The investment seeks total return, comprised of current income and capital appreciation.  The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in senior secured floating rate loans made by banks and other lending institutions, senior secured floating rate debt instruments, and derivatives and other instruments that have economic characteristics similar to such securities. It may invest up to 100% of its net assets in floating rate loans and floating rate debt securities that are determined to be below investment grade.

Nasdaq

AFRAX

The investment seeks to provide total return through a combination of current income and long-term capital appreciation.  The fund will invest no less than 80% of its net assets plus any borrowings for investment purposes at market value at the time of purchase in floating rate debt instruments and other investments that are the economic equivalent of floating rate debt instruments or enable it to achieve a floating rate of income. The fund will invest primarily in instruments that are rated, at the time of purchase, below investment grade, commonly known as "junk bonds."

ARTUX

The fund normally invests at least 80% of its assets in floating rate investments and investments that are the economic equivalent of floating rate investments, which effectively enables the fund to achieve a floating rate of income. It may also purchase, without limitation, participations or assignments in senior floating rate loans or second lien floating rate loans.

BFRAX

The fund invests at least 80% of its net assets in income-producing floating rate debt securities, consisting of floating rate loans, bonds and notes, issued primarily by North American and Western European companies. It may invest in a wide range of income-producing floating rate loans, bonds, and notes of issuers based in U.S. and non-U.S. markets, but primarily invests in senior secured loans of North American and Western European corporate issuers that are of below investment grade quality.

BXFIX

The investment seeks to provide a high level of current income.  Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in income producing floating rate loans and other floating rate debt securities. It invests primarily in senior floating rate loans of domestic and foreign borrowers ("Senior Loans"). The fund currently borrows for the purpose of acquiring additional income-producing investments (referred to as "leverage"). It may invest up to 35% of its net assets in foreign Senior Loans.

CFOIX

The investment seeks current income.  Under normal market conditions, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in U.S. dollar denominated floating rate secured loans and other floating rate debt instruments, including: floating rate bonds; floating rate notes; floating rate debentures; and tranches of floating rate asset-backed securities, including structured notes, made to, or issued by, U.S. and non-U.S. corporations or other business entities; and other investment companies (including exchange traded funds) that invest primarily in floating rate assets.

CFRIX

The investment seeks high current income; capital appreciation is a secondary consideration.  The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in high yield, fixed income securities (commonly referred to as "junk bonds"). The high yield, fixed income securities in which the fund will invest for purposes of this 80% policy will consist entirely of senior secured floating rate loans ("Senior Loans") issued by non-investment grade companies. It may invest up to 30% of its total assets in securities of non-U.S. issuers.

CHIAX

CREDX

The fund's sub-adviser seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of the fund's assets (defined as net assets plus borrowings for investment purposes) in bonds. It will invest up to 20% of total assets in fixed-rate corporate bonds of any maturity generally rated below investment-grade (BB and lower, or an equivalent rating) or are not rated by a nationally recognized statistical rating organization (NRSRO), also known as “high-yield” or “junk” loans.

DAFRX

The fund normally will invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in floating rate loans and other floating rate investments. The adviser expects that many or all of the fund's investments will be rated below investment grade or unrated but of comparable credit quality. It may invest in securities of stressed, distressed, and defaulted issuers (including issuers involved in bankruptcy proceedings, reorganizations, financial restructurings, or otherwise experiencing financial hardship).

DBFRX

The fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in floating rate loans and other floating rate debt securities (80% policy). The Manager will determine how much of the fund's assets to allocate among the different types of securities in which the fund may invest based on its evaluation of economic and market conditions and its assessment of the returns and potential for appreciation that can be achieved from various sectors of the fixed income market.

DDFLX

The investment seeks high current income.  To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in floating rate loans and other floating rate securities. These investments effectively should enable the fund to achieve a floating rate of income. The fund's subadviser normally will focus on senior secured floating rate loans, which are loans secured by specific collateral of the borrower and are senior to most other securities of the borrower (e.g., common stock or debt instruments) in the event of bankruptcy.

DFLYX

Under normal market conditions, the fund invests at least 80% of its total assets in adjustable rate loans that have a senior right to payment ("senior loans") and other floating rate debt securities. It may also borrow money in an amount up to 33 1-3% of the fund's total assets for a range of purposes, including to create investment leverage. Senior loans typically are of below investment-grade quality and, compared to investment grade loans, may pay higher yields and have higher volatility and higher risk of default on payments of interest or principal.

DFRTX

Under normal circumstances, the fund invests at least 80% of its total assets in a combination of income producing floating rate loans and other floating rate debt securities and high yield corporate bonds. It may not invest more than 20% of its total assets in unsecured high yield corporate bonds. The fund invests primarily in senior floating rate loans of domestic and foreign borrowers ("Senior Loans"). It secondarily invests in high yield, high risk corporate bonds.

