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Trending ETFs

XAI Octagon Floating Rate & Alternative Income Term Trust

mutual fund
XFLTX
Payout Change
Suspended
Price as of:
$6.97 +0.01 +0.14%
primary theme
Bank Loan
share class
XFLTX (Mutual Fund)

XAI Octagon Floating Rate & Alternative Income Term Trust

Payout Change
Suspended
Price as of:
$6.97 +0.01 +0.14%
primary theme
Bank Loan
share class
XFLTX (Mutual Fund)

XAI Octagon Floating Rate & Alternative Income Term Trust

Payout Change
Suspended
Price as of:
$6.97 +0.01 +0.14%
primary theme
Bank Loan
share class

Name

As of 06/13/2024

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

$6.97

$226 M

0.00%

5.28%

Vitals

YTD Return

1.3%

1 yr return

10.5%

3 Yr Avg Return

-4.5%

5 Yr Avg Return

-4.5%

Net Assets

$226 M

Holdings in Top 10

23.0%

52 WEEK LOW AND HIGH

$7.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 5.28%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 34.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Closed-end mutual fund


Name

As of 06/13/2024

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

$6.97

$226 M

0.00%

5.28%

XFLTX - Profile

Distributions

  • YTD Total Return 1.3%
  • 3 Yr Annualized Total Return -4.5%
  • 5 Yr Annualized Total Return -4.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 9.82%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    XAI Octagon Floating Rate & Alternative Income Term Trust
  • Fund Family Name
    XAI Octagon FR & Alt Income Term Trust
  • Inception Date
    Sep 26, 2017
  • Shares Outstanding
    32310149
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Michael Nechamkin

Fund Description


XFLTX - Performance

Return Ranking - Trailing

Period XFLTX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -96.4% 6.7% 93.07%
1 Yr 10.5% -96.3% 15.7% 55.11%
3 Yr -4.5%* -67.1% 8.3% 97.32%
5 Yr -4.5%* -48.0% 37.6% 97.98%
10 Yr N/A* -2.1% 19.4% N/A

* Annualized

Return Ranking - Calendar

Period XFLTX Return Category Return Low Category Return High Rank in Category (%)
2023 9.7% -12.0% 11.1% 1.82%
2022 -22.9% -22.9% 5.1% 100.00%
2021 11.1% -12.2% 11.1% 0.38%
2020 -6.6% -14.1% 289.8% 92.00%
2019 -8.1% -8.1% 7.5% 100.00%

Total Return Ranking - Trailing

Period XFLTX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -96.4% 6.7% 93.07%
1 Yr 10.5% -96.3% 15.7% 55.11%
3 Yr -4.5%* -67.1% 8.3% 97.32%
5 Yr -4.5%* -48.0% 37.6% 97.98%
10 Yr N/A* -2.1% 19.4% N/A

* Annualized

Total Return Ranking - Calendar

Period XFLTX Return Category Return Low Category Return High Rank in Category (%)
2023 9.7% -12.0% 22.1% 88.00%
2022 -22.9% -22.9% 5.1% 100.00%
2021 11.1% -10.2% 11.1% 0.38%
2020 -6.6% -14.1% 306.9% 97.60%
2019 -3.6% -3.6% 10.5% 100.00%

NAV & Total Return History


XFLTX - Holdings

Concentration Analysis

XFLTX Category Low Category High XFLTX % Rank
Net Assets 226 M 29.9 M 13.5 B 75.47%
Number of Holdings 451 2 1848 27.34%
Net Assets in Top 10 59.3 M -191 M 2.48 B 62.92%
Weighting of Top 10 23.02% 5.2% 100.8% 17.29%

Top 10 Holdings

  1. Invesco Shrt-Trm Inv Treasury Instl 3.52%
  2. CARLYLE US CLO 2019-4 LTD 0% 2.98%
  3. ROCKLAND PARK LTD 0% 2.63%
  4. Playtika Holding Corp. 2.50%
  5. Playtika Holding Corp. 2.50%
  6. Playtika Holding Corp. 2.50%
  7. Playtika Holding Corp. 2.50%
  8. Playtika Holding Corp. 2.50%
  9. Playtika Holding Corp. 2.50%
  10. Playtika Holding Corp. 2.50%

Asset Allocation

Weighting Return Low Return High XFLTX % Rank
Bonds
161.82% 0.00% 161.82% 0.37%
Stocks
0.08% 0.00% 100.78% 84.64%
Preferred Stocks
0.00% -3.99% 6.22% 97.00%
Other
0.00% -52.39% 26.58% 92.51%
Convertible Bonds
0.00% 0.00% 5.51% 96.23%
Cash
-61.90% -61.90% 20.29% 100.00%

Stock Sector Breakdown

Weighting Return Low Return High XFLTX % Rank
Utilities
0.00% 0.00% 100.00% 88.28%
Technology
0.00% 0.00% 100.00% 85.16%
Real Estate
0.00% 0.00% 48.61% 82.42%
Industrials
0.00% 0.00% 100.00% 1.56%
Healthcare
0.00% 0.00% 100.00% 81.64%
Financial Services
0.00% 0.00% 89.61% 83.59%
Energy
0.00% 0.00% 100.00% 91.80%
Communication Services
0.00% 0.00% 100.00% 94.14%
Consumer Defense
0.00% 0.00% 100.00% 85.16%
Consumer Cyclical
0.00% 0.00% 97.66% 91.02%
Basic Materials
0.00% 0.00% 1.36% 84.77%

