(MINC) NEWFLEET MULTI-SECTOR INCOME ETF
NAV as of 5/26/2023
$44.64
1 Day NAV Change as of 5/26/2023
$-0.02
MINC
Overview
The AdvisorShares Newfleet Multi-Sector Income ETF (NYSE Arca: MINC) seeks to provide current income consistent with preservation of capital, while limiting fluctuations in net asset value (“NAV”) due to changes in interest rates. MINC is managed by Newfleet Asset Management (“Portfolio Manager”), an investment subsidiary of Virtus Investment Partners. Newfleet believes that active fixed income sector rotation and quality security selection, combined with disciplined risk management, offers the best potential to achieve the Fund’s investment objective of providing a high level of total return, including a competitive level of current income in the fixed income market.
Symbol | Exchange | Inception Date | CUSIP | Indicative NAV |
---|---|---|---|---|
MINC | NYSE Arca | 3/19/2013 | 00768Y727 | MINC.NV |
<strong>Why Invest in MINC?</strong>
- For Portfolio Diversification – Spreading your investment risk among bonds in all the material bond sectors, including bonds with different maturities and credit qualities can help diversify an overall portfolio.
- For a Value-Oriented Approach to Fixed Income Investing – The portfolio manager believes that active bond sector rotation and quality security selection, combined with disciplined risk management, is the most effective means of achieving total returns in the fixed income market.
- For Simplified Bond Investing – MINC is designed for any investor seeking one bond fund that includes all the major bond sectors.
<strong>Key Attributes</strong>
- Low Duration – MINC’s low average duration, targeted at between 1 and 3 years, may potentially make it less sensitive to interest rate changes than other bond ETFs with higher average durations.
- High Quality – MINC primarily invests in high quality investment-grade debt, which are securities with credit ratings within the 4 highest rating categories of nationally recognized bond rating organizations.
- Active Bond Sector Rotation – The Portfolio Manager actively seeks to strategically overweight undervalued bond sectors in an effort to add value to the portfolio.
- Risk Controls – The portfolio manager employs disciplined risk management controls with the following parameters: Below investment grade maximum: 20%; Non-U.S. maximum: 30%; Industry maximum: 25%.
- Professional Experience – The portfolio management team has over 70 years of combined investment experience. MINC is being carefully managed by seasoned investment professionals.
<strong>About the Portfolio Managers</strong>
David Albrycht is president and chief investment officer of Newfleet Asset Management, an investment management affiliate of Virtus Investment Partners. 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. He joined the Goodwin multi-sector fixed income team in 1985 as a credit analyst and has managed fixed income portfolios since 1991.
Mr. Albrycht earned a B.A., cum laude, from Central Connecticut State University and an M.B.A., with honors, from the University of Connecticut. He holds the Chartered Financial Analyst designation.
Benjamin L. Caron, CFA, Senior Managing Director
In his current role, Mr. Caron is co-portfolio manager of, and assists in the management of, several fixed income portfolios at Newfleet Asset Management, an investment management affiliate of Virtus Investment Partners. Working with the CIO and senior portfolio manager, Mr. Caron contributes to multi-sector strategy and is responsible for strategy execution and portfolio monitoring across open-end funds, closed-end funds, ETFs, and offshore vehicles that the team manages. Prior to joining the Sub-Advisor in 2011, Mr. Caron was on the fixed income team at Goodwin Capital Advisers (the former Phoenix Investment Counsel).
Mr. Caron earned a B.A. from Syracuse University and an M.B.A. from Suffolk University. He is a CFA® (Chartered Financial Analyst®) charterholder. Mr. Caron began his career in the investment industry in 1997.
Fund
Price History
Fund Data
5/26/2023NAV | $44.64 |
Change | $-0.02 |
Shares Outstanding | 390,000 |
Assets Under Management | $17,410,864.5 |
Market Data
5/26/2023Closing Price | $44.67 |
Close Change | $-0.06 |
Volume | 982 |
Regulatory Data
5/26/2023Premium Discount | $0.030 |
30-Day Median bid-ask Spread | 0.51 |
Shares are bought and sold at market price (closing price) not NAV and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times.
