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...
Osterweis Strategic Income Fund
mutual fund
OSTIX
Payout Change
Pending
Price as of:
$11.24
+0.01
+0.09%
primary theme
High Yield Bond
share class
OSTIX (Mutual Fund)
Osterweis Strategic Income Fund
Payout Change
Pending
Price as of:
$11.24
+0.01
+0.09%
primary theme
High Yield Bond
share class
OSTIX (Mutual Fund)
Osterweis Strategic Income Fund
Payout Change
Pending
Price as of:
$11.24
+0.01
+0.09%
primary theme
High Yield Bond
share class
Name
As of 12/06/2024Price
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
8.1%
1 yr return
10.5%
3 Yr Avg Return
4.6%
5 Yr Avg Return
5.7%
Net Assets
$5.79 B
Holdings in Top 10
14.9%
52 WEEK LOW AND HIGH
$11.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.87%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 49.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$1,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/06/2024Price
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
OSTIX - Profile
Distributions
- YTD Total Return 8.1%
- 3 Yr Annualized Total Return 4.6%
- 5 Yr Annualized Total Return 5.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.10%
- Dividend Yield 4.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameOsterweis Strategic Income Fund
-
Fund Family NameOsterweis
-
Inception DateOct 03, 2002
-
Shares Outstanding469988272
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerCarl Kaufman
Fund Description
The Fund invests primarily in income bearing securities. Osterweis Capital Management, LLC (the “Adviser”) takes a strategic approach and may invest in a wide array of fixed income securities of various credit qualities (e.g., investment grade or below investment grade) and maturities (e.g., long term, intermediate or short term). The Adviser seeks to control risk through rigorous credit analysis, economic analysis, interest rate forecasts and sector trend review, and is not constrained by any particular duration or credit quality targets. The Fund’s fixed income investments may include, but are not limited to, U.S. Federal and Agency obligations, investment grade corporate debt, below investment grade corporate debt, also known as “junk bonds” (higher-risk, lower-rated fixed income securities such as those rated lower than BBB- by S&P or lower than Baa3 by Moody’s), floating-rate debt, convertible debt, collateralized debt, municipal debt, foreign debt (including in emerging markets) and/or depositary receipts, commercial paper and preferred stock. The Fund may invest up to 100% of its net assets in dividend-paying equities of companies of any size – large, medium and small. Additionally, the Fund may also invest up to 100% of its assets in foreign debt (including in emerging markets) and/or depositary receipts. The Fund’s investments in any one sector may exceed 25% of its net assets. The Fund’s allocation among various fixed income securities is based on the portfolio managers’ assessment of opportunities for total return relative to the risk of each type of investment.
The Adviser may sell a security when it believes doing so is appropriate and consistent with the Fund’s investment objectives and policies or when conditions affecting relevant markets, particular industries or individual issues warrant such action, regardless of the effect on the Fund’s portfolio turnover rate.
