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 subadvisers 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 8/31/2020 1 Mo 3 Mo 6 Mo YTD 1 Yr 3 Yr Since Inc.2
Investment Class (WIORX) 0.68% 4.44% -0.61% 0.63% 1.67% 3.24% 4.25%
Institutional Class (WIOPX) 0.69% 4.55% -0.44% 0.80% 1.91% 3.53% 4.45%

 

Quarterly as of 6/30/2020 2Q 2020 YTD 1 Yr 3 Yr Since Inc.2
Investment Class (WIORX) 6.54% -2.2% -0.24% 2.78% 3.73%
Institutional Class (WIOPX) 6.66% -2.05% 0.08% 3.03% 3.93%
Bloomberg Barclay U.S. Universal Index 3.81% 5.17% 7.88% 5.15% 4.50%

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 nor is it a guarantee of future dividend-paying ability. 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 6/30/2020

  • Effective Duration: 4.11 Years
  • Yield to Effective Maturity: 3.67%
  • 30-Day SEC Yield:
    Institutional Class Subsidized: 4.12% Institutional Class Unsubsidized: 4.10% Investor Class Subsidized: 3.88% Investor Class Unsubsidized: 3.79%
  • Fund Assets: $288.980 Million

Portfolio Management

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

Fees & Minimums

  • Minimum Initial Investment: $2,500
  • Minimum Subsequent Investment: $100
  • 12b-1 Fee: 0.25%
  • Gross Expense Ratio: 1.26%
    Net Expense Ratio: 1.18%
  • Nasdaq Symbol: WIORX
  • CUSIP: 971897772
  • Minimum Initial Investment: $250,000
  • Minimum Subsequent Investment: $100,000
  • 12b-1 Fee: None
  • Gross Expense Ratio: 0.92%
    Net Expense Ratio: 0.92%
  • 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. Unsubsidized SEC 30-day yield is computed under a SEC standardized formula based on net income earned over the past 30 days. It excludes contractual expense reimbursements, resulting in a lower yield. SEC 30-day yield is computed under a SEC standardized formula based on net income earned over the past 30 days. It is a "subsidized" yield, which means it includes contractual expense reimbursements and it would be lower without those reimbursements. Yield to maturity is the average anticipated rate of return for the portfolio’s positions if held to maturity.

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, 2021. This agreement does not include taxes, brokerage expenses, dividend expenses on short securities and extra ordinary expenses. 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

Summary Prospectus

Prospectus

Statement of Additional Information

Capital Gains

Financial Reports

 

There are risks involved with investing, including the possible loss of principal. In addition to the normal risks associated with investing, international 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. 

This material must be preceded or accompanied by a prospectus. An investor should consider the fund’s investment objectives, risks, and charges and expenses before investing. This and other important information about the Funds can be found in the fund’s summary or full prospectus. To obtain more information, please call 1-866-591-1568. Please read the prospectus carefully before investing.

Diversification does not ensure a profit or protect against loss.

Ordinary distributions may include realized short-term capital gains and/or returns of capital. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end. The Fund will send you a Form 1099-DIV which will tell you how to report these distributions for federal income tax purposes. Additional information regarding Fund distributions can be obtained from the Fund’s 19a-1 notices, or the year-end tax letters, however, these additional documents are not, and should not be substituted for your Form 1099-DIV.

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. You cannot invest directly into an index.

Distributed by Compass 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 Compass Distributors, LLC, on FINRA’s BrokerCheck.

Copyright ©2020 by Wilshire Mutual Funds, Inc., 1299 Ocean Avenue, Suite 700, Santa Monica, California, 90401-1085, USA. All rights reserved.

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