Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and 4.00% and 3.25% for income funds (2.25% for class A of Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, N, R, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam AMT-Free Municipal Fund, which are based on the historical performance of class B shares). Performance for class A, C, and Y shares of Putnam Mortgage Opportunities Fund before their inception is derived from the historical performance of class I shares, which have been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. Returns at public offering price (after sales charge) for class N shares reflect the current maximum initial sales charge of 1.50%. Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Active Income
Convertible Securities Fund (Class A) (PCONX)
Offering investors the diverse benefits of convertible securities since 1972
Highlights
Objective
The fund seeks, with equal emphasis, current income and capital appreciation. Its secondary objective is conservation of capital.
Strategy and process
- Balanced profile: The fund seeks to achieve an equilibrium balancing much of the upside potential of equities, the lower downside risk of bonds, and an attractive current yield.
- Effective diversification: The fund can provide effective diversification for investor portfolios; convertible securities are not highly correlated with stocks and correlation is near zero versus aggregate bond strategies.
- Joint venture: Uniquely combining both dedicated fixed income and equity expertise to enhance the ability to fully exploit these hybrid securities.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$21.37
0.52% | $0.11 |
$26.83
02/19/20 |
$20.15
03/23/20 |
Fund facts as of 03/31/20
$643.32M
60%
Quarterly
111
October
746476100 / 0007
06/29/72
Taxable Income
PCONX
Literature
Fund documents |
| Prospectuses/SAI |
| Holding the middle ground with convertible securities (PDF) |
| Fact Sheet (R6 share) (PDF) |
| Fact Sheet (Y share) (PDF) |
| Annual Fund Report (PDF) |
| Semiannual Fund Report (PDF) |
| Quarterly commentary (PDF) |
Performance
Consistency of positive performance over five years
Performance shown above does not reflect the effects of any sales charges. Click on the dots to see specific returns in each five-year period as of the date revealed. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please see below.
23.04%
Best 5-year annualized return
(for period ending 03/31/83)
-3.55%
Worst 5-year annualized return
(for period ending 12/31/08)
10.31%
Average 5-year annualized return
Total return (%) as of 03/31/20
Annual performance as of 03/31/20
Annualized Total return (%) as of 03/31/20
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | -2.15% | 4.97% | 3.92% | 7.03% |
| After sales charge | -7.78% | 2.91% | 2.70% | 6.40% |
| ICE BofA U.S. Convertible Index | -3.52% | 4.78% | 4.73% | 7.89% |
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 03/31/20 | -11.19% | -16.29% | |
| YTD as of 04/01/20 | -14.43% | -19.35% | |
Yield
| Distribution rate before sales charge as of 04/01/20 |
1.75% |
|---|---|
| Distribution rate after sales charge as of 04/01/20 |
1.65% |
| 30-day SEC yield as of 03/31/20 (after sales charge) |
1.40% |
Risk-adjusted performance as of 02/29/20
| Alpha (3 yrs.) | -1.03 |
|---|---|
| Sharpe ratio (3 yrs.) | 0.87 |
| Treynor ratio (3 yrs.) | 7.56 |
| Information ratio (3 yrs.) | -0.42 |
Volatility as of 02/29/20
| Standard deviation (3 yrs.) | 9.04% |
|---|---|
| Beta | 1.04 |
| R-squared | 0.97 |
Capture ratio as of 02/29/20
| Up-market (3 yrs.) | 101.00 |
|---|---|
| Down-market (3 yrs.) | 111.76 |
Lipper rankings as of 02/29/20
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 36/77 | 47% |
| 3 yrs. | 35/74 | 47% |
| 5 yrs. | 34/64 | 53% |
| 10 yrs. | 18/45 | 40% |
Morningstar Ratings™ as of 02/29/20
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 74 | |
| 3 yrs. | 74 | |
| 5 yrs. | 64 | |
| 10 yrs. | 45 |
Distributions
| Record/Ex dividend date | 03/26/20 |
|---|---|
| Payable date | 03/30/20 |
| Income | $0.093 |
| Extra income | -- |
| Short-term cap. gain | -- |
| Long-term cap. gain | -- |
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
The Morningstar RatingTM 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.
The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.
Holdings
| Microchip Technology | 3.55% |
|---|---|
| Bank of America | 2.39% |
| Broadcom | 2.27% |
