Harbor Convertible Securities Fund (HACSX)
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Overview
Investment Team
As of 9/22/2023
As of 8/31/2023
Performance
Fund Name
3 Mo.
YTD Return
1 Yr.
3 Yr.
5 Yr.
10 Yr.
Since Inception
Net Expense Ratio
Gross Expense Ratio
Convertible Securities Fund
4.20%
5.14%
2.76%
1.33%
5.61%
5.73%
5.56%
0.71%
0.74%
ICE BofA U.S. Convertible Bond Index
5.26%
8.63%
3.77%
3.22%
8.87%
9.53%
8.93%
--
--
ICE BofA US Convertible Ex Mandatory Index
5.34%
9.45%
3.94%
2.67%
9.16%
10.08%
9.45%
--
--
Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.
Effective on March 1, 2023, the Funds benchmark has changed from ICE BofA U.S. Convertible Ex Mandatory to ICE BofA U.S. Convertible Bond Index.
The ICE BofA US Convertible Ex Mandatory Index is broadly representative of the U.S. convertible securities market, consisting of publicly traded issues, denominated in U.S. Dollars, of all credit qualities, and excluding mandatory (equity-linked) convertibles. This unmanaged index does not reflect fees and expenses and is not available for direct investment.
Distribution History
Record Date
Reinvest Date
Payable Date
Return of Capital Non Taxable Dist
Ordinary Income
Total Capital Gains
Short Term Capital Gains
Mid Term Capital Gains
Long Term Capital Gains
Total Distribution
Foreign Tax Credit
Reinvest Price
6/29/2023
6/30/2023
6/30/2023
0.00000
0.10299
0.00000
--
0.00000
--
0.10299
0.00000
10.20
3/30/2023
3/31/2023
3/31/2023
0.00000
0.06935
0.00000
--
0.00000
--
0.06935
0.00000
--
12/16/2022
12/19/2022
12/19/2022
0.00000
0.05852
0.00000
--
0.00000
--
0.05852
0.00000
9.86
9/28/2022
9/29/2022
9/29/2022
0.00000
0.01245
0.00000
--
0.00000
--
0.01245
0.00000
9.60
6/28/2022
6/29/2022
6/29/2022
0.00000
0.00426
0.00000
--
0.00000
--
0.00426
0.00000
9.82
3/29/2022
3/30/2022
3/30/2022
0.00000
0.00401
0.00000
--
0.00000
--
0.00401
0.00000
11.26
12/17/2021
12/20/2021
12/20/2021
0.00000
0.04683
1.61367
0.88695
0.00000
0.72672
1.66050
0.00000
11.43
6/28/2021
6/29/2021
6/29/2021
0.00000
0.00018
0.00000
0.00000
0.00000
0.00000
0.00018
0.00000
13.58
3/29/2021
3/30/2021
3/30/2021
0.00000
0.00303
0.00000
0.00000
0.00000
0.00000
0.00303
0.00000
13.14
12/16/2020
12/17/2020
12/17/2020
0.00000
0.07630
1.16446
0.90624
0.00000
0.25822
1.24076
0.00000
12.91
9/28/2020
9/29/2020
9/29/2020
0.00000
0.01202
0.00000
0.00000
0.00000
0.00000
0.01202
0.00000
12.40
6/26/2020
6/29/2020
6/29/2020
0.00000
0.01410
0.00000
0.00000
0.00000
0.00000
0.01410
0.00000
11.51
3/27/2020
3/30/2020
3/30/2020
0.00000
0.01694
0.00000
0.00000
0.00000
0.00000
0.01694
0.00000
9.46
12/13/2019
12/16/2019
12/16/2019
0.00000
0.03322
0.33300
0.21604
0.00000
0.11696