ECFHX

Under normal circumstances, the fund invests at least 80% of its total assets in income producing floating rate loans and other floating rate debt securities. It invests primarily in senior floating rate loans of domestic and foreign borrowers ("Senior Loans"). Loans usually are of below investment grade quality and have below investment grade credit ratings, which ratings are associated with securities having high risk, speculative characteristics (sometimes referred to as "junk").

EIBLX

EIFAX

The fund invests broadly across the floating-rate loan market and employs leverage to acquire income-producing investments.

EVFAX

The investment seeks a high level of current income; capital preservation is a secondary goal.  The fund normally invests at least 80% of its net assets in income-producing floating interest rate corporate loans and corporate debt securities made to or issued by U.S. companies, non-U.S. entities and U.S. subsidiaries of non-U.S. entities. It invests at least 75% of its net assets in floating rate investments that are rated B- or higher at the time of purchase by a nationally recognized statistical rating organization (NRSRO) or, if unrated, are determined to be of comparable quality by the fund's investment manager.

FDAAX

Under normal market conditions, the fund invests at least 80% of its net assets (including investment borrowings) in high yield debt securities and bank loans that are rated below-investment grade or unrated. It has a short duration investment strategy, which seeks to maintain, under normal market conditions, a blended (or weighted average) portfolio duration of three years or less. Under normal market conditions, the fund may invest up to 15% of its net assets in non-U.S. securities denominated in non-U.S. currencies.

FDHIX

The fund pursues its investment objective by allocating its portfolio of investments among the following three categories of the fixed-income market: domestic investment-grade; domestic noninvestment-grade (also known as "junk bonds"), and foreign (in both emerging and developed markets). Under normal market conditions it will endeavor to maintain an average effective portfolio duration within a range of negative two (-2) to positive three (+3) years, in order to manage Share price volatility due to interest rate risk.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield
AFRAX	Invesco Floating Rate ESG Fund	Bank Loan	Apr 30, 1997	1.04%	1.78%	3.74%	9.05%
ARTUX	Artisan Floating Rate Fund	Bank Loan	Nov 30, 2021	1.20%	1.95%	—	8.99%
BFRAX	BlackRock Floating Rate Income Fund	Bank Loan	Nov 2, 1989	0.90%	1.32%	3.88%	8.50%
BXFIX	MassMutual Global Floating Rate Fund	Bank Loan	Sep 15, 2013	0.77%	1.89%	4.23%	9.38%
CFOIX	Calvert Floating-Rate Advantage Fund	Bank Loan	Oct 9, 2017	0.78%	2.24%	—	9.02%
CFRIX	Catalyst/CIFC Floating Rate Income Fund	Bank Loan	Dec 30, 2012	0.90%	2.36%	4.14%	8.67%
CHIAX	Credit Suisse Floating Rate High Income Fund	Bank Loan	Mar 7, 1999	0.95%	2.78%	4.07%	9.07%
CREDX	BlackRock Credit Strategies Fund	Bank Loan	Feb 27, 2019	2.19%	1.40%	—	10.45%
DAFRX	Dunham Floating Rate Bond Fund	Bank Loan	Oct 31, 2013	1.29%	2.29%	3.05%	9.19%
DBFRX	DoubleLine Floating Rate Fund	Bank Loan	Jan 31, 2013	0.68%	2.69%	3.63%	8.32%
DDFLX	Delaware Floating Rate Fund	Bank Loan	Feb 25, 2010	0.67%	2.29%	4.07%	8.94%
DFLYX	BNY Mellon Floating Rate Income Fund	Bank Loan	Sep 26, 2013	0.73%	2.93%	3.96%	9.20%
DFRTX	DWS Floating Rate Fund	Bank Loan	Jun 28, 2007	0.78%	2.47%	2.77%	8.71%
ECFHX	Eaton Vance Floating-Rate & High Income Fund	Bank Loan	Sep 4, 2000	1.77%	1.44%	3.03%	7.09%
EIBLX	Eaton Vance Floating Rate Fund	Bank Loan	Jan 29, 2001	0.76%	2.05%	4.01%	8.83%
EIFAX	Eaton Vance Floating-Rate Advantage Fund	Bank Loan	Mar 16, 2008	0.47%	2.07%	4.61%	9.61%
EVFAX	Eaton Vance Floating-Rate Advantage Fund Class Adv...	Bank Loan	Apr 10, 2008	0.94%	2.00%	4.35%	9.36%
FDAAX	Franklin Floating Rate Daily Access Fund	Bank Loan	Apr 30, 2001	0.67%	2.84%	3.71%	8.53%
FDHIX	First Trust Short Duration High Income Fund	Bank Loan	Oct 31, 2012	1.01%	0.53%	3.43%	8.02%
FFRSX	Federated Hermes Floating Rate Strat Inc Fund	Bank Loan	Dec 2, 2010	0.68%	2.00%	3.04%	8.22%

The Best Bank Loan Mutual Funds

Risk vs. Return Scatterplot