Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Voya Floating Rate Fund
IFRIX (Mutual Fund)
Voya Floating Rate Fund
Name
As of 12/11/2024Price
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
9.8%
1 yr return
9.9%
3 Yr Avg Return
5.0%
5 Yr Avg Return
3.6%
Net Assets
$225 M
Holdings in Top 10
6.2%
52 WEEK LOW AND HIGH
$8.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.92%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 89.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$250,000
IRA
$250,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
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
IFRIX - Profile
Distributions
- YTD Total Return 9.8%
- 3 Yr Annualized Total Return 5.0%
- 5 Yr Annualized Total Return 3.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.60%
- Dividend Yield 9.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameVoya Floating Rate Fund
-
Fund Family NameVoya
-
Inception DateAug 17, 2010
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeffrey 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”). The Fund will provide shareholders with at least 60 days’ prior notice of any change in this investment policy.The Fund normally invests substantially in floating rate loans. The floating rate loans in which the Fund invests are generally rated below investment grade and either hold the most senior position in the capital structure of the borrower, hold an equal ranking with other senior debt, or have characteristics (such as a senior position secured by liens on a borrower's assets) that the sub-adviser (the “Sub-Adviser”) believes justify treatment as senior debt. Below investment grade debt instruments are high-yield bonds commonly known as “junk bonds.” The Fund may invest in floating rate loans of companies whose financial condition is troubled or uncertain and that may be involved in bankruptcy proceedings, reorganizations, or financial restructurings. Structured notes include, but are not limited to, collateralized loan obligations (“CLOs”).Although the Fund has no restrictions on investment maturity, normally the floating rate loans will have remaining maturities of ten years or less.The Fund may invest in derivative instruments, including, but not limited to, the following: credit default swaps, interest rate swaps, futures, and forward contracts in order to seek to enhance returns or to attempt to hedge some of its investment risk.The Fund may invest up to 20% of its assets, measured at the time of purchase, in a combination of one or more of the following types of investments: high-yield bonds, senior or subordinated fixed rate debt instruments, including notes and bonds, whether secured and unsecured; equity securities: (i) as an incident to the purchase or ownership of Floating Rate Debt or fixed rate debt instruments; (ii) in connection with a restructuring of a borrower or issuer or its debt; or (iii) if the Fund already owns Floating Rate Debt or a fixed rate debt instrument of the issuer of such equity; short-term debt obligations, repurchase agreements, cash and cash equivalents that do not otherwise qualify as Floating Rate Debt; and other investment companies, including exchange-traded funds (“ETFs”), to the extent permitted under the Investment Company Act of 1940, as amended, and the rules and regulations thereunder, and under the terms of applicable no-action relief or exemptive orders granted thereunder. The other investment companies in which the Fund invests may or may not be affiliated with the Investment Adviser. High-yield bonds are debt instruments that, at the time of purchase, are not rated by a nationally recognized statistical rating organization (“NRSRO”) or are rated below investment grade (for example, rated below BBB- by S&P Global Ratings or Baa3 by Moody’s Investors Service, Inc.) or have an equivalent rating by a NRSRO.Most of the Fund’s investments will be denominated in U.S. dollars, although the Fund may invest in securities of foreign (non-U.S.) companies, foreign (non-U.S.) dollar denominated loans and securities (e.g., denominated in Euros, British pounds, Swiss francs or Canadian dollars), foreign (non-U.S.) sovereign debt instruments, and Eurodollar bonds and obligations. The Fund may invest a portion of its assets in obligations of issuers in, or denominated in currencies of, emerging market countries.In evaluating investments for the Fund, the Sub-Adviser takes into account a wide variety of factors and considerations to determine whether any or all of those factors or considerations might have a material effect on the value, risks, or prospects of an investment. Among the factors considered, the Sub-Adviser expects typically to take into account environmental, social, and governance (“ESG”) factors to determine whether one or more factors may have a material effect. In considering ESG factors, the Sub-Adviser intends to rely primarily on factors identified through its proprietary empirical research and on third-party evaluations of an issuer’s ESG standing. ESG factors will be only one of many considerations in the Sub-Adviser’s evaluation of any potential investment; the extent to which ESG factors will affect the Sub-Adviser’s decision to invest in an issuer, if at all, will depend on the analysis and judgment of the Sub-Adviser.The Sub-Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising.