Stock Geographic Breakdown

Weighting Return Low Return High XFLTX % Rank
US
0.08% -0.01% 100.78% 82.77%
Non US
0.00% 0.00% 0.68% 98.88%

Bond Sector Breakdown

Weighting Return Low Return High XFLTX % Rank
Securitized
48.91% 0.00% 91.68% 1.13%
Corporate
48.70% 0.00% 99.80% 98.11%
Cash & Equivalents
2.39% 0.00% 25.03% 61.42%
Derivative
0.00% -11.50% 1.00% 91.76%
Municipal
0.00% 0.00% 0.47% 95.85%
Government
0.00% 0.00% 3.18% 93.58%

Bond Geographic Breakdown

Weighting Return Low Return High XFLTX % Rank
US
98.59% 0.00% 143.64% 12.73%
Non US
63.23% 0.00% 63.23% 0.37%

XFLTX - Expenses

Operational Fees

XFLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 5.28% 0.03% 12.26% 1.09%
Management Fee 1.70% 0.00% 1.89% 98.54%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.27% N/A

Sales Fees

XFLTX 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

Trading Fees

XFLTX 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.

XFLTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 34.00% 4.00% 180.00% 17.86%

XFLTX - Distributions

Dividend Yield Analysis

XFLTX Category Low Category High XFLTX % Rank
Dividend Yield 0.00% 0.00% 11.13% 100.00%

Dividend Distribution Analysis

XFLTX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

XFLTX Category Low Category High XFLTX % Rank
Net Income Ratio 9.82% 1.77% 9.82% 0.38%

Capital Gain Distribution Analysis

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

Distributions History

View More +

XFLTX - Fund Manager Analysis

Managers

Michael Nechamkin


Start Date

Tenure

Tenure Rank

Sep 27, 2017

4.68

4.7%

Mr. Nechamkin is a member of Octagon’s Investment Committee and the Firm’s Chief Investment Officer. He serves as a Portfolio Manager across CLOs, Separately Managed Accounts and Commingled Funds. Prior to joining Octagon as Portfolio Manager in 1999, Mr. Nechamkin was a Vice President in the High Yield Research Group at Bankers Trust. Prior to that, he served as a Convertible Securities Analyst at Mabon Securities and a Financial Consultant at Merrill Lynch. He earned a Bachelor and a Master of Talmudic Law, and holds an M.B.A. from the University of Baltimore.

Gretchen Lam


Start Date

Tenure

Tenure Rank

Sep 27, 2017

4.68

4.7%

Ms. Lam is a member of Octagon’s Investment Committee and serves as a Portfolio Manager across CLOs, Separately Managed Accounts and Commingled Funds. Ms. Lam oversees the Firm’s Structured Credit (CLO debt & equity) investment strategies. Ms. Lam is also the Co-Chair of Octagon & Conning’s Global DEI (diversity, equity & inclusion) Council and a member of the Firm’s ESG (environmental, social, and corporate governance) Committee. Prior to becoming a Portfolio Manager, Ms. Lam oversaw Octagon's investments in the software, business services, finance & insurance, paper & packaging, gaming & lodging, homebuilding and real estate industries. She was also responsible for the structured credit exposure held in Octagon’s CLO vehicles. Prior to joining Octagon in 1999, Ms. Lam attended Babson College where she graduated Summa Cum Laude with a B.S. in Investments. She received her CFA Charter in 2006.

Andrew Gordon


Start Date

Tenure

Tenure Rank

Nov 06, 2017

4.57

4.6%

Mr. Gordon is a member of Octagon’s Investment Committee and serves as the Firm’s Chief Executive Officer. He co-founded Octagon in 1994 and subsequently managed numerous Octagon funds before assuming his current position. He possesses over 30 years of experience in the below-investment grade leveraged loan and high yield bond asset classes, in both sell-side and buy-side capacities. Mr. Gordon is also a member of the Firm’s ESG (environmental, social, and corporate governance) Committee. Prior to co-founding Octagon, Mr. Gordon was a Managing Director at Chemical Securities, Inc., where he focused primarily on the oil and gas industries. Mr. Gordon advised on and arranged below-investment grade loans for corporate clients, while also undertaking special projects in M&A advisory and distressed credit situations.  Prior to Chemical, Mr. Gordon served as Vice President in the Acquisition Finance Division of Manufacturers Hanover Trust Company.  In this capacity, he structured, syndicated and managed leveraged buyout transactions. From 2010 to 2015, Mr. Gordon served on the Board of Directors of the Loan Syndications and Trading Association, Inc. ("LSTA") and on the LSTA's Executive Committee. He graduated Cum Laude with an A.B. in Economics from Duke University. Mr. Gordon holds FINRA Series 7 & 63 Registrations.

Lauren Law


Start Date

Tenure

Tenure Rank

Mar 23, 2022

0.19

0.2%

Ms. Law is a member of Octagon’s Investment Committee and serves as a Portfolio Manager across CLOs, Separately Managed Accounts and Commingled Funds. Ms. Law joined Octagon in 2004. In addition, she helps oversee the Firm’s Structured Credit (CLO debt and equity) investment strategies. Prior to becoming a Portfolio Manager, Ms. Law was an Investment Team Principal whose coverage areas included healthcare, industrials, financials, business services, and the Firm’s CLO debt and equity investments. She holds a Bachelor of Science from Babson College, where she graduated Magna Cum Laude. She received her CFA Charter in 2009.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 21.18 6.03 3.25