- Last Ratings Update:07/31/2015
- Price as of 07/31/2015 :$5.39
- Net Assets:$876.41 Million
- Peer Rank:8 of 28
- Investment Rating:C+
We rate Voya Prime Rate Trust at C+. Positive factors that influence this rating include a greater than above average total return and low price volatility. 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 5.64% since inception. More recently, the fund has generated a total return of 5.86% in the last five years, 4.67% in the last three years, and 2.50% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 42% of them. It has also outpaced 52% of its competitors on a three year basis and 54% of them over the last year for the period ending 7/31/2015. On a year to date basis, PPR has returned 4.71%.
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 8.3%. This fund has had very little volatility in its monthly performance over the last 36 months. As of 7/31/2015, the fund was trading at a price of $5.39, which is 1.1% below its 52-week high of $5.45 and 1.9% above its 52-week low of $5.29.
High expense ratio hinders performance. On total assets of $876.41 million, PPR maintains a high expense ratio compared to its Loan Participation peers of 2.09% 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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