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Trending ETFs

RiverPark Short Term High Yield Fund

mutual fund
RPHIX
Payout Change
Pending
Price as of:
$9.7 +0.01 +0.1%
primary theme
High Yield Bond
share class
RPHIX (Mutual Fund)

RiverPark Short Term High Yield Fund

Payout Change
Pending
Price as of:
$9.7 +0.01 +0.1%
primary theme
High Yield Bond
share class
RPHIX (Mutual Fund)

RiverPark Short Term High Yield Fund

Payout Change
Pending
Price as of:
$9.7 +0.01 +0.1%
primary theme
High Yield Bond
share class

Name

As of 10/04/2024

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

$9.70

$787 M

6.07%

$0.59

0.92%

Vitals

YTD Return

4.5%

1 yr return

6.5%

3 Yr Avg Return

4.7%

5 Yr Avg Return

3.5%

Net Assets

$787 M

Holdings in Top 10

33.2%

52 WEEK LOW AND HIGH

$9.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.92%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 158.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$50,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/04/2024

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

$9.70

$787 M

6.07%

$0.59

0.92%

RPHIX - Profile

Distributions

  • YTD Total Return 4.5%
  • 3 Yr Annualized Total Return 4.7%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.95%
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    RiverPark Short Term High Yield Fund
  • Fund Family Name
    RiverPark Funds
  • Inception Date
    Sep 30, 2010
  • Shares Outstanding
    96356851
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Sherman

Fund Description

RiverPark Short Term seeks high current income and capital appreciation consistent with the preservation of capital by investing in short term debt, securities issued by the U.S. Government, its agencies and instrumentalities, preferred stock, special purpose acquisition companies (“SPACs”), convertible bonds, bank loans and high yield bonds (collectively, “Securities”), that Cohanzick Management, LLC (“Cohanzick”), RiverPark Short Term’s sub-adviser, deems appropriate for the Fund’s investment objective. Under normal circumstances, RiverPark Short Term will invest no less than 80% of its net assets (plus the amount of any borrowings for investment purposes) in high yield Securities rated BB or below by a Rating Agency or, if unrated, determined by Cohanzick to be of comparable quality. The Fund will maintain a dollar-weighted average effective maturity of no more than three years. However, the Fund may invest up to 25% of its assets in Securities that have not been called or tendered having a maturity date in excess of three years. The effective maturity of a Security will be defined as the shorter of the contractual maturity of a security or the date Cohanzick reasonably believes that because of a Qualifying Feature (as described below) a Security will be redeemed earlier than the contractual maturity date. “Qualifying Feature” means any of the following: (a) an announcement, or when Cohanzick reasonably believes such an announcement will be made, of the issuer such as an issuer announcement of an early redemption; (b) a relevant contractual feature of the Security, such as provisions allowing holders a mandatory put date; (c) a specific attribute of such Security such as contractual sinking fund requirements and/or cash flow sweeps.

In addition to considering economic factors such as the effect of interest rates on RiverPark Short Term’s investments, Cohanzick applies a “bottom up” approach in choosing investments. This means that Cohanzick looks at Securities one at a time to determine if a Security is an attractive investment opportunity and if it is consistent with the Fund’s investment objective. If Cohanzick is unable to find such investments, the Fund’s uninvested assets may be held in cash or similar investments, subject to the Fund’s specific investment objective. Securities are generally held in the Fund’s portfolio until maturity or effective maturity. However, a Security may be sold prior to maturity. For example, a Security may be sold prior to maturity in light of a corporate action or announcement affecting the issuer. In addition, a Security may be purchased at a discount and/or sold prior to maturity where Cohanzick believes it is advantageous to do so.

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RPHIX - Performance

Return Ranking - Trailing

Period RPHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -5.4% 15.5% 93.37%
1 Yr 6.5% 0.0% 19.6% 97.90%
3 Yr 4.7%* -14.8% 21.0% 5.96%
5 Yr 3.5%* -11.8% 37.6% 69.30%
10 Yr 3.0%* -5.1% 20.1% 81.13%

* Annualized

Return Ranking - Calendar

Period RPHIX Return Category Return Low Category Return High Rank in Category (%)
2023 0.6% -4.7% 14.3% 97.73%
2022 -0.5% -33.4% 3.6% 0.33%
2021 0.0% -8.4% 8.2% 50.85%
2020 -0.5% -13.2% 302.7% 57.27%
2019 -0.1% -4.4% 13.3% 97.48%

Total Return Ranking - Trailing

Period RPHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.5% -5.4% 15.5% 93.37%
1 Yr 6.5% 0.0% 19.6% 97.90%
3 Yr 4.7%* -14.8% 21.0% 5.96%
5 Yr 3.5%* -11.8% 37.6% 69.30%
10 Yr 3.0%* -5.1% 20.1% 81.13%

* Annualized

Total Return Ranking - Calendar

Period RPHIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% -4.7% 18.7% 95.94%
2022 3.0% -33.4% 47.8% 1.15%
2021 2.0% -8.4% 12.4% 92.86%
2020 1.9% -9.6% 325.6% 91.07%
2019 2.8% -3.8% 19.4% 98.92%