FUND
Performance
As of 4/30/2023
NAV | Market Price Return | Bloomberg Capital Aggregate Bond Index | BofA Merrill Lynch 1-5 Year US Corp & Govt Bond Index | |
---|---|---|---|---|
1 Month | 0.68 | 0.74 | 0.61 | 0.52 |
3 Months | 0.84 | 0.80 | 0.49 | 1.11 |
YTD | 2.18 | 2.17 | 3.59 | 2.32 |
1 Year | -0.03 | 0.11 | -0.43 | 0.52 |
3 Years | 0.65 | 0.68 | -3.15 | 1.11 |
5 Years | 1.17 | 1.19 | 1.18 | 1.49 |
Since Inception (3/19/2013, Annualized) | 1.52 | 1.51 | 1.42 | 1.20 |
As of 3/31/2023
NAV | Market Price Return | Bloomberg Capital Aggregate Bond Index | BofA Merrill Lynch 1-5 Year US Corp & Govt Bond Index | |
---|---|---|---|---|
1 Month | 0.73 | 0.71 | 2.54 | 1.78 |
3 Months | 1.49 | 1.42 | 2.96 | 1.79 |
YTD | 1.49 | 1.42 | 2.96 | 1.79 |
1 Year | -1.68 | -1.75 | -4.78 | -0.36 |
3 Years | 1.09 | 2.01 | -2.77 | -0.72 |
5 Years | 1.04 | 1.03 | 0.91 | 1.33 |
Since Inception (3/19/2013, Annualized) | 1.46 | 1.45 | 1.37 | 1.16 |
Performance data quoted represents past performance and is no guarantee of future results. All Fund data and performance data quoted is believed to be accurate, and unless otherwise stated, is sourced from the Fund administrator, the Advisor’s or Sub-Advisor’s proprietary data, and Morningstar. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized.
Date | Account Symbol | Stock Ticker | Security ID | Security Description | Shares | Share Price | Market Value | Portfolio Weight | Asset Group |
---|---|---|---|---|---|---|---|---|---|
05/26/2023 | MINC | 91282CCU3 | US TREASURY N/B 0.125 8/31/2023 | 970,000.00 | 98.67 | 957,053.34 | 5.50% | TN | |
91282CFN6 | US TREASURY N/B 4.25 9/30/2024 | 640,000.00 | 98.97 | 633,387.50 | 3.64% | TN | |||
BKLN | 46138G508 | INVESCO SENIOR LOAN ETF | 27,004.00 | 20.61 | 556,552.44 | 3.20% | MF | ||
31418EJ76 | FN MA4785 5 10/1/2052 | 494,573.62 | 97.56 | 482,483.06 | 2.77% | FM | |||
91282CBB6 | US TREASURY N/B 0.625 12/31/2027 | 490,000.00 | 85.82 | 420,519.53 | 2.42% | TN | |||
91282CGG0 | US TREASURY N/B 4.125 1/31/2025 | 410,000.00 | 98.87 | 405,371.49 | 2.33% | TN | |||
91282CEK3 | US TREASURY N/B 2.5 4/30/2024 | 340,000.00 | 97.52 | 331,554.61 | 1.90% | TN | |||
91824CAB2 | VFI 2022-1A B 3.04 7/24/2028 | 320,000.00 | 94.56 | 302,601.63 | 1.74% | MR | |||
038413AB6 | AQFIT 2020-AA B 2.79 7/17/2046 | 335,000.00 | 87.03 | 291,564.20 | 1.67% | MR | |||
42806MAL3 | HERTZ 2022-1A C 2.63 6/25/2026 | 295,000.00 | 91.5 | 269,931.93 | 1.55% | MR | |||
12510KAG8 | CCG 2021-1 C 0.84 6/14/2027 | 270,000.00 | 93.58 | 252,661.82 | 1.45% | MR | |||
