- Last Ratings Update:12/31/2014
- Price as of 12/31/2014 :$5.31
- Net Assets:$879.2 Million
- Peer Rank:10 of 27
- Investment Rating:C
We rate Voya Prime Rate Trust at C. The fund may be considered for investors seeking a Loan Participation strategy.
POSITIVES AND RISKS
Total return ranks below peers over the last three years. The Voya Prime Rate Trust has returned an annual rate of 5.55% since inception. More recently, the fund has generated a total return of 5.85% in the last five years, 7.06% in the last three years, and -2.39% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 37% of them. It has also outpaced 44% of its competitors on a three year basis and 28% of them over the last year for the period ending 12/31/2014. On a year to date basis, PPR has returned -2.39%.
Downside risk has been below average. PPR has a draw down risk of -20.51%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 9.0%. This fund has had very little volatility in its monthly performance over the last 36 months. As of 12/31/2014, the fund was trading at a price of $5.31, which is 3.5% below its 52-week high of $5.50 and 1.7% above its 52-week low of $5.22.
High expense ratio hinders performance. On total assets of $879.20 million, PPR maintains a high expense ratio compared to its Loan Participation peers of 2.15% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As PPR is a closed end fund, it has no front end or back end load.
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