| Dexcom | 2.07% |
| Tesla | 1.82% |
| Akamai Technologies | 1.79% |
| Teladoc Health | 1.78% |
| Liberty Media Corp | 1.72% |
| Insulet Corp | 1.69% |
| Dish Network Corp | 1.66% |
| Top 10 holdings, percent of portfolio | 20.74% |
| Top 10 holdings as of 02/29/20 | |
|---|---|
| Microchip Technology | |
| Bank of America | |
| Broadcom | |
| Dexcom | |
| Tesla | |
| Akamai Technologies | |
| Teladoc Health | |
| Liberty Media Corp | |
| Insulet Corp | |
| Dish Network Corp | |
| Holdings represent 20.74% of portfolio | |
| Top 10 holdings as of 01/31/20 | |
|---|---|
| Microchip Technology | |
| Broadcom | |
| Bank of America | |
| Tesla | |
| Dexcom | |
| Akamai Technologies | |
| Liberty Media Corp | |
| BD Medical | |
| Insulet Corp | |
| Danaher Corp | |
| Holdings represent 21.17% of portfolio | |
| Top 10 holdings as of 12/31/19 | |
|---|---|
| Microchip Technology | |
| Bank of America | |
| Broadcom | |
| Crown Castle International Corp | |
| BD Medical | |
| Danaher Corp | |
| Wells Fargo | |
| Dexcom | |
| Sempra Energy | |
| Liberty Media Corp | |
| Holdings represent 22.66% of portfolio | |
| Top 10 holdings as of 11/30/19 | |
|---|---|
| Microchip Technology | |
| Bank of America | |
| Broadcom | |
| BD Medical | |
| Wells Fargo | |
| Dexcom | |
| Danaher Corp | |
| Sempra Energy | |
| Crown Castle International Corp | |
| Akamai Technologies | |
| Holdings represent 21.38% of portfolio | |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 3.55% |
|---|---|
| BROADCOM INC 08.0000 CV PFD | 2.27% |
| BANK OF AMERICA CORP 07.2500 CV PFD | 2.10% |
| DEXCOM INC CV 00.7500 12/01/2023 | 2.07% |
| TESLA INC CV 02.0000 05/15/2024 | 1.82% |
| TELADOC INC CV 01.3750 05/15/2025 | 1.78% |
| DISH NETWORK CV 03.3750 08/15/2026 | 1.66% |
| CROWN CASTLE INTL CORP 06.8750 CUM CV PFD | 1.61% |
| WELLS FARGO & COMPANY 07.5000 CV PFD | 1.57% |
| SQUARE INC CV 00.5000 05/15/2023 | 1.56% |
| SPLUNK INC CV 01.1250 09/15/2025 | 1.55% |
| SERVICENOW IN CV 00.0000 06/01/2022 | 1.54% |
| DANAHER CORP 04.7500 CUM CV PFD | 1.51% |
| OKTA INC P/P 144A CV 00.1250 09/01/2025 | 1.45% |
| INSULET CORP P/P 144A CV 00.3750 09/01/2026 | 1.43% |
| EXACT SCIENCES CORP CV 00.3750 03/15/2027 | 1.40% |
| COUPA SOFTWAR P/P 144A CV 00.1250 06/15/2025 | 1.38% |
| BECTON DICKINSON AND CO 06.1250 CUM CV PFD | 1.35% |
| DOCUSIGN INC CV 00.5000 09/15/2023 | 1.30% |
| CHEGG INC P/P 144A CV 00.1250 03/15/2025 | 1.30% |
| RINGCENTRAL CV 00.0000 03/15/2023 | 1.29% |
| JPMORGAN CHAS P/P 144A CV 00.2500 05/01/2023 | 1.28% |
| SEMPRA ENERGY 06.0000 CUM CV PFD | 1.26% |
| PALO ALTO NET CV 00.7500 07/01/2023 | 1.24% |
| NRG ENERGY CV 02.7500 06/01/2048 | 1.20% |
| EVERBRIDGE P/P 144A CV 00.1250 12/15/2024 | 1.16% |
| ALTERYX INC P/P 144A CV 00.5000 08/01/2024 | 1.13% |
| NEXTERA ENERGY INC 04.8720 CV PFD | 1.12% |
| QTS REALTY TRUST INC 06.5000 CUM CV PFD | 1.12% |
| PRICELINE.COM CV 00.3500 06/15/2020 | 1.08% |
| RH P/P 144A CV 00.0000 09/15/2024 | 1.04% |
| LIBERTY INTER P/P 144A CV 01.7500 09/30/2046 | 1.01% |
| SOUTHERN CO 06.7500 CV PFD | 0.97% |
| LIVE NATION CV 02.5000 03/15/2023 | 0.94% |
| MONGODB INC P/P 144A CV 00.2500 01/15/2026 | 0.93% |
| AKAMAI TECH CV 00.1250 05/01/2025 | 0.92% |
| FORTIVE CORPORATION 05.0000 CUM CV PFD | 0.92% |
| WIX LTD USD 00.0000 07/01/2023 | 0.90% |
| ETSY INC P/P 144A CV 00.1250 10/01/2026 | 0.89% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.88% |
| PROOFPOINT IN P/P 144A CV 00.2500 08/15/2024 | 0.88% |
| J2 GLOBAL P/P 144A CV 01.7500 11/01/2026 | 0.87% |
| AKAMAI TECH P/P 144A CV 00.3750 09/01/2027 | 0.86% |
| INTL FLAVOR & FRAGRANCES 06.0000 CV PFD | 0.86% |
| ELANCO ANIMAL HEALTH INC 05.0000 CV PFD | 0.86% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.84% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 0.84% |
| ZENDESK INC CV 00.2500 03/15/2023 | 0.83% |
| INPHI CORP CV 00.7500 09/01/2021 | 0.83% |
| SAILPOINT TCH P/P 144A CV 00.1250 09/15/2024 | 0.80% |
| AMERICAN ELECTRIC POWER 06.1250 CV PFD | 0.79% |
| FTI CONSULTIN CV 02.0000 08/15/2023 | 0.78% |
| LIBERTY MEDIA CV 01.0000 01/30/2023 | 0.78% |
| ON SEMICONDUC CV 01.6250 10/15/2023 | 0.77% |
| BLACKSTONE MORTGAGE TR CV 04.7500 03/15/2023 | 0.76% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 0.75% |
| SAREPTA THERA CV 01.5000 11/15/2024 | 0.75% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.74% |
| AXA SA P/P 144A 07.2500 05/15/2021 | 0.74% |
| NUANCE COMM CV 01.2500 04/01/2025 | 0.73% |