05351KAA7 | AVCCT 2021-1A A 1.37 4/15/2027 | 260,000.00 | 93.32 | 242,621.76 | 1.39% | MR | |||
52605AAB3 | LDPT 2022-A B 2.41 6/15/2029 | 245,000.00 | 98.62 | 241,623.80 | 1.39% | MR | |||
92939KAG3 | WFRBS 2014-C24 AS 3.931 11/15/2047 | 250,000.00 | 94.82 | 237,060.05 | 1.36% | MR | |||
91680FAB8 | UPST 2021-2 B 1.75 6/20/2031 | 240,000.00 | 97.22 | 233,321.74 | 1.34% | MR | |||
89616BAC8 | TAST 2022-1A C 4.71 8/15/2025 | 235,000.00 | 98.13 | 230,614.97 | 1.32% | MR | |||
14686XAG4 | CRVNA 2019-3A E 4.6 7/15/2026 | 235,000.00 | 97.77 | 229,748.71 | 1.32% | MR | |||
12512XAB9 | CCG 2023-1 A2 5.82 9/16/2030 | 200,000.00 | 100.52 | 201,032.08 | 1.15% | MR | |||
501895AA4 | LHOME 2021-RTL2 A1 STEP-CPN 6/25/2026 | 205,000.00 | 96.77 | 198,377.52 | 1.14% | MR | |||
85573MAA7 | STAR 2020-3 A1 FRN 4/25/2065 | 214,110.70 | 92.38 | 197,790.09 | 1.14% | MR | |||
836205AR5 | REPUBLIC OF SOUTH AFRICA 5.875 9/16/2025 | 200,000.00 | 98.81 | 197,614.00 | 1.14% | FB | |||
92837UAA7 | VISIO 2021-1R A1 1.28 5/25/2056 | 212,252.43 | 90.85 | 192,828.38 | 1.11% | MR | |||
01166VAA7 | ALASKA AIRLINES 2020 TR 4.8 8/15/2027 | 196,987.18 | 95.8 | 188,706.81 | 1.08% | B | |||
36265NAE3 | GCAR 2022-2A D 6.15 4/17/2028 | 190,000.00 | 98.56 | 187,267.93 | 1.08% | MR | |||
08862BAB1 | BHG 2021-B B 1.67 10/17/2034 | 210,000.00 | 88.3 | 185,430.06 | 1.07% | MR | |||
63942EAA6 | NAVSL 2021-EA A 0.97 12/16/2069 | 219,211.39 | 84.36 | 184,932.49 | 1.06% | MR | |||
62920KAC6 | NMEF 2022-A B 3.35 10/16/2028 | 195,000.00 | 93.62 | 182,558.30 | 1.05% | MR | |||
25714PEP9 | DOMINICAN REPUBLIC 5.5 2/22/2029 | 195,000.00 | 93.13 | 181,593.75 | 1.04% | FB | |||
29252VAC9 | PREF 2022-1A B 5.15 1/16/2029 | 185,000.00 | 96.98 | 179,407.97 | 1.03% | MR | |||
11042CAA8 | BRITISH AIR 21-1 A PPT 2.9 3/15/2035 | 208,436.02 | 83.83 | 174,722.16 | 1.00% | FB | |||
91282CHD6 | US TREASURY N/B 4.25 5/31/2025 | 175,000.00 | 99.36 | 173,872.07 | 1.00% | TN | |||
68504UAB7 | ONGLT 2019-A B 3.36 4/9/2038 | 176,558.54 | 95.2 | 168,085.32 | 0.97% | MR | |||
52607KAA1 | LBZZ 2022-1A A 4.22 5/17/2027 | 172,895.57 | 96.28 | 166,471.93 | 0.96% | MR | |||
552757AA4 | MFRA 2020-NQM3 A1 FRN 1/26/2065 | 166,466.15 | 89.75 | 149,401.64 | 0.86% | MR | |||
53079EBM5 | LIBERTY MUTUAL GROUP INC 4.125 12/15/2051 | 190,000.00 | 77.1 | 146,497.60 | 0.84% | B | |||
842587DJ3 | SOUTHERN CO 3.75 9/15/2051 | 164,000.00 | 84.72 | 138,938.65 | 0.80% | B | |||
58940BAE6 | MFCC 2022-1A A 2.5 9/21/2026 | 145,000.00 | 94.24 | 136,643.32 | 0.78% | MR | |||
00774MAW5 | AERCAP IRELAND CAP/GLOBA 3 10/29/2028 | 155,000.00 | 85.62 | 132,707.40 | 0.76% | FB | |||
