Dividend Investing Ideas Center
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 10/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
7.2%
1 yr return
8.5%
3 Yr Avg Return
1.4%
5 Yr Avg Return
N/A
Net Assets
$1.56 B
Holdings in Top 10
6.9%
Expense Ratio 0.64%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in a portfolio of floating rate loans and other floating rate debt securities. The Fund may also purchase fixed-income and variable rate debt securities and money market securities or instruments. When NYL Investors LLC, the Fund's Subadvisor, believes that market or economic conditions are unfavorable to
investors, up to 100% of the Fund's assets may be invested in money market or short-term debt securities. The Subadvisor may also invest in these types of securities or hold a higher than ordinary level of cash, while looking for suitable investment opportunities or to maintain an appropriate level of liquidity.
The Fund may invest up to 25% of its total assets in foreign securities which are generally U.S. dollar-denominated loans and other debt securities issued by one or more non-U.S. borrower(s) without a U.S. domiciled co-borrower. An issuer of a security is considered to be a U.S. or foreign issuer based on the issuer’s “country of risk” (or similar designation) as determined by a third party such as Bloomberg.
Investment Process: The Subadvisor seeks to identify investment opportunities based on the financial condition and competitiveness of individual companies. The Subadvisor seeks to invest in companies with a high margin of safety that are leaders in industries with high barriers to entry. The Subadvisor prefers companies with positive free cash flow, solid asset coverage and management teams with strong track records. In virtually every phase of the investment process, the Subadvisor attempts to control risk and limit defaults.
Floating rate loans may offer a favorable yield spread over other short-term debt alternatives. Historically, floating rate loans have displayed little correlation to the movements of U.S. common stocks, high-grade bonds and U.S. government securities. Securities that are rated below investment grade by a nationally recognized statistical rating organization (“NRSRO”) (such as securities rated lower than BBB- and Baa3), commonly referred to as “high-yield securities” or “junk bonds.” Floating rate loans are speculative investments and are usually rated below investment grade by an NRSRO. They typically have less credit risk and historically have had lower default rates than junk bonds. These loans are typically the most senior source of capital in a borrower's capital structure and usually have certain of the borrower's assets pledged as collateral. Floating rate loans feature rates that reset regularly, maintaining a fixed spread over the Secured Overnight Financing Rate or another reference rate or benchmark. The interest rates for floating rate loans typically reset quarterly, although rates on some loans may adjust at other intervals. Floating rate loans mature, on average, in five to seven years, but loan maturity can be as long as nine years.
The Subadvisor’s investment process relies on a comprehensive fundamental investment discipline, including, but not limited to, consideration of environmental, social and governance (“ESG”) factors that may be material to a company’s performance and prospects. In addition to internal research, the Subadvisor may use third-party ESG data to compare internal views with external perspectives.
The Subadvisor may reduce or eliminate the Fund's position in a holding if it no longer believes the holding will contribute to meeting the investment objective of the Fund. In considering whether to sell a holding, the Subadvisor may evaluate, among other things, meaningful changes in the issuer's financial condition and competitiveness. The Subadvisor continually evaluates market factors and comparative metrics to determine relative value.
Period | MXFEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.2% | N/A | N/A | N/A |
1 Yr | 8.5% | N/A | N/A | N/A |
3 Yr | 1.4%* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Period | MXFEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.4% | N/A | N/A | N/A |
2022 | -5.7% | N/A | N/A | N/A |
2021 | 0.4% | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
Period | MXFEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.2% | N/A | N/A | N/A |
1 Yr | 8.5% | N/A | N/A | N/A |
3 Yr | 1.4%* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Period | MXFEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.4% | N/A | N/A | N/A |
2022 | -5.7% | N/A | N/A | N/A |
2021 | 0.4% | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
MXFEX | Category Low | Category High | MXFEX % Rank | |
---|---|---|---|---|
Net Assets | 1.56 B | N/A | N/A | N/A |
Number of Holdings | 553 | N/A | N/A | N/A |
Net Assets in Top 10 | 110 M | N/A | N/A | N/A |
Weighting of Top 10 | 6.86% | N/A | N/A | N/A |
Weighting | Return Low | Return High | MXFEX % Rank | |
---|---|---|---|---|
Bonds | 97.79% | N/A | N/A | N/A |
Cash | 3.47% | N/A | N/A | N/A |
Stocks | 0.13% | N/A | N/A | N/A |
Other | 0.00% | N/A | N/A | N/A |
Preferred Stocks | 0.00% | N/A | N/A | N/A |
Convertible Bonds | 0.00% | N/A | N/A | N/A |
Weighting | Return Low | Return High | MXFEX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | N/A | N/A | N/A |
Technology | 0.00% | N/A | N/A | N/A |
Real Estate | 0.00% | N/A | N/A | N/A |
Industrials | 0.00% | N/A | N/A | N/A |
Healthcare | 0.00% | N/A | N/A | N/A |
Financial Services | 0.00% | N/A | N/A | N/A |
Energy | 0.00% | N/A | N/A | N/A |
Communication Services | 0.00% | N/A | N/A | N/A |
Consumer Defense | 0.00% | N/A | N/A | N/A |
Consumer Cyclical | 0.00% | N/A | N/A | N/A |
Basic Materials | 0.00% | N/A | N/A | N/A |
Weighting | Return Low | Return High | MXFEX % Rank | |
---|---|---|---|---|
US | 0.13% | N/A | N/A | N/A |
Non US | 0.00% | N/A | N/A | N/A |
Weighting | Return Low | Return High | MXFEX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 3.47% | N/A | N/A | N/A |
Derivative | 0.00% | N/A | N/A | N/A |
Securitized | 0.00% | N/A | N/A | N/A |
Corporate | 0.00% | N/A | N/A | N/A |
Municipal | 0.00% | N/A | N/A | N/A |
Government | 0.00% | N/A | N/A | N/A |
Weighting | Return Low | Return High | MXFEX % Rank | |
---|---|---|---|---|
US | 97.79% | N/A | N/A | N/A |
Non US | 0.00% | N/A | N/A | N/A |
MXFEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.64% | N/A | N/A | N/A |
Management Fee | 0.59% | N/A | N/A | N/A |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | N/A | N/A | N/A | N/A |
MXFEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
MXFEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
MXFEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
MXFEX | Category Low | Category High | MXFEX % Rank | |
---|---|---|---|---|
Dividend Yield | 8.15% | N/A | N/A | N/A |
MXFEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly |
MXFEX | Category Low | Category High | MXFEX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
MXFEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Date | Amount | Type |
---|---|---|
Sep 30, 2024 | $0.060 | OrdinaryDividend |
Aug 31, 2024 | $0.065 | OrdinaryDividend |
Jul 31, 2024 | $0.062 | OrdinaryDividend |
Jun 30, 2024 | $0.062 | OrdinaryDividend |
Apr 30, 2024 | $0.061 | OrdinaryDividend |
Mar 31, 2024 | $0.065 | OrdinaryDividend |
Feb 29, 2024 | $0.061 | OrdinaryDividend |
Jan 31, 2024 | $0.064 | OrdinaryDividend |
Dec 31, 2023 | $0.064 | OrdinaryDividend |
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