0.36622
0.00000
10.78
9/25/2019
9/26/2019
9/26/2019
0.00000
0.02118
0.00000
0.00000
0.00000
0.00000
0.02118
0.00000
10.71
6/26/2019
6/27/2019
6/27/2019
0.00000
0.02278
0.00000
0.00000
0.00000
0.00000
0.02278
0.00000
10.72
3/27/2019
3/28/2019
3/28/2019
0.00000
0.02241
0.00000
0.00000
0.00000
0.00000
0.02241
0.00000
10.40
12/14/2018
12/17/2018
12/17/2018
0.00000
0.10127
0.49150
0.36038
0.00000
0.13112
0.59277
0.00000
9.63
9/26/2018
9/27/2018
9/27/2018
0.00000
0.02124
0.00000
0.00000
0.00000
0.00000
0.02124
0.00000
10.97
6/27/2018
6/28/2018
6/28/2018
0.00000
0.02087
0.00000
0.00000
0.00000
0.00000
0.02087
0.00000
10.73
3/27/2018
3/28/2018
3/28/2018
0.00000
0.02058
0.00000
0.00000
0.00000
0.00000
0.02058
0.00000
10.35
12/15/2017
12/18/2017
12/18/2017
0.00000
0.02032
1.00209
1.00209
0.00000
0.00000
1.02241
0.00000
10.30
9/27/2017
9/28/2017
9/28/2017
0.00000
0.03795
0.00000
0.00000
0.00000
0.00000
0.03795
0.00000
11.14
6/28/2017
6/29/2017
6/29/2017
0.00000
0.03084
0.00000
0.00000
0.00000
0.00000
0.03084
0.00000
11.02
3/29/2017
3/30/2017
3/30/2017
0.00000
0.03770
0.00000
0.00000
0.00000
0.00000
0.03770
0.00000
10.83
12/16/2016
12/19/2016
12/19/2016
0.00000
0.06537
0.00000
0.00000
0.00000
0.00000
0.06537
0.00000
10.55
9/28/2016
9/29/2016
9/29/2016
0.00000
0.02344
0.00000
0.00000
0.00000
0.00000
0.02344
0.00000
10.64
6/28/2016
6/29/2016
6/29/2016
0.00000
0.02658
0.00000
0.00000
0.00000
0.00000
0.02658
0.00000
10.12
3/29/2016
3/30/2016
3/30/2016
0.00000
0.02476
0.00000
0.00000
0.00000
0.00000
0.02476
0.00000
9.95
12/16/2015
12/17/2015
12/17/2015
0.00000
0.14277
0.19480
0.00000
0.00000
0.19480
0.33757
0.00000
10.09
9/23/2015
9/24/2015
9/24/2015
0.00000
0.03180
0.00000
0.00000
0.00000
0.00000
0.03180
0.00000
10.61
6/26/2015
6/29/2015
6/29/2015
0.00000
0.03310
0.00000
0.00000
0.00000
0.00000
0.03310
0.00000
10.90
3/27/2015
3/30/2015
3/30/2015
0.00000
0.03480
0.00000
0.00000
0.00000
0.00000
0.03480
0.00000
10.87
12/17/2014
12/18/2014
12/18/2014
0.00000
0.11993
0.41866
0.07677
0.00000
0.34189
0.53859
0.00000
10.47
9/24/2014
9/25/2014
9/25/2014
0.00000
0.03767
0.00000
0.00000
0.00000
0.00000
0.03767
0.00000
11.19
6/25/2014
6/26/2014
6/26/2014
0.00000
0.03245
0.00000
0.00000
0.00000
0.00000
0.03245
0.00000
11.48
3/26/2014
3/27/2014
3/27/2014
0.00000
0.03708
0.00000
0.00000
0.00000
0.00000
0.03708
0.00000
11.18
12/16/2013
12/17/2013
12/17/2013
0.00000
0.09841
0.10733
0.00000
0.00000
0.10733
0.20574
0.00000
10.77
9/25/2013
9/26/2013
9/26/2013
0.00000
0.04253
0.00000
0.00000
0.00000
0.00000
0.04253
0.00000
10.77
6/26/2013
6/27/2013
6/27/2013
0.00000
0.02907
0.00000
0.00000
0.00000
0.00000
0.02907
0.00000
10.38
3/27/2013
3/28/2013
3/28/2013
