Category Archives for "High Yield Funds"
Fidelity‘s European High Yield A-Dis-Eur €2.7bn fund is the pick of the bunch as the group has managed to eke out some excellent performance for this sizeable fund. The Luxembourg-based Candriam €2.7bn runs them close amongst the big funds, while the HSBC GIF Euro high yield Bond AD fund also comes in with a solid, controlled return.
Performance of the largest HY Euro corporate bond funds, ordered by assets under management.
# | Fund / ISIN | Size (€mm) | 3mth/ αlpha | 1yr*/ αlpha | 3yr*/ αlpha | 5yr*/ αlpha | Morningstar Rating |
---|---|---|---|---|---|---|---|
1 | Nordea 1 - European High Yld Bd BI EUR LU0141799097 | 4954 | 13.51 1.36 | 5.02 1.47 | 4.60 1.39 | 4.91 1.64 | ★★★★★ |
2 | Candriam Bds Euro High Yld C EUR Cap LU0012119607 | 2712 | 15.53 3.38 | 6.31 2.75 | 3.82 0.61 | 4.40 1.12 | ★★★★ |
3 | Fidelity European Hi Yld A-Dis-EUR LU0110060430 | 2703 | 16.09 3.95 | 6.65 3.10 | 3.53 0.32 | 3.01 -0.27 | ★★★★ |
4 | AXAIMFIIS Europe Short Dur HY A Cap EUR LU0658025209 | 2414 | 6.92 -5.23 | 1.72 -1.83 | 1.61 -1.60 | 2.31 -0.96 | ★★ |
5 | DWS Invest Euro High Yield Corp LD LU0616839766 | 2186 | 12.12 -0.03 | 3.26 -0.29 | 3.57 0.36 | 4.57 1.30 | ★★★★★ |
6 | UBS (Lux) BF Euro Hi Yld € P-acc LU0086177085 | 2063 | 15.42 3.28 | 4.45 0.90 | 3.81 0.60 | 3.39 0.11 | ★★★★ |
7 | Pictet-EUR Short Term High Yield I EUR LU0726357444 | 1948 | 5.72 -6.42 | 1.86 -1.70 | 1.45 -1.76 | 1.74 -1.53 | ★★ |
8 | HSBC GIF Euro High Yield Bond AD LU0165128421 | 1902 | 16.10 3.96 | 6.00 2.45 | 3.25 0.04 | 3.69 0.42 | ★★★ |
9 | ODDO BHF Euro Credit Short Dur DP-EUR LU0628638388 | 1662 | 4.45 -7.69 | 1.25 -2.30 | 1.08 -2.13 | 1.55 -1.73 | ★★ |
10 | Schroder ISF EURO Hi Yld C Acc EUR LU0849400030 | 1468 | 8.40 -3.74 | 2.19 -1.36 | 3.59 0.38 | 4.52 1.24 | ★★★★★ |
11 | Muzinich Europeyield HEUR Acc A IE0005315449 | 1033 | 14.71 2.56 | 4.51 0.96 | 3.92 0.71 | 4.42 1.14 | ★★★★ |
12 | Evli European High Yield A FI0008803911 | 934 | 9.21 -2.94 | 2.54 -1.01 | 3.59 0.38 | 3.88 0.60 | ★★★★ |
13 | MS INVF European HY Bd I LU0073255688 | 898 | 16.14 3.99 | 4.62 1.07 | 3.81 0.60 | 3.95 0.68 | ★★★★ |
14 | AS SICAV I SelEuro HYBd A Acc EUR LU0119176310 | 832 | 9.88 -2.26 | 1.50 -2.05 | 2.43 -0.78 | 3.33 0.06 | ★★★★ |
15 | Danske Invest Euro HY Obl Akk KL DKK h DK0060497378 | 762 | 17.12 4.97 | 3.00 -0.55 | 3.76 0.55 | 3.28 0.01 | ★★★ |
16 | Amundi Fds Optimal Yield E2 EUR C LU1883337377 | 762 | 13.24 1.09 | 4.00 0.45 | 2.70 -0.51 | 2.82 -0.46 | ★★★★ |
17 | Amundi Fds Euro HY Bd I EUR C LU0119109980 | 750 | 17.71 5.56 | 5.92 2.37 | 3.81 0.60 | 3.66 0.39 | ★★★★ |
18 | Pictet-EUR High Yield I LU0133806785 | 712 | 17.49 5.34 | 6.07 2.52 | 4.13 0.92 | 3.38 0.11 | ★★★★ |
19 | Pramerica Sicav Euro High Yield I LU1589372041 | 681 | 14.53 2.38 | 3.82 0.27 | 0.00 0.00 | 0.00 0.00 | |
20 | JPM Europe High Yld Bd A (dist) EUR LU0091079839 | 648 | 16.52 4.37 | 4.52 0.97 | 3.16 -0.05 | 3.79 0.52 | ★★★★ |
Top performing HY Euro corporate bond funds, ranked by rolling 1 year performance.
Rank | Fund / ISIN | Size (€mm) | 3mth/ αlpha | 1yr*/ αlpha | 3yr*/ αlpha | 5yr*/ αlpha | Morningstar Rating |
---|---|---|---|---|---|---|---|
1 | DPAM L Bonds Higher Yield B LU0138645519 | 174 | 25.28 13.13 | 8.37 4.82 | 4.04 0.83 | 4.63 1.35 | ★★★★ |
2 | Kempen (Lux) Euro High Yield LR Acc LU1626446964 | 22 | 18.56 6.41 | 8.01 4.46 | 0.00 0.00 | 0.00 0.00 | |
3 | DPAM L Bonds EUR Corporate High Yield A LU0966248915 | 320 | 19.68 7.53 | 7.01 3.45 | 4.60 1.39 | 5.70 2.43 | ★★★★★ |
4 | Switzerland Inv - Fixed Inc H/Y HAIG B LU0382169703 | 57 | 0.23 -11.92 | 6.92 3.37 | 8.18 4.97 | 3.63 0.36 | ★★★ |
5 | Fidelity European Hi Yld A-Dis-EUR LU0110060430 | 2703 | 16.09 3.95 | 6.65 3.10 | 3.53 0.32 | 3.01 -0.27 | ★★★★ |
6 | Fidelity Instl European Hi Yld I-Acc-EUR LU0528224321 | 32 | 14.75 2.60 | 6.46 2.91 | 4.15 0.94 | 4.22 0.95 | ★★★★ |
7 | Candriam Bds Euro High Yld C EUR Cap LU0012119607 | 2712 | 15.53 3.38 | 6.31 2.75 | 3.82 0.61 | 4.40 1.12 | ★★★★ |
8 | M&G European HY Crdt Invm A EUR Acc LU0895903457 | 90 | 15.96 3.81 | 6.29 2.74 | 4.29 1.08 | 4.35 1.07 | ★★★★ |
9 | Neuberger Berman Eurp HY Bd EUR I Acc IE00BNH72V92 | 32 | 15.24 3.10 | 6.29 2.74 | 4.06 0.85 | 4.29 1.02 | ★★★★ |
10 | Regard Haut Rendement H FR0011089812 | 87 | 15.84 3.69 | 6.27 2.72 | 3.85 0.64 | 4.04 0.77 | ★★★★ |
11 | CNP-Assur-Euro-HY A/I FR0000443772 | 75 | 16.43 4.28 | 6.23 2.68 | 4.91 1.70 | 4.44 1.16 | ★★★★ |
12 | Amundi Rspnb Investing Eurp HY SRI IC FR0013340932 | 81 | 17.05 4.90 | 6.15 2.60 | 0.00 0.00 | 0.00 0.00 | |
13 | Oaktree (Lux) Fds - Eur Hi Yld Bd IB LU0931246770 | 66 | 15.96 3.82 | 6.11 2.56 | 3.96 0.75 | 4.04 0.76 | ★★★★ |
14 | Aegon European High Yield Bond I EUR Acc IE00BZ005G52 | 210 | 17.03 4.88 | 6.09 2.54 | 0.00 0.00 | 0.00 0.00 | |
15 | Pictet-EUR High Yield I LU0133806785 | 712 | 17.49 5.34 | 6.07 2.52 | 4.13 0.92 | 3.38 0.11 | ★★★★ |
16 | BGF European High Yield Bond D2 EUR LU1191877965 | 71 | 15.41 3.27 | 6.04 2.49 | 4.88 1.67 | 0.00 0.00 | ★★★★★ |
17 | HSBC GIF Euro High Yield Bond AD LU0165128421 | 1902 | 16.10 3.96 | 6.00 2.45 | 3.25 0.04 | 3.69 0.42 | ★★★ |
18 | Janus Henderson Hrzn Euro HY Bd I2 EUR LU0828818087 | 393 | 13.36 1.21 | 5.95 2.40 | 4.70 1.49 | 5.02 1.74 | ★★★★★ |
19 | Amundi Fds Euro HY Bd I EUR C LU0119109980 | 750 | 17.71 5.56 | 5.92 2.37 | 3.81 0.60 | 3.66 0.39 | ★★★★ |
20 | PGIM European BB-B HY Bd EUR I Acc IE00BD1DGT97 | 25 | 14.41 2.26 | 5.85 2.30 | 3.96 0.75 | 0.00 0.00 |
Table information: European domiciled funds in Morningstar Category EUR High Yield Bond, Oldest share class, All figures EUR (€), Total returns annualised, as at last month-end. Alpha is the measure of an investment’s return in excess of the Morningstar Category average.
Fund sizes are as reported by the management groups and the latest available to Morningstar. The Morningstar Rating is calculated based on a fund’s total returns, adjusted for risk and sales charges, relative to other funds in its Morningstar Category, based on a weighted average of a fund’s 3-, 5-, and ten-year ratings, depending on the length of its record.
