OpenList — Long Only

Robeco Corporate Hybrid bonds

Fixed Income · Global · EUR Corporate Bonds

Figures refer to the share class ISIN LU1700711663, currency EUR, clean share class.

Fund documents

For the share class shown above.

Factsheet: not publicly available (not found in the public sources checked).

KID (PDF, 30.04.2026)All documents on fundinfo

Key facts

Management company
Robeco Luxembourg SA
Asset class
Fixed Income
Geography
Global
Strategy
EUR Corporate Bonds
Share class currency
EUR
Share class inception
19.10.2017
Fund size
267 million (as at 14.09.2026)
Management fee
0.40%
Performance fee
Not available in this publication
Liquidity
Daily
UCITS
Yes
Risk grade (SRRI)
3 (WSP fund database, as at 22.08.2026)
Registered in Switzerland
Yes

Price history

Fund and benchmark rebased to 100 at 30.09.2021.

8590951001051102022202320242025202698.6107.5Fund (share class shown)Benchmark8590951001051102022202320242025202698.6107.5Fund (share class shown)Benchmark
Table view
PeriodFromFund (100 at start)Benchmark (100 at start)
1Y03.10.202598.898.5
3Y29.09.2023118.5112.1
5Y30.09.2021107.598.6
Since 201718.10.2017121.5105.5

Total return: distributions reinvested.
In EUR, the currency of the share class shown.
Fund history to 28.09.2026.
Benchmark history to 28.09.2026.
Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.

Performance against the benchmark

08YTD: Fund 0.55%YTD: Bloomberg Euro Corp TR EUR 0.13%YTD1Y: Fund 2.25%1Y: Bloomberg Euro Corp TR EUR 0.78%1Y3Y p.a.: Fund 6.65%3Y p.a.: Bloomberg Euro Corp TR EUR 4.17%3Y p.a.5Y p.a.: Fund 1.86%5Y p.a.: Bloomberg Euro Corp TR EUR -0.07%5Y p.a.2025: Fund 6.11%2025: Bloomberg Euro Corp TR EUR 3.03%20252024: Fund 7.88%2024: Bloomberg Euro Corp TR EUR 4.74%20242023: Fund 8.70%2023: Bloomberg Euro Corp TR EUR 8.19%2023Fund (share class shown)BenchmarkYTDYTD: Fund 0.55%0.55YTD: Bloomberg Euro Corp TR EUR 0.13%0.131Y1Y: Fund 2.25%2.251Y: Bloomberg Euro Corp TR EUR 0.78%0.783Y p.a.3Y p.a.: Fund 6.65%6.653Y p.a.: Bloomberg Euro Corp TR EUR 4.17%4.175Y p.a.5Y p.a.: Fund 1.86%1.865Y p.a.: Bloomberg Euro Corp TR EUR -0.07%-0.0720252025: Fund 6.11%6.112025: Bloomberg Euro Corp TR EUR 3.03%3.0320242024: Fund 7.88%7.882024: Bloomberg Euro Corp TR EUR 4.74%4.7420232023: Fund 8.70%8.702023: Bloomberg Euro Corp TR EUR 8.19%8.19Fund (share class shown)Benchmark
1M3M6MYTD2025202420231Y3Y5YVolatilitySharpe R.Max DD
FundISIN LU1700711663, currency EUR, clean share class0.26-0.02-0.470.556.117.888.702.256.651.863.061.24-2.24
BenchmarkBloomberg Euro Corp TR EUR-0.22-0.75-1.170.133.034.748.190.784.17-0.073.370.41-2.27
Differencefund minus benchmark, in percentage points0.480.730.690.423.083.140.511.472.481.94–––

Within the list: OpenList — Long Only

Compared with the fixed income funds on OpenList — Long Only (15 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.

This fundGroup medianPosition
Return 1Y2.255.1814 of 15
Return 3Y p.a.6.658.499 of 15
3Y p.a. over its own benchmark2.482.096 of 15
Volatility 3Y3.064.833 of 15
Sharpe ratio 3Y1.240.864 of 15
Max drawdown 3Y-2.24-2.606 of 15
Management fee0.40%0.60%1 of 15

Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.

