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Hartford Floating Rate Fund

Explore Another ETFs

Objective

Seeks to provide high current income and long-term total return.

Overview

A fund that typically invests in floating-rate loans and securities that are below-investment-grade.

More About Floating Rate Fund 

Performance

Performance (%)
% (as of 11/30/2017)
Average Annual Total Returns % (as of 11/30/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate  I 4.07 5.71 3.74 3.84 4.06 4.17
Benchmark 3.85 5.03 3.98 4.40 4.56 ---
Morningstar Bank Loan Category 3.12 4.29 3.15 3.53 3.58 ---
Performance (%)
% (as of 9/30/2017)
Average Annual Total Returns % (as of 9/30/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate  I 3.39 6.46 3.72 3.84 3.90 4.17
Benchmark 3.04 5.36 3.96 4.40 4.43 ---
Morningstar Bank Loan Category 2.49 4.55 3.14 3.59 3.44 ---
SI = Since Inception. Fund Inception: 04/29/2005
Operating Expenses:   Net  0.74% |  Gross  0.74%

Share Class Inception: 8/31/06.
Class I-share performance prior to its inception date reflects Class A-share performance (excluding sales charges) and operating expenses. SI performance is calculated from 4/29/05.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Growth of $10,000

(as of 10/31/2017)
[{"date":"2017/10/31","value":"14269"},{"date":"2017/09/30","value":"14177"},{"date":"2017/08/31","value":"14102"},{"date":"2017/07/31","value":"14124"},{"date":"2017/06/30","value":"14015"},{"date":"2017/05/31","value":"14039"},{"date":"2017/04/30","value":"13980"},{"date":"2017/03/31","value":"13907"},{"date":"2017/02/28","value":"13914"},{"date":"2017/01/31","value":"13813"},{"date":"2016/12/31","value":"13739"},{"date":"2016/11/30","value":"13529"},{"date":"2016/10/31","value":"13504"},{"date":"2016/09/30","value":"13352"},{"date":"2016/08/31","value":"13214"},{"date":"2016/07/31","value":"13090"},{"date":"2016/06/30","value":"12905"},{"date":"2016/05/31","value":"12938"},{"date":"2016/04/30","value":"12846"},{"date":"2016/03/31","value":"12541"},{"date":"2016/02/29","value":"12128"},{"date":"2016/01/31","value":"12191"},{"date":"2015/12/31","value":"12359"},{"date":"2015/11/30","value":"12541"},{"date":"2015/10/31","value":"12694"},{"date":"2015/09/30","value":"12694"},{"date":"2015/08/31","value":"12787"},{"date":"2015/07/31","value":"12936"},{"date":"2015/06/30","value":"12966"},{"date":"2015/05/31","value":"13042"},{"date":"2015/04/30","value":"13027"},{"date":"2015/03/31","value":"12881"},{"date":"2015/02/28","value":"12852"},{"date":"2015/01/31","value":"12619"},{"date":"2014/12/31","value":"12629"},{"date":"2014/11/30","value":"12879"},{"date":"2014/10/31","value":"12848"},{"date":"2014/09/30","value":"12808"},{"date":"2014/08/31","value":"12936"},{"date":"2014/07/31","value":"12895"},{"date":"2014/06/30","value":"12927"},{"date":"2014/05/31","value":"12859"},{"date":"2014/04/30","value":"12777"},{"date":"2014/03/31","value":"12781"},{"date":"2014/02/28","value":"12737"},{"date":"2014/01/31","value":"12728"},{"date":"2013/12/31","value":"12661"},{"date":"2013/11/30","value":"12605"},{"date":"2013/10/31","value":"12553"},{"date":"2013/09/30","value":"12443"},{"date":"2013/08/31","value":"12414"},{"date":"2013/07/31","value":"12442"},{"date":"2013/06/30","value":"12288"},{"date":"2013/05/31","value":"12386"},{"date":"2013/04/30","value":"12389"},{"date":"2013/03/31","value":"12316"},{"date":"2013/02/28","value":"12192"},{"date":"2013/01/31","value":"12177"},{"date":"2012/12/31","value":"12049"},{"date":"2012/11/30","value":"11974"},{"date":"2012/10/31","value":"11946"},{"date":"2012/09/30","value":"11898"},{"date":"2012/08/31","value":"11755"},{"date":"2012/07/31","value":"11660"},{"date":"2012/06/30","value":"11560"},{"date":"2012/05/31","value":"11462"},{"date":"2012/04/30","value":"11583"},{"date":"2012/03/31","value":"11483"},{"date":"2012/02/29","value":"11399"},{"date":"2012/01/31","value":"11278"},{"date":"2011/12/31","value":"11036"},{"date":"2011/11/30","value":"10954"},{"date":"2011/10/31","value":"11012"},{"date":"2011/09/30","value":"10646"},{"date":"2011/08/31","value":"10619"},{"date":"2011/07/31","value":"11142"},{"date":"2011/06/30","value":"11109"},{"date":"2011/05/31","value":"11166"},{"date":"2011/04/30","value":"11173"},{"date":"2011/03/31","value":"11096"},{"date":"2011/02/28","value":"11087"},{"date":"2011/01/31","value":"11058"},{"date":"2010/12/31","value":"10863"},{"date":"2010/11/30","value":"10745"},{"date":"2010/10/31","value":"10701"},{"date":"2010/09/30","value":"10535"},{"date":"2010/08/31","value":"10393"},{"date":"2010/07/31","value":"10343"},{"date":"2010/06/30","value":"10132"},{"date":"2010/05/31","value":"10157"},{"date":"2010/04/30","value":"10427"},{"date":"2010/03/31","value":"10279"},{"date":"2010/02/28","value":"10046"},{"date":"2010/01/31","value":"10002"},{"date":"2009/12/31","value":"9838"},{"date":"2009/11/30","value":"9589"},{"date":"2009/10/31","value":"9555"},{"date":"2009/09/30","value":"9471"},{"date":"2009/08/31","value":"9232"},{"date":"2009/07/31","value":"9051"},{"date":"2009/06/30","value":"8775"},{"date":"2009/05/31","value":"8510"},{"date":"2009/04/30","value":"8160"},{"date":"2009/03/31","value":"7565"},{"date":"2009/02/28","value":"7497"},{"date":"2009/01/31","value":"7328"},{"date":"2008/12/31","value":"6851"},{"date":"2008/11/30","value":"7195"},{"date":"2008/10/31","value":"7726"},{"date":"2008/09/30","value":"9102"},{"date":"2008/08/31","value":"9607"},{"date":"2008/07/31","value":"9622"},{"date":"2008/06/30","value":"9719"},{"date":"2008/05/31","value":"9718"},{"date":"2008/04/30","value":"9603"},{"date":"2008/03/31","value":"9278"},{"date":"2008/02/29","value":"9273"},{"date":"2008/01/31","value":"9537"},{"date":"2007/12/31","value":"9852"},{"date":"2007/11/30","value":"9837"},{"date":"2007/10/31","value":"10000"}]

