High Yield Trust

ticker F H Y L XMutual FundsHigh Yield

Overview

 
AT A GLANCE
Portfolio
Assets
March 31 2019
$767.5 M
YTD Return NAV
April 22 2019
9.45%
Fixed Income
Overall
Morningstar Rating ™
March 31 2019
4 out of 5 stars"
Gross
Expenses [†]
0.74%
Net
Expenses [†]
0.72%
STRATEGY

Seeks high current income by investing primarily in a professionally managed, diversified portfolio of fixed-income securities rated below investment grade.

KEY FACTS
Key Facts - Part 1
Symbol ticker F H Y L X
Benchmark Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Index
Key Facts - Part 2
Fund Number(s)
430
CUSIP 3 1 4 1 9 7 8 0 7
Performance Incp. Date August 23 1984
MORNINGSTAR CATEGORY & STYLE
Category
High Yield Bond
Style
Low Moderate
INVESTMENT GOALS Retirement
Growth
Income
MANAGERS
Mark Durbiano, CFA
Senior Vice President
Senior Portfolio Manager
Head of Domestic High Yield Group
Head of Bond Sector Pod/ Committee

joined Federated
37 years of experience
Gene Neavin, CFA
Vice President
Senior Investment Analyst/ Portfolio Manager

joined Federated
18 years of experience

Performance

 

Characteristics

 

Commentary

 

Documents

 

Distributions and Taxes

 
DISCLOSURES

† The funds expense ratio is from the most recent prospectus. The expense ratio may reflect voluntary fee waivers and/or expense reimbursements determined by the funds Advisor and its affiliates. The voluntary waivers and/or reimbursements, if applicable, are in effect up to but not including the later of 05/01/2019 or the date of the funds next effective prospectus.

The fund's R6 Shares commenced operations on April 27, 2017. For the periods prior to the commencement of operations of the R6 Shares, the performance information shown is for the funds SS Shares adjusted to reflect the expenses of R6 Shares for each year for which the fund's R6 class expenses would have exceeded the actual expenses paid by the fund's SS Shares. The performance information has also been adjusted to reflect any applicable differences between the sales loads and charges imposed on the purchase and redemption of R6 Shares, as well as the removal of any voluntary waivers/reimbursements of fund expenses that may have occurred during the period prior to the commencement of operations of the R6 Shares.

Total returns for periods of less than one year are cumulative.

Total return may have been lower in the absence of temporary expense waivers or reimbursements.

Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.

High-yield, lower-rated securities generally entail greater market, credit/default and liquidity risks and may be more volatile than investment-grade securities.

After-tax returns are calculated using a standard set of assumptions. Actual after-tax returns depend on each investor’s personal tax situation, and are likely to differ from those shown. The stated returns assume the highest historical federal income and capital gains tax rates, but do not reflect the effect of any applicable state and local taxes. Return After Taxes on Distributions assumes a continued investment in the fund and shows the effect of taxes on fund distributions. Return After Taxes on Distribution and Sale of Fund Shares assumes all shares were redeemed at the end of each measurement period, and shows the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on fund distributions. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA, 401(k) plans. The after-tax average annual total returns are based on the 37% tax bracket and include the 3.8% tax on net investment income.

Mutual funds are subject to risks and fluctuate in value.

Product classifications noted at the top are Federated's internal classifications.

The fund may invest in Federated Portfolios that are not available to the public and provide for more effective diversification than is available through the purchase of individual securities. Where applicable, the fund holdings reflect exposure to underlying securities held by the portfolios.

The ratings agencies that provided the quality breakdown ratings are Standard and Poor's, Moody's and Fitch. When ratings vary, the highest rating is used. Credit ratings of A or better are considered to be high credit quality; credit ratings of BBB are good credit quality, and the lowest category of investment grade; credit ratings BB and below are lower-rated securities ("junk bonds"); and credit ratings of CCC or below have high default risk. The credit quality breakdown does not give effect to the impact of any credit derivative investments made by the fund.

Holdings are high yield debt securities.

The holdings percentages are based on net assets at the close of business on the date above, and may not necessarily reflect adjustments that are routinely made when presenting net assets for formal financial statement purposes. Because this is a managed portfolio, the investment mix will change.

Current and future portfolio holdings are subject to risk.

Investors should carefully consider the fund's investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, contact us or view the prospectus provided on this website. Please carefully read the summary prospectus or prospectus before investing.

Federated Securities Corp., Distributor

Not FDIC Insured
May Lose Value
No Bank Guarantee

1527606572