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IFRIX Voya Floating Rate I

  • Fund
  • IFRIX
  • Price as of: May 25, 2017
  • $9.91
  • - $0.00
  • - 0.00%
  • Category
  • Bank Loan

IFRIX - Profile

Vitals

  • YTD Return -0.5%
  • 3 Yr Annualized Return 3.2%
  • 5 Yr Annualized Return 4.0%
  • Net Assets $1.93 B
  • Holdings in Top 10 7.4%

52 WEEK LOW AND HIGH

$9.91
$9.76
$9.97

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.79%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 46.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$250,000

IRA

$250,000

Investment Themes

CATEGORY

Bank Loan
  • Fund Type Open End Mutual Fund
  • Investment Style Bank Loan

Distributions

  • YTD Total Return -0.5%
  • 3 Yr Annualized Total Return 3.2%
  • 5 Yr Annualized Total Return 4.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.12%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Voya Floating Rate Fund
  • Fund Family Name Voya
  • Inception Date Aug 17, 2010
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Jeffrey A. Bakalar

Fund Description

Under normal market conditions, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in U.S. dollar denominated floating rate loans and other floating rate debt instruments, including: floating rate bonds; floating rate notes; money market instruments with a remaining maturity of 60 days or less; floating rate debentures; and tranches of floating rate asset-backed securities, including structured notes, made to, or issued by, U.S. and non-U.S. corporations or other business entities (collectively "Floating Rate Debt").

IFRIX - Performance

Return Ranking - Trailing

Period IFRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.5% -1.1% 4.4% 58.77% 5
1 Yr 5.5% -1.0% 12.4% 78.30% 4
3 Yr 3.2% * -0.4% 5.5% 36.54% 2
5 Yr 4.0% * 1.0% 6.6% 40.00% 2
10 Yr N/A * 0.0% 5.4% N/A N/A

* Annualized


Return Ranking - Calendar

Period IFRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 3.2% -5.3% 7.9% 57.42% 5
2015 -3.5% -12.2% 0.0% 19.81% 2
2014 -2.2% -6.9% 0.0% 5.37% 1
2013 0.2% -1.3% 12.5% 63.07% 5
2012 3.3% 0.0% 11.2% 47.59% 4

Total Return Ranking - Trailing

Period IFRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.5% -1.1% 4.4% 58.77% 5
1 Yr 5.5% -1.7% 12.4% 59.43% 3
3 Yr 3.2% * -0.5% 5.5% 27.40% 2
5 Yr 4.0% * 1.0% 6.6% 34.86% 2
10 Yr N/A * 0.0% 5.4% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period IFRIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 3.2% -5.3% 10.8% 65.07% 5
2015 -3.5% -12.2% 2.9% 28.50% 2
2014 -2.2% -6.9% 2.9% 20.98% 2
2013 0.2% -1.3% 12.5% 65.34% 5
2012 3.3% 0.0% 16.9% 55.42% 4

NAV & Total Return History

IFRIX - Holdings

Filings data as of: Mar 31, 2017

Concentration Analysis

IFRIX Category Low Category High IFRIX % Rank Quintile
Net Assets 1.93 B 36.5 M 14.9 B 9.91% 2
Number of Holdings 400 56 1271 11.79% 3
Net Assets in Top 10 146 M -331 M 1.61 B 12.26% 3
Weighting of Top 10 7.4% 6.0% 224.2% 23.11% 5

Top 10 Holdings

  1. Dell Inc. 2017 Term Loan B 1.08%
  2. Avolon Tlb Borrower 1 (Luxembourg) S.A.R.L. Term Loan B2 0.87%
  3. Grifols Worldwide Operations Usa, Inc. 2017 Acquisition Term Loan 0.77%
  4. Petsmart, Inc. 0.74%
  5. Univision Communications Inc. Term Loan C5 0.73%
  6. Amaya Holdings B.V. Repriced Term Loan B 0.67%
  7. Western Digital Corporation 2017 Usd Term Loan B 0.63%
  8. Reynolds Group Holdings Inc. Usd 2017 Term Loan 0.63%
  9. Advantage Sales & Marketing, Inc. 2014 1st Lien Term Loan 0.62%
  10. Communications Sales & Leasing, Inc. 2017 Term Loan B 0.61%

Asset Allocation

Weighting Category Low Category High IFRIX % Rank Quintile
Bonds
84.32% 5.65% 100.69% 21.70% 5
Cash
11.09% -1.60% 87.26% 7.55% 2
Other
4.53% -15.31% 10.05% 8.49% 2
Stocks
0.05% 0.00% 9.57% 12.26% 3
Preferred Stocks
0.00% 0.00% 1.09% 5.66% 4
Convertible Bonds
0.00% 0.00% 3.27% 6.60% 3