Data source: © 2019 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. Important note regarding third party indices: Morningstar does not own any third party index data (S&P, FTSE, MSCI), so cannot authorise its use. The journalists should contact each vendor directly to get authorisation for the data they require.
The corporate bond market endured its most torrid period since the crisis began. It delivered the worst performance since 2008 in total return terms, with the level of spread weakness not far behind. As measured by the Markit iBoxx index, IG widened by 76bp, high yield by almost 240bp and, for example, the AT1 index by 342bp. No sector was spared, and the weakness accelerated through the final quarter on heightened macro and geopolitical concerns. That is most likely going to continue and be a theme for 2019, but we can expect the weakness to be much more limited as the various events play out.
Full spreads charts/analysis: IG | HY | Senior & Sub Financials | Corporate Hybrids | GBP Corporates | CoCos
As suggested above, credit total returns were the worst since the crisis began. IG lost 1.2% and the high yield market delivered a -3.6% total return. In relative terms, other markets lost more. The Dax delivered -18.2%, the FTSE -12.5% and the S&P recovered late on to -6.2%. There was a positive result, that came courtesy of the Eurozone’s government bond market, where demand for safe-haven risk saw a +0.9% result.
Returns in 2018
Primary market activity was affected by the broad volatility and weakness in most asset classes. The window to get a deal away was open all too infrequently, the hesitation by borrowers and push beckon pricing by investors leaving us with the lowest level of issuance in the IG non-financial sector since 2012, at just €221bn – against an average of €260bn per year in the 2014-2017 period. It will be a good result if we get close to the €220bn level in 2019. US borrowers were prevalent, but the 12% share of the overall market was the lowest since 2012 as well.
Senior financial deal flow was the lowest annual total since the beginning of the euro currency era. Just €130bn was printed versus the previous low of €136bn (in 2017). Given the weakening macro environment and continued high levels of volatility, we’re suggesting issuance declines again in 2019, to around €110bn.
HY Issuance: 2003 – 2019
High yield markets had a good year. In fact, it was the second-best year ever for deals in the HY capital markets, with some €62bn transacted. Most of that was issued in the first nine months of the year though, with wider concerns leaving the window shut for others through the final quarter. Spreads gapped, the index yield is up at 5% (both almost doubling) and we think issuance will decline in 2019 to around the €45bn level.