NAV & Total Return History


RPHIX - Holdings

Concentration Analysis

RPHIX Category Low Category High RPHIX % Rank
Net Assets 787 M 3.13 M 23.6 B 40.45%
Number of Holdings 70 2 3879 95.93%
Net Assets in Top 10 259 M -492 M 5.25 B 24.39%
Weighting of Top 10 33.18% 4.2% 146.0% 7.32%

Top 10 Holdings

  1. NORTHRIVER MIDSTREAM FINANCE LP 144A 5.625000% 02/15/2026 7.35%
  2. SEALED AIR CORP 144A 5.125000% 12/01/2024 3.33%
  3. BLUENORD ASA 144A 9.000000% 06/17/2026 3.16%
  4. MODIVCARE INC 144A 5.875000% 11/15/2025 2.97%
  5. TURNING POINT BRANDS INC 2.500000% 07/15/2024 2.94%
  6. CROWNROCK LP / CROWNROCK FINANCE INC 144A 5.625000% 10/15/2025 2.94%
  7. JAZZ INVESTMENTS I LTD 1.500000% 08/15/2024 2.91%
  8. OPNET SPA 144A VARIABLE RATE 02/09/2026 2.63%
  9. BLACKLINE INC 0.125000% 08/01/2024 2.50%
  10. HAT HOLDINGS I LLC / HAT HOLDINGS II LLC 144A 6.000000% 04/15/2025 2.44%

Asset Allocation

Weighting Return Low Return High RPHIX % Rank
Bonds
98.96% 0.00% 145.36% 9.55%
Convertible Bonds
6.49% 0.00% 17.89% 2.28%
Cash
0.77% -52.00% 48.02% 88.78%
Preferred Stocks
0.17% 0.00% 4.97% 33.33%
Other
0.11% -39.08% 99.96% 33.33%
Stocks
0.00% 0.00% 99.64% 73.14%

Stock Sector Breakdown

Weighting Return Low Return High RPHIX % Rank
Financial Services
99.82% 0.00% 100.00% 4.09%
Technology
0.18% 0.00% 33.17% 27.78%
Utilities
0.00% 0.00% 100.00% 73.39%
Real Estate
0.00% 0.00% 86.71% 70.47%
Industrials
0.00% 0.00% 93.12% 74.27%
Healthcare
0.00% 0.00% 22.17% 69.01%
Energy
0.00% 0.00% 100.00% 90.94%
Communication Services
0.00% 0.00% 99.99% 83.63%
Consumer Defense
0.00% 0.00% 100.00% 71.35%
Consumer Cyclical
0.00% 0.00% 100.00% 78.95%
Basic Materials
0.00% 0.00% 100.00% 73.98%

Stock Geographic Breakdown

Weighting Return Low Return High RPHIX % Rank
US
0.00% 0.00% 99.64% 71.22%
Non US
0.00% -0.01% 0.83% 67.32%

Bond Sector Breakdown

Weighting Return Low Return High RPHIX % Rank
Corporate
60.70% 0.00% 100.00% 97.39%
Derivative
0.11% -14.19% 42.26% 20.65%
Cash & Equivalents
0.00% 0.00% 48.02% 95.77%
Securitized
0.00% 0.00% 97.24% 79.32%
Municipal
0.00% 0.00% 1.17% 63.68%
Government
0.00% 0.00% 99.07% 72.80%

Bond Geographic Breakdown

Weighting Return Low Return High RPHIX % Rank
US
92.41% 0.00% 126.57% 57.89%
Non US
6.55% 0.00% 96.91% 13.82%

RPHIX - Expenses

Operational Fees

RPHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.92% 0.02% 38.33% 54.55%
Management Fee 0.65% 0.00% 1.75% 77.80%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.11% 0.00% 0.50% 60.85%

Sales Fees

RPHIX 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

RPHIX 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.

RPHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 158.00% 1.00% 255.00% 99.11%

RPHIX - Distributions

Dividend Yield Analysis

RPHIX Category Low Category High RPHIX % Rank
Dividend Yield 6.07% 0.00% 11.76% 68.98%

Dividend Distribution Analysis

RPHIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

RPHIX Category Low Category High RPHIX % Rank
Net Income Ratio 1.95% -2.39% 9.30% 98.51%

Capital Gain Distribution Analysis

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

Distributions History

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RPHIX - Fund Manager Analysis

Managers

David Sherman


Start Date

Tenure

Tenure Rank

Sep 30, 2010

11.67

11.7%

David K. Sherman is the portfolio manager for RiverPark Short Term and RiverPark Strategic Income. Mr. Sherman, is the managing member of Cohanzick. Since 1996, Mr. Sherman, on behalf of Cohanzick Management, LLC , has managed accounts for various clients utilizing investment programs substantially similar to those intended to be used by the Fund. From January 1987 to August 1996, Mr. Sherman held various executive and director positions at Leucadia National Corporation and/or its subsidiaries. From August 1992 to August 1996, Mr. Sherman served as a Vice President of Leucadia with primary responsibility for the oversight of Leucadia's insurance companies' investment portfolios. Mr. Sherman holds a B.S. in Business Administration from Washington University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.3 8.17