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Morningstar Multisector Bond Fund
mutual fund
MSTMX
Payout Change
Pending
Price as of:
$9.07
+0.01
+0.11%
primary theme
Bond Sector Diversified
share class
MSTMX (Mutual Fund)
Morningstar Multisector Bond Fund
Payout Change
Pending
Price as of:
$9.07
+0.01
+0.11%
primary theme
Bond Sector Diversified
share class
MSTMX (Mutual Fund)
Morningstar Multisector Bond Fund
Payout Change
Pending
Price as of:
$9.07
+0.01
+0.11%
primary theme
Bond Sector Diversified
share class
Name
As of 12/09/2024Price
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
7.3%
1 yr return
10.1%
3 Yr Avg Return
0.6%
5 Yr Avg Return
1.3%
Net Assets
$179 M
Holdings in Top 10
10.9%
52 WEEK LOW AND HIGH
$9.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.03%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/09/2024Price
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
MSTMX - Profile
Distributions
- YTD Total Return 7.3%
- 3 Yr Annualized Total Return 0.6%
- 5 Yr Annualized Total Return 1.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 4.31%
- Dividend Yield 5.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMorningstar Multisector Bond Fund
-
Fund Family NameMorningstar
-
Inception DateNov 02, 2018
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMatthew Eagan
Fund Description
In seeking total return through a combination of current income and capital appreciation, the Fund will normally invest at least 80% of its assets in debt securities (commonly referred to as “bonds”) of varying maturity, duration, and quality across various sectors of the fixed-income market. These may include U.S. and non-U.S. corporate debt securities, U.S. and non-U.S. government debt securities, emerging-market debt securities, mortgage-backed and asset-backed securities, municipal securities, and floating-rate notes.
The Fund invests in investment grade and below investment grade fixed income securities. The Fund may invest without limit in fixed-income securities that are rated below investment grade (commonly known as junk bonds), or if unrated, are determined by the Fund’s subadviser(s) to be of comparable quality. The Fund may invest without limit in securities denominated in foreign currencies and in U.S. dollar- denominated securities of foreign issuers.
The Fund may invest in securities acquired in a private placement, such as Rule 144A securities, as well as derivatives, including options, futures, swaps, forward foreign currency contracts and currency options, for risk management purposes or as part of its investment strategies. Due to the opportunistic nature of its strategy, the Fund may also invest up to 20% of its assets in equity securities, including common stocks and convertible securities.
The nature of the strategies in this Fund is to engage in active and frequent trading of its portfolio securities which may result in higher portfolio turnover. Turnover is mainly driven by a few strategies employed to help manage duration and curve risk.
Multimanager Approach—The Fund uses a multimanager approach, meaning the adviser may allocate assets to one or more subadvisers, in addition to open- and closed-end investment companies, ETFs, and individual securities (collectively “Allocation Decisions”). The adviser and each subadviser acts independently from the others and uses its own investment style and process to select securities, within the constraints of the Fund’s investment objective, strategies, and restrictions. Morningstar is responsible for selecting the investment strategies and making Allocation Decisions, with the goal of maximizing return in the context of pursuing the Fund’s investment objective with a prudent level of risk for the strategy. Morningstar may change subadvisers, subject to the oversight of the board of trustees, and sell holdings at any time.
