First Trust Senior Floating Rate Income Fund II (FCT) belongs to the Bank Loan category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with FCT. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FCT
FCT charges 0.03% annually. No mutual funds in the Bank Loan category have lower expense ratios; the lowest-cost alternatives shown here go as low as 0.41%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | 0.41% | — | Jan 2017 | FCT vs XPTFX | |
| Eaton Vance Floating-Rate Advantage Fund | 0.47% | — | Mar 2008 | FCT vs EIFAX | |
| Shenkman Capital Floating Rate High Income Fund | 0.54% | — | Oct 2014 | FCT vs SFHIX | |
| T. Rowe Price Institutional Floating Rate Fund | 0.57% | — | Jan 2008 | FCT vs RPIFX | |
| Lord Abbett Floating Rate Fund | 0.60% | — | Dec 2007 | FCT vs LFRIX |
Best Risk-Adjusted Alternatives to FCT
FCT has a PortfoliosLab risk / return rank of 20. There are 54 mutual funds in the Bank Loan category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Floating Rate CMBS Fund | 100 | — | Sep 2016 | FCT vs RCRIX | |
| Payden Floating Rate Fund | 98 | — | Nov 2013 | FCT vs PYFRX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 98 | — | Jun 2023 | FCT vs CAPIX | |
| Virtus Seix Floating Rate High Income Fund | 97 | — | Feb 2006 | FCT vs SAMBX | |
| PGIM Floating Rate Income Fund | 96 | — | Mar 2011 | FCT vs FRFZX |
Top Performing FCT Alternatives (YTD)
FCT is at 1.16% YTD. There are 25 mutual funds in the Bank Loan category with higher YTD returns, going as high as 3.48%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Victory Floating Rate Fund | 3.48% | — | Dec 2009 | FCT vs RSFYX | |
| Federated Hermes Project and Trade Finance Tender ... | 3.23% | — | Jan 2017 | FCT vs XPTFX | |
| Virtus Seix Floating Rate High Income Fund | 2.42% | — | Feb 2006 | FCT vs SAMBX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 2.38% | — | Jun 2023 | FCT vs CAPIX | |
| PGIM Floating Rate Income Fund | 2.29% | — | Mar 2011 | FCT vs FRFZX |
Lowest Volatility Alternatives to FCT
FCT has 8.44% 1-year volatility. There are 60 mutual funds in the Bank Loan category with lower 1-year volatility, going as low as 0.77%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Floating Rate CMBS Fund | 0.77% | — | Sep 2016 | FCT vs RCRIX | |
| Payden Floating Rate Fund | 1.24% | — | Nov 2013 | FCT vs PYFRX | |
| BNY Mellon Floating Rate Income Fund | 1.36% | — | Sep 2013 | FCT vs DFLYX | |
| Shenkman Capital Floating Rate High Income Fund | 1.67% | — | Oct 2014 | FCT vs SFHIX | |
| Donoghue Forlines Risk Managed Income Fund | 1.68% | — | Dec 2017 | FCT vs FLOTX |
Lowest Drawdown Alternatives to FCT
FCT has a 1-year max drawdown of -5.04%. There are 59 mutual funds in the Bank Loan category with shallower 1-year drawdowns, going as shallow as -0.19%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Floating Rate CMBS Fund | -0.19% | — | Sep 2016 | FCT vs RCRIX | |
| Virtus Seix Floating Rate High Income Fund | -0.78% | — | Feb 2006 | FCT vs SAMBX | |
| PGIM Floating Rate Income Fund | -0.85% | — | Mar 2011 | FCT vs FRFZX | |
| Calvert Floating-Rate Advantage Fund | -0.88% | — | Oct 2017 | FCT vs CFOIX | |
| Virtus Newfleet Senior Floating Rate Fund | -0.88% | — | Jan 2008 | FCT vs PSFIX |
Other Mutual Funds from First Trust
The 7 most viewed First Trust mutual funds shown here include VARBX, FPEIX, FPF and span 6 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Vivaldi Merger Arbitrage Fund Class I | Event Driven | 98 | 1.90% | — | Oct 2015 | FCT vs VARBX | |
| First Trust Preferred Securities and Income Fund | Preferred Stock/Convertible Bonds | 65 | -0.04% | — | Jan 2011 | FCT vs FPEIX | |
| First Trust Intermediate Duration Preferred and In... | Preferred Stock/Convertible Bonds | 8 | -0.31% | — | Apr 2009 | FCT vs FPF | |
| First Trust Enhanced Equity Income Fund | Derivative Income | 34 | 3.15% | — | Aug 2004 | FCT vs FFA | |
| First Trust High Yield Opportunities 2027 Term Fun... | High Yield Bonds | 7 | 1.53% | — | Jun 2020 | FCT vs FTHY | |
| First Trust Short Duration High Income Fund | Bank Loan | 36 | -0.37% | — | Oct 2012 | FCT vs FDHIX | |
| First Trust Mortgage Income Fund | Mortgage Backed Securities | 6 | -1.19% | — | May 2005 | FCT vs FMY |
Often Compared With FCT
Investors most often compare FCT with GOF, VOO, FLARX. These 12 comparison targets span 6 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Guggenheim Strategic Opportunities Fund | Multisector Bonds, Diversified Portfolio, Actively Managed | 1 | -9.63% | — | Jul 2007 | FCT vs GOF | |
| Vanguard S&P 500 ETF | S&P 500 | 59 | 8.19% | 1.70T | Sep 2010 | FCT vs VOO | |
| Victory Pioneer Floating Rate Fund Class A | Bank Loan | 83 | 1.61% | — | Feb 2007 | FCT vs FLARX | |
| FT Cboe Vest Rising Dividend Achievers Target Inco... | Derivative Income | 69 | 13.37% | 3.76B | Oct 2022 | FCT vs RDVI | |
| BlackRock Floating Rate Income Trust | Bank Loan | 2 | 0.07% | — | Aug 2004 | FCT vs BGT | |
| Delaware Floating Rate Fund | Bank Loan | 95 | 1.63% | — | Feb 2010 | FCT vs DDFLX | |
| Pacific Funds Floating Rate Income | Bank Loan | 82 | 0.99% | — | Jun 2011 | FCT vs PLFRX | |
| Federated Hermes Floating Rate Strat Inc Fund | Bank Loan | 87 | 0.90% | — | Dec 2010 | FCT vs FFRSX | |
| DWS Floating Rate Fund Class S | Bank Loan | — | — | — | Jun 2007 | FCT vs DFRPX | |
| DWS Floating Rate Fund | Bank Loan | — | — | — | Jun 2007 | FCT vs DFRTX | |
| Pioneer Floating Rate Fund | Bank Loan | 86 | 1.58% | — | Feb 2007 | FCT vs FLYRX | |
| BlackRock Debt Strategies Fund, Inc. | Bank Loan | 8 | 1.58% | — | Nov 1998 | FCT vs DSU |
Compare FCT with Any Fund or Stock
Compare FCT with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FCT with funds that move differently
First Trust Senior Floating Rate Income Fund II alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FCT.
Explore FCT Diversifiers