Voya Prime Rate Trust

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PPR : NYSE : Financial
$5.27 | %
Today's Range: 5.24 - 5.27
Avg. Daily Volume: 368,400
07/29/16 - 4:01 PM ET
  • Last Ratings Update:06/30/2016
  • Price as of 06/30/2016 :$5.11
  • Net Assets:$792.18 Million
  • NAV:$5.63
  • Premium-9.24%
  •   
  • Peer Rank:15 of 30
  • Investment Rating:C
  • Performance:C-
  • RiskB-
PPR Price Chart

SUMMARY


We rate Voya Prime Rate Trust at C. Positive factors that influence this rating include a low price volatility. 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 5.44% since inception. More recently, the fund has generated a total return of 3.06% in the last five years, 1.55% in the last three years, and 3.03% 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 33% of its competitors on a three year basis and 62% of them over the last year for the period ending 6/30/2016. On a year to date basis, PPR has returned 4.50%.

Downside risk has been below average. PPR has a draw down risk of -27.47%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 9.2%. This fund has had a low level of volatility in its monthly performance over the last 36 months. As of 6/30/2016, the fund was trading at a price of $5.11, which is 2.5% below its 52-week high of $5.24 and 2.2% above its 52-week low of $5.00.

High expense ratio hinders performance. On total assets of $792.18 million, PPR maintains a high expense ratio compared to its Loan Participation peers of 2.08% 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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