American High Income Trust
American High Income Trust · Series S000009230 · 21 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2025 Q4
The funds primary investment objective is to provide you with a high level of current income.
The fund invests primarily in lower-rated debt securities rated Ba1/BB+ or below, including corporate loans and unrated debt the adviser deems equivalent, to generate high current income. It may also hold securities with economic ties to non-U.S. countries and use derivatives such as futures and swaps. Because the fund concentrates in lower-quality debt, it carries greater credit risk and price volatility than funds holding higher-quality securities. The adviser employs multiple portfolio managers, each overseeing distinct segments of the portfolio.
| Share class | Expense ratio | As of |
|---|---|---|
| AHITX | 0.74% | 2026 Q1 |
| RITAX | 1.45% | 2026 Q1 |
| RITBX | 1.45% | 2026 Q1 |
| RITCX | 1.01% | 2026 Q1 |
| RITEX | 0.70% | 2026 Q1 |
| RITFX | 0.42% | 2026 Q1 |
| AHTCX | 1.48% | 2026 Q1 |
| AHTFX | 0.76% | 2026 Q1 |
| CITAX | 0.76% | 2026 Q1 |
| CITCX | 1.52% | 2026 Q1 |
| CITEX | 0.95% | 2026 Q1 |
| CITFX | 0.82% | 2026 Q1 |
| AHIFX | 0.47% | 2026 Q1 |
| RITGX | 0.36% | 2026 Q1 |
| RTEHX | 1.16% | 2026 Q1 |
| RITHX | 0.51% | 2026 Q1 |
| HIGFX | 0.36% | 2026 Q1 |
| TAIHX | 0.78% | 2026 Q1 |
| TAHIX | 0.73% | 2026 Q1 |
| FTAHX | 0.41% | 2026 Q1 |
| FAHHX | 0.46% | 2026 Q1 |
Portfolio turnover 40.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 83.34% |
| Cash & short-term | 8.13% |
| Stocks | 4.13% |
| Loans | 3.96% |
| Derivatives | -0.01% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: NFE BRAZIL FINANCING LTD, KENNEDY-WILSON INC ×2, POLARIS NEWCO LLC, SE COSMOS LLC, ACCENDRA HEALTH INC, DISCOVERY GLOBAL HOLDINGS INC, TALEN ENERGY SUPPLY LLC
Largest exited: AMS-OSRAM AG, WARNERMEDIA HOLDINGS INC ×2, FRONTIER COMMUNICATIONS HOLDINGS LLC ×2, UNITED NATURAL FOODS INC, ACCENDRA HEALTH INC, KENNEDY-WILSON INC
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +9.06% | +30.10% | +27.29% | 2.98% | -2.50% | |
| +8.29% | +27.39% | +22.88% | 2.98% | -2.61% | |
| +8.30% | +27.42% | +22.92% | 2.98% | -2.61% | |
| +8.77% | +29.10% | +25.65% | 2.97% | -2.54% | |
| +9.10% | +30.26% | +27.55% | 2.98% | -2.49% | |
| +9.41% | +31.40% | +29.41% | 2.97% | -2.44% | |
| +8.26% | +27.27% | +22.70% | 2.97% | -2.62% | |
| +9.05% | +30.04% | +27.20% | 2.98% | -2.50% | |
| +9.04% | +30.03% | +27.16% | 2.98% | -2.50% | |
| +8.21% | +27.10% | +22.40% | 2.97% | -2.63% | |
| +8.82% | +29.27% | +25.93% | 2.97% | -2.53% | |
| +9.25% | +30.76% | +28.36% | 2.97% | -2.47% | |
| +9.35% | +31.20% | +29.10% | 2.97% | -2.45% | |
| +9.47% | +31.60% | +29.76% | 2.97% | -2.43% | |
| +8.61% | +28.52% | +24.70% | 2.97% | -2.56% | |
| +9.31% | +31.02% | +28.80% | 2.98% | -2.46% | |
| +9.47% | +31.60% | +29.76% | 2.97% | -2.43% | |
| +9.30% | +30.93% | +28.64% | 2.97% | -2.46% | |
| +9.35% | +31.12% | +28.95% | 2.97% | -2.46% | |
| +9.41% | +31.36% | +29.34% | 2.97% | -2.45% | |
| +9.36% | +31.18% | +29.07% | 2.97% | -2.45% |
These classes hold the same portfolio, so the 7.36pp spread over 5 years is the cost difference between them — roughly 1.47pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 94.2% |
| Floating rate | 5.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 3.0% |
| 1-3y | 20.5% |
| 3-5y | 34.6% |
| 5-10y | 38.9% |
| 10y+ | 3.0% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 50% |
| Interest rates | 50% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +2.37 yr |
| Investment grade | +0.47 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.70 yr | 25% |
| 5 yr | 1.52 yr | 55% |
| 10 yr | 0.43 yr | 15% |
| 30 yr | 0.10 yr | 4% |
| 3 mo | 0.04 yr | 1% |
| 1 yr | 0.70 yr | 25% |
| 5 yr | 1.56 yr | 55% |
| 10 yr | 0.45 yr | 16% |
| 30 yr | 0.09 yr | 3% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.03 | +0.00 | +0.03 | $6.9k | $97.3k |
| 1 yr | +0.70 | +0.05 | +0.65 | $152.0k | $1.83m |
| 5 yr | +1.52 | +0.18 | +1.37 | $525.1k | $3.90m |
| 10 yr | +0.43 | +0.17 | +0.29 | $474.3k | $814.8k |
| 30 yr | +0.10 | +0.06 | +0.02 | $178.2k | $68.5k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| CMQXX | CAPITAL GROUP CENTRAL CASH FUNDCMQXX | 8.13% | — | $2.31B | — |
| DBD | DIEBOLD NIXDORF INCDBD | 1.75% | $85.02 | $495.47M | 5.8M |
| — | DISH NETWORK CORP11.75% · due 2027-11-15 | 0.92% | — | $262.28M | — |
| — | CONNECT FINCO SARL / CONNECT US FINCO LLC9.00% · due 2029-09-15 | 0.75% | — | $212.43M | — |
| — | FXI HOLDINGS INC11.00% · due 2030-11-15 | 0.70% | — | $199.91M | — |
| — | ECHOSTAR CORP10.75% · due 2029-11-30 | 0.68% | — | $193.02M | — |
| — | MPT OPERATING PARTNERSHIP LP5.00% · due 2027-10-15 | 0.64% | — | $181.99M | — |
| TLN | TALEN ENERGY CORPTLN | 0.60% | $384.26 | $170.82M | 444.5K |
| — | PERATON CORP0.09% floating · due 2028-02-01 | 0.58% | — | $165.06M | — |
| — | CLOUD SOFTWARE GROUP LLC9.00% · due 2029-09-30 | 0.55% | — | $155.10M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 15.30% of net assets, top 25 22.18%, across 484 issuers.
See more of this fund's book
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