- Last Ratings Update:02/28/2015
- Price as of 02/28/2015 :$5.49
- Net Assets:$898.25 Million
- Peer Rank:9 of 29
- Investment Rating:C
We rate Voya Prime Rate Trust at C. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a greater than average total return. The fund may be considered for investors seeking a Loan Participation strategy.
POSITIVES AND RISKS
Total return ranks above peers over the last three years. The Voya Prime Rate Trust has returned an annual rate of 5.71% since inception. More recently, the fund has generated a total return of 4.74% in the last five years, 6.99% in the last three years, and 0.07% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 29% of them. It has also outpaced 51% of its competitors on a three year basis and 31% of them over the last year for the period ending 2/28/2015. On a year to date basis, PPR has returned 3.93%.
Downside risk has been below average. PPR has a draw down risk of -21.41%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 8.6%. This fund has had very little volatility in its monthly performance over the last 36 months. As of 2/28/2015, the fund was trading at a price of $5.49, which is 1.6% below its 52-week high of $5.58 and 5.2% above its 52-week low of $5.22.
High expense ratio hinders performance. On total assets of $898.25 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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