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Trending ETFs

Guggenheim High Yield Fund

mutual fund
SHYIX
Payout Change
Pending
Price as of:
$7.99 -0.02 -0.25%
primary theme
High Yield Bond
SHYIX (Mutual Fund)

Guggenheim High Yield Fund

Payout Change
Pending
Price as of:
$7.99 -0.02 -0.25%
primary theme
High Yield Bond
SHYIX (Mutual Fund)

Guggenheim High Yield Fund

Payout Change
Pending
Price as of:
$7.99 -0.02 -0.25%
primary theme
High Yield Bond

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

$7.99

$194 M

8.16%

$0.65

0.95%

Vitals

YTD Return

3.2%

1 yr return

10.4%

3 Yr Avg Return

2.4%

5 Yr Avg Return

3.8%

Net Assets

$194 M

Holdings in Top 10

11.2%

52 WEEK LOW AND HIGH

$8.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.95%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$2,000,000

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

$7.99

$194 M

8.16%

$0.65

0.95%

SHYIX - Profile

Distributions

  • YTD Total Return 3.2%
  • 3 Yr Annualized Total Return 2.4%
  • 5 Yr Annualized Total Return 3.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.71%
DIVIDENDS
  • Dividend Yield 8.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Guggenheim High Yield Fund
  • Fund Family Name
    Guggenheim
  • Inception Date
    Jul 11, 2008
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    B. Scott Minerd

Fund Description

The Fund pursues its objective by investing at least 80% of its assets (net assets, plus the amount of any borrowings for investment purposes), under normal circumstances, in a broad range of high yield, high risk debt securities rated below the top four long-term rating categories by a nationally recognized statistical rating organization or, if unrated, determined by Security Investors, LLC, also known as Guggenheim Investments (the “Investment Manager”), to be of comparable quality (also known as “junk bonds”). If nationally recognized statistical rating organizations assign different ratings to the same security, the Fund will use the higher rating for purposes of determining the security’s credit quality. Debt securities in which the Fund may invest include, without limitation: corporate bonds and notes, convertible securities, commercial paper, discount notes, securities issued by the U.S. government or its agencies and instrumentalities (including those not backed by the full faith and credit of the U.S. government), agency and non-agency mortgage-backed securities and other asset-backed securities (including collateralized debt obligations), participations in and assignments of loans (such as senior floating rate loans, syndicated bank loans, secured or unsecured loans, bridge loans and other loans), floating rate revolving credit facilities (“revolvers”), debtor-in-possession loans (“DIPs”) and other loans, and sovereign debt securities and Eurodollar bonds and obligations. These securities may pay fixed or variable rates of interest. These securities also may be restricted securities, including Rule 144A securities that are eligible for resale to qualified institutional buyers.The Fund also may invest in a variety of investment vehicles, principally closed-end funds, exchange-traded funds (“ETFs”) and other mutual funds. The Fund may invest up to 10% of its net assets in securities that are in default at the time of purchase. The debt securities in which the Fund invests will primarily be domestic securities, but may also include foreign securities. Such securities may be denominated in foreign currencies. The Investment Manager may attempt to reduce foreign currency exchange rate risk by entering into contracts with banks, brokers or dealers to purchase or sell securities or foreign currencies at a future date. The Fund may also invest in preferred securities.The Fund also may seek exposures through derivative transactions, including: foreign exchange forward contracts; futures on securities, indices, currencies and other investments; Eurodollar futures; options; interest rate swaps; cross-currency swaps; total return swaps; and credit default swaps, which may also create economic leverage in the Fund. The Fund may engage in derivative transactions for speculative purposes to enhance total return, to seek to hedge against fluctuations in securities prices, interest rates or currency rates, to change the effective duration of its portfolio, to manage certain investment risks, as a substitute for the purchase or sale of securities or currencies and/or to obtain or replicate market exposure. The Fund may use leverage to the extent permitted by applicable law by entering into reverse repurchase agreements and transactions equivalent to a borrowing for investment purposes.The Fund also may engage, to the full extent permitted by applicable law, in repurchase agreements, forward commitments, short sales and securities lending. The Fund may, without limitation, seek to obtain exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as dollar rolls).The Investment Manager selects securities and other investments for purchase and sale based on intensive credit research involving extensive due diligence on each issuer, region and sector, and also considers macroeconomic outlook and geopolitical issues.The Investment Manager may determine to sell a security for several reasons, including but not limited to the following: (1) to adjust the portfolio’s average maturity or duration, or to shift assets into or out of higher-yielding securities; (2) if a security’s credit rating has been changed, the Investment Manager's credit outlook has changed, or for other similar reasons; (3) to meet redemption requests; (4) to take gains; or (5) due to relative value. Under adverse or unstable market conditions or abnormal circumstances (for example, in the event of credit events, where it is deemed opportune to preserve gains, or to preserve the relative value of investments or in the case of large cash inflows or anticipated large redemptions), the Fund can make temporary investments and may not be able to pursue or achieve its investment objective.
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SHYIX - Performance

