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Trending ETFs

Virtus Seix High Grade Municipal Bond Fund

mutual fund
SFLTX
Payout Change
Pending
Price as of:
$11.11 +0.0 +0.0%
primary theme
Municipal Bond
share class
SFLTX (Mutual Fund)

Virtus Seix High Grade Municipal Bond Fund

Payout Change
Pending
Price as of:
$11.11 +0.0 +0.0%
primary theme
Municipal Bond
share class
SFLTX (Mutual Fund)

Virtus Seix High Grade Municipal Bond Fund

Payout Change
Pending
Price as of:
$11.11 +0.0 +0.0%
primary theme
Municipal Bond
share class

Name

As of 06/21/2024

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

$11.11

$34.9 M

2.89%

$0.32

1.05%

Vitals

YTD Return

-0.4%

1 yr return

2.8%

3 Yr Avg Return

-1.1%

5 Yr Avg Return

1.1%

Net Assets

$34.9 M

Holdings in Top 10

39.2%

52 WEEK LOW AND HIGH

$11.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.05%

SALES FEES

Front Load 2.75%

Deferred Load N/A

TRADING FEES

Turnover 48.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$100


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/21/2024

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

$11.11

$34.9 M

2.89%

$0.32

1.05%

SFLTX - Profile

Distributions

  • YTD Total Return -0.4%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 0.91%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Virtus Seix High Grade Municipal Bond Fund
  • Fund Family Name
    Virtus Funds
  • Inception Date
    Jul 18, 2017
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ronald Schwartz

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in investment grade municipal securities, including securities subject to the U.S. federal alternative minimum tax, with income exempt from regular U.S. federal income tax. The fund may invest its remaining assets in

cash, cash equivalents and certain taxable debt instruments. There are no limits on the fund’s effective maturity or on the remaining maturities of individual securities in which the fund may invest. As a result of its investment strategy, the fund’s portfolio turnover rate may be 100% or more.

In selecting investments for purchase and sale, the subadviser tries to manage risk as much as possible. Based on the subadviser’s analysis of municipalities, credit risk, market trends and investment cycles, the subadviser attempts to invest more of the fund’s assets in undervalued municipal securities and less in overvalued municipal securities taking into consideration maturity, sector, credit, state and supply and demand levels.

The subadviser also attempts to identify and invest in municipal issuers with improving credit and avoid those with deteriorating credit. The fund invests in securities rated investment grade by at least one nationally recognized statistical rating organization or unrated securities that the subadviser believes are of comparable quality. The subadviser may retain securities if the rating of the security falls below investment grade and the subadviser deems retention of the security to be in the best interests of the fund.

In addition, to implement its investment strategy, the fund may buy or sell derivative instruments (such as treasury futures) to use as part of a strategy designed to reduce exposure to other risks, such as interest rate or credit risks.

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SFLTX - Performance

Return Ranking - Trailing

Period SFLTX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -3.1% 17.4% 89.99%
1 Yr 2.8% -2.2% 30.5% 79.52%
3 Yr -1.1%* -11.1% 2.8% 53.97%
5 Yr 1.1%* -6.4% 1102.0% 23.31%
10 Yr N/A* -0.6% 248.4% 20.95%

* Annualized

Return Ranking - Calendar

Period SFLTX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -1.4% 41.0% 15.64%
2022 -10.5% -39.7% 0.3% 40.22%
2021 -1.9% -5.6% 6.9% 97.14%
2020 3.1% -2.6% 310.0% 6.80%
2019 3.7% 0.0% 26.0% 52.58%

Total Return Ranking - Trailing

Period SFLTX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -3.1% 17.4% 89.99%
1 Yr 2.8% -2.2% 30.5% 79.52%
3 Yr -1.1%* -11.1% 2.8% 53.97%
5 Yr 1.1%* -6.4% 1102.0% 23.31%
10 Yr N/A* -0.6% 248.4% 28.91%

* Annualized

Total Return Ranking - Calendar

Period SFLTX Return Category Return Low Category Return High Rank in Category (%)
2023 6.8% -1.3% 41.0% 22.61%
2022 -7.6% -39.7% 1.1% 32.89%
2021 2.6% -4.8% 23761504.0% 21.94%
2020 8.7% -1.5% 17057.9% 2.38%
2019 7.8% 0.2% 3514.6% 17.74%