Read More
IFRIX - Performance
Return Ranking - Trailing
| Period | IFRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.8% | -3.4% | 10.8% | 4.53% |
| 1 Yr | 9.9% | -3.2% | 12.9% | 25.28% |
| 3 Yr | 5.0%* | -6.8% | 7.9% | 71.60% |
| 5 Yr | 3.6%* | -6.1% | 38.3% | 82.57% |
| 10 Yr | 3.4%* | -1.9% | 20.0% | 72.53% |
* Annualized
Return Ranking - Calendar
| Period | IFRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.5% | -12.0% | 11.1% | 89.81% |
| 2022 | -9.6% | -22.9% | 5.1% | 77.91% |
| 2021 | 0.9% | -12.2% | 11.1% | 54.76% |
| 2020 | -5.5% | -14.1% | 289.8% | 84.71% |
| 2019 | 1.1% | -8.1% | 7.5% | 86.81% |
Total Return Ranking - Trailing
| Period | IFRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.8% | -3.4% | 10.8% | 4.53% |
| 1 Yr | 9.9% | -3.2% | 12.9% | 25.28% |
| 3 Yr | 5.0%* | -6.8% | 7.9% | 71.60% |
| 5 Yr | 3.6%* | -6.1% | 38.3% | 82.57% |
| 10 Yr | 3.4%* | -1.9% | 20.0% | 72.53% |
* Annualized
Total Return Ranking - Calendar
| Period | IFRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.0% | -12.0% | 22.1% | 62.64% |
| 2022 | -4.5% | -22.9% | 5.1% | 77.13% |
| 2021 | 4.7% | -10.2% | 11.1% | 50.40% |
| 2020 | -1.3% | -14.1% | 306.9% | 83.47% |
| 2019 | 7.1% | -3.6% | 10.5% | 59.15% |
NAV & Total Return History
IFRIX - Holdings
Concentration Analysis
| IFRIX | Category Low | Category High | IFRIX % Rank | |
|---|---|---|---|---|
| Net Assets | 225 M | 29.9 M | 13.5 B | 75.68% |
| Number of Holdings | 419 | 2 | 2051 | 35.41% |
| Net Assets in Top 10 | 13.3 M | -191 M | 2.37 B | 93.00% |
| Weighting of Top 10 | 6.23% | 5.2% | 100.7% | 94.53% |
Top 10 Holdings
- Acrisure, LLC 11/06/2030 0.75%
- Broad Street P 05/10/2031 0.70%
- Sedgwick Holdings, Inc. 0.66%
- Peraton Corp 0.66%
- AssuredPartner 02/14/2031 0.62%
- Ultimate Krono 01/31/2031 0.58%
- Great Outdoors Group LLC 0.57%
- MEDLINE BORROW 10/23/2028 0.57%
- athenahealth, 02/01/2029 0.56%
- USI INC 09/07/2030 0.55%
Asset Allocation
| Weighting | Return Low | Return High | IFRIX % Rank | |
|---|---|---|---|---|
| Bonds | 104.07% | 0.00% | 161.82% | 7.00% |
| Cash | 0.29% | -61.90% | 16.36% | 82.49% |
| Stocks | 0.19% | 0.00% | 100.74% | 78.99% |
| Preferred Stocks | 0.00% | -3.99% | 7.54% | 31.91% |
| Other | 0.00% | -52.39% | 26.58% | 68.48% |
| Convertible Bonds | 0.00% | 0.00% | 5.51% | 66.27% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | IFRIX % Rank | |
|---|---|---|---|---|
| Communication Services | 94.08% | 0.00% | 100.00% | 11.30% |
| Technology | 5.92% | 0.00% | 100.00% | 7.83% |
| Utilities | 0.00% | 0.00% | 100.00% | 51.30% |
| Real Estate | 0.00% | 0.00% | 48.61% | 41.74% |
| Industrials | 0.00% | 0.00% | 100.00% | 66.96% |
| Healthcare | 0.00% | 0.00% | 100.00% | 44.35% |
| Financial Services | 0.00% | 0.00% | 89.61% | 43.48% |
