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Morningstar

AB High Income C AGDCX

Morningstar Medalist Rating
Medalist Rating as of | See AllianceBernstein Investment Hub
  • NAV / 1-Day Return 6.64  /  0.13 %
  • Total Assets 3.0 Bil
  • Adj. Expense Ratio
    1.610%
  • Expense Ratio 1.640%
  • Distribution Fee Level Below Average
  • Share Class Type Level Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity Low / Limited
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 7.10%
  • Effective Duration 3.83 years

USD | NAV as of Sep 27, 2023 | 1-Day Return as of Sep 27, 2023, 10:12 PM GMT+0

Morningstar’s Analysis AGDCX

Will AGDCX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable AGDCX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the AGDCX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of AGDCX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Team churn damps confidence in this full-throttle high-yield offering.

Senior Analyst Sam Kulahan

Sam Kulahan

Senior Analyst

Summary

This strategy, which includes the U.S. open-end fund AB High Income and its UCITS sibling AB Global High Yield, adopts a multisector approach that routinely ventures into risky corners of the market. Meanwhile, persistent churn across the firm's fixed-income group provides further pause and results in a downgrade of its People Pillar to Average from Above Average. The strategy's cheapest share classes receive a Morningstar Analyst Rating of Neutral, while its priciest shares are rated Negative.

by Sam Kulahan
Rated on Published on

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Portfolio Holdings AGDCX

More AGDCX Holdings
  • Current Portfolio Date
  • Equity Holdings 17
  • Bond Holdings 933
  • Other Holdings 75
  • % Assets in Top 10 Holdings 13.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

US 5 Year Note (CBT) Sept13

8.17
261,413,159
Government

CDX-NAHYS40V1-5Y-681973 5% 20/06/2028

5.92
189,395,145
Derivative

EUR FWD VS USD 0% 12/10/2023 Purchased

3.52
112,810,272
Derivative

U.S. $ CASH BALANCE 0%

3.24
103,869,269
Cash and Equivalents

CDX-NAHYS40V1-5Y-681973 5% 20/06/2028

3.02
96,599,145
Derivative

IBXXC2D1-TRS-680434 0% 20/09/2023

0.97
31,198,634
—

Sirius Xm Radio Inc 4%

0.72
22,999,386
Corporate

CCO Holdings, LLC/ CCO Holdings Capital Corp. 4.75%

0.68
21,662,051
Corporate

Future on Ultra US Treasury Bond

0.64
20,395,867
Government

CCO Holdings, LLC/ CCO Holdings Capital Corp. 4.5%

0.63
20,009,621
Corporate