| CYBERARK SFTWARE P/P 144A 00.0000 11/15/2024 | 0.72% |
| TWILIO INC CV 00.2500 06/01/2023 | 0.71% |
| ADVANCED MICRO DEVICES SEDOL 2007849 | 0.70% |
| HUBSPOT INC CV 00.2500 06/01/2022 | 0.70% |
| AIR TRANSPORT CV 01.1250 10/15/2024 | 0.70% |
| COLONY STARWO CV 03.5000 01/15/2022 | 0.68% |
| IRONWOOD PHAR P/P 144A CV 01.5000 06/15/2026 | 0.67% |
| WORKDAY INC CV 00.2500 10/01/2022 | 0.67% |
| VONAGE HLDGS P/P 144A CV 01.7500 06/01/2024 | 0.65% |
| CONMED CORP CV 02.6250 02/01/2024 | 0.65% |
| ESSENTIAL UTILITIES INC 06.0000 CV PFD | 0.65% |
| INTEGRA LIFE P/P 144A CV 00.5000 08/15/2025 | 0.62% |
| WINNEBAGO IND P/P 144A CV 01.5000 04/01/2025 | 0.62% |
| CHANGE HEALTHCARE INC 06.0000 CV PFD | 0.61% |
| LAM RESEARCH CORP SEDOL 2502247 | 0.60% |
| REALPAGE INC CV 01.5000 11/15/2022 | 0.59% |
| ARES CAP CORP CV 03.7500 02/01/2022 | 0.59% |
| PLURALSIGHT P/P 144A CV 00.3750 03/01/2024 | 0.56% |
| CREE INC CV 00.8750 09/01/2023 | 0.55% |
| KAMAN CORP CV 03.2500 05/01/2024 | 0.53% |
| NICE SYS INC CV 01.2500 01/15/2024 | 0.53% |
| IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 | 0.53% |
| BIOMARIN PHARMA CV 00.5990 08/01/2024 | 0.53% |
| NUTANIX INC CV 00.0000 01/15/2023 | 0.51% |
| TALEND SA P/P 144A CV 01.7500 09/01/2024 | 0.51% |
| TABULA RASA H P/P 144A CV 01.7500 02/15/2026 | 0.49% |
| WAYFAIR INC CV 01.1250 11/01/2024 | 0.48% |
| NEW RELIC INC CV 00.5000 05/01/2023 | 0.47% |
| AVANTOR INC 06.2500 CUM CV PFD | 0.46% |
| TERADYNE INC CV 01.2500 12/15/2023 | 0.45% |
| IQIYI INC P/P 144A 02.0000 04/01/2025 | 0.44% |
| GUESS INC P/P 144A CV 02.0000 04/15/2024 | 0.44% |
| VIAVI SOLUTIO CV 01.0000 03/01/2024 | 0.43% |
| NEUROCRINE CV 02.2500 05/15/2024 | 0.43% |
| HORIZON GLOBAL CORP CV 02.7500 07/01/2022 | 0.42% |
| REVANCE THERA P/P 144A CV 01.7500 02/15/2027 | 0.41% |
| II-VI INC CV 00.2500 09/01/2022 | 0.40% |
| GCI LIBERTY I P/P 144A CV 01.7500 09/30/2046 | 0.38% |
| LUMENTUM HOLD P/P 144A CV 00.5000 12/15/2026 | 0.38% |
| CHENIERE ENERGY INC CV 04.2500 03/15/2045 | 0.37% |
| T-MOBILE US INC SEDOL B94Q9V0 | 0.35% |
| PEGASYSTEMS P/P 144A CV 00.7500 03/01/2025 | 0.29% |
| BANK OF AMERICA CORP SEDOL 2295677 | 0.29% |
| INSULET CORP CV 01.3750 11/15/2024 | 0.26% |
| TALOS PRODUCTION LLC P/P 11.0000 04/03/2022 | 0.24% |
| NUVASIVE INC P/P 144A CV 00.3750 03/15/2025 | 0.24% |
| HESS CORP SEDOL 2023748 | 0.20% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2020 | 0.03% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.03% |
| GT ADVANCED TECH INC SEDOL BD70QH2 | 0.00% |
| CINCINNATI BELL INC 06.7500 CUM CV PFD | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 3.56% |
|---|---|
| BROADCOM INC 08.0000 CV PFD | 2.43% |
| TESLA INC CV 02.0000 05/15/2024 | 2.38% |
| BANK OF AMERICA CORP 07.2500 CV PFD | 2.10% |
| DEXCOM INC CV 00.7500 12/01/2023 | 1.92% |
| BECTON DICKINSON AND CO 06.1250 CUM CV PFD | 1.70% |
| DANAHER CORP 04.7500 CUM CV PFD | 1.60% |
| SERVICENOW IN CV 00.0000 06/01/2022 | 1.56% |
| WELLS FARGO & COMPANY 07.5000 CV PFD | 1.56% |
| SPLUNK INC CV 01.1250 09/15/2025 | 1.54% |
| EXACT SCIENCES CORP CV 00.3750 03/15/2027 | 1.47% |
| CROWN CASTLE INTL CORP 06.8750 CUM CV PFD | 1.46% |
| TELADOC INC CV 01.3750 05/15/2025 | 1.44% |
| SQUARE INC CV 00.5000 05/15/2023 | 1.40% |
| COUPA SOFTWAR P/P 144A CV 00.1250 06/15/2025 | 1.38% |
| INSULET CORP P/P 144A CV 00.3750 09/01/2026 | 1.38% |
| DISH NETWORK CV 03.3750 08/15/2026 | 1.36% |
| SEMPRA ENERGY 06.0000 CUM CV PFD | 1.36% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 1.36% |
| ON SEMICONDUC CV 01.6250 10/15/2023 | 1.35% |
| NRG ENERGY CV 02.7500 06/01/2048 | 1.34% |
| PALO ALTO NET CV 00.7500 07/01/2023 | 1.30% |
| JPMORGAN CHAS P/P 144A CV 00.2500 05/01/2023 | 1.29% |
| CHEGG INC P/P 144A CV 00.1250 03/15/2025 | 1.28% |
| OKTA INC P/P 144A CV 00.1250 09/01/2025 | 1.25% |
| RH P/P 144A CV 00.0000 09/15/2024 | 1.18% |
| DOCUSIGN INC CV 00.5000 09/15/2023 | 1.18% |
| NEXTERA ENERGY INC 04.8720 CV PFD | 1.16% |
| LIVE NATION CV 02.5000 03/15/2023 | 1.12% |
| PRICELINE.COM CV 00.3500 06/15/2020 | 1.11% |
| ALTERYX INC P/P 144A CV 00.5000 08/01/2024 | 1.08% |
| QTS REALTY TRUST INC 06.5000 CUM CV PFD | 1.08% |
| SOUTHERN CO 06.7500 CV PFD | 1.05% |
| EVERBRIDGE P/P 144A CV 00.1250 12/15/2024 | 1.02% |
| LIBERTY INTER P/P 144A CV 01.7500 09/30/2046 | 1.01% |
| RINGCENTRAL CV 00.0000 03/15/2023 | 1.00% |
| FORTIVE CORPORATION 05.0000 CUM CV PFD | 0.93% |