0.00000
0.03753
0.00000
0.00000
0.00000
0.00000
0.03753
0.00000
10.34
12/14/2012
12/17/2012
12/17/2012
0.00000
0.11512
0.00000
0.00000
0.00000
0.00000
0.11512
0.00000
9.99
9/26/2012
9/27/2012
9/27/2012
0.00000
0.04569
0.00000
0.00000
0.00000
0.00000
0.04569
0.00000
10.01
6/27/2012
6/28/2012
6/28/2012
0.00000
0.05481
0.00000
0.00000
0.00000
0.00000
0.05481
0.00000
9.63
3/28/2012
3/29/2012
3/29/2012
0.00000
0.05282
0.00000
0.00000
0.00000
0.00000
0.05282
0.00000
9.93
12/15/2011
12/16/2011
12/16/2011
0.00000
0.09077
0.00000
0.00000
0.00000
0.00000
0.09077
0.00000
9.23
9/28/2011
9/29/2011
9/29/2011
0.00000
0.03741
0.00000
0.00000
0.00000
0.00000
0.03741
0.00000
9.29
6/28/2011
6/29/2011
6/29/2011
0.00000
0.02286
0.00000
0.00000
0.00000
0.00000
0.02286
0.00000
9.84
Holdings
Full Holdings
As of 6/30/2023
Company Name
Maturity Date
Coupon Rate (%)
Market Value ($000's)
% of Net Assets
WELLS FARGO & CO
--
0.0
1,152
3.2
PALO ALTO NETWORKS SR UNSECURED 06/25 0.375
6/1/2025
0.4
1,031
2.8
ROYAL CARIBBEAN CRUISES SR UNSECURED 144A 08/25 6
8/15/2025
6.0
661
1.8
AIRBNB INC 03/26 0
3/15/2026
0.0
612
1.7
COINBASE GLOBAL INC SR UNSECURED 06/26 0.5
6/1/2026
0.5
605
1.7
SPLUNK INC.
9/15/2025
1.1
602
1.6
MONGODB INC SR UNSECURED 01/26 0.25
1/15/2026
0.3
598
1.6
NCL CORP LTD 02/27 2.5
2/15/2027
2.5
570
1.6
ON SEMICONDUCTOR CORP COMPANY GUAR 144A 03/29 0.5
3/1/2029
0.5
567
1.6
Exact Sciences Corp.
1/15/2025
1.0
552
1.5
AXON ENTERPRISE INC SR UNSECURED 144A 12/27 0.5
12/15/2027
0.5
535
1.5
DRAFTKINGS INC 03/28 0
3/15/2028
0.0
529
1.5
BENTLEY SYSTEMS INC SR UNSECURED 01/26 0.125
1/15/2026
0.1
517
1.4
HAEMONETICS CORP SR UNSECURED 03/26 0.00000
3/1/2026
0.0
514
1.4
DEXCOM INC SR UNSECURED 144A 05/28 0.375
5/15/2028
0.4
512
1.4
CLOUDFLARE INC SR UNSECURED 08/26 0.00000
8/15/2026
0.0
512
1.4
FASTLY INC SR UNSECURED 03/26 0.00000
3/15/2026
0.0
498
1.4
JETBLUE AIRWAYS CORP 04/26 0.5
4/1/2026
0.5
496
1.4
GUIDEWIRE SOFTWARE INC SR UNSECURED 03/25 1.25
3/15/2025
1.3
484
1.3
DISH NETWORK CORP 12/25 0
12/15/2025
0.0
480
1.3
Etsy Inc.
10/1/2026
0.1
475
1.3
BRIDGEBIO PHARMA INC SR UNSECURED 03/27 2.5
3/15/2027
2.5
473
1.3
ALPHATEC HOLDINGS INC SR UNSECURED 08/26 0.75
8/1/2026
0.8
466
1.3
SQUARE INC 11/27 0.25
11/1/2027
0.3
463
1.3
PEGASYSTEMS INC SR NT 0.75 25 03/25 0.75
3/1/2025
0.8
460
1.3
MICROCHIP TECHNOLOGY INC SR SUBORDINA 11/24 0.125
11/15/2024
0.1
455
1.2
OKTA INC SR UNSECURED 09/25 0.125
9/1/2025
0.1
455
1.2
BOOKING HLDGS INC 05/25 0.75
5/1/2025
0.8
451
1.2
CONMED CORP 06/27 2.25
6/15/2027
2.3
448
1.2
CERIDIAN HCM HOLDING INC 03/26 0.25
3/15/2026
0.3
442
1.2
VISHAY INTERTECHNOLOGY SR UNSECURED 06/25 2.25
6/15/2025
2.3
439
1.2
Exact Sciences Corp.