 
Growth of $10,000

Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.

I-Share Morningstar Ratings
(as of 11/30/2017)
  • Overall
    infoIcon:
  • Overall Morningstar Rating for Floating Rate Fund, Class I, as of 11/30/2017 out of 206 products in the Bank Loan Category Based on Risk-Adjusted Returns
Calendar Year Returns (%)
Fund Benchmark
2016 11.46 9.88
2015 -1.86 -0.38
2014 0.00 2.06
2013 5.34 6.15
2012 9.42 9.43
2011 1.84 1.82
2010 10.79 9.98
2009 43.96 44.87
2008 -30.29 -28.75
2007 1.16 1.88

Excludes sales charges. If sales charges and taxes had been included, the value would have been lower.

Characteristics Holdings are subject to change. Percentages may be rounded.

Statistics
As of Date 10/31/2017
Net Assets $4.1 billion
# of Holdings 350
Turnover (9/30/2017) 63%
Dividend Frequency Monthly
Holdings Characteristics
(as of 10/31/2017)
Fund
% in Bank Loans 94.77
Average Days to Reset 36
Bank Loan Average Price $98.76
Effective Duration 0.35 yrs.
Yields
As of Date 11/30/2017
Distribution Yield at NAV 3.94%
Trailing 12 Month Yield 3.94%
30 Day SEC Yield 3.96%
Unsubsidized 30-Day SEC Yield 3.96%
Fund Essentials
Inception Date 04/29/2005
Symbol HFLIX
CUSIP 416649804
Fund Number 1308

Top Ten Issuers (%)

(as of 10/31/2017)
label percentageholding
First Data Corp. 1.89
Sprint Communications, Inc. 1.87
Level 3 Financing, Inc. 1.77
Caesars Entertainment Operating Co. 1.65
Caesars Resort Collection, LLC 1.53
Sedgwick Claims Management Services, Inc. 1.24
TransDigm, Inc. 1.24
Valeant Pharmaceuticals International, Inc. 1.15
Univision Communications, Inc. 1.12
Calpine Construction Finance Co., L.P. 1.06
Total Portfolio % 14.52
(as of 9/30/2017)
label percentageholding
First Data Corp. 1.90
Sprint Communications, Inc. 1.85
Level 3 Financing, Inc. 1.74
Caesars Entertainment Operating Co. 1.72
Sedgwick Claims Management Services, Inc. 1.22
TransDigm, Inc. 1.22
Avolon TLB Borrower 1 1.14
Univision Communications, Inc. 1.10
California Resources Corp. 1.09
Revlon Consumer Products Corp. 1.06
Total Portfolio % 14.04