35041LAA8 | FFIN 2021-1A A 1.27 5/15/2041 | 150,300.88 | 88.27 | 132,671.93 | 0.76% | MR | |||
12434KAA4 | BXGNT 2022-A A 4.12 9/28/2037 | 136,949.38 | 95.43 | 130,693.59 | 0.75% | MR | |||
12529KAA0 | CFMT 2021-GRN1 A 1.1 3/20/2041 | 138,515.91 | 92.41 | 128,005.35 | 0.74% | MR | |||
92837DAB3 | VISIO 2019-2 A2 FRN 11/25/2054 | 133,808.20 | 92.58 | 123,883.12 | 0.71% | MR | |||
64831EAA8 | NRZT 2021-NQ2R A1 FRN 10/25/2058 | 138,379.57 | 89.33 | 123,608.19 | 0.71% | MR | |||
00439KAA4 | AALLC 2021-1H A 1.35 10/20/2040 | 134,831.64 | 90.32 | 121,785.91 | 0.70% | MR | |||
96034JAB2 | WESTR 2022-1A B 2.288 8/20/2036 | 124,943.02 | 93.9 | 117,320.17 | 0.67% | MR | |||
40439HAC3 | HINTT 2020-A C 3.42 10/9/2039 | 124,813.17 | 91.89 | 114,686.94 | 0.66% | MR | |||
61762MBW0 | MSBAM 2013-C10 A4 FRN 7/15/2046 | 109,648.67 | 99.7 | 109,316.04 | 0.63% | MR | |||
31573WAA9 | EFMT 2020-2 A1 FRN 10/25/2065 | 120,436.18 | 89.77 | 108,120.45 | 0.62% | MR | |||
36258HAG0 | GCAR 2019-4A D 4.09 8/17/2026 | 110,000.00 | 97.36 | 107,101.18 | 0.62% | MR | |||
067316AF6 | BACARDI LTD 4.7 5/15/2028 | 110,000.00 | 97.1 | 106,804.78 | 0.61% | FB | |||
46641YAN3 | JPMMT 2014-2 AM FRN 6/25/2029 | 110,279.03 | 95.6 | 105,430.25 | 0.61% | MR | |||
913903AZ3 | UNIVERSAL HEALTH SVCS 1.65 9/1/2026 | 120,000.00 | 87.48 | 104,980.15 | 0.60% | B | |||
36266XAC4 | GCAR 2023-1A B 6.19 6/15/2027 | 100,000.00 | 100.27 | 100,272.38 | 0.58% | MR | |||
88224QAA5 | TEXAS CAPITAL BANCSHARES 4 5/6/2031 | 135,000.00 | 73.88 | 99,738.18 | 0.57% | B | |||
66977WAP4 | NOVA CHEMICALS CORP 5 5/1/2025 | 100,000.00 | 97.27 | 97,274.79 | 0.56% | FB | |||
82650TAC1 | SRFC 2022-2A C 6.36 6/20/2040 | 97,345.45 | 97.66 | 95,066.54 | 0.55% | MR | |||
21871XAN9 | COREBRIDGE FINANCIAL INC 6.875 12/15/2052 | 107,000.00 | 88.54 | 94,739.72 | 0.54% | B | |||
06051GKJ7 | BANK OF AMERICA CORP 2.551 2/4/2028 | 105,000.00 | 89.83 | 94,322.05 | 0.54% | B | |||
05584AAA8 | HGVGI 2017-1A A 2.94 5/25/2029 | 94,543.57 | 97.09 | 91,788.38 | 0.53% | MR | |||
90349GAN5 | UBSBB 2013-C6 B FRN 4/10/2046 | 100,000.00 | 91.61 | 91,611.49 | 0.53% | MR | |||
17288XAB0 | CITADEL LP 4.875 1/15/2027 | 90,000.00 | 95.92 | 86,325.66 | 0.50% | B | |||
12513GBH1 | CDW LLC/CDW FINANCE 3.276 12/1/2028 | 98,000.00 | 85.72 | 84,003.62 | 0.48% | B | |||
71654QCG5 | PETROLEOS MEXICANOS 6.5 3/13/2027 | 95,000.00 | 86.66 | 82,328.65 | 0.47% | FB | |||
12567NAA7 | CIM 2022-R2 A1 FRN 12/25/2061 | 86,974.72 | 92.8 | 80,708.84 | 0.46% | MR | |||
24703TAE6 | DELL INT LLC / EMC CORP 4.9 10/1/2026 | 80,000.00 | 98.8 | 79,041.34 | 0.45% | B | |||