3/15/2027
0.4
432
1.2
LIVE NATION ENTERTAINMENT INC 02/25 2
2/15/2025
2.0
427
1.2
WELLTOWER OP LLC COMPANY GUAR 144A 05/28 2.75
5/15/2028
2.8
405
1.1
HELIX ENERGY SOLUTIONS SR UNSECURED 02/26 6.75
2/15/2026
6.8
398
1.1
EZCORP INC SR UNSECURED 144A 12/29 3.75
12/15/2029
3.8
396
1.1
Akamai Technologies Inc.
9/1/2027
0.4
388
1.1
SNAP INC 05/27 0
5/1/2027
0.0
373
1.0
NEXTERA ENERGY INC
--
0.0
371
1.0
ENVESTNET INC 08/25 0.75
8/15/2025
0.8
369
1.0
ON SEMICONDUCTOR CORP 05/27 0
5/1/2027
0.0
368
1.0
RBC BEARINGS INC
--
0.0
360
1.0
SHIFT4 PAYMENTS, INC. 08/27 0.5
8/1/2027
0.5
355
1.0
ARRAY TECHNOLOGIES INC SR UNSECURED 12/28 1
12/1/2028
1.0
344
0.9
OKTA INC 06/26 0.375
6/15/2026
0.4
343
0.9
TRANSMEDICS GROUP INC SR UNSECURED 144A 06/28 1.5
6/1/2028
1.5
343
0.9
CHEESECAKE FACTORY (THE) SR UNSECURED 06/26 0.375
6/15/2026
0.4
338
0.9
EL PASO ENERGY CAPITAL TRUST I
--
0.0
334
0.9
CARNIVAL CORP COMPANY GUAR 144A 12/27 5.75
12/1/2027
5.8
334
0.9
WAYFAIR INC SR UNSECURED 08/26 1
8/15/2026
1.0
331
0.9
REDFIN CORP 10/25 0
10/15/2025
0.0
328
0.9
SAREPTA THERAPEUTICS INC SR UNSECURED 144A 09/27 1.25
9/15/2027
1.3
325
0.9
MANNKIND CORP SR UNSECURED 03/26 2.5
3/1/2026
2.5
321
0.9
LIBERTY TRIPADVISOR HOLD 06/51 0.5
6/30/2051
0.5
316
0.9
RLJ LODGING TRUST
--
0.0
299
0.8
CMS ENERGY CORP SR UNSECURED 144A 05/28 3.375
5/1/2028
3.4
297
0.8
ATI INC SR UNSECURED 06/25 3.5
6/15/2025
3.5
290
0.8
AES CORP/THE
--
0.0
278
0.8
CINEMARK HOLDINGS INC SR UNSECURED 08/25 4.5
8/15/2025
4.5
274
0.8
GRANITE CONSTRUCTION INC SR UNSECURED 11/24 2.75
11/1/2024
2.8
266
0.7
LANTHEUS HOLDINGS INC COMPANY GUAR 144A 12/27 2.625
12/15/2027
2.6
260
0.7
WAYFAIR INC SR UNSECURED 10/25 0.625
10/1/2025
0.6
257
0.7
CRACKER BARREL OLD COUNT SR UNSECURED 06/26 0.625
6/15/2026
0.6
256
0.7
Alteryx Inc.
