Returns Chart

Key Stats

Net Expense Ratio Total Assets Under Management Weighted Average Dividend Yield Turnover Ratio (Generic)
4.30% -- -- 35.00%
1 Year Fund Level Flows 1 Year Total Returns (Daily) Annualized Total Returns Since Inception (Daily) Max Drawdown (Since Inception)
-- 10.74% Upgrade Upgrade

Basic Info

Investment Strategy
The Fund seeks total return. The Fund invests primarily in income-producing instruments which may consist of: residential and commercial mortgage-backed securities; other asset-backed securities and structured credit instruments; whole loans and participations in whole loans; and other income-producing investments.
General
Security Type Unlisted Closed-End Fund
Equity Style --
Broad Asset Class Taxable Bond
Broad Category Fixed Income
Global Peer Group Loan Participation Funds
Peer Group Loan Participation Funds
Global Macro Loan Participation Funds
US Macro General Domestic Taxable Fixed Income Funds
YCharts Categorization --
YCharts Benchmark --
Prospectus Objective Loan Participation Funds
Fund Owner Firm Name AXONIC
Broad Asset Class Benchmark Index
^BBUSATR 100.0%

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Net Fund Flows Versus Peer Group

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1M
3M
6M
YTD
1Y
3Y
5Y
10Y
 
80.00B
60.00B
40.00B
20.00B
0
-20.00B
No Data Available
1 Month
% Rank: --
-1.123B Peer Group Low
637.54M Peer Group High
1 Year
% Rank: --
-2.812B Peer Group Low
6.547B Peer Group High
3 Months
% Rank: --
-1.887B Peer Group Low
1.547B Peer Group High
3 Years
% Rank: --
-3.547B Peer Group Low
20.24B Peer Group High
6 Months
% Rank: --
-852.81M Peer Group Low
2.568B Peer Group High
5 Years
% Rank: --
-2.363B Peer Group Low
22.02B Peer Group High
YTD
% Rank: --
36.88M Peer Group Low
63.96M Peer Group High
10 Years
% Rank: --
-12.19B Peer Group Low
22.50B Peer Group High
Date Unavailable

Performance Versus Peer Group

 
20%
15%
10%
5%
0
Name
1M
3M
YTD
1Y
3Y
5Y
10Y
15Y
Total Return (NAV)
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
Peer Group Rtn. (NAV)
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
% Rank in Peer Group (NAV)
5.0
5.0
5.0
5.0
5.0
5.0
5.0
5.0
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Annual Total Returns Versus Peers

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Name
2019
2020
2021
2022
2023
2024
2025
YTD
4.59%
-9.51%
12.71%
-1.62%
10.24%
12.14%
10.72%
0.34%
8.72%
7.51%
-1.54%
-13.01%
5.53%
1.25%
7.30%
0.24%
10.95%
3.06%
8.58%
-8.26%
17.66%
13.70%
12.32%
0.85%
--
--
--
--
--
11.12%
3.12%
0.46%
--
--
--
--
14.40%
13.76%
10.75%
0.32%
12.64%
2.86%
13.17%
-3.37%
4.82%
5.93%
5.38%
0.00%
As of January 16, 2026.

Fundamentals

General
Distribution Yield --
Dividend Yield TTM (1-14-26) 10.30%
30-Day SEC Yield --
7-Day SEC Yield --
Number of Holdings 68
Bond
Yield to Maturity (10-31-25) 9.21%
Effective Duration --
Average Coupon 6.81%
Calculated Average Quality 5.138
Effective Maturity 12.13
Nominal Maturity 12.13
Number of Bond Holdings 63
As of October 31, 2025

Asset Allocation

As of October 31, 2025.
Type % Net
Cash 10.16%
Stock 0.03%
Bond 98.97%
Convertible 0.00%
Preferred 0.10%
Other -9.26%
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Top 10 Holdings

Name % Weight Price % Change
First American Government Obligations Fd X 10.52% 1.00 0.00%
GSF 2023-1 INVESTOR LLC FRN 31-DEC-2049
10.21% -- --
Dreyfus Government Cash Management Institutional 9.36% 1.00 0.00%
RIVERTREE LANDING APARTMENTS LLC FRN 06-SEP-2028
4.21% -- --
GSF ISSUER LLC FRN 11-AUG-2030
3.90% -- --
27-MAR-2045
3.85% -- --
MCR 2024-TWA Mortgage Trust MCRTWA 14.739 06/13/2039 FIX USD Corporate 3.79% -- --
4-10 WEST 108TH OWNERS LLC FRN 09-NOV-2027
3.59% -- --
JPMCC Multifamily Housing Mortgage Loan Trust 2025-Q032 JPMCMUL 09/25/2054 FLT USD Corporate 144A 3.17% -- --
FRESB 2025-SB119 Mortgage Trust FRESSBCG 7.5 01/25/2035 FIX USD Corporate 144A 3.15% -- --

Fees & Availability

Fees
Actual 12B-1 Fee --
Actual Management Fee 1.25%
Administration Fee --
Maximum Front Load --
Maximum Deferred Load --
Maximum Redemption Fee --
General Availability
Available for Insurance Product No
Available for RRSP No
Purchase Details
Open to New Investors Yes
Minimum Initial Investment 50000.00 None
Minimum Subsequent Investment 0.00 None

Basic Info

Investment Strategy
The Fund seeks total return. The Fund invests primarily in income-producing instruments which may consist of: residential and commercial mortgage-backed securities; other asset-backed securities and structured credit instruments; whole loans and participations in whole loans; and other income-producing investments.
General
Security Type Unlisted Closed-End Fund
Equity Style --
Broad Asset Class Taxable Bond
Broad Category Fixed Income
Global Peer Group Loan Participation Funds
Peer Group Loan Participation Funds
Global Macro Loan Participation Funds
US Macro General Domestic Taxable Fixed Income Funds
YCharts Categorization --
YCharts Benchmark --
Prospectus Objective Loan Participation Funds
Fund Owner Firm Name AXONIC
Broad Asset Class Benchmark Index
^BBUSATR 100.0%

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Fundamentals

General
Distribution Yield --
Dividend Yield TTM (1-14-26) 10.30%
30-Day SEC Yield --
7-Day SEC Yield --
Number of Holdings 68
Bond
Yield to Maturity (10-31-25) 9.21%
Effective Duration --
Average Coupon 6.81%
Calculated Average Quality 5.138
Effective Maturity 12.13
Nominal Maturity 12.13
Number of Bond Holdings 63
As of October 31, 2025

Fund Details

Key Dates
Launch Date 12/28/2018
Share Classes
AAIAX A
Attributes
Inverse Fund No
Leveraged Fund Yes
Currency Hedged Fund --
Socially Responsible Fund No

Top Portfolio Holders

Name % Weight
Portfolio A 5.00%
Portfolio B 3.50%
Portfolio C 2.25%
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