Fund Evaluator:
Aristotle Strategic Income I-2 (PLSFX)
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Best Performing in Multisector Bond Over the Last Year
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| 6.6% | Russell Inv Opportunistic Credit Y (RGCYX) |
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Fund Details
Aristotle Strategic Income I-2 Overview
Aristotle Strategic Income I-2 (PLSFX) is an actively managed Taxable Bond Multisector Bond fund. Aristotle Funds launched the fund in 2012.
The investment seeks a high level of current income; it may also seek capital appreciation. The fund invests principally in income producing debt instruments. Its allocations to non-investment grade debt instruments and investment grade debt instruments will change based on the sub-adviser’s view of market conditions and, as a result, may range from up to 70% of the fund’s assets in non-investment grade debt instruments and floating rate loans to up to 65% of the fund’s assets in investment grade debt instruments, including corporate debt securities, asset-backed securities, mortgage-related securities, U.S. government securities and agency securities.
About Aristotle Strategic Income I-2 (PLSFX)
There are 4 members of the management team with an average tenure of 8.84 years: Brian Robertson (2011), David Weismiller (2016), Michael Marzouk (2016), Jeff Klingelhofer (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Aristotle Strategic Income I-2 has 469 securities in its portfolio. The top 10 holdings constitute 8.1% 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.
Aristotle Strategic Income I-2 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Aristotle Strategic Income I-2 has 17.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 1.6% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.9% (79.5% domestic bond, 17.4% foreign bond and 0.1% convertible bond). Aristotle Strategic Income I-2 has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is above the $1 billion average for the Multisector 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.
PLSFX 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 Aristotle Strategic Income I-2 expense ratio is above average compared to funds in the Multisector Bond category. Aristotle Strategic Income I-2 has an expense ratio of 0.69%, which is 27% 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. Aristotle Strategic Income I-2 has a portfolio turnover rate of 70%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Multisector Bond category.
Recently, in the month of June 2026, Aristotle Strategic Income I-2 returned -0.1%, which earned it a grade of F, as the Multisector 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.
Aristotle Strategic Income I-2 has a trailing yield of 5.50%, which is above the 5.25% category average. The fund normally distributes its income monthly 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.
Aristotle Strategic Income I-2 Grades
Year to date, the fund has returned 1.2%, 0.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 4.6% over the past year (grade of D), 6.8% over the past three years (grade of C) and 3.1% per year over the past five years (grade of B) and 4.8% per year over the past 10 years (grade of A).
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PLSFX 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 |
|
| PLSFX Return (NAV) | -0.1% | 1.7% | 4.6% | 6.8% | 3.1% | 4.8% |
| PLSFX Grade | F | C | D | C | B | A |
| +/- Category | -0.3% | -0.2% | -0.7% | -0.1% | 0.5% | 1.1% |
| Multisector Bond Avg | 0.2% | 1.9% | 5.3% | 6.9% | 2.6% | 3.7% |
| PLSFX Tax Cost Ratio | na | na | 2.2% | 2.3% | 2.1% | 1.9% |
PLSFX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PLSFX Return (NAV) | 1.2% | 7.2% | 5.9% | 11.2% | -9.6% | 3.4% | 9.8% | 13.6% | -2.8% | 6.9% | 11.2% |
| PLSFX Grade | D | D | C | A | B | B | A | A | D | B | A |
| +/- Category | -0.4% | -0.9% | 0.2% | 2.8% | 0.5% | 1.2% | 3.4% | 3.3% | -0.9% | 0.3% | 3.7% |
| Multisector Bond Avg | 1.6% | 8.1% | 5.7% | 8.4% | -10.1% | 2.2% | 6.4% | 10.3% | -1.9% | 6.6% | 7.5% |
| Risk Measures | |
| Standard Deviation: | 4.1% |
| Total Risk Index: | 0.34 - Low |
| Category Risk Index: | 0.93 - Below Average |
| Category Risk Grade: | B (27% Rank) |
| Beta: | 0.66 |
| R-Squared: | 81% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 5.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $4079 Mil |
| Fund Total Assets: | $3,157 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 70% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 14.5 years | |||
| Average Tenure: 8.8 years | |||
| Managers (Year): Robertson Brian (2011), Weismiller David (2016), Marzouk Michael (2016), Klingelhofer Jeff (2026) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 469 |
| % in Top 10 Holdings: | 8.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 17.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 1.6% |
| Domestic Bond: | 79.5% |
| Foreign Bond: | 17.4% |
| Convertible Bond: | 0.1% |
| Other: | 0.0% |
| Cash: | 1.4% |
Purchase Information
| Fund Family: | Aristotle Funds |
| Phone Number: | 844-274-7885 |
| Website: |
| Status: | Open |
| Inception Date: | June 29, 2012 |
| Min. Initial Purchase: | $ 0 |
| 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: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.69% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.95% |
| Share Class: | Aristotle Strategic Income I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
