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Objective
Seeks to provide high current income and long-term total return.
Overview
A fund that invests in high-yield bonds, by combining fundamental research, industry allocation, and macroeconomic trends.
Portfolio Management
10
YRS
MANAGING THIS FUND
28
YRS
AT WELLINGTON MANAGEMENT
33
YRS
EXPERIENCE IN THIS INDUSTRY
Senior Managing Director
Convertible Bond Portfolio Manager and Fixed Income Credit Analyst
0
YRS
MANAGING THIS FUND
12
YRS
AT WELLINGTON MANAGEMENT
20
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio managers are supported by the full resources of Wellington.
Performance
PERFORMANCE %
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
SI = Since Inception.
Fund Inception: 09/30/1998
Share Class Inception: 5/31/07.
Class I-share performance prior to its inception date reflects Class A-share performance (excluding sales charges) and operating expenses. SI performance is calculated from 9/30/98.
Characteristics
FUND STATS
| Dividend Frequency | Monthly |
| # of Holdings | 309 |
Holdings Characteristics
| Effective Duration | 3.96 yrs |
Credit Exposure (%)
| Aaa/AAA | 0 |
| Aa/AA | 0 |
| A | 0 |
| Baa/BBB | 6 |
| Ba/BB | 43 |
| B | 38 |
| Caa/CCC or lower | 8 |
| Not Rated | 1 |
| Cash & Cash Offsets | 3 |
Credit exposure is the credit ratings for the underlying securities of the Fund as provided by Standard and Poor's (S&P), Moody's Investors Service, or Fitch and typically range from AAA/Aaa (highest) to C/D (lowest). If S&P, Moody's, and Fitch assign different ratings, the median rating is used. If only two agencies assign ratings, the lower rating is used. Securities that are not rated by any of the three agencies are listed as "Not Rated." Ratings do not apply to the Fund itself or to Fund shares. Ratings may change.
Top Ten Issuers (%)
Yields (%)
(as of 7/31/22)
| Distribution Yield at NAV | 4.65 |
| 30-Day SEC Yield | 6.52 |
|
Unsubsidized 30-Day SEC Yield
|
6.50 |
Sector Exposure (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 3/31/22 | 6/30/22 | 6/30/22 | -4 0 4 | ||||
| Technology | 9 | 11 | 7 | ||||
| Consumer Cyclical | 23 | 23 | 21 | ||||
| Cash, Cash Equivalents and Cash Offsets | 2 | 3 | 1 | ||||
| Financial Institutions | 10 | 11 | 10 | ||||
| Consumer Non-Cyclical | 12 | 11 | 11 | ||||
| Capital Goods | 10 | 9 | 9 | ||||
| Other | 4 | 1 | 1 | ||||
| Communications | 15 | 15 | 17 | ||||
| Energy | 12 | 11 | 13 | ||||
| Utilities | 0 | 1 | 3 | ||||
| Basic Industry | 2 | 2 | 5 | ||||
| Transportation | 0 | 0 | 3 | ||||
distributions and capital gains
| Distribution Date | Distribution NAV | ordinary income | short term capital gains | long term capital gains | total distribution |
|---|---|---|---|---|---|
| 8/1/2022 | 6.83 | $0.0265 | $0.0000 | $0.0000 | $0.0265 |
| 7/1/2022 | 6.44 | $0.0258 | $0.0000 | $0.0000 | $0.0258 |
| 6/1/2022 | 6.93 | $0.0251 | $0.0000 | $0.0000 | $0.0251 |
| 5/2/2022 | 6.92 | $0.0244 | $0.0000 | $0.0000 | $0.0244 |
| 4/1/2022 | 7.23 | $0.0237 | $0.0000 | $0.0000 | $0.0237 |
| 3/1/2022 | 7.29 | $0.0241 | $0.0000 | $0.0000 | $0.0241 |
| 2/1/2022 | 7.39 | $0.0235 | $0.0000 | $0.0000 | $0.0235 |
| 1/3/2022 | 7.63 | $0.0144 | $0.0000 | $0.0000 | $0.0144 |
| 1/3/2022 | 7.63 | $0.0240 | $0.0000 | $0.0000 | $0.0240 |
| 12/20/2021 | 7.60 | $0.0000 | $0.0000 | $0.0000 | $0.0000 |
| 12/1/2021 | 7.53 | $0.0245 | $0.0000 | $0.0000 | $0.0245 |
| 11/1/2021 | 7.63 | $0.0245 | $0.0000 | $0.0000 | $0.0245 |
| 10/1/2021 | 7.68 | $0.0247 | $0.0000 | $0.0000 | $0.0247 |
| 9/1/2021 | 7.71 | $0.0251 | $0.0000 | $0.0000 | $0.0251 |
Past distributions are not indicative of future distributions.
Insights
Fund Literature
This Fund Fact Sheet summarizes the Fund's investment approach, portfolio statistics, top holdings, and current performance.
06/30/2022 - PDF (545 KB)
Historical view of rising interest rates, and impact on respective Morningstar Categories.
Current quarterly commentary from our sub-adviser, Wellington Management, which includes a performance review, attribution, statistics, and positioning and outlook for the Fund.
PDF (147 KB)
A summary of a fund's full-length prospectus that provides key information potential investors should consider before making an investment decision.
06/30/2022 - PDF (393 KB)
This module provides an overview of Wellington Management Company's Fixed Income resources and capabilities
06/30/2022 - PDF (410 KB)
This Pitchbook reviews the Fund's investment approach, investment team, investment process, and general portfolio parameters.
PDF (2 KB)
An unaudited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
PDF (13 KB)
A legal document that discloses essential information about a fund, including investment objectives, risks, fees, expenses, fund manager background and other information.
PDF (2 KB)
An audited financial report, which includes a fund's financial statements. These reports are intended for shareholders and others who have reviewed the fund's prospectus.
Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Fixed income security risks include credit, liquidity, call, duration, event and interest-rate risk. As interest rates rise, bond prices generally fall. • Investments in high-yield ("junk") bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political, economic and regulatory developments. • Integration of environmental, social, and/or governance (ESG) characteristics into the investment process may not work as intended. • Derivatives are generally more volatile and sensitive to changes in market or economic conditions than other securities; their risks include currency, leverage, liquidity, index, pricing, regulatory and counterparty risk. • Restricted securities may be more difficult to sell and price than other securities.
BLOOMBERG® and any Bloomberg Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited ("BISL"), the administrator of the indices (collectively, "Bloomberg") and have been licensed for use for certain purposes by Hartford Funds. Bloomberg is not affiliated with Hartford Funds, and Bloomberg does not approve, endorse, review, or recommend any Hartford Funds product. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Hartford Fund products.
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