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Touchstone Dynamic Diversified Income Fund

Daily NAV
$
Overall Morningstar Rating™
Allocation--30% to 50% Equity

Overview

Overview

Actively Managed and Sub-Advised by Wilshire Associates Incorporated

Objective

The fund seeks to provide investors with current income.

Dynamic Diversified Income Fund Commentary

Investment Style

  • This "fund of funds" primarily invests in a diversified portfolio of underlying fixed income and equity-income oriented funds. These underlying funds, in turn, invest in a variety of U.S. and foreign equity and fixed income securities
  • The majority of the underlying funds in which the fund invests will be affiliated funds; however, the fund has the ability to invest in unaffiliated underlying funds
  • The fund's sub-advisor seeks to develop an optimal model allocation among underlying funds that seek to maximize income efficiency or yield achieved per unit of risk. It is dynamically managed as yield and volatility environments change
  • Under normal circumstances, the fund expects to allocate its assets among equity and fixed income funds as follows: Equity Fund Allocation: 25-55%; Fixed Income Fund Allocation: 45-75%
A WORD ABOUT RISK

The value of an investment in the Fund is based on the performance of the underlying funds in which it invests and the allocation of its assets among those funds. The Fund bears a proportionate amount of the expenses charged by the underlying funds. The Fund’s ability to achieve its investment goal depends upon the sub-advisor’s skill in selecting the best mix of underlying funds. The principal risks of an investment in the Fund include the principal risks of investing in the underlying funds in addition to those of the Fund. The Fund invests in equities which are subject to market volatility and loss. The Fund invests in foreign securities, foreign depositary receipts and emerging markets securities which carry the associated risks of economic and political instability, market liquidity, currency volatility and differences in accounting standards. The Fund invests in debt securities which can lose their value as interest rates rise and are subject to credit risk which is the risk of deterioration in the financial condition of an issuer and/or general economic conditions that can cause the issuer to not make timely payments of principal and interest also causing the securities to decline in value and an investor can lose principal. The Fund invests in non-investment grade debt securities which are considered speculative with respect to the issuers’ ability to make timely payments of interest and principal, may lack liquidity and has had more frequent and larger price changes than other debt securities. The Fund invests in derivatives which may expose the Fund to additional risk than directly investing in securities and may lack a liquid market, are subject to counterparty risk and leverage risk which could result in increased volatility of returns as well as losses. Liquidity risk may exist when particular investments are difficult to purchase or sell, which can reduce an underlying fund’s return. Leverage can create an interest expense that may lower the Fund's overall returns. There can be no guarantee that a leveraging strategy will be successful. Current and future portfolio holdings are subject to risk. The advisor engages the sub-advisor to manage the Fund’s portfolio; the sub-advisor’s judgment may impact the Fund’s performance. The Fund is non-diversified, which means that it may invest a greater percentage of its assets in the securities of a limited number of issuers and may be subject to greater risks. The Fund may experience higher portfolio turnover which may lead to increased fund expenses, lower investment returns and higher short-term capital gains taxable to shareholders. The Advisor engages a sub-advisor to make investment decisions for the Fund’s portfolio; it may be unable to identify and retain a sub-advisor who achieves superior investment returns relative to other similar sub-advisors.

Fund Facts

Fund Facts for Share Class
Symbol
CUSIP
Share Class Inception Date
Total Share Class Net Assets as of 06/30/2019
Total Fund Net Assets as of 06/30/2019 $74,958,677
Asset Class Income, Multi-Asset
Morningstar Category Allocation--30% to 50% Equity
Benchmark Bloomberg Barclays U.S. Aggregate Bond Index
Benchmark 2 MSCI All Country World Index
Distribution Frequency Quarterly
Portfolio Turnover Rate
Fiscal Year End
Prospectus Date 04/30/2019

