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 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
8.3%
1 yr return
9.5%
3 Yr Avg Return
6.3%
5 Yr Avg Return
5.2%
Net Assets
$1.47 B
Holdings in Top 10
10.3%
Expense Ratio 0.65%
Front Load N/A
Deferred Load N/A
Turnover 72.00%
Redemption Fee N/A
Standard (Taxable)
$2,500,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a combination of first- and second-lien senior floating rate loans and other floating rate debt instruments, including both secured loans and “covenant lite” loans which have few or no financial maintenance covenants that would require a borrower to maintain certain financial metrics. These loans are loans made by banks and other large financial institutions to various companies and are senior in the borrowing companies’ capital structure. Coupon rates are generally floating, not fixed, and are tied to a benchmark lending rate or set at a specified floor, whichever is higher.
The fund invests all or substantially all of its assets in first- and second-lien senior floating rate loans, or debt instruments that are rated below investment grade by Moody’s and Standard & Poor’s (sometimes referred to as “junk bonds”) or in comparable unrated instruments. The fund may also invest up to 20% of its net assets in any combination of junior debt instruments or instruments with a lien on collateral lower than a senior claim on collateral, high yield fixed-rate bonds, investment grade fixed income debt obligations, asset-backed securities (such as special purpose trusts investing in bank loans), and short-term investments, including money market securities and repurchase agreements. The fund may invest a portion of its assets in instruments that are restricted as to resale.
In selecting investments for purchase and sale, the subadviser will emphasize loans and instruments which are within the segment of the high yield market it has targeted, which are loans and instruments rated below investment grade or unrated loans and instruments that the subadviser believes are of comparable quality. The fund may invest up to 20% of its total assets in senior loans made to non-U.S. borrowers provided that no more than 5% of the portfolio’s loans are non-U.S. dollar denominated. There are no limits on the fund’s average-weighted maturity or on the remaining maturities of individual instruments in which the fund may invest. The fund may also engage in certain hedging transactions.
In order to meet short-term liquidity needs, the fund employs a variety of techniques, such as investing in highly-liquid fixed income instruments and holding a portion of its assets in cash. Although not a principal investment strategy, the fund may, under certain market conditions, borrow an amount up to 33 1/3% of its total assets (including the amount borrowed) for investment purposes, to meet redemption requests and for temporary, extraordinary or emergency purposes.
Some types of senior loans in which the fund may invest require that an open loan for a specific amount be continually offered to a borrower. These types of senior loans are commonly referred to as revolvers. Because revolvers contractually obligate the lender (and therefore those with an interest in the loan) to fund the revolving portion of the loan at the borrower’s discretion, the fund must have funds sufficient to cover its contractual obligation. Therefore, the fund will maintain, on a daily basis, high-quality, liquid assets in an amount at least equal in value to its contractual obligation to fulfill the revolving senior loan. The fund will not encumber any assets that are otherwise encumbered.
In addition, to implement its investment strategy, the fund may buy or sell derivative instruments (such as swaps, including credit default swaps, futures, credit linked notes, options and warrants) to use as a substitute for a purchase or sale of a position in the underlying assets and/or as part of a strategy designed to reduce exposure to other risks, such as interest rate or credit risks. The fund may count the value of certain derivatives with floating rate loan or high yield bond characteristics towards its policy to invest, under normal circumstances, at least 80% of its net assets in a combination of first- and second-lien senior floating rate loans and other floating rate debt instruments.
