Victory Floating Rate Fund
Name
As of 02/05/2025Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
1.5%
1 yr return
7.8%
3 Yr Avg Return
3.4%
5 Yr Avg Return
3.6%
Net Assets
$775 M
Holdings in Top 10
14.6%
52 WEEK LOW AND HIGH
$8.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.12%
SALES FEES
Front Load 2.25%
Deferred Load N/A
TRADING FEES
Turnover 35.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 02/05/2025Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
RSFLX - Profile
Distributions
- YTD Total Return 1.5%
- 3 Yr Annualized Total Return 3.4%
- 5 Yr Annualized Total Return 3.6%
- Capital Gain Distribution Frequency Semi-Annually
- Net Income Ratio 3.88%
- Dividend Yield 9.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVictory Floating Rate Fund
-
Fund Family NameVictory Portfolios
-
Inception DateAug 02, 2016
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Blaney
Fund Description
The Fund invests, under normal circumstances, at least 80% of its assets in floating rate loans and other floating rate investments. Park Avenue Institutional Advisers LLC (“Park Avenue”), the Fund’s sub-adviser, expects that most or all of the investments held by the Fund typically will be below investment grade. The Fund typically invests in senior secured corporate loans.Floating rate investments are debt obligations of companies or other entities that have interest rates that adjust or “float” periodically, normally on a daily, monthly, quarterly, or semiannual basis by reference to a base lending rate (such as LIBOR, or an alternate reference rate, such as the Prime Rate or Secured Overnight Financing Rate) plus a premium. A floating rate loan typically is structured and administered by a financial institution that acts as the agent of the participating lenders. The Fund typically will acquire loans directly in a transaction arranged through an agent or by assignment from another holder of the loan.Park Avenue considers several factors in purchasing and selling investments for the Fund, such as fundamental analysis of the issuer, the credit quality of the issuer and any collateral securing the investment, the issuer’s management, capital structure, leverage, and operational performance, and the business outlook for the industry of the issuer.Floating rate investments include, without limitation, floating rate debt securities, money market securities of all types, repurchase agreements, and shares of money market funds. For this purpose, the Fund considers floating rate investments to include investments whose interest rates do not by their terms reset prior to maturity but have maturities of six months or less. The Fund may invest up to 100% of its assets in obligations of foreign issuers, including sovereign and private issuers.The Fund may purchase second lien loans (secured loans with a claim on collateral subordinate to a senior lender’s claim on such collateral), fixed rate loans, unsecured loans, and other debt obligations, such as corporate bonds, government securities, repurchase agreements, and mortgage and other asset-backed securities.Park Avenue may sell investments when it believes that they no longer offer attractive potential future returns compared to other investment opportunities or that they present undesirable risks, or in an attempt to limit losses on investments that may decline or have declined in value.An investment will be considered to be below investment grade if it is rated Ba1 or lower by Moody’s Investors Service, Inc. and BB+ or lower by S&P Global Ratings, or if unrated, is considered by Park Avenue to be of comparable quality. A below-investment-grade rating reflects a greater possibility that the issuer of an investment may be unable to make timely payments of interest and principal and thus default. If this happens, or is perceived as likely to happen, the value of that investment usually will be more volatile and is likely to fall. Senior loans typically are of below-investment-grade quality and (if rated) have below-investment-grade credit ratings, which ratings are associated with securities having high risk, speculative characteristics (sometimes referred to as “junk”).The Fund may enter into exchange-traded or over-the-counter derivatives transactions of any kind, such as futures contracts, options on futures, and swap contracts, including, for example, interest rate swaps and credit default swaps. The Fund also may enter into exchange-traded or over-the-counter foreign currency exchange transactions, including currency futures, forward, and option transactions. The Fund may enter into any of these transactions for a variety of purposes, including, but not limited to, hedging various risks such as credit risk, interest rate risk, currency risk, and liquidity risk; taking a net long or short position in certain investments or markets; providing liquidity in the Fund; equitizing cash; minimizing transaction costs; generating income; adjusting the Fund’s sensitivity to interest rate risk, currency risk, or other risk; replicating certain direct investments; and asset and sector allocation.
