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Virtus Newfleet Senior Floating Rate Fund
mutual fund
PSFRX
Payout Change
Pending
Price as of:
$8.75
+0.0
+0.0%
primary theme
Bank Loan
share class
PSFRX (Mutual Fund)
Virtus Newfleet Senior Floating Rate Fund
Payout Change
Pending
Price as of:
$8.75
+0.0
+0.0%
primary theme
Bank Loan
share class
PSFRX (Mutual Fund)
Virtus Newfleet Senior Floating Rate Fund
Payout Change
Pending
Price as of:
$8.75
+0.0
+0.0%
primary theme
Bank Loan
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
8.3%
1 yr return
8.7%
3 Yr Avg Return
6.1%
5 Yr Avg Return
4.8%
Net Assets
$198 M
Holdings in Top 10
14.5%
52 WEEK LOW AND HIGH
$8.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.12%
SALES FEES
Front Load 5.50%
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$100
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
PSFRX - Profile
Distributions
- YTD Total Return 8.3%
- 3 Yr Annualized Total Return 6.1%
- 5 Yr Annualized Total Return 4.8%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.18%
- Dividend Yield 7.8%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVirtus Newfleet Senior Floating Rate Fund
-
Fund Family NameVirtus Funds
-
Inception DateNov 03, 2016
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKyle Jennings
Fund Description
The fund offers the potential for attractive total return and income by investing primarily in non-investment grade bank loans with a focus on higher quality companies within a rating tier. Using extensive credit and company analysis and monitoring, the subadviser looks for those securities with strong total return potential while maintaining an emphasis on managing risk.
Under normal circumstances, the fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a portfolio of senior floating rate loans (“Senior Loans”), including both secured loans and “covenant lite” loans which have few or no financial maintenance covenants that would require a borrower to maintain certain financial metrics. The fund may invest up to 15% of total assets in U.S. and non-U.S. dollar denominated foreign securities and foreign Senior Loans, including Yankee bonds. The fund may purchase derivative instruments, including, but not limited to, options, futures contracts, credit-linked notes, and swaps.
The fund may borrow an amount up to 33 1/3% of its total assets (including the amount borrowed). The fund may borrow for investment purposes, to meet repurchase requests and for temporary, extraordinary or emergency purposes.
PSFRX - Performance
Return Ranking - Trailing
| Period | PSFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.3% | -3.4% | 10.8% | 54.92% |
| 1 Yr | 8.7% | -3.2% | 12.9% | 67.05% |
| 3 Yr | 6.1%* | -6.8% | 7.9% | 32.42% |
| 5 Yr | 4.8%* | -6.1% | 38.3% | 39.00% |
| 10 Yr | 4.0%* | -1.9% | 20.0% | 46.41% |
* Annualized
Return Ranking - Calendar
| Period | PSFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.7% | -12.0% | 11.1% | 62.26% |
| 2022 | -4.9% | -22.9% | 5.1% | 4.26% |
| 2021 | 1.5% | -12.2% | 11.1% | 28.57% |
| 2020 | -3.1% | -14.1% | 289.8% | 67.36% |
| 2019 | 2.7% | -8.1% | 7.5% | 51.06% |
Total Return Ranking - Trailing
| Period | PSFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.3% | -3.4% | 10.8% | 54.92% |
| 1 Yr | 8.7% | -3.2% | 12.9% | 67.05% |
| 3 Yr | 6.1%* | -6.8% | 7.9% | 32.42% |