| COLONY STARWO CV 03.5000 01/15/2022 | 0.93% |
| MONGODB INC P/P 144A CV 00.2500 01/15/2026 | 0.92% |
| AKAMAI TECH CV 00.1250 05/01/2025 | 0.92% |
| PROOFPOINT IN P/P 144A CV 00.2500 08/15/2024 | 0.90% |
| INTL FLAVOR & FRAGRANCES 06.0000 CV PFD | 0.89% |
| ELANCO ANIMAL HEALTH INC 05.0000 CV PFD | 0.88% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.88% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.88% |
| J2 GLOBAL P/P 144A CV 01.7500 11/01/2026 | 0.87% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 0.86% |
| AKAMAI TECH P/P 144A CV 00.3750 09/01/2027 | 0.86% |
| ZENDESK INC CV 00.2500 03/15/2023 | 0.85% |
| LIBERTY MEDIA CV 01.0000 01/30/2023 | 0.85% |
| AMERICAN ELECTRIC POWER 06.1250 CV PFD | 0.84% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.84% |
| INPHI CORP CV 00.7500 09/01/2021 | 0.81% |
| WAYFAIR INC CV 01.1250 11/01/2024 | 0.80% |
| ETSY INC P/P 144A CV 00.1250 10/01/2026 | 0.80% |
| FTI CONSULTIN CV 02.0000 08/15/2023 | 0.78% |
| CYBERARK SFTWARE P/P 144A 00.0000 11/15/2024 | 0.78% |
| WIX LTD USD 00.0000 07/01/2023 | 0.78% |
| SAILPOINT TCH P/P 144A CV 00.1250 09/15/2024 | 0.77% |
| BLACKSTONE MORTGAGE TR CV 04.7500 03/15/2023 | 0.75% |
| TWILIO INC CV 00.2500 06/01/2023 | 0.75% |
| ESSENTIAL UTILITIES INC 06.0000 CV PFD | 0.74% |
| SAREPTA THERA CV 01.5000 11/15/2024 | 0.73% |
| AIR TRANSPORT CV 01.1250 10/15/2024 | 0.71% |
| ADVANCED MICRO DEVICES SEDOL 2007849 | 0.70% |
| HUBSPOT INC CV 00.2500 06/01/2022 | 0.68% |
| WORKDAY INC CV 00.2500 10/01/2022 | 0.67% |
| CONMED CORP CV 02.6250 02/01/2024 | 0.66% |
| CHANGE HEALTHCARE INC 06.0000 CV PFD | 0.65% |
| NUANCE COMM CV 01.2500 04/01/2025 | 0.64% |
| VONAGE HLDGS P/P 144A CV 01.7500 06/01/2024 | 0.63% |
| AXA SA P/P 144A 07.2500 05/15/2021 | 0.62% |
| WINNEBAGO IND P/P 144A CV 01.5000 04/01/2025 | 0.62% |
| LAM RESEARCH CORP SEDOL 2502247 | 0.59% |
| IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 | 0.59% |
| ARES CAP CORP CV 03.7500 02/01/2022 | 0.56% |
| OSI SYS INC CV 01.2500 09/01/2022 | 0.55% |
| PLURALSIGHT P/P 144A CV 00.3750 03/01/2024 | 0.54% |
| NICE SYS INC CV 01.2500 01/15/2024 | 0.54% |
| KAMAN CORP CV 03.2500 05/01/2024 | 0.54% |
| NUTANIX INC CV 00.0000 01/15/2023 | 0.54% |
| ANTHEM INC SEDOL BSPHGL4 | 0.53% |
| CREE INC CV 00.8750 09/01/2023 | 0.53% |
| REALPAGE INC CV 01.5000 11/15/2022 | 0.52% |
| BIOMARIN PHARMA CV 00.5990 08/01/2024 | 0.49% |
| TALEND SA P/P 144A CV 01.7500 09/01/2024 | 0.49% |
| TABULA RASA H P/P 144A CV 01.7500 02/15/2026 | 0.48% |
| GUESS INC P/P 144A CV 02.0000 04/15/2024 | 0.48% |
| NEW RELIC INC CV 00.5000 05/01/2023 | 0.47% |
| II-VI INC CV 00.2500 09/01/2022 | 0.47% |
| IRONWOOD PHAR P/P 144A CV 01.5000 06/15/2026 | 0.46% |
| SUPERNUS PH CV 00.6250 04/01/2023 | 0.45% |
| NEUROCRINE CV 02.2500 05/15/2024 | 0.43% |
| VIAVI SOLUTIO CV 01.0000 03/01/2024 | 0.43% |
| IQIYI INC P/P 144A 02.0000 04/01/2025 | 0.42% |
| HORIZON GLOBAL CORP CV 02.7500 07/01/2022 | 0.41% |
| GCI LIBERTY I P/P 144A CV 01.7500 09/30/2046 | 0.38% |
| JAZZ INVT I LTD USD 01.5000 08/15/2024 | 0.38% |
| CHENIERE ENERGY INC CV 04.2500 03/15/2045 | 0.38% |
| LUMENTUM HOLD P/P 144A CV 00.5000 12/15/2026 | 0.36% |
| NXP SEMICONDUCTORS NV SEDOL B505PN7 | 0.33% |
| BANK OF AMERICA CORP SEDOL 2295677 | 0.32% |
| T-MOBILE US INC SEDOL B94Q9V0 | 0.30% |
| INSULET CORP CV 01.3750 11/15/2024 | 0.26% |
| TWITTER INC P/P 144A 03.8750 12/15/2027 | 0.24% |
| TALOS PRODUCTION LLC P/P 11.0000 04/03/2022 | 0.24% |
| ABBVIE INC SEDOL B92SR70 | 0.22% |
| AMGEN INC SEDOL 2023607 | 0.22% |
| HESS CORP SEDOL 2023748 | 0.20% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2020 | 0.03% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.02% |
| GT ADVANCED TECH INC SEDOL BD70QH2 | 0.00% |
| CINCINNATI BELL INC 06.7500 CUM CV PFD | 0.00% |
| GT ADVANCED TECH INC CV 03.0000 12/15/2020 | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 4.12% |
|---|---|
| BANK OF AMERICA CORP 07.2500 CV PFD | 2.69% |
| BROADCOM INC 08.0000 CV PFD | 2.56% |
| CROWN CASTLE INTL CORP 06.8750 CUM CV PFD | 1.92% |
| BECTON DICKINSON AND CO 06.1250 CUM CV PFD | 1.92% |
| DANAHER CORP 04.7500 CUM CV PFD | 1.88% |
| WELLS FARGO & COMPANY 07.5000 CV PFD | 1.88% |
| DEXCOM INC CV 00.7500 12/01/2023 | 1.84% |
| SEMPRA ENERGY 06.0000 CUM CV PFD | 1.83% |
| PRICELINE.COM CV 00.3500 06/15/2020 | 1.61% |
| ON SEMICONDUC CV 01.6250 10/15/2023 | 1.59% |
| SPLUNK INC CV 01.1250 09/15/2025 | 1.55% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 1.45% |
