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STISX - Federated Strategic Income Instl

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Federated Strategic Income Instl (STISX)
Expense Ratio: 1.02%
Expected Lifetime Fees: $30,310.69


The Federated Strategic Income Instl fund (STISX) is a Multisector Bond fund started on 1/28/2008 and has $1.40 billion in assets under management. The current manager has been running Federated Strategic Income Instl since 1/24/1998. The fund is rated by Morningstar. This fund does not charge 12b-1 fees.

MarketRiders Prefers The Following ETF

iShares Barclays Aggregate Bond (AGG)
Expense Ratio: 0.20%
Expected Lifetime Fees: $6,475.12


The iShares Barclays Aggregate Bond (AGG) is an Exchange Traded Fund. It is a "basket" of securities that index the Multisector Bond investment strategy and is an alternative to a Multisector Bond mutual fund. Fees are very low compared to a comparable mutual fund like Federated Strategic Income Instl because computers automatically manage the stocks.




The Following Multisector Bond Funds Have Lower Fees Than Federated Strategic Income Instl (STISX). Why are these metrics important?
Mutual Fund Name Ticker Symbol Turnover Assets (M) Annual Fees
AdvisorOne Flexible Income Fund Class N Shares CLFLX 10.0% 143 0.96%
AllianceBern High Income A AGD1Z 29.0% 4,100 0.89%
AllianceBern High Income Advisor AGDYX 29.0% 4,100 0.59%
AllianceBern High Income I AGDIX 29.0% 4,100 0.63%
Brandes Separately Managed Acct Res Tr SMARX 56.2% 145 0.00%
Columbia Strategic Income Fund Class R4 CSIVX 128.0% 2,500 0.94%
Columbia Strategic Income Z LSIZX 128.0% 2,500 0.77%
Diamond Hill Strategic Income A DSIAX 36.0% 167 1.00%
Diamond Hill Strategic Income I DHSTX 36.0% 167 0.75%
DWS Unconstrained Income S KSTSX 154.0% 493 0.95%
Eaton Vance Strategic Income I ESIIX 8.0% 2,900 0.84%
Fidelity Advisor Strategic Income A FSTAX 221.0% 11,000 0.99%
Fidelity Advisor Strategic Income I FSRIX 221.0% 11,000 0.76%
Fidelity Advisor Strategic Income T FSIAX 221.0% 11,000 0.98%
Fidelity Strategic Income FSICX 229.0% 9,500 0.70%
Franklin Strategic Income A FRSSZ 66.8% 6,200 0.89%
Franklin Strategic Income A FRSTX 66.8% 6,200 0.89%
Franklin Strategic Income Adv FKSAX 66.8% 6,200 0.64%
Hartford Strategic Income A HSNAX 156.0% 625 0.95%
Hartford Strategic Income I HSNIX 156.0% 625 0.70%
JHancock Strategic Income A JHFIX 33.0% 3,300 0.92%
JHancock Strategic Income I JSTIX 33.0% 3,300 0.52%
JHancock Strategic Income R5 JSNVX 33.0% 3,300 0.52%
JHancock2 Strategic Income Opps I JIPIX 40.0% 3,000 0.87%
Loomis Sayles Bond Instl LSB1Z 22.0% 20,800 0.63%
Loomis Sayles Bond Instl LSBDX 22.0% 20,800 0.63%
Loomis Sayles Bond Retail LSBRX 22.0% 20,800 0.92%
Loomis Sayles Strategic Income A NEFZX 25.0% 13,900 0.95%
Loomis Sayles Strategic Income Y NEZYX 25.0% 13,900 0.70%
Lord Abbett Bond-Debenture A LBNSZ 35.7% 8,000 0.97%
Lord Abbett Bond-Debenture I LBNYX 35.7% 8,000 0.62%
MainStay Flexible Bond Opportunities I MSDIX 26.0% 371 0.82%
MFS Strategic Income I MFIIX 38.0% 305 0.80%
Neuberger Berman Strategic Income I NSTLX 265.0% 781 0.75%
Oppenheimer Global Strategic Inc A OPS2Z 53.0% 8,400 0.92%
Oppenheimer Global Strategic Inc A OPSIX 53.0% 8,400 0.92%
Oppenheimer Global Strategic Inc A OSI1Z 53.0% 8,400 0.92%
Oppenheimer Global Strategic Inc Y OSIYX 53.0% 8,400 0.72%
Osterweis Strategic Income OSTIX 87.0% 2,300 0.98%
PIMCO Diversified Inc Admin PDAAX 65.0% 5,700 1.00%
PIMCO Diversified Inc Instl PDIIX 65.0% 5,700 0.75%
PIMCO Income A PONAX 311.0% 8,900 0.80%
PIMCO Income D PONDX 311.0% 8,900 0.70%
PIMCO Income Instl PIMIX 311.0% 8,900 0.40%
PIMCO Income P PONPX 311.0% 8,900 0.50%
Pioneer Strategic Income Y STRYX 36.0% 5,900 0.72%
Putnam Diversified Income A PDINX 165.0% 3,400 0.98%
Putnam Diversified Income Y PDVYX 165.0% 3,400 0.73%
RS Strategic Income A RSIAX 79.0% 101 0.75%
RS Strategic Income Y RSRYX 79.0% 101 0.50%
Russell Global Opportunistic Credit Fund Class S RGCSX 126.0% 815 0.97%
Russell Global Opportunistic Credit Fund Class S RGCSZ 126.0% 815 0.97%
T. Rowe Price Spectrum Income RPSIX 14.7% 6,200 0.69%
T. Rowe Price Strategic Income Fund PRSNX 70.0% 253 0.86%
T. Rowe Price Strategic Income Fund Advisor Class PRSAX 70.0% 253 1.01%
Thornburg Strategic Income I TSIIX 48.1% 478 0.98%
Transamerica Flexible Income A IDITX 42.0% 279 0.97%
Transamerica Flexible Income I TFXIX 42.0% 279 0.69%



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Why Are These Metrics Important?


Turnover
Turnover represents how much of a mutual fund's holdings are changed over the course of a year through buying and selling. Active mutual funds have an average turnover rate of about 85%, meaning that funds are turning over nearly all of their holdings every year. A high turnover means you could make lower returns because: 1) buying and selling stocks costs money through commissions and spreads and 2) the fund will distribute yearly capital gains which increases your taxes. Look for funds with turnover rates below 50%. For comparison, ETF turnover rates average around 10% or lower.

Assets
Generally, smaller funds do better than larger ones. The more assets in a mutual fund, the lower the chance that it will beat its index. Managers outperform an index by choosing stocks that are undervalued. In order to find these undervalued stocks, the manager has to know more than his competitors to develop an "edge." There are only a finite number of stocks a mutual fund manager can reasonably analyze and actively track to gain such a competitive edge. When the fund has more assets, the manager must analyze large companies because he needs to take larger positions. Large companies are more efficiently priced in the market and it becomes increasingly difficult to get an edge.

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