@Junkster et al.
IOFIX, 3 year chart.
In many years of charts, I've not seen this relative to the top portion of the chart for RSI. This fund has generally maintained an above 70 RSI (daily or weekly chart) and is currently at 93.5. Above 70, for the technical aspect, is a "watch this", as this investment has entered an "overbought" area. To maintain in the 80-90 range is very unusual. Most technical folks would be yelling, sell. One may also see the price spikes near the end of calendar months as noted by @Junkster, including a most similar pattern from August of 1 year ago.
@Junkster , have you an opinion as to whether the technical aspect is worth regard.
@Tony , if you still receive notifications from MFO; take a look and please offer your technical view opinion.
This link provides a basic description of ABS, relative to some IOFIX exposure. To the right edge of the page is a list of defined aspects of ABS.
Asset backed securities
Whatever management has figured out at this time in the investment area(s) is surely working.
Regards,
Catch

Latest IOFIX presentation from Garrison Point shop ...
http://alphacentricfunds.com/funds/IncomeOpp/presentation.pdf
Latest DPFNX presentation and commentary ...
http://www.deerparkfund.com/PDFs/DPR_Overview_Pres_Q2_2018.pdf
http://www.deerparkfund.com/PDFs/Deer_Park_Commentary_Q2_2018.pdf

Thank you Junkster.
I have considered DPFNX, but will look closer. I remember feeling a bit uncomfortable about the advisor in 2017, which was not helped when I saw this earlier this year ...
Deer Park SEC Probe
Here's side-by-side comparison of IOFIX and DPFNX this past year (99 peers):
Risk & Return Metrics ...

And looking back 3 years:
Period Performance ...

Batting Averages ...

Charles, since March of 2017 been between 40% and 100% IOFIX. Wish I could lie and say I was near 100% going into today but only 55%. Another 30% in DPFNX another bond fund that doesn’t seem to get enough respect for its steady performance. Will add to IOFIX when it has another one of those two day declines or more of where it drops a total of .40% or more. It has had a few this year. They usually appear around the last week of the month every few months or so.
Edit: Because I am a big believer in full disclosure, there were a couple periods beginning the end of December where I was completely out of IOFIX. There were better opportunities the first quarter in other bond funds. Albeit, this year it really hasn’t paid trying to outsmart IOFIX.

so, current holdings only iofix, sigix, zeoix, mint/cash. c

what raised IOFIX to day

Recently initiated holding in ZEOIX and added to IOFIX. Plus, recently picked up GE at under $13 ... it had a really good day today (ha). Own just three mutual funds currently: SIGIX, ZEOIX, IOFIX. Plus MINT.

Money market - FZDXX yielding 1.96%
SEMPX, SPFPX & IOFIX combo to add yield (along with risk) so as to keep up with inflation.

Thanks Junkster! Yes, openice has been working hard on the Holbrook profile. I've stayed heavy in IOFIX, despite your cautions ... which I'm always sensitive too. But sounds like you've stayed in too, even with the aum increase, so that makes me feel better. I also recently picked up ZEOIX after the er reduction ... a proxy to a 3 year cd w/o the hold period restriction. Hope all is well. c

It is hard to miss the Holbrook Income Fund - HOBEX/HOBIX - #1 in the short term bond fund category at Morningstar YTD and one year. Since apparently this fund will be featured in July’s monthly commentary here on MFO, I don’t want to steal anyone’s thunder and just mention it briefly. Holbrook is a new fund (July 2016) with only 14 million under management. The reason for the low AUM is that it is only available in 25 states and on two platforms - TD Ameritrade and Schwab - at least for now as Holbrook is actively looking to expand its reach. I have always been enamored of small newer funds and especially ones with a niche. Holbrook’s niche are the bonds of BDC’s ( Business Development Companies). These higher yielding bonds go by the moniker of “Baby Bonds” and are rated investment grade. None of these BDC bonds have ever previously defaulted on their obligations.
Yes, I know, a relatively high expense ratio (common for a new fund with low AUM, but I heard the same thing last year about IOFIX. Presently I am around 90% in non agencies via IOFIX (42%). DPFNX (29%) and SEMPX (19%). These funds have bucked the overall downtrend in bonds YTD. But so has the Holbrook Income fund. It first caught my attention by its tight rising channel price action. I was able to purchase HOBIX through TD Ameritrade after contacting Holbrook. I spoke with the head of marketing Mike Burns and was also able to speak with the fund manager Scott Carmack. I was extremely impressed with both. This fund is not ordinarily my cup of tea as they aim for 4% to 5% annually with minimal drawdown along the way. But In this current bond environment though 4% to 5% sounds pretty good. So we shall see how it goes but with of course an exit point in place.
Again, there will be a more detailed description of this fund in them July MFO monthly commentary.

Anyone curious about SEMPX: have a look at the holdings. It's pretty diversified across the mortgage spectrum: a few agencies and some commercial in addition to the non-agencies. About the latter -- in contrast to IOFIX/IOFAX, it's spread about evenly between legacy and new issues, and only ~ 1/3 in subprime.
Short version: it's sort of reasonably balanced among the subsectors, so at least is somewhat diversified among specific risks.

As mentioned above, a really ugly year for bond funds. The next domino to drop may be junk corporates. About all that has worked are non agency rmbs and bank loan bond funds. The latter worry me if junk corporates get hit. Going into today I am 75% IOFIX and 25% EIFAX.

.....And Tuesday (today, 24th April) was another poopy day. My PREMX was flat. PRSNX down a penny. PTIAX down .04%. And IOFIX? UP by .16%. What's inside that damn burrito, anyway???? :)

okay... are we saying IOFIX is investing in such "1-share stocks"?

@VintageFreak
Bought IOFIX directly through the transfer agent. A, C and I classes have same initial minimums ($2,500), but different expenses.

We will soon have CEFs in the rating system. So, can't yet quickly pull-up numbers, but I seem to remember both PDI and PRY have substantially higher vol than IOFIX. c

Hmmm ...
I guess I don't have more to say than ...
Lightning In A Bottle

IOFIX zigged when other bond funds and the entire market zagged.
http://www.morningstar.com/funds/xnas/iofix/quote.html

"The allocation back into high yield is a vote of confidence for risk-on bets," Lukeman said...Thanks @Junkster.

The past month junk has shown some real positive divergence with equities. While the S@P is down over 4% and the NASDAQ almost 6%, the proxy index for junk bonds is positive. With all the volatility in equities, I just can’t bring myself to get back into junk in a meaningful way. If I succumb it will be with the Ivy High yield fund. Standing pat with junk lite in bank loan with EIFAX. Besides IOFIX I did buy some DPFNX which I held for a few months last year. It is mischaracterized by Morninstar in the junk bond category.

Sold out of electric utility PNM. (Investor abuse issues coming from the outfit which the company chose to handle stock transactions by remote control, "Computershare.") The proceeds will be split into PTIAX and IOFIX.