Yuji Sakai The Pioneer Floating Rate Fund ( NYSE: PHD ) is a closed-end fund that income-seeking investors can purchase as a means of achieving their goals of earning a high level of income from their portfolios. The fund does fairly well at this, as it boasts an 11.54% yield at the current share price.
This yield compares reasonably well with that of the fund’s peers: Fund Name Morningstar Classification Current Yield Pioneer Floating Rate Fund Fixed Income-Taxable-Senior Loans 11.54% Apollo Senior Floating Rate Fund ( AFT ) Fixed Income-Taxable-Senior Loans 11.41% BlackRock Floating Rate Income Trust ( BGT ) Fixed Income-Taxable-Senior Loans 11.
15% Eaton Vance Floating Rate Income Trust ( EFT ) Fixed Income-Taxable-Senior Loans 10.65% First Trust Senior Floating Rate Income Fund II ( FCT ) Fixed Income-Taxable-Senior Loans 11.28% Nuveen Floating Rate Income Fund ( JFR ) Fixed Income-Taxable-Senior Loans 11.
74% Click to enlarge As we can clearly see here, with the notable exception of the Eaton Vance Floating Rate Income Trust, all of the peer funds have yields in the 11.25% to 11.75% rate.
There is only a fifty basis-point spread here, so any of these looks to be reasonably good at the provision of income. However, that does not mean that all of these funds are the same, as the expense ratio and leverage are different between them. In addition, the actual composition of the portfolios can differ, which affects the risk profile of the fund.
As such, we should still have a .
