--- title: Intrepid Capital Featured in Barron's description: Most high-yield bond investors buy debt issued by large-cap companies. Mark Travis & Hunter Hayes, managers of the $642 million Intrepid Income fund, prefer the small- to mid-cap pond. image: https://blog.intrepidcapitalfunds.com/hubfs/AdobeStock_370289964.jpeg --- [![Intrepid Capital](https://blog.intrepidcapitalfunds.com/hubfs/raw_assets/public/Intrepid_Capital_Funds_July2023/images/intrepid.svg "Intrepid Capital")](https://intrepidcapitalfunds.com/) Search for: Search for: ![AdobeStock_370289964](https://blog.intrepidcapitalfunds.com/hubfs/AdobeStock_370289964.jpeg) # Intrepid Capital Featured in Barron's Our founder, Mark Travis, and Chief Investment Officer, Hunter Hayes, were recently featured in Barron's. The article outlines our team's investment approach, including how we account for recent market volatility. *“There are a lot of overlooked credits that are begging for someone to turn over the rock and say, ‘Gosh, this might be a worthy investment.’”* [Read the Full Article Here >>](https://www.barrons.com/articles/top-high-yield-bond-fund-beat-peers-40e0f711) | Curious to learn more about Intrepid Capital’s underwriting process? [In this interview](https://info.intrepidcapitalfunds.com/roundtable-rigor), Hunter Hayes, Matt Parker, and Joe Van Cavage pull back the curtain on their highly engaged approach to identifying and analyzing risk. [![Intrepid Playing the Devils Advocate](https://blog.intrepidcapitalfunds.com/hs-fs/hubfs/2024.Q1-Intrepid-Devils-Advocate-Email-CTA-3.jpg?width=697&height=364&name=2024.Q1-Intrepid-Devils-Advocate-Email-CTA-3.jpg)](https://info.intrepidcapitalfunds.com/roundtable-rigor) ## [Stream the Interview Now!](https://info.intrepidcapitalfunds.com/roundtable-rigor) | | --- | For current fund performance and holdings, please refer to the fund page here [https://intrepidcapitalfunds.com/strategies/mutual-funds/income/overview/](https://intrepidcapitalfunds.com/strategies/mutual-funds/income/overview/) As of 3/31/26, the Intrepid Income Fund (Institutional Class) ranked in the top 12th percentile out of 356 funds, in the 1st percentile out of 339 funds, in the 1st percentile out of 305 funds, and in the 3rd percentile out of 216 funds in the Morningstar Multisector Bond category for the 1, 3, 5, and 10-year time periods respectively based on total return. The Fund received a 5-Star Morningstar rating for the Overall (out of 339), 5-year, and 10-year time period based on risk-adjusted returns. The Fund’s rankings and ratings may have been lower were it not for fee waivers in effect during the ranking periods. Ranking and ratings are relative to a peer group and do not necessarily mean the fund had high or positive total returns. The Morningstar RatingTM (“star rating”) is calculated for funds with at least a three-year history. Exchange-traded and open-end mutual funds are combined into a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each fund category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar RatingTM is a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year (if applicable) Morningstar RatingTM metrics. **The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance, please call 866-996-FUND or visit the Fund’s website at **[**http://www.intrepidcapitalfunds.com/**](http://www.intrepidcapitalfunds.com/)**.** Gross expense ratio 1.01%; Net expense ratio 1.01% reflects fee waiver in effect through January 31, 2027. Fund holdings are subject to change and risk. Mutual fund investing involves risk. Principal loss is possible. The Funds’ investment objectives, risks, charges and expenses must be considered carefully before investing. The [prospectus](https://intrepidcapitalfunds.com/resources/fund-documents/) contains this and other important information about the investment company. Please read it carefully before investing. A hard copy of the prospectus can be requested by calling 866-996-FUND (3863). Interest Rate Risk: When interest rates rise, the value of previously-issued bonds and other debt securities decreases.  An increase in interest rates typically causes a decline in the value of the debt securities in which the Fund may invest.  The value of your investment in the Fund may change in response to changes in the credit ratings of the Fund’s portfolio of debt securities.    The risk of investing in bonds and debt securities whose issuers may not be able to make interest and principal payments.  