- Last Ratings Update:05/31/2014
- Price as of 05/31/2014 :$5.75
- Net Assets:$898.25 Million
- Peer Rank:18 of 24
- 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 5.88% since inception. More recently, the fund has generated a total return of 14.17% in the last five years, 4.37% 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 52% of them. It has also outpaced 34% of its competitors on a three year basis and 14% of them over the last year for the period ending 5/31/2014. On a year to date basis, PPR has returned 0.90%.
Downside risk has been below average. PPR has a draw down risk of -16.94%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 11.9%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 5/31/2014, the fund was trading at a price of $5.75, which is 0.7% below its 52-week high of $5.79 and 2.0% above its 52-week low of $5.64.
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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