Morningstar

Intrepid Income Fund Institutional Class ICMUX

Morningstar Medalist Rating
Medalist Rating as of | See Intrepid Investment Hub
  • NAV / 1-Day Return 8.72  /  +0.23 %
  • Total Assets 1.5B
  • Adj. Expense Ratio
    1.010%
  • Expense Ratio 0.960%
  • Distribution Fee Level High
  • Share Class Type Institutional
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 7.57%
  • Effective Duration 1.83 years

USD | NAV as of Oct 03, 2026 | 1-Day Return as of Oct 03, 2026, 12:02 AM GMT+0

Morningstar’s Analysis ICMUX

Will ICMUX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ICMUX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the ICMUX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of ICMUX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Intrepid Income Institutional holds a quantitatively derived Neutral Morningstar Medalist Rating. The rating suggests the model does not express a clear expectation of outperformance or underperformance relative to peers over a full market cycle.

by Morningstar Automated Analysis
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Portfolio Holdings ICMUX

More ICMUX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 24.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Invesco Shrt-Trm Inv Treasury Instl

3.96 57M
Cash and Equivalents

The Realreal Inc 13%

3.35 49M
Corporate

Cinemark USA Inc. 5.25%

2.81 41M
Corporate

Twilio Inc 3.88%

2.70 39M
Corporate

Angi Group Llc 3.88%

2.55 37M
Corporate

PHH Escrow Issuer LLC / PHH Corp 9.88%

2.48 36M
Corporate

Beach Acquisition Bidco LLC 10%

2.28 33M
Corporate

United Natural Foods, Inc. 6.75%

2.28 33M
Corporate

Conduent Business Services LLC / Conduent State & Local Solutions Inc. 6%

2.21 32M
Corporate

Brinker International, Inc. 8.25%

2.17 31M
Corporate

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