Impax High Yield Bond Fund Q1 2026 Commentary
The Impax High Yield Bond Fund underperformed its benchmark in the first quarter of 2026. Higher-quality credits led performance, with BB-rated bonds showing the best returns. The fund's quarterly returns were -0.40% for BBs, -0.39% for Single Bs, and -2.67% for CCCs and below.
- ▪The Impax High Yield Bond Fund portfolio underperformed its benchmark during the first quarter on a net of fees basis.
- ▪Performance was led by higher-quality credits, with BBs outperforming Single Bs and CCCs.
- ▪Quarterly returns for BBs, Single Bs, and CCCs were -0.40%, -0.39%, and -2.67%, respectively.
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