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Putnam Floating Rate Income Fund (PFLRX) Diversifiers

Mutual Fund · Currency in USD · Last updated Aug 5, 2026
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The investment seeks high current income, while preservation of capital is a secondary goal. The fund invests mainly in corporate loans and debt securities that have floating rates of interest and other corporate debt securities. It will invest at least 80% of its net assets in income-producing floating rate loans and other floating rate debt securities. The fund invests mainly in obligations of U.S. issuers that are below-investment-grade in quality. The adviser may consider, among other factors, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell investments.

Looking to diversify beyond PFLRX? The mutual funds below have historically moved differently from PFLRX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.

Best Diversifiers for PFLRX

5 mutual funds have low correlation with PFLRX (below 0.3), 1 of which are negatively correlated. The least correlated is Federated Hermes Project and Trade Finance Tender Fund (XPTFX) (Bank Loan) with a 1Y correlation of -0.20, down from 0.07 over 5 years.

How candidates are selected
SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
XPTFX
Federated Hermes Project and Trade Finance Tender ...-0.20-0.020.07
92
Bank LoanPFLRX vs XPTFX
RCRIX
RiverPark Floating Rate CMBS Fund0.020.090.16
99
Bank LoanPFLRX vs RCRIX
CAPIX
Calamos Aksia Alternative Credit and Income Fund C...0.08——
99
Bank LoanPFLRX vs CAPIX
PSDYX
Putnam Ultra Short Duration Income Fund0.280.280.26
98
Ultrashort BondPFLRX vs PSDYX
PEQSX
Putnam Large Cap Value Fund Class R60.300.340.33
95
Large Cap Value EquitiesPFLRX vs PEQSX
See all 27 diversifiers for PFLRX

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