The risk of loss on investments in high yield securities or “junk bonds.” These securities are rated below investment grade, are usually less liquid, have greater credit risk than investment grade debt securities, and their market values tend to be volatile. Intrepid Capital Management Funds are distributed by Quasar Distributors, LLC. --- #### Share: - [Follow us on Twitter ](https://twitter.com/intent/tweet?url=https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-capital-featured-in-barrons&text=Intrepid%20Capital%20Featured%20in%20Barron's) - [Follow us on Linkedin ](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-capital-featured-in-barrons) - [Follow us on Mail ](mailto:?subject=Intrepid%20Capital%20Featured%20in%20Barrons%20&%20body=https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-capital-featured-in-barrons) --- [#### Short-Term View, Long-Term Results ##### Previous Post ](https://blog.intrepidcapitalfunds.com/advisor-insights/short-term-view-long-term-results) [#### Intrepid Capital & Hunter Hayes Featured in Bloomberg ##### Next Post ](https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-capital-hunter-hayes-featured-in-bloomberg) This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. ### Category - [ThinkAdvisor (9)](https://blog.intrepidcapitalfunds.com/advisor-insights/tag/thinkadvisor) - [News (5)](https://blog.intrepidcapitalfunds.com/advisor-insights/tag/news) - [Fixed Income (3)](https://blog.intrepidcapitalfunds.com/advisor-insights/tag/fixed-income) - [Short Duration (3)](https://blog.intrepidcapitalfunds.com/advisor-insights/tag/short-duration) - [Bonds (2)](https://blog.intrepidcapitalfunds.com/advisor-insights/tag/bonds) ### Popular Posts 02/22/2024 [ Demystifying Non-Rated Bonds ](https://blog.intrepidcapitalfunds.com/advisor-insights/demystifying-non-rated-bonds) 10/30/2023 [ Meet the Team: Hunter Hayes ](https://blog.intrepidcapitalfunds.com/advisor-insights/hunter-hayes) 07/24/2025 [ Intrepid Income Fund (ICMUX) Surpasses $1 Billion in Assets Under Management ](https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-income-fund-icmux-surpasses-1-billion-in-assets-under-management) 06/25/2024 [ Preferred Stocks: Potential Hidden Yield Gems ](https://blog.intrepidcapitalfunds.com/advisor-insights/preferred-stocks-potential-hidden-yield-gems) --- ## Related Posts It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. [ News](https://blog.intrepidcapitalfunds.com/advisor-insights/tag/news) [ Intrepid Capital ](https://blog.intrepidcapitalfunds.com/advisor-insights/author/intrepid-capital) 14 May, 2026 #### [Intrepid Income Fund (ICMUX) Wins 2026 LSEG Lipper Fund Awards for 5- and 10-Year Performance](https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-income-fund-icmux-wins-2026-lseg-lipper-fund-awards-for-5-and-10-year-performance) Fund recognized as Best Short High Yield Fund in the United States [Read More](https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-income-fund-icmux-wins-2026-lseg-lipper-fund-awards-for-5-and-10-year-performance) [ News](https://blog.intrepidcapitalfunds.com/advisor-insights/tag/news) [ Intrepid Capital ](https://blog.intrepidcapitalfunds.com/advisor-insights/author/intrepid-capital) 24 July, 2025 #### [Intrepid Income Fund (ICMUX) Surpasses $1 Billion in Assets Under Management](https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-income-fund-icmux-surpasses-1-billion-in-assets-under-management) JACKSONVILLE BEACH, FL — July 24, 2025— The Intrepid Income Fund (ICMUX) has officially surpassed [Read More](https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-income-fund-icmux-surpasses-1-billion-in-assets-under-management) [ News](https://blog.intrepidcapitalfunds.com/advisor-insights/tag/news) [ Intrepid Capital ](https://blog.intrepidcapitalfunds.com/advisor-insights/author/intrepid-capital) 19 September, 2024 #### [Intrepid Capital & Hunter Hayes Featured in Bloomberg](https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-capital-hunter-hayes-featured-in-bloomberg) In what many are calling “a big moment for the economy,” the Fed cut rates yesterday for the first [Read More](https://blog.intrepidcapitalfunds.com/advisor-insights/intrepid-capital-hunter-hayes-featured-in-bloomberg) Mutual fund investing involves risk. Principal loss is possible. The Funds’ investment objectives, risks, charges and expenses must be considered carefully before investing. The [prospectus](https://intrepidcapitalfunds.com/resources/fund-documents/) contains this and other important information about the investment company. Please read it carefully before investing. A hard copy of the prospectus can be requested by calling 866-996-FUND (3863). 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