Return Ranking - Trailing

Period SHYIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.2% -6.6% 8.3% 28.28%
1 Yr 10.4% -5.6% 19.5% 24.88%
3 Yr 2.4%* -16.2% 20.1% 21.12%
5 Yr 3.8%* -11.7% 37.1% 30.66%
10 Yr 4.1%* -5.2% 19.5% 12.88%

* Annualized

Return Ranking - Calendar

Period SHYIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.3% -4.7% 14.3% 50.24%
2022 -14.5% -33.4% 3.6% 32.00%
2021 0.7% -8.4% 8.2% 29.67%
2020 -0.7% -13.2% 302.7% 62.78%
2019 5.2% -4.4% 13.3% 80.42%

Total Return Ranking - Trailing

Period SHYIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.2% -6.6% 8.3% 28.28%
1 Yr 10.4% -5.6% 19.5% 24.88%
3 Yr 2.4%* -16.2% 20.1% 21.12%
5 Yr 3.8%* -11.7% 37.1% 30.66%
10 Yr 4.1%* -5.2% 19.5% 12.88%

* Annualized

Total Return Ranking - Calendar

Period SHYIX Return Category Return Low Category Return High Rank in Category (%)
2023 12.9% -4.7% 18.7% 30.43%
2022 -8.8% -33.4% 47.8% 23.36%
2021 5.9% -8.4% 12.4% 30.83%
2020 5.8% -9.6% 325.6% 44.25%
2019 12.2% -3.8% 19.4% 74.07%

NAV & Total Return History


SHYIX - Holdings

Concentration Analysis

SHYIX Category Low Category High SHYIX % Rank
Net Assets 194 M 1.45 M 23.6 B 74.09%
Number of Holdings 306 2 2888 58.89%
Net Assets in Top 10 21.7 M -492 M 5.26 B 79.05%
Weighting of Top 10 11.21% 4.2% 164.1% 69.84%

Top 10 Holdings

  1. Dreyfus Treasury Securities Cash Management Fund - Institutional Shares 1.86%
  2. CPI CG, Inc. 1.32%
  3. Jefferies Finance LLC / JFIN Company-Issuer Corp. 1.19%
  4. Upbound Group, Inc. 1.14%
  5. Brundage-Bone Concrete Pumping Holdings, Inc. 1.06%
  6. Terraform Global Operating, LP 0.99%
  7. VZ Secured Financing BV 0.96%
  8. Cheplapharm Arzneimittel GmbH 0.96%
  9. ITT Holdings LLC 0.88%
  10. Datix Bidco Ltd. 0.85%

Asset Allocation

Weighting Return Low Return High SHYIX % Rank
Bonds
95.81% -0.88% 154.38% 42.81%
Cash
2.66% -52.00% 48.07% 60.32%
Preferred Stocks
1.74% 0.00% 7.88% 5.24%
Convertible Bonds
0.52% 0.00% 17.89% 77.14%
Stocks
0.05% 0.00% 99.58% 64.14%
Other
-0.27% -63.70% 100.29% 96.35%

Stock Sector Breakdown

Weighting Return Low Return High SHYIX % Rank
Financial Services
52.61% 0.00% 100.00% 11.68%
Communication Services
23.27% 0.00% 99.99% 20.51%
Technology
22.50% 0.00% 33.17% 2.85%
Consumer Defense
1.63% 0.00% 100.00% 17.38%
Utilities
0.00% 0.00% 100.00% 77.78%
Real Estate
0.00% 0.00% 86.71% 76.07%
Industrials
0.00% 0.00% 93.12% 79.20%
Healthcare
0.00% 0.00% 22.17% 77.21%
Energy
0.00% 0.00% 100.00% 92.88%
Consumer Cyclical
0.00% 0.00% 100.00% 81.77%
Basic Materials
0.00% 0.00% 100.00% 78.35%

Stock Geographic Breakdown

Weighting Return Low Return High SHYIX % Rank
US
0.05% 0.00% 99.58% 62.86%
Non US
0.00% -0.01% 0.83% 77.30%

Bond Sector Breakdown

Weighting Return Low Return High SHYIX % Rank
Corporate
98.68% 0.00% 100.00% 8.43%
Cash & Equivalents
1.86% 0.00% 48.07% 66.67%
Securitized
1.28% 0.00% 97.24% 20.83%
Derivative
0.02% -14.70% 42.26% 25.87%
Municipal
0.00% 0.00% 1.17% 72.66%
Government
0.00% 0.00% 99.07% 78.70%

Bond Geographic Breakdown

Weighting Return Low Return High SHYIX % Rank
US
93.96% -0.88% 129.21% 50.63%
Non US
1.85% 0.00% 98.19% 28.10%

SHYIX - Expenses

Operational Fees

SHYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.95% 0.02% 38.33% 53.57%
Management Fee 0.60% 0.00% 1.84% 66.61%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% 40.56%

Sales Fees

SHYIX 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

SHYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 25.00%

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.

SHYIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 255.00% 42.73%

SHYIX - Distributions

Dividend Yield Analysis

SHYIX Category Low Category High SHYIX % Rank
Dividend Yield 8.16% 0.00% 11.76% 36.12%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SHYIX Category Low Category High SHYIX % Rank
Net Income Ratio 4.71% -2.39% 14.30% 32.31%

Capital Gain Distribution Analysis

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

Distributions History

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SHYIX - Fund Manager Analysis

Managers

B. Scott Minerd


Start Date

Tenure

Tenure Rank

Aug 21, 2012

9.78

9.8%

B. Scott Minerd, Chairman, Global Chief Investment Officer, Managing Partner and Portfolio Manager of Guggenheim Partners. Mr. Minerd joined Guggenheim Partners (or its affiliate or predecessor) in May 1998. Mr. Minerd leads Guggenheim Partners' research on global macroeconomics and guides the firm’s investment strategies.Previously, Mr. Minerd was a Managing Director with Credit Suisse First Boston in charge of trading and risk management for the Fixed Income Credit Trading Group. In this position, he was responsible for the corporate bond, preferred stock, money markets, U.S. government agency and sovereign debt, derivatives securities, structured debt and interest rate swaps trading business units. Prior to that, Mr. Minerd was Morgan Stanley’s London based European Capital Markets Products Trading and Risk Manager responsible for Eurobonds, Euro-MTNs, domestic European Bonds, FRNs, derivative securities and money market products in 12 European currencies and Asian markets. Mr. Minerd has also held capital markets positions with Merrill Lynch and Continental Bank. Prior to that, he was a Certified Public Accountant and worked for the public accounting firm of Price Waterhouse. Mr. Minerd is a member of the Federal Reserve Bank of New York’s Investor Advisory Committee on Financial Markets, helping advise the NY Fed President and senior management at the bank about the current financial markets and ways the public and private sectors can better understand and mitigate systematic risks. Mr. Minerd also works with the Organization for Economic Cooperation and Development (OECD), advising on research and analysis of private sector infrastructure investment, and is a contributing member of the World Economic Forum (WEF). He is a regularly featured guest and contributor to leading financial media outlets, including The Wall Street Journal, The Financial Times, Bloomberg, and CNBC, where he shares insights on today’s financial climate. Mr. Minerd holds a B.S. degree in Economics from the Wharton School, University of Pennsylvania, Philadelphia, and has completed graduate work at the University of Chicago Graduate School of Business and the Wharton School, University of Pennsylvania.

Richard de Wet


Start Date

Tenure

Tenure Rank

Jan 30, 2017

5.33

5.3%

Richard de Wet, Director and Portfolio Manager at the Investment Managers. Mr. de Wet joined Guggenheim Partners in March 2013 as part of the Portfolio Management team in the Corporate Credit Group. Mr. de Wet is responsible for the management of High Yield portfolios including the implementation of Investment Committee and firm Macroeconomic views. Prior to Guggenheim, he was with PIMCO where he spent 6 years and was part of the team sent from California to establish PIMCO’s New York Portfolio Management presence. He has more than 10 years of Investment Management experience across Multi-Sector Credit, Emerging Markets and Equities. Previously Mr. de Wet worked in Investment Banking at Lehman Brothers and Barclays Capital in Mergers and Acquisitions and Restructuring Advisory, and as an Assistant Vice President at the TCW Group. Mr. de Wet received a BBA in Finance and International Business from George Washington University and an MBA from Columbia Business School.

Thomas Hauser


Start Date

Tenure

Tenure Rank

Jan 30, 2017

5.33

5.3%

Thomas J. Hauser, Senior Managing Director and Portfolio Manager of Guggenheim Partners. He has co-managed Series F since November 2014 and Series P since January 2017. Mr. Hauser joined Guggenheim Partners (or its affiliate or predecessor) in 2002 and is a member of Guggenheim’s Corporate Credit Group. He is also a member of the Investment Committee overseeing Guggenheim’s corporate credit investing activities. Prior to his role as a portfolio manager, Mr. Hauser ran a team with Joseph McCurdy covering a variety of sectors including Technology, Media and Telecom, Education, Metals and Mining, Homebuilding, Healthcare, and Energy and Power. He has over 10 years' experience in the high yield and leverage loan class. During his career at the firm, Mr. Hauser has been an analyst covering a variety of sectors, including the Energy, Power, Transportation and Chemical sectors. Mr. Hauser received his B.S. in Finance from St. Johns University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.17 8.17