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Hartford Floating Rate High Income Fund

Explore Another ETFs


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


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

More About Floating Rate High Income 

High Income Potential in a Low-Yield World

The Fund invests primarily in bank loans, which may provide higher yields than traditional bonds; their yields may also increase when interest rates rise.

To enhance the potential for yield, the Fund also has a strategic allocation to international bank loans and high-yield bonds.

Less Sensitivity to Rising Rates

By combining domestic bank loans, international bank loans, and high-yield bonds, the Fund provides exposure to investments that are historically less affected by rising rates. This lower sensitivity to rising rates can help diversify nearly any fixed-income portfolio.

Experienced Management

Bank loans are a small asset class, which makes them difficult for individual investors to access. The Fund is run by a veteran in bank-loan investing, Michael Bacevich. He has been managing bank loans since the asset class was created and is backed by Wellington Management’s deep fixed-income resources.

Michael Bacevich
Managing Director
Fixed-Income Portfolio Manager

Portfolio managers are supported by the full resources of Wellington Management.

Video Commentaries


Investment Process (2:39)
Portfolio Manager Michael Bacevich



Fund Outlook & Commentary (2:43)
Portfolio Manager Michael Bacevich


Performance (%)
% (as of 12/31/2016)
Average Annual Total Returns % (as of 12/31/2016)
Hartford Floating Rate High Income  A 13.33 13.33 2.80 5.17 --- 5.50
With 3.0% Max
Sales Charge
--- 9.93 1.76 4.53 --- 4.89
Benchmark 9.88 9.88 3.76 5.35 --- ---
Morningstar Bank Loan Category 9.22 9.22 2.74 4.62 --- ---
Performance (%)
% (as of 12/31/2016)
Average Annual Total Returns % (as of 12/31/2016)
Hartford Floating Rate High Income  A 13.33 13.33 2.80 5.17 --- 5.50
With 3.0% Max
Sales Charge
--- 9.93 1.76 4.53 --- 4.89
Benchmark 9.88 9.88 3.76 5.35 --- ---
Morningstar Bank Loan Category 9.22 9.22 2.74 4.62 --- ---
SI = Since Inception. Fund Inception: 09/30/2011
Operating Expenses:   Net  1.07% |  Gross  1.13%

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 12/31/2016)

Growth of $10,000

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

A-Share Morningstar Ratings
(as of 12/31/2016)
  • Overall
  • Overall Morningstar Rating for Floating Rate High Income Fund, Class A, as of 12/31/2016 out of 208 products in the Bank Loan Category Based on Risk-Adjusted Returns
Calendar Year Returns (%)
Fund Benchmark
2016 13.33 9.88
2015 -3.70 -0.38
2014 -0.49 2.06
2013 6.78 6.15
2012 10.88 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.

As of Date 12/31/2016
Net Assets $406 million
# of Holdings 241
Turnover (12/31/2016) 83%
Dividend Frequency Monthly
Holdings Characteristics
(as of 12/31/2016)
% in Bank Loans 75.51
Average Days to Reset 47
Bank Loan Average Price $96.59
Effective Duration 0.65 yrs.
As of Date 12/31/2016
Distribution Yield at NAV 4.84%
Trailing 12 Month Yield 4.77%
30 Day SEC Yield 4.15%
Unsubsidized 30-Day SEC Yield 4.15%
Fund Essentials
Inception Date 09/30/2011
Symbol HFHAX
CUSIP 41664M177
Fund Number 1036

Top Ten Issuers (%)

(as of 12/31/2016)
label percentageholding
First Data Corp. 2.95
Valeant Pharmaceuticals International, Inc. 2.48
Community Health Systems, Inc. 2.43
Brickman Group Ltd. LLC 1.73
Sedgwick Claims Management Services, Inc. 1.60
Advantage Sales & Marketing, Inc. 1.28
Caesars Entertainment Resort Properties LLC 1.25
inVentiv Health, Inc. 1.25
Calpine Corp. 1.22
DTZ U.S. Borrower LLC 1.18
Total Portfolio % 17.37
(as of 9/30/2016)
label percentageholding
inVentiv Health, Inc. 2.67
Community Health Systems, Inc. 2.27
Valeant Pharmaceuticals International, Inc. 1.69
Brickman Group Ltd. 1.63
Advantage Sales & Marketing, Inc. 1.40
Hostess Brands LLC 1.27
U.S. Renal Care, Inc. 1.27
Albertsons LLC 1.24
Mauser U.S. Corp. 1.24
Pike Corp. 1.17
Total Portfolio % 15.85

Credit Exposure

(as of 12/31/2016)
label value
Baa/BBB 2.7%
Ba/BB 31.6%
B 40.9%
Caa/CCC or lower 12.1%
Not Rated 7.1%
Cash & Cash Offsets 5.6%

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 09/30/2016 Fund 12/31/2016 Benchmark 12/31/2016 UNDERWEIGHT / OVERWEIGHT -7 0 7
Financial Institutions 9.5 10.5 6.5
Overweight 71.42857142857143%
Consumer Non-Cyclical 24.4 21.2 17.4
Overweight 57.142857142857146%
Other Industrial 3.8 4.0 2.4
Overweight 28.571428571428573%
Energy 6.4 4.7 4.4
Overweight 14.285714285714286%
Utilities 3.2 3.3 2.1
Overweight 14.285714285714286%
Other Securities 4.6 6.0 0.0
Overweight 0.0%
Government & Government Related 0.3 0.4 0.0
Overweight 0.0%
Cash and Cash Equivalents 7.4 5.6 0.0
Overweight 0.0%
Transportation 1.2 1.3 2.2
Overweight 14.285714285714286%
Other High Yield 0.2 0.1 0.8
Overweight 14.285714285714286%
Basic Industry 5.5 3.7 5.9
Overweight 28.571428571428573%
Capital Goods 5.7 6.4 9.0
Overweight 42.85714285714286%
Technology 7.0 10.2 14.2
Overweight 57.142857142857146%
Consumer Cyclical 14.5 15.5 20.8
Overweight 85.71428571428572%
Communications 6.4 7.2 14.4
Overweight 100.0%



Bank Loans: Yesterday, Today, and Tomorrow  

Wed Dec 07 11:06:00 EST 2016
The bank loan market turns 25 years old in January 2017. To mark the occasion, we profile the evolution of the sector, assess its current state, and identify potentially attractive opportuni...

Bank Loans: A Sector That May Be Poised to Benefit from the Recent Rise in U.S. LIBOR 

Mon Sep 26 11:06:00 EDT 2016
Bank loans are getting renewed interest from investors, with the long-anticipated start of higher interest rates looking like it might finally materialize in the US.

Negative Yields: A Race to the Bottom? 

Fri Mar 18 11:06:00 EDT 2016
Recent market and economic data suggests that, contrary to the intentions of central banks, negative rates may actually dampen rather than stimulate an economy by hobbling its banking sector...


Fund Literature

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Fact Sheet

09/30/2016 | pdf
Get FINRA Letter

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09/30/0016 | pdf
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Summary Prospectus

03/01/2016 | pdf

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12/31/2016 | pdf

Semi Annual Report

04/30/2016 | pdf

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Statutory Prospectus

03/01/2016 | pdf

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Annual Report

10/31/2016 | pdf

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11/08/2016 | pdf
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03/01/2016 | pdf

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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 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. 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.