OSTIX - Performance
Return Ranking - Trailing
| Period | OSTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.1% | -7.7% | 18.3% | 65.68% |
| 1 Yr | 10.5% | -4.8% | 18.6% | 67.98% |
| 3 Yr | 4.6%* | -14.1% | 21.6% | 9.56% |
| 5 Yr | 5.7%* | -11.4% | 37.3% | 9.25% |
| 10 Yr | 4.7%* | -4.9% | 20.3% | 19.43% |
* Annualized
Return Ranking - Calendar
| Period | OSTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.9% | -4.7% | 14.3% | 30.98% |
| 2022 | -10.2% | -33.4% | 3.6% | 7.45% |
| 2021 | 1.3% | -8.4% | 8.2% | 20.27% |
| 2020 | 4.7% | -13.2% | 302.7% | 4.07% |
| 2019 | 0.6% | -4.4% | 13.3% | 97.09% |
Total Return Ranking - Trailing
| Period | OSTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.1% | -7.7% | 18.3% | 65.68% |
| 1 Yr | 10.5% | -4.8% | 18.6% | 67.98% |
| 3 Yr | 4.6%* | -14.1% | 21.6% | 9.56% |
| 5 Yr | 5.7%* | -11.4% | 37.3% | 9.25% |
| 10 Yr | 4.7%* | -4.9% | 20.3% | 19.43% |
* Annualized
Total Return Ranking - Calendar
| Period | OSTIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.3% | -4.7% | 18.7% | 47.38% |
| 2022 | -5.9% | -33.4% | 47.8% | 10.43% |
| 2021 | 5.5% | -8.4% | 12.4% | 40.55% |
| 2020 | 9.0% | -9.6% | 325.6% | 6.55% |
| 2019 | 5.4% | -3.8% | 19.4% | 97.27% |
NAV & Total Return History
OSTIX - Holdings
Concentration Analysis
| OSTIX | Category Low | Category High | OSTIX % Rank | |
|---|---|---|---|---|
| Net Assets | 5.79 B | 3.13 M | 25.3 B | 10.78% |
| Number of Holdings | 178 | 2 | 4432 | 81.77% |
| Net Assets in Top 10 | 852 M | -492 M | 6.67 B | 9.52% |
| Weighting of Top 10 | 14.86% | 4.2% | 146.0% | 41.22% |
Top 10 Holdings
- MSILF Treasury Securities Portfolio 2.42%
- Federated Hermes US Treasury Cash Reserves 2.42%
- United States Treasury Bill 1.72%
- Delta Air Lines Inc 1.27%
- Pegasystems Inc 1.26%
- Conduent Business Services LLC / Conduent State Local Solutions Inc 1.25%
- Blackstone Private Credit Fund 1.13%
- KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc 1.13%
- Coeur Mining Inc 1.12%
- Ford Motor Credit Co LLC 1.12%
Asset Allocation
| Weighting | Return Low | Return High | OSTIX % Rank | |
|---|---|---|---|---|
| Bonds | 79.51% | 0.00% | 145.36% | 93.95% |
| Cash | 19.57% | -52.00% | 48.02% | 1.81% |
| Convertible Bonds | 8.93% | 0.00% | 17.89% | 0.99% |
| Stocks | 0.92% | 0.00% | 97.54% | 33.99% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 81.94% |
| Other | 0.00% | -39.08% | 99.23% | 78.49% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | OSTIX % Rank | |
|---|---|---|---|---|
| Consumer Defense | 100.00% | 0.00% | 100.00% | 1.48% |
| Utilities | 0.00% | 0.00% | 100.00% | 73.00% |
| Technology | 0.00% | 0.00% | 33.17% | 77.45% |
| Real Estate | 0.00% | 0.00% | 86.71% | 75.07% |
| Industrials | 0.00% | 0.00% | 93.12% | 77.74% |
| Healthcare | 0.00% | 0.00% | 22.17% | 71.81% |
| Financial Services | 0.00% | 0.00% | 100.00% | 78.04% |
| Energy | 0.00% | 0.00% | 100.00% | 91.99% |
| Communication Services | 0.00% | 0.00% | 99.99% | 84.87% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 78.93% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 75.67% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | OSTIX % Rank | |
|---|---|---|---|---|
| US | 0.92% | 0.00% | 97.54% | 33.99% |
| Non US | 0.00% | -0.01% | 0.83% | 74.38% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | OSTIX % Rank | |
|---|---|---|---|---|
| Corporate | 84.83% | 0.00% | 100.00% | 88.16% |
| Cash & Equivalents | 18.27% | 0.00% | 48.02% | 1.48% |
| Derivative | 0.00% | -14.58% | 42.26% | 70.94% |
| Securitized | 0.00% | 0.00% | 97.24% | 84.70% |
| Municipal | 0.00% | 0.00% | 1.17% | 70.56% |
| Government | 0.00% | 0.00% | 99.07% | 78.95% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | OSTIX % Rank | |
|---|---|---|---|---|
| US | 79.51% | 0.00% | 126.57% | 85.39% |
| Non US | 0.00% | 0.00% | 96.91% | 82.43% |
OSTIX - Expenses
Operational Fees
| OSTIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.87% | 0.02% | 38.33% | 59.02% |
| Management Fee | 0.71% | 0.00% | 1.75% | 88.87% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| OSTIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| OSTIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 31.25% |
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.
| OSTIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 49.00% | 1.00% | 255.00% | 29.44% |
OSTIX - Distributions
Dividend Yield Analysis
| OSTIX | Category Low | Category High | OSTIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.64% | 0.00% | 11.76% | 66.39% |
Dividend Distribution Analysis
| OSTIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
| OSTIX | Category Low | Category High | OSTIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.10% | -2.39% | 9.30% | 65.05% |
Capital Gain Distribution Analysis
| OSTIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 26, 2024 | $0.044 | OrdinaryDividend |
| Oct 29, 2024 | $0.073 | OrdinaryDividend |
| Sep 16, 2024 | $0.147 | OrdinaryDividend |
| Jun 17, 2024 | $0.151 | OrdinaryDividend |
| Mar 15, 2024 | $0.135 | OrdinaryDividend |
| Dec 29, 2023 | $0.018 | OrdinaryDividend |
| Dec 15, 2023 | $0.153 | OrdinaryDividend |
| Sep 15, 2023 | $0.142 | OrdinaryDividend |
| Jun 15, 2023 | $0.184 | OrdinaryDividend |
| Mar 15, 2023 | $0.128 | OrdinaryDividend |
| Dec 15, 2022 | $0.134 | OrdinaryDividend |
| Sep 15, 2022 | $0.124 | OrdinaryDividend |
| Jun 15, 2022 | $0.124 | OrdinaryDividend |
| Mar 16, 2022 | $0.106 | OrdinaryDividend |
| Dec 15, 2021 | $0.106 | OrdinaryDividend |
| Sep 15, 2021 | $0.137 | OrdinaryDividend |
| Jun 15, 2021 | $0.116 | OrdinaryDividend |
| Mar 15, 2021 | $0.104 | OrdinaryDividend |
| Dec 15, 2020 | $0.112 | OrdinaryDividend |
| Sep 15, 2020 | $0.114 | OrdinaryDividend |
| Jun 15, 2020 | $0.115 | OrdinaryDividend |
| Mar 16, 2020 | $0.095 | OrdinaryDividend |
| Dec 16, 2019 | $0.144 | OrdinaryDividend |
| Sep 16, 2019 | $0.120 | OrdinaryDividend |
| Jun 17, 2019 | $0.128 | OrdinaryDividend |
| Mar 15, 2019 | $0.122 | OrdinaryDividend |
| Dec 17, 2018 | $0.141 | OrdinaryDividend |
| Sep 17, 2018 | $0.124 | OrdinaryDividend |
| Jun 15, 2018 | $0.126 | OrdinaryDividend |
| Mar 15, 2018 | $0.111 | OrdinaryDividend |
| Dec 15, 2017 | $0.138 | OrdinaryDividend |
| Sep 15, 2017 | $0.128 | OrdinaryDividend |
| Jun 15, 2017 | $0.128 | OrdinaryDividend |
| Mar 15, 2017 | $0.126 | OrdinaryDividend |
| Dec 15, 2016 | $0.146 | OrdinaryDividend |
| Sep 15, 2016 | $0.149 | OrdinaryDividend |
| Jun 15, 2016 | $0.154 | OrdinaryDividend |
| Mar 15, 2016 | $0.138 | OrdinaryDividend |
| Dec 15, 2015 | $0.177 | OrdinaryDividend |
| Sep 15, 2015 | $0.156 | OrdinaryDividend |
| Jun 15, 2015 | $0.152 | OrdinaryDividend |
| Mar 16, 2015 | $0.153 | OrdinaryDividend |
| Dec 15, 2014 | $0.183 | OrdinaryDividend |
| Dec 15, 2014 | $0.017 | CapitalGainLongTerm |
| Sep 15, 2014 | $0.159 | OrdinaryDividend |
| Jun 16, 2014 | $0.146 | OrdinaryDividend |
| Mar 17, 2014 | $0.099 | OrdinaryDividend |