61747YFA8 | MORGAN STANLEY 5.123 2/1/2029 | 80,000.00 | 98.67 | 78,936.39 | 0.45% | B | |||
26884UAE9 | EPR PROPERTIES 4.95 4/15/2028 | 90,000.00 | 86.5 | 77,853.52 | 0.45% | B | |||
073096AA7 | BAYPORT POLYMERS LLC 4.743 4/14/2027 | 80,000.00 | 93.26 | 74,604.46 | 0.43% | B | |||
744320AM4 | PRUDENTIAL FINANCIAL INC 5.625 6/15/2043 | 74,000.00 | 100.1 | 74,071.04 | 0.43% | B | |||
04047AAA2 | ARIVO 2021-1A A 1.19 1/15/2027 | 76,285.93 | 97.06 | 74,041.26 | 0.43% | MR | |||
05565QDV7 | BP CAPITAL MARKETS PLC 4.875 PERPETL 12/22/2171 | 80,000.00 | 91.56 | 73,250.00 | 0.42% | FB | |||
172967JT9 | CITIGROUP INC 4.4 6/10/2025 | 75,000.00 | 97.14 | 72,855.84 | 0.42% | B | |||
09261HAD9 | BLACKSTONE PRIVATE CRE 2.625 12/15/2026 | 86,000.00 | 84.26 | 72,461.62 | 0.42% | B | |||
05526DBR5 | BAT CAPITAL CORP 2.259 3/25/2028 | 85,000.00 | 85.01 | 72,262.28 | 0.42% | FB | |||
92564RAG0 | VICI PROPERTIES / NOTE 4.625 6/15/2025 | 75,000.00 | 96.11 | 72,081.75 | 0.41% | B | |||
67623CAD1 | OFFICE PPTY INCOME TRST 2.65 6/15/2026 | 105,000.00 | 66.03 | 69,335.41 | 0.40% | B | |||
69357QAA4 | PRPM 2021-RPL2 A1 FRN 10/25/2051 | 74,721.88 | 87.92 | 65,698.52 | 0.38% | MR | |||
62955VAA4 | NYMT 2022-CP1 A1 2.0424 7/25/2061 | 70,324.28 | 90.1 | 63,364.73 | 0.36% | MR | |||
85573JAB2 | STAR 2021-3 A2 FRN 6/25/2056 | 78,170.37 | 81.05 | 63,353.72 | 0.36% | MR | |||
3140XK4Y3 | FN FS4438 5 11/1/2052 | 64,895.09 | 97.56 | 63,308.64 | 0.36% | FM | |||
89180DAC0 | TPHT 2021-HE1 M1 FRN 2/25/2063 | 66,444.21 | 93.88 | 62,375.55 | 0.36% | MR | |||
46644XAC6 | JPMMT 2015-5 A2 FRN 5/25/2045 | 61,732.31 | 98.3 | 60,684.16 | 0.35% | MR | |||
31574XAB4 | EFMT 2021-1 A2 FRN 2/25/2066 | 71,166.00 | 83.15 | 59,175.72 | 0.34% | MR | |||
46647PDA1 | JPMORGAN CHASE & CO 4.323 4/26/2028 | 60,000.00 | 96.59 | 57,956.04 | 0.33% | B | |||
92259LAB4 | VCC 2020-1 AFX FRN 2/25/2050 | 63,859.02 | 87.89 | 56,123.10 | 0.32% | MR | |||
446413AZ9 | HUNTINGTON INGALLS INDUS 2.043 8/16/2028 | 66,000.00 | 83.84 | 55,331.93 | 0.32% | B | |||
20268BAA8 | CBSLT 2020-1 A 1.69 10/25/2051 | 61,182.31 | 88.63 | 54,226.31 | 0.31% | MR | |||
126650CX6 | CVS HEALTH CORP 4.3 3/25/2028 | 55,000.00 | 96.83 | 53,255.44 | 0.31% | B | |||
949803AA8 | WFMBS 2004-U A1 FRN 10/25/2034 | 54,586.54 | 95.24 | 51,988.42 | 0.30% | MR | |||
95000U2V4 | WELLS FARGO & COMPANY 3.526 3/24/2028 | 55,000.00 | 93.14 | 51,226.07 | 0.29% | B | |||
53946XAA1 | LOBEL 2023-1 A 6.97 7/15/2026 | 50,000.00 | 99.62 | 49,810.23 | 0.29% | MR | |||
29250NBN4 | ENBRIDGE INC 7.375 1/15/2083 | 50,000.00 | 98.98 | 49,491.98 | 0.28% | FB | |||