Return against risk, 3 years

015Return 3Y p.a. (%)Volatility 3Y (%)017BNY Mellon Global Credit Fund: volatility 4.99%, return 5.71% p.a.BNY Mellon Global Short-Dated High Yield Bond Fund: volatility 2.47%, return 8.49% p.a.Barings Emerging Markets Local Debt Fund: volatility 9.69%, return 8.96% p.a.Barings Global High Yield Bond Fund: volatility 3.87%, return 9.06% p.a.DNCA Alpha Bonds: volatility 1.92%, return 4.53% p.a.H2O Multibonds FCP: volatility 16.10%, return 10.96% p.a.PIMCO Capital Securities Fund: volatility 4.44%, return 10.21% p.a.Robeco Global SDG Credits: volatility 5.02%, return 2.95% p.a.Solitaire Global Bond Fund: volatility 5.56%, return 13.61% p.a.TCW Global Income Fund: volatility 4.83%, return 6.20% p.a.TCW Multi-Sector Fixed Income Fund: volatility 3.61%, return 6.31% p.a.Vanguard Emerging Markets Bond Fund: volatility 6.54%, return 10.45% p.a.Vontobel Emerging Markets Debt: volatility 6.85%, return 13.94% p.a.Vontobel TwentyFour Strategic Income Fund: volatility 4.32%, return 6.30% p.a.Robeco Corporate Hybrid bonds: volatility 3.06%, return 6.65% p.a.This fund015Return 3Y p.a. (%)Volatility 3Y (%)017BNY Mellon Global Credit Fund: volatility 4.99%, return 5.71% p.a.BNY Mellon Global Short-Dated High Yield Bond Fund: volatility 2.47%, return 8.49% p.a.Barings Emerging Markets Local Debt Fund: volatility 9.69%, return 8.96% p.a.Barings Global High Yield Bond Fund: volatility 3.87%, return 9.06% p.a.DNCA Alpha Bonds: volatility 1.92%, return 4.53% p.a.H2O Multibonds FCP: volatility 16.10%, return 10.96% p.a.PIMCO Capital Securities Fund: volatility 4.44%, return 10.21% p.a.Robeco Global SDG Credits: volatility 5.02%, return 2.95% p.a.Solitaire Global Bond Fund: volatility 5.56%, return 13.61% p.a.TCW Global Income Fund: volatility 4.83%, return 6.20% p.a.TCW Multi-Sector Fixed Income Fund: volatility 3.61%, return 6.31% p.a.Vanguard Emerging Markets Bond Fund: volatility 6.54%, return 10.45% p.a.Vontobel Emerging Markets Debt: volatility 6.85%, return 13.94% p.a.Vontobel TwentyFour Strategic Income Fund: volatility 4.32%, return 6.30% p.a.Robeco Corporate Hybrid bonds: volatility 3.06%, return 6.65% p.a.This fund

WSP commentary

Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.

Investment rationale

Robeco Corporate Hybrid Bonds IH EUR is a bond fund designed for long-term capital growth through exposure to global corporate hybrid bonds issued by non-financial companies. The PRIIPs document classifies it as risk indicator 2 out of 7 and gives a recommended holding period of 3 years, while also stating it is suitable for investors who can set aside capital for at least 3-5 years and accept volatility. It is intended for investors seeking ESG considerations as a binding element in the investment process while still seeking optimum returns, and it can serve capital growth, income and portfolio diversification objectives. Its distinct role is as a specialist allocation to deeply subordinated, equity-like corporate hybrids, mainly from investment grade issuers, rather than a broad conventional corporate bond holding.

Investment strategy

The fund is an actively managed UCITS SICAV sub-fund with the objective of providing long-term capital growth. It invests in global corporate hybrid bonds issued by non-financials, with selection based on fundamental analysis, and may also invest in hybrid capital of banks and insurers and in senior debt of non-financial corporates. The portfolio is primarily invested in BBB-rated bonds, with some BB-rated exposure that the manager states mainly reflects the subordinated nature of hybrid instruments rather than weaker underlying issuer quality; as of 31 August 2026, key sectors included Industrials, Utilities and Financials, with duration close to the benchmark and maturity of 4.66 years. The benchmark is the Bloomberg Global Corporate Hybrids 3% Issuer Cap (hedged into EUR), used for asset allocation purposes and long-run outperformance aims, while allowing substantial deviations and selection of securities outside the benchmark subject to limits on currencies and issuers. All currency risks are hedged, this share class is accumulating, derivatives may be used for hedging and investment purposes, the fund is daily tradable, and the recommended holding period is 3 years.

