MassMutual Global Floating Rate Fund (BXFIX)
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.
Fund Info
| ISIN | US5762911080 |
|---|---|
| Issuer | Barings Funds |
| Inception Date | Sep 15, 2013 |
| Category | Bank Loan |
| Min. Investment | $500,000 |
| Asset Class | Bond |
Expense Ratio
BXFIX has a high expense ratio of 0.77%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in MassMutual Global Floating Rate Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
MassMutual Global Floating Rate Fund had a return of 2.87% year-to-date (YTD) and 11.85% in the last 12 months. Over the past 10 years, MassMutual Global Floating Rate Fund had an annualized return of 4.27%, while the S&P 500 had an annualized return of 10.66%, indicating that MassMutual Global Floating Rate Fund did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.87% | 9.31% |
| 1 month | 0.85% | 0.08% |
| 6 months | 5.56% | 19.94% |
| 1 year | 11.85% | 26.02% |
| 5 years (annualized) | 4.69% | 12.62% |
| 10 years (annualized) | 4.27% | 10.66% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.70% | 1.08% | 0.55% | 0.39% | ||||||||
| 2023 | -0.15% | 1.22% | 1.50% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of BXFIX is 99, placing it in the top 1% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
BXFIX (MassMutual Global Floating Rate Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for MassMutual Global Floating Rate Fund (BXFIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
MassMutual Global Floating Rate Fund granted a 9.41% dividend yield in the last twelve months. The annual payout for that period amounted to $0.83 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.83 | $0.81 | $0.46 | $0.32 | $0.37 | $0.51 | $0.49 | $0.45 | $0.48 | $0.46 | $0.68 |
Dividend yield | 9.41% | 9.21% | 5.41% | 3.42% | 4.06% | 5.47% | 5.44% | 4.72% | 5.04% | 5.12% | 7.17% |
Monthly Dividends
The table displays the monthly dividend distributions for MassMutual Global Floating Rate Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.08 | $0.06 | $0.05 | $0.06 | ||||||||
| 2023 | $0.07 | $0.05 | $0.06 | $0.06 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.08 | $0.08 | $0.07 |
| 2022 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.05 | $0.05 | $0.05 | $0.06 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2020 | $0.04 | $0.03 | $0.04 | $0.01 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 |
| 2019 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.07 |
| 2018 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.08 | $0.04 | $0.03 | $0.04 | $0.04 | $0.08 |
| 2017 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
| 2016 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.06 |
| 2014 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.04 | $0.27 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below displays the maximum drawdowns of the MassMutual Global Floating Rate Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MassMutual Global Floating Rate Fund was 22.22%, occurring on Mar 23, 2020. Recovery took 162 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -22.22% | Feb 3, 2020 | 35 | Mar 23, 2020 | 162 | Nov 10, 2020 | 197 |
| -8.28% | Mar 11, 2022 | 157 | Oct 24, 2022 | 154 | Jun 6, 2023 | 311 |
| -5.87% | Jun 1, 2015 | 180 | Feb 16, 2016 | 73 | May 31, 2016 | 253 |
| -3.91% | Oct 11, 2018 | 53 | Dec 27, 2018 | 42 | Feb 28, 2019 | 95 |
| -2.55% | Sep 9, 2014 | 71 | Dec 17, 2014 | 51 | Mar 4, 2015 | 122 |
Volatility
Volatility Chart
The current MassMutual Global Floating Rate Fund volatility is 0.79%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.