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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$8.45

$2.17 B

8.56%

$0.72

1.80%

Vitals

YTD Return

3.2%

1 yr return

-9.0%

3 Yr Avg Return

-3.6%

5 Yr Avg Return

-2.5%

Net Assets

$2.17 B

Holdings in Top 10

15.0%

52 WEEK LOW AND HIGH

$8.4
$8.19
$9.26

Expenses

OPERATING FEES

Expense Ratio 1.80%

SALES FEES

Front Load N/A

Deferred Load 1.00%

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

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$8.45

$2.17 B

8.56%

$0.72

1.80%

RSFCX - Profile

Distributions

  • YTD Total Return 3.2%
  • 3 Yr Annualized Total Return -3.6%
  • 5 Yr Annualized Total Return -2.5%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 3.09%
DIVIDENDS
  • Dividend Yield 8.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Victory Floating Rate Fund
  • Fund Family Name
    Victory
  • Inception Date
    Dec 31, 2009
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John 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, the Fund’s sub-adviser, (“Park Avenue”) expects that most or all of the investments held by the Fund will typically 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 is typically structured and administered by a financial institution that acts as the agent of the participating lenders. The Fund will typically 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 Standard & Poor’s Ratings Group, 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 will usually 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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RSFCX - Performance

Return Ranking - Trailing

Period RSFCX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.2% -6.9% 6.5% 14.43%
1 Yr -9.0% -18.6% 23.8% 84.23%
3 Yr -3.6%* -9.7% 55.5% 83.15%
5 Yr -2.5%* -7.9% 29.7% 75.97%
10 Yr N/A* -5.1% 13.9% 83.65%

* Annualized

Return Ranking - Calendar

Period RSFCX Return Category Return Low Category Return High Rank in Category (%)
2022 -12.2% -22.9% 5.5% 89.42%
2021 -0.1% -6.3% 5.5% 89.93%
2020 -0.3% -7.9% 57.4% 13.92%
2019 0.8% -2.1% 5.5% 41.42%
2018 -1.0% -4.2% 12.9% 55.34%

Total Return Ranking - Trailing

Period RSFCX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.2% -6.9% 6.5% 15.44%
1 Yr -9.0% -18.6% 24.7% 84.69%
3 Yr -3.6%* -9.7% 55.5% 83.68%
5 Yr -2.5%* -7.9% 29.7% 78.28%
10 Yr N/A* -5.1% 13.9% 80.38%

* Annualized

Total Return Ranking - Calendar

Period RSFCX Return Category Return Low Category Return High Rank in Category (%)
2022 -12.2% -22.9% 5.5% 89.42%
2021 -0.1% -6.3% 5.5% 89.93%
2020 -0.3% -7.9% 57.4% 13.92%
2019 0.8% -2.1% 5.5% 42.91%
2018 -1.0% -4.2% 12.9% 64.43%

NAV & Total Return History


RSFCX - Holdings

Concentration Analysis

RSFCX Category Low Category High RSFCX % Rank
Net Assets 2.17 B 25 M 13.1 B 35.64%
Number of Holdings 202 12 1447 84.26%
Net Assets in Top 10 351 M -191 M 2.54 B 31.15%
Weighting of Top 10 14.95% 4.6% 91.9% 47.18%

Top 10 Holdings

  1. Petco Animal 1.79%
  2. Petco Animal 1.79%
  3. Petco Animal 1.79%
  4. Petco Animal 1.79%
  5. Petco Animal 1.79%
  6. Petco Animal 1.79%
  7. Petco Animal 1.79%
  8. Petco Animal 1.79%
  9. Petco Animal 1.79%
  10. Petco Animal 1.79%

Asset Allocation

Weighting Return Low Return High RSFCX % Rank
Bonds
99.80% 28.71% 161.82% 5.57%
Cash
0.20% -61.90% 58.61% 95.08%
Stocks
0.00% 0.00% 51.23% 95.41%
Preferred Stocks
0.00% -3.99% 1.54% 85.90%
Other
0.00% -54.21% 26.58% 84.92%
Convertible Bonds
0.00% 0.00% 5.51% 90.49%

Bond Sector Breakdown

Weighting Return Low Return High RSFCX % Rank
Corporate
99.80% 0.00% 99.80% 1.32%
Cash & Equivalents
0.20% 0.00% 58.41% 97.04%
Derivative
0.00% 0.00% 7.03% 85.53%
Securitized
0.00% 0.00% 96.93% 92.11%
Municipal
0.00% 0.00% 0.47% 82.89%
Government
0.00% 0.00% 5.93% 86.84%

Bond Geographic Breakdown

Weighting Return Low Return High RSFCX % Rank
US
93.06% 14.05% 128.54% 6.23%
Non US
6.74% 0.00% 84.20% 77.70%

RSFCX - Expenses

Operational Fees

RSFCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.80% 0.03% 7.31% 25.71%
Management Fee 0.65% 0.00% 1.89% 63.28%
12b-1 Fee 1.00% 0.00% 1.00% 95.86%
Administrative Fee N/A 0.02% 0.27% N/A

Sales Fees

RSFCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% 95.31%
Deferred Load 1.00% 1.00% 3.00% 86.54%

Trading Fees

RSFCX 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.

RSFCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 35.00% 3.00% 215.00% 20.64%

RSFCX - Distributions

Dividend Yield Analysis

RSFCX Category Low Category High RSFCX % Rank
Dividend Yield 8.56% 0.00% 9.44% 38.80%

Dividend Distribution Analysis

RSFCX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

RSFCX Category Low Category High RSFCX % Rank
Net Income Ratio 3.09% 1.56% 10.22% 77.74%

Capital Gain Distribution Analysis

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

Distributions History

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RSFCX - 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 23.43 6.03 3.25