AFRAX vs. EIFAX
AFRAX (Invesco Floating Rate ESG Fund) and EIFAX (Eaton Vance Floating-Rate Advantage Fund) are both Bank Loan funds. Over the past 10 years, AFRAX returned 4.34%/yr vs 4.88%/yr for EIFAX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. AFRAX charges 1.04%/yr vs 0.47%/yr for EIFAX.
Performance
AFRAX vs. EIFAX - Performance Comparison
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Returns By Period
In the year-to-date period, AFRAX achieves a 0.73% return, which is significantly higher than EIFAX's 0.51% return. Over the past 10 years, AFRAX has underperformed EIFAX with an annualized return of 4.34%, while EIFAX has yielded a comparatively higher 4.88% annualized return.
AFRAX
- 1D
- 0.16%
- 1M
- 0.00%
- 6M
- 1.06%
- YTD
- 0.73%
- 1Y
- 2.11%
- 3Y*
- 5.20%
- 5Y*
- 4.41%
- 10Y*
- 4.34%
- ALL TIME*
- 2.45%
EIFAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.83%
- YTD
- 0.51%
- 1Y
- 2.27%
- 3Y*
- 5.92%
- 5Y*
- 4.82%
- 10Y*
- 4.88%
- ALL TIME*
- 5.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
AFRAX vs. EIFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AFRAX Invesco Floating Rate ESG Fund | 0.73% | 4.57% | 6.80% | 10.86% | -2.26% | 6.24% | 1.53% | 7.25% | -0.19% | 3.99% |
EIFAX Eaton Vance Floating-Rate Advantage Fund | 0.51% | 4.54% | 8.91% | 11.86% | -2.98% | 5.41% | 1.90% | 9.02% | 0.28% | 5.16% |
Correlation
The correlation between AFRAX and EIFAX is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2008 | 0.67 |
Over the past year, the correlation between AFRAX and EIFAX has dropped to 0.46 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
AFRAX vs. EIFAX — Risk / Return Rank
AFRAX
EIFAX
AFRAX vs. EIFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Floating Rate ESG Fund (AFRAX) and Eaton Vance Floating-Rate Advantage Fund (EIFAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AFRAX | EIFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.31 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 1.20 | +1.01 |
| Martin ratioReturn relative to average drawdown | 6.36 | 3.60 | +2.76 |
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Drawdowns
AFRAX vs. EIFAX - Drawdown Comparison
The maximum AFRAX drawdown since its inception was -37.60%, smaller than the maximum EIFAX drawdown of -40.28%. Use the drawdown chart below to compare losses from any high point for AFRAX and EIFAX.
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Drawdown Indicators
| AFRAX | EIFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.60% | -40.28% | +2.68% |
Max Drawdown (1Y)Largest decline over 1 year | -1.41% | -2.29% | +0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -2.62% | -3.43% | +0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -6.29% | -7.63% | +1.34% |
Max Drawdown (10Y)Largest decline over 10 years | -18.91% | -24.22% | +5.31% |
Current DrawdownCurrent decline from peak | -0.16% | -0.21% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -2.25% | -2.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 0.76% | -0.27% |
Volatility
AFRAX vs. EIFAX - Volatility Comparison
Invesco Floating Rate ESG Fund (AFRAX) has a higher volatility of 0.40% compared to Eaton Vance Floating-Rate Advantage Fund (EIFAX) at 0.24%. This indicates that AFRAX's price experiences larger fluctuations and is considered to be riskier than EIFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AFRAX | EIFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 0.24% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.05% | 1.93% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.83% | 2.52% | +0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.24% | 3.15% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.73% | 4.45% | -0.72% |
AFRAX vs. EIFAX - Expense Ratio Comparison
AFRAX has a 1.04% expense ratio, which is higher than EIFAX's 0.47% expense ratio.
Dividends
AFRAX vs. EIFAX - Dividend Comparison
AFRAX's dividend yield for the trailing twelve months is around 7.04%, more than EIFAX's 6.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFRAX Invesco Floating Rate ESG Fund | 7.04% | 8.06% | 8.39% | 7.85% | 7.03% | 3.84% | 4.13% | 5.52% | 4.59% | 4.04% | 4.01% | 5.23% |
EIFAX Eaton Vance Floating-Rate Advantage Fund | 6.86% | 8.09% | 8.91% | 7.02% | 5.92% | 4.03% | 4.51% | 5.58% | 5.10% | 4.46% | 5.02% | 5.29% |
Frequently Asked Questions
AFRAX and EIFAX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AFRAX has higher volatility (0.40%) compared to EIFAX (0.24%). In terms of maximum drawdown, AFRAX dropped -37.60% vs EIFAX's -40.28%.
AFRAX currently has the higher Sharpe Ratio (1.10 vs 1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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