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Trending ETFs

Virtus Opportunities Trust - VS Harbor Emerg Mkts Corp Debt Fd USD Cls I

mutual fund
SHCDX
Payout Change
Suspended
Price as of:
$7.94 +0.0 +0.0%
primary theme
Emerging Markets Bond
share class
SHCDX (Mutual Fund)

Virtus Opportunities Trust - VS Harbor Emerg Mkts Corp Debt Fd USD Cls I

Payout Change
Suspended
Price as of:
$7.94 +0.0 +0.0%
primary theme
Emerging Markets Bond
share class
SHCDX (Mutual Fund)

Virtus Opportunities Trust - VS Harbor Emerg Mkts Corp Debt Fd USD Cls I

Payout Change
Suspended
Price as of:
$7.94 +0.0 +0.0%
primary theme
Emerging Markets Bond
share class

Name

As of 06/14/2024

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

Vitals

YTD Return

1.5%

1 yr return

2.8%

3 Yr Avg Return

-2.6%

5 Yr Avg Return

1.4%

Net Assets

$8.03 M

Holdings in Top 10

25.5%

52 WEEK LOW AND HIGH

$7.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 3.46%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 55.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

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

SHCDX - Profile

Distributions

  • YTD Total Return 1.5%
  • 3 Yr Annualized Total Return -2.6%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.99%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Virtus Opportunities Trust - VS Harbor Emerg Mkts Corp Debt Fd USD Cls I
  • Fund Family Name
    Stone Harbor Investment Partner
  • Inception Date
    Jun 01, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Peter Wilby

Fund Description

The Fund normally will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in Emerging Markets Corporate Debt Investments. “Emerging Markets Corporate Debt Investments” are debt instruments, including loans, issued by corporations or other business organizations that are economically tied to an emerging market country. A corporation or other business organization is economically tied to an emerging market country if it issues securities that are principally traded on the country’s securities markets or if it is organized or principally operates in the country, derives a majority of its income from its operations within the country or has a majority of its assets within the country. Emerging Markets Corporate Debt Investments also include derivative instruments used for hedging purposes or to otherwise gain or reduce long or short exposure to Emerging Markets Corporate Debt Investments. For example, the Fund may utilize futures or other derivatives whose return is based on specific Emerging Markets Corporate Debt Investments or indices of such investments. Although the Fund is not limited in the types of derivatives it can use, the Fund currently expects that its derivatives investments will consist primarily of the following instruments and transactions: futures, options, swaps, credit linked notes and credit default swaps. The Fund may use derivatives to a significant extent. The Fund may also invest in sovereign debt securities. The Fund’s investments may be denominated in non-U.S. currencies or in the U.S. dollar.

The Fund considers “emerging market countries” to include countries identified by the World Bank Group as being “low income economies” or which are included in a JPMorgan emerging market bond index. It is anticipated that the Fund will focus most of its investments in Asia, Africa, the Middle East, Latin America and/or the developing countries of Europe. The Fund’s investments may include, among other things, corporate debt securities, sovereign debt securities, structured notes, convertible securities, securities issued by supranational organizations, fixed and floating rate commercial loans, loan participations and assignments, private placements, Rule 144A securities, non-U.S.

currencies, forward currency contracts and other foreign currency transactions and derivatives related to the types of investments listed herein. The Fund seeks capital appreciation through country selection, issuer selection, industry selection, security selection and currency selection.

The Adviser also incorporates relevant environmental, social and governance (“ESG”) factors into its investment analysis.

Credit Quality. The Fund may invest in securities of any credit rating (including unrated securities) and may invest without limit in higher risk, below-investment grade debt securities, commonly referred to as “high yield” securities or “junk bonds.” Such securities may include those that are in default with respect to the payment of principal or interest.

Maturity and Duration. The Adviser normally maintains an average portfolio duration of between 2 and 7 years. However, the Fund’s average duration may be outside this range, and the Fund may invest in securities of any duration and maturity.

