14 important things you should know about PIA Mutual Funds PHYSX mutual fund

Updated: June 29, 2020
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Before we start: if you’re looking for PHYSX “stock” price, you can quickly find it out by visiting Finny and typing "PHYSX quote". If you’re looking for a quick scoop on PHYSX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "PHYSX". You’ll get all this info in one place.

Are you looking to buy or sell PHYSX? Or perhaps you’re looking for PHYSX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this PHYSX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: PHYSX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: PHYSX buy or sell; the pros and cons of investing in PHYSX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to PHYSX.

And here is the list of questions we’ll answer:

  1. Describe Advisors Series Trust: PIA High Yield Fund; Institutional Class Shares (PHYSX).
  2. What are PHYSX holdings?
  3. What is PHYSX performance? What are PHYSX historical returns?
  4. How many up and down years did PHYSX have historically?
  5. What is PHYSX dividend yield?
  6. What is PHYSX minimum initial investment amount?
  7. What is PHYSX expense ratio?
  8. Does PHYSX have any sales loads or 12b-1 distribution expenses?
  9. What is PHYSX tax efficiency (tax-cost ratio)?
  10. What is PHYSX beta? How would you assess PHYSX risk?
  11. What is PHYSX Sharpe ratio?
  12. What is PHYSX Finny Score? PHYSX buy or sell?
  13. What are the pros of investing in PHYSX? What are PHYSX buy reasons?
  14. What are the cons of investing in PHYSX? What are PHYSX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe Advisors Series Trust: PIA High Yield Fund; Institutional Class Shares (PHYSX).

The Fund seeks a high level of current income. The Fund will invest, under normal circumstances, at least 80% of its net assets in a diversified portfolio of domestic and foreign high yield instruments, defined as bonds, forward commitments, loan participations and assignments, and preferred stocks.

2. What are PHYSX top holdings?

PHYSX has 0 stock holdings and 108 bond holdings.

The top 10 holdings represent 15.26% of total assets. Here are the top holdings:

Name Symbol % Assets
Grinding Media Inc. and MC Grinding Media (Canada) Inc. 7.38% N/A 1.70%
Shutterfly, Inc. 8.5% N/A 1.69%
Plastipak Holdings, Inc. 6.25% N/A 1.59%
Townsquare Media, Inc. 6.5% N/A 1.51%
Cimpress PLC 7% N/A 1.50%
BWAY Holding Company 5.5% N/A 1.49%
LBC Tank Terminals Holdings Netherlands B.V. 6.88% N/A 1.47%
New Enterprise Stone & Lime Co., Inc. 6.25% N/A 1.44%
R.R. Donnelley & Sons Company 6.5% N/A 1.44%
Schweitzer-Mauduit 6.88% N/A 1.43%

3. What is PHYSX performance? What are PHYSX historical returns?

PHYSX has generated the following returns:

  • 1-month return is 2.31%;
  • 3-month return is -14.30%;
  • 1-year return is -10.23%;
  • 3-year return is -0.74%;
  • 5-year return is 1.98%.

4. How many up and down years did PHYSX have historically?

In the last 10 years, PHYSX had 8 up years and 2 down years.

5. What is PHYSX dividend yield?

PHYSX yield is 6.59%.

6. What is PHYSX minimum initial investment amount?

PHYSX minimum initial investment amount is $1.00M.

7. What is PHYSX expense ratio?

PHYSX expense ratio is 0.86%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

8. Does PHYSX have any sales loads or 12b-1 distribution expenses?

PHYSX 12b-1 distribution fee is 0. PHYSX front-end sales load is 0. PHYSX back-end sales load is 0.

9. What is PHYSX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 2.84%;
  • 3-year ax cost ratio is 2.62%.

10. What is PHYSX beta? How would you assess PHYSX risk?

  • 3-year beta is 0.20;
  • 5-year beta is 0.22.

11. What is PHYSX Sharpe ratio?

  • 3-year Sharpe ratio is -0.25;
  • 5-year Sharpe ratio is 0.12.

Analysis

12. What is PHYSX Finny Score? PHYSX buy or sell?

PHYSX Finny Score is 43. Our quantitative analysis shows 3 reasons to buy PHYSX and 4 reasons to sell it, resulting in the Finny Score of 43.

13. What are the pros of investing in PHYSX? What are PHYSX buy reasons?

The following are PHYSX strengths from our perspective:

  • Good news: this fund does not have 12b1, front-end or back-end sales fees.
  • PHYSX 3-year Beta is 0.2, which is inversely correlated with the index (BBgBarc US Agg Bond TR USD). The could be good if you're trying to hedge your portfolio.
  • PHYSX 5-year Beta is 0.22, which is inversely correlated with the index (BBgBarc US Agg Bond TR USD). The could be good if you're trying to hedge your portfolio.

14. What are the cons of investing in PHYSX? What are PHYSX negatives?

The following are PHYSX weaknesses from our perspective:

  • PHYSX net assets are $50.20 million. This fund is not a popular choice with retail investors.
  • PHYSX 3-year return is -0.74%, which is lower than the 3-year return of the benchmark index (Bloomberg Barclays US Corporate High Yield TR USD), 2.05%.
  • PHYSX 5-year return is 1.98%, which is lower than the 5-year return of the benchmark index (Bloomberg Barclays US Corporate High Yield TR USD), 3.56%.
  • PHYSX expense ratio is 0.86%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
In the PHYSX review, we covered PHYSX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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