- Last Ratings Update:11/30/2014
- Price as of 11/30/2014 :$11.06
- Net Assets:$244.22 Million
- Peer Rank:49 of 77
- Investment Rating:D
We rate Voya Emerging Markets High Div Eqty at D. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Negative factors that influence this rating include a below average total return. The fund invests approximately 100% of its assets in stocks and may be considered for investors seeking an Emerging Market Equity strategy.
POSITIVES AND RISKS
Total return ranks below peers over the last three years. The Voya Emerging Markets High Div Eqty has returned an annual rate of -6.25% since inception. More recently, the fund has generated a total return of 3.59% in the last three years, 0.16% in the last year, and -6.57% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 28% of them. It has also outpaced 27% of its competitors on a one year basis for the period ending 11/30/2014. On a year to date basis, IHD has returned 1.19%.
Downside risk has been above average. IHD has a draw down risk of -31.27%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 18.0%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months. As of 11/30/2014, the fund was trading at a price of $11.06, which is 3.6% below its 52-week high of $11.47 and 1.1% above its 52-week low of $10.94.
High expense ratio hinders performance. On total assets of $244.22 million, IHD maintains a high expense ratio compared to its Emerging Market Equity peers of 1.41% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As IHD is a closed end fund, it has no front end or back end load.
Manager lacks tenure and performance record lags managerial peers. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The Voya Emerging Markets High Div Eqty has been managed by Edwin Cuppen for only 4 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than just 46% of other fund managers.
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