Aquila Three Peaks High Income Fund was included in a Category Kings report by The Wall Street Journal for the one-year period ending March 31, 2016. The Category Kings report recognizes the top 10 performing funds, based on total return, in 16 Lipper categories for the one-year period. Aquila Three Peaks High Income Fund class Y (ATPYX) was listed at #6 in the Lipper High Yield Taxable category, out of 646 taxable high yield funds. During this period, the Fund generated a total return of 3.13%, compared to the Lipper High Yield Taxable category average of -4.03%, and the Barclays US Corporate High Yield Index Return of -3.69%.
We believe our relatively defensive positioning within the high yield market in recent years, with a focus on higher-quality names and lower-duration securities within those names, has been prudent, and as a result has produced relatively stable performance within the high yield asset class.
We remain focused on evaluating high yield issuers based on our fundamental research process in which we look for companies that are improving their balance sheets and growing their businesses in a disciplined manner. We believe our focus on providing a less volatile investment strategy within the high yield asset class is judicious given the potential for elevated volatility in this relatively low-yielding fixed-income environment.
Performance quoted in The Wall Street Journal report may not be current. For current quarter-end standardized performance and additional Lipper rankings for the 3-year, 5-year and 10-year periods please click here.
Performance data represents past performance, but does not guarantee future results. Investment return and principal value will fluctuate; shares, when redeemed, may be worth more or less than their original cost; current performance may be lower or higher than the data presented. Class A shares have a maximum sales charge of 4.00%; Class C shares have no initial sales charge, but a 1.00% contingent deferred sales charge applies to Class C shares redeemed within 12 months of their purchase date. Class I shares have no initial or contingent deferred sales charge. Class Y shares have no initial or contingent deferred sales charge. Class I and Class Y shares may only be purchased through an investment professional or financial institution. Class A MOP returns reflect deduction of the maximum 4.00% sales charge; Class A NAV returns do not refl ect deduction of the sales charge and would be lower if that charge were refl ected. Class C returns without CDSC do not reflect deduction of the 1% CDSC applicable in the first 12 months; if applied, the CDSC would reduce the performance quoted.
Before investing in a Fund, carefully read about and consider the investment objectives, risks, charges, expenses, and other information found in the Fund prospectus. The prospectus is available on this site, from your financial adviser and when you call 800-437-1020.
Mutual fund investing involves risk; loss of principal is possible.
Investment Considerations: Investments in bonds may decline in value due to rising interest rates, a real or perceived decline in credit quality of the issuer, borrower, counterparty, or collateral, adverse tax or legislative changes, court decisions, market or economic conditions. The Fund’s portfolio will typically include a high proportion, perhaps even 100%, of high-yield / high-risk securities rated below investment grade. High-yield corporate bonds generally have greater credit risk than other types of fixed-income securities and may be especially sensitive to economic and political changes or adverse developments specific to the company that issued the bond. The return of principal for the bond holdings in this fund is not guaranteed.
Lipper, Inc., a mutual fund rating service, compiles performance data used to derive their own ranking data. Lipper rankings are based on total return calculations without an adjustment for sales charges. As of March 31, 2015, Lipper placed Aquila Three Peaks Opportunity Growth Fund Class Y in the 1st percentile for the 1-year period within their Mid Cap Core Category, which on that date included 386 mutual funds. Lipper ratings for other periods are included with the standardized performance data.