Victory Floating Rate Fund’s returns looked attractive prior to 2022, but after the 12 months ending August 2023, they no longer do. The fund’s Y share class ended that period last among its distinct peers; it underperformed its median peer by more than 450 basis points and the category index, the Morningstar LSTA US LL Index, by more than 500. This reflected some poor sector choices—media and healthcare in particular—that got hit especially hard in the confluence of inflation- and coronavirus-labor-shortages-driven increased labor costs (healthcare) and reduced advertising due to recession concerns (media). Still, our overall assessment of the strategy stands: It’s not a standout in either positive or negative ways.
Victory Floating Rate R RSFKX
- NAV / 1-Day Return 8.15 / —
- Total Assets 775.7 Mil
-
Adj. Expense Ratio
- Expense Ratio 1.570%
- Distribution Fee Level High
- Share Class Type Retirement, Medium
- Category Bank Loan
- Credit Quality / Interest Rate Sensitivity Low/Limited
- Min. Initial Investment —
- Status Open
- TTM Yield 8.96%
- Effective Duration 0.41 years
USD | NAV as of Mar 29, 2024 | 1-Day Return as of Mar 29, 2024, 12:11 AM GMT+0
Morningstar’s Analysis RSFKX
Will RSFKX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 12.5
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
---|---|---|---|
Federal Home Loan Banks 0% | 2.94 | 23.8 Mil | Cash and Equivalents |
Traverse Midstream Part | 1.55 | 12.6 Mil | Corporate |
Bally's Corp | 1.53 | 12.4 Mil | Corporate |
Hertz Corp/The | 1.47 | 11.9 Mil | Corporate |
Caesars Entertainment Inc | 1.24 | 10.0 Mil | Corporate |
Cash | 1.22 | 9.9 Mil | Cash and Equivalents |
Delek Us Holdings | 1.22 | 9.9 Mil | Corporate |
Knight Health Holdings Ll | 1.21 | 9.8 Mil | Corporate |
Cumulus Media New | 1.20 | 9.7 Mil | Corporate |
Lbm Acquisition Llc | 1.19 | 9.6 Mil | Corporate |