8/1/2026
1.0
254
0.7
WAYFAIR INC SR UNSECURED 144A 09/27 3.25
9/15/2027
3.3
249
0.7
BEAUTY HEALTH CO/THE SR UNSECURED 144A 10/26 1.25
10/1/2026
1.3
237
0.6
NEXTERA ENERGY INC
--
0.0
235
0.6
SOFI TECHNOLOGIES INC SR UNSECURED 144A 10/26 0.0000
10/15/2026
0.0
233
0.6
NORTHERN OIL AND GAS INC SR UNSECURED 144A 04/29 3.625
4/15/2029
3.6
224
0.6
FORD MTR CO DEL 03/26 0
3/15/2026
0.0
220
0.6
ORMAT TECHNOLOGIES INC SR UNSECURED 144A 07/27 2.5
7/15/2027
2.5
217
0.6
LIBERTY MEDIA CORP LIBERTY MEDIA CORP
8/15/2027
2.3
216
0.6
ENPHASE ENERGY INC SR UNSECURED 03/25 0.25
3/1/2025
0.3
214
0.6
OIL STATES INTL INC SR UNSECURED 04/26 4.75
4/1/2026
4.8
212
0.6
REVANCE THERAPEUTICS INC SR UNSECURED 02/27 1.75
2/15/2027
1.8
212
0.6
POST HOLDINGS INC SR UNSECURED 144A 08/27 2.5
8/15/2027
2.5
203
0.6
NEW MOUNTAIN FINANCE COR SR UNSECURED 144A 10/25 7.5
10/15/2025
7.5
201
0.6
CARNIVAL CORP COMPANY GUAR 10/24 5.75
10/1/2024
5.8
198
0.5
STRIDE INC 09/27 1.125
9/1/2027
1.1
192
0.5
HUBSPOT INC SR UNSECURED 06/25 0.375
6/1/2025
0.4
191
0.5
JOHN BEAN TECHNOLOGIES CORP 05/26 0.25
5/15/2026
0.3
191
0.5
IONIS PHARMACEUTICALS IN SR UNSECURED 04/26 0.00000
4/1/2026
0.0
190
0.5
PORCH GROUP INC SR UNSECURED 144A 09/26 0.75
9/15/2026
0.8
183
0.5
BENTLEY SYSTEMS 07/27 0.375
7/1/2027
0.4
182
0.5
ITRON INC 03/26 0
3/15/2026
0.0
178
0.5
BLACKLINE INC SR 03/26 0
3/15/2026
0.0
170
0.5
NUTANIX INC SR UNSECURED 10/27 0.25
10/1/2027
0.3
170
0.5
SUNNOVA ENERGY INTL INC SR UNSECURED 144A 02/28 2.625
2/15/2028
2.6
164
0.5
SHAKE SHACK INC SR UNSECURED 144A 03/28 0.0000
3/1/2028
0.0
164
0.4
PAR TECHNOLOGY CORP SR UNSECURED 10/27 1.5
10/15/2027
1.5
159
0.4
SUNNOVA ENERGY INTL INC SR UNSECURED 12/26 0.25
12/1/2026
0.3
158
0.4
INSULET CORP 09/26 0.375
9/1/2026
0.4
138
0.4
MICROSTRATEGY INC SR UNSECURED 02/27 0.00000
2/15/2027
0.0
134
0.4
AMERICAN AIRLINES GROUP INC.
7/1/2025
6.5
129
0.4
INTEGER HOLDINGS CORP SR UNSECURED 144A 02/28 2.125
2/15/2028
2.1
118
0.3
BANK OF AMERICA CORP
--
0.0
117
0.3
BLOOM ENERGY CORP SR UNSECURED 144A 06/28 3
6/1/2028
3.0
114
0.3
GEO CORRECTIONS HLDGS COMPANY GUAR 144A 02/26 6.5
2/23/2026
6.5
112
0.3
PROGRESS SOFTWARE CORP SR UNSECURED 04/26 1
4/15/2026
1.0
110
0.3
NRG ENERGY INC COMPANY GUAR 06/48 2.75
6/1/2048
2.8
106
0.3
CHEFS WAREHOUSE THE SR UNSECURED 144A 12/28 2.375
12/15/2028
2.4
105
0.3
VIRGIN GALACTIC HOLDINGS SR UNSECURED 144A 02/27 2.5
2/1/2027
2.5
104
0.3
RAPID7 INC SR NT 05/25 2.25
5/1/2025
2.3
102
0.3
SOUTHERN CO SR UNSECURED 144A 12/25 3.875
12/15/2025
3.9
100
0.3
GREENBRIER COS INC SR UNSECURED 04/28 2.875
4/15/2028
2.9
99
0.3
LIBERTY BROADBAND CORP SR UNSECURED 144A 03/53 3.125
3/31/2053
3.1
98
0.3
DROPBOX INC 03/26 0
3/1/2026
0.0
95
0.3
NCL CORP LTD 02/27 1.125
2/15/2027
1.1
93
0.3
FISKER INC SR UNSECURED 144A 09/26 2.5
9/15/2026
2.5
92
0.3
VERINT SYSTEMS INC 04/26 0.25
4/15/2026
0.3
89
0.2
SPLUNK INC 06/27 1.125
6/15/2027
1.1
87
0.2
COLLEGIUM PHARMA INC SR UNSECURED 144A 02/29 2.875
2/15/2029
2.9
86
0.2
INSMED INC SR UNSECURED 06/28 0.75
6/1/2028
0.8
84
0.2
BLOCK INC SR UNSECURED 05/26 0.00000
5/1/2026
0.0
83
0.2
UNITY SOFTWARE INC SR UNSECURED 11/26 0.00000
11/15/2026
0.0
80
0.2
TELADOC HEALTH INC SR UNSECURED 06/27 1.25
6/1/2027
1.3
80
0.2
Dish Network Corp.