46641YAJ2 | JPMMT 2014-2 2A2 FRN 6/25/2029 | 51,229.17 | 96.17 | 49,268.85 | 0.28% | MR | |||
05592DAA2 | BPR 2022-OANA A FRN 4/15/2037 | 50,000.00 | 97.09 | 48,547.40 | 0.28% | MR | |||
24906PAA7 | DENTSPLY SIRONA INC 3.25 6/1/2030 | 55,000.00 | 86.41 | 47,523.64 | 0.27% | B | |||
03465BAA5 | AOMT 2020-SBC1 A1 FRN 5/25/2050 | 50,698.72 | 92.45 | 46,872.31 | 0.27% | MR | |||
042858AA8 | ARRW 2019-2 A1 FRN 4/25/2049 | 49,231.97 | 93.17 | 45,868.00 | 0.26% | MR | |||
83406QAA6 | SCLP 2022-1S A 6.21 4/15/2031 | 45,493.10 | 100.08 | 45,531.13 | 0.26% | MR | |||
808513BJ3 | CHARLES SCHWAB CORP 4 PERPETL 3/1/2172 | 60,000.00 | 75.25 | 45,151.20 | 0.26% | B | |||
84861TAC2 | SPIRIT REALTY LP 4.45 9/15/2026 | 46,429.00 | 95.02 | 44,118.24 | 0.25% | B | |||
92556VAC0 | VIATRIS INC 2.3 6/22/2027 | 50,000.00 | 86.89 | 43,445.44 | 0.25% | B | |||
852060AD4 | SPRINT CAPITAL CORP 6.875 11/15/2028 | 40,000.00 | 106.16 | 42,464.04 | 0.24% | B | |||
11271LAC6 | BROOKFIELD FINANCE INC 3.9 1/25/2028 | 45,000.00 | 92.62 | 41,676.90 | 0.24% | FB | |||
81618TAC4 | OFFICE PPTY INCOME TRST 4.5 2/1/2025 | 50,000.00 | 82.89 | 41,442.72 | 0.24% | B | |||
65339KBP4 | NEXTERA ENERGY CAPITAL 6.051 3/1/2025 | 41,000.00 | 100.77 | 41,314.18 | 0.24% | B | |||
06406RBL0 | BANK OF NY MELLON CORP 5.802 10/25/2028 | 40,000.00 | 102.34 | 40,935.82 | 0.24% | B | |||
857477BY8 | STATE STREET CORP 5.82 11/4/2028 | 40,000.00 | 102.12 | 40,849.89 | 0.23% | B | |||
22160NAA7 | COSTAR GROUP INC 2.8 7/15/2030 | 50,000.00 | 81.22 | 40,608.02 | 0.23% | B | |||
94981VAB3 | WFMBS 2004-K 1A2 FRN 7/25/2034 | 39,121.06 | 103.14 | 40,347.94 | 0.23% | MR | |||
452327AP4 | ILLUMINA INC 5.75 12/13/2027 | 40,000.00 | 100.78 | 40,311.21 | 0.23% | B | |||
527298BR3 | LEVEL 3 FINANCING INC 4.25 7/1/2028 | 70,000.00 | 57.48 | 40,234.43 | 0.23% | B | |||
30161NBJ9 | EXELON CORP 5.15 3/15/2028 | 40,000.00 | 99.87 | 39,949.63 | 0.23% | B | |||
22551EAA4 | CRUSA 2021-1A A 1.35 2/16/2027 | 40,178.54 | 98.45 | 39,553.91 | 0.23% | MR | |||
097023CU7 | BOEING CO 5.04 5/1/2027 | 40,000.00 | 98.68 | 39,472.75 | 0.23% | B | |||
78081BAJ2 | ROYALTY PHARMA PLC 1.75 9/2/2027 | 45,000.00 | 85.53 | 38,488.59 | 0.22% | B | |||
38141GWB6 | GOLDMAN SACHS GROUP INC 3.85 1/26/2027 | 40,000.00 | 95.32 | 38,129.58 | 0.22% | B | |||
428291AN8 | HEXCEL CORP 4.2 2/15/2027 | 40,000.00 | 94.33 | 37,731.87 | 0.22% | B | |||
78432BAA7 | SGR 2019-3 A1 FRN 9/25/2059 | 38,966.64 | 96.69 | 37,675.15 | 0.22% | MR | |||
29365BAA1 | ENTEGRIS ESCROW CORP 4.75 4/15/2029 | 40,000.00 | 92.99 | 37,197.03 | 0.21% | B | |||