Period | SFRZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.3% | -3.9% | 10.1% | 25.66% |
1 Yr | 9.5% | -3.7% | 14.0% | 22.64% |
3 Yr | 6.3%* | -7.0% | 8.3% | 17.90% |
5 Yr | 5.2%* | -6.1% | 38.4% | 25.73% |
10 Yr | N/A* | -2.2% | 19.8% | 33.65% |
* Annualized
Period | SFRZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.3% | -12.0% | 11.1% | 75.09% |
2022 | -5.9% | -22.9% | 5.1% | 21.32% |
2021 | 1.7% | -12.2% | 11.1% | 24.21% |
2020 | -3.6% | -14.1% | 289.8% | 73.14% |
2019 | 1.2% | -8.1% | 7.5% | 83.40% |
Period | SFRZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.3% | -3.9% | 10.1% | 25.66% |
1 Yr | 9.5% | -3.7% | 14.0% | 22.64% |
3 Yr | 6.3%* | -7.0% | 8.3% | 17.90% |
5 Yr | 5.2%* | -6.1% | 38.4% | 25.73% |
10 Yr | N/A* | -2.2% | 19.8% | 31.10% |
* Annualized
Period | SFRZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.9% | -12.0% | 22.1% | 36.60% |
2022 | -0.4% | -22.9% | 5.1% | 7.75% |
2021 | 6.0% | -10.2% | 11.1% | 20.63% |
2020 | 1.1% | -14.1% | 306.9% | 64.88% |
2019 | 6.8% | -3.6% | 10.5% | 69.79% |
SFRZX | Category Low | Category High | SFRZX % Rank | |
---|---|---|---|---|
Net Assets | 1.47 B | 29.9 M | 13.5 B | 30.12% |
Number of Holdings | 293 | 2 | 2051 | 69.26% |
Net Assets in Top 10 | 144 M | -191 M | 2.37 B | 39.30% |
Weighting of Top 10 | 10.33% | 5.2% | 100.7% | 72.66% |
Weighting | Return Low | Return High | SFRZX % Rank | |
---|---|---|---|---|
Bonds | 96.50% | 0.00% | 161.82% | 35.41% |
Cash | 2.29% | -61.90% | 16.36% | 57.20% |
Stocks | 1.21% | 0.00% | 100.74% | 51.36% |
Convertible Bonds | 0.28% | 0.00% | 5.51% | 13.73% |
Other | 0.00% | -52.39% | 26.58% | 53.31% |
Preferred Stocks | 0.00% | -3.99% | 7.54% | 56.81% |
Weighting | Return Low | Return High | SFRZX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | 69.84% |
Technology | 0.00% | 0.00% | 100.00% | 69.84% |
Real Estate | 0.00% | 0.00% | 48.61% | 53.97% |
Industrials | 0.00% | 0.00% | 100.00% | 75.13% |
Healthcare | 0.00% | 0.00% | 100.00% | 55.03% |
Financial Services | 0.00% | 0.00% | 89.61% | 65.08% |
Energy | 0.00% | 0.00% | 100.00% | 11.11% |
Communication Services | 0.00% | 0.00% | 100.00% | 85.19% |
Consumer Defense | 0.00% | 0.00% | 100.00% | 70.90% |
Consumer Cyclical | 0.00% | 0.00% | 97.66% | 42.33% |
Basic Materials | 0.00% | 0.00% | 1.36% | 59.26% |
Weighting | Return Low | Return High | SFRZX % Rank | |
---|---|---|---|---|
US | 1.21% | -0.01% | 100.74% | 51.36% |
Non US | 0.00% | 0.00% | 0.68% | 47.47% |
Weighting | Return Low | Return High | SFRZX % Rank | |
---|---|---|---|---|
Corporate | 95.61% | 0.00% | 99.80% | 19.61% |
Derivative | 0.00% | -11.46% | 0.67% | 36.96% |
Cash & Equivalents | 0.00% | 0.00% | 25.03% | 87.94% |
Securitized | 0.00% | 0.00% | 91.68% | 63.14% |
Municipal | 0.00% | 0.00% | 0.47% | 37.25% |
Government | 0.00% | 0.00% | 3.18% | 47.45% |
Weighting | Return Low | Return High | SFRZX % Rank | |
---|---|---|---|---|
US | 96.50% | 0.00% | 124.50% | 23.74% |
Non US | 0.00% | 0.00% | 63.23% | 61.09% |
SFRZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.65% | 0.03% | 5.51% | 93.56% |
Management Fee | 0.43% | 0.00% | 1.89% | 3.41% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.10% | 0.02% | 0.27% | 44.44% |
SFRZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
SFRZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 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.
SFRZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 72.00% | 4.00% | 180.00% | 56.61% |
SFRZX | Category Low | Category High | SFRZX % Rank | |
---|---|---|---|---|
Dividend Yield | 8.82% | 0.00% | 11.13% | 6.79% |
SFRZX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
SFRZX | Category Low | Category High | SFRZX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.76% | 1.77% | 9.82% | 40.32% |
SFRZX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Oct 31, 2024 | $0.058 | OrdinaryDividend |
Sep 30, 2024 | $0.054 | OrdinaryDividend |
Aug 30, 2024 | $0.062 | OrdinaryDividend |
Jul 31, 2024 | $0.060 | OrdinaryDividend |
Jun 30, 2024 | $0.055 | OrdinaryDividend |
Apr 30, 2024 | $0.061 | OrdinaryDividend |
Mar 28, 2024 | $0.063 | OrdinaryDividend |
Feb 28, 2024 | $0.063 | OrdinaryDividend |
Jan 31, 2024 | $0.063 | OrdinaryDividend |
Dec 29, 2023 | $0.065 | OrdinaryDividend |