MSTMX - Performance
Return Ranking - Trailing
| Period | MSTMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.3% | -11.3% | 18.9% | 43.50% |
| 1 Yr | 10.1% | -9.7% | 20.6% | 31.73% |
| 3 Yr | 0.6%* | -16.9% | 16.9% | 74.60% |
| 5 Yr | 1.3%* | -14.7% | 13.4% | 78.21% |
| 10 Yr | N/A* | -7.0% | 7.1% | N/A |
* Annualized
Return Ranking - Calendar
| Period | MSTMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.2% | -12.0% | 8.9% | 20.09% |
| 2022 | -14.3% | -31.8% | 18.4% | 62.76% |
| 2021 | -6.7% | -16.2% | 25.7% | 95.25% |
| 2020 | 3.5% | -31.1% | 18.7% | 30.66% |
| 2019 | 3.9% | -6.1% | 15.3% | 59.34% |
Total Return Ranking - Trailing
| Period | MSTMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.3% | -11.3% | 18.9% | 43.50% |
| 1 Yr | 10.1% | -9.7% | 20.6% | 31.73% |
| 3 Yr | 0.6%* | -16.9% | 16.9% | 74.60% |
| 5 Yr | 1.3%* | -14.7% | 13.4% | 78.21% |
| 10 Yr | N/A* | -7.0% | 7.1% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MSTMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.0% | -6.9% | 22.2% | 20.87% |
| 2022 | -13.1% | -31.8% | 21.1% | 88.59% |
| 2021 | -3.8% | -13.5% | 49.9% | 96.07% |
| 2020 | 6.5% | -28.6% | 24.1% | 40.64% |
| 2019 | 10.9% | -4.8% | 19.1% | 26.20% |
NAV & Total Return History
MSTMX - Holdings
Concentration Analysis
| MSTMX | Category Low | Category High | MSTMX % Rank | |
|---|---|---|---|---|
| Net Assets | 179 M | 2.63 M | 143 B | 75.16% |
| Number of Holdings | 1506 | 4 | 9638 | 13.73% |
| Net Assets in Top 10 | 19.3 M | -204 M | 89.4 B | 89.55% |
| Weighting of Top 10 | 10.92% | 5.8% | 265.8% | 88.84% |
Top 10 Holdings
- SEP 24 US 2YR SEP 24 2.56%
- FUT. CBT 5Y T-NOTE SEP24 1.28%
- BNTNF 10 01/01/27 NTNF 1.26%
- Northern Inst Fds TREAS PRT PRMR 1.22%
- T 4.875 04/30/26 0.92%
- IGB 7.18 08/14/33 0.83%
- BNTNF 10 01/01/29 NTNF 0.78%
- Northern Inst Fds TREAS PRT PRMR 0.73%
- Northern Inst Fds TREAS PRT PRMR 0.71%
- INDOGB 6.625 02/15/34 100 0.63%
Asset Allocation
| Weighting | Return Low | Return High | MSTMX % Rank | |
|---|---|---|---|---|
| Bonds | 94.29% | 0.00% | 199.60% | 37.29% |
| Cash | 2.73% | -94.66% | 99.97% | 57.88% |
| Convertible Bonds | 2.21% | 0.00% | 33.50% | 37.82% |
| Other | 2.11% | -75.22% | 147.15% | 54.76% |
| Stocks | 1.34% | -6.18% | 99.68% | 39.31% |
| Preferred Stocks | 0.06% | 0.00% | 21.58% | 37.13% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MSTMX % Rank | |
|---|---|---|---|---|
| Communication Services | 36.98% | 0.00% | 100.00% | 4.93% |
| Healthcare | 13.97% | 0.00% | 18.60% | 6.09% |
| Technology | 11.34% | 0.00% | 28.30% | 19.42% |
| Industrials | 11.18% | 0.00% | 100.00% | 20.58% |
| Consumer Defense | 7.18% | 0.00% | 99.97% | 15.07% |
| Utilities | 4.43% | 0.00% | 100.00% | 22.61% |
| Financial Services | 3.86% | 0.00% | 100.00% | 49.57% |
| Energy | 3.67% | 0.00% | 100.00% | 61.16% |
| Consumer Cyclical | 3.13% | 0.00% | 89.95% | 28.41% |
| Basic Materials | 2.29% | 0.00% | 100.00% | 29.28% |
| Real Estate | 1.96% | 0.00% | 100.00% | 39.42% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MSTMX % Rank | |
|---|---|---|---|---|
| US | 1.34% | -6.18% | 99.68% | 36.19% |
| Non US | 0.00% | -0.30% | 17.73% | 29.80% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MSTMX % Rank | |
|---|---|---|---|---|
| Government | 44.81% | 0.00% | 99.43% | 5.31% |
| Corporate | 29.98% | 0.00% | 96.66% | 56.20% |
| Cash & Equivalents | 2.73% | 0.00% | 94.89% | 54.30% |
| Derivative | 1.22% | -75.22% | 147.15% | 9.86% |
| Securitized | 1.01% | 0.00% | 99.65% | 87.92% |
| Municipal | 0.00% | 0.00% | 54.26% | 44.61% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MSTMX % Rank | |
|---|---|---|---|---|
| US | 75.19% | 0.00% | 199.60% | 54.91% |
| Non US | 19.11% | 0.00% | 74.14% | 18.41% |
MSTMX - Expenses
Operational Fees
| MSTMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.03% | 0.03% | 34.13% | 58.79% |
| Management Fee | 0.61% | 0.00% | 2.29% | 55.73% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
| MSTMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.50% | N/A |
Trading Fees
| MSTMX 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.
| MSTMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 632.00% | 31.94% |
MSTMX - Distributions
Dividend Yield Analysis
| MSTMX | Category Low | Category High | MSTMX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.66% | 0.00% | 23.30% | 27.82% |
Dividend Distribution Analysis
| MSTMX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| MSTMX | Category Low | Category High | MSTMX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.31% | -1.55% | 11.51% | 14.26% |
Capital Gain Distribution Analysis
| MSTMX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.043 | OrdinaryDividend |
| Oct 31, 2024 | $0.042 | OrdinaryDividend |
| Sep 30, 2024 | $0.049 | OrdinaryDividend |
| Aug 30, 2024 | $0.043 | OrdinaryDividend |
| Jul 31, 2024 | $0.040 | OrdinaryDividend |
| Apr 30, 2024 | $0.046 | OrdinaryDividend |
| Mar 28, 2024 | $0.045 | OrdinaryDividend |
| Feb 29, 2024 | $0.044 | OrdinaryDividend |
| Jan 31, 2024 | $0.036 | OrdinaryDividend |
| Dec 28, 2023 | $0.050 | OrdinaryDividend |
| Nov 30, 2023 | $0.039 | OrdinaryDividend |
| Oct 31, 2023 | $0.037 | OrdinaryDividend |
| Sep 29, 2023 | $0.041 | OrdinaryDividend |
| Aug 31, 2023 | $0.041 | OrdinaryDividend |
| Jul 31, 2023 | $0.045 | OrdinaryDividend |
| Jun 30, 2023 | $0.062 | OrdinaryDividend |
| May 31, 2023 | $0.033 | OrdinaryDividend |
| Apr 28, 2023 | $0.032 | OrdinaryDividend |
| Mar 31, 2023 | $0.043 | OrdinaryDividend |
| Feb 28, 2023 | $0.026 | OrdinaryDividend |
| Jan 31, 2023 | $0.022 | OrdinaryDividend |
| Dec 29, 2022 | $0.059 | OrdinaryDividend |
| Nov 30, 2022 | $0.033 | OrdinaryDividend |
| Oct 31, 2022 | $0.013 | OrdinaryDividend |
| May 31, 2022 | $0.016 | OrdinaryDividend |
| Dec 17, 2021 | $0.065 | CapitalGainShortTerm |
| Dec 17, 2021 | $0.048 | CapitalGainLongTerm |
| Nov 30, 2021 | $0.031 | OrdinaryDividend |
| Oct 29, 2021 | $0.038 | OrdinaryDividend |
| Sep 30, 2021 | $0.037 | OrdinaryDividend |
| Aug 31, 2021 | $0.026 | OrdinaryDividend |
| Jul 30, 2021 | $0.026 | OrdinaryDividend |
| Jun 30, 2021 | $0.014 | OrdinaryDividend |
| May 28, 2021 | $0.025 | OrdinaryDividend |
| Jan 29, 2021 | $0.006 | OrdinaryDividend |
| Dec 30, 2020 | $0.006 | OrdinaryDividend |
| Nov 30, 2020 | $0.019 | OrdinaryDividend |
| Oct 30, 2020 | $0.034 | OrdinaryDividend |
| Sep 30, 2020 | $0.033 | OrdinaryDividend |
| Aug 31, 2020 | $0.036 | OrdinaryDividend |
| Jul 31, 2020 | $0.042 | OrdinaryDividend |
| Jun 30, 2020 | $0.047 | OrdinaryDividend |
| May 29, 2020 | $0.023 | OrdinaryDividend |
| Feb 28, 2020 | $0.032 | OrdinaryDividend |
| Jan 31, 2020 | $0.015 | OrdinaryDividend |
| Dec 30, 2019 | $0.073 | OrdinaryDividend |
| Dec 20, 2019 | $0.089 | CapitalGainShortTerm |
| Nov 27, 2019 | $0.032 | OrdinaryDividend |
| Oct 31, 2019 | $0.047 | OrdinaryDividend |
| Sep 30, 2019 | $0.039 | OrdinaryDividend |
| Aug 30, 2019 | $0.011 | OrdinaryDividend |
| Jul 31, 2019 | $0.043 | OrdinaryDividend |
| Jun 28, 2019 | $0.110 | OrdinaryDividend |
| May 31, 2019 | $0.030 | OrdinaryDividend |
| Apr 30, 2019 | $0.049 | OrdinaryDividend |
| Mar 29, 2019 | $0.038 | OrdinaryDividend |
| Feb 28, 2019 | $0.043 | OrdinaryDividend |
| Jan 31, 2019 | $0.037 | OrdinaryDividend |