A particularly poor final quarter saw to it that corporate bond funds recorded a negative performance for the full year, pretty much across the board. Poor secondary market liquidity was a particular feature as well as frustration. That’s the nature of the beast. While we also had to contend with new issues launched with higher premiums than we might be used to, and whole sectors repriced as a result. The IG index lost around 1.2%, but most reasonably sized funds lost in excess of 2%.
In sterling, it was a similar picture, with the index off by just over 2%, but reasonably-sized funds (in excess of £1.5bn AUM) lost 3% or more.
>>See the full IG Euro Performance tables<<
>>See the full HY Euro Performance tables<<
>>See the full Sterling IG & Sterling HY Performance tables<<
Overall, we endured a torrid time of it in 2018. Others did worse, but it’s scant consolation. Given the severity of the equity markets’ volatility, it was always going to have a contagion impact on the corporate bond market. The corporate bond market held up quite well until the final quarter, where it then came under some greater levels of pressure and performance deteriorated more rapidly.
As we head into 2019, we should exercise caution, be wary of buying any dips and not chase any rallies. The macro environment is extremely challenging and geopolitical stresses remain elevated. The picture ought to become clearer over the next few weeks. Good luck.
All figures are to month-end Aug 2019
Jump to: Top Performing HY € Funds
Performance of the largest HY Euro corporate bond funds, ordered by assets under management.
# | Fund / ISIN | Size (€mm) | 3mth/ αlpha | 1yr*/ αlpha | 3yr*/ αlpha | 5yr*/ αlpha | Morningstar Rating |
---|---|---|---|---|---|---|---|
1 | Nordea 1 - European High Yld Bd BI EUR LU0141799097 | 4954 | 13.51 1.36 | 5.02 1.47 | 4.60 1.39 | 4.91 1.64 | ★★★★★ |
2 | Candriam Bds Euro High Yld C EUR Cap LU0012119607 | 2712 | 15.53 3.38 | 6.31 2.75 | 3.82 0.61 | 4.40 1.12 | ★★★★ |
3 | Fidelity European Hi Yld A-Dis-EUR LU0110060430 | 2703 | 16.09 3.95 | 6.65 3.10 | 3.53 0.32 | 3.01 -0.27 | ★★★★ |
4 | AXAIMFIIS Europe Short Dur HY A Cap EUR LU0658025209 | 2414 | 6.92 -5.23 | 1.72 -1.83 | 1.61 -1.60 | 2.31 -0.96 | ★★ |
5 | DWS Invest Euro High Yield Corp LD LU0616839766 | 2186 | 12.12 -0.03 | 3.26 -0.29 | 3.57 0.36 | 4.57 1.30 | ★★★★★ |
6 | UBS (Lux) BF Euro Hi Yld € P-acc LU0086177085 | 2063 | 15.42 3.28 | 4.45 0.90 | 3.81 0.60 | 3.39 0.11 | ★★★★ |
7 | Pictet-EUR Short Term High Yield I EUR LU0726357444 | 1948 | 5.72 -6.42 | 1.86 -1.70 | 1.45 -1.76 | 1.74 -1.53 | ★★ |
