Barron's #1 Taxable Bond fund


Floating Rate Strategies

Price $24.51
Change ($0.01) / -0.04%
As of 5/23/24


Portfolio Characteristics

  Floating Rate Strategies Credit Suisse Leveraged Loan Index
Weighted Average Life (WAL) to Worst 1.7 1.5
Weighted Average Time to Reset (days) 51 N/A
Yield To Maturity 9.9 10.3
Number of Holdings 329 1,564
Average Price $95.5 $95.9

Weighted average time to reset is the amount of time required for the base interest rate (e.g., LIBOR) of all adjustable-rate securities in the portfolio to reset or adjust to a new base interest rate.

Weighted average life (WAL) to worst represents the weighted average number of years for which each dollar of unpaid principal on a fixed-income security remains outstanding. This calculation is made by making the worst-case scenario assumptions on the issue, assuming any prepayment, call, or sinking fund options are used by the issuer.

Yield to Maturity (YTM) is the total return anticipated on a bond if the bond is held until the end of its lifetime.

Average Price excludes zero coupon, interest only and principal only bonds, preferred securities not priced at 100 par, and other alternative sector buckets when applicable.

Credit Quality (% of Gross Assets)

  Floating Rate Strategies Credit Suisse Leveraged Loan Index
AAA/Govt./Cash 1.8% 0.0%
BBB 6.8% 1.4%
BB 31.1% 24.0%
B 56.1% 60.6%
CCC 2.0% 8.1%
CC 0.6% 0.5%
D 0.0% 0.4%
Not Rated 1.3% 5.0%
Other 0.4% 0.0%

Source: BlackRock Solutions and Barclays. The fund credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). All securities except for those labeled “Not Rated” or “Other Fixed Income” have been rated by a Nationally Recognized Statistical Rating Organization (“NRSRO”). For purposes of this presentation, when ratings are available from more than one NRSRO, the highest rating is used. Guggenheim Investments converts ratings to the equivalent S&P rating.

Unrated securities do not necessarily indicate low credit quality.

Other includes non-fixed-income holdings such as equity, alternatives, non-fixed-income investment vehicles, and derivatives.

Sector Allocation (% of Net Assets)

Bank Loans 92.7%
High Yield Corporate Bonds 4.1%
Net Short Term Investments 1.8%
Non-Agency Mortgage-Backed Securities 0.8%
Equity 0.4%
Investment Grade Corporate Bonds 0.1%
Preferred Securities 0.1%

Net Short Term Investments may include uninvested cash, net unsettled trades, money market funds, commercial paper, repos, reverse repos and other liquid short duration securities.

Since Inception Fund Risk (Institutional Class compared to Credit Suisse Leveraged Loan Index)

Alpha -0.16
Standard Deviation 4.92
Correlation 0.99
Sharpe Ratio 0.74
Up Market Capture 96.29%
Down Market Capture 96.18%

Standard Deviation: A statistical measure of the historical volatility of an investment, usually computed using 36 monthly returns.

Alpha is a measure of the difference between actual returns and its expected performance, given its level of risk as measured by beta. A positive alpha figure indicates the portfolio has performed better than its beta would predict. In contrast, a negative alpha indicates the portfolio has under performed, given the expectations established by beta.

Correlation: A measurement between -1 and 1, which indicates the linear relationship between two variables. If there is no relationship between two variables, the correlation coefficient is 0. If there is a perfect relationship, the correlation is 1. And if there is a perfect inverse relationship, the correlation is -1.

Sharpe Ratio: A risk-adjusted measure developed by William F. Sharpe calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe Ratio, the better the risk-adjusted performance.

Up-Market Capture: A statistical measure of an investment overall performance in up-markets. The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen.

Down-Market Capture: A statistical measure of an investment overall performance in down-markets. The down-market capture ratio is used to evaluate how well or poorly an investment manager performed relative to an index during periods when that index has dropped.

Performance displayed represents past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Current performance may be lower or higher than the performance data quoted. Returns for performance under one year are cumulative, not annualized. Load performance reflects maximum sales charges or contingent deferred sales charges (CDSC) as applicable. Class A-shares have a maximum sales charge of 3.00%. Effective 10/1/2015 the A-Class maximum front-end sales charge was changed from 4.75% to 3.00%. For performance periods that begin prior to 10/1/2015, a 4.75% load was used and for performance periods that begin after 10/1/2015, a 3.00% load was used. Class C-shares have a maximum CDSC of 1% for shares redeemed within 12 months of purchase. For additional information, see the fund's prospectus.

Data is subject to change on a daily basis. Partial year returns are cumulative, not annualized. Returns reflect the reinvestment of dividends.

This Fund may not be suitable for all investors. • Investments in floating rate senior secured syndicated bank loans and other floating rate securities involve special types of risks, including credit rate risk, interest rate risk, liquidity risk and prepayment risk. • The Fund’s market value will change in response to interest rate changes and market conditions among other factors. In general, bond prices rise when interest rates fall and vice versa. • The Fund’s exposure to high yield securities may subject the Fund to greater volatility. • When market conditions are deemed appropriate, the Fund will leverage to the full extent permitted by its investment policies and restrictions and applicable law. Leveraging will exaggerate the effect on net asset value of any increase or decrease in the market value of the Fund’s portfolio. • The Fund may invest in derivative instruments, which may be more volatile and less liquid, increasing the risk of loss when compared to traditional securities. Certain of the derivative instruments are also subject to the risks of counterparty default and adverse tax treatment. • Instruments and strategies (such as borrowing transactions and reverse repurchase agreements) may provide leveraged exposure to a particular investment, which will magnify any gains or losses on those investments. • Investments in reverse repurchase agreements and synthetic instruments (such as synthetic collateralized debt obligations) expose the Fund to the many of the same risks as investments in derivatives. • The Fund’s investments in other investment vehicles subject the Fund to those risks and expenses affecting the investment vehicle. • The Fund’s investments in foreign securities carry additional risks when compared to U.S. securities, due to the impact of diplomatic, political or economic developments in the country in question (investments in emerging markets securities are generally subject to an even greater level of risks). • The Fund’s investments in real estate securities subject the Fund to the same risks as direct investments in real estate, which is particularly sensitive to economic downturns. • The Fund’s investments in restricted securities may involve financial and liquidity risk. • The Fund is subject to active trading risks that may increase volatility and impact its ability to achieve its investment objective. • You may have a gain or loss when you sell your shares. • It is important to note that the Fund is not guaranteed by the U.S. government. • Please read the prospectus for more detailed information regarding these and other risks.

Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objective, risks charges, expenses and the other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available) click here or call 800.820.0888.

Investing involves risk, including the possible loss of principal.

Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, and GS GAMMA Advisors, LLC.

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