| NRG ENERGY CV 02.7500 06/01/2048 | 1.43% |
| DISH NETWORK CV 03.3750 08/15/2026 | 1.39% |
| EXACT SCIENCES CORP CV 00.3750 03/15/2027 | 1.38% |
| JPMORGAN CHAS P/P 144A CV 00.2500 05/01/2023 | 1.33% |
| LIVE NATION CV 02.5000 03/15/2023 | 1.33% |
| PALO ALTO NET CV 00.7500 07/01/2023 | 1.32% |
| INSULET CORP P/P 144A CV 00.3750 09/01/2026 | 1.31% |
| SERVICENOW IN CV 00.0000 06/01/2022 | 1.25% |
| RH P/P 144A CV 00.0000 09/15/2024 | 1.24% |
| SQUARE INC CV 00.5000 05/15/2023 | 1.21% |
| TELADOC INC CV 01.3750 05/15/2025 | 1.20% |
| DOCUSIGN INC CV 00.5000 09/15/2023 | 1.17% |
| SOUTHERN CO 06.7500 CV PFD | 1.14% |
| NEXTERA ENERGY INC 04.8720 CV PFD | 1.12% |
| CHEGG INC P/P 144A CV 00.1250 03/15/2025 | 1.09% |
| QTS REALTY TRUST INC 06.5000 CUM CV PFD | 1.06% |
| COLONY STARWO CV 03.5000 01/15/2022 | 1.06% |
| INTL FLAVOR & FRAGRANCES 06.0000 CV PFD | 1.06% |
| COUPA SOFTWAR P/P 144A CV 00.1250 06/15/2025 | 1.05% |
| ADVANCED MICRO DEVICES SEDOL 2007849 | 1.03% |
| ALTERYX INC P/P 144A CV 00.5000 08/01/2024 | 0.99% |
| OKTA INC P/P 144A CV 00.1250 09/01/2025 | 0.98% |
| EVERBRIDGE P/P 144A CV 00.1250 12/15/2024 | 0.98% |
| LIBERTY INTER P/P 144A CV 01.7500 09/30/2046 | 0.98% |
| FORTIVE CORPORATION 05.0000 CUM CV PFD | 0.97% |
| AMERICAN ELECTRIC POWER 06.1250 CV PFD | 0.94% |
| INPHI CORP CV 00.7500 09/01/2021 | 0.93% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.91% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 0.91% |
| AKAMAI TECH CV 00.1250 05/01/2025 | 0.90% |
| CYBERARK SFTWARE P/P 144A 00.0000 11/15/2024 | 0.90% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.90% |
| PROOFPOINT IN P/P 144A CV 00.2500 08/15/2024 | 0.89% |
| BLACKSTONE MORTGAGE TR CV 04.7500 03/15/2023 | 0.89% |
| J2 GLOBAL P/P 144A CV 01.7500 11/01/2026 | 0.88% |
| LIBERTY MEDIA CV 01.0000 01/30/2023 | 0.86% |
| RINGCENTRAL CV 00.0000 03/15/2023 | 0.86% |
| AKAMAI TECH P/P 144A CV 00.3750 09/01/2027 | 0.85% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.84% |
| ZENDESK INC CV 00.2500 03/15/2023 | 0.80% |
| FTI CONSULTIN CV 02.0000 08/15/2023 | 0.77% |
| SAILPOINT TCH P/P 144A CV 00.1250 09/15/2024 | 0.76% |
| WIX LTD USD 00.0000 07/01/2023 | 0.74% |
| LAM RESEARCH CORP SEDOL 2502247 | 0.74% |
| WAYFAIR INC CV 01.1250 11/01/2024 | 0.74% |
| CONMED CORP P/P 144A CV 02.6250 02/01/2024 | 0.73% |
| AQUA AMERICA INC 06.0000 CV PFD | 0.70% |
| SAREPTA THERA CV 01.5000 11/15/2024 | 0.69% |
| ETSY INC P/P 144A CV 00.1250 10/01/2026 | 0.66% |
| AXA SA P/P 144A 07.2500 05/15/2021 | 0.66% |
| AMG CAPITAL TRUST II 05.1500 CUM CV PFD | 0.65% |
| WORKDAY INC CV 00.2500 10/01/2022 | 0.64% |
| TWILIO INC CV 00.2500 06/01/2023 | 0.64% |
| II-VI INC CV 00.2500 09/01/2022 | 0.63% |
| NUANCE COMM CV 01.2500 04/01/2025 | 0.63% |
| ANTHEM INC SEDOL BSPHGL4 | 0.62% |
| HUBSPOT INC CV 00.2500 06/01/2022 | 0.62% |
| BIOMARIN PHARMA CV 00.5990 08/01/2024 | 0.62% |
| IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 | 0.62% |
| AIR TRANSPORT CV 01.1250 10/15/2024 | 0.62% |
| VONAGE HLDGS P/P 144A CV 01.7500 06/01/2024 | 0.61% |
| OSI SYS INC CV 01.2500 09/01/2022 | 0.60% |
| KAMAN CORP CV 03.2500 05/01/2024 | 0.57% |
| NUTANIX INC CV 00.0000 01/15/2023 | 0.54% |
| PLURALSIGHT P/P 144A CV 00.3750 03/01/2024 | 0.54% |
| TALEND SA P/P 144A CV 01.7500 09/01/2024 | 0.52% |
| NXP SEMICONDUCTORS NV SEDOL B505PN7 | 0.52% |
| REALPAGE INC CV 01.5000 11/15/2022 | 0.50% |
| NICE SYS INC CV 01.2500 01/15/2024 | 0.50% |
| GUESS INC P/P 144A CV 02.0000 04/15/2024 | 0.50% |
| JAZZ INVT I LTD USD 01.5000 08/15/2024 | 0.50% |
| NEW RELIC INC CV 00.5000 05/01/2023 | 0.48% |
| CREE INC CV 00.8750 09/01/2023 | 0.47% |
| NEUROCRINE CV 02.2500 05/15/2024 | 0.46% |
| SUPERNUS PH CV 00.6250 04/01/2023 | 0.46% |
| TABULA RASA H P/P 144A CV 01.7500 02/15/2026 | 0.45% |
| ARES CAP CORP CV 03.7500 02/01/2022 | 0.43% |
| HORIZON GLOBAL CORP CV 02.7500 07/01/2022 | 0.42% |
| IQIYI INC P/P 144A 02.0000 04/01/2025 | 0.42% |
| ILLUMINA INC CV 00.0000 08/15/2023 | 0.40% |
| CHENIERE ENERGY INC CV 04.2500 03/15/2045 | 0.39% |
| LUMENTUM HOLD P/P 144A CV 00.5000 12/15/2026 | 0.38% |
| GCI LIBERTY I P/P 144A CV 01.7500 09/30/2046 | 0.37% |
| PATRICK INDS CV 01.0000 02/01/2023 | 0.37% |
| HESS CORP SEDOL 2023748 | 0.32% |
| LIGAND PHARMA CV 00.7500 05/15/2023 | 0.31% |
| T-MOBILE US INC SEDOL B94Q9V0 | 0.30% |
| EXXON MOBIL CORP SEDOL 2326618 | 0.30% |
