Fund Evaluator:
Touchstone Ares Credit Opps Y (TMAYX)
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Best Performing in High Yield Bond Over the Last Year
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Fund Details
Touchstone Ares Credit Opps Y Overview
Touchstone Ares Credit Opps Y (TMAYX) is an actively managed Taxable Bond High Yield Bond fund. Touchstone launched the fund in 2015.
The investment seeks total return, primarily from income and capital appreciation. The fund invests, under normal circumstances, at least 80% of its assets (including the amount of borrowings for investment purposes) in U.S. and non-U.S. debt instruments. The fund seeks to achieve its investment goal by investing in a wide array of debt securities or other debt instruments. The fund is non-diversified.
About Touchstone Ares Credit Opps Y (TMAYX)
There are 3 members of the management team with an average tenure of 8.38 years: Seth Brufsky (2015), Kapil Singh (2018), Chris Mathewson (2019). 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 ICE BofA US HY Constnd TR USD index with a weighting of 100%. Touchstone Ares Credit Opps Y has 463 securities in its portfolio. The top 10 holdings constitute 8.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Touchstone Ares Credit Opps Y is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Touchstone Ares Credit Opps Y has 11.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.4%. 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 95.7% (84.4% domestic bond, 11.3% foreign bond and 0.6% convertible bond). Touchstone Ares Credit Opps Y has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $600 million in total assets, which is above 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.
TMAYX 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 Touchstone Ares Credit Opps Y expense ratio is above average compared to funds in the High Yield Bond category. Touchstone Ares Credit Opps Y has an expense ratio of 0.77%, which is 16% lower than its category average, making the fund expense ratio grade a C. 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. Touchstone Ares Credit Opps Y has a portfolio turnover rate of 47%, 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, Touchstone Ares Credit Opps Y returned 0.1%, which earned it a grade of D, 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.
Touchstone Ares Credit Opps Y has a trailing yield of 7.75%, which is above the 6.26% 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.
Touchstone Ares Credit Opps Y Grades
Year to date, the fund has returned 1.7%, 0.3 percentage points worse than the category, which translates into a grade of D. The fund has returned 4.3% over the past year (grade of F), 8.2% over the past three years (grade of C) and 4.7% per year over the past five years (grade of A) and 5.8% per year over the past 10 years (grade of A).
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TMAYX 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 |
|
| TMAYX Return (NAV) | 0.1% | 1.8% | 4.3% | 8.2% | 4.7% | 5.8% |
| TMAYX Grade | D | F | F | C | A | A |
| +/- Category | -0.1% | -0.6% | -1.4% | 0.1% | 0.9% | 0.8% |
| High Yield Bond Avg | 0.2% | 2.4% | 5.7% | 8.1% | 3.8% | 5.1% |
| TMAYX Tax Cost Ratio | na | na | 3.0% | 3.1% | 3.1% | 2.8% |
TMAYX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TMAYX Return (NAV) | 1.7% | 6.9% | 8.3% | 13.2% | -8.6% | 9.5% | 4.7% | 14.4% | -2.3% | 6.6% | 11.6% |
| TMAYX Grade | D | F | B | A | B | A | D | B | B | C | D |
| +/- Category | -0.3% | -1.0% | 0.6% | 1.3% | 1.5% | 4.4% | -0.5% | 1.4% | 0.3% | -0.1% | -1.8% |
| 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: | 4.4% |
| Total Risk Index: | 0.36 - Low |
| Category Risk Index: | 1.08 - Above Average |
| Category Risk Grade: | D (75% Rank) |
| Beta: | 0.59 |
| R-Squared: | 57% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 7.8% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $865 Mil |
| Fund Total Assets: | $ 600 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 47% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 10.8 years | |||
| Average Tenure: 8.4 years | |||
| Managers (Year): Brufsky Seth (2015), Singh Kapil (2018), Mathewson Chris (2019) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 463 |
| % in Top 10 Holdings: | 8.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 11.3% |
Portfolio Allocation |
|
| Domestic Stock: | 1.4% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 84.4% |
| Foreign Bond: | 11.3% |
| Convertible Bond: | 0.6% |
| Other: | -0.1% |
| Cash: | 2.4% |
Purchase Information
| Fund Family: | Touchstone |
| Phone Number: | 800-543-0407 |
| Website: | www.touchstoneinvestments.com |
| Status: | Open |
| Inception Date: | August 31, 2015 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| 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 (%): | 0.77% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.92% |
| Share Class: | Touchstone Ares Credit Opps I |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