| Dec 31, 2018 | $0.037 | OrdinaryDividend |
MSTMX - Fund Manager Analysis
Managers
Matthew Eagan
Start Date
Tenure
Tenure Rank
Nov 02, 2018
3.58
3.6%
Matthew J. Eagan is an Executive Vice President and a member of the Board of Directors of Loomis Sayles. Mr. Eagan started his investment career in 1989 and joined Loomis Sayles in 1997. Previously, he worked for Liberty Mutual Insurance Company as a senior fixed-income analyst and for BancBoston Financial Company as a senior credit analyst. Mr. Eagan received his BA from Northeastern University and his MBA from Boston University. He is a CFA® charterholder.
Elaine Stokes
Start Date
Tenure
Tenure Rank
Nov 02, 2018
3.58
3.6%
Elaine M. Stokes is an Executive Vice President and a member of the Board of Directors of Loomis Sayles. She has joined Loomis Sayles in 1988. Prior to becoming a portfolio manager in 2000, she had experience working in high yield, global and emerging markets, serving as a senior fixed-income trader and portfolio specialist. Ms. Stokes is co-head and founder of the Loomis Sayles Women's Network group and is on the executive board for the Strong Women, Strong Girls nonprofit organization. Ms. Stokes earned a BS from St. Michael's College.
Alex Stanojevic
Start Date
Tenure
Tenure Rank
Nov 02, 2018
3.58
3.6%
Alex Stanojevic—Alex Stanojevic is a portfolio manager for the TCW Emerging Markets Group. Prior to this, he served as the team’s head trader, where he was responsible for trading emerging-markets fixed-income assets and determining relative value opportunities in the investable universe. Stanojevic joined TCW in 2005 from Coast Asset Management LP, where he was responsible for interest-rate derivatives transactions, trade modeling, research, and performance reporting. Stanojevic received his BS in Finance from the California State University Long Beach (magna cum laude), and an MBA from Loyola Marymount University, Los Angeles.
Ricky Williamson
Start Date
Tenure
Tenure Rank
Jun 30, 2019
2.92
2.9%
Ricky Williamson is a portfolio manager within Morningstar Investment Management. He is focused on portfolio construction, asset allocation, and manager due diligence. Williamson is also a member of Investment Management’s Global Asset Allocation team, focusing on emerging-market debt as well as general fixed-income research. He develops and implements asset-class positioning and fund-of-funds portfolios, evaluates investment managers, and performs capital-market research. He currently serves as a co-manager for three Morningstar mutual funds: Morningstar Total Return Bond Fund, Morningstar Municipal Bond Fund, and Morningstar Multisector Bond Fund. Prior to joining Morningstar Investment Management in 2013, Williamson was a consultant and analyst with Cardinal Investment Advisors, LLC., where he built asset-allocation models for defined-benefit plans, performed manager due diligence, and worked on capital-market research. Williamson holds a bachelor’s degree in economics and government from the University of Virginia. He also holds a Certificate in Investment Performance Measurement and the Chartered Financial Analyst® designation.