Nov 30, 2023 | $0.065 | OrdinaryDividend |
Oct 31, 2023 | $0.063 | OrdinaryDividend |
Sep 29, 2023 | $0.061 | OrdinaryDividend |
Aug 31, 2023 | $0.062 | OrdinaryDividend |
Jul 31, 2023 | $0.058 | OrdinaryDividend |
Jun 30, 2023 | $0.066 | OrdinaryDividend |
May 31, 2023 | $0.063 | OrdinaryDividend |
Apr 28, 2023 | $0.056 | OrdinaryDividend |
Mar 31, 2023 | $0.060 | OrdinaryDividend |
Feb 28, 2023 | $0.050 | OrdinaryDividend |
Jan 31, 2023 | $0.051 | OrdinaryDividend |
Dec 30, 2022 | $0.055 | OrdinaryDividend |
Nov 30, 2022 | $0.046 | OrdinaryDividend |
Oct 31, 2022 | $0.042 | OrdinaryDividend |
Sep 30, 2022 | $0.043 | OrdinaryDividend |
Aug 31, 2022 | $0.040 | OrdinaryDividend |
Jul 29, 2022 | $0.036 | OrdinaryDividend |
Jun 30, 2022 | $0.030 | OrdinaryDividend |
May 31, 2022 | $0.029 | OrdinaryDividend |
Apr 29, 2022 | $0.027 | OrdinaryDividend |
Mar 31, 2022 | $0.027 | OrdinaryDividend |
Feb 28, 2022 | $0.021 | OrdinaryDividend |
Jan 31, 2022 | $0.026 | OrdinaryDividend |
Dec 31, 2021 | $0.033 | OrdinaryDividend |
Nov 30, 2021 | $0.026 | OrdinaryDividend |
Oct 29, 2021 | $0.025 | OrdinaryDividend |
Sep 30, 2021 | $0.023 | OrdinaryDividend |
Aug 31, 2021 | $0.027 | OrdinaryDividend |
Jul 30, 2021 | $0.026 | OrdinaryDividend |
Jun 30, 2021 | $0.024 | OrdinaryDividend |
May 28, 2021 | $0.023 | OrdinaryDividend |
Apr 30, 2021 | $0.024 | OrdinaryDividend |
Mar 31, 2021 | $0.026 | OrdinaryDividend |
Feb 26, 2021 | $0.023 | OrdinaryDividend |
Jan 29, 2021 | $0.025 | OrdinaryDividend |
Dec 31, 2020 | $0.032 | OrdinaryDividend |
Nov 30, 2020 | $0.026 | OrdinaryDividend |
Oct 30, 2020 | $0.029 | OrdinaryDividend |
Sep 30, 2020 | $0.026 | OrdinaryDividend |
Aug 31, 2020 | $0.024 | OrdinaryDividend |
Jul 31, 2020 | $0.026 | OrdinaryDividend |
Jun 30, 2020 | $0.025 | OrdinaryDividend |
May 29, 2020 | $0.026 | OrdinaryDividend |
Apr 30, 2020 | $0.027 | OrdinaryDividend |
Mar 31, 2020 | $0.032 | OrdinaryDividend |
Feb 28, 2020 | $0.027 | OrdinaryDividend |
Jan 31, 2020 | $0.034 | OrdinaryDividend |
Dec 31, 2019 | $0.042 | OrdinaryDividend |
Nov 29, 2019 | $0.033 | OrdinaryDividend |
Oct 31, 2019 | $0.037 | OrdinaryDividend |
Sep 30, 2019 | $0.033 | OrdinaryDividend |
Aug 30, 2019 | $0.039 | OrdinaryDividend |
Jul 31, 2019 | $0.039 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Mar 01, 2006
16.26
16.3%
George is the head of the firm’s leveraged finance platform. In this capacity, he provides strategic oversight of high yield bond portfolio management activities as well as serving as senior portfolio manager for all leveraged loan portfolios. George joined Seix in 2001 as head of leveraged finance research, and subsequently launched the Leveraged Loan Strategy in 2005. Since inception of this strategy, this has expanded to include all leveraged loan portfolios and CLOs. Prior to joining Seix he was a senior high yield research analyst at J.P. Morgan Securities. George received both a Bachelor of Science degree in Finance and Accounting and a Master of Business Administration degree in Finance from New York University.
Start Date
Tenure
Tenure Rank
Aug 01, 2011
10.84
10.8%
Vince is an experienced leveraged finance research analyst focused on the media and technology industries and became a portfolio manager on the Leveraged Loan Strategy in October of 2011. Before joining Seix he was the director of research for Assurant, Inc., covering the telecommunications, cable/media, utility and broadcasting industries. Vince began his career at TD Securities advancing to a senior high yield research analyst, where he focused on US and Canadian wireless carriers. Vince received a B.S. degree in Finance from New York University and is a CFA Charterholder.
Start Date
Tenure
Tenure Rank
Aug 30, 2019
2.75
2.8%
Eric is the senior leveraged loan trader on the leveraged finance team. Eric joined Seix as a trade flow administrator in 2000 and gained experience as a junior trader in the investment grade group from 2001 to 2006 before moving into his current position in the high yield leveraged loan group. Eric received a B.S. degree in Computer Operations from Seton Hall University.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 21.18 | 6.08 | 3.25 |
Dividend Investing Ideas Center
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