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SHCDX - Performance

Return Ranking - Trailing

Period SHCDX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -5.5% 9.1% 56.48%
1 Yr 2.8% -6.0% 21.4% 78.74%
3 Yr -2.6%* -14.6% 4.0% 63.45%
5 Yr 1.4%* -9.2% 6.2% 24.26%
10 Yr 2.8%* -6.2% 4.9% 9.83%

* Annualized

Return Ranking - Calendar

Period SHCDX Return Category Return Low Category Return High Rank in Category (%)
2023 3.4% -10.6% 17.8% 71.10%
2022 -16.4% -29.1% -2.4% 36.08%
2021 -2.6% -24.0% 2.7% 5.28%
2020 1.9% -14.0% 9.7% 34.91%
2019 8.6% -6.4% 13.0% 47.23%

Total Return Ranking - Trailing

Period SHCDX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -5.5% 9.1% 56.48%
1 Yr 2.8% -6.0% 21.4% 78.74%
3 Yr -2.6%* -14.6% 4.0% 63.45%
5 Yr 1.4%* -9.2% 6.2% 24.26%
10 Yr 2.8%* -6.2% 4.9% 9.83%

* Annualized

Total Return Ranking - Calendar

Period SHCDX Return Category Return Low Category Return High Rank in Category (%)
2023 3.4% -0.6% 20.0% 96.68%
2022 -11.8% -27.6% -1.7% 36.77%
2021 1.9% -18.5% 7.4% 3.87%
2020 7.8% -7.8% 18.0% 15.64%
2019 13.9% -3.0% 23.0% 39.48%

NAV & Total Return History


SHCDX - Holdings

Concentration Analysis

SHCDX Category Low Category High SHCDX % Rank
Net Assets 8.03 M 565 K 14.8 B 97.34%
Number of Holdings 131 4 1779 82.39%
Net Assets in Top 10 1.72 M -134 M 1.25 B 98.67%
Weighting of Top 10 25.45% 5.1% 102.0% 30.87%

Top 10 Holdings

  1. ESR Cayman, Ltd. 3.01%
  2. BOC Aviation, Ltd. 2.98%
  3. Gohl Capital, Ltd. 2.91%
  4. Wanda Properties International Co., Ltd. 2.71%
  5. Network i2i, Ltd. 2.59%
  6. State Street Institutional Liquid Reserves Fund - Institutional Class (7-Day SEC Yield) 2.55%
  7. Minejesa Capital BV 2.39%
  8. DP World, Ltd./United Arab Emirates 2.22%
  9. Teva Pharmaceutical Finance Netherlands III BV 2.20%
  10. ENN Clean Energy International Investment, Ltd. 1.90%

Asset Allocation

Weighting Return Low Return High SHCDX % Rank
Bonds
94.65% 0.00% 105.14% 46.84%
Cash
5.35% 0.00% 23.05% 46.18%
Convertible Bonds
2.64% 0.00% 8.47% 7.05%
Stocks
0.00% -0.01% 95.82% 59.80%
Preferred Stocks
0.00% 0.00% 3.04% 42.52%
Other
0.00% -10.19% 87.32% 61.13%

Bond Sector Breakdown

Weighting Return Low Return High SHCDX % Rank
Corporate
88.15% 0.00% 93.26% 5.70%
Government
6.35% 0.00% 99.79% 94.63%
Cash & Equivalents
2.55% 0.00% 23.23% 48.84%
Derivative
0.00% -5.25% 8.09% 54.15%
Securitized
0.00% 0.00% 2.41% 46.31%
Municipal
0.00% 0.00% 0.00% 39.26%

Bond Geographic Breakdown

Weighting Return Low Return High SHCDX % Rank
US
94.65% -42.31% 100.14% 16.61%
Non US
0.00% 0.00% 132.49% 89.70%

SHCDX - Expenses

Operational Fees

SHCDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.46% 0.02% 32.92% 3.33%
Management Fee 0.85% 0.00% 1.10% 87.04%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.65% 46.39%

Sales Fees

SHCDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

SHCDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 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.

SHCDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 55.00% 0.00% 218.00% 47.51%

SHCDX - Distributions

Dividend Yield Analysis

SHCDX Category Low Category High SHCDX % Rank
Dividend Yield 0.00% 0.00% 22.22% 98.01%

Dividend Distribution Analysis

SHCDX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Monthly Monthly Monthly

Net Income Ratio Analysis

SHCDX Category Low Category High SHCDX % Rank
Net Income Ratio 4.99% -2.28% 8.00% 13.27%

Capital Gain Distribution Analysis

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

Distributions History

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SHCDX - Fund Manager Analysis