| Dec 16, 2013 | $0.164 | OrdinaryDividend |
| Dec 16, 2013 | $0.008 | CapitalGainShortTerm |
| Sep 16, 2013 | $0.108 | OrdinaryDividend |
| Jun 17, 2013 | $0.160 | OrdinaryDividend |
| Mar 15, 2013 | $0.124 | OrdinaryDividend |
| Dec 17, 2012 | $0.206 | OrdinaryDividend |
| Sep 17, 2012 | $0.152 | OrdinaryDividend |
| Jun 15, 2012 | $0.154 | OrdinaryDividend |
| Mar 15, 2012 | $0.118 | OrdinaryDividend |
| Dec 15, 2011 | $0.210 | OrdinaryDividend |
| Dec 15, 2011 | $0.042 | CapitalGainShortTerm |
| Dec 15, 2011 | $0.064 | CapitalGainLongTerm |
| Sep 15, 2011 | $0.178 | OrdinaryDividend |
| Jun 15, 2011 | $0.160 | OrdinaryDividend |
| Mar 15, 2011 | $0.098 | OrdinaryDividend |
| Dec 15, 2010 | $0.199 | OrdinaryDividend |
| Dec 15, 2010 | $0.095 | CapitalGainShortTerm |
| Dec 15, 2010 | $0.041 | CapitalGainLongTerm |
| Sep 29, 2010 | $0.159 | OrdinaryDividend |
| Jun 29, 2010 | $0.167 | OrdinaryDividend |
| Mar 30, 2010 | $0.138 | OrdinaryDividend |
| Dec 30, 2009 | $0.220 | OrdinaryDividend |
| Dec 30, 2009 | $0.040 | CapitalGainShortTerm |
| Sep 29, 2009 | $0.173 | OrdinaryDividend |
| Jun 29, 2009 | $0.181 | OrdinaryDividend |
| Mar 30, 2009 | $0.112 | OrdinaryDividend |
| Dec 30, 2008 | $0.170 | OrdinaryDividend |
| Sep 29, 2008 | $0.152 | OrdinaryDividend |
| Jun 27, 2008 | $0.144 | OrdinaryDividend |
| Mar 28, 2008 | $0.142 | OrdinaryDividend |
| Dec 31, 2007 | $0.138 | OrdinaryDividend |
| Dec 31, 2007 | $0.048 | CapitalGainShortTerm |
| Dec 31, 2007 | $0.019 | CapitalGainLongTerm |
| Sep 28, 2007 | $0.157 | OrdinaryDividend |
| Jun 29, 2007 | $0.146 | OrdinaryDividend |
| Mar 30, 2007 | $0.130 | OrdinaryDividend |
| Dec 29, 2006 | $0.011 | CapitalGainShortTerm |
| Dec 29, 2006 | $0.009 | CapitalGainLongTerm |
| Dec 29, 2006 | $0.141 | OrdinaryDividend |
| Sep 29, 2006 | $0.141 | OrdinaryDividend |
| Jun 30, 2006 | $0.148 | OrdinaryDividend |
| Mar 31, 2006 | $0.185 | OrdinaryDividend |
| Dec 30, 2005 | $0.250 | OrdinaryDividend |
| Dec 30, 2005 | $0.099 | CapitalGainShortTerm |
| Dec 30, 2005 | $0.034 | CapitalGainLongTerm |
| Sep 30, 2005 | $0.153 | OrdinaryDividend |
| Jun 30, 2005 | $0.148 | OrdinaryDividend |
| Mar 31, 2005 | $0.039 | OrdinaryDividend |
| Dec 31, 2004 | $0.216 | OrdinaryDividend |
| Dec 31, 2004 | $0.085 | CapitalGainShortTerm |
| Dec 31, 2004 | $0.091 | CapitalGainLongTerm |
| Sep 30, 2004 | $0.129 | OrdinaryDividend |
| Jun 30, 2004 | $0.127 | OrdinaryDividend |
| Mar 31, 2004 | $0.105 | OrdinaryDividend |
| Dec 31, 2003 | $0.176 | OrdinaryDividend |
| Dec 31, 2003 | $0.184 | CapitalGainShortTerm |
| Dec 31, 2003 | $0.001 | CapitalGainLongTerm |
| Sep 30, 2003 | $0.156 | OrdinaryDividend |
| Jun 30, 2003 | $0.157 | OrdinaryDividend |