Performance 

Daily Returns as of
NAV NAV $ Change
Touchstone Dynamic Diversified Income Fund -
HISTORICAL DAILY NAV
as of 08/31/2019
1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Dynamic Diversified Income Fund -
Including Sales Charge
Touchstone Dynamic Diversified Income Fund -
Excluding Sales Charge
Bloomberg Barclays U.S. Aggregate Bond Index 2.59% 4.11% 9.10% 10.17% 3.09% 3.35% 3.91% --
MSCI All Country World Index -2.37% 4.33% 13.80% -0.28% 9.17% 5.51% 8.61% --
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. The maximum front-end sales charge for Class A Shares of Touchstone U.S. Equity, International/Global Equity and Multi-Asset Investment Funds excluding Touchstone Flexible Income Fund is 5.00%.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Performance for Class C Shares is adjusted for the contingent deferred sales charges (CDSC) in effect at the end of the specified period. The CDSC for Class C Shares is 1.00% the first year you hold the shares and declines to 0% after the first year.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Class Y Shares are sold at net asset value (NAV), without an initial sales charge and are not subject to a 12b-1 fee or contingent deferred sales charges.
The performance presented for Class Y Shares combines the performance of an older class of shares (A Shares) from the Fund's inception, 09/30/04, with the performance since the inception date of each share class.
as of 06/30/2019
1 Year 3 Year 5 Year 10 Year Since Inception
Touchstone Dynamic Diversified Income Fund -
Including Sales Charge
Touchstone Dynamic Diversified Income Fund -
Excluding Sales Charge
Bloomberg Barclays U.S. Aggregate Bond Index 7.87% 2.31% 2.95% 3.90% --
MSCI All Country World Index 5.74% 11.62% 6.16% 10.15% --
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. The maximum front-end sales charge for Class A Shares of Touchstone U.S. Equity, International/Global Equity and Multi-Asset Investment Funds excluding Touchstone Flexible Income Fund is 5.00%.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Performance for Class C Shares is adjusted for the contingent deferred sales charges (CDSC) in effect at the end of the specified period. The CDSC for Class C Shares is 1.00% the first year you hold the shares and declines to 0% after the first year.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. From time to time, the investment advisor may waive some fees and/or reimburse expenses, which if not waived or reimbursed, will lower performance. Returns are not annualized for periods of less than one year. Assumes reinvestment of all dividends and capital gains. Class Y Shares are sold at net asset value (NAV), without an initial sales charge and are not subject to a 12b-1 fee or contingent deferred sales charges.
The performance presented for Class Y Shares combines the performance of an older class of shares (A Shares) from the Fund's inception, 09/30/04, with the performance since the inception date of each share class.

Consider Touchstone Dynamic Diversified Income Fund for Your Portfolio

Touchstone Dynamic Diversified Income Fund is a “fund of funds.” It primarily invests in a diversified portfolio of underlying fixed income and equity-income oriented funds. It seeks to provide investors with current income.
Contact Us Now