Investment philosophy

• The investment universe consists mainly of global corporate hybrid bonds issued by non-financial companies, which the documents describe as deeply subordinated bonds with equity-like features and mainly issued by investment grade issuers.

• Security selection is based on fundamental analysis, with the fund seeking best-in-class hybrid bonds with the best risk-return characteristics; the fund can also invest in hybrid capital of banks and insurers and in senior debt of non-financial corporates when these offer an attractive risk/return profile relative to the corporate hybrid market.

• The portfolio is built with active relative-value positioning against the Bloomberg Global Corporate Hybrids 3% Issuer Cap (hedged into EUR), while the manager states that relative risk is controlled through limits on currencies and issuers and by keeping interest-rate sensitivity aligned with the index, using interest-rate futures if needed.

• Current positioning is concentrated in hybrid securities, with 86.9% in hybrids, 7.3% in senior debt and 5.8% in cash and other instruments; sector weights include Industrials 40.2%, Utilities 38.0% and Financials 9.1%, and the largest holdings include Engie, OMV, Repsol Europe Finance, Oncor Electric Delivery, NextEra Energy Capital Holdings, Sempra, Enbridge, RWE, Dominion Energy and Volkswagen International Finance.

• From a currency and ratings perspective, the fund maintained an overweight in EUR-denominated hybrids and an underweight in USD-denominated hybrids, with limited GBP exposure, while remaining primarily invested in BBB-rated bonds and holding a smaller portion of BB-rated hybrids that reflect subordination rather than weaker underlying issuer quality.

Management team

The fund managers named in the factsheet are Daniel Ender and Jan Willem Knoll.

The asset manager

The management company is Robeco Institutional Asset Management B.V. The fund is a sub-fund of Robeco Capital Growth Funds, a Luxembourg SICAV, and the documents identify Robeco Institutional Asset Management B.V. as authorised in the Netherlands and regulated by the Autoriteit Financiële Markten. The manager is located in Rotterdam, The Netherlands, with the address Weena 850, 3014 DA Rotterdam stated in the complaints section.

Performance analysis

Source: manager factsheet dated 31 August 2026. The manager describes August as a month in which resilient macro data supported equities while long-dated government bonds sold off, particularly in Europe, and credit spreads finished modestly tighter. Looking ahead, the manager says robust fundamentals are colliding with a more hawkish policy backdrop, with inflation pressure linked to the Iran war energy shock, tighter central bank policy and spreads near multi-year tights viewed as thin compensation for risk.

Strengths

The fund offers specialised access to corporate hybrid bonds, a segment the documents describe as subordinated, equity-like instruments that can offer high yields for investment grade ratings. It combines this specialist focus with a global opportunity set, fundamental security selection and tactical sector and currency-denomination allocation within the corporate hybrid market. The share class is EUR-denominated with all currency risks hedged, is daily tradable, and does not distribute dividends. Ongoing charges are stated at 0.54%, with no performance fee.

Risks

The PRIIPs document classifies the fund as 2 out of 7 on the summary risk indicator, while the factsheet states that the value of shares is sensitive to market fluctuations, instrument prices and changes in political, economic or market conditions. Corporate bonds are described as more risky and volatile than government bonds, and the fund’s focus on deeply subordinated corporate hybrids adds structural credit and subordination risk; the PRIIPs document also notes that the fund invests or may invest in contingent convertible bonds that can convert into equity or face full or partial write-down upon a trigger event. Derivatives are used for hedging and investment purposes and can create leverage, increasing exposure to market fluctuations, while a derivative counterparty may fail to fulfil its obligations, with collateral exchange used to reduce counterparty risk. Currency risks are stated to be hedged, but the PRIIPs text notes that if an investor receives payments in a currency different from that of the home jurisdiction, final returns depend on exchange rates; the fund also promotes ESG characteristics under Article 8 and integrates sustainability risks, which the factsheet says may impact returns.

WSP report

The WSP report on this share class, as a PDF.

Download the WSP report (PDF)

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Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years.
– means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero.
Period figures as of 31.08.2026.

This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative