Morningstar Fund Report  | 14/04/2025Print

AXA World Funds - Global High Yield Bonds F Capitalisation USD

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
AXA World Funds - Global High Yield Bonds F Capitalisation USD
Fund4.92.15.810.3-2.5
+/-Cat1.42.30.61.6-0.8
+/-B’mrk0.83.7-2.11.6-1.3
 
Category: Global High Yield Bond
Category Benchmark: Morningstar Gbl HY Bd GR USD
Key Stats
NAV
11/04/2025		 USD 190.78
Day Change -0.65%
Morningstar Category™ Global High Yield Bond
ISIN LU0184631215
Fund Size (Mil)
11/04/2025		 USD 1037.18
Share Class Size (Mil)
11/04/2025		 USD 1.31
Max Initial Charge 2.00%
Ongoing Charge
21/02/2025		  0.89%
Morningstar Research
Analyst Report16/10/2024
Evangelia Gkeka, Senior Analyst
Morningstar, Inc

AXA WF Global High Yield Bond offers investors exposure to a differentiated and historically well-executed approach to high-yield investing. The Morningstar Analyst Rating for the strategy’s clean share class (F Cap USD) remains at Neutral. The...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People23
Parent23
Process24
Performance
Price
Investment Objective: AXA World Funds - Global High Yield Bonds F Capitalisation USD
To seek high income, in USD, from an actively managed bond portfolio. Capital growth is a secondary objective.
Returns
Trailing Returns (GBP)11/04/2025
YTD-5.64
3 Years Annualised4.56
5 Years Annualised4.70
10 Years Annualised5.20
12 Month Yield 0.00
Management
Manager Name
Start Date
Robert Houle
13/08/2021
Michael Graham
13/08/2021
Inception Date
27/02/2004

Category Benchmark
Fund BenchmarkMorningstar Benchmark
ICE BofA Dv Mkts HY Constnd TR USDMorningstar Gbl HY Bd GR USD
Portfolio Profile for  AXA World Funds - Global High Yield Bonds F Capitalisation USD31/03/2025
Fixed Income
Effective Maturity4.41
Effective Duration2.72
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.000.000.00
Bond99.050.0099.05
Property0.000.000.00
Cash109.21108.260.95
Other0.000.000.00
Growth Of 1000 (GBP) 31/03/2025
Fund:  AXA World Funds - Global High Yield Bonds F Capitalisation USD
Category:  Global High Yield Bond
Category Index:  Morningstar Gbl HY Bd GR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return3.848.301.604.862.145.7810.30-2.45
+/- Category1.550.34-0.351.412.310.591.64-0.78
+/- Category Index---3.100.813.70-2.111.60-1.30
% Rank in Category2953483223442880
Trailing Returns (GBP)11/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.65   0.20-0.25
1 Week-1.28   0.41-0.52
1 Month-3.36   -0.15-0.79
3 Months-7.71   -0.83-2.29
6 Months-0.65   -0.21-1.05
YTD-5.64   -0.87-2.17
1 Year1.19   0.26-1.83
3 Years Annualised4.56   1.29-0.41
5 Years Annualised4.70   0.89-0.35
10 Years Annualised5.20   1.54-0.47
 
Category: Global High Yield Bond
Category Index: Morningstar Gbl HY Bd GR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-2.45---
20242.621.32-1.577.77
20230.37-1.334.901.82
2022-0.75-2.068.32-2.99
2021-0.011.633.010.17
2020-6.229.90-0.60-0.84
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAverage4 star
5-YearAverageBelow Average3 star
10-YearAbove AverageBelow Average4 star
OverallAbove AverageBelow Average4 star
 
Category :  Global High Yield BondClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev6.34 %
3-Yr Mean Return5.61 %
 
3-Yr Sharpe Ratio0.24
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl HY Bd GR USD  Morningstar US HY Bd TR USD
3-Yr Beta0.820.90
3-Yr Alpha0.06-0.19
 
Fixed Income Style28/02/2025
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)USD 1187
Maturity Distribution %
1 to 314.84
3 to 544.66
5 to 724.10
7 to 1015.15
10 to 150.00
15 to 200.00
20 to 300.00
Over 300.32
Effective Maturity4.41
Effective Duration2.72
Credit Quality Breakdown %     %
AAA0.00   BB33.65
AA0.00   B38.85
A0.26   Below B11.28
BBB8.04   Not Rated7.91
 
Category: Global High Yield Bond
Asset Allocation31/03/2025
Asset Allocation
 % Long% Short% Net Assets
Stock0.000.000.00
Bond99.050.0099.05
Property0.000.000.00
Cash109.21108.260.95
Other0.000.000.00
Top 10 Holdings31/03/2025
 Portfolio NEW
Total Number of Equity Holdings0
Total Number of Bond Holdings350
Assets in Top 10 Holdings6.85
NameSectorCountry% of Assets
Caesars Entertainment Inc.United States1.01
Mauser Packaging Solutions Holding Co.United States0.75
Zoominfo Technologies Llc /Zoominfo F... United States0.73
Royal Caribbean GroupUnited States0.72
Summit Midstream Holdings, LLC / Summ... United States0.69
Cloud Software Group Inc.United States0.65
Iron Mountain UK PLCUnited States0.60
Illuminate Buyer Llc / Illuminate Hol... United States0.58
Mav Acquisition CorporationUnited States0.56
Clydesdale Acquisition Holdings Inc.United States0.56
 
Increase Decrease New since last portfolio
Category: Global High Yield Bond
 
Management
Name of CompanyAXA Investment Managers Paris S.A.
Phone+33 1 44 45 70 00
Websitewww.axa-im.fr
AddressTour Majunga - 6 place de la Pyramide
 Paris   92908
 France
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date27/02/2004
Fund Advisor(s)
AXA Investment Managers US Inc.
Fund ManagerRobert Houle
Manager Start Date13/08/2021
Career Start Year2001
Education
Williams College, B.A.
 
Biography
Rob is a Portfolio Manager/ Analyst within the US High Yield team, a role he has held since 2008. In addition to managing core high yield portfolios, he is also responsible for research coverage of the basic industry sector. Rob joined AXA IM in 2005 as a US High Yield Credit Analyst. Before joining AXA IM, he was a Trader for three years on the institutional equity trading desk at Lehman Brothers where he traded energy related stocks. Robert holds a Bachelor’s degree in Economics and Psychology from Williams College; and is also a CFA charterholder.
Fund ManagerMichael Graham
Manager Start Date13/08/2021
Career Start Year2005
Education
Williams College, B.A.
 
Biography
Mike is a Portfolio Manager within the US High Yield team, a role he has held since 2010. Prior to his current role managing US Core High Yield portfolios, he was responsible for re-search covering the energy sector. Mike joined AXA IM in 2007. Prior to AXA IM, he was an Analyst for two years in the fixed income division of Bear Stearns, where he performed financial analyses and quantitative support for the Public Power group. Michael holds a Bachelor's degree in Economics from Williams College; and he is also a CFA charter-holder.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge2.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.75%
Ongoing Charge0.89%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes