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High Yield Bond Fund
mutual fund
VHYLX
Payout Change
Pending
Price as of:
$7.32
+0.0
+0.0%
primary theme
High Yield Bond
share class
VHYLX (Mutual Fund)
High Yield Bond Fund
Payout Change
Pending
Price as of:
$7.32
+0.0
+0.0%
primary theme
High Yield Bond
share class
VHYLX (Mutual Fund)
High Yield Bond Fund
Payout Change
Pending
Price as of:
$7.32
+0.0
+0.0%
primary theme
High Yield Bond
share class
Name
As of 12/11/2024Price
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
7.7%
1 yr return
10.8%
3 Yr Avg Return
3.1%
5 Yr Avg Return
2.6%
Net Assets
$423 M
Holdings in Top 10
16.3%
52 WEEK LOW AND HIGH
$7.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.75%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 33.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
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
VHYLX - Profile
Distributions
- YTD Total Return 7.7%
- 3 Yr Annualized Total Return 3.1%
- 5 Yr Annualized Total Return 2.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.26%
- Dividend Yield 5.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameHigh Yield Bond Fund
-
Fund Family NameVALIC Company
-
Inception DateSep 01, 2006
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerChristopher Jones
Fund Description
At least 80% of the Fund’s net assets are invested, under normal circumstances, in high-yield, below-investment grade fixed-income securities (often referred to as “junk bonds”). These securities are rated below Baa3 by Moody’s Investor Services, Inc. (“Moody’s”) or BBB– by S&P Global Ratings (“S&P”) or determined to be of comparable quality by the subadviser. Up to 15% of the Fund’s net assets can be rated below Caa3 by Moody’s or CCC– by S&P or its equivalent rating by another Nationally Recognized Statistical Ratings Organization. The Fund may also invest up to 35% of its net assets in below-investment grade foreign fixed-income securities.The Fund may also invest up to 20% of its net assets in investment grade fixed-income securities, those rated Baa3 or higher by Moody’s and BBB– or higher by S&P. Although the Fund does not routinely invest in equity securities, it may invest in equity securities from time-to-time up to 20% of the Fund’s net assets.The subadviser analyzes macroeconomic trends to develop an overall picture of a country, market, or market segment and combines that analysis with research on individual securities to achieve the Fund’s objective.In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities.Investors will be given at least 60 days’ written notice in advance of any change to the Fund’s 80% investment policy set forth above.
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VHYLX - Performance
Return Ranking - Trailing
| Period | VHYLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.7% | -7.5% | 17.7% | 75.53% |
| 1 Yr | 10.8% | -4.7% | 18.4% | 63.55% |
| 3 Yr | 3.1%* | -14.4% | 21.6% | 46.17% |
| 5 Yr | 2.6%* | -11.4% | 37.2% | 88.61% |
| 10 Yr | 1.6%* | -4.7% | 20.4% | 94.79% |
* Annualized
Return Ranking - Calendar
| Period | VHYLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.9% | -4.7% | 14.3% | 32.13% |
| 2022 | -13.6% | -33.4% | 3.6% | 21.85% |
| 2021 | 0.3% | -8.4% | 8.2% | 41.58% |
| 2020 | -0.9% | -13.2% | 302.7% | 64.78% |
| 2019 | 9.8% | -4.4% | 13.3% | 8.20% |
Total Return Ranking - Trailing
| Period | VHYLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.7% | -7.5% | 17.7% | 75.53% |
| 1 Yr | 10.8% | -4.7% | 18.4% | 63.55% |
| 3 Yr | 3.1%* | -14.4% | 21.6% | 46.17% |
| 5 Yr | 2.6%* | -11.4% | 37.2% | 88.61% |
| 10 Yr | 1.6%* | -4.7% | 20.4% | 94.79% |
* Annualized
Total Return Ranking - Calendar
| Period | VHYLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.1% | -4.7% | 18.7% | 22.79% |
| 2022 | -10.7% | -33.4% | 47.8% | 49.34% |
| 2021 | 4.3% | -8.4% | 12.4% | 67.87% |
| 2020 | -0.9% | -9.6% | 325.6% | 95.58% |
| 2019 | 9.8% | -3.8% | 19.4% | 87.07% |
NAV & Total Return History
VHYLX - Holdings
Concentration Analysis
| VHYLX | Category Low | Category High | VHYLX % Rank | |
|---|---|---|---|---|
| Net Assets | 423 M | 3.13 M | 25.3 B | 59.48% |
| Number of Holdings | 283 | 2 | 4432 | 65.85% |
| Net Assets in Top 10 | 59.1 M | -492 M | 6.67 B | 62.56% |
| Weighting of Top 10 | 16.31% | 4.2% | 146.0% | 34.32% |
Top 10 Holdings
- State Street Navigator Securities Lending Government Money Market Portfolio 6.59%
- FIXED INC CLEARING CORP.REPO 1.50%
- McAfee Corp 1.16%
- Medline Borrower LP 1.11%
- Fortress Intermediate 3 Inc 1.10%
- LBM Acquisition LLC 1.02%
- AthenaHealth Group Inc 0.99%
- UKG Inc 0.96%
- Wynn Resorts Finance LLC / Wynn Resorts Capital Corp 0.95%
- Allied Universal Holdco LLC 0.94%
Asset Allocation
| Weighting | Return Low | Return High | VHYLX % Rank | |
|---|---|---|---|---|
| Bonds | 97.04% | 0.00% | 145.36% | 29.90% |
| Cash | 6.59% | -52.00% | 48.02% | 20.36% |
| Convertible Bonds | 2.07% | 0.00% | 17.89% | 23.15% |
| Other | 1.53% | -39.08% | 99.23% | 11.49% |
| Stocks | 0.00% | 0.00% | 97.54% | 95.75% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 91.46% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | VHYLX % Rank | |
|---|---|---|---|---|
| Corporate | 96.74% | 0.00% | 100.00% | 32.07% |
| Cash & Equivalents | 6.59% | 0.00% | 48.02% | 19.54% |
| Derivative | 0.04% | -14.58% | 42.26% | 22.66% |
| Securitized | 0.00% | 0.00% | 97.24% | 92.60% |
| Municipal | 0.00% | 0.00% | 1.17% | 87.66% |
| Government | 0.00% | 0.00% | 99.07% | 91.28% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | VHYLX % Rank | |
|---|---|---|---|---|
| US | 93.00% | 0.00% | 126.57% | 50.08% |
| Non US | 4.04% | 0.00% | 96.91% | 20.20% |
VHYLX - Expenses
Operational Fees
| VHYLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.75% | 0.02% | 38.33% | 70.49% |
| Management Fee | 0.62% | 0.00% | 1.75% | 72.01% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.06% | 0.00% | 0.50% | 26.49% |
Sales Fees
| VHYLX 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
| VHYLX 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.
| VHYLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 33.00% | 1.00% | 255.00% | 9.52% |
VHYLX - Distributions
Dividend Yield Analysis
| VHYLX | Category Low | Category High | VHYLX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.55% | 0.00% | 11.76% | 57.59% |
Dividend Distribution Analysis
| VHYLX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| VHYLX | Category Low | Category High | VHYLX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.26% | -2.39% | 9.30% | 56.52% |
Capital Gain Distribution Analysis
| VHYLX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 07, 2024 | $0.407 | OrdinaryDividend |
| Mar 07, 2023 | $0.449 | OrdinaryDividend |
| Mar 09, 2022 | $0.247 | OrdinaryDividend |
| May 13, 2021 | $0.308 | OrdinaryDividend |
VHYLX - Fund Manager Analysis
Managers
Christopher Jones
Start Date
Tenure
Tenure Rank
Jul 24, 2009
12.86
12.9%
Chris is a fixed income portfolio manager and chair of the High Yield Strategy Group. He focuses on the firm’s Core High Yield, European High Yield, Global High Yield, and total return oriented strategies. He began his career at Wellington Management in 1994 as a research analyst in Fixed Income Research, specializing in the quantitative and qualitative review of high-yield bonds. Prior to joining the firm, Chris did research for Foothill Group, an investment management company specializing in distressed debt, and he worked at La Jolla-based Multiple Peptide Systems where he marketed custom molecules to research institutions and other end users (1989 – 1992). Chris earned his MBA in finance from the University of California, Los Angeles (1994) and his BA, cum laude, from the University of California, San Diego (1988). He also holds the Chartered Financial Analyst designation.
Michael Barry
Start Date
Tenure
Tenure Rank
Oct 01, 2021
0.66
0.7%
Michael V. Barry, Senior Managing Director and Fixed Income Portfolio Manager of Wellington Management, has been involved in portfolio management for the Fund since 2021 and has been involved in securities analysis for the Fund since 2012. Mr. Barry joined Wellington Management as an investment professional in 2010.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.31 | 8.17 |