8 | HSBC GIF Euro High Yield Bond AD LU0165128421 | 1902 | 16.10 3.96 | 6.00 2.45 | 3.25 0.04 | 3.69 0.42 | ★★★ |
9 | ODDO BHF Euro Credit Short Dur DP-EUR LU0628638388 | 1662 | 4.45 -7.69 | 1.25 -2.30 | 1.08 -2.13 | 1.55 -1.73 | ★★ |
10 | Schroder ISF EURO Hi Yld C Acc EUR LU0849400030 | 1468 | 8.40 -3.74 | 2.19 -1.36 | 3.59 0.38 | 4.52 1.24 | ★★★★★ |
11 | Muzinich Europeyield HEUR Acc A IE0005315449 | 1033 | 14.71 2.56 | 4.51 0.96 | 3.92 0.71 | 4.42 1.14 | ★★★★ |
12 | Evli European High Yield A FI0008803911 | 934 | 9.21 -2.94 | 2.54 -1.01 | 3.59 0.38 | 3.88 0.60 | ★★★★ |
13 | MS INVF European HY Bd I LU0073255688 | 898 | 16.14 3.99 | 4.62 1.07 | 3.81 0.60 | 3.95 0.68 | ★★★★ |
14 | AS SICAV I SelEuro HYBd A Acc EUR LU0119176310 | 832 | 9.88 -2.26 | 1.50 -2.05 | 2.43 -0.78 | 3.33 0.06 | ★★★★ |
15 | Danske Invest Euro HY Obl Akk KL DKK h DK0060497378 | 762 | 17.12 4.97 | 3.00 -0.55 | 3.76 0.55 | 3.28 0.01 | ★★★ |
16 | Amundi Fds Optimal Yield E2 EUR C LU1883337377 | 762 | 13.24 1.09 | 4.00 0.45 | 2.70 -0.51 | 2.82 -0.46 | ★★★★ |
17 | Amundi Fds Euro HY Bd I EUR C LU0119109980 | 750 | 17.71 5.56 | 5.92 2.37 | 3.81 0.60 | 3.66 0.39 | ★★★★ |
18 | Pictet-EUR High Yield I LU0133806785 | 712 | 17.49 5.34 | 6.07 2.52 | 4.13 0.92 | 3.38 0.11 | ★★★★ |
19 | Pramerica Sicav Euro High Yield I LU1589372041 | 681 | 14.53 2.38 | 3.82 0.27 | 0.00 0.00 | 0.00 0.00 | |
20 | JPM Europe High Yld Bd A (dist) EUR LU0091079839 | 648 | 16.52 4.37 | 4.52 0.97 | 3.16 -0.05 | 3.79 0.52 | ★★★★ |
Top performing HY Euro corporate bond funds, ranked by rolling 1 year performance.
Rank | Fund / ISIN | Size (€mm) | 3mth/ αlpha | 1yr*/ αlpha | 3yr*/ αlpha | 5yr*/ αlpha | Morningstar Rating |
---|---|---|---|---|---|---|---|
1 | DPAM L Bonds Higher Yield B LU0138645519 | 174 | 25.28 13.13 | 8.37 4.82 | 4.04 0.83 | 4.63 1.35 | ★★★★ |
2 | Kempen (Lux) Euro High Yield LR Acc LU1626446964 | 22 | 18.56 6.41 | 8.01 4.46 | 0.00 0.00 | 0.00 0.00 | |
3 | DPAM L Bonds EUR Corporate High Yield A LU0966248915 | 320 | 19.68 7.53 | 7.01 3.45 | 4.60 1.39 | 5.70 2.43 | ★★★★★ |
4 | Switzerland Inv - Fixed Inc H/Y HAIG B LU0382169703 | 57 | 0.23 -11.92 | 6.92 3.37 | 8.18 4.97 | 3.63 0.36 | ★★★ |
5 | Fidelity European Hi Yld A-Dis-EUR LU0110060430 | 2703 | 16.09 3.95 | 6.65 3.10 | 3.53 0.32 | 3.01 -0.27 | ★★★★ |
6 | Fidelity Instl European Hi Yld I-Acc-EUR LU0528224321 | 32 | 14.75 2.60 | 6.46 2.91 | 4.15 0.94 | 4.22 0.95 | ★★★★ |
7 | Candriam Bds Euro High Yld C EUR Cap LU0012119607 | 2712 | 15.53 3.38 | 6.31 2.75 | 3.82 0.61 | 4.40 1.12 | ★★★★ |
