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Trending ETFs

AQUILA HIGH INCOME FUND

mutual fund
ATIPX
Payout Change
Suspended
Price as of:
$8.21 +0.0 +0.0%
primary theme
High Yield Bond
share class
C (ATPCX) Y (ATPYX) A (ATPAX) I (ATIPX)
ATIPX (Mutual Fund)

AQUILA HIGH INCOME FUND

Payout Change
Suspended
Price as of:
$8.21 +0.0 +0.0%
primary theme
High Yield Bond
share class
C (ATPCX) Y (ATPYX) A (ATPAX) I (ATIPX)
ATIPX (Mutual Fund)

AQUILA HIGH INCOME FUND

Payout Change
Suspended
Price as of:
$8.21 +0.0 +0.0%
primary theme
High Yield Bond
share class
C (ATPCX) Y (ATPYX) A (ATPAX) I (ATIPX)

Name

As of 11/22/2024

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

AQUILA HIGH INCOME FUND

ATIPX | Fund

$8.21

$88.5 M

0.00%

1.50%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$88.5 M

Holdings in Top 10

27.1%

52 WEEK LOW AND HIGH

$8.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.50%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 118.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/22/2024

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

AQUILA HIGH INCOME FUND

ATIPX | Fund

$8.21

$88.5 M

0.00%

1.50%

ATIPX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.42%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AQUILA HIGH INCOME FUND
  • Fund Family Name
    Aquila Group of Funds
  • Inception Date
    Jun 30, 2006
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Schiffman

Fund Description

The Fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes in income-producing securities. Such securities may be rated at any level by nationally recognized statistical rating organizations or they may be unrated. It is anticipated that the Fund’s portfolio will typically include a high proportion, perhaps even 100%, of high-yield/high-risk securities rated below investment grade. Such securities are sometimes called “junk bonds.”

The bonds the Fund purchases can be of any maturity but the average effective weighted maturity of the Fund’s portfolio will normally be within one year of the average maturity of the Bloomberg US Corporate High Yield Total Return Index Value Unhedged. The average maturity of the Index as of December 31, 2023 was 4.85 years.

In addition to considering economic factors such as the effect of interest rates on the Fund’s investments, Aquila Investment Management LLC (the “Manager”) applies a “bottom up” approach in choosing investments. The Manager considers the individual characteristics of each potential investment in an income-producing security to determine if it is an attractive investment opportunity and consistent with the Fund’s investment policies. The Manager also employs a relative value analysis and fundamental credit research on potential investments in an effort to identify companies with attractive characteristics such as improving balance sheets, improving cash flow or interest coverage, improving earnings, hidden or unappreciated value, management quality, and/or strong business models.

Within the parameters of the Fund’s specific investment policies, the Fund may invest without limit in foreign debt, including debt of emerging markets issuers. The Fund may also invest in subordinated securities and may hold cash or other short-term investments.

Read More

ATIPX - Performance

Return Ranking - Trailing

Period ATIPX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -8.0% 17.4% 93.14%
1 Yr N/A -8.2% 18.4% 93.63%
3 Yr N/A* -14.5% 21.2% 61.37%
5 Yr N/A* -11.8% 36.7% 55.75%
10 Yr N/A* -4.7% 20.2% 74.76%

* Annualized

Return Ranking - Calendar

Period ATIPX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% -4.7% 14.3% 76.68%
2022 -9.4% -33.4% 3.6% 5.14%
2021 -1.0% -8.4% 8.2% 82.62%
2020 3.7% -13.2% 302.7% 6.56%
2019 3.3% -4.4% 13.3% 94.17%

Total Return Ranking - Trailing

Period ATIPX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -8.0% 17.4% 93.14%
1 Yr N/A -8.2% 18.4% 93.63%
3 Yr N/A* -14.5% 21.2% 61.37%
5 Yr N/A* -11.8% 36.7% 55.75%
10 Yr N/A* -4.7% 20.2% 74.76%

* Annualized

Total Return Ranking - Calendar

Period ATIPX Return Category Return Low Category Return High Rank in Category (%)
2023 9.3% -4.7% 18.7% 89.98%
2022 -5.4% -33.4% 47.8% 7.13%
2021 3.7% -8.4% 12.4% 79.17%
2020 8.1% -9.6% 325.6% 10.11%
2019 7.1% -3.8% 19.4% 95.08%

NAV & Total Return History

ATIPX - Holdings

Concentration Analysis

ATIPX Category Low Category High ATIPX % Rank
Net Assets 88.5 M 3.13 M 25.3 B 87.07%
Number of Holdings 55 2 3879 97.37%
Net Assets in Top 10 18.6 M -492 M 5.25 B 84.05%
Weighting of Top 10 27.14% 4.2% 146.0% 9.54%

Top 10 Holdings

  1. Rithm Capital Corp 3.15%
  2. New Fortress Energy Inc 2.99%
  3. Century Communities Inc 2.83%
  4. Dreyfus Treasury Obligations Cash Management Fund 2.81%
  5. Transocean Titan Financing Ltd 2.62%
  6. Ford Motor Co 2.61%
  7. Cleveland-Cliffs Inc 2.59%
  8. Viasat Inc 2.58%
  9. QVC Inc 2.53%
  10. Venture Global LNG Inc 2.43%

Asset Allocation

Weighting Return Low Return High ATIPX % Rank
Bonds 		96.16% 0.00% 145.36% 41.24%
Cash 		3.84% -52.00% 48.02% 44.74%
Convertible Bonds 		3.40% 0.00% 17.89% 9.05%
Stocks 		0.00% 0.00% 97.54% 99.84%
Preferred Stocks 		0.00% 0.00% 4.97% 99.84%
Other 		0.00% -39.08% 99.86% 89.47%

Bond Sector Breakdown

Weighting Return Low Return High ATIPX % Rank
Corporate 		98.93% 0.00% 100.00% 6.43%
Cash & Equivalents 		2.81% 0.00% 48.02% 55.92%
Derivative 		0.00% -14.58% 42.26% 83.22%
Securitized 		0.00% 0.00% 97.24% 99.18%
Municipal 		0.00% 0.00% 1.17% 97.53%
Government 		0.00% 0.00% 99.07% 98.52%

Bond Geographic Breakdown

Weighting Return Low Return High ATIPX % Rank
US 		96.16% 0.00% 126.57% 32.24%
Non US 		0.00% 0.00% 96.91% 99.84%

ATIPX - Expenses

Operational Fees

ATIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.50% 0.02% 38.33% 21.84%
Management Fee 0.65% 0.00% 1.75% 79.51%
12b-1 Fee 0.40% 0.00% 1.00% 59.47%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

ATIPX 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

ATIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 88.78%

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.

ATIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 118.00% 1.00% 255.00% 93.35%

ATIPX - Distributions

Dividend Yield Analysis

ATIPX Category Low Category High ATIPX % Rank
Dividend Yield 0.00% 0.00% 11.76% 86.76%

Dividend Distribution Analysis

ATIPX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

ATIPX Category Low Category High ATIPX % Rank
Net Income Ratio 3.42% -2.39% 9.30% 87.27%

Capital Gain Distribution Analysis

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

Distributions History

View More +

ATIPX - Fund Manager Analysis

Managers

David Schiffman

Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

Mr. Schiffman is a Portfolio Manager at Aquila since September 2021. Mr. Schiffman was Chief Investment Officer and Senior Portfolio Manager of The Terra Group from 2020 to September 2021. Mr. Schiffman was Director of Insurance Investing at Foresters Investment Management Co. from 2017 to 2019, where he was responsible for the management and credit research of all investment-grade and high-yield fixed income, insurance-related assets. Previously, Mr. Schiffman was a senior fixed income portfolio manager and senior financial strategist at First Empire Asset Management from 2011 to 2017, a risk manager and senior compliance officer at UBS International from 2005 to 2011, a director of fixed income investments and senior fixed income portfolio manager at The Pension Boards – United Church of Christ from 2000 to 2005, and a portfolio manager at GRE Insurance Group from 1996 to 1999. Mr. Schiffman is a graduate of the State University of New York at Binghamton where he earned a Bachelor of Arts degree in Economics, as well as an MBA in Finance. Mr. Schiffman is a member of the Fixed Income Analysts Society and the Bond Club of New York.

Pedro Marcal

Start Date

Tenure

Tenure Rank

Oct 01, 2021

0.66

0.7%

Mr. Marcal has been employed by the Manager since 2013 as a Senior Vice President and portfolio manager. Prior to joining the Manager, he was a Portfolio Manager at Allianz Global Investors (formerly Nicholas-Applegate Capital Management) from 1994 to 2013. Mr. Marcal has years of investment industry experience and has portfolio management and research responsibilities for the International Equities team. He also serves on the asset allocation committee. Before joining the team, Mr. Marcal had been a portfolio manager on the Global Select product and also the lead portfolio manager for the Emerging Markets product. He joined AGI Capital in 1994 via a predecessor affiliate in which he was also a Partner. Prior to that, he was an economist at A.B. Laffer, V.A. Canto & Associates, a global economic consulting firm, and a trader at A-Mark Precious Metals, a commodities firm. Mr. Marcal earned his M.B.A. from the UCLA Anderson School of Management and his B.A. from the University of California, San Diego. As part of his undergraduate degree, he spent a year studying development economics at London University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.31 8.17

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