| Mar 31, 2003 | $0.146 | OrdinaryDividend |
| Dec 31, 2002 | $0.111 | OrdinaryDividend |
| Dec 31, 2002 | $0.004 | CapitalGainShortTerm |
OSTIX - Fund Manager Analysis
Managers
Carl Kaufman
Start Date
Tenure
Tenure Rank
Aug 30, 2002
19.76
19.8%
Mr. Carl P. Kaufman serves as Co-President, Co-Chief Executive Officer, Chief Investment Officer - Strategic Income, Portfolio Manager and Managing Director – Fixed Income for Osterweis Capital Management, Inc. and Osterweis Capital Management, LLC. He joined the Osterweis Capital Management, Inc. as a Portfolio Manager/Analyst in 2002. Prior to working at the Osterweis Capital Management, Inc., Mr. Kaufman worked for Robertson, Stephens and Co., a financial services company, from May 1999 to April 2002. Prior to that, Mr. Kaufman worked for 19 years at Merrill Lynch, where he specialized in convertible and equity securities sales and trading. Mr. Kaufman graduated from Harvard University and attended New York University Graduate School of Business Administration. He is a principal of Osterweis Capital Management.
Bradley Kane
Start Date
Tenure
Tenure Rank
Jun 30, 2013
8.92
8.9%
Mr. Bradley M. Kane serves as Vice President and Assistant Portfolio Manager for Osterweis Capital Management Inc. and Osterweis Capital Management LLC. Prior to joining the Osterweis Capital Management, LLC in 2013, Mr. Kane was a Portfolio Manager and Analyst at Newfleet Asset Management, where he managed both high yield and leveraged loan portfolios. Before that, he was a Vice President at GSC Partnersfrom 2000 to 2002 , focusing on management of high yield and collateralized debt obligations. Earlier in his career, he managed high yield assets as a Vice President at Mitchell Hutchins Asset Management. Bradley Kane graduated from Lehigh University (B.S. in Business & Economics) and is a principal of Osterweis Capital Management
Craig Manchuck
Start Date
Tenure
Tenure Rank
Feb 06, 2017
5.32
5.3%
Mr. Craig Manchuck serves as a Vice President and Portfolio Manager for the Adviser and Osterweis Capital Management, Inc. (an affiliate of the Adviser). Prior to joining Osterweis Capital Management in 2017, Mr. Manchuck was a Managing Director of Fixed Income at Stifel Nicolaus from 2013 to 2016 and Knight Capital from 2008-2013, where he was responsible for sales and origination of high yield bonds, leveraged loans and post reorg equities. Prior to that from 2000 to 2008, Mr. Manchuck was the Executive Director for Convertible Securities and then High Yield/Distressed Securities at UBS. He has previous experience in Convertible Securities Sales at Donaldson, Lufkin & Jenrette, SBC Warburg and Merrill Lynch.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.31 | 8.17 |