| Energy | 0.00% | 0.00% | 100.00% | 69.57% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 53.04% |
| Consumer Cyclical | 0.00% | 0.00% | 97.66% | 57.39% |
| Basic Materials | 0.00% | 0.00% | 1.36% | 41.74% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | IFRIX % Rank | |
|---|---|---|---|---|
| US | 0.19% | -0.01% | 100.74% | 76.65% |
| Non US | 0.00% | 0.00% | 0.68% | 54.09% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | IFRIX % Rank | |
|---|---|---|---|---|
| Corporate | 95.69% | 0.00% | 99.80% | 17.25% |
| Securitized | 0.31% | 0.00% | 91.68% | 41.18% |
| Cash & Equivalents | 0.29% | 0.00% | 25.03% | 75.10% |
| Derivative | 0.00% | -11.46% | 0.67% | 60.70% |
| Municipal | 0.00% | 0.00% | 0.47% | 46.67% |
| Government | 0.00% | 0.00% | 3.18% | 57.25% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | IFRIX % Rank | |
|---|---|---|---|---|
| US | 104.07% | 0.00% | 124.50% | 4.67% |
| Non US | 0.00% | 0.00% | 63.23% | 67.70% |
IFRIX - Expenses
Operational Fees
| IFRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.92% | 0.03% | 5.51% | 64.77% |
| Management Fee | 0.65% | 0.00% | 1.89% | 60.23% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.02% | 0.27% | 47.14% |
Sales Fees
| IFRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| IFRIX 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.
| IFRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 89.00% | 4.00% | 180.00% | 78.93% |
IFRIX - Distributions
Dividend Yield Analysis
| IFRIX | Category Low | Category High | IFRIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 9.09% | 0.00% | 11.13% | 2.64% |
Dividend Distribution Analysis
| IFRIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| IFRIX | Category Low | Category High | IFRIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.60% | 1.77% | 9.82% | 49.80% |
Capital Gain Distribution Analysis
| IFRIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.062 | OrdinaryDividend |
| Oct 31, 2024 | $0.085 | OrdinaryDividend |
| Sep 30, 2024 | $0.083 | OrdinaryDividend |
| Aug 31, 2024 | $0.086 | OrdinaryDividend |
| Jul 31, 2024 | $0.086 | OrdinaryDividend |
| Apr 30, 2024 | $0.084 | OrdinaryDividend |
| Mar 28, 2024 | $0.072 | OrdinaryDividend |
| Feb 29, 2024 | $0.067 | OrdinaryDividend |
| Jan 31, 2024 | $0.072 | OrdinaryDividend |
| Dec 29, 2023 | $0.072 | OrdinaryDividend |
| Nov 30, 2023 | $0.067 | OrdinaryDividend |
| Oct 31, 2023 | $0.064 | OrdinaryDividend |
| Sep 30, 2023 | $0.065 | OrdinaryDividend |
| Aug 31, 2023 | $0.067 | OrdinaryDividend |
| Jul 31, 2023 | $0.066 | OrdinaryDividend |
| Jun 30, 2023 | $0.062 | OrdinaryDividend |
| May 31, 2023 | $0.064 | OrdinaryDividend |
| Apr 28, 2023 | $0.058 | OrdinaryDividend |
| Mar 31, 2023 | $0.064 | OrdinaryDividend |
| Feb 28, 2023 | $0.058 | OrdinaryDividend |
| Jan 31, 2023 | $0.060 | OrdinaryDividend |