8 | M&G European HY Crdt Invm A EUR Acc LU0895903457 | 90 | 15.96 3.81 | 6.29 2.74 | 4.29 1.08 | 4.35 1.07 | ★★★★ |
9 | Neuberger Berman Eurp HY Bd EUR I Acc IE00BNH72V92 | 32 | 15.24 3.10 | 6.29 2.74 | 4.06 0.85 | 4.29 1.02 | ★★★★ |
10 | Regard Haut Rendement H FR0011089812 | 87 | 15.84 3.69 | 6.27 2.72 | 3.85 0.64 | 4.04 0.77 | ★★★★ |
11 | CNP-Assur-Euro-HY A/I FR0000443772 | 75 | 16.43 4.28 | 6.23 2.68 | 4.91 1.70 | 4.44 1.16 | ★★★★ |
12 | Amundi Rspnb Investing Eurp HY SRI IC FR0013340932 | 81 | 17.05 4.90 | 6.15 2.60 | 0.00 0.00 | 0.00 0.00 | |
13 | Oaktree (Lux) Fds - Eur Hi Yld Bd IB LU0931246770 | 66 | 15.96 3.82 | 6.11 2.56 | 3.96 0.75 | 4.04 0.76 | ★★★★ |
14 | Aegon European High Yield Bond I EUR Acc IE00BZ005G52 | 210 | 17.03 4.88 | 6.09 2.54 | 0.00 0.00 | 0.00 0.00 | |
15 | Pictet-EUR High Yield I LU0133806785 | 712 | 17.49 5.34 | 6.07 2.52 | 4.13 0.92 | 3.38 0.11 | ★★★★ |
16 | BGF European High Yield Bond D2 EUR LU1191877965 | 71 | 15.41 3.27 | 6.04 2.49 | 4.88 1.67 | 0.00 0.00 | ★★★★★ |
17 | HSBC GIF Euro High Yield Bond AD LU0165128421 | 1902 | 16.10 3.96 | 6.00 2.45 | 3.25 0.04 | 3.69 0.42 | ★★★ |
18 | Janus Henderson Hrzn Euro HY Bd I2 EUR LU0828818087 | 393 | 13.36 1.21 | 5.95 2.40 | 4.70 1.49 | 5.02 1.74 | ★★★★★ |
19 | Amundi Fds Euro HY Bd I EUR C LU0119109980 | 750 | 17.71 5.56 | 5.92 2.37 | 3.81 0.60 | 3.66 0.39 | ★★★★ |
20 | PGIM European BB-B HY Bd EUR I Acc IE00BD1DGT97 | 25 | 14.41 2.26 | 5.85 2.30 | 3.96 0.75 | 0.00 0.00 |
Table information: European domiciled funds in Morningstar Category EUR High Yield Bond, Oldest share class, All figures EUR (€), Total returns annualised, as at last month-end. Alpha is the measure of an investment’s return in excess of the Morningstar Category average.
Fund sizes are as reported by the management groups and the latest available to Morningstar. The Morningstar Rating is calculated based on a fund’s total returns, adjusted for risk and sales charges, relative to other funds in its Morningstar Category, based on a weighted average of a fund’s 3-, 5-, and ten-year ratings, depending on the length of its record.
Data source: © 2019 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. Important note regarding third party indices: Morningstar does not own any third party index data (S&P, FTSE, MSCI), so cannot authorise its use. The journalists should contact each vendor directly to get authorisation for the data they require.
All figures are to month-end Aug 2019
Jump to: Top Performing HY £ Funds
Performance of the largest HY Sterling corporate bond funds ordered by assets under management (AUM).
