Fund Evaluator:
Virtus Seix Floating Rate High Inc C (SFRCX)
Follow This Fund
Best Performing in Bank Loan Over the Last Year
| 5.4% | Fidelity Advisor Floating Rate Hi Inc Z (FIQSX) |
| 5.3% | Fidelity Floating Rate High Income (FFRHX) |
| 4.9% | American Beacon DoubleLine Fltng Rt Inv (ADLPX) |
| 4.9% | Aristotle Floating Rate Income I-2 (PLFDX) |
| 4.7% | American Beacon DoubleLine Fltng Rt C (ADLCX) |
Fund Details
Virtus Seix Floating Rate High Inc C Overview
Virtus Seix Floating Rate High Inc C (SFRCX) is an actively managed Taxable Bond Bank Loan fund. Virtus launched the fund in 2007.
The investment seeks a high level of current income. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in a combination of first- and second-lien senior floating rate loans and other floating rate debt instruments. It may invest up to 20% of its total assets in senior loans made to non-U.S. borrowers provided that no more than 5% of the portfolio's loans are non-U.S. dollar denominated.
About Virtus Seix Floating Rate High Inc C (SFRCX)
There are 3 members of the management team with an average tenure of 14.12 years: Vincent Flanagan (2011), Eric Guevara (2019), George Goudelias (2006). 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 S&P UBS Leveraged Loan TR USD index with a weighting of 100%. Virtus Seix Floating Rate High Inc C has 268 securities in its portfolio. The top 10 holdings constitute 13.2% 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.
Virtus Seix Floating Rate High Inc C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Virtus Seix Floating Rate High Inc C has 21.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.9%. 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 96.7% (75.1% domestic bond, 21.6% foreign bond and 0.0% convertible bond). Virtus Seix Floating Rate High Inc C has 2.3% of the portfolio in cash.
Assets Under Management
The fund has $4 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.
SFRCX 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 Virtus Seix Floating Rate High Inc C expense ratio is high compared to funds in the Bank Loan category. Virtus Seix Floating Rate High Inc C has an expense ratio of 1.53%, which is 45% higher than its category average, making the fund expense ratio grade a F. 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. Virtus Seix Floating Rate High Inc C has a portfolio turnover rate of 63%, 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, Virtus Seix Floating Rate High Inc C 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.
Virtus Seix Floating Rate High Inc C has a trailing yield of 6.50%, which is below the 6.73% 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.
Virtus Seix Floating Rate High Inc C Grades
Year to date, the fund has returned 3.0%, 1.1 percentage points better than the category, which translates into a grade of A. The fund has returned 5.4% over the past year (grade of A), 6.6% over the past three years (grade of C) and 5.1% per year over the past five years (grade of C) and 3.9% per year over the past 10 years (grade of F).
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 Virtus Seix Floating Rate High Inc C, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
SFRCX 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 |
|
| SFRCX Return (NAV) | 0.7% | 1.3% | 5.4% | 6.6% | 5.1% | 3.9% |
| SFRCX Grade | B | B | A | C | C | F |
| +/- Category | 0.1% | 0.2% | 1.6% | -0.0% | -0.1% | -0.5% |
| Bank Loan Avg | 0.6% | 1.2% | 3.8% | 6.6% | 5.2% | 4.4% |
| SFRCX Tax Cost Ratio | na | na | 2.6% | 3.0% | 2.6% | 2.1% |
SFRCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SFRCX Return (NAV) | 3.0% | 4.9% | 7.6% | 10.9% | -1.8% | 4.7% | -0.5% | 5.7% | -0.7% | 2.8% | 10.3% |
| SFRCX Grade | A | C | D | F | B | C | F | F | D | F | B |
| +/- Category | 1.1% | -0.2% | -0.6% | -1.2% | 0.6% | -0.0% | -1.8% | -1.9% | -0.3% | -0.8% | 1.0% |
| 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: | 0.15 - Low |
| Category Risk Index: | 0.94 - Average |
| Category Risk Grade: | C (40% Rank) |
| Beta: | 0.05 |
| R-Squared: | 2% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na |
| Yield: | 6.5% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1246 Mil |
| Fund Total Assets: | $ 4 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 63% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 20.4 years | |||
| Average Tenure: 14.1 years | |||
| Managers (Year): Goudelias George (2006), Flanagan Vincent (2011), Guevara Eric (2019) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 268 |
| % in Top 10 Holdings: | 13.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 21.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.9% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 75.1% |
| Foreign Bond: | 21.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.3% |
Purchase Information
| Fund Family: | Virtus |
| Phone Number: | 800-243-1574 |
| Website: | www.virtus.com |
| Status: | Closed |
| Inception Date: | August 2, 2007 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 100 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.53% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | Virtus Seix Floating Rate High Inc I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
