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Hartford Floating Rate High Income Fund

Explore Another ETFs

Objective

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

Overview

A fund that typically invests in U.S. bank loans, global bank loans, and high-yield debt.

More About Floating Rate High Income 

Performance

Performance (%)
% (as of 9/30/2017)
Average Annual Total Returns % (as of 9/30/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate High Income  I 3.90 6.89 3.58 4.39 --- 5.71
Benchmark 3.04 5.36 3.96 4.40 --- ---
Morningstar Bank Loan Category 2.49 4.55 3.14 3.59 --- ---
Performance (%)
% (as of 9/30/2017)
Average Annual Total Returns % (as of 9/30/2017)
YTD 1YR 3YR 5YR 10YR SI
Hartford Floating Rate High Income  I 3.90 6.89 3.58 4.39 --- 5.71
Benchmark 3.04 5.36 3.96 4.40 --- ---
Morningstar Bank Loan Category 2.49 4.55 3.14 3.59 --- ---
SI = Since Inception. Fund Inception: 09/30/2011
Operating Expenses:   Net  0.82% |  Gross  0.91%

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 9/30/2017)
[{"date":"2017/09/30","value":"13749"},{"date":"2017/08/31","value":"13666"},{"date":"2017/07/31","value":"13692"},{"date":"2017/06/30","value":"13596"},{"date":"2017/05/31","value":"13610"},{"date":"2017/04/30","value":"13540"},{"date":"2017/03/31","value":"13473"},{"date":"2017/02/28","value":"13472"},{"date":"2017/01/31","value":"13354"},{"date":"2016/12/31","value":"13244"},{"date":"2016/11/30","value":"13044"},{"date":"2016/10/31","value":"13029"},{"date":"2016/09/30","value":"12894"},{"date":"2016/08/31","value":"12752"},{"date":"2016/07/31","value":"12620"},{"date":"2016/06/30","value":"12411"},{"date":"2016/05/31","value":"12385"},{"date":"2016/04/30","value":"12265"},{"date":"2016/03/31","value":"11865"},{"date":"2016/02/29","value":"11438"},{"date":"2016/01/31","value":"11461"},{"date":"2015/12/31","value":"11686"},{"date":"2015/11/30","value":"11910"},{"date":"2015/10/31","value":"12085"},{"date":"2015/09/30","value":"12083"},{"date":"2015/08/31","value":"12222"},{"date":"2015/07/31","value":"12420"},{"date":"2015/06/30","value":"12470"},{"date":"2015/05/31","value":"12581"},{"date":"2015/04/30","value":"12546"},{"date":"2015/03/31","value":"12362"},{"date":"2015/02/28","value":"12311"},{"date":"2015/01/31","value":"12067"},{"date":"2014/12/31","value":"12135"},{"date":"2014/11/30","value":"12450"},{"date":"2014/10/31","value":"12459"},{"date":"2014/09/30","value":"12450"},{"date":"2014/08/31","value":"12601"},{"date":"2014/07/31","value":"12554"},{"date":"2014/06/30","value":"12592"},{"date":"2014/05/31","value":"12501"},{"date":"2014/04/30","value":"12411"},{"date":"2014/03/31","value":"12379"},{"date":"2014/02/28","value":"12330"},{"date":"2014/01/31","value":"12268"},{"date":"2013/12/31","value":"12192"},{"date":"2013/11/30","value":"12123"},{"date":"2013/10/31","value":"12069"},{"date":"2013/09/30","value":"11935"},{"date":"2013/08/31","value":"11889"},{"date":"2013/07/31","value":"11923"},{"date":"2013/06/30","value":"11742"},{"date":"2013/05/31","value":"11871"},{"date":"2013/04/30","value":"11877"},{"date":"2013/03/31","value":"11744"},{"date":"2013/02/28","value":"11616"},{"date":"2013/01/31","value":"11581"},{"date":"2012/12/31","value":"11417"},{"date":"2012/11/30","value":"11329"},{"date":"2012/10/31","value":"11302"},{"date":"2012/09/30","value":"11230"},{"date":"2012/08/31","value":"11078"},{"date":"2012/07/31","value":"10946"},{"date":"2012/06/30","value":"10865"},{"date":"2012/05/31","value":"10744"},{"date":"2012/04/30","value":"10857"},{"date":"2012/03/31","value":"10751"},{"date":"2012/02/29","value":"10666"},{"date":"2012/01/31","value":"10510"},{"date":"2011/12/31","value":"10294"},{"date":"2011/11/30","value":"10201"},{"date":"2011/10/31","value":"10225"},{"date":"2011/09/30","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 9/30/2017)
  • Overall
    infoIcon:
  • Overall Morningstar Rating for Floating Rate High Income Fund, Class I, as of 9/30/2017 out of 209 products in the Bank Loan Category Based on Risk-Adjusted Returns
Calendar Year Returns (%)
Fund Benchmark
2016 13.60 9.88
2015 -3.45 -0.38
2014 -0.23 2.06
2013 7.14 6.15
2012 11.15 9.43
2011 --- ---
2010 --- ---
2009 --- ---
2008 --- ---
2007 --- ---

