Columbia Income Opportunities Fund Institutional Class shares returned -0.27% for the quarter ending March 31, 2026.
The fund's benchmark, ICE BofA BB-B US Cash Pay High Yield Constrained Index, returned -0.38% for the same period.
Given our constructive view of the fundamentals for the average high-yield company, we expect defaults to see only a modest increase from current levels over the medium term, remaining below longer-term averages.
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Market overview
The ICE BofA BB-B US Cash Pay High Yield Constrained Index (the benchmark) returned -0.38% during the first quarter. Lower-quality issues underperformed materially, with BB, B, and CCC rated issues returning -0.40%, -0.39%, and -2.97%, respectively. Overall, spreads ended 53 basis points (bps) wider. (A basis point is 1/100 of
