- Performance & Expenses
- Morningstar Information
- Trading Restrictions
The investment seeks total return.
Principal Investment Strategies†
Under normal market conditions, the fund invests at least 80% of its net assets, plus borrowings for investment purposes, in a diversified portfolio of below investment-grade, high-risk, corporate bonds that are rated below Baa3 by Moody's or below BBB- by S&P or Fitch, commonly referred to as "high yield" or "junk" bonds. It may invest up to 20% of its net assets in bank loans and up to 10% of its total assets in equity securities, including common stock. Additionally, the fund may invest a portion of its assets in credit default swaps in which the fund may be either the buyer or the seller.
Principal Investment Risks
There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Risk Glossary for additional information about the Fund’s risks.
Performance & Expenses
|Fund/Benchmark Name||Qtr||YTD||1-Yr||3-Yr||5-Yr||10-Yr||Since Inception|
|Harbor High-Yield Bond Inva||2.38%||2.38%||-4.48%||1.18%||3.46%||5.25%||6.38%|
|BofA ML US High Yield Master II Indexa,b||3.25%||3.25%||-3.99%||1.75%||4.71%||6.85%||N/A|
|Morningstar High Yield Bonda,c||2.13%||2.13%||-4.17%||1.06%||3.84%||5.55%||N/A|
Fund past performance, as shown, is no guarantee of how the fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.
Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.
|Total annual fund operating expensesa||1.08%|
|Fee waiver and/or expense reimbursement||0.04%|
A contractual expense waiver exists for this fund and will expire on 02-28-2017.
a. Returns and/or expenses provided by Morningstar, Inc. Copyright © 2016. 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. ICMA-RC does not independently verify Morningstar data.
b. The BofA ML US High Yield Master II Index is a broad-based index consisting of all U.S.-dollar-denominated high-yield bonds with a minimum outstanding amount of $100 million and with a maturity of greater than one year. The quality rating is less than BBB.
c. The Morningstar Category Average is the equal-weighted average return of all funds per category, as identified by Morningstar, Inc.
|Record Date||Ex/Payable Date||Income/Capital Gains Paid Per Share|
|Mar 30, 2016||Mar 30, 2016||$0.103050000|
|Dec 17, 2015||Dec 17, 2015||$0.147200000|
|Sep 24, 2015||Sep 24, 2015||$0.118610000|
|Jun 29, 2015||Jun 29, 2015||$0.123990000|
|Mar 30, 2015||Mar 30, 2015||$0.128000000|
|Dec 18, 2014||Dec 18, 2014||$0.350270000|
|Sep 25, 2014||Sep 25, 2014||$0.122580000|
|Jun 26, 2014||Jun 26, 2014||$0.142090000|
|Mar 27, 2014||Mar 27, 2014||$0.114910000|
|Dec 17, 2013||Dec 17, 2013||$0.465810000|
|Sep 26, 2013||Sep 26, 2013||$0.133280000|
|Jun 27, 2013||Jun 27, 2013||$0.137560000|
|Mar 28, 2013||Mar 28, 2013||$0.112340000|
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, fee waivers, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each 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 fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For funds with loads, the Morningstar rating on a load-waived basis is provided, when available. Load-waived ratings do not include any front- or back-end sales loads and are intended for investors that have access to such purchase terms. Funds with loads are waived for plans administered by ICMA-RC. Past performance is no guarantee of future results.
|Type of Asset||Percent|
Due to rounding, percentages shown may not add up to 100%.
Due to rounding, percentages shown may not add up to 100%.
|Cash & Equivalents||6.7%|
Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.
Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.
|Reynolds Grp Issuer 5.75%||1.3%|
|William Morris Endeavor Ent Term Loan B||1.0%|
|Nrg Engy 6.25%||1.0%|
|Hughes Satellite Sys 7.625%||1.0%|
|Sirius Xm Radio 144A 6%||0.9%|
|Cequel Comm Escrow I /Cap 144A 6.375%||0.9%|
|Quicken Lns 144A 0.12%||0.8%|
|Sinclair Tv Grp 5.375%||0.8%|
|Upcb Fin Iv 144A 0.01%||0.8%|
|Alliance Data Sys 144A 6.375%||0.8%|
Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing email@example.com, or visiting www.icmarc.org.
The source for this information is Morningstar, Inc. Copyright © 2016 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. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.
Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.