369604BQ5 | GENERAL ELECTRIC CO FRN 6/15/2171 | 37,000.00 | 100.2 | 37,074.16 | 0.21% | B | |||
36416UAG0 | GFMT 2017-1 A21 FRN 7/25/2056 | 39,032.54 | 91.43 | 35,688.99 | 0.20% | MR | |||
55903VBA0 | WARNERMEDIA HOLDINGS INC 3.755 3/15/2027 | 35,000.00 | 93.16 | 32,606.71 | 0.19% | B | |||
749389AA0 | RCKT 2020-1 A1 FRN 2/25/2050 | 36,830.14 | 85.04 | 31,319.28 | 0.18% | MR | |||
361841AJ8 | GLP CAPITAL LP / FIN II 5.25 6/1/2025 | 30,000.00 | 97.49 | 29,246.15 | 0.17% | B | |||
38141GZU1 | GOLDMAN SACHS GROUP INC 4.482 8/23/2028 | 30,000.00 | 96.46 | 28,937.35 | 0.17% | B | |||
446150AQ7 | HUNTINGTON BANCSHARES 2.625 8/6/2024 | 30,000.00 | 93.41 | 28,023.66 | 0.16% | B | |||
316773DE7 | FIFTH THIRD BANCORP 4.055 4/25/2028 | 30,000.00 | 91.56 | 27,468.13 | 0.16% | B | |||
06616PAA5 | BHG 2020-A A 2.56 9/17/2031 | 27,705.82 | 97.85 | 27,110.60 | 0.16% | MR | |||
74387LAC5 | PFMT 2019-1 A2 FRN 12/25/2049 | 30,951.32 | 85.28 | 26,393.75 | 0.15% | MR | |||
56847MAA8 | MFIT 2019-AA A 2.96 7/20/2032 | 26,621.58 | 99.05 | 26,367.66 | 0.15% | MR | |||
25216AAA2 | DEXT 2020-1 A 1.46 2/16/2027 | 26,103.70 | 99.32 | 25,925.93 | 0.15% | MR | |||
17324VAH7 | CMLTI 2015-PS1 A1 FRN 9/25/2042 | 26,176.73 | 92.72 | 24,271.04 | 0.14% | MR | |||
12327FAA5 | BJETS 2020-1A A 2.981 11/15/2035 | 25,188.07 | 94.65 | 23,840.03 | 0.14% | MR | |||
67098AAC3 | OBX 2019-INV1 A3 FRN 11/25/2048 | 24,474.22 | 95.42 | 23,354.52 | 0.13% | MR | |||
172967NH0 | CITIGROUP INC FRN 2/24/2028 | 20,000.00 | 101.06 | 20,212.29 | 0.12% | B | |||
37045XEF9 | GENERAL MOTORS FINL CO 5.4 4/6/2026 | 20,000.00 | 99.01 | 19,801.76 | 0.11% | B | |||
758750AE3 | REGAL REXNORD CORP 6.3 2/15/2030 | 20,000.00 | 98.95 | 19,790.08 | 0.11% | B | |||
172967KY6 | CITIGROUP INC 3.2 10/21/2026 | 20,000.00 | 93.07 | 18,613.98 | 0.11% | B | |||
31573TAC2 | EFMT 2019-2 A3 FRN 11/25/2059 | 19,295.03 | 91.89 | 17,731.00 | 0.10% | MR | |||
758750AD5 | REGAL REXNORD CORP 6.05 4/15/2028 | 18,000.00 | 98.23 | 17,680.79 | 0.10% | B | |||
404119CP2 | HCA INC 5.2 6/1/2028 | 17,000.00 | 98.54 | 16,751.02 | 0.10% | B | |||
30166EAG1 | EART 2018-4A D 4.35 9/16/2024 | 15,534.35 | 99.86 | 15,512.21 | 0.09% | MR | |||
94981VAY3 | WFMBS 2004-K 2A12 FRN 7/25/2034 | 14,831.36 | 101.43 | 15,042.97 | 0.09% | MR | |||
709599BU7 | PENSKE TRUCK LEASING/PTL 5.75 5/24/2026 | 15,000.00 | 99.3 | 14,895.65 | 0.09% | B | |||
758750AC7 | REGAL REXNORD CORP 6.05 2/15/2026 | 13,000.00 | 99.88 | 12,983.92 | 0.07% | B | |||
709599BV5 | PENSKE TRUCK LEASING/PTL 6.2 6/15/2030 | 12,000.00 | 99.36 | 11,923.60 | 0.07% | B | |||
