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Short Duration High Yield Fund

Summary

Summary

What is the Short Duration High Yield Fund?

The Fund’s investment objective is to seek a high current income and the opportunity for capital appreciation to produce a high total return.

Yield

Dividend Yield 1 as of 07/13/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 6.45% 6.27%

30-Day Standardized Yield 2 as of 06/30/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.85% 1.69%

Fund Basicsas of 05/29/2020

Total Net Assets
$5.16 M
Inception Date
05/01/2020
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.69%
Fund Net Expense Ratio
0.51%
Number of Holdings
274

Fund Expense Ratio :

Gross 0.69%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge - - - - - 3.99%
Lipper Category Avg. Short High Yield Funds - - - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD - - - - - 4.74%

Fund Expense Ratio :

Gross 0.69%

Net 0.51%

Fund Expense Ratio :

Gross 0.69%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge - - - - - 3.99%
Lipper Category Avg. Short High Yield Funds - - - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD - - - - - 4.74%

Fund Expense Ratio :

Gross 0.69%

Net 0.51%

RELATED CONTENT

Uncovering Opportunity in a Rebounding U.S. High Yield Market
June 11, 2020

With the broad financial market recovery since late March, U.S. high yield is no longer as dislocated, but the rationale for a strategic allocation to the asset class remains intact in our view.

“Fallen Angels” Gain a Rising Profile in High Yield
June 1, 2020

Bonds downgraded from investment grade to speculative grade historically have outperformed other areas of high yield—but we believe a selective approach to these securities is crucial.

Weighing the Broader Impact of Crude Oil Price Volatility
April 24, 2020

Here, we assess the potential implications for key asset classes of the dramatic plunge in the price of May 2020 West Texas Intermediate crude oil.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

19 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

12 Years of Industry Experience

Supported By 61 Investment Professionals with 16 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Dividend Yield 1 as of 07/13/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 6.45% 6.27%

30-Day Standardized Yield 2 as of 06/30/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 4.85% 1.69%

Fund Expense Ratio :

Gross 0.69%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge - - - - - 3.99%
Lipper Category Avg. Short High Yield Funds - - - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD - - - - - 4.74%

Fund Expense Ratio :

Gross 0.69%

Net 0.51%

Fund Expense Ratio :

Gross 0.69%

Net 0.51%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 04/30/2020
w/o sales charge - - - - - 3.99%
Lipper Category Avg. Short High Yield Funds - - - - - -
ICE BofA HY US Corp Cash Pay BB-B 1-5Yrs USD - - - - - 4.74%

Fund Expense Ratio :

Gross 0.69%

Net 0.51%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Corporate
Investment Grade Corporate
Bank Loans
CMBS
Cash
Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
Greater than 10 years

Credit Quality Distribution as of 05/29/2020

Rating Assets
AAA
AA
BBB
<BBB
Not Rated

PORTFOLIO DETAILS as of 05/29/2020

Total Net Assets
$5.16 M
Number of Issues
274
Average Coupon
5.79%
Average Maturity
2.83 Years
Average Effective Duration
2.18 Years

Fees & Expenses

Fees & Expenses

Expense Ratioas of 06/30/2020

Fund Gross Expense Ratio Fund Net Expense Ratio
0.69% 0.51%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
n/a
Statutory Prospectus
Publish Date:11/03/2015
n/a
Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015

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