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RSFLX - Performance
Return Ranking - Trailing
| Period | RSFLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.5% | -2.5% | 2.1% | 14.77% |
| 1 Yr | 7.8% | -4.9% | 10.8% | 64.02% |
| 3 Yr | 3.4%* | -6.9% | 8.4% | 91.12% |
| 5 Yr | 3.6%* | -4.7% | 38.2% | 80.50% |
| 10 Yr | N/A* | -0.5% | 20.0% | 39.90% |
* Annualized
Return Ranking - Calendar
| Period | RSFLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | -0.9% | -4.1% | 2.7% | 71.70% |
| 2023 | -1.0% | -12.0% | 11.1% | 98.87% |
| 2022 | -12.2% | -22.9% | 5.1% | 91.47% |
| 2021 | -0.1% | -12.2% | 11.1% | 93.25% |
| 2020 | -0.8% | -14.1% | 289.8% | 9.50% |
Total Return Ranking - Trailing
| Period | RSFLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.5% | -2.5% | 2.1% | 14.77% |
| 1 Yr | 7.8% | -4.9% | 10.8% | 64.02% |
| 3 Yr | 3.4%* | -6.9% | 8.4% | 91.12% |
| 5 Yr | 3.6%* | -4.7% | 38.2% | 80.50% |
| 10 Yr | N/A* | -0.5% | 20.0% | 50.72% |
* Annualized
Total Return Ranking - Calendar
| Period | RSFLX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 9.1% | -4.1% | 13.6% | 41.51% |
| 2023 | 9.8% | -12.0% | 22.1% | 89.06% |
| 2022 | -6.7% | -22.9% | 5.1% | 90.31% |
| 2021 | 4.3% | -10.2% | 11.1% | 65.87% |
| 2020 | 5.3% | -8.8% | 306.9% | 3.72% |
NAV & Total Return History
RSFLX - Holdings
Concentration Analysis
| RSFLX | Category Low | Category High | RSFLX % Rank | |
|---|---|---|---|---|
| Net Assets | 775 M | 29.9 M | 13.5 B | 49.42% |
| Number of Holdings | 145 | 2 | 2051 | 90.66% |
| Net Assets in Top 10 | 82.2 M | -191 M | 2.22 B | 56.81% |
| Weighting of Top 10 | 14.65% | 5.2% | 100.7% | 39.84% |
Top 10 Holdings
- KNIGHT HEALTH HOLDINGS LLC 2.27%
- CAESARS ENTERTAINMENT INC 1.70%
- LIGHT WONDER INTERNATIONAL INC 1.58%
- GLOBAL MEDICAL RESPONSE INC 1.40%
- SINCLAIR TELEVISION GROUP INC 1.39%
- CSC HOLDINGS LLC 1.36%
- TRAVERSE MIDSTREAM PARTNERS LLC 1.26%
- GATES CORP DE 1.25%
- INEOS US FINANCE LLC 1.23%
- REALPAGE INC 1.20%
Asset Allocation
| Weighting | Return Low | Return High | RSFLX % Rank | |
|---|---|---|---|---|
| Bonds | 97.49% | 0.00% | 161.82% | 22.18% |
| Cash | 1.66% | -61.90% | 16.36% | 65.76% |
| Stocks | 0.86% | 0.00% | 100.70% | 54.86% |
| Preferred Stocks | 0.00% | -3.99% | 7.54% | 53.70% |
| Other | 0.00% | -52.39% | 26.58% | 61.09% |
| Convertible Bonds | 0.00% | 0.00% | 5.51% | 55.69% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | RSFLX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | N/A |
| Technology | 0.00% | 0.00% | 100.00% | N/A |
| Real Estate | 0.00% | 0.00% | 48.61% | N/A |
| Industrials | 0.00% | 0.00% | 100.00% | N/A |
| Healthcare | 0.00% | 0.00% | 100.00% | N/A |
| Financial Services | 0.00% | 0.00% | 89.61% | N/A |
| Energy | 0.00% | 0.00% | 100.00% | N/A |
| Communication Services | 0.00% | 0.00% | 100.00% | N/A |
| Consumer Defense | 0.00% | 0.00% | 100.00% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 97.66% | N/A |
| Basic Materials | 0.00% | 0.00% | 1.36% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | RSFLX % Rank | |