Hong Cheng
Start Date
Tenure
Tenure Rank
Dec 30, 2020
1.42
1.4%
Hong Cheng is a portfolio manager within Morningstar's Investment Management group. Hong's primary responsibilities include managing the income focused strategies, including portfolio construction, subadvisor and ETF selection. Hong also co-manages Morningstar Global Income fund, Morningstar Multisector Bond fund and Morningstar Defensive Bond fund. Hong is a member of Investment Management's Global Asset Allocation team focusing on U.S. below-investment grade credit sectors. Hong is a CFA Charter Holder, a member of the CFA Institute and the CFA Society of Chicago.
Todd Vandam
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Todd Vandam is a Vice President at Loomis, Sayles & Company and co-portfolio manager with the fixed-income high yield and global high yield teams. Mr. Vandam began his career at Loomis Sayles in 1994 on the high yield trading desk. Prior to joining Loomis Sayles in 1994, Mr. Vandam worked as a Field Artillery Officer in the United States Army, most recently working as a Fire Support Officer stationed at Fort Davis, Panama. Mr. Vandam earned a BA in business and economics from Brown University. He is a member of the Boston Security Analysts Society and he is a CFA®charterholder.
Brian Kennedy
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Brian Kennedy is a Vice President of Loomis, Sayles & Company and co-portfolio manager of the firm’s multisector institutional strategies and mutual funds. Mr. Kennedy joined Loomis Sayles in 1994 as a securitized and government bond trader. Mr. Kennedy first joined the full discretion investment team as product manager in 2009, was promoted in 2013 to co-portfolio manager of the investment grade bond products and again in 2016 to co-portfolio manager of the multisector suite of products. He earned a BS from Providence College and an MBA from Babson College.
Anil Katarya
Start Date
Tenure
Tenure Rank
May 02, 2022
0.08
0.1%
Anil Katarya, CFA Co-Head of Investment Grade Credit Anil Katarya is co-head of investment grade credit and senior portfolio manager at Voya Investment Management. Previously, Anil was the head of credit portfolio management and also served as a portfolio manager and credit analyst on the investment grade team since joining Voya in 2000. Prior to joining the firm, Anil was a financial analyst for Mirant Inc. He received a BS in mechanical engineering from Kurukshetra University, India, and an MBA from Georgia State University. Anil holds the Chartered Financial Analyst® designation.
Travis King
Start Date
Tenure
Tenure Rank
May 02, 2022
0.08
0.1%
Travis King, CFA Co-Head of Investment Grade Credit Travis King is co-head of investment grade credit at Voya Investment Management. Prior to joining the firm, he was a senior fixed income analyst with Reams Asset Management. Travis received a BBA from James Madison University and an MBA from Memorial University. He holds the Chartered Financial Analyst® designation.
Alfonzo Bruno
Start Date
Tenure
Tenure Rank
May 02, 2022
0.08
0.1%
Alfonzo Bruno is an associate portfolio manager with Morningstar’s Investment Management group. Along with the other Morningstar portfolios managers for the Funds, Bruno is responsible for subadviser selection and oversight, subadviser and exchange traded funds (ETFs) allocations, in addition to other portfolio management responsibilities. Bruno is also a member of Investment Management’s Global Asset Allocation team focusing on U.S. treasuries and agency mortgage-backed securities. Previously, Bruno was a manager research analyst at Morningstar, where he focused on fixed income manager research. Prior to joining Morningstar, Bruno was an investment analyst for the Illinois Municipal Retirement Fund where he focused on public markets portfolio and risk management. Bruno holds a bachelor’s degree in finance from the University of Iowa. Bruno is a CFA Charterholder. Bruno has served as a portfolio manager for the Funds since May 2022.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 28.19 | 5.71 | 3.19 |
