Morningstar

Changing Parameters Fund CPMPX

Morningstar Medalist Rating
Medalist Rating as of | See Changing Parameters Investment Hub
  • NAV / 1-Day Return 10.68  /  −0.09 %
  • Total Assets 94.3M
  • Adj. Expense Ratio
    2.640%
  • Expense Ratio 2.010%
  • Distribution Fee Level High
  • Share Class Type No Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity Low/Moderate
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 3.54%
  • Effective Duration 4.87 years

USD | NAV as of Jul 18, 2026 | 1-Day Return as of Jul 18, 2026, 12:47 AM GMT+0

Morningstar’s Analysis CPMPX

Will CPMPX outperform in the 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 CPMPX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the CPMPX 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 CPMPX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Changing Parameters holds a quantitatively derived Negative Morningstar Medalist Rating. The rating indicates the model sees limited potential for the strategy to outperform peers on a risk-adjusted basis over a full market cycle.

by Morningstar Automated Analysis
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Portfolio Holdings CPMPX

More CPMPX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 98.2
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

American Beacon SiM High Yld Opps Y

23.14 22M
—

T. Rowe Price Instl Floating Rate

20.04 19M
—

Eaton Vance Emerging Markets Dbt Opps I

14.96 14M
—

JPMorgan High Yield I

14.66 14M
—

Nuveen Preferred Secs & Inc I

9.98 9M
—

MML Barings High Yield I

5.25 5M
—

JPMorgan Hedged Equity 2 I

3.42 3M
—

JPMorgan Hedged Equity 3 I

3.37 3M
—

JPMorgan Hedged Equity I

3.35 3M
—

First American Government Obligs X

1.80 2M
Cash and Equivalents

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