BFRAX vs. PSRIX

Last updated Jul 16, 2026

BFRAX (BlackRock Floating Rate Income Fund) and PSRIX (PIMCO Low Duration Credit Fund) are both Bank Loan funds. Over the past 10 years, BFRAX returned 4.29%/yr vs 4.18%/yr for PSRIX. A 0.67 correlation means they provide meaningful diversification when combined. BFRAX charges 0.90%/yr vs 0.70%/yr for PSRIX.

Performance

BFRAX vs. PSRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Floating Rate Income Fund (BFRAX) and PIMCO Low Duration Credit Fund (PSRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFRAX achieves a 1.02% return, which is significantly lower than PSRIX's 1.27% return. Both investments have delivered pretty close results over the past 10 years, with BFRAX having a 4.29% annualized return and PSRIX not far behind at 4.18%.

BFRAX

• 1D: 0.00%
• 1M: 0.48%
• 6M: 0.81%
• YTD: 1.02%
• 1Y: 3.42%
• 3Y*: 6.28%
• 5Y*: 4.75%
• 10Y*: 4.29%

PSRIX

• 1D: 0.11%
• 1M: 0.28%
• 6M: 1.15%
• YTD: 1.27%
• 1Y: 4.94%
• 3Y*: 7.77%
• 5Y*: 5.18%
• 10Y*: 4.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BFRAX vs. PSRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BFRAX BlackRock Floating Rate Income Fund	1.02%	5.35%	8.12%	9.94%	-1.43%	3.59%	2.39%	8.60%	-0.74%	3.10%
PSRIX PIMCO Low Duration Credit Fund	1.27%	7.25%	9.40%	10.22%	-3.22%	3.39%	-1.37%	9.42%	-0.60%	3.82%

Correlation

The correlation between BFRAX and PSRIX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since May 2, 2011	0.67

The correlation between BFRAX and PSRIX has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.

Return for Risk

BFRAX vs. PSRIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BFRAX

BFRAX Risk / Return Rank: 59
BFRAX Sharpe Ratio Rank: 51
BFRAX Sortino Ratio Rank: 83
BFRAX Omega Ratio Rank: 84
BFRAX Calmar Ratio Rank: 44
BFRAX Martin Ratio Rank: 35

PSRIX

PSRIX Risk / Return Rank: 83
PSRIX Sharpe Ratio Rank: 72
PSRIX Sortino Ratio Rank: 90
PSRIX Omega Ratio Rank: 88
PSRIX Calmar Ratio Rank: 80
PSRIX Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BFRAX vs. PSRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Income Fund (BFRAX) and PIMCO Low Duration Credit Fund (PSRIX). 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.

	BFRAX	PSRIX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.87	-0.30
Sortino ratio: Return per unit of downside risk	3.15	3.72	-0.57
Omega ratio: Gain probability vs. loss probability	1.44	1.50	-0.05
Calmar ratio: Return relative to maximum drawdown	2.02	2.93	-0.91
Martin ratio: Return relative to average drawdown	6.16	11.77	-5.61

BFRAX vs. PSRIX - Sharpe Ratio Comparison

The current BFRAX Sharpe Ratio is 1.57, which is comparable to the PSRIX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of BFRAX and PSRIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BFRAX vs. PSRIX - Drawdown Comparison

The maximum BFRAX drawdown since its inception was -44.69%, which is greater than PSRIX's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for BFRAX and PSRIX.

Drawdown Indicators

	BFRAX	PSRIX	Difference
Max Drawdown Largest peak-to-trough decline	-44.69%	-19.26%	-25.43%
Max Drawdown (1Y) Largest decline over 1 year	-1.70%	-1.70%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-2.81%	-3.06%	+0.25%
Max Drawdown (5Y) Largest decline over 5 years	-6.43%	-7.10%	+0.67%
Max Drawdown (10Y) Largest decline over 10 years	-20.61%	-19.26%	-1.35%
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-6.77%	-0.92%	-5.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	0.42%	+0.14%

Volatility

BFRAX vs. PSRIX - Volatility Comparison

The current volatility for BlackRock Floating Rate Income Fund (BFRAX) is 0.51%, while PIMCO Low Duration Credit Fund (PSRIX) has a volatility of 0.62%. This indicates that BFRAX experiences smaller price fluctuations and is considered to be less risky than PSRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFRAX	PSRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	0.62%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	1.99%	-0.34%
Volatility (1Y) Calculated over the trailing 1-year period	2.20%	2.66%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.80%	3.17%	-0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.94%	3.92%	+0.02%

BFRAX vs. PSRIX - Expense Ratio Comparison

BFRAX has a 0.90% expense ratio, which is higher than PSRIX's 0.70% expense ratio.

Dividends

BFRAX vs. PSRIX - Dividend Comparison

BFRAX's dividend yield for the trailing twelve months is around 6.38%, less than PSRIX's 6.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFRAX BlackRock Floating Rate Income Fund	6.38%	6.68%	8.00%	6.24%	4.09%	2.91%	3.81%	4.65%	4.58%	3.45%	3.90%	4.02%
PSRIX PIMCO Low Duration Credit Fund	6.88%	7.18%	7.13%	5.82%	3.49%	4.32%	3.67%	4.92%	4.53%	3.95%	3.71%	4.01%

Frequently Asked Questions

Can I hold both BFRAX and PSRIX in my portfolio?

BFRAX and PSRIX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BFRAX or PSRIX?

PSRIX has higher volatility (0.62%) compared to BFRAX (0.51%). In terms of maximum drawdown, BFRAX dropped -44.69% vs PSRIX's -19.26%.

Which has better risk-adjusted returns?

PSRIX currently has the higher Sharpe Ratio (1.87 vs 1.57), 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.