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Morningstar

Palmer Square Income Plus PSYPX

Morningstar Analyst Rating
Quantitative rating as of
  • NAV / 1-Day Return 9.79  /  0.00
  • Total Assets 917.0 Mil
  • Adj. Expense Ratio
    0.750%
  • Expense Ratio 0.750%
  • Distribution Fee Level High
  • Share Class Type Institutional
  • Category Ultrashort Bond
  • Credit Quality / Interest Rate Sensitivity Medium / Limited
  • Min. Initial Investment 250,000
  • Status Open
  • TTM Yield 3.23%
  • Effective Duration 0.41 years

USD | NAV as of Jan 28, 2023 | 1-Day Return as of Jan 28, 2023, 1:00 AM GMT+00:00

Morningstar’s Analysis PSYPX

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

People Pillar

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

Summary

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A drop in its Process Pillar rating is the primary driver of Palmer Square Income Plus's downgrade to a Morningstar Quantitative Rating of Negative from Neutral. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the most expensive quintile among peers.

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