Managers

Peter Wilby


Start Date

Tenure

Tenure Rank

Jun 01, 2011

11.01

11.0%

Peter founded the team in 1989. Prior to founding Stone Harbor in 2006, Peter was Chief Investment Officer of North American Fixed Income at Citigroup Asset Management, as well as a member of Citigroup Asset Management’s Executive Committee. Additionally, he served as Senior Portfolio Manager responsible for directing investment policy and strategy for all Emerging Markets Debt and High Yield portfolios. Peter was the Head of Fixed Income, a Senior Portfolio Manager for Emerging Markets Debt and High Yield, and a member of the Investment Policy Committee at Salomon Brothers Asset Management. Earlier in his career Peter was at Prudential Investment Co. where he was a Fixed Income Portfolio Manager specializing in High Yield Debt securities and also Director of the Credit Research Unit, responsible for all Corporate and Sovereign Credit Research. He began his career at Deloitte, Haskin & Sells where he served in the Audit and Tax Department. He is a Certified Public Accountant and member of the CFA Institute, the CFA Society New York, and the Council on Foreign Relations. He attained a BBA and MBA in Accounting from Pace University.

James Craige


Start Date

Tenure

Tenure Rank

Jun 01, 2011

11.01

11.0%

James E. Craige, Since December 2018, Co-Chief Investment Officer of Stone Harbor; From April 2006 to December 2018, Portfolio Manager of Stone Harbor; Prior to April 2006, Managing Director and Senior Portfolio Manager for emerging markets debt portfolios at Salomon Brothers Asset Management Inc.; Joined Salomon Brothers Asset Management Inc. in 1992. Craige holds the Chartered Financial Analyst designation.

David Oliver


Start Date

Tenure

Tenure Rank

Jun 01, 2011

11.01

11.0%

David joined the team in 2008. Prior to joining Stone Harbor, David served as a Managing Director for Sales and Trading in Emerging Markets Debt at Citigroup Global Markets. He is a member of the CFA Institute and the CFA Society New York. He attained a BA from Northwestern University, MA from the University of Delaware, and MBA from the Tuck School of Business at Dartmouth College.

William Perry


Start Date

Tenure

Tenure Rank

Sep 30, 2012

9.67

9.7%

William joined the team in 2012. Prior to joining Stone Harbor, William served as an Emerging Markets Corporate Portfolio Manager at Morgan Stanley Investment Management. Prior to Morgan Stanley, William served as a Managing Director/Portfolio Manager in the Global Special Opportunities Group for Latin American Special Situations at JPMorgan/Chase. While at JPMorgan, he also served in a series of roles including Credit Risk Manager for the Global Head of Emerging Markets, Co-Head of Emerging Markets Corporate Research, and as a Vice President for Global Emerging Markets Debt Restructuring, and Latin American Capital Market. Prior to JPMorgan, William served as a Senior Associate in the Investment Banking Group at Bank of America Securities Inc. William began his career as an Associate in the Petroleum Division at Irving Trust Company. He attained a BA in International Relations and Economics from Colgate University and an MBA in Finance from the Columbia Business School.

Kumaran Damodaran


Start Date

Tenure

Tenure Rank

Sep 30, 2015

6.67

6.7%

Kumaran joined the team in 2015. Prior to joining Stone Harbor, Kumaran served as the Lead Emerging Markets Macro Portfolio Manager at GLG Partners in London. Previously, he worked as an Executive Vice President and Emerging Markets Portfolio Manager at PIMCO in Newport Beach. Prior to PIMCO, Kumaran was a Senior Vice President and Trader in Latin American Local Market Rates at Lehman Brothers in New York. Additionally, he served as a Director at Credit Suisse where he held various positions in Emerging Markets Credit, Rates & Currency Derivatives Trading in both London and New York. As a Marshall Scholar and National Science Foundation Graduate Fellow at Cambridge University, Kumaran attained a PhD in Theoretical Physics. He also has an A.B. in Physics with a Certificate in Applied and Computational Mathematics from Princeton University.

Stuart Sclater-Booth


Start Date

Tenure

Tenure Rank

Sep 30, 2017

4.67

4.7%

Stuart joined the team in 2014. Prior to joining Stone Harbor, Stuart served as Managing Director/Head of Emerging Markets Desk Strategy at Goldman Sachs. Previously, Stuart served as Executive Director/Global Head of EM Macro Strategy at JP Morgan Chase Securities. While at JP Morgan Chase Securities, he also served in a series of roles, including Executive Director of Emerging Markets Proprietary Trading and Vice President/Head of Trade Strategy. Earlier in his career, Stuart was a Research Assistant in the U.S. Macro Research Department at PaineWebber and an Assistant Economist in the Domestic Research Department at the Federal Reserve Bank of New York. Stuart attained a BA in Economics from Vassar College and an MA in Economics from Boston University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.87 6.39 6.11