Virtus Newfleet Multi-Sector Bond ETF
The Fund seeks to provide a high level of current income and capital appreciation. It strives to achieve long-term excess returns through the combination of actively managed sector rotation, individual security selection, and disciplined risk management.
ETF Central presented by NYSE with David Albrycht
Virtus Newfleet Multi-Sector Bond ETF (NFLT)
Newfleet Asset Management
Newfleet Asset Management leverages the knowledge and skill of a team of investment professionals with expertise in every sector of the bond market, including evolving, specialized, and out-of-favor sectors. The team employs active sector rotation and disciplined risk management to portfolio construction.
Newfleet Asset Management is a division of Virtus Fixed Income Advisers, LLC ("VFIA"), an SEC registered investment adviser.
Learn more about Newfleet Asset Management
David L. Albrycht, CFA
President and Chief Investment Officer
Industry start date: 1985
Start date as fund Portfolio Manager: 2015
David Albrycht is president and chief investment officer of Newfleet Asset Management, an affiliated manager of Virtus Investment Partners. Mr. Albrycht is the senior portfolio manager of several multi-sector fixed income strategies, some dating back to the early 1990s.
In his role as CIO, Mr. Albrycht drives top-down strategy for Newfleet’s investment platform, which includes multi-sector and dedicated sector strategies for high yield and bank loans. In addition to managing mutual funds and variable investment options in these strategies, Mr. Albrycht is co-manager of two closed-end funds, Virtus Total Return Fund Inc. (NYSE: ZTR) and Virtus Global Multi-Sector Income Fund (NYSE: VGI). He also is co-manager of four exchange traded funds, Virtus Newfleet Multi-Sector Bond ETF (NYSE: NFLT), Virtus Newfleet Short Duration Core Plus Bond ETF (NYSE: SDCP), Virtus Newfleet High Yield Bond ETF (NYSE: BLHY), and Virtus Newfleet ABS/MBS ETF (NYSE: VABS), and two offshore funds, the Virtus GF Multi-Sector Short Duration Bond Fund and the Virtus GF Multi-Sector Income Fund. Additionally, Mr. Albrycht is responsible for the structuring and management of Newfleet’s CLO platform.
Prior to joining Newfleet in 2011, Mr. Albrycht was executive managing director and senior portfolio manager with Goodwin Capital Advisers, a former investment management subsidiary of Newfleet’s parent, Virtus Investment Partners. Prior to that role, Mr. Albrycht was director of credit research at Goodwin’s predecessor, Phoenix Investment Counsel (PIC). In addition, he managed the Phoenix MISTIC CDO, a $1 billion multi-sector collateralized debt obligation, for which he was responsible for credit analysis and deal structure. He joined the PIC multi-sector fixed income team in 1985 as a credit analyst and has managed fixed income portfolios since 1991.
Mr. Albrycht earned a B.A., cum laude, from Central Connecticut State University and an M.B.A., with honors, from the University of Connecticut. He is a CFA® (Chartered Financial Analyst®) charterholder. He began his career in the investment industry in 1985.
Newfleet Asset Management is a division of Virtus Fixed Income Advisers, LLC (“VFIA”), an SEC registered investment adviser.
Please consider a Fund’s investment objectives, risks, charges, and expenses carefully before investing. For this and other information about any Virtus Fund, contact your financial professional, call 800-243-4361, or visit virtus.com for a prospectus or summary prospectus. Read it carefully before investing.
Mutual Funds, Virtus Newfleet ETFs, and Virtus Global Funds distributed by VP Distributors, LLC, member FINRA and subsidiary of Virtus Investment Partners, Inc.
Benjamin Caron, CFA
Senior Managing Director and Portfolio Manager
Industry start date: 1997
Start date as fund Portfolio Manager: 2019
Ben Caron is a senior managing director and portfolio manager at Newfleet Asset Management, an affiliated manager of Virtus Investment Partners.
Prior to joining Newfleet in 2011, Mr. Caron was on the fixed income team at Goodwin Capital Advisers, a former Virtus investment management subsidiary. He joined Goodwin Capital in 2002 as a client service associate for the institutional markets group focusing on institutional fixed income clients. Earlier in his career, he was with Fidelity Investments, where he was responsible for client management and sales in the managed account group.
Mr. Caron earned a B.A. from Syracuse University and an M.B.A. from Suffolk University. He is a Chartered Financial Analyst® (CFA®) charterholder. Mr. Caron began his career in the investment industry in 1997.
Opportunistic, diversified bond portfolio pursues the greatest risk/reward potential across bond markets
Flexible Fixed Income Exposure
Unconstrained across sectors with no target duration
Active Sector Rotation
Top-down analysis weighs relative attractiveness of bond sectors, evaluating fundamentals, yields, spreads, and supply/demand dynamics
Top Holdings (% Fund)
|US TREASURY N/B 3.375 05/15/2033||
|US TREASURY N/B 1.000 12/15/2024||
|FR SD8309 6.000 03/01/2053||
|FN MA4980 6.000 04/01/2053||
|US TREASURY N/B 3.625 05/15/2053||
|US TREASURY N/B 1.875 11/15/2051||
|NRZT 2017-2A A3 4.000 03/25/2057||
|FN FS4438 5.000 11/01/2052||
|FN MA4805 4.500 11/01/2052||
|AMSR 2020-SFR1 A 1.819 04/17/2037||
Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate, so your shares, when redeemed, may be worth more or less than their original cost.
Fees & Expenses
|Total Expense Ratio (Gross)||1.03|
|Total Expense Ratio (Net)||0.50|
Yields / Distribution Rate1(as of 10/31/2023)
|30-day SEC Yield||7.04|
|30-day SEC Yield (unsubsidized)||6.71|
|Distribution Rate (as of 11/27/2023)||8.30|
|Ex-Date||Record Date||Payable Date||Dividend Income||ST Capital Gains||LT Capital Gains||Distribution Total|
Please view the Fund’s Section 19-a notices, which set forth information regarding the composition of the distributions, including any portion that may constitute a return of capital.
|Period||Number of Days Fund has Traded at a:|
|Less than -2%||-1.51% to -2.00%||-1.01% to -1.50%||-0.51% to -1.00%||-0.01% to -0.50%||0.00% to 0.50%||0.51% to 1.00%||1.01% to 1.50%||1.51% to 2.00%||Greater than 2%|
|2021-Q4: 10/1/2021 through 12/31/2021||0||0||0||0||14||50||0||0||0||0|
|2022-Q1: 1/3/2022 through 3/31/2022||0||0||0||0||13||49||0||0||0||0|
|2022-Q2: 4/1/2022 through 6/30/2022||0||0||0||0||8||54||0||0||0||0|
|2022-Q3: 7/1/2022 through 9/30/2022||0||0||0||0||26||38||0||0||0||0|
|2022-Q4: 10/3/2022 through 12/30/2022||0||0||0||0||27||36||0||0||0||0|
|2023-Q1: 1/3/2023 through 3/31/2023||0||0||0||0||31||31||0||0||0||0|
|2023-Q2: 4/3/2023 through 6/30/2023||0||0||0||0||36||26||0||0||0||0|
|2023-Q3: 7/3/2023 through 9/29/2023||0||0||0||0||35||28||0||0||0||0|
Documents & Resources
|Virtus ETF Ticker Menu|
|ETF Product Guide|
|Spotlight on Global Credit|
|Is Now an Unprecedented Moment in the Fixed Income Market?|
|Newfleet Fixed Income Fund Capabilities|
|The Case for Multi-Sector Fixed Income Investing Remains Strong in the Current Environment|
Section 19a Notices
|Virtus Newfleet Multi-Sector Bond ETF - NFLT - 19a-1 (November 2022)|
|Virtus Newfleet Multi-Sector Bond ETF - NFLT - 19a-1 (October 2022)|
|Virtus Newfleet Multi-Sector Bond ETF - NFLT - 19a-1 (September 2022)|
|Virtus Newfleet Multi Sector Bond ETF - NFLT - 19a-1 (August 2022)|
|Virtus Newfleet Multi-Sector Bond ETF - NFLT - 19a-1 (July 2022)|
|Virtus Newfleet Multi-Sector Bond ETF - NFLT - 19a-1 (November 2021)|
Please consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. Contact us at 1-888-383-0553 or visit www.virtus.com for a copy of the Fund's prospectus. Read the prospectus carefully before you invest or send money.
The Fund is an actively managed exchange-traded fund (“ETF”) and does not seek to replicate the performance of a specified index. The Fund may have a higher portfolio turnover than funds that seek to replicate the performance of an index.
Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate so your shares, when redeemed, may be worth more or less than their original cost.
Closing Price: The Closing Price is the price of the last reported trade on the fund's primary exchange. If there has been no reported trade for a particular date, the Closing Price represents the 4PM Bid/Offer Midpoint.
4PM Bid/Offer Midpoint: The midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00pm Eastern Time).
Premium/Discount: The amount the Fund is trading above or below the reported NAV (based on 4PM Bid/Offer Midpoint).
The Fund is an exchange-traded fund (“ETF”). The “net asset value” (NAV) of the Fund is determined at the close of each business day, and represents the dollar value of one share of the Fund; it is calculated by taking the total assets of the Fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV of the Fund is not necessarily the same as its intraday trading value. Fund investors should not expect to buy or sell shares at NAV because shares of ETFs such as the Fund are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Thus, shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.
NAV returns are calculated using the Fund’s daily 4:00 p.m. NAV, and include the reinvestment of all dividends and other distributions (reinvested at the Fund's NAV on distribution ex-date). Market price returns are calculated using the 4:00 pm midpoint between the bid and offer, and include the reinvestment of all dividends and other distributions (reinvested at the 4:00pm bid/offer midpoint on distribution ex-date). Market price returns do not represent the return you would receive if you traded at other times.
1 Yields/Distributions: 30-day SEC Yield is a standardized yield calculated according to a formula set by the SEC, and is subject to change. 30-day SEC Yield (unsubsidized) is the 30-day SEC Yield without the effect of applicable expense waivers. Distribution Rate is the annual rate that an investor would receive if the most recent distribution remained the same going forward. The rate represents a single distribution from the Fund and does not represent total return of the Fund. The distribution rate is calculated by annualizing the most recent distribution and dividing it by the most recent NAV.
2 Distribution History: Distributions are represented on a cash basis and may be reclassified at year end for tax purposes. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. STCG: Short Term Capital Gain, LTCG: Long Term Capital Gain
Returns for periods of less than one year are cumulative total returns.
Not insured by FDIC/NCUSIF or any federal government agency. No bank guarantee. Not a deposit. May lose value.