# | Fund / ISIN | Size (£mm) | 3mth/ αlpha | 1yr*/ αlpha | 3yr*/ αlpha | 5yr*/ αlpha | Morningstar Rating |
---|---|---|---|---|---|---|---|
1 | L&G High Income I Acc GB00B0CNHJ41 | 1352 | 9.05 -3.57 | 2.49 -1.71 | 4.30 0.33 | 3.48 -0.41 | ★★★ |
2 | Threadneedle HY Bd Ins Inc GBP GB0008371121 | 813 | 16.43 3.80 | 6.39 2.19 | 4.74 0.77 | 4.34 0.45 | ★★★★ |
3 | Baillie Gifford High Yield Bond B Inc GB0030816713 | 701 | 14.65 2.03 | 6.77 2.57 | 5.52 1.55 | 4.41 0.52 | ★★★★★ |
4 | Schroder High Yield Opportunities Acc GB0009505693 | 569 | 2.99 -9.63 | -0.22 -4.42 | 3.37 -0.59 | 4.35 0.46 | ★★★ |
5 | ASI High Yield Bd Ins Acc £ UnH GB0000936244 | 432 | 13.73 1.10 | 4.65 0.45 | 4.19 0.22 | 4.04 0.16 | ★★★ |
6 | BNY Mellon Global High Yield Bd GBP Inc GB0009633073 | 158 | 15.72 3.10 | 7.17 2.97 | 3.96 -0.01 | 2.99 -0.90 | ★★★ |
7 | Invesco High Yield UK Inc GB0033049254 | 158 | 11.01 -1.62 | 2.75 -1.45 | 4.37 0.40 | 3.14 -0.75 | ★★★ |
8 | Scottish Widows High Income Bd Acc GB0031643900 | 118 | 11.17 -1.46 | 3.22 -0.98 | 2.68 -1.29 | 1.03 -2.85 | ★★ |
9 | Aviva Investors High Yield Bd 3 GBP Acc GB00B3CGJN23 | 099 | 17.00 4.38 | 5.33 1.13 | 3.11 -0.85 | 4.13 0.24 | ★★★ |
10 | Marlborough High Yield Fixed Int A Inc GB00B03TN153 | 074 | 12.93 0.31 | 2.72 -1.48 | 3.75 -0.22 | 3.68 -0.21 | ★★★★ |
11 | Quilter Investors Bond 3 A (GBP) Inc GB00B05K6392 | 059 | 10.93 -1.70 | 3.09 -1.11 | 2.68 -1.29 | 0.61 -3.28 | ★ |
12 | ASI Eurpan High Yield Bd A Acc GB00B5968F40 | 054 | 13.85 1.22 | 2.52 -1.68 | 3.18 -0.78 | 3.52 -0.37 | ★★★ |
13 | Quilter Investors Hi Yld Bd A GBP Inc GB00B8SZLY38 | 052 | 17.19 4.56 | 7.09 2.89 | 4.43 0.47 | 4.29 0.40 | ★★★★ |
14 | BMO Multi-Sector Higher Income Bd 1 Inc GB0002053006 | 031 | 14.59 1.96 | 6.14 1.94 | 3.77 -0.19 | 3.36 -0.53 | ★★★ |
15 | Man GLG High Yield Opports Profl Acc C GB00BJK3W057 | 000 | 0.00 0.00 | 0.00 0.00 | 0.00 0.00 | 0.00 0.00 | |
16 | Marlborough High Yield Fixed Intr C EUR GG00BWX5H825 | 000 | 12.64 0.01 | 2.01 -2.19 | 2.83 -1.13 | 0.00 0.00 | ★★ |
17 | Marlborough HY Fixed Intr Guernsey Fdr GG00BCF5NP92 | 11.41 -1.21 | 1.39 -2.81 | 2.66 -1.31 | 2.43 -1.46 | ★★ | |
18 | NatWest High Yield NAV GB0033617373 | 0.00 0.00 | 0.00 0.00 | 0.00 0.00 | 0.00 0.00 | ||
19 | St James's International Corp Bd Acc GB00B62VYF56 | 13.24 0.62 | 5.31 1.11 | 2.74 -1.23 | 2.87 -1.02 | ★★ |
Top performing HY Sterling corporate bond funds ranked by rolling 1 year performance.
