Voya Prime Rate TrustFind Ratings Reports
- Last Ratings Update:10/31/2016
- Price as of 10/31/2016 :$5.31
- Net Assets:$792.18 Million
- Peer Rank:24 of 29
- Investment Rating:C
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 5.62% since inception. More recently, the fund has generated a total return of 6.95% in the last five years, 1.21% in the last three years, and 10.87% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 50% of them. It has also outpaced 37% of its competitors on a three year basis and 77% of them over the last year for the period ending 10/31/2016. On a year to date basis, PPR has returned 9.11%.
Downside risk has been below average. PPR has a draw down risk of -25.12%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 9.3%. This fund has had a low level of volatility in its monthly performance over the last 36 months. As of 10/31/2016, the fund was trading at a price of $5.31, which is 0.6% below its 52-week high of $5.34 and 2.3% above its 52-week low of $5.19.
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.