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 9/30/2017
Net Assets $513 million
# of Holdings 284
Turnover (9/30/2017) 78%
Dividend Frequency Monthly
Holdings Characteristics
(as of 9/30/2017)
Fund
% in Bank Loans 89.34
Average Days to Reset 39
Bank Loan Average Price $98.46
Effective Duration 0.37 yrs.
Yields
As of Date 9/30/2017
Distribution Yield at NAV 3.87%
Trailing 12 Month Yield 4.02%
30 Day SEC Yield 3.94%
Unsubsidized 30-Day SEC Yield 3.87%
Fund Essentials
Inception Date 09/30/2011
Symbol HFHIX
CUSIP 41664M151
Fund Number 1038

Top Ten Issuers (%)

(as of 9/30/2017)
label percentageholding
Caesars Entertainment Operating Co. 3.71
Sprint Communications, Inc. 3.51
First Data Corp. 2.62
Avolon TLB Borrower 1 2.31
TEX Operations Co. LLC 1.56
Virgin Media Bristol LLC 1.53
Gardner Denver, Inc. 1.40
Valeant Pharmaceuticals International, Inc. 1.38
Revlon Consumer Products Corp. 1.33
Sedgwick Claims Management Services, Inc. 1.26
Total Portfolio % 20.61
(as of 6/30/2017)
label percentageholding
Caesars Entertainment Operating Co. 3.71
Sprint Communications, Inc. 3.53
First Data Corp. 2.73
Avolon TLB Borrower 1 2.33
Valeant Pharmaceuticals International, Inc. 1.86
TEX Operations Co. LLC 1.55
Virgin Media Bristol LLC 1.53
JBS USA LLC 1.40
Univision Communications, Inc. 1.33
Eldorado Resorts LLC 1.27
Total Portfolio % 21.24

Credit Exposure (%)

(as of 9/30/2017)
label value
Baa/BBB 1.1
Ba/BB 47.4
B 44.8
Caa/CCC or lower 6.7
Not Rated 2.7
Cash & Cash Offsets -2.6

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 06/30/2017 Fund 09/30/2017 Benchmark 09/30/2017 UNDERWEIGHT / OVERWEIGHT -3 0 3
Energy 5.9 6.9 4.1
Overweight 100.0%
Utilities 4.8 5.1 2.2
Overweight 100.0%
Financial Institutions 5.5 7.6 6.4
Overweight 66.66666666666667%
Other Industrial 4.0 3.8 2.6
Overweight 33.333333333333336%
Transportation 3.9 3.5 2.4
Overweight 33.333333333333336%
Consumer Non-Cyclical 20.1 17.5 16.7
Overweight 0.0%
Communications 15.3 16.4 15.7
Overweight 0.0%
Other Securities 2.4 0.5 0.0
Overweight 0.0%
Government & Government Related 0.1 0.1 0.0
Overweight 0.0%
Cash and Cash Equivalents -0.9 -2.6 0.0
Overweight 0.0%
Consumer Cyclical 17.5 19.2 20.3
Overweight 33.333333333333336%
Basic Industry 3.6 4.0 4.7
Overweight 33.333333333333336%
Other High Yield 0.1 0.1 0.9
Overweight 33.333333333333336%
Technology 11.9 11.6 15.2
Overweight 100.0%
Capital Goods 5.8 6.4 8.9
Overweight 100.0%

Insights

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

Correlation and Dispersion: Return of the Stock Picker's Market? 

Tue Jun 06 10:00:00 EDT 2017
Amid normalizing central bank policy, correlations and dispersion are trending in a favorable direction for fundamental investors.
pdf

Bank Loans: 25 Years and Growing 

Thu May 25 10:00:00 EDT 2017
In light of anticipated interest rate hikes from the Fed, bank loans may prove a beneficial part of an overall portfolio.

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

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
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Annual Report

10/31/2016 | pdf

Available For
Download Only

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 due to the historically low interest rate environment. 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 and risks of bankruptcy and insolvency. Derivatives may be riskier or more volatile than other types of investments because they are generally more sensitive to changes in market or economic conditions; risks include currency, leverage, liquidity, index, pricing, and counterparty risk. 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"). Privately placed, restricted (Rule 144A) securities may be more difficult to sell and value than publicly traded securities, thus they may be potentially illiquid.
Floating Rate High Income 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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