Durig Fixed Income FX2 Review November 2017

For many years, we have been publishing our FX2 high-yield bond ideas on Bond-Yields.com as they were added to our FX2 client portfolios.  The relatively standard benchmarks shown below are compared to the Year-to-Date (YTD),Trailing 1 year, Trailing 3 year and Trailing 5 year returns provided by the High-Yield Bond Mutual Fund database provided by Morningstar.

 

FX2 Benchmark 11-9-17

We estimate that Morningstar tracks the performance of and benchmarks close to 800 High-Yielding Bond Mutual Funds, and on November 10th, 2017, this is how our clients aggregated FX2 portfolios compared to Morningstar’s high-yield bond fund database:

 

YTD   

Year-to-Date, FX2 returns were up 16.86%, and outperformed every high-yield bond mutual fund that was listed. The top five performing high-yield bond funds we identified on Morningstar in YTD return were:

 

FX2  up 16.86% YTD

1. Fidelity Capital Income up 10.20%

2. DDJ Opportunistic High Yield Institutional  up 9.92%

3. DDJ Opportunistic High Yield 1 up 9.91%

4. Deer park Total Return Credit I up 9.81%

5. Fidelity Advisors High Yield Advantage I up 9.72%

  • The average YTD return among high-yield bond mutual funds listed was 5.61%

  • FX2 aggregated year to date returns were 201% above the average YTD return of the high-yield bond mutual funds listed

Trailing 1 Year

For a 1 Year period, FX2 aggregated returns were up 19.74%, outperforming all high-yield bond mutual funds that were listed.  The top five performing high-yield bond funds we identified on Morningstar for Trailing one year return were:

 

FX2  up 19.74% Trailing 1 Year

1. Catalyst SMH High Income A up 14.13%

2. Catalyst SMH High Income I up 14.10%

3. Highland Opportunistic Credit Z up 13.88%

4. Highland Opportunistic Credit A up 13.72%

5. Highland Opportunistic Credit C up 13.17%

  • The average trailing 1 year return among the high-yield bond mutual funds listed was 7.74%

  • FX2 aggregated returns outperformed the average trailing 1 year return of the high-yield bond mutual funds listed by 155%

Trailing 3 Year

For a 3 Year period, FX2 aggregated returns were up 9.98%, outperforming all high-yield bond mutual funds that were listed.  The top five performing high-yield bond funds we identified on Morningstar for Trailing three year return were:

 

FX2  up 9.98% Trailing 3 Year

1. Fairholme Focused Income up 7.60%

2. Artisan High Income Advisor up 7.21%

3. Artisan High Income Investor up 7.03%

4. Credit Suisse Strategic Income I up 6.72%

5. Diamond Hill Corporate Credit Y up 6.64%

  • The average trailing 3 year return among the high-yield bond mutual funds listed was 3.85%

  • FX2 aggregated returns outperformed the average trailing 3 year return of the high-yield bond mutual funds listed by 159.2%

 

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Trailing 5 Year

For a 5 Year period FX2 aggregated returns were up 9.81%, outperforming all high-yield bond mutual funds listed. The top five performing high-yield bond mutual funds we identified on Morningstar for Trailing three year return were:

 

FX2  up 9.81% Trailing 5 Year

1. Fairholme Focused Income up 8.49%

2. Fidelity Capital & Income up 7.71%

3. Credit Suisse Strategic Income I up 7.50%

4. Fidelity Advisor High Income Advantage I up 7.49%

5. Morgan Stanley Institutional High Yield I up 7.45 %

  • The average trailing 5 year return among the high-yield bond mutual funds listed was 4.88%

  • FX2 aggregated returns outperformed the average trailing 5 year return of the high-yield bond mutual funds listed by 101%

Past performance is no guarantee of future results. FX2 is a composite of individual (segregated) bond accounts comprised of individual bond positions, with return averages both higher and lower than the FX2 composite returns.  Individualized segregated accounts are a different investment vehicle than bond funds offering more easily customized asset allocation and tax accountability compared to having all the investments held in one single large pool.  To learn more, find us at:

 

Durig Capital, Inc.

Registered Investment Advisor

11600 SW 69th Avenue

Tigard, Oregon 97223

Toll Free: (877) 359-5319

Fax: (971) 732-5121

E-mail us at:

Info@Durig.com

Find FX2 on the web at: fixed-income2.com

Ask a question, or, tell us what you’re looking for:

To learn more about this bond call our fixed income specialist at (971) 327-8847

Always putting your interests first,

Randy Durig
Registered Investment Advisor
DIR  971-732-5119


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