Fund Evaluator:
MML Barings Global Floating Rate C (BXFCX)
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Fund Details
MML Barings Global Floating Rate C Overview
MML Barings Global Floating Rate C (BXFCX) is an actively managed Taxable Bond Bank Loan fund. MassMutual launched the fund in 2013.
The investment seeks a high level of current income; preservation of capital is a secondary goal. 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.
About MML Barings Global Floating Rate C (BXFCX)
There are 5 members of the management team with an average tenure of 5.91 years: Sean Feeley (2013), Chris Sawyer (2020), Casey McKinney (2022), Brian Pacheco (2023), Oliver Harker-Smith (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Global Aggregate TR USD index with a weighting of 100% and S&P UBS Leveraged Loan USD index with a weighting of 100%. MML Barings Global Floating Rate C has 316 securities in its portfolio. The top 10 holdings constitute 10.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
MML Barings Global Floating Rate C is part of the Fixed Income global asset class and is within the Taxable Bond fund group. MML Barings Global Floating Rate C has 90.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 90.2% (0.0% domestic bond, 90.2% foreign bond and 0.0% convertible bond). MML Barings Global Floating Rate C has 8.7% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $344 million average for the Bank Loan category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BXFCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The MML Barings Global Floating Rate C expense ratio is high compared to funds in the Bank Loan category. MML Barings Global Floating Rate C has an expense ratio of 1.75%, which is 66% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. MML Barings Global Floating Rate C has a portfolio turnover rate of 41%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Bank Loan category.
Recently, in the month of July 2026, MML Barings Global Floating Rate C returned 0.2%, which earned it a grade of F, as the Bank Loan category had an average return of 0.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
MML Barings Global Floating Rate C has a trailing yield of 6.22%, which is below the 6.73% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
MML Barings Global Floating Rate C Grades
Year to date, the fund has returned 0.4%, 1.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 1.7% over the past year (grade of F), 5.2% over the past three years (grade of F) and 3.7% per year over the past five years (grade of F) and 4.0% per year over the past 10 years (grade of F).
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BXFCX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BXFCX Return (NAV) | 0.2% | 0.6% | 1.7% | 5.2% | 3.7% | 4.0% |
| BXFCX Grade | F | F | F | F | F | F |
| +/- Category | -0.3% | -0.6% | -2.1% | -1.5% | -1.5% | -0.5% |
| Bank Loan Avg | 0.6% | 1.2% | 3.8% | 6.6% | 5.2% | 4.4% |
| BXFCX Tax Cost Ratio | na | na | 2.5% | 2.9% | 2.5% | 2.0% |
BXFCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BXFCX Return (NAV) | 0.4% | 3.6% | 7.3% | 12.6% | -5.6% | 4.9% | 2.3% | 7.2% | -0.8% | 3.4% | 10.5% |
| BXFCX Grade | F | F | F | B | F | B | B | D | D | D | B |
| +/- Category | -1.5% | -1.5% | -1.0% | 0.5% | -3.2% | 0.3% | 1.1% | -0.4% | -0.5% | -0.2% | 1.3% |
| Bank Loan Avg | 1.9% | 5.1% | 8.2% | 12.1% | -2.3% | 4.7% | 1.3% | 7.6% | -0.4% | 3.7% | 9.2% |
| Risk Measures | |
| Standard Deviation: | 1.9% |
| Total Risk Index: | 0.15 - Low |
| Category Risk Index: | 0.94 - Below Average |
| Category Risk Grade: | B (38% Rank) |
| Beta: | 0.05 |
| R-Squared: | 3% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 6.2% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $106 Mil |
| Fund Total Assets: | $ 3 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 41% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 12.9 years | |||
| Average Tenure: 5.9 years | |||
| Managers (Year): Feeley Sean (2013), Sawyer Chris (2020), McKinney Casey (2022), Pacheco Brian (2023), Harker-Smith Oliver (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 316 |
| % in Top 10 Holdings: | 10.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 90.2% |
Portfolio Allocation |
|
| Domestic Stock: | 1.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 90.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 8.7% |
Purchase Information
| Fund Family: | MassMutual |
| Phone Number: | 855-439-5459 |
| Website: |
| Status: | Open |
| Inception Date: | September 16, 2013 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 250 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.75% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.05% |
| Share Class: | MML Barings Global Floating Rate I |
| Min. Subsequent Purchase: | $ 250 |
| Min. Subsequent IRA Purchase: | $ 250 |
