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On the lookout for a High Yield - Bonds fund? Starting with Virtus Seix Floating Rate High Income I (SAMBX - Free Report) is one possibility. SAMBX bears a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
SAMBX is part of the High Yield - Bonds section, which is a segment that boasts many possible options. Often referred to as " junk " bonds, High Yield - Bonds funds sit below investment grade, meaning they are at a high default risk compared to their investment grade peers. However, one advantage to junk bonds is that they generally pay out higher yields while posing similar interest rate risks to their investment grade counterparts.
History of Fund/Manager
Virtus Funds is responsible for SAMBX, and the company is based out of Hartford, CT. Virtus Seix Floating Rate High Income I debuted in March of 2006. Since then, SAMBX has accumulated assets of about $1.30 billion, according to the most recently available information. A team of investment professionals is the fund's current manager.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. SAMBX has a 5-year annualized total return of 4.24% and it sits in the bottom third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 5.25%, which places it in the top third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, SAMBX's standard deviation comes in at 3.75%, compared to the category average of 12.56%. The standard deviation of the fund over the past 5 years is 6.84% compared to the category average of 13.8%. This makes the fund less volatile than its peers over the past half-decade.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, SAMBX is a no load fund. It has an expense ratio of 0.64% compared to the category average of 0.95%. SAMBX is actually cheaper than its peers when you consider factors like cost.
This fund requires a minimum initial investment of $100,000, while there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Virtus Seix Floating Rate High Income I ( SAMBX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, better downside risk, and lower fees, this fund looks like a great potential choice for investors right now.
Want even more information about SAMBX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.
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Is SAMBX a Strong Bond Fund Right Now?
On the lookout for a High Yield - Bonds fund? Starting with Virtus Seix Floating Rate High Income I (SAMBX - Free Report) is one possibility. SAMBX bears a Zacks Mutual Fund Rank of 2 (Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
SAMBX is part of the High Yield - Bonds section, which is a segment that boasts many possible options. Often referred to as " junk " bonds, High Yield - Bonds funds sit below investment grade, meaning they are at a high default risk compared to their investment grade peers. However, one advantage to junk bonds is that they generally pay out higher yields while posing similar interest rate risks to their investment grade counterparts.
History of Fund/Manager
Virtus Funds is responsible for SAMBX, and the company is based out of Hartford, CT. Virtus Seix Floating Rate High Income I debuted in March of 2006. Since then, SAMBX has accumulated assets of about $1.30 billion, according to the most recently available information. A team of investment professionals is the fund's current manager.
Performance
Obviously, what investors are looking for in these funds is strong performance relative to their peers. SAMBX has a 5-year annualized total return of 4.24% and it sits in the bottom third among its category peers. But if you are looking for a shorter time frame, it is also worth looking at its 3-year annualized total return of 5.25%, which places it in the top third during this time-frame.
It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.
When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, SAMBX's standard deviation comes in at 3.75%, compared to the category average of 12.56%. The standard deviation of the fund over the past 5 years is 6.84% compared to the category average of 13.8%. This makes the fund less volatile than its peers over the past half-decade.
Expenses
For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, SAMBX is a no load fund. It has an expense ratio of 0.64% compared to the category average of 0.95%. SAMBX is actually cheaper than its peers when you consider factors like cost.
This fund requires a minimum initial investment of $100,000, while there is no minimum for each subsequent investment.
Fees charged by investment advisors have not been taken into considiration. Returns would be less if those were included.
Bottom Line
Overall, Virtus Seix Floating Rate High Income I ( SAMBX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively weak performance, better downside risk, and lower fees, this fund looks like a great potential choice for investors right now.
Want even more information about SAMBX? Then go over to Zacks.com and check out our mutual fund comparison tool, and all of the other great features that we have to help you with your mutual fund analysis for additional information. Zacks provides a full suite of tools to help you analyze your portfolio - both funds and stocks - in the most efficient way possible.