Morningstar Rating™

Portfolio

as of 06/30/2019
Target Asset Class Mix % of Portfolio
Opportunistic Fixed Income 36.1
Fixed Income 29.9
U.S. Large Cap Equity 14.3
REITS & Commodities 11.9
Non U.S. Equity 7.9
U.S. Small/Mid Cap Equity 0.0
Alternatives 0.0
Data may not total due to rounding.
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 08/31/2019
Security Description % of Portfolio
TOUCHSTONE IMPACT BOND FUND 22.4
TOUCHSTONE CREDIT OPPORTUNITIE 17.3
TOUCHSTONE HIGH YIELD FUND 10.2
TOUCHSTONE FLEXIBLE INCOME FUN 9.0
TOUCHSTONE VALUE FUND 8.9
VANGUARD HIGH DIVIDEND YIELD E 6.1
JPMORGAN ALERIAN MLP INDEX ETN 6.0
VANECK VECTORS J.P. MORGAN EM 3.9
VANGUARD REAL ESTATE ETF 3.1
VANGUARD GLOBAL EX-U.S. REAL E 3.1
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.
as of 06/30/2019
Security Description
Country
Shares Par Value
Current Price ($)
Market Value ($)
% of Portfolio
DREYFUS GOVERNMENT CASH MANAGE 12/01/2099 US 350,413 1.00 350,413 0.47
ISHARES INTERNATIONAL SELECT D US 76,210 30.72 2,341,171 3.12
ISHARES MSCI EAFE VALUE ETF US 48,720 48.07 2,341,970 3.12
JPMORGAN ALERIAN MLP INDEX ETN US 186,290 25.11 4,677,742 6.23
TOUCHSTONE CREDIT OPPORTUNITIE US 1,286,853 9.95 12,804,186 17.06
TOUCHSTONE FLEXIBLE INCOME FUN US 617,162 10.89 6,720,899 8.95
TOUCHSTONE HIGH YIELD FUND US 887,162 8.53 7,567,494 10.08
TOUCHSTONE IMPACT BOND FUND US 1,609,753 10.28 16,548,262 22.04
TOUCHSTONE PREMIUM YIELD EQUIT US 830,487 8.46 7,025,917 9.36
TOUCHSTONE VALUE FUND US 374,330 9.42 3,526,185 4.70
VANECK VECTORS J.P. MORGAN EM US 91,495 34.70 3,174,877 4.23
VANGUARD EMERGING MARKETS GOVE US 18,905 80.42 1,520,340 2.03
VANGUARD GLOBAL EX-U.S. REAL E US 39,490 59.00 2,329,910 3.10
VANGUARD REAL ESTATE ETF US 29,120 87.40 2,545,088 3.39
WISDOMTREE EMERGING MARKETS HI US 35,845 44.66 1,600,838 2.13
There is no guarantee that the Fund will continue to hold any one particular security or stay invested in any one particular sector. Holdings are subject to change. Calculations for sectors and top holdings exclude cash equivalents. Data may not total due to rounding. 
For the data illustrated for Touchstone Domestic Equity Funds, Morningstar is the source. For the data illustrated for Touchstone Fixed Income Funds,  International/Global Equity Funds and Multi-Asset Funds, the fund’s sub-advisor is the source. All holdings data is sourced from BNY Mellon Asset Servicing.

Management

Management

Actively Managed and Sub-Advised by Wilshire Associates Incorporated
Nathan Palmer

Nathan Palmer, CFA

Investment Experience since 1997 

Career Summary 
Wilshire Associates Incorporated
Convergent Wealth Advisors
California Institute of Technology
Intel Corporation 

Education 
MBA - Stern School of Business, New York University
BA - University of Washington
Anthony Wicklund

Anthony Wicklund, CFA, CAIA

Investment Experience since 2001 

Career Summary 
Wilshire Associates Incorporated
Convergent Wealth Advisors
Pacific Seafood 

Education 
MBA - Marshall School of Business, University of Southern California
BS - University of Oregon

Fees

Expense Fees for Share Class
Total Annual Fund Operating Expense Ratio
Net Annual Fund Operating Expense Ratio
Touchstone Advisors has contractually agreed to waive a portion of its fees and/or reimburse certain Fund expenses in order to limit certain annual fund operating expenses (excluding Acquired Fund Fees and Expenses “AFFE,” and other expenses, if any) to 0.49% for Class A Shares, 1.24% for Class C Shares and 0.24% for Class Y Shares. These expense limitations will remain in effect until at least 04/29/2020.

Distributions

Capital Gain and Income Distribution as of
Pay Date Income Distribution Short Term Capital Gains Per Share Long Term Capital Gains Per Share Total Capital Gains Per Share

Resources

Consider Touchstone Dynamic Diversified Income Fund for Your Portfolio

Touchstone Dynamic Diversified Income Fund is a “fund of funds." It primarily invest in a diversified portfolio of underlying fixed income and equity-income oriented funds. It seeks to provide investors with current income.
Contact Us Now

Please consider the investment objectives, risks, charges and expenses of the fund carefully before investing. The prospectus and the summary prospectus contain this and other information about the Fund. To obtain a prospectus or a summary prospectus, contact your financial advisor or download and/or request one on the resources section or call Touchstone at 800-638-8194. Please read the prospectus and/or summary prospectus carefully before investing.

Investment return and principal value of an investment in a Fund will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. All investing involves risk.

Touchstone Funds are distributed by Touchstone Securities, Inc.*
*A registered broker-dealer and member FINRA/SIPC.

Not FDIC Insured | No Bank Guarantee | May Lose Value

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