NAV & Total Return History


SFLTX - Holdings

Concentration Analysis

SFLTX Category Low Category High SFLTX % Rank
Net Assets 34.9 M 3.22 M 71.9 B 95.64%
Number of Holdings 40 2 13067 97.73%
Net Assets in Top 10 12.5 M -317 M 3.56 B 93.24%
Weighting of Top 10 39.20% 2.0% 100.2% 5.27%

Top 10 Holdings

  1. Pennsylvania Economic Development Financing Authority 5.27%
  2. Pennsylvania Economic Development Financing Authority 4.76%
  3. Energy Northwest 4.54%
  4. Maryland Stadium Authority 3.64%
  5. City of Jacksonville FL 3.56%
  6. City of New York NY 3.54%
  7. E-470 Public Highway Authority 3.50%
  8. Pennsylvania Turnpike Commission 3.49%
  9. Idaho Housing Finance Association 3.49%
  10. Texas Water Development Board 3.41%

Asset Allocation

Weighting Return Low Return High SFLTX % Rank
Bonds
96.23% 0.00% 150.86% 82.01%
Cash
3.77% -50.86% 46.80% 15.33%
Stocks
0.00% 0.00% 99.81% 52.92%
Preferred Stocks
0.00% 0.00% 0.56% 45.81%
Other
0.00% -3.18% 33.35% 50.49%
Convertible Bonds
0.00% 0.00% 0.93% 45.86%

Bond Sector Breakdown

Weighting Return Low Return High SFLTX % Rank
Municipal
95.39% 44.39% 100.00% 79.06%
Derivative
0.00% -3.18% 19.67% 48.15%
Cash & Equivalents
0.00% 0.00% 46.24% 76.35%
Securitized
0.00% 0.00% 5.93% 46.90%
Corporate
0.00% 0.00% 9.41% 55.32%
Government
0.00% 0.00% 52.02% 50.10%

Bond Geographic Breakdown

Weighting Return Low Return High SFLTX % Rank
US
96.23% 0.00% 142.23% 79.99%
Non US
0.00% 0.00% 23.89% 48.28%

SFLTX - Expenses

Operational Fees

SFLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.05% 0.01% 20.65% 27.89%
Management Fee 0.50% 0.00% 1.20% 82.60%
12b-1 Fee 0.15% 0.00% 1.00% 24.69%
Administrative Fee 0.10% 0.01% 0.44% 38.21%

Sales Fees

SFLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.75% 0.50% 4.75% 74.50%
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

SFLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

SFLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 48.00% 0.00% 283.00% 92.01%

SFLTX - Distributions

Dividend Yield Analysis

SFLTX Category Low Category High SFLTX % Rank
Dividend Yield 2.89% 0.00% 14.51% 58.31%

Dividend Distribution Analysis

SFLTX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

SFLTX Category Low Category High SFLTX % Rank
Net Income Ratio 0.91% -0.53% 5.33% 89.35%

Capital Gain Distribution Analysis

SFLTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

View More +

SFLTX - Fund Manager Analysis

Managers

Ronald Schwartz


Start Date

Tenure

Tenure Rank

Jan 18, 1994

28.38

28.4%

Ronald Schwartz joined Seix Investment Advisors LLC’ predecessor firm in 1988 and currently serves as Senior Portfolio Manager and Managing Director and leads the Investment Grade Tax-Exempt group at Seix Investment Advisors LLC. He is a member of the Seix Investment Policy Group, which determines firm-wide asset allocation policy. He has worked in investment management since 1982.

Dusty Self


Start Date

Tenure

Tenure Rank

Jun 07, 2018

3.98

4.0%

Dusty Self is a Senior Portfolio Manager and Managing Director at Seix Investment Advisors LLC and provides analysis for all the Investment Grade Tax-Exempt Bond Funds. Ms. Self began her career as a portfolio specialist and then as a performance analyst at Seix Investment Advisors’ predecessor firm. She has worked in investment management since 1992.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58