8/15/2026
3.4
51
0.1
SABRE CORP
--
0.0
38
0.1
FLUOR CORP
--
0.0
19
0.1
Total
--
--
36,107
99.0
Cash and Other Assets Less Liabilities
--
--
--
1.0
Total Net Assets
--
--
--
100%
Sector Allocation
Sorry, there is no data available for this fund
Maturity Profile
As of 6/30/2023
Maturity
Convertible Securities Fund %
ICE BofA U.S. Convertible Bond Index %
0-1 yr
1.5
9.3
1-3 yr
48.6
44.7
3-5 yr
38.4
32.7
5-7 yr
4.7
6.9
7-10 yr
0.0
--
10-20 yr
0.0
0.3
20-30 yr
1.4
2.0
Over 30 yr
4.4
4.1
Duration
As of 6/30/2023
Duration
Convertible Securities Fund %
0-1 yr
2.8
1-3 yr
50.3
3-5 yr
35.8
5-7 yr
4.5
7-10 yr
0.0
10-20 yr
4.6
20-30 yr
1.0
Over 30 yr
0.0
Investment Team
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BlueCove Limited (“BlueCove”) is a scientific asset management firm founded in 2018 that brings together leading fixed income industry investment and engineering professionals. BlueCove was founded with the specific purpose of delivering strong investment outcomes for investors by researching and developing state-of-the-art scientific investment processes applicable to fixed income investment management.
Foreside Fund Services, LLC is the Distributor of the Harbor ETFs.
Learn More about BlueCove
Documents
Name
Date
Effective on March 1, 2023, BlueCove Limited became investment subadviser to Harbor Convertible Securities Fund. In connection with this change, the Fund’s investment strategy and risk changed to reflect BlueCove’s approach to managing the Fund’s assets. Please see the Fund's Prospectus for additional information.
From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.
As a result of changing market conditions, total net asset levels, expenses and other factors may change at any time during the current fiscal period and may differ from those shown.
All investments involve risk including the possible loss of principal. Fixed income securities fluctuate in price in response to various factors, including changes in interest rates, changes in market conditions and issuer-specific events, and the value of your investment in the Fund may go down. There is a greater risk that the Funds will lose money because they invest in below- investment grade fixed income securities and unrated securities of similar credit quality (commonly referred to as “high-yield securities” or “junk bonds”). These securities are considered speculative because they have a higher risk of issuer default, are subject to greater price volatility and may be illiquid. The market for convertible securities is less liquid than the market for non-convertible corporate bonds. There are limitations inherent in every quantitative model. The value of securities selected using quantitative analysis can react differently to issuer, political, market, and economic developments than the market as a whole or securities selected using only fundamental analysis. Because the Funds may invest in securities of foreign issuers, an investment in the Funds is subject to special risks in addition to those of U.S. securities. These risks include heightened political and economic risks, greater volatility, currency fluctuations, higher transaction costs, delayed settlement, possible foreign controls on investment, possible sanctions by government bodies of other countries and less stringent investor protection and disclosure standards of foreign markets.
Wtd. Avg. Market Coupon (%): the weighted average coupon rate of the underlying bonds in the Fund.
Wtd. Avg. Maturity (yrs): the weighted average length of time to the repayment of principal for the securities in the Fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.
Wtd. Avg. Duration (yrs): the weight average duration of the underlying bonds or derivative market exposures in the Fund. Duration is a time measure of a bond's interest-rate sensitivity. The longer a fund's duration, the more sensitive the fund is to shifts in interest rates
Wtd. Avg. Convertible Price ($): the weighted average price of the underlying corporate securities in the Fund, usually preferred shares or bonds, that can be converted (exchanged) for a set number of other securities — usually common shares — at a given price.
BlueCove defines "scientific investing" as the structured investment process based on the testing of investment hypotheses using historical data, which utilizes proprietary quantitative models to produce investment recommendations as described in the Fund's Prospectus. BlueCove’s portfolio management team retains discretion with respect to all investment decisions.
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