Fund Evaluator:
Loomis Sayles Instl High Income (LSHIX)
Follow This Fund
Best Performing in High Yield Bond Over the Last Year
| 15.7% | Fidelity Capital & Income (FAGIX) |
| 14.3% | Fidelity Advisor Capital & Income Z (FIQTX) |
| 10.0% | Northeast Investors Trust (NTHEX) |
| 8.5% | American Beacon SiM High Yld Opps Inv (SHYPX) |
| 8.5% | Fidelity Advisor High Income Z (FGUMX) |
Fund Details
Loomis Sayles Instl High Income Overview
Loomis Sayles Instl High Income (LSHIX) is an actively managed Taxable Bond High Yield Bond fund. Loomis Sayles Funds launched the fund in 1996.
The investment seeks high total investment return through a combination of current income and capital appreciation. The fund will invest primarily in below investment-grade fixed-income securities (commonly known as "junk bonds") and other securities that are expected to produce a relatively high level of income (including income-producing preferred stocks and common stocks). The fund's fixed-income securities investments may include unrated securities (securities that are not rated by a rating agency) if Loomis Sayles determines that the securities are of comparable quality to rated securities that the fund may purchase.
About Loomis Sayles Instl High Income (LSHIX)
There are 5 members of the management team with an average tenure of 5.79 years: Brian Kennedy (2021), Peter Sheehan (2023), Chris Romanelli (2026), Eric Williams (2025), Matthew Eagan (2007). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Corporate High Yield TR USD index with a weighting of 100%. Loomis Sayles Instl High Income has 416 securities in its portfolio. The top 10 holdings constitute 22.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Loomis Sayles Instl High Income is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Loomis Sayles Instl High Income has 9.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.7%. There is 0.2% allocated to foreign stock, and 4.9% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 84.9% (75.6% domestic bond, 9.3% foreign bond and 2.5% convertible bond). Loomis Sayles Instl High Income has 5.9% of the portfolio in cash.
Assets Under Management
The fund has $256 million in total assets, which is below the $545 million average for the High Yield Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
LSHIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Loomis Sayles Instl High Income expense ratio is above average compared to funds in the High Yield Bond category. Loomis Sayles Instl High Income has an expense ratio of 0.73%, which is 21% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Loomis Sayles Instl High Income has a portfolio turnover rate of 110%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 71% for the High Yield Bond category.
Recently, in the month of June 2026, Loomis Sayles Instl High Income returned 0.3%, which earned it a grade of B, as the High Yield Bond category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Loomis Sayles Instl High Income has a trailing yield of 5.64%, which is below the 6.26% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Loomis Sayles Instl High Income Grades
Year to date, the fund has returned 2.3%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 6.9% over the past year (grade of A), 9.3% over the past three years (grade of A) and 3.8% per year over the past five years (grade of C) and 5.2% per year over the past 10 years (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Loomis Sayles Instl High Income, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
LSHIX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| LSHIX Return (NAV) | 0.3% | 2.6% | 6.9% | 9.3% | 3.8% | 5.2% |
| LSHIX Grade | B | B | A | A | C | B |
| +/- Category | 0.1% | 0.2% | 1.2% | 1.2% | 0.0% | 0.2% |
| High Yield Bond Avg | 0.2% | 2.4% | 5.7% | 8.1% | 3.8% | 5.1% |
| LSHIX Tax Cost Ratio | na | na | 2.2% | 2.5% | 2.4% | 2.4% |
LSHIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LSHIX Return (NAV) | 2.3% | 9.2% | 9.4% | 10.0% | -11.7% | 8.2% | 3.5% | 10.5% | -3.5% | 8.4% | 19.0% |
| LSHIX Grade | B | A | A | F | D | A | F | F | D | A | A |
| +/- Category | 0.3% | 1.4% | 1.8% | -1.9% | -1.6% | 3.1% | -1.8% | -2.5% | -0.9% | 1.7% | 5.5% |
| High Yield Bond Avg | 1.9% | 7.9% | 7.6% | 11.9% | -10.0% | 5.1% | 5.3% | 13.0% | -2.7% | 6.7% | 13.4% |
| Risk Measures | |
| Standard Deviation: | 4.9% |
| Total Risk Index: | 0.40 - Low |
| Category Risk Index: | 1.21 - High |
| Category Risk Grade: | F (94% Rank) |
| Beta: | 0.70 |
| R-Squared: | 64% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 5.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $256 Mil |
| Fund Total Assets: | $ 257 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 110% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 19.4 years | |||
| Average Tenure: 5.8 years | |||
| Managers (Year): Eagan Matthew (2007), Kennedy Brian (2021), Sheehan Peter (2023), Williams Eric (2025), Romanelli Chris (2026) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 416 |
| % in Top 10 Holdings: | 22.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 9.4% |
Portfolio Allocation |
|
| Domestic Stock: | 1.7% |
| Foreign Stock: | 0.2% |
| Preferred Stock: | 4.9% |
| Domestic Bond: | 75.6% |
| Foreign Bond: | 9.3% |
| Convertible Bond: | 2.5% |
| Other: | 0.0% |
| Cash: | 5.9% |
Purchase Information
| Fund Family: | Loomis Sayles Funds |
| Phone Number: | 800-633-3330 |
| Website: | www.loomissayles.com |
| Status: | Open |
| Inception Date: | June 5, 1996 |
| Min. Initial Purchase: | $3,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.73% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.92% |
| Share Class: | Loomis Sayles Instl High Income |
| Min. Subsequent Purchase: | $50,000 |
| Min. Subsequent IRA Purchase: | $ 0 |
