, 2024 | $0.036 | OrdinaryDividend |
| Apr 30, 2024 | $0.026 | OrdinaryDividend |
| Mar 28, 2024 | $0.030 | OrdinaryDividend |
| Feb 29, 2024 | $0.032 | OrdinaryDividend |
| Jan 31, 2024 | $0.034 | OrdinaryDividend |
| Dec 29, 2023 | $0.028 | OrdinaryDividend |
| Nov 30, 2023 | $0.035 | OrdinaryDividend |
| Oct 31, 2023 | $0.038 | OrdinaryDividend |
| Sep 29, 2023 | $0.035 | OrdinaryDividend |
| Aug 31, 2023 | $0.040 | OrdinaryDividend |
| Jul 31, 2023 | $0.035 | OrdinaryDividend |
| Jun 30, 2023 | $0.036 | OrdinaryDividend |
| May 31, 2023 | $0.042 | OrdinaryDividend |
| Apr 28, 2023 | $0.038 | OrdinaryDividend |
| Mar 31, 2023 | $0.040 | OrdinaryDividend |
| Feb 28, 2023 | $0.036 | OrdinaryDividend |
| Jan 31, 2023 | $0.040 | OrdinaryDividend |
| Dec 30, 2022 | $0.038 | OrdinaryDividend |
| Nov 30, 2022 | $0.038 | OrdinaryDividend |
| Oct 31, 2022 | $0.039 | OrdinaryDividend |
| Sep 30, 2022 | $0.035 | OrdinaryDividend |
| Aug 31, 2022 | $0.037 | OrdinaryDividend |
| Jul 29, 2022 | $0.034 | OrdinaryDividend |
| Jun 30, 2022 | $0.033 | OrdinaryDividend |
| May 31, 2022 | $0.032 | OrdinaryDividend |
| Apr 29, 2022 | $0.030 | OrdinaryDividend |
| Mar 31, 2022 | $0.031 | OrdinaryDividend |
| Feb 28, 2022 | $0.027 | OrdinaryDividend |
| Jan 31, 2022 | $0.033 | OrdinaryDividend |
| Dec 31, 2021 | $0.034 | OrdinaryDividend |
| Nov 30, 2021 | $0.029 | OrdinaryDividend |
| Oct 29, 2021 | $0.030 | OrdinaryDividend |
| Sep 30, 2021 | $0.027 | OrdinaryDividend |
| Aug 31, 2021 | $0.031 | OrdinaryDividend |
| Jul 30, 2021 | $0.032 | OrdinaryDividend |
| Jun 30, 2021 | $0.029 | OrdinaryDividend |
| May 28, 2021 | $0.030 | OrdinaryDividend |
| Apr 30, 2021 | $0.030 | OrdinaryDividend |
| Mar 31, 2021 | $0.033 | OrdinaryDividend |
| Feb 26, 2021 | $0.030 | OrdinaryDividend |
| Jan 29, 2021 | $0.032 | OrdinaryDividend |
| Dec 31, 2020 | $0.035 | OrdinaryDividend |
| Nov 30, 2020 | $0.032 | OrdinaryDividend |
| Oct 30, 2020 | $0.031 | OrdinaryDividend |
| Sep 30, 2020 | $0.031 | OrdinaryDividend |
| Aug 31, 2020 | $0.030 | OrdinaryDividend |
| Jul 31, 2020 | $0.032 | OrdinaryDividend |
| Jun 30, 2020 | $0.028 | OrdinaryDividend |
| May 29, 2020 | $0.032 | OrdinaryDividend |
| Apr 30, 2020 | $0.028 | OrdinaryDividend |
| Mar 31, 2020 | $0.034 | OrdinaryDividend |
| Feb 28, 2020 | $0.031 | OrdinaryDividend |
| Jan 31, 2020 | $0.031 | OrdinaryDividend |
| Dec 31, 2019 | $0.032 | OrdinaryDividend |
| Nov 29, 2019 | $0.031 | OrdinaryDividend |
| Oct 31, 2019 | $0.034 | OrdinaryDividend |
| Sep 30, 2019 | $0.029 | OrdinaryDividend |
| Aug 30, 2019 | $0.032 | OrdinaryDividend |
| Jul 31, 2019 | $0.031 | OrdinaryDividend |
GUHYX - Fund Manager Analysis
Managers
John Blaney
Start Date
Tenure
Tenure Rank
May 01, 2015
7.09
7.1%
John Blaney joined Guardian in 2000 and is a co-manager of the Victory Floating Rate Fund and Victory High Yield Fund. John also co-manages the high yield bond and leveraged loan portfolios in the Guardian general account. During his tenure as senior credit analyst at Guardian, John covered nearly every high yield sector. Prior to joining Guardian, John was an investment analyst at MetLife. He has over 20 years of investment experience. John holds a B.S. in finance from Trenton State College and an MBA from Seton Hall University. He has a Chartered Financial Analyst (CFA) designation and is a
Andrew Liggio
Start Date
Tenure
Tenure Rank
Mar 15, 2021
1.21
1.2%
Andrew Liggio has co-managed the Victory Floating Rate Fund since March 2021. He is a managing director and head of the high yield and bank loan portfolio management group at Guardian Life. Before joining Guardian Life in 2016, he was a partner and analyst at Castle Hill Asset Management. He began his career as an auditor at Arthur Andersen and a credit assistant at The Bank of New York. Mr. Liggio holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute and the New York Society of Security Analysts.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.31 | 8.17 |
