2 / 5 Stars
2 2 4 3 4
Zacks Investment Research
5 (Strong Sell)
Standard & Poor's
U.S. News evaluated 49 Bank Loan Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.
The fund has returned 4.18 percent over the past year, 4.27 percent over the past three years, 6.31 percent over the past five years, and 4.01 percent over the past decade.
|Trailing Returns||Updated 06.30.2014|
|Year to date||1.6%|
|3 Years (Annualized)||4.3%|
|5 Years (Annualized)||6.3%|
|10 Years (Annualized)||4.0%|
The investment seeks high current income. The fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in a portfolio of floating rate loans and other floating rate debt securities. When the fund's Manager believes that market or economic conditions are unfavorable to investors, up to 100% of the fund's assets may be invested in money market or short-term debt securities. The fund may invest up to 25% of its total assets in foreign securities which are generally U.S. dollar-denominated loans and other debt securities issued by one or more non-U.S. borrower(s) without a U.S. domiciled co-borrower.
Fees are Low compared to funds in the same category.
MainStay Floating Rate Fund has an expense ratio of 1.00 percent.
Risk is Below Average compared to funds in the same category according to Morningstar.