| EURONET WORLD P/P 144A CV 00.7500 03/15/2049 | 0.30% |
| WESTERN DI CV 01.5000 02/01/2024 | 0.30% |
| AMGEN INC SEDOL 2023607 | 0.26% |
| FORTIVE CORP P/P 144A CV 00.8750 02/15/2022 | 0.25% |
| ABBVIE INC SEDOL B92SR70 | 0.25% |
| TWITTER INC P/P 144A 03.8750 12/15/2027 | 0.25% |
| TALOS PRODUCTION LLC P/P 11.0000 04/03/2022 | 0.24% |
| INSULET CORP CV 01.3750 11/15/2024 | 0.23% |
| BANK OF AMERICA CORP SEDOL 2295677 | 0.20% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2020 | 0.03% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.03% |
| GT ADVANCED TECH INC SEDOL BD70QH2 | 0.00% |
| CINCINNATI BELL INC 06.7500 CUM CV PFD | 0.00% |
| GT ADVANCED TECH INC CV 03.0000 12/15/2020 | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
| MICROCHIP TEC CV 01.6250 02/15/2027 | 3.62% |
|---|---|
| BANK OF AMERICA CORP 07.2500 CV PFD | 2.74% |
| BROADCOM INC 08.0000 CV PFD | 2.13% |
| BECTON DICKINSON AND CO 06.1250 CUM CV PFD | 1.99% |
| WELLS FARGO & COMPANY 07.5000 CV PFD | 1.90% |
| DEXCOM INC CV 00.7500 12/01/2023 | 1.90% |
| DANAHER CORP 04.7500 CUM CV PFD | 1.84% |
| SEMPRA ENERGY 06.0000 CUM CV PFD | 1.80% |
| CROWN CASTLE INTL CORP 06.8750 CUM CV PFD | 1.80% |
| SPLUNK INC CV 01.1250 09/15/2025 | 1.56% |
| PRICELINE.COM CV 00.3500 06/15/2020 | 1.51% |
| OKTA INC P/P 144A CV 00.1250 09/01/2025 | 1.47% |
| DISH NETWORK CV 03.3750 08/15/2026 | 1.37% |
| SERVICENOW IN CV 00.0000 06/01/2022 | 1.37% |
| NRG ENERGY CV 02.7500 06/01/2048 | 1.37% |
| INSULET CORP P/P 144A CV 00.3750 09/01/2026 | 1.36% |
| DOCUSIGN INC CV 00.5000 09/15/2023 | 1.36% |
| ON SEMICONDUC CV 01.6250 10/15/2023 | 1.35% |
| LIVE NATION CV 02.5000 03/15/2023 | 1.32% |
| PALO ALTO NET CV 00.7500 07/01/2023 | 1.32% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 1.30% |
| EXACT SCIENCES CORP CV 00.3750 03/15/2027 | 1.29% |
| SQUARE INC CV 00.5000 05/15/2023 | 1.27% |
| ALTERYX INC P/P 144A CV 00.5000 08/01/2024 | 1.22% |
| TELADOC INC CV 01.3750 05/15/2025 | 1.21% |
| RH P/P 144A CV 00.0000 09/15/2024 | 1.20% |
| COUPA SOFTWAR P/P 144A CV 00.1250 06/15/2025 | 1.18% |
| WORKDAY INC CV 00.2500 10/01/2022 | 1.16% |
| JPMORGAN CHAS P/P 144A CV 00.2500 05/01/2023 | 1.12% |
| SOUTHERN CO 06.7500 CV PFD | 1.12% |
| CHEGG INC P/P 144A CV 00.1250 03/15/2025 | 1.10% |
| COLONY STARWO CV 03.5000 01/15/2022 | 1.08% |
| NEXTERA ENERGY INC 04.8720 CV PFD | 1.03% |
| AMERICAN ELECTRIC POWER 06.1250 CV PFD | 0.95% |
| LIBERTY INTER P/P 144A CV 01.7500 09/30/2046 | 0.95% |
| INTL FLAVOR & FRAGRANCES 06.0000 CV PFD | 0.93% |
| CYBERARK SFTWARE P/P 144A 00.0000 11/15/2024 | 0.92% |
| QTS REALTY TRUST INC 06.5000 CUM CV PFD | 0.92% |
| AKAMAI TECH CV 00.1250 05/01/2025 | 0.92% |
| WAYFAIR INC CV 01.1250 11/01/2024 | 0.92% |
| PROOFPOINT IN P/P 144A CV 00.2500 08/15/2024 | 0.91% |
| LIBERTY MEDIA CV 01.3750 10/15/2023 | 0.90% |
| INPHI CORP CV 00.7500 09/01/2021 | 0.90% |
| FORTIVE CORPORATION 05.0000 CUM CV PFD | 0.89% |
| BLACKSTONE MORTGAGE TR CV 04.7500 03/15/2023 | 0.88% |
| RINGCENTRAL CV 00.0000 03/15/2023 | 0.88% |
| LIBERTY MEDIA CV 01.0000 01/30/2023 | 0.86% |
| REPLIGEN CORP CV 00.3750 07/15/2024 | 0.84% |
| ZENDESK INC CV 00.2500 03/15/2023 | 0.82% |
| J2 GLOBAL P/P 144A CV 01.7500 11/01/2026 | 0.80% |
| CONMED CORP P/P 144A CV 02.6250 02/01/2024 | 0.80% |
| SAILPOINT TCH P/P 144A CV 00.1250 09/15/2024 | 0.78% |
| FTI CONSULTIN CV 02.0000 08/15/2023 | 0.76% |
| INTEL CORP CV 03.2500 08/01/2039 | 0.76% |
| JAZZ INVT I LTD USD 01.5000 08/15/2024 | 0.75% |
| AKAMAI TECH P/P 144A CV 00.3750 09/01/2027 | 0.75% |
| WIX LTD USD 00.0000 07/01/2023 | 0.73% |
| IAC FIN 2 P/P 144A CV 00.8750 06/15/2026 | 0.72% |
| ETSY INC P/P 144A CV 00.1250 10/01/2026 | 0.71% |
| ADVANCED MICRO DEVICES SEDOL 2007849 | 0.71% |
| TWITTER INC CV 01.0000 09/15/2021 | 0.69% |
| AXA SA P/P 144A 07.2500 05/15/2021 | 0.66% |
| AMG CAPITAL TRUST II 05.1500 CUM CV PFD | 0.66% |
| EVERBRIDGE INC CV 01.5000 11/01/2022 | 0.65% |
| LIBERTY MEDIA P/P 144A CV 02.7500 12/01/2049 | 0.64% |
| AIR TRANSPORT CV 01.1250 10/15/2024 | 0.63% |
| NUANCE COMM CV 01.2500 04/01/2025 | 0.63% |
| SAREPTA THERA CV 01.5000 11/15/2024 | 0.62% |
| VONAGE HLDGS P/P 144A CV 01.7500 06/01/2024 | 0.61% |
| BIOMARIN PHARMA CV 00.5990 08/01/2024 | 0.61% |
| II-VI INC CV 00.2500 09/01/2022 | 0.61% |
| HUBSPOT INC CV 00.2500 06/01/2022 | 0.60% |
| OSI SYS INC CV 01.2500 09/01/2022 | 0.60% |
| LAM RESEARCH CORP SEDOL 2502247 | 0.60% |
| NEUROCRINE CV 02.2500 05/15/2024 | 0.59% |