| 5 Yr | 4.8%* | -6.1% | 38.3% | 39.00% |
| 10 Yr | 4.0%* | -1.9% | 20.0% | 46.41% |
* Annualized
Total Return Ranking - Calendar
| Period | PSFRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.8% | -12.0% | 22.1% | 68.30% |
| 2022 | -0.2% | -22.9% | 5.1% | 6.98% |
| 2021 | 5.0% | -10.2% | 11.1% | 38.89% |
| 2020 | 1.3% | -14.1% | 306.9% | 61.16% |
| 2019 | 8.1% | -3.6% | 10.5% | 40.00% |
NAV & Total Return History
PSFRX - Holdings
Concentration Analysis
| PSFRX | Category Low | Category High | PSFRX % Rank | |
|---|---|---|---|---|
| Net Assets | 198 M | 29.9 M | 13.5 B | 79.54% |
| Number of Holdings | 263 | 2 | 2051 | 73.54% |
| Net Assets in Top 10 | 28.9 M | -191 M | 2.37 B | 71.60% |
| Weighting of Top 10 | 14.51% | 5.2% | 100.7% | 45.31% |
Top 10 Holdings
- Dreyfus Government Cash Management 6.36%
- Janus Henderson AAA CLO ETF 1.10%
- UKG INC 0.95%
- MEDLINE BORROWER LP 0.92%
- TRANSDIGM INC 0.92%
- APPLIED SYSTEMS INC 0.90%
- CSC Holdings LLC 0.87%
- UPFIELD USA CORP 0.85%
- WEC US HOLDINGS LTD 0.82%
- INEOS US FINANCE LLC 0.82%
Asset Allocation
| Weighting | Return Low | Return High | PSFRX % Rank | |
|---|---|---|---|---|
| Bonds | 91.18% | 0.00% | 161.82% | 82.10% |
| Cash | 7.45% | -61.90% | 16.36% | 17.90% |
| Stocks | 1.37% | 0.00% | 100.74% | 47.08% |
| Preferred Stocks | 0.00% | -3.99% | 7.54% | 56.81% |
| Other | 0.00% | -52.39% | 26.58% | 63.81% |
| Convertible Bonds | 0.00% | 0.00% | 5.51% | 60.00% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PSFRX % Rank | |
|---|---|---|---|---|
| Energy | 46.38% | 0.00% | 100.00% | 18.26% |
| Consumer Cyclical | 37.29% | 0.00% | 97.66% | 7.83% |
| Communication Services | 16.32% | 0.00% | 100.00% | 43.48% |
| Utilities | 0.00% | 0.00% | 100.00% | 46.96% |
| Technology | 0.00% | 0.00% | 100.00% | 46.09% |
| Real Estate | 0.00% | 0.00% | 48.61% | 34.78% |
| Industrials | 0.00% | 0.00% | 100.00% | 66.09% |
| Healthcare | 0.00% | 0.00% | 100.00% | 34.78% |
| Financial Services | 0.00% | 0.00% | 89.61% | 36.52% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 52.17% |
| Basic Materials | 0.00% | 0.00% | 1.36% | 34.78% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PSFRX % Rank | |
|---|---|---|---|---|
| US | 1.37% | -0.01% | 100.74% | 47.08% |
| Non US | 0.00% | 0.00% | 0.68% | 45.91% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PSFRX % Rank | |
|---|---|---|---|---|
| Corporate | 92.15% | 0.00% | 99.80% | 32.16% |
| Cash & Equivalents | 6.36% | 0.00% | 25.03% | 20.62% |
| Derivative | 0.00% | -11.46% | 0.67% | 54.09% |
| Securitized | 0.00% | 0.00% | 91.68% | 62.75% |
| Municipal | 0.00% | 0.00% | 0.47% | 36.47% |
| Government | 0.00% | 0.00% | 3.18% | 50.98% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PSFRX % Rank | |
|---|---|---|---|---|
| US | 91.18% | 0.00% | 124.50% | 52.92% |
| Non US | 0.00% | 0.00% | 63.23% | 61.09% |
PSFRX - Expenses
Operational Fees
| PSFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.12% | 0.03% | 5.51% | 48.86% |
| Management Fee | 0.45% | 0.00% | 1.89% | 4.55% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 30.08% |
| Administrative Fee | 0.10% | 0.02% | 0.27% | 42.22% |
Sales Fees
| PSFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.50% | 1.00% | 5.75% | 5.56% |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| PSFRX 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.
| PSFRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 4.00% | 180.00% | 6.18% |
PSFRX - Distributions
Dividend Yield Analysis
| PSFRX | Category Low | Category High | PSFRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 7.79% | 0.00% | 11.13% | 58.87% |
Dividend Distribution Analysis
| PSFRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| PSFRX | Category Low | Category High | PSFRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.18% | 1.77% | 9.82% | 73.12% |
Capital Gain Distribution Analysis
| PSFRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.057 | OrdinaryDividend |
| Oct 31, 2024 | $0.055 | OrdinaryDividend |
| Sep 30, 2024 | $0.054 | OrdinaryDividend |
| Aug 30, 2024 | $0.067 | OrdinaryDividend |
| Jul 31, 2024 | $0.061 | OrdinaryDividend |
| Jun 30, 2024 | $0.055 | OrdinaryDividend |
| Apr 30, 2024 | $0.062 | OrdinaryDividend |
| Mar 28, 2024 | $0.063 | OrdinaryDividend |
| Feb 28, 2024 | $0.059 | OrdinaryDividend |
| Jan 31, 2024 | $0.059 | OrdinaryDividend |
| Dec 29, 2023 | $0.062 | OrdinaryDividend |
| Nov 30, 2023 | $0.060 | OrdinaryDividend |
| Oct 31, 2023 | $0.059 | OrdinaryDividend |
| Sep 29, 2023 | $0.062 | OrdinaryDividend |
| Aug 31, 2023 | $0.060 | OrdinaryDividend |
| Jul 31, 2023 | $0.053 | OrdinaryDividend |
| Jun 30, 2023 | $0.057 | OrdinaryDividend |
| May 31, 2023 | $0.059 | OrdinaryDividend |
| Apr 28, 2023 | $0.053 | OrdinaryDividend |
| Mar 31, 2023 | $0.064 | OrdinaryDividend |
| Feb 28, 2023 | $0.052 | OrdinaryDividend |
| Jan 31, 2023 | $0.047 | OrdinaryDividend |
| Dec 30, 2022 | $0.051 | OrdinaryDividend |
| Nov 30, 2022 | $0.045 | OrdinaryDividend |
| Oct 31, 2022 | $0.041 | OrdinaryDividend |
| Sep 30, 2022 | $0.038 | OrdinaryDividend |
| Aug 31, 2022 | $0.036 | OrdinaryDividend |
| Jul 29, 2022 | $0.035 | OrdinaryDividend |
| Jun 30, 2022 | $0.025 | OrdinaryDividend |
| May 31, 2022 | $0.025 | OrdinaryDividend |
| Apr 29, 2022 | $0.026 | OrdinaryDividend |
| Mar 31, 2022 | $0.025 | OrdinaryDividend |
| Feb 28, 2022 | $0.022 | OrdinaryDividend |
| Jan 31, 2022 | $0.021 | OrdinaryDividend |
| Dec 31, 2021 | $0.025 | OrdinaryDividend |
| Nov 30, 2021 | $0.025 | OrdinaryDividend |
| Oct 29, 2021 | $0.023 | OrdinaryDividend |
| Sep 30, 2021 | $0.019 | OrdinaryDividend |
| Aug 31, 2021 | $0.023 | OrdinaryDividend |
| Jul 30, 2021 | $0.025 | OrdinaryDividend |
| Jun 30, 2021 | $0.023 | OrdinaryDividend |
| May 28, 2021 | $0.023 | OrdinaryDividend |
| Apr 30, 2021 | $0.025 | OrdinaryDividend |
| Mar 31, 2021 | $0.024 | OrdinaryDividend |
| Feb 26, 2021 | $0.023 | OrdinaryDividend |
| Jan 29, 2021 | $0.023 | OrdinaryDividend |
| Dec 31, 2020 | $0.029 | OrdinaryDividend |
| Nov 30, 2020 | $0.023 | OrdinaryDividend |
| Oct 30, 2020 | $0.024 | OrdinaryDividend |
| Sep 30, 2020 | $0.025 | OrdinaryDividend |
| Aug 31, 2020 | $0.025 | OrdinaryDividend |
| Jul 31, 2020 | $0.027 | OrdinaryDividend |
| Jun 30, 2020 | $0.025 | OrdinaryDividend |
| May 29, 2020 | $0.024 | OrdinaryDividend |
| Apr 30, 2020 | $0.026 | OrdinaryDividend |
| Mar 31, 2020 | $0.036 | OrdinaryDividend |
| Feb 28, 2020 | $0.029 | OrdinaryDividend |
| Jan 31, 2020 | $0.036 | OrdinaryDividend |
| Dec 31, 2019 | $0.050 | OrdinaryDividend |
| Nov 29, 2019 | $0.034 | OrdinaryDividend |
| Oct 31, 2019 | $0.036 | OrdinaryDividend |
| Sep 30, 2019 | $0.033 | OrdinaryDividend |
| Aug 30, 2019 | $0.038 | OrdinaryDividend |
