Investment objective & strategy
As of Sept. 26, 2025 · prospectusObjective. The Fund seeks the highest possible total return and income consistent with conservation of capital through investment in a diversified portfolio of high yielding, high risk fixed-income securities.
Strategy. At least 80% of the Funds net assets are invested, under normal circumstances, in high-yield, below-investment grade fixed-income securities (often referred to as junk bonds). These securities are rated below Baa3 by Moodys Investor Services, Inc. (Moodys) or BBB by S&P Global Ratings (S&P) or determined to be of comparable quality by the subadviser. Up to 15% of the Funds net assets can be rated below Caa3 by Moodys or CCC by S&P or its equivalent rating by another Nationally Recognized Statistical Ratings Organization. The Fund may also invest up to 35% of its net assets in below-investment grade foreign fixed-income securities. The Fund may also invest up to 20% of its net assets in investment grade fixed-income securities, those … At least 80% of the Funds net assets are invested, under normal circumstances, in high-yield, below-investment grade fixed-income securities (often referred to as junk bonds). These securities are rated below Baa3 by Moodys Investor Services, Inc. (Moodys) or BBB by S&P Global Ratings (S&P) or determined to be of comparable quality by the subadviser. Up to 15% of the Funds net assets can be rated below Caa3 by Moodys or CCC by S&P or its equivalent rating by another Nationally Recognized Statistical Ratings Organization. The Fund may also invest up to 35% of its net assets in below-investment grade foreign fixed-income securities. The Fund may also invest up to 20% of its net assets in investment grade fixed-income securities, those rated Baa3 or higher by Moodys and BBB or higher by S&P. Although the Fund does not routinely invest in equity securities, it may invest in equity securities from time-to-time up to 20% of the Funds net assets. The subadviser analyzes macroeconomic trends to develop an overall picture of a country, market, or market segment and combines that analysis with research on individual securities to achieve the Funds objective. In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Funds total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities. Investors will be given at least 60 days written notice in advance of any change to the Funds 80% investment policy set forth above.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| State Street Navigator Securities Lending Government Money Market Portfolio | — | $16.13M | 4.79% |
| Industrial F&B Investments III Inc | — | $3.54M | 1.05% |
| UNSEAM 7.875 02/15/31 144A | UNSEAM | $3.28M | 0.97% |
| FIXED INC CLEARING CORP.REPO | — | $3.07M | 0.91% |
| STAPLES INC SR SECURED 144A 09/29 10.75 | SPLS | $2.87M | 0.85% |
| 1261229 BC Ltd | — | $2.86M | 0.85% |
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp | — | $2.82M | 0.84% |
| Directv Financing LLC / Directv Financing Co-Obligor Inc. | — | $2.74M | 0.81% |
| Cloud Software Group Inc | — | $2.73M | 0.81% |
| MINERVA MERGER SUB INC | ATHENA | $2.71M | 0.80% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| THE HARTFORD HIGH YIELD FUND · HAHAX, HAHCX, HAHYX, HAHRX, HAHSX, HAHTX, HAHIX, HAHFX, HAHVX | 83% | 0.55% |
| HIGH-YIELD BOND PORTFOLIO | 30% | 0.24% |
| VANGUARD HIGH-YIELD CORPORATE FUND · VWEHX, VWEAX | 29% | 0.12% |
Advisers
| Firm | Role |
|---|---|
| Wellington Management Company LLP | Sub-adviser |
| The Variable Annuity Life Insurance Company | Adviser |
Footnotes
- Expense ratio as of September 26, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 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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