Credit Exposure (%)

(as of 10/31/2017)
label value
Baa/BBB 2.3
Ba/BB 49.4
B 45.4
Caa/CCC or lower 6.2
Not Rated 2.2
Cash & Cash Offsets -5.4

Credit exposure is the credit ratings for the underlying securities of the Fund as provided by Standard and Poor's (S&P), Moody's Investors Service, or Fitch and typically range from AAA/Aaa (highest) to C/D (lowest). If S&P, Moody's, and Fitch assign different ratings, the median rating is used. If only two agencies assign ratings, the lower rating is used. Securities that are not rated by any of the three agencies are listed as "Not Rated." Ratings do not apply to the Fund itself or to Fund shares. Ratings may change.

Sector Distribution
Sectors 09/30/2017 Fund 10/31/2017 Benchmark 10/31/2017 UNDERWEIGHT / OVERWEIGHT -4 0 4
Energy 8.2 7.9 3.9
Overweight 100.0%
Financial Institutions 7.5 8.0 6.5
Overweight 50.0%
Utilities 4.3 4.0 2.3
Overweight 50.0%
Consumer Non-Cyclical 17.7 17.7 16.7
Overweight 25.0%
Communications 14.7 15.6 15.5
Overweight 25.0%
Other Industrial 3.6 3.9 2.6
Overweight 25.0%
Transportation 3.6 3.5 2.5
Overweight 25.0%
Other High Yield 0.3 0.8 0.9
Overweight 0.0%
Other Securities 0.2 0.3 0.0
Overweight 0.0%
Cash and Cash Equivalents -1.8 -5.4 0.0
Overweight 0.0%
Consumer Cyclical 18.4 19.1 20.0
Overweight 25.0%
Capital Goods 7.0 7.6 8.7
Overweight 25.0%
Basic Industry 3.6 4.4 4.6
Overweight 25.0%
Technology 12.7 12.4 15.8
Overweight 100.0%

Insights

pdf

What’s Happening with LIBOR—and Why You Should Care 

Mon Nov 20 09:30:00 EST 2017
The London Interbank Offered Rate (LIBOR) is expected to be gradually replaced by other benchmarks. What are the potential ramifications?
pdf

4Q 2017 Outlooks (Wellington) 

Wed Oct 18 14:06:00 EDT 2017
Thought leaders from Wellington Management provide their outlook on issues that will influence markets and portfolios going forward.
pdf

Hartford Floating Rate Fund Outlook & Commentary  

Sat Sep 30 14:05:00 EDT 2017
Portfolio Manager Michael Bacevich provides a review of the Fund's 3Q17 performance and outlook.

Literature

Fund Literature

Select All

Fact Sheet

09/30/2017 | pdf
Get FINRA Letter

Max 100

Commentary

09/30/2017 | pdf
Get FINRA Letter

Max 100

Expanded Commentary

09/30/2017 | pdf

Max 100

Summary Prospectus

03/01/2017 | pdf

Available For
Download Only

Pitchbook

09/30/2017 | pdf

Available For
Download Only

Semi Annual Report

04/30/2017 | pdf

Available For
Download Only

Statutory Prospectus

03/01/2017 | pdf

Available For
Download Only

Annual Report

10/31/2016 | pdf

Available For
Download Only

Fund Story

09/30/2017 | pdf
Get FINRA Letter

Max 50

Flyer

06/30/2017 | pdf
Get FINRA Letter

Max 100

SAI

03/01/2017 | pdf

Available For
Download Only

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A WORD ABOUT RISK

All investments are subject to risk, including the possible loss of principal. There is no guarantee the Fund will achieve its stated objective. The Fund's share price may fluctuate due to market risk and/or security selections that may underperform the market or relevant benchmarks. Fixed Income risks include credit, liquidity, call, duration, and interest-rate risk. As interest rates rise, bond prices generally fall; these risks are currently heightened because interest rates are at, or near, historical lows. Investments in high-yield ("junk") bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt securities. Loans can be difficult to value and highly illiquid; they are subject to credit risk, bankruptcy risk, and insolvency. Foreign investments can be riskier and more volatile than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as political and economic developments in foreign countries and regions (e.g., "Brexit").
Floating Rate Fund should not be considered an alternative to CDs or money market funds. This Fund is for investors who are looking to complement their traditional fixed-income investments.

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