| Dec 30, 2022 | $0.057 | OrdinaryDividend |
| Nov 30, 2022 | $0.053 | OrdinaryDividend |
| Oct 31, 2022 | $0.043 | OrdinaryDividend |
| Sep 30, 2022 | $0.042 | OrdinaryDividend |
| Aug 31, 2022 | $0.042 | OrdinaryDividend |
| Jul 29, 2022 | $0.036 | OrdinaryDividend |
| Jun 30, 2022 | $0.032 | OrdinaryDividend |
| May 31, 2022 | $0.031 | OrdinaryDividend |
| Apr 30, 2022 | $0.028 | OrdinaryDividend |
| Mar 31, 2022 | $0.026 | OrdinaryDividend |
| Feb 28, 2022 | $0.025 | OrdinaryDividend |
| Jan 31, 2022 | $0.029 | OrdinaryDividend |
| Dec 31, 2021 | $0.028 | OrdinaryDividend |
| Nov 30, 2021 | $0.026 | OrdinaryDividend |
| Oct 29, 2021 | $0.027 | OrdinaryDividend |
| Sep 30, 2021 | $0.026 | OrdinaryDividend |
| Aug 31, 2021 | $0.028 | OrdinaryDividend |
| Jul 30, 2021 | $0.028 | OrdinaryDividend |
| Jun 30, 2021 | $0.026 | OrdinaryDividend |
| May 28, 2021 | $0.024 | OrdinaryDividend |
| Apr 30, 2021 | $0.025 | OrdinaryDividend |
| Mar 31, 2021 | $0.025 | OrdinaryDividend |
| Feb 26, 2021 | $0.022 | OrdinaryDividend |
| Jan 29, 2021 | $0.025 | OrdinaryDividend |
| Dec 31, 2020 | $0.024 | OrdinaryDividend |
| Nov 30, 2020 | $0.024 | OrdinaryDividend |
| Oct 30, 2020 | $0.025 | OrdinaryDividend |
| Sep 30, 2020 | $0.024 | OrdinaryDividend |
| Aug 31, 2020 | $0.024 | OrdinaryDividend |
| Jul 31, 2020 | $0.026 | OrdinaryDividend |
| Jun 30, 2020 | $0.025 | OrdinaryDividend |
| May 29, 2020 | $0.027 | OrdinaryDividend |
| Apr 30, 2020 | $0.031 | OrdinaryDividend |
| Mar 31, 2020 | $0.036 | OrdinaryDividend |
| Feb 28, 2020 | $0.034 | OrdinaryDividend |
| Jan 31, 2020 | $0.038 | OrdinaryDividend |
| Dec 31, 2019 | $0.039 | OrdinaryDividend |
| Nov 29, 2019 | $0.039 | OrdinaryDividend |
| Oct 31, 2019 | $0.040 | OrdinaryDividend |
| Sep 30, 2019 | $0.040 | OrdinaryDividend |
| Aug 30, 2019 | $0.044 | OrdinaryDividend |
| Jul 31, 2019 | $0.045 | OrdinaryDividend |
| Jun 28, 2019 | $0.044 | OrdinaryDividend |
| Dec 16, 2011 | $0.059 | CapitalGainShortTerm |
| Dec 16, 2011 | $0.000 | CapitalGainLongTerm |
| Dec 16, 2010 | $0.009 | CapitalGainShortTerm |
IFRIX - Fund Manager Analysis
Managers
Jeffrey Bakalar
Start Date
Tenure
Tenure Rank
Aug 17, 2010
11.79
11.8%
Jeff Bakalar is managing director, group head and chief investment officer of the Voya Investment Management senior loan group. He co-manages the group with Dan Norman, and he is chairman of the group’s investment committee. Jeff is currently a member of the board of directors of the Loan Syndications and Trading Association. Jeff received his MBA from DePaul University. Experience Company: 20 yrs
Kelly Byrne
Start Date
Tenure
Tenure Rank
May 31, 2021
1.0
1.0%
Kelly Byrne, CFA, Portfolio Manager and Senior Vice President of the Voya IM Senior Loan Group, since 2005.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 21.18 | 6.08 | 3.25 |
