Continue to site >
Trending ETFs

Virtus Seix Corporate Bond Fund

mutual fund
STICX
Payout Change
Pending
Price as of:
$7.43 +0.0 +0.0%
primary theme
Corporate Bond
STICX (Mutual Fund)

Virtus Seix Corporate Bond Fund

Payout Change
Pending
Price as of:
$7.43 +0.0 +0.0%
primary theme
Corporate Bond
STICX (Mutual Fund)

Virtus Seix Corporate Bond Fund

Payout Change
Pending
Price as of:
$7.43 +0.0 +0.0%
primary theme
Corporate 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

$7.43

$45.7 M

4.54%

$0.34

0.91%

Vitals

YTD Return

0.7%

1 yr return

4.8%

3 Yr Avg Return

-3.6%

5 Yr Avg Return

1.5%

Net Assets

$45.7 M

Holdings in Top 10

25.9%

52 WEEK LOW AND HIGH

$7.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.91%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 164.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

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

$7.43

$45.7 M

4.54%

$0.34

0.91%

STICX - Profile

Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return -3.6%
  • 5 Yr Annualized Total Return 1.5%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 2.07%
DIVIDENDS
  • Dividend Yield 4.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Virtus Seix Corporate Bond Fund
  • Fund Family Name
    Virtus Funds
  • Inception Date
    Oct 20, 2020
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Perry Troisi

Fund Description

The fund primarily invests in a diversified portfolio of U.S. dollar denominated corporate obligations and other fixed income instruments that are rated investment grade (BBB-/Baa3 or better) or unrated instruments that the subadviser believes are of comparable quality. 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. As a result of its investment strategy, the fund’s portfolio turnover rate may be 100% or more.

Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in corporate bonds. The fund may also invest in U.S. Treasury and agency obligations, floating rate loans, and below investment grade, high yield debt obligations (sometimes referred to as “junk bonds”), including emerging market securities. The fund may invest in U.S. dollar denominated obligations of U.S. and non-U.S. issuers. The fund may invest a portion of its assets in instruments that are restricted as to resale.

Buy and sell decisions are based on a wide number of factors that determine the risk-reward profile of each investment within the context of the broader portfolio. The subadviser attempts to identify investment grade corporate bonds offering above-average total return. In selecting corporate debt investments for purchase and sale, the subadviser seeks out companies with good fundamentals and above-average return prospects that are currently priced at attractive levels. The primary basis for asset selection is the potential income offered by the asset relative to the subadviser’s assessment of the issuer’s ability to generate the cash flow required to meet its obligations. The subadviser employs a “bottom-up” approach, identifying potential investment opportunities based on the underlying financial and economic fundamentals of the specific issuer.

The subadviser anticipates that the fund’s modified-adjusted-duration will mirror that of the Bloomberg U.S. Corporate Investment Grade Bond Index, plus or minus 20%. For example, if the duration of the Bloomberg U.S. Corporate Investment Grade Bond Index is 5 years, the fund’s duration may be 4–6 years. As of December 31, 2023, the duration of the Bloomberg U.S. Corporate Investment Grade Bond Index was 7.09 years. Duration measures a bond or fund’s sensitivity to interest rate or other changes (such as changes in a bond’s yield) and is expressed as a number of years. The higher the number, the greater the risk. Under normal circumstances, for example, if a portfolio has a duration of 5 years, its value will change by 5% if yields change by 1%. Shorter duration bonds generally result in lower expected volatility.

In addition, to implement its investment strategy, the fund may buy or sell derivative instruments (such as foreign currency forward contracts, swaps, including credit default swaps, futures, credit linked notes, options, inverse floaters 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 corporate bond characteristics towards its policy to invest, under normal circumstances, at least 80% of its net assets in corporate bonds.

Read More

STICX - Performance

Return Ranking - Trailing

Period STICX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -1.9% 3.5% 73.30%
1 Yr 4.8% -0.2% 8.7% 90.91%
3 Yr -3.6%* -10.2% 39.9% 93.14%
5 Yr 1.5%* -7.4% 26.2% 21.88%
10 Yr N/A* -0.1% 14.1% 40.15%

* Annualized

Return Ranking - Calendar

Period STICX Return Category Return Low Category Return High Rank in Category (%)
2023 4.3% -5.6% 6.3% 46.59%
2022 -22.2% -28.7% 142.1% 96.57%
2021 -5.7% -12.3% 4.9% 82.56%
2020 10.6% -8.0% 10.6% 0.60%
2019 9.7% 4.3% 13.4% 60.13%

Total Return Ranking - Trailing

Period STICX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -1.9% 3.5% 73.30%
1 Yr 4.8% -0.2% 8.7% 90.91%
3 Yr -3.6%* -10.2% 39.9% 93.14%
5 Yr 1.5%* -7.4% 26.2% 21.88%
10 Yr N/A* -0.1% 14.1% 37.12%

* Annualized

Total Return Ranking - Calendar

Period STICX Return Category Return Low Category Return High Rank in Category (%)
2023 8.3% -5.6% 12.9% 60.23%
2022 -16.4% -25.6% 151.8% 62.86%
2021 1.9% -5.1% 7.5% 6.98%
2020 18.0% -8.0% 116.0% 1.79%
2019 12.7% 6.7% 17.4% 81.65%

