Wilshire Income Opportunities Fund

The Wilshire Income Opportunities Fund’s (the "Fund") primary investment objective is to maximize current income. Long-term appreciation is a secondary objective. The Fund seeks current income through a diversified, multi-sector portfolio of U.S. and international high yield and investment grade debt securities. The Fund’s underlying subadvisors actively allocate to a broad spectrum of fixed income securities with varying maturities seeking to manage risk, enhance yield, and offer total return potential.

Performance1

Monthly as of 9/30/2019 1 Mo 3 Mo 6 Mo YTD 1 Yr 3 Yr Since Inc.2
Investment Class (WIORX) -0.05% 0.91% 4.08% 8.40% 7.07% 3.92% 4.88%
Institutional Class (WIOPX) -0.08% 0.98% 4.21% 8.66% 7.35% 4.16% 5.06%

 

Quarterly as of 9/30/2019 3Q 2019 YTD 1 Yr 3 Yr Since Inc.2
Investment Class (WIORX) 0.91% 8.40% 7.07% 3.92% 4.88%
Institutional Class (WIOPX) 0.98% 8.66% 7.35% 4.16% 5.06%
Bloomberg Barclay U.S. Universal Index 2.12% 8.80% 10.07% 3.23% 3.85%

1Returns for periods less than one year are aggregate and returns for periods more than one year are annualized. The performance quoted reflects fee waivers in effect, and would have been lower in their absence. The performance data quoted represents past performance and is not indicative of future results. Current performance may be lower or higher. The investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original costs.

2Investment class and institutional class inception dates 3/29/2016.

Fund Facts

Fundamental Characteristics3 As of 6/30/2019

  • Effective Duration: 4.20 Years
  • Yield to Effective Maturity: 3.87%
  • 30-Day SEC Yield: 3.49%
  • Fund Assets: $316.170 Million

Portfolio Management

  • DoubleLine® Capital LP
  • Manulife Asset Management (US) LLC
  • Voya Investment Management Co LLC
 

Fees & Minimums

Investment Class

  • Minimum Initial Investment: $2,500
  • Minimum Subsequent Investment: $100
  • 12b-1 Fee: 0.25%
  • Gross Expense Ratio: 1.21%
    Net Expense Ratio: 1.17%
  • Nasdaq Symbol: WIORX
  • CUSIP: 971897772

Institutional Class

  • Minimum Initial Investment: $250,000
  • Minimum Subsequent Investment: $100,000
  • 12b-1 Fee: None
  • Gross Expense Ratio: 0.91%
    Net Expense Ratio: 0.91%
  • Nasdaq Symbol: WIOPX
  • CUSIP: 971897764
 

3Effective duration is a duration calculation for bonds with embedded options. Effective duration takes into account that expected cash flows will fluctuate as interest rates change. Yield to effective maturity is the total return anticipated if a bond is held for its lifetime. The 30-day SEC yield is an estimator of the return an investor will experience with his or her bond fund investment over a longer period of time.

Wilshire Associates Incorporated, the Fund’s investment adviser, has entered into a contractual agreement to limit expenses to 1.15% and 0.90% of average daily net assets for Investment Class Shares and Institutional Class Shares, respectively, through April 30, 2020. This agreement does not include taxes, brokerage expenses, dividend expenses on short securities and extra ordinary expense. To the extent that the Fund’s expenses are less than the expense limitation, Wilshire may recoup the amount of any management fee waived/expenses reimbursed within three years after the year in which Wilshire incurred the expense if the recoupment does not exceed the existing expense limitation as well as the expense limitation that was in place at the time of the fee waiver/expense reimbursement.

 

Fund Literature» Request these files as printed copies

Fact Sheet

Holdings

Summary Prospectus

Prospectus

Statement of Additional Information

Capital Gains

Financial Reports

 

There are risks involved with investing, including the possible loss of principal. Bonds and bond funds are subject to interest rate risk and will decline in value as interest rates rise. In addition to the normal risks associated with investing, international and emerging market investments may involve risk of capital loss and unfavorable fluctuation in currency values due to differences in generally accepted accounting principles or from social, economic, or political instability in other nations. The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses.

You should consider the Fund’s investment objectives, risks, charges, and expenses carefully before you invest. The Fund’s summary or full prospectus, which can be obtained above, or by calling 1-866-591-1568, contains this and other information about the fund.

Read the prospectus carefully before you invest or send money.

Diversification does not ensure a profit or protect against loss.

The Bloomberg Barclays U.S. Universal Index represents the union of the U.S. Aggregate Index, U.S. Corporate High Yield Index, Investment Grade 144A Index, Eurodollar Index, U.S. Emerging Markets Index, and the non-ERISA eligible portion of the CMBS Index. The index covers USD-denominated, taxable bonds that are rated either investment grade or high-yield. Some U.S. Universal Index constituents may be eligible for one or more of its contributing subcomponents that are not mutually exclusive. The Barclays U.S. Universal Index includes Treasury securities, Government agency bonds, Mortgage-backed bonds, corporate bonds, and a small amount of foreign bonds traded in U.S.

Distributed by Ultimus Fund Distributors, LLC. Please send questions or comments to wilfunds@wilshire.com or WILSHIRE MUTUAL FUNDS, INC., P.O. Box 219512 Kansas City, MO 64121-9512. Check the background of Ultimus Fund Distributors, LLC, on FINRA’s BrokerCheck.

Copyright ©2019 by Wilshire Mutual Funds, Inc., 1299 Ocean Avenue, Suite 700, Santa Monica, California, 90401-1085, USA. All rights reserved.

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