| Jul 31, 2019 | $0.038 | OrdinaryDividend |
| Dec 31, 2014 | $0.015 | CapitalGainShortTerm |
| Dec 31, 2014 | $0.012 | CapitalGainLongTerm |
| Dec 31, 2012 | $0.003 | CapitalGainLongTerm |
| Dec 22, 2010 | $0.070 | CapitalGainShortTerm |
| Dec 22, 2010 | $0.009 | CapitalGainLongTerm |
| Aug 23, 2010 | $0.052 | OrdinaryDividend |
| Jul 22, 2010 | $0.052 | OrdinaryDividend |
| Jun 22, 2010 | $0.052 | OrdinaryDividend |
| May 20, 2010 | $0.052 | OrdinaryDividend |
| Apr 22, 2010 | $0.052 | OrdinaryDividend |
| Mar 23, 2010 | $0.052 | OrdinaryDividend |
| Feb 18, 2010 | $0.052 | OrdinaryDividend |
| Jan 21, 2010 | $0.052 | OrdinaryDividend |
| Dec 22, 2009 | $0.058 | OrdinaryDividend |
| Dec 22, 2009 | $0.194 | CapitalGainShortTerm |
| Nov 19, 2009 | $0.054 | OrdinaryDividend |
| Oct 22, 2009 | $0.054 | OrdinaryDividend |
| Sep 22, 2009 | $0.054 | OrdinaryDividend |
| Aug 21, 2009 | $0.050 | OrdinaryDividend |
| Jul 23, 2009 | $0.055 | OrdinaryDividend |
| Jun 22, 2009 | $0.050 | OrdinaryDividend |
| May 20, 2009 | $0.040 | OrdinaryDividend |
| Apr 22, 2009 | $0.040 | OrdinaryDividend |
| Mar 23, 2009 | $0.038 | OrdinaryDividend |
| Feb 19, 2009 | $0.038 | OrdinaryDividend |
| Jan 22, 2009 | $0.038 | OrdinaryDividend |
| Dec 22, 2008 | $0.038 | OrdinaryDividend |
| Nov 19, 2008 | $0.055 | OrdinaryDividend |
| Oct 23, 2008 | $0.055 | OrdinaryDividend |
| Sep 22, 2008 | $0.055 | OrdinaryDividend |
PSFRX - Fund Manager Analysis
Managers
Kyle Jennings
Start Date
Tenure
Tenure Rank
Jan 31, 2008
14.34
14.3%
Kyle A. Jennings, CFA. Mr. Jennings is Portfolio Manager – Bank Loan Sector of Newfleet (since June 2011). Mr. Jennings is Senior Managing Director and Head of Credit Research (since 2011). Until June 2011, he was Managing Director (2008 to 2011) and 2nd Vice President (2005 to 2008) of Goodwin. Previously, he was associated with VIA, at which time it was an affiliate of Goodwin, and was a member of the corporate research team since 1998. Mr. Jennings is the sector manager for the leveraged loan sector and assists in formulation of the leveraged loan finance strategy for the retail multi-sector funds.He has over 20 years of investment experience.
David Albrycht
Start Date
Tenure
Tenure Rank
Jan 31, 2008
14.34
14.3%
Mr. Albrycht is president and Chief Investment Officer of Newfleet. Prior to joining Newfleet in 2011, Mr. Albrycht was Executive Managing Director and Senior Portfolio Manager with Goodwin Capital Advisers, a former Virtus investment management subsidiary. Mr. Albrycht joined the Goodwin multi-sector fixed income team in 1985 as a credit analyst and has managed fixed income portfolios since 1991.
Francesco Ossino
Start Date
Tenure
Tenure Rank
Aug 01, 2012
9.84
9.8%
Mr. Ossino is a senior managing director, senior portfolio manager, and sector head of the bank loan asset class at Newfleet. Before joining Newfleet in 2012, Mr. Ossino worked at Hartford Investment Management as a bank loan portfolio manager from 2004 to 2012, primarily focused on mutual fund portfolios and a commingled bank loan portfolio for institutional investors. He began his investment career in 1996. He received a BS in economics from Brandeis University and an MS in international economics and finance from Brandeis University and Luigi Bocconi University in Italy.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 21.18 | 6.08 | 3.25 |