Stock Sector Breakdown

Weighting Category Low Category High IFRIX % Rank Quintile
Consumer Cyclical
0.03% 0.00% 0.85% 6.98% 2
Utilities
0.00% 0.00% 0.69% 8.14% 4
Technology
0.00% 0.00% 0.00% 0.58% 3
Real Estate
0.00% 0.00% 0.61% 1.16% 3
Industrials
0.00% 0.00% 0.00% 0.58% 3
Healthcare
0.00% 0.00% 0.08% 1.16% 3
Financial Services
0.00% 0.00% 0.09% 2.33% 3
Energy
0.00% 0.00% 1.33% 6.98% 4
Communication Services
0.00% 0.00% 0.14% 2.33% 3
Consumer Defense
0.00% 0.00% 0.13% 3.49% 3
Basic Materials
0.00% 0.00% 1.30% 8.14% 4

Stock Geographic Breakdown

Weighting Category Low Category High IFRIX % Rank Quintile
US
0.05% 0.00% 9.57% 11.79% 3
Non US
0.00% 0.00% 0.64% 2.83% 3

Bond Sector Breakdown

Weighting Category Low Category High IFRIX % Rank Quintile
Corporate
83.16% 0.00% 96.98% 14.62% 3
Cash & Equivalents
11.09% -2.94% 164.55% 7.08% 2
Derivative
0.00% -33.31% 4.87% 3.30% 3
Securitized
0.00% 0.00% 29.36% 15.09% 4
Municipal
0.00% 0.00% 1.96% 2.36% 3
Government
0.00% -115.02% 28.47% 8.02% 4

Bond Geographic Breakdown

Weighting Category Low Category High IFRIX % Rank Quintile
US
78.17% -54.19% 89.05% 6.60% 2
Non US
6.15% 0.00% 82.97% 24.53% 5

IFRIX - Expenses

Operational Fees

IFRIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.79% 0.56% 2.81% 40.57% 1
Management Fee 0.65% 0.15% 1.00% 4.25% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.10% 0.01% 0.40% 7.63% 2

Sales Fees

IFRIX Fees (% of AUM) Category Low Category High IFRIX Rank Quintile
Front Load N/A 0.75% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

IFRIX Fees (% of AUM) Category Low Category High IFRIX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

IFRIX Fees (% of AUM) Category Low Category High IFRIX Rank Quintile
Turnover 46.00% 13.00% 168.00% 11.79% 3

IFRIX - Distributions

Dividend Yield Analysis

IFRIX Category Low Category High IFRIX % Rank Quintile
Dividend Yield 0.4% 0.14% 1.25% 30.62% 2

Dividend Distribution Analysis

IFRIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

IFRIX Category Low Category High IFRIX % Rank Quintile
Net Income Ratio 4.12% 1.34% 6.09% 34.43% 3

Capital Gain Distribution Analysis

IFRIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

IFRIX - Managers

Jeffrey A. Bakalar

Manager

Start Date

Aug 17, 2010

Tenure

6.71

Tenure Rank

5.9%

Jeffrey Bakalar Managing Director and Group Head Jeff Bakalar is managing director and group head of the Voya Investment Management senior loan group. He co-manages the group with Dan Norman, and he is co-chairman of the group’s investment committee. Jeff has over twenty-five years of investment and banking experience. Jeff joined the firm’s predecessor in 1998 and became part of the investment team for what is now Voya Prime Rate Trust. He became the co-head of the firm’s senior loan business in January of 2000 and, with Dan Norman, created and implemented the Voya Senior Loan Strategy in January of 2001. Jeff is currently a member of the board of directors of the Loan Syndications and Trading Association. Jeff began his career as an associate with Continental Bank in 1987, serving in various credit and corporate finance roles, including establishing and managing derivatives trading lines with international bank counterparties, and structuring and monitoring various classes of asset-backed transactions. In 1994, Jeff joined the Communications Division within The First National Bank of Chicago, ultimately serving as a senior underwriter responsible for structuring and managing leveraged transactions for issuers in the broadcasting and media sectors. Jeff received his BS degree in finance with honors from the University of Illinois Chicago in 1986, and his MBA in finance with highest distinction from DePaul University in 1992.


Daniel A. Norman

Manager

Start Date

Aug 17, 2010

Tenure

6.71

Tenure Rank

5.9%

Dan Norman Managing Director and Group Head Dan Norman is managing director and group head of the Voya Investment Management senior loan group. He co-manages the group with Jeff Bakalar, and he is co-chairman of the group’s investment committee. Dan has over twenty-five years of investment experience. He began managing senior loan portfolios in 1995 when the firm’s predecessor acquired the management rights to what is now Voya Prime Rate Trust. Dan became the co-head of the firm’s senior loan business in January of 2000 and, with Jeff Bakalar, created and implemented the senior loan strategy in January of 2001. Dan is a former member of the board of directors of the Loan Syndications and Trading Association and the International Association of Credit Portfolio Managers. Dan has a wide variety of business and investment experience, having begun his career at Arthur Andersen & Co. in 1981. He joined the firm’s predecessor in 1992. Dan received his BA degree in 1980 from the University of Nebraska and completed the University of Nebraska MBA program in 1981.


Tenure Analysis

Category Low

0.2

Category High

20.7

Category Average

6.18

Category Mode

2.3