NAV & Total Return History


STICX - Holdings

Concentration Analysis

STICX Category Low Category High STICX % Rank
Net Assets 45.7 M 5.45 M 47.3 B 89.20%
Number of Holdings 58 4 10179 98.30%
Net Assets in Top 10 11.8 M -29.6 M 3.67 B 84.66%
Weighting of Top 10 25.93% 1.5% 143.5% 4.55%

Top 10 Holdings

  1. BPCE SA 2.66%
  2. Hyundai Capital America 2.65%
  3. AbbVie Inc 2.64%
  4. Goldman Sachs Group Inc/The 2.63%
  5. BMW US Capital LLC 2.59%
  6. Philip Morris International Inc 2.57%
  7. Newmont Corp 2.56%
  8. Pfizer Investment Enterprises Pte Ltd 2.55%
  9. BP Capital Markets America Inc 2.54%
  10. UBS Group AG 2.53%

Asset Allocation

Weighting Return Low Return High STICX % Rank
Bonds
98.49% 0.00% 136.47% 22.73%
Cash
1.51% -43.80% 45.81% 72.16%
Stocks
0.00% 0.00% 99.96% 46.59%
Preferred Stocks
0.00% 0.00% 9.18% 43.75%
Other
0.00% -3.13% 12.28% 76.14%
Convertible Bonds
0.00% 0.00% 78.47% 97.16%

Bond Sector Breakdown

Weighting Return Low Return High STICX % Rank
Corporate
74.55% 41.80% 99.80% 81.25%
Government
17.12% 0.00% 25.63% 17.05%
Securitized
3.18% 0.00% 23.18% 25.00%
Derivative
0.00% -2.64% 2.35% 65.34%
Cash & Equivalents
0.00% 0.00% 45.81% 87.50%
Municipal
0.00% 0.00% 3.62% 74.43%

Bond Geographic Breakdown

Weighting Return Low Return High STICX % Rank
US
98.49% 0.00% 109.87% 22.16%
Non US
0.00% 0.00% 47.05% 51.14%

STICX - Expenses

Operational Fees

STICX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.91% 0.02% 46.23% 36.78%
Management Fee 0.40% 0.00% 1.35% 67.05%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.02% 0.45% 60.81%

Sales Fees

STICX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

STICX 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.

STICX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 164.00% 0.00% 259.00% 95.98%

STICX - Distributions

Dividend Yield Analysis

STICX Category Low Category High STICX % Rank
Dividend Yield 4.54% 0.00% 6.00% 73.86%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

STICX Category Low Category High STICX % Rank
Net Income Ratio 2.07% 0.38% 5.93% 62.64%

Capital Gain Distribution Analysis

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

Distributions History

View More +

STICX - Fund Manager Analysis

Managers

Perry Troisi


Start Date

Tenure

Tenure Rank

Jul 31, 2004

17.84

17.8%

Perry is a managing director and head of investment grade, where he focuses on corporate, government-related and securitized (residential mortgage-backed, commercial mortgage-backed, and asset-backed securities) asset classes. Perry is responsible for strategic oversight of the firm’s investment grade bond portfolio management activities and is the senior portfolio manager of all investment grade (taxable) portfolios. He is a member of the Seix Investment Policy Group. Before joining Seix in 1999, Perry was a portfolio manager at GRE Insurance Group, where he was responsible for all North American fixed income assets within the group. Prior to that, he was a portfolio manager and analyst at Home Insurance Company, focused primarily on mortgage-backed securities. Perry began his career as an account analyst at Goldman, Sachs & Company. He received a B.S. degree in Economics and Computer Coordinate w/Economics from Trinity College and an M.B.A. degree in Finance from New York University.

Jonathan Yozzo


Start Date

Tenure

Tenure Rank

Aug 01, 2015

6.84

6.8%

Jon is a portfolio manager focused on credit and head of investment grade credit corporate bond trading and is a member of the Seix Investment Policy Group. Before joining the firm, he was a natural gas commodities broker at PVM Oil Associates responsible for brokerage of domestic natural gas products & foreign & domestic crude oil. Prior to that, Jon was a member of capital markets group & energy derivatives group at Prebon Yamane (U.S.A.) Inc. responsible for brokerage of short term eurodollars & forward rate agreements and sales associate at JPMorgan Securities, Inc. working primarily on the investment grade corporate sales desk. Jon received a B.S. degree in History from Syracuse University.

Carlos Catoya


Start Date

Tenure

Tenure Rank

Aug 01, 2015

6.84

6.8%

Carlos is a portfolio manager focused on credit and head of investment grade credit research. He is a member of the Seix Investment Policy Group. Before joining the firm, Carlos was a vice president of the global banking energy group at Royal Bank of Canada (RBC), and responsible for rating agency relationships. Previously, Carlos was director and group leader of Standard & Poor’s oil and gas corporate ratings team. Carlos was responsible for the ratings of independent oil and gas producers, refiner & marketers, and oilfield service companies. In addition, he led the corporate rating’s input into rating decisions for certain sovereign and selected project finance ratings. Prior to joining the rating agency, Carlos was a commercial banker having served in different analytical and lending relationship manager capacities as an officer at Credit Suisse US and First Fidelity (now Wells Fargo). Carlos received a B.S. degree (Magna Cum Laude) from Rutgers University, and received an M.B.A. degree in Finance (with concentration in International Business) & Accounting (with concentration in Financial Statement Analysis) from New York University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 24.76 6.74 2.47