|---|---|---|---|---|
| US | 0.86% | -0.01% | 100.70% | 54.86% |
| Non US | 0.00% | 0.00% | 0.68% | 39.69% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | RSFLX % Rank | |
|---|---|---|---|---|
| Corporate | 99.80% | 0.00% | 99.80% | 0.39% |
| Derivative | 0.00% | -11.46% | 0.67% | 45.14% |
| Cash & Equivalents | 0.00% | 0.00% | 25.03% | 88.33% |
| Securitized | 0.00% | 0.00% | 91.68% | 61.96% |
| Municipal | 0.00% | 0.00% | 0.47% | 29.02% |
| Government | 0.00% | 0.00% | 3.18% | 41.18% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | RSFLX % Rank | |
|---|---|---|---|---|
| US | 97.49% | 0.00% | 124.50% | 16.73% |
| Non US | 0.00% | 0.00% | 63.23% | 55.64% |
RSFLX - Expenses
Operational Fees
| RSFLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.12% | 0.03% | 5.51% | 49.62% |
| Management Fee | 0.65% | 0.00% | 1.89% | 55.30% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 24.81% |
| Administrative Fee | N/A | 0.02% | 0.27% | N/A |
Sales Fees
| RSFLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 2.25% | 1.00% | 5.75% | 85.19% |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| RSFLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
| RSFLX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 35.00% | 4.00% | 180.00% | 18.60% |
RSFLX - Distributions
Dividend Yield Analysis
| RSFLX | Category Low | Category High | RSFLX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 9.56% | 0.00% | 11.13% | 8.68% |
Dividend Distribution Analysis
| RSFLX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| RSFLX | Category Low | Category High | RSFLX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.88% | 1.77% | 9.82% | 32.41% |
Capital Gain Distribution Analysis
| RSFLX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Semi-Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jan 31, 2025 | $0.064 | OrdinaryDividend |
| Dec 31, 2024 | $0.063 | OrdinaryDividend |
| Nov 29, 2024 | $0.048 | OrdinaryDividend |
| Oct 31, 2024 | $0.069 | OrdinaryDividend |
| Sep 30, 2024 | $0.064 | OrdinaryDividend |
| Aug 30, 2024 | $0.059 | OrdinaryDividend |
| Jul 31, 2024 | $0.058 | OrdinaryDividend |
| Apr 30, 2024 | $0.055 | OrdinaryDividend |
| Mar 28, 2024 | $0.051 | OrdinaryDividend |
| Feb 29, 2024 | $0.062 | OrdinaryDividend |
| Jan 31, 2024 | $0.066 | OrdinaryDividend |
| Dec 29, 2023 | $0.067 | OrdinaryDividend |
| Nov 30, 2023 | $0.067 | OrdinaryDividend |
| Oct 31, 2023 | $0.068 | OrdinaryDividend |
| Sep 29, 2023 | $0.065 | OrdinaryDividend |
| Aug 31, 2023 | $0.072 | OrdinaryDividend |
| Jul 31, 2023 | $0.065 | OrdinaryDividend |
| Jun 30, 2023 | $0.064 | OrdinaryDividend |
| May 31, 2023 | $0.067 | OrdinaryDividend |
| Apr 28, 2023 | $0.063 | OrdinaryDividend |
| Mar 31, 2023 | $0.067 | OrdinaryDividend |
| Feb 28, 2023 | $0.058 | OrdinaryDividend |
| Jan 31, 2023 | $0.066 | OrdinaryDividend |
| Dec 30, 2022 | $0.058 | OrdinaryDividend |
| Nov 30, 2022 | $0.061 | OrdinaryDividend |
| Oct 31, 2022 | $0.054 | OrdinaryDividend |
| Sep 30, 2022 | $0.047 | OrdinaryDividend |