Rank | Fund / ISIN | Size (£mm) | 3mth/ αlpha | 1yr*/ αlpha | 3yr*/ αlpha | 5yr*/ αlpha | Morningstar Rating |
---|---|---|---|---|---|---|---|
1 | BNY Mellon Global High Yield Bd GBP Inc GB0009633073 | 158 | 15.72 3.10 | 7.17 2.97 | 3.96 -0.01 | 2.99 -0.90 | ★★★ |
2 | Quilter Investors Hi Yld Bd A GBP Inc GB00B8SZLY38 | 052 | 17.19 4.56 | 7.09 2.89 | 4.43 0.47 | 4.29 0.40 | ★★★★ |
3 | Baillie Gifford High Yield Bond B Inc GB0030816713 | 701 | 14.65 2.03 | 6.77 2.57 | 5.52 1.55 | 4.41 0.52 | ★★★★★ |
4 | Threadneedle HY Bd Ins Inc GBP GB0008371121 | 813 | 16.43 3.80 | 6.39 2.19 | 4.74 0.77 | 4.34 0.45 | ★★★★ |
5 | BMO Multi-Sector Higher Income Bd 1 Inc GB0002053006 | 031 | 14.59 1.96 | 6.14 1.94 | 3.77 -0.19 | 3.36 -0.53 | ★★★ |
6 | Aviva Investors High Yield Bd 3 GBP Acc GB00B3CGJN23 | 099 | 17.00 4.38 | 5.33 1.13 | 3.11 -0.85 | 4.13 0.24 | ★★★ |
7 | St James's International Corp Bd Acc GB00B62VYF56 | 000 | 13.24 0.62 | 5.31 1.11 | 2.74 -1.23 | 2.87 -1.02 | ★★ |
8 | ASI High Yield Bd Ins Acc £ UnH GB0000936244 | 432 | 13.73 1.10 | 4.65 0.45 | 4.19 0.22 | 4.04 0.16 | ★★★ |
9 | Scottish Widows High Income Bd Acc GB0031643900 | 118 | 11.17 -1.46 | 3.22 -0.98 | 2.68 -1.29 | 1.03 -2.85 | ★★ |
10 | Quilter Investors Bond 3 A (GBP) Inc GB00B05K6392 | 059 | 10.93 -1.70 | 3.09 -1.11 | 2.68 -1.29 | 0.61 -3.28 | ★ |
11 | Invesco High Yield UK Inc GB0033049254 | 158 | 11.01 -1.62 | 2.75 -1.45 | 4.37 0.40 | 3.14 -0.75 | ★★★ |
12 | Marlborough High Yield Fixed Int A Inc GB00B03TN153 | 074 | 12.93 0.31 | 2.72 -1.48 | 3.75 -0.22 | 3.68 -0.21 | ★★★★ |
13 | ASI Eurpan High Yield Bd A Acc GB00B5968F40 | 054 | 13.85 1.22 | 2.52 -1.68 | 3.18 -0.78 | 3.52 -0.37 | ★★★ |
14 | L&G High Income I Acc GB00B0CNHJ41 | 1352 | 9.05 -3.57 | 2.49 -1.71 | 4.30 0.33 | 3.48 -0.41 | ★★★ |
15 | Marlborough High Yield Fixed Intr C EUR GG00BWX5H825 | 000 | 12.64 0.01 | 2.01 -2.19 | 2.83 -1.13 | 0.00 0.00 | ★★ |
16 | Marlborough HY Fixed Intr Guernsey Fdr GG00BCF5NP92 | 000 | 11.41 -1.21 | 1.39 -2.81 | 2.66 -1.31 | 2.43 -1.46 | ★★ |
17 | Schroder High Yield Opportunities Acc GB0009505693 | 2.99 -9.63 | -0.22 -4.42 | 3.37 -0.59 | 4.35 0.46 | ★★★ | |
18 | Man GLG High Yield Opports Profl Acc C GB00BJK3W057 | 0.00 0.00 | 0.00 0.00 | 0.00 0.00 | 0.00 0.00 | ||
19 | NatWest High Yield NAV GB0033617373 | 0.00 0.00 | 0.00 0.00 | 0.00 0.00 | 0.00 0.00 |
Table information: European domiciled funds in Morningstar Category GBP High Yield Bond, Oldest share class, All figures GBP sterling (£), Total returns annualised, as at last month-end. Alpha is the measure of an investment’s return in excess of the Morningstar Category average.
Fund sizes are as reported by the management groups and the latest available to Morningstar. The Morningstar Rating is calculated based on a fund’s total returns, adjusted for risk and sales charges, relative to other funds in its Morningstar Category, based on a weighted average of a fund’s 3-, 5-, and ten-year ratings, depending on the length of its record.
Data source: © 2019 Morningstar, Inc. All rights reserved.
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