| TWILIO INC CV 00.2500 06/01/2023 | 0.58% |
| ILLUMINA INC CV 00.0000 08/15/2023 | 0.58% |
| NUTANIX INC CV 00.0000 01/15/2023 | 0.58% |
| KAMAN CORP CV 03.2500 05/01/2024 | 0.57% |
| IAC FINANCECO P/P 144A CV 00.8750 10/01/2022 | 0.56% |
| EURONET WORLD P/P 144A CV 00.7500 03/15/2049 | 0.55% |
| TALEND SA P/P 144A CV 01.7500 09/01/2024 | 0.54% |
| PLURALSIGHT P/P 144A CV 00.3750 03/01/2024 | 0.54% |
| REALPAGE INC CV 01.5000 11/15/2022 | 0.52% |
| NICE SYS INC CV 01.2500 01/15/2024 | 0.49% |
| ANTHEM INC SEDOL BSPHGL4 | 0.49% |
| NEW RELIC INC CV 00.5000 05/01/2023 | 0.49% |
| CREE INC CV 00.8750 09/01/2023 | 0.46% |
| SUPERNUS PH CV 00.6250 04/01/2023 | 0.46% |
| GUESS INC P/P 144A CV 02.0000 04/15/2024 | 0.46% |
| TABULA RASA H P/P 144A CV 01.7500 02/15/2026 | 0.43% |
| HORIZON GLOBAL CORP CV 02.7500 07/01/2022 | 0.42% |
| IQIYI INC P/P 144A 02.0000 04/01/2025 | 0.40% |
| CHENIERE ENERGY INC CV 04.2500 03/15/2045 | 0.39% |
| FORTIVE CORP P/P 144A CV 00.8750 02/15/2022 | 0.39% |
| NXP SEMICONDUCTORS NV SEDOL B505PN7 | 0.38% |
| GCI LIBERTY I P/P 144A CV 01.7500 09/30/2046 | 0.36% |
| PATRICK INDS CV 01.0000 02/01/2023 | 0.36% |
| LIGAND PHARMA CV 00.7500 05/15/2023 | 0.31% |
| T-MOBILE US INC SEDOL B94Q9V0 | 0.31% |
| HESS CORP SEDOL 2023748 | 0.30% |
| WESTERN DI CV 01.5000 02/01/2024 | 0.28% |
| INSULET CORP CV 01.3750 11/15/2024 | 0.25% |
| EXXON MOBIL CORP SEDOL 2326618 | 0.25% |
| AMGEN INC SEDOL 2023607 | 0.25% |
| ABBVIE INC SEDOL B92SR70 | 0.25% |
| TALOS PRODUCTION LLC P/P 11.0000 04/03/2022 | 0.24% |
| CHINA MEDICAL TECH INC USD 04.0000 08/15/2020 | 0.03% |
| CHINA MED TECH P/P 144A 06.2500 12/17/2020 | 0.03% |
| GT ADVANCED TECH INC SEDOL BD70QH2 | 0.00% |
| CINCINNATI BELL INC 06.7500 CUM CV PFD | 0.00% |
| DISH NETWORK CORP-RTS SEDOL BL0L9Q8 | 0.00% |
| GT ADVANCED TECH INC CV 03.0000 12/15/2020 | 0.00% |
| POWERWAVE TECHNOLOGIES CV 03.8750 10/01/2027 | 0.00% |
Portfolio composition as of 02/29/20
| Convertible bonds and notes | 71.38% |
|---|---|
| Mandatories | 16.73% |
| Convertible preferred stock | 4.79% |
| Cash and net other assets | 4.70% |
| Common stock | 2.15% |
| Corporate bonds and notes | 0.25% |
Equity statistics as of 02/29/20
| Median market cap | $8.74B |
|---|---|
| Weighted average market cap | $33.76B |
| Price to book | 3.74 |
| Price to earnings | 27.65 |
Fixed income statistics as of 02/29/20
| Average stated maturity | 4.70 yrs. |
|---|---|
| Average effective duration | 1.53 yrs. |
| Average yield to maturity | -3.38% |
| Average coupon | 2.15% |
Maturity detail as of 02/29/20
| 0 - 1 yr. | 17.24% |
|---|---|
| 1 - 5 yrs. | 53.21% |
| 5 - 10 yrs. | 25.71% |
| Over 15 yrs. | 3.84% |
Quality rating as of 02/29/20
| A | 3.48% |
|---|---|
| BBB | 6.78% |
| BB | 6.70% |
| B | 7.96% |
| CCC and Below | 0.42% |
| Not Rated | 69.96% |
| Cash and net other assets | 4.70% |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: Convertible securities prices may fall or fail to rise over time for several reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. These risks are generally greater for convertible securities issued by small and/or midsize companies. Convertible securities' prices may be adversely affected by underlying common stock price changes. While convertible securities tend to provide higher yields than common stocks, the higher yield may not protect against the risk of loss or mitigate any loss associated with a convertible security's price decline. Convertible securities are subject to credit risk, which is the risk that an issuer of the fund's investments may default on payment of interest or principal. Credit risk is generally greater for below- investment-grade convertible securities. Convertible securities may be less sensitive to interest-rate changes than non-convertible bonds because of their structural features (e.g., convertibility, "put" features). Interest-rate risk is generally greater, however, for longer-term bonds and convertible securities whose underlying stock price has fallen significantly below the conversion price. You can lose money by investing in the fund.
Credit qualities are shown as a percentage of the fund’s net assets. A bond rated BBB or higher (A-3/SP-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor’s, Moody’s, and Fitch. Ratings may vary over time. Equity securities are shown in the not-rated category. Cash and net other assets, if any, represent the market value weights of cash and derivatives and may show a negative market value as a result of the timing of trade versus settlement date transactions. The fund itself has not been rated by an independent rating agency.
