Investment objective & strategy
As of Jan. 23, 2026 · prospectusObjective. The fund has a primary investment objective of high current income and a secondary objective of capital growth.
Strategy. The fund is appropriate for investors seeking diversification and the potential rewards associated with investing in high-yield fixed income securities (also known as junk bonds). High-yield fixed income securities are those that are rated below investment grade. The subadviser uses an investment process that focuses on adding value through issue selection, sector/industry selection and opportunistic trading. The fund will generally overweight those sectors and industries where the subadviser identifies well-valued companies whose business profiles are viewed to be improving. The subadviser attempts to maintain the duration of the fund at a level similar to that of its style benchmark, the Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index. Under normal circumstances, the fund invests at least 80% of its assets … The fund is appropriate for investors seeking diversification and the potential rewards associated with investing in high-yield fixed income securities (also known as junk bonds). High-yield fixed income securities are those that are rated below investment grade. The subadviser uses an investment process that focuses on adding value through issue selection, sector/industry selection and opportunistic trading. The fund will generally overweight those sectors and industries where the subadviser identifies well-valued companies whose business profiles are viewed to be improving. The subadviser attempts to maintain the duration of the fund at a level similar to that of its style benchmark, the Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index. Under normal circumstances, the fund invests at least 80% of its assets in high yield fixed income securities. The fund invests primarily in U.S. securities but may invest in foreign securities including those in emerging markets. The fund may use derivative instruments to increase or hedge (decrease) investment exposure to various fixed income sectors and instruments, including, but not limited to, swaps, futures contracts and currency forwards.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| DREY-GVT CSH-I | MISXX | $1.57M | 3.05% |
| CHTR 4.75 03/01/30 144A | CHTR | $1.05M | 2.04% |
| NATIONSTAR MTG | COOP | $666.60K | 1.30% |
| ENBRIDGE INC SUBORDINATED 01/84 VAR | ENBCN | $613.17K | 1.19% |
| AMER ELEC PWR | — | $561.72K | 1.09% |
| Medline Borrower, L.P. | — | $560.02K | 1.09% |
| LIBMUT V4.125 12/15/51 144A | LIBMUT | $542.18K | 1.06% |
| VSTJET 9.5% Sr Unsecured Nts due 2028 144A | VSTJET | $534.39K | 1.04% |
| BNP PARIBAS SA JR SUBORDINA 144A 12/99 VAR | BNP | $501.89K | 0.98% |
| ASCRES 6.625 07/15/33 144A | ASCRES | $498.41K | 0.97% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Virtus Newfleet High Yield MACS · VMAHX | 64% | 0.00% |
| Virtus Newfleet Short Duration High Income Fund · ASHAX, ASHCX, ASHIX, ASHSX | 39% | 0.55% |
| Virtus Newfleet Short Duration High Yield Bond ETF · VSHY | 39% | 0.39% |
Footnotes
- Expense ratio as of January 23, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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