Home / Mutual Fund / Newfleet Senior Floating Rate
Mutual Fund Fixed Income Leveraged Finance

Newfleet Senior Floating Rate

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$ (as of )
Total Assets by Class
$72,456,570.66 (as of 10/22/2021)
Total Assets by Fund
$219,329,902.27 (as of 10/22/2021)
Morningstar Category
Bank Loan

Portfolio Overview

Investment Overview

The Fund seeks to generate attractive total return and income by primarily investing in senior-secured, non-investment grade bank loans. Newfleet applies a disciplined, time-tested investment process focused on managing risk and capturing valuation opportunities with strong income attributes.

Management Team

Investment Partner

Newfleet Asset Management, LLC

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.

Learn more about Newfleet Asset Management, LLC

Investment Professionals

David Albrycht, CFA

David L. Albrycht, CFA

President and Chief Investment Officer

Industry start date: 1985
Start date as fund Portfolio Manager: 2008

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Kyle Jennings

Kyle A. Jennings, CFA

Senior Managing Director and Head of Credit Research

Industry start date: 1992
Start date as fund Portfolio Manager: 2008

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Francesco Ossino

Francesco Ossino

Senior Managing Director, Senior Portfolio Manager, and Bank Loan Sector Head

Industry start date: 1996
Start date as fund Portfolio Manager: 2012

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Key Features


Provides exposure to floating rate securities, which have historically offered relatively high income potential with low correlations to other fixed income segments

A Potential Rising Rate Hedge

Periodic coupon resets may help floating rate debt protect against interest rate risk and principal value fluctuations in rising interest rate periods

Extensive Credit Research

Top-down and bottom-up analysis evaluates relative industry attractiveness and individual security and company credit risk and investment potential

Portfolio Characteristics


(as of 09/30/2021)
Effective Duration (years) 0.35

Top Holdings (% Fund)

(as of 09/30/2021)
INEOS US Finance LLC, 2024 Dollar Term Loan, 04/01/2024
Playa Resorts Holding BV, Initial Term Loan, 04/29/2024
TransDigm Inc, Tranche F Refinancing Term Loan, 12/09/2025
Univision Communications Inc, 2017 Replacement Repriced First-Lien Term Loan, 03/15/2024
Sedgwick Claims Management Services Inc, Initial Term Loan, 12/31/2025
Citadel Securities LP, 2021 Term Loan, 02/02/2028
Nouryon USA LLC, Initial Dollar Term Loan, 10/01/2025
Brookfield WEC Holdings Inc, Refinancing No 2 Term Loan, 08/01/2025
Boxer Parent Co Inc, 2021 Replacement Dollar Term Loan, 10/02/2025
Viant Medical Holdings Inc, Initial Term Loan (First Lien), 07/02/2025

Holdings are subject to change.

Industry Allocation (% Fund)

(as of 09/30/2021)
Healthcare 14.91%
Service 10.16%
Information Technology 9.36%
Gaming/Leisure 6.93%
Manufacturing 6.22%
Forest Prod/Containers 5.26%
Chemicals 4.78%
Food/Tobacco 4.52%
Financial 4.44%
Aerospace 4.29%
Retail 3.29%
Media/Telecom - Telecommunications 3.25%
Media/Telecom - Broadcasting 3.24%
Housing 3.01%
Media/Telecom - Cable/Wireless Video 2.68%
Transportation - Automotive 2.63%
Consumer Non-Durables 2.54%
Media/Telecom - Diversified Media 2.10%
Utility 2.03%
Energy 1.73%
Consumer Durables 1.45%
Cash 0.73%
Metals/Minerals 0.47%

Performance & Risk

Growth of $10,000 Investment

From to
This chart assumes an initial investment of $10,000 made on for Class ddd shares including any applicable sales charges. Performance assumes reinvestment of dividends and capital gain distributions.


As of
As of

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.

