STIFX — Virtus Seix Corporate Bond Fund
Data updated: 2024-11-22
STIFX — Virtus Seix Corporate Bond Fund. Intermediate Corporate Bond · $18.54M AUM · 1.65% expense ratio. Holdings, fees, performance and SEC filings.
STIFX Fund Overview
STIFX — Virtus Seix Corporate Bond Fund is a US mutual fund managed by Virtus Asset Trust, categorised as Intermediate Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Virtus Asset Trust
- Category: Intermediate Corporate Bond
- Assets under management: $18.54M
- 1-year return: -1.1%
- Ticker: STIFX
- SEC CIK: 0001018593
- SEC series ID: S000057045
- Share class ID: C000181244
STIFX Investment Objective and Strategy
Virtus Seix Corporate Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Virtus Asset Trust.
Investment objective
The fund has an investment objective of seeking to maximize long term total return through a combination of current income and capital appreciation, consistent with capital preservation.
Principal investment strategy
The fund primarily invests in a diversified portfolio of U.S. dollar denominated corporate obligations and other fixed income securities that are rated investment grade (BBB-/Baa3 or better) or unrated securities that the subadviser believes are of comparable quality. There are no limits on the fund's average-weighted maturity or on the remaining maturities of individual securities in which the fund may invest. As a result of its investment strategy, the fund's portfolio turnover rate may be 100% or more. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in corporate bonds. The fund may also invest in U.S. Treasury and agency obligations, floating rate loans, and below investment grade, high yield debt obligations (sometimes referred to as junk bonds), including emerging market securities.
The fund may invest in U.S. dollar denominated obligations of U.S. and non-U.S. issuers. The fund may invest a portion of its assets in securities that are restricted as to resale. Buy and sell decisions are based on a wide number of factors that determine the risk-reward profile of each security within the context of the broader portfolio. The subadviser attempts to identify investment grade corporate bonds offering above-average total return. In selecting corporate debt investments for purchase and sale, the subadviser seeks out companies with good fundamentals and above-average return prospects that are currently priced at attractive levels. The primary basis for security selection is the potential income offered by the security relative to the subadviser's assessment of the issuer's ability to generate the cash flow required to meet its obligations.
The subadviser employs a bottom-up approach, identifying investment opportunities based on the underlying financial and economic fundamentals of the specific issuer. The subadviser anticipates that the fund's modified-adjusted-duration will mirror that of the Bloomberg Barclays U.S. Corporate Investment Grade Index, plus or minus 20%. For example, if the duration of the Bloomberg Barclays U.S. Corporate Investment Grade Index is 5 years, the fund's duration may be 4-6 years. As of December 31, 2017, the duration of the Bloomberg Barclays U.S. Corporate Investment Grade Index was 7.58 years. Duration measures a bond or fund's sensitivity to interest rate or other changes (such as changes in a bond's yield) and is expressed as a number of years. The higher the number, the greater the risk. Under normal circumstances, for example, if a portfolio has a duration of 5 years, its value will change by 5% if yields change by 1%.
Shorter duration bonds generally result in lower expected volatility. In addition, to implement its investment strategy, the fund may buy or sell derivative instruments (such as foreign currency forward contracts, swaps, including credit default swaps, futures, credit linked notes, options, inverse floaters and warrants) to use as a substitute for a purchase or sale of a position in the underlying assets and/or as part of a strategy designed to reduce exposure to other risks, such as interest rate or credit risks. The fund may count the value of certain derivatives with corporate bond characteristics towards its policy to invest, under normal circumstances, at least 80% of its net assets in corporate bonds.
STIFX Holdings
Top 10 holdings of Virtus Seix Corporate Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Freeport-Mcmoran, Inc. | 2.93% |
| Autozone, Inc. D 10/01/2024 | 2.70% |
| Philip Morris Intl, Inc. | 2.61% |
| Newmont Corp. | 2.59% |
| Kimberly-Clark Corp. | 2.53% |
| Bpce SA | 2.53% |
| Bp Cap Markets America | 2.45% |
| Goldman Sachs Group, Inc. | 2.45% |
| US Treasury N/b | 2.45% |
| Con Edison Co. Of Ny, Inc. | 2.42% |
STIFX Portfolio Allocation
Asset-class allocation of Virtus Seix Corporate Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 98.1% |
STIFX Performance
Total returns for STIFX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -1.1% |
| 3 years (annualised) | -14.4% |
| 5 years (annualised) | -10.7% |
STIFX Risk Information
Risk metrics for STIFX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.8%
STIFX Costs and Fees
STIFX costs about $165 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.65%
- Gross expense ratio: 1.90%
- Portfolio turnover: 118%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
STIFX Cashflows
Over the 12 months to 2024-09, Virtus Seix Corporate Bond Fund had net outflows of $18.73M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-09 | −$765.17K |
| 2024-08 | −$841.54K |
| 2024-07 | −$1.81M |
| 2024-06 | −$2.59M |
| 2024-05 | −$2.42M |
| 2024-04 | −$18.64M |
STIFX Debt Constituents
Largest debt holdings of Virtus Seix Corporate Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Freeport-Mcmoran, Inc. | 2.93% |
| Autozone, Inc. D 10/01/2024 | 2.70% |
| Philip Morris Intl, Inc. | 2.61% |
| Newmont Corp. | 2.59% |
| Kimberly-Clark Corp. | 2.53% |
| Bpce SA | 2.53% |
| Bp Cap Markets America | 2.45% |
| Goldman Sachs Group, Inc. | 2.45% |
| US Treasury N/b | 2.45% |
| Con Edison Co. Of Ny, Inc. | 2.42% |
STIFX Prospectus and SEC Filings
Official Virtus Seix Corporate Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-04-24
- Prospectus (485BPOS) — filed 2023-04-24
- Prospectus (485BPOS) — filed 2022-04-25
- Portfolio holdings (N-PORT) — filed 2024-11-22
- Portfolio holdings (N-PORT) — filed 2024-08-26
- Portfolio holdings (N-PORT) — filed 2024-05-24
- Annual census (N-CEN) — filed 2024-03-14
- Annual census (N-CEN) — filed 2023-03-13
Related Funds
Other Intermediate Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.