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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
(04-22-2024)
$6.21
Change
$0.02 (0.25%)

As at March 31, 2024

As at March 31, 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): 4.66%

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 0.94% 1.10% 6.97% 1.10% 7.21% 1.27% -0.01% 3.68% 1.40% 1.82% 1.67% 3.20% 2.18% 2.15%
Benchmark 0.83% 4.14% 9.32% 4.14% 11.08% 7.29% 2.94% 4.89% 3.41% 3.99% 3.87% 5.46% 5.00% 5.66%
Category Average 1.04% 7.26% 7.26% 1.57% 7.54% 1.83% 0.64% 4.84% 2.38% 2.44% 2.46% 3.43% 2.65% 2.59%
Category Rank 205 / 300 244 / 300 223 / 298 244 / 300 200 / 294 230 / 288 227 / 281 242 / 274 228 / 266 197 / 242 191 / 229 154 / 201 152 / 190 143 / 173
Quartile Ranking 3 4 3 4 3 4 4 4 4 4 4 4 4 4

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 0.59% -1.03% 0.73% 0.80% 0.21% -1.05% -0.90% 3.93% 2.72% 0.19% -0.03% 0.94%
Benchmark 1.23% -1.13% -0.73% 1.08% 2.51% -1.32% 1.59% 2.42% 0.89% 1.39% 1.87% 0.83%

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 118/ 172 159/ 183 47/ 200 155/ 228 191/ 240 15/ 265 229/ 273 210/ 275 247/ 285 107/ 294

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 89.53
Canadian Corporate Bonds 7.38
Cash and Equivalents 2.07
Canadian Government Bonds 1.05
Other -0.03

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 97.97
Cash and Cash Equivalent 2.08
Other -0.05

Geographic Allocation

Geographic Allocation
Name Percent
North America 99.96
Europe 0.03
Other 0.01

Top Holdings

Top Holdings
Name Percent
Hess Midstream Operations LP 5.63% 15-Feb-2026 1.14
Berry Global Inc 5.63% 15-Jul-2027 1.12
US DOLLAR 1.11
Strathcona Resources Ltd 6.88% 01-Aug-2026 0.97
Cinemark USA Inc 5.25% 15-Jul-2028 0.93
Prime Sec Srvcs Borrower LLC 6.25% 15-Jan-2028 0.93
Iron Mountain Inc 5.25% 15-Jul-2030 0.93
NOVA Chemicals Corp 5.25% 01-Jun-2027 0.88
DaVita Inc 4.63% 01-Jun-2030 0.87
Frontier Comms Holdings LLC 6.75% 01-May-2029 0.86

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 7.44% 8.27% 7.02%
Beta 0.75% 0.90% 0.51%
Alpha -0.02% -0.02% -0.01%
Rsquared 0.50% 0.60% 0.26%
Sharpe -0.32% -0.02% 0.14%
Sortino -0.47% -0.19% -0.11%
Treynor -0.03% 0.00% 0.02%
Tax Efficiency - - 19.88%
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 5.13% 7.44% 8.27% 7.02%
Beta 0.51% 0.75% 0.90% 0.51%
Alpha 0.02% -0.02% -0.02% -0.01%
Rsquared 0.20% 0.50% 0.60% 0.26%
Sharpe 0.46% -0.32% -0.02% 0.14%
Sortino 1.88% -0.47% -0.19% -0.11%
Treynor 0.05% -0.03% 0.00% 0.02%
Tax Efficiency 73.51% - - 19.88%

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) $998

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 Front Fee Only
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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