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If investors are looking at the High Yield - Bonds fund category, Artisan High Income Fund Investor Shares (ARTFX - Free Report) could be a potential option. ARTFX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
ARTFX is classified in the High Yield - Bonds segment by Zacks, an area full of investment possibilities. High Yield - Bonds funds come in below investment grade, and are referred to as "junk" bonds for this reason. Compared to their investment grade peers, these funds are at a higher default risk, but typically pay out higher yields while posing similar interest rate risks.
History of Fund/Manager
ARTFX finds itself in the Artisan Funds family, based out of Boston, MA. The Artisan High Income Fund Investor Shares made its debut in March of 2014 and ARTFX has managed to accumulate roughly $707.67 million in assets, as of the most recently available information. The fund's current manager, Bryan Krug, has been in charge of the fund since March of 2014.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 4.51%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 8.52%, 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. Compared to the category average of 8.25%, the standard deviation of ARTFX over the past three years is 4.12%. The fund's standard deviation over the past 5 years is 6.13% compared to the category average of 10.33%. This makes the fund less volatile than its peers over the past half-decade.
Bond Duration
Modified duration is a measure of a specific bond's interest rate sensitivity, and is an excellent way to judge how fixed income securities will respond to a shifting rate environment.
If you believe interest rates will rise, this is an important factor to look at. ARTFX has a modified duration of 2.22, which suggests that the fund will decline 2.22% for every hundred-basis-point increase in interest rates.
Income
It is important to consider the fund's average coupon because income is often a big reason for purchasing a fixed income security. Average coupon is a look at the average payout by the fund in a given year. For example, this fund's average coupon of 7.09% means that a $10,000 investment should result in a yearly payout of $709.
If you are looking for a strong level of current income, a higher coupon is a good choice, though it could pose a reinvestment risk; these risks can occur if rates are lower in the future when compared to the initial purchase date of the bond. Since income is just one part of the bond picture, investors need to consider risk relative to broad benchmarks.
ARTFX carries a beta of 0.22, meaning that the fund is less volatile than a broad market index of fixed income securities. With this in mind, it has a positive alpha of 3.09, which measures performance on a risk-adjusted basis.
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, ARTFX is a no load fund. It has an expense ratio of 0.94% compared to the category average of 0.91%. Looking at the fund from a cost perspective, ARTFX is actually more expensive than its peers.
Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment has no minimum amount.
Fees charged by investment advisors have not been taken into consideration. Returns would be less if those were included.
Bottom Line
Overall, Artisan High Income Fund Investor Shares ( ARTFX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and higher fees, Artisan High Income Fund Investor Shares ( ARTFX ) looks like a good potential choice for investors right now.
Want even more information about ARTFX? 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 ARTFX a Strong Bond Fund Right Now?
If investors are looking at the High Yield - Bonds fund category, Artisan High Income Fund Investor Shares (ARTFX - Free Report) could be a potential option. ARTFX carries a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.
Objective
ARTFX is classified in the High Yield - Bonds segment by Zacks, an area full of investment possibilities. High Yield - Bonds funds come in below investment grade, and are referred to as "junk" bonds for this reason. Compared to their investment grade peers, these funds are at a higher default risk, but typically pay out higher yields while posing similar interest rate risks.
History of Fund/Manager
ARTFX finds itself in the Artisan Funds family, based out of Boston, MA. The Artisan High Income Fund Investor Shares made its debut in March of 2014 and ARTFX has managed to accumulate roughly $707.67 million in assets, as of the most recently available information. The fund's current manager, Bryan Krug, has been in charge of the fund since March of 2014.
Performance
Investors naturally seek funds with strong performance. This fund carries a 5-year annualized total return of 4.51%, and is in the top third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 8.52%, 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. Compared to the category average of 8.25%, the standard deviation of ARTFX over the past three years is 4.12%. The fund's standard deviation over the past 5 years is 6.13% compared to the category average of 10.33%. This makes the fund less volatile than its peers over the past half-decade.
Bond Duration
Modified duration is a measure of a specific bond's interest rate sensitivity, and is an excellent way to judge how fixed income securities will respond to a shifting rate environment.
If you believe interest rates will rise, this is an important factor to look at. ARTFX has a modified duration of 2.22, which suggests that the fund will decline 2.22% for every hundred-basis-point increase in interest rates.
Income
It is important to consider the fund's average coupon because income is often a big reason for purchasing a fixed income security. Average coupon is a look at the average payout by the fund in a given year. For example, this fund's average coupon of 7.09% means that a $10,000 investment should result in a yearly payout of $709.
If you are looking for a strong level of current income, a higher coupon is a good choice, though it could pose a reinvestment risk; these risks can occur if rates are lower in the future when compared to the initial purchase date of the bond. Since income is just one part of the bond picture, investors need to consider risk relative to broad benchmarks.
ARTFX carries a beta of 0.22, meaning that the fund is less volatile than a broad market index of fixed income securities. With this in mind, it has a positive alpha of 3.09, which measures performance on a risk-adjusted basis.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, ARTFX is a no load fund. It has an expense ratio of 0.94% compared to the category average of 0.91%. Looking at the fund from a cost perspective, ARTFX is actually more expensive than its peers.
Investors should also note that the minimum initial investment for the product is $1,000 and that each subsequent investment has no minimum amount.
Fees charged by investment advisors have not been taken into consideration. Returns would be less if those were included.
Bottom Line
Overall, Artisan High Income Fund Investor Shares ( ARTFX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively strong performance, average downside risk, and higher fees, Artisan High Income Fund Investor Shares ( ARTFX ) looks like a good potential choice for investors right now.
Want even more information about ARTFX? 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.