Sales Charge and Expenses

Yields / Distributions1

(as of )
30-day SEC Yield
30-day SEC Yield (unsubsidized)
Distribution Rate (at NAV)
Income Distributions Current Month
Income Distributions YTD

Distribution History2

(as of )
Reinvest NAV

Risk Statistics3

(as of )
Fund Index
Std Dev

Risk Considerations

Credit & Interest: Debt instruments are subject to various risks, including credit and interest rate risk. The issuer of a debt security may fail to make interest and/or principal payments. Values of debt instruments may rise or fall in response to changes in interest rates, and this risk may be enhanced with longer-term maturities.
Bank Loans: Loans may be unsecured or not fully collateralized, may be subject to restrictions on resale and/or trade infrequently on the secondary market. Loans are subject to credit and call risk, may be difficult to value, and have longer settlement times than other investments, which can make loans relatively illiquid at times.
High Yield Fixed Income Securities: There is a greater risk of issuer default, less liquidity, and increased price volatility related to high yield securities than investment grade securities.
Liquidity: Certain securities may be difficult to sell at a time and price beneficial to the portfolio.
Leverage: When a portfolio is leveraged, the value of its securities may be more volatile and all other risks may be compounded.
Market Volatility: Local, regional, or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the portfolio and its investments, including hampering the ability of the portfolio manager(s) to invest the portfolio's assets as intended.
Prospectus: For additional information on risks, please see the fund's prospectus.

Related Literature

Marketing Materials

Virtus Newfleet Senior Floating Rate Fund Fact Sheet - I
Virtus Newfleet Senior Floating Rate Fund Fact Sheet - R6
Newfleet Monthly Sector Review
Virtus Newfleet Senior Floating Rate Fund Commentary
Newfleet Capabilities Brochure
Newfleet Market Review & Outlook
Newfleet 2021 Fixed Income Market Outlook
Newfleet 2021 Bank Loan Market Outlook


Mutual Fund Distributions

Financial Materials

Virtus Opportunities Trust Statutory Prospectus
Virtus Newfleet Senior Floating Rate Summary Prospectus
Virtus Opportunities Trust SAI
Virtus Opportunities Trust Annual Report
Virtus Opportunities Trust Semiannual Report
Virtus Opportunities Trust Prospectus XBRL 485B 02 01 2021


Virtus Newfleet Senior Floating Rate Quarterly Holdings
Virtus Newfleet Senior Floating Rate Fund Top Holdings
Virtus Newfleet Senior Floating Rate Fund Holdings Fiscal Q1
Virtus Newfleet Senior Floating Rate Fund Holdings Fiscal Q3

Investors should carefully consider the investment objectives, risks, charges and expenses of any Virtus Mutual Fund before investing. The prospectus and summary prospectus contains this and other information about the fund. Please contact your financial representative, call 1-800-243-4361 to obtain a current prospectus and/or summary prospectus. You should read the prospectus and/or summary prospectus carefully before you invest or send money.

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.

Average annual total return is the annual compound return for the indicated period. It reflects the change in share price and the reinvestment of all dividends and capital gains. NAV returns do not include the effect of any applicable sales charges. POP and w/CDSC returns include the effect of maximum applicable sales charges.

Returns for periods of less than one year are cumulative total returns.

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 calculated by (a) annualizing the latest income distribution for fixed income funds or funds less than 1 year old, or (b) summing all income distributions over the preceding 12 months for all other funds, and dividing the NAV on the last business date of the period, unless otherwise indicated. The Distribution Rate may be comprised of ordinary income, net realized capital gains and returns of capital.

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

3 Risk Statistics: R2 is a statistical measure that represents the percentage of a fund or security's movements that can be explained by movements in a benchmark index. Beta is a quantitative measure of the volatility of a given portfolio to the overall market. Alpha is a risk adjusted measure of an investment's excess return relative to a benchmark. A positive Alpha indicates that the investment produced a return greater than expected for the risk (as measured by Beta) taken. Standard Deviation measures variability of returns around the average return for an investment fund. Higher standard deviation suggests greater risk. Risk Statistics are calculated using 36 monthly returns.

4 Characteristics: For Equity Funds: Avg. Weighted Market Cap (bn): The total dollar market value of all of a company’s outstanding shares. Trailing P/E Ex-Negative Earnings: Per-share stock price divided by the latest 12-months Earnings per Share; Price/Cash Flow: Per-share stock price divided by the per-share operating cash flow; Price/Book: Per-share stock price divided by the latest 12-month per-share Book Value; 3-Year EPS Growth Rate: Average of earnings per share growth for latest 3-year period. The 3-Year EPS Growth Rate is not a forecast of the fund's performance.

4 Characteristics: For Fixed Income Funds: Effective Duration represents the interest rate sensitivity of a fixed income fund. For example, if a fund's effective duration is five years, a 1% increase in interest rates would result in a 5% decline in the fund's price. Similarly, a 1% decline in interest rates would result in a 5% gain in the fund's price.

Morningstar Disclosures:
The Morningstar Rating for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads.

© Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.