87165BAL7 | SYNCHRONY FINANCIAL 3.7 8/4/2026 | 13,000.00 | 86.63 | 11,261.81 | 0.06% | B | |||
87165BAS2 | SYNCHRONY FINANCIAL 4.875 6/13/2025 | 10,000.00 | 94.02 | 9,402.01 | 0.05% | B | |||
67592LAA4 | OCTL 2020-1A A 1.71 2/20/2025 | 8,276.79 | 99.38 | 8,225.43 | 0.05% | MR | |||
38061LAA7 | GLDKR 2014-A A 3.22 3/17/2031 | 5,393.83 | 98.9 | 5,334.76 | 0.03% | MR | |||
498894AA2 | KNIFE RIVER HOLD CO 7.75 5/1/2031 | 5,000.00 | 100.41 | 5,020.50 | 0.03% | B | |||
70410LAA8 | PWNE 2020-1 A 1.37 11/17/2025 | 3,985.99 | 99.48 | 3,965.35 | 0.02% | MR | |||
91533BAC4 | VIATRIS INC 2.3 6/22/2027 | 157 | 86.89 | 136.42 | B | ||||
X9USDJPMR | JP MORGAN USD GOVT MONEY MARKET INSTL | 1,333,972.03 | 1 | 1,333,972.03 | 7.66% | MM | |||
CASH | -255,437.58 | 100 | -255,437.58 | -1.47% | CA |
Holdings and allocations are subject to risks and to change. A holding identified with an “MM” at the end of its name indicates it is a Money Market fund.
FUND
Characteristics
As of 4/30/2023
MINC Sector Allocation
FUND
Fixed Income Attributes
As of 04/30/2023
Date | Description | MINC |
---|---|---|
04/30/2023 | Duration | 2.26 years |
Yield to Maturity | 6.08 | |
30-Day SEC Subsidized Yield | 5.14% | |
30-Day SEC Unsubsidized Yield | 4.10% |
Past Performance is not indicative of future results. Duration is a measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. Duration is expressed as a number of years. Rising interest rates mean falling bond prices, while declining interest rates mean rising bond prices. 30–Day SEC Yield (Standardized Yield) is an annualized yield that is calculated by dividing the investment income earned by the Fund less expenses over the most recent 30-day period by the current maximum offering price. The Subsidized Yield reflects fee waivers and/or expense reimbursements recorded by the Fund during the period. Without waivers and/or reimbursements, yields would be reduced. The Unsubsidized Yield does not adjust for any fee waivers and/ or expense reimbursements in effect. If the Fund does not incur any fee waivers and/or expense reimbursements during the period, the 30-Day Subsidized Yield and 30-Day Unsubsidized Yield will be identical.
FUND
Documents
FUND
Fees & Expenses
Management Fee | 0.50% |
Other Expenses | 0.26% |
Fee Waiver/Expense Reimbursement* | -0.01% |
Net Expense Ratio | 0.75% |
* The Advisor has contractually agreed to keep net expenses from exceeding 0.75% of the Fund’s average daily net assets for at least one year from the date of the prospectus. For more information, please read the full prospectus.
Last Ten
Fund Distributions