Morningstar

VELA Income Opportunities Fund Class A VIOAX

Morningstar Medalist Rating
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  • NAV / 1-Day Return $10.22  /  −0.68 %
  • Fund Size $42.9M
  • Adjusted Expense Ratio 1.090%
  • Net Expense Ratio 1.110%
  • Fee Level: Distribution Above Average
  • Share Class Type Front Load
  • Morningstar Category Moderately Aggressive Allocation
  • Equity Style Box (Funds) Mid Value
  • Fixed-Income Style Box (Funds) —
  • Investment Status Open
  • TTM Yield 3.44%
  • Turnover Ratio 56%
NAV and 1-Day Return as of

Morningstar’s Analysis VIOAX

Will VIOAX 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 VIOAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

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

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

VELA Income Opportunities A 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 VIOAX

More VIOAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 17.2
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Pason Systems Inc

2.04 836,456
Energy

Copa Holdings SA Class A

2.02 828,018
Industrials

PepsiCo Inc

1.91 782,623
Consumer Defensive

Greenbrier Companies Inc

1.89 772,429
Industrials

Ambev SA

1.69 690,075
Consumer Defensive

Medtronic PLC

1.63 666,159
Healthcare

MetLife Inc

1.58 646,973
Financial Services

First American Treasury Obligs X

1.56 636,978
Cash and Equivalents

Federal Agricultural Mortgage Corp Class C

1.54 630,899
Financial Services

Lamb Weston Holdings Inc

1.47 602,921
Consumer Defensive

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