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 Member RSFMX
- NAV / 1-Day Return 8.04 / +0.03 %
- Total Assets 628.1 Mil
-
Adj. Expense Ratio
- Expense Ratio 0.850%
- Distribution Fee Level Average
- Share Class Type No Load
- Category Bank Loan
- Credit Quality / Interest Rate Sensitivity Low/Limited
- Min. Initial Investment 3,000
- Status Open
- TTM Yield 9.36%
- Effective Duration 0.41 years
USD | NAV as of Sep 25, 2024 | 1-Day Return as of Sep 25, 2024, 10:18 PM GMT+0
Morningstar’s Analysis RSFMX
Will RSFMX 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 12.9
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
---|---|---|---|
Knight Health Holdings Ll | 1.53 | 10.7 Mil | Corporate |
Caesars Entertainment Inc | 1.43 | 10.0 Mil | Corporate |
Fertitta Entertainment | 1.33 | 9.3 Mil | Corporate |
Station Casinos Llc | 1.29 | 9.0 Mil | Corporate |
Light & Wonder | 1.27 | 8.9 Mil | Corporate |
Cloud Software Group | 1.24 | 8.6 Mil | Corporate |
Bally's Corp | 1.23 | 8.6 Mil | Corporate |
Neptune Bidco Us Inc | 1.22 | 8.5 Mil | Corporate |
Invesco Senior Loan ETF | 1.18 | 8.2 Mil | — |
Northriver Midstream | 1.16 | 8.1 Mil | Corporate |