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Renaissance High-Yield Bond Fund Class A

High Yield Fixed Income

FundGrade D Click for more information on Fundata’s FundGrade

FundGrade D

Click for more information on Fundata’s FundGrade.

NAVPS
(10-11-2024)
$6.39
Change
$0.00 (0.06%)

As at September 30, 2024

As at September 30, 2024

Period
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Legend

Renaissance High-Yield Bond Fund Class A

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Fund Returns

Inception Return (September 23, 1994): 4.73%

Fund Returns
Row Heading Return Annualized Return
1 Mth 3 Mth 6 Mth YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr
Fund 0.88% 3.62% 4.46% 5.61% 11.74% 9.55% 0.69% 2.17% 1.50% 2.22% 1.98% 2.42% 3.40% 2.57%
Benchmark 2.00% 4.50% 6.96% 11.39% 16.92% 13.88% 3.99% 4.21% 4.33% 4.99% 4.94% 4.89% 5.51% 6.30%
Category Average 1.23% 5.02% 5.02% 6.67% 12.65% 9.09% 1.37% 3.08% 2.89% 3.06% 2.83% 3.11% 3.64% 3.00%
Category Rank 270 / 305 214 / 304 256 / 303 267 / 303 246 / 301 167 / 297 242 / 288 232 / 275 251 / 271 222 / 256 202 / 237 182 / 222 154 / 194 154 / 183
Quartile Ranking 4 3 4 4 4 3 4 4 4 4 4 4 4 4

Monthly Return

Monthly Return
Return % Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Fund -0.90% 3.93% 2.72% 0.19% -0.03% 0.94% -0.91% 1.00% 0.72% 1.41% 1.29% 0.88%
Benchmark 1.59% 2.42% 0.89% 1.39% 1.87% 0.83% 0.55% 0.00% 1.79% 2.95% -0.48% 2.00%

Best Monthly Return Since Inception

6.70% (November 2002)

Worst Monthly Return Since Inception

-11.73% (October 2008)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund 2.46% -5.67% 15.12% 4.18% -4.20% 13.63% 0.80% 2.61% -12.02% 9.90%
Benchmark 8.91% 14.93% 10.80% 2.96% 5.36% 7.98% 6.14% 0.50% -6.92% 10.36%
Category Average 2.69% -2.71% 9.58% 5.34% -2.63% 9.49% 5.35% 3.21% -10.00% 8.59%
Quartile Ranking 3 4 1 3 4 1 4 4 4 2
Category Rank 122/ 172 160/ 184 49/ 200 156/ 228 192/ 239 16/ 264 230/ 274 212/ 279 251/ 288 114/ 297

Best Calendar Return (Last 10 years)

15.12% (2016)

Worst Calendar Return (Last 10 years)

-12.02% (2022)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 88.04
Canadian Corporate Bonds 7.62
Cash and Equivalents 3.54
Canadian Government Bonds 0.94
Other -0.14

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 96.61
Cash and Cash Equivalent 3.54
Other -0.15

Geographic Allocation

Geographic Allocation
Name Percent
North America 99.91
Europe 0.24
Other -0.15

Top Holdings

Top Holdings
Name Percent
Canada Government 10-Oct-2024 1.60
Strathcona Resources Ltd 6.88% 01-Aug-2026 0.94
Iron Mountain Inc 5.25% 15-Jul-2030 0.88
DaVita Inc 4.63% 01-Jun-2030 0.83
Prime Sec Srvcs Borrower LLC 6.25% 15-Jan-2028 0.81
NOVA Chemicals Corp 5.25% 01-Jun-2027 0.79
Berry Global Inc 5.63% 15-Jul-2027 0.79
Hess Midstream Operations LP 5.63% 15-Feb-2026 0.78
Rogers Communications Inc 5.00% 17-Dec-2081 0.77
Novelis Corp 4.75% 30-Jan-2030 0.76

Equity Style

Equity style data not available

Fixed Income Style

Average Duration: S. Average Credit Quality: L.
Period: 

Risk vs Return (3 Yr)

Renaissance High-Yield Bond Fund Class A

Median

Other - High Yield Fixed Income

3 Yr Annualized

Standard Deviation 7.55% 8.18% 7.00%
Beta 0.76% 0.88% 0.51%
Alpha -0.02% -0.02% 0.00%
Rsquared 0.50% 0.61% 0.26%
Sharpe -0.32% -0.05% 0.18%
Sortino -0.35% -0.17% -0.04%
Treynor -0.03% 0.00% 0.02%
Tax Efficiency - - 32.04%
Volatility Volatility rating is 3 on a scale of 1 to 10 Volatility rating is 3 on a scale of 1 to 10 Volatility rating is 3 on a scale of 1 to 10

Risk Rating

Rating 3 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 4.77% 7.55% 8.18% 7.00%
Beta 0.25% 0.76% 0.88% 0.51%
Alpha 0.07% -0.02% -0.02% 0.00%
Rsquared 0.03% 0.50% 0.61% 0.26%
Sharpe 1.37% -0.32% -0.05% 0.18%
Sortino 4.97% -0.35% -0.17% -0.04%
Treynor 0.26% -0.03% 0.00% 0.02%
Tax Efficiency 83.21% - - 32.04%

Fund Details

Start Date September 23, 1994
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $1,206

Fund Codes

FundServ Code Load Code Sales Status
ATL667
ATL823
ATL908

Investment Objectives

The Fund seeks to generate a high level of current income, primarily through investment in high-yield corporate bonds from issuers around the world and, where consistent with this objective, the Fund will also seek capital appreciation. We will not change the Fund’s fundamental investment objectives without the consent of unitholders by a majority of votes cast at a meeting of unitholders.

Investment Strategy

To achieve its investment objectives, the Fund: invests primarily in high yield corporate bonds from around the world, but may also invest in other investments such as preferred shares, common shares, or income trusts; may invest in units of exchange-traded funds; may invest in Canadian corporate bonds denominated in foreign currencies; may use derivatives such as options, futures, forward contracts, swaps, and other similar instruments.

Portfolio Manager(s)

Name Start Date
Patrick O'Toole 12-16-2020
Nicholas Leach 12-16-2020
John W. Braive 12-16-2020

Management and Organization

Fund Manager CIBC Asset Management Inc.
Advisor CIBC Asset Management Inc.
Custodian CIBC Mellon Trust Company
Registrar CIBC Asset Management Inc.
Distributor -
Auditor Ernst & Young LLP, Chartered Accountants

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 500
PAC Subsequent 50
SWP Allowed Yes
SWP Min Balance 10,000
SWP Min Withdrawal 50

Fees

MER 1.39%
Management Fee 1.20%
Load Choice of Front or No Load
FE Max 5.00%
DSC Max -
Trailer Fee Max (FE) 0.50%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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