| Aug 31, 2022 | $0.045 | OrdinaryDividend |
| Jul 29, 2022 | $0.041 | OrdinaryDividend |
| Jun 30, 2022 | $0.037 | OrdinaryDividend |
| May 31, 2022 | $0.032 | OrdinaryDividend |
| Apr 29, 2022 | $0.030 | OrdinaryDividend |
| Mar 31, 2022 | $0.030 | OrdinaryDividend |
| Feb 28, 2022 | $0.029 | OrdinaryDividend |
| Jan 31, 2022 | $0.028 | OrdinaryDividend |
| Dec 31, 2021 | $0.035 | OrdinaryDividend |
| Nov 30, 2021 | $0.028 | OrdinaryDividend |
| Oct 29, 2021 | $0.032 | OrdinaryDividend |
| Sep 30, 2021 | $0.028 | OrdinaryDividend |
| Aug 31, 2021 | $0.029 | OrdinaryDividend |
| Jul 30, 2021 | $0.031 | OrdinaryDividend |
| Jun 30, 2021 | $0.029 | OrdinaryDividend |
| May 28, 2021 | $0.029 | OrdinaryDividend |
| Apr 30, 2021 | $0.031 | OrdinaryDividend |
| Mar 31, 2021 | $0.032 | OrdinaryDividend |
| Feb 26, 2021 | $0.031 | OrdinaryDividend |
| Jan 29, 2021 | $0.034 | OrdinaryDividend |
| Dec 31, 2020 | $0.039 | OrdinaryDividend |
| Nov 30, 2020 | $0.038 | OrdinaryDividend |
| Oct 30, 2020 | $0.041 | OrdinaryDividend |
| Sep 30, 2020 | $0.039 | OrdinaryDividend |
| Aug 31, 2020 | $0.038 | OrdinaryDividend |
| Jul 31, 2020 | $0.043 | OrdinaryDividend |
| Jun 30, 2020 | $0.041 | OrdinaryDividend |
| May 29, 2020 | $0.041 | OrdinaryDividend |
| Apr 30, 2020 | $0.040 | OrdinaryDividend |
| Mar 31, 2020 | $0.045 | OrdinaryDividend |
| Feb 28, 2020 | $0.041 | OrdinaryDividend |
| Jan 31, 2020 | $0.045 | OrdinaryDividend |
| Dec 31, 2019 | $0.045 | OrdinaryDividend |
| Nov 29, 2019 | $0.043 | OrdinaryDividend |
| Oct 31, 2019 | $0.048 | OrdinaryDividend |
| Sep 30, 2019 | $0.046 | OrdinaryDividend |
| Aug 30, 2019 | $0.045 | OrdinaryDividend |
| Jul 31, 2019 | $0.048 | OrdinaryDividend |
RSFLX - Fund Manager Analysis
Managers
John Blaney
Start Date
Tenure
Tenure Rank
May 01, 2013
9.09
9.1%
John Blaney joined Guardian in 2000 and is a co-manager of the Victory Floating Rate Fund and Victory High Yield Fund. John also co-manages the high yield bond and leveraged loan portfolios in the Guardian general account. During his tenure as senior credit analyst at Guardian, John covered nearly every high yield sector. Prior to joining Guardian, John was an investment analyst at MetLife. He has over 20 years of investment experience. John holds a B.S. in finance from Trenton State College and an MBA from Seton Hall University. He has a Chartered Financial Analyst (CFA) designation and is a
Andrew Liggio
Start Date
Tenure
Tenure Rank
Mar 15, 2021
1.21
1.2%
Andrew Liggio has co-managed the Victory Floating Rate Fund since March 2021. He is a managing director and head of the high yield and bank loan portfolio management group at Guardian Life. Before joining Guardian Life in 2016, he was a partner and analyst at Castle Hill Asset Management. He began his career as an auditor at Arthur Andersen and a credit assistant at The Bank of New York. Mr. Liggio holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute and the New York Society of Security Analysts.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 21.18 | 6.08 | 3.25 |