| Class A | Class I | Class R | |
|---|---|---|---|
| Net asset value as of | |||
| Daily change $ | |||
| Daily change % | |||
| Status | Open | Open | Open |
| Ticker | |||
| CUSIP | |||
| ISIN | US68246A5048 | US68246A7028 | US68246A801 |
| Investment minimum* | $1,000 for all accounts except:
|
$1,000,000 for certain institutions and individuals
|
No minimum |
Seeks to maximize current income.
Under normal circumstances, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in a broad range of high-yield, below investment-grade bonds.
| Security | Weight % |
|---|
The top holdings listed exclude cash and cash equivalents. Holdings are subject to change. The holdings listed should not be considered recommendations to purchase or sell a particular security.
1quarter holdings are based on the fiscal year
| Total returns | |
|---|---|
| Total returns | |
|---|---|
| Total returns | |
|---|---|
Risk Measures and Statistics:
Source: Equitable Investment Management and Morningstar Inc. Past performance is no indication of future results.
See definitions here.
| Overall | 3 year | 5 year | |
|---|---|---|---|
| Rating | |||
| # of funds |
Overall Morningstar Rating as of based on risk-adjusted returns (I share).
| rank percentile | Morningstar RatingTM | Out of # of funds | |
|---|---|---|---|
| 1 year | |||
| 3 year | |||
| 5 year |
As of , for class I shares (). Other share classes may have different ratings. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10- year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. The Morningstar percentile ranking is based on the fund’s total-return percentile rank relative to all managed products that have the same category for the same time period. The highest (or most favorable) percentile rank is 1%, and the lowest (or least favorable) percentile rank is 100%. Morningstar total return includes both income and capital gains or losses and is not adjusted for sales charges.
| Fund | Gross expense ratio | Net expense ratio4 |
|---|---|---|
| Class A shares | ||
| Class I shares | ||
| Class R shares |
Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance data may be higher or lower than actual data quoted. For the most current month-end performance data please call (855) 379-9186.
One cannot invest directly in an index.
Returns for periods of less than one year are not annualized.
1Fund inception date of November 12, 2014.
2Maximum Offering Price (MOP) for Class A shares includes the Fund's maximum sales charge of 4.50%. Performance shown at NAV does not include these sales charges and would have been lower had it been taken into account.
3ICE BofA U.S. High Yield Index tracks the performance of US dollar denominated below investment grade corporate debt publicly issued in the U.S. domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody's, S&P and Fitch). In addition, qualifying securities must have at least one year remaining term to final maturity, a fixed coupon schedule and a minimum amount outstanding of $100 million.
4Pursuant to a contract, Equitable Investment Management, LLC (the “Adviser”) has agreed to make payments or waive its and its affiliates’ management, administrative and other fees to limit the expenses of the Fund through April 30, 2025 (unless the Board of Trustees consents to an earlier revision or termination of this arrangement) (“Expense Limitation Arrangement”) so that the annual operating expenses of the Fund (exclusive of taxes, interest, brokerage commissions, capitalized expenses (other than offering costs), fees and expenses of other investment companies in which the Fund invests, 12b-1 fees, dividend and interest expenses on securities sold short, and extraordinary expenses not incurred in the ordinary course of the Fund’s business) do not exceed an annual rate of average daily net assets of 0.75% for Class A shares, Class T shares, Class I shares, and Class R shares of the Fund. The Expense Limitation Arrangement may be terminated by the Adviser at any time after April 30, 2025. The Adviser may be reimbursed the amount of any such payments or waivers in the future provided that the payments or waivers are reimbursed within three years of the payments or waivers being recorded and the Fund’s expense ratio, after the reimbursement is taken into account, does not exceed the Fund’s expense cap at the time of the waiver or the Fund’s expense cap at the time of the reimbursement, whichever is lower. The total annual fund operating expense ratios after fee waiver and/or expense reimbursement for Class A shares, Class T shares, and Class R shares, as shown in the table, are higher than the Fund’s expense cap because these ratios include 12b-1 fees and certain other expenses, as noted above, that are excluded from the Expense Limitation Arrangement.
| Class | Record date | Ex-date | Payable date | Ordinary income | Short-term capital gain | Long-term capital gain | Total |
|---|---|---|---|---|---|---|---|
The Fund is subject to the risk that the securities markets will move down, sometimes rapidly and unpredictably, based on overall economic conditions and other factors, which may negatively affect Fund performance. The value of a security can be more volatile than the market as a whole and can perform differently from the market as a whole. Any issuer of securities may perform poorly, causing the value of its securities to decline. Bonds rated below BBB by Standard & Poor’s Global Ratings or Fitch Ratings, Ltd., or below Baa by Moody’s Investors Service, Inc. (or, if unrated, determined by the investment manager to be of comparable quality) are speculative in nature and are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on changes in interest rates. The Fund is subject to credit risk, the risk that the issuer or guarantor of a fixed income security is unable or unwilling, to make timely interest or principal payments. Changes in interest rates may affect the yield, liquidity and value of investments in income producing or debt securities. From time to time, there may be little or no active trading market for a particular investment in which the Fund may invest or is invested. In such a market, the value of such an investment and the Fund’s share price may fall dramatically. The Fund is subject to the risk that strategies used by an investment manager and its securities selections fail to produce the intended results.
Personal investors:
(888) 310-0416
Financial professionals:
(855) 379-9186
To obtain a prospectus:
1290Funds@DFINsolutions.com
Media inquiries:
Equitable US Media Relations
MediaRelations@equitable.com
* Required Information
