Fund Evaluator:
Shenkman Capital Floating Rt Hi Inc F (SFHFX)
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Best Performing in Bank Loan Over the Last Year
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Fund Details
Shenkman Capital Floating Rt Hi Inc F Overview
Shenkman Capital Floating Rt Hi Inc F (SFHFX) is an actively managed Taxable Bond Bank Loan fund. Shenkman Funds launched the fund in 2017.
The investment seeks to generate a high level of current income. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of senior secured and unsecured floating rate bank loans and other floating rate instruments. The loans and other instruments in which the fund invests include bank loans to corporate borrowers, traditional corporate bonds, notes, debentures, zero-coupon bonds, collateralized loan obligations and other corporate debt securities, and obligations of the U.S. government and government-sponsored entities.
About Shenkman Capital Floating Rt Hi Inc F (SFHFX)
There are 5 members of the management team with an average tenure of 8.90 years: David Lerner (2014), Justin Slatky (2016), Jeffrey Gallo (2015), Jordan Barrow (2022), Brian Goldberg (2018). 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 Morningstar LSTA US LL TR USD index with a weighting of 100%. Shenkman Capital Floating Rt Hi Inc F has 410 securities in its portfolio. The top 10 holdings constitute 7.9% 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.
Shenkman Capital Floating Rt Hi Inc F is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Shenkman Capital Floating Rt Hi Inc F has 10.7% 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 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 100.0% (89.3% domestic bond, 10.7% foreign bond and 0.0% convertible bond). Shenkman Capital Floating Rt Hi Inc F has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $6 million in total assets, which is below the $344 million average for the Bank Loan 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.
SFHFX 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 Shenkman Capital Floating Rt Hi Inc F expense ratio is above average compared to funds in the Bank Loan category. Shenkman Capital Floating Rt Hi Inc F has an expense ratio of 0.66%, which is 37% lower than its category average, making the fund expense ratio grade a A. 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. Shenkman Capital Floating Rt Hi Inc F has a portfolio turnover rate of 83%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Bank Loan category.
Recently, in the month of July 2026, Shenkman Capital Floating Rt Hi Inc F returned 0.7%, which earned it a grade of B, as the Bank Loan category had an average return of 0.6%. 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.
Shenkman Capital Floating Rt Hi Inc F has a trailing yield of 7.55%, which is above the 6.73% category average. The fund normally distributes its income monthly.
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.
Shenkman Capital Floating Rt Hi Inc F 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 4.1% over the past year (grade of B), 6.8% over the past three years (grade of C) and 5.5% per year over the past five years (grade of B) and 4.8% per year over the past 10 years (grade of B).
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SFHFX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SFHFX Return (NAV) | 0.7% | 2.0% | 4.1% | 6.8% | 5.5% | 4.8% |
| SFHFX Grade | B | A | B | C | B | B |
| +/- Category | 0.2% | 0.8% | 0.3% | 0.2% | 0.4% | 0.3% |
| Bank Loan Avg | 0.6% | 1.2% | 3.8% | 6.6% | 5.2% | 4.4% |
| SFHFX Tax Cost Ratio | na | na | 3.0% | 3.1% | 2.8% | na |
SFHFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SFHFX Return (NAV) | 2.3% | 5.7% | 8.1% | 11.5% | -0.9% | 3.9% | 1.9% | 8.7% | 0.5% | 3.5% | 8.9% |
| SFHFX Grade | B | B | C | D | A | D | B | A | A | D | C |
| +/- Category | 0.3% | 0.6% | -0.1% | -0.6% | 1.4% | -0.8% | 0.6% | 1.1% | 0.9% | -0.2% | -0.4% |
| Bank Loan Avg | 1.9% | 5.1% | 8.2% | 12.1% | -2.3% | 4.7% | 1.3% | 7.6% | -0.4% | 3.7% | 9.2% |
| Risk Measures | |
| Standard Deviation: | 1.9% |
| Total Risk Index: | 0.16 - Low |
| Category Risk Index: | 0.96 - Average |
| Category Risk Grade: | C (47% Rank) |
| Beta: | 0.02 |
| R-Squared: | 0% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 7.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $276 Mil |
| Fund Total Assets: | $ 6 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 83% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 11.8 years | |||
| Average Tenure: 8.9 years | |||
| Managers (Year): Lerner David (2014), Gallo Jeffrey (2015), Slatky Justin (2016), Goldberg Brian (2018), Barrow Jordan (2022) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 410 |
| % in Top 10 Holdings: | 7.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 10.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 89.3% |
| Foreign Bond: | 10.7% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Fund Family: | Shenkman Funds |
| Phone Number: | 855-743-6562 |
| Website: | www.shenkmancapital.com/funds |
| Status: | Open |
| Inception Date: | March 1, 2017 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 1.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.66% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | Shenkman Capital Floating Rt Hi Inc Inst |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
