The high yield bond market:
Our defensive “tactical” indicators strive to provide investors with:
|NAME||Quarter||1 Yr||2 Yr||3 Yr||Annualized Since Inception|
|NAME Market Price||Quarter -0.73%||1 Yr -0.08%||2 Yr -6.32%||3 Yr N/A||Annualized Since Inception -3.95%|
|NAME NAV||Quarter -0.82%||1 Yr -0.16%||2 Yr -6.35%||3 Yr N/A||Annualized Since Inception -3.98%|
|NAME Bloomberg US Aggregate Bond Index||Quarter -0.84%||1 Yr -0.94%||2 Yr -5.73%||3 Yr N/A||Annualized Since Inception -4.95%|
Expense Ratio: 0.95%. The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (toll free 800-617-0004). Short term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns.
|Calendar Year 2022||Calendar Year 2023 through June 30, 2023|
|Days Traded at premium||105||73|
|Days Traded at net asset value||0||0|
|Days Traded at discount||146||51|
This table and line graph are provided to show the frequency at which the closing price of the Fund was at a premium (above) or discount (below) to the Fund’s daily net asset value (“NAV”). The table and line graph represent past performance and cannot be used to predict future results. Shareholders may pay more than NAV when buying Fund shares and receive less than NAV when those shares are sold because shares are bought and sold at current market prices.
|EX-DATE||RECORD DATE||PAYABLE DATE||AMOUNT|
|EX-DATE 12/30/2020||RECORD DATE 12/31/2020||PAYABLE DATE 1/4/2021||AMOUNT $0.09245984|
|EX-DATE 3/3/2021||RECORD DATE 3/4/2021||PAYABLE DATE 3/5/2021||AMOUNT $0.17045379|
|EX-DATE 6/3/2021||RECORD DATE 6/4/2021||PAYABLE DATE 6/7/2021||AMOUNT $0.22709|
|EX-DATE 9/2/2021||RECORD DATE 9/7/2021||PAYABLE DATE 9/8/2021||AMOUNT $0.240209|
|EX-DATE 12/30/2021||RECORD DATE 12/31/2021||PAYABLE DATE 1/3/2022||AMOUNT $0.07013752|
|EX-DATE 3/3/2022||RECORD DATE 3/4/2022||PAYABLE DATE 3/7/2022||AMOUNT $0.05252219|
|EX-DATE 6/3/2022||RECORD DATE 6/4/2022||PAYABLE DATE 6/7/2022||AMOUNT $0.14131514|
|EX-DATE 9/6/2022||RECORD DATE 9/7/2022||PAYABLE DATE 9/8/2022||AMOUNT $0.13848661|
|EX-DATE 12/28/2022||RECORD DATE 12/29/2022||PAYABLE DATE 12/30/2022||AMOUNT $0.08851941|
|EX-DATE 3/3/2023||RECORD DATE 3/6/2023||PAYABLE DATE 3/7/2023||AMOUNT $0.14720082|
|EX-DATE 6/5/2023||RECORD DATE 6/6/2023||PAYABLE DATE 6/7/2023||AMOUNT $0.24842793|
|EX-DATE 9/6/2023||RECORD DATE 9/7/2023||PAYABLE DATE 9/8/2023||AMOUNT $0.30581249|
Introducing the first edition of our FCF Spotlights and Rankings report. Our clients are always asking, “where has the free cash flow gone recently?” In this monthly report, we will highlight free cash flow profitability sector leaders and laggers, sector climbers and sliders and spotlight two names that have recently entered and exited the portfolio. We look forward to your feedback!
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