Pioneer Floating Rate Trust (PHD)
Competitors to Pioneer Floating Rate Trust (PHD)
BlackRock Floating Rate Income Strategies Fund FRA -0.98%
BlackRock Floating Rate Income Strategies Fund also offers investments in floating-rate debt, competing with Pioneer for yield-seeking investors. Being part of the larger BlackRock investment management firm, it possesses significant resources and research capability which often translates into superior investment decisions and product marketing, providing it an advantage over Pioneer in the competitive landscape.
Eaton Vance Floating-Rate Income Trust EFT -1.94%
Eaton Vance Floating-Rate Income Trust offers similar investment strategies focusing on floating-rate debt securities. Both PHD and EFT target investors seeking income through variable rate bonds, which can provide protection against rising interest rates. However, Eaton Vance has a slightly larger asset base and a broader range of investment products, which can provide it with better economies of scale and diversified options for investors.
Invesco Senior Loan ETF BKLN -1.01%
Invesco Senior Loan ETF is an exchange-traded fund focused on senior loans, competing with Pioneer in the same market segment. While PHD is a closed-end fund, BKLN's structure as an ETF offers advantages such as greater liquidity and typically lower fees due to its passive management style. This provides Invesco with an edge in cost-sensitive investor segments, leading to potentially higher asset inflows.
Lord Abbett Floating Rate Fund
Lord Abbett Floating Rate Fund aims to generate current income while seeking capital preservation, paralleling Pioneer Floating Rate Trust's objectives. Both funds invest in senior floating-rate loans; however, Lord Abbett benefits from its renowned investment management reputation and strong historical performance in fixed income segments, which helps to build investor trust and loyalty.
Nuveen Floating Rate Income Fund JFR -0.71%
Nuveen Floating Rate Income Fund competes directly with Pioneer by focusing on similar asset classes, predominantly floating-rate loans and bonds. Both funds aim to deliver consistent income through fixed income investments but Nuveen has a more extensive track record in managing floating-rate income strategies and a broader reach in distribution channels, which gives it a competitive edge in attracting investor capital.