Top industry sectors as of 02/29/20
| Information technology | 38.54% |
|---|---|
| Health care | 17.29% |
| Consumer discretionary | 9.45% |
| Communication services | 7.93% |
| Financials | 7.32% |
| Utilities | 6.00% |
| Cash and net other assets | 4.70% |
| Industrials | 3.68% |
| Real estate | 3.41% |
| Other | 1.68% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time.
Country allocation as of 02/29/20
| United States | 92.44% |
|---|---|
| Cash and net other assets | 4.70% |
| Israel | 1.62% |
| France | 0.74% |
| China | 0.50% |
0
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|
| Total expense ratio | 1.05% | 1.80% | 1.80% | 1.30% | 0.72% | 0.80% |
| What you pay | 1.05% | 1.80% | 1.80% | 1.30% | 0.72% | 0.80% |
Sales charge
| Investment Breakpoint | Class A | Class B | Class C | Class R | Class R6 | Class Y |
|---|---|---|---|---|---|---|
| $0-$49,999 | 5.75% | 0.00% | 0.00% | -- | -- | -- |
| $50,000-$99,999 | 4.50% | 0.00% | 0.00% | -- | -- | -- |
| $100,000-$249,999 | 3.50% | -- | 0.00% | -- | -- | -- |
| $250,000-$499,999 | 2.50% | -- | 0.00% | -- | -- | -- |
| $500,000-$999,999 | 2.00% | -- | 0.00% | -- | -- | -- |
| $1M-$4M | 0.00% | -- | -- | -- | -- | -- |
| $4M-$50M | 0.00% | -- | -- | -- | -- | -- |
| $50M+ | 0.00% | -- | -- | -- | -- | -- |
CDSC
| Class A (sales for $1,000,000+) | Class B | Class C | Class R | Class R6 | Class Y | |
|---|---|---|---|---|---|---|
| 0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
| 9 to 12 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- |
| 2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- |
| 3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
| 4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- |
| 5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- |
| 6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- |
| 7+ yrs. | 0.00% | 0.00% | 0.00% | -- | -- | -- |
The ICE BofA U.S. Convertible Index tracks the performance of publicly issued U.S. dollar denominated convertible securities of U.S. companies. You cannot invest directly in an index.
Consider these risks before investing: Convertible securities prices may fall or fail to rise over time for several reasons, including general financial market conditions, changing market perceptions (including perceptions about the risk of default and expectations about monetary policy or interest rates), changes in government intervention in the financial markets, and factors related to a specific issuer or industry. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. These risks are generally greater for convertible securities issued by small and/or midsize companies. Convertible securities' prices may be adversely affected by underlying common stock price changes. While convertible securities tend to provide higher yields than common stocks, the higher yield may not protect against the risk of loss or mitigate any loss associated with a convertible security's price decline. Convertible securities are subject to credit risk, which is the risk that an issuer of the fund's investments may default on payment of interest or principal. Credit risk is generally greater for below- investment-grade convertible securities. Convertible securities may be less sensitive to interest-rate changes than non-convertible bonds because of their structural features (e.g., convertibility, "put" features). Interest-rate risk is generally greater, however, for longer-term bonds and convertible securities whose underlying stock price has fallen significantly below the conversion price. You can lose money by investing in the fund.
Credit qualities are shown as a percentage of the fund’s net assets. A bond rated BBB or higher (A-3/SP-3 or higher, for short-term debt) is considered investment grade. This chart reflects the highest security rating provided by one or more of Standard & Poor’s, Moody’s, and Fitch. Ratings may vary over time. Equity securities are shown in the not-rated category. Cash and net other assets, if any, represent the market value weights of cash and derivatives and may show a negative market value as a result of the timing of trade versus settlement date transactions. The fund itself has not been rated by an independent rating agency.