BLW vs. PFRL

Last updated Jun 4, 2026

BLW (BlackRock Limited Duration Income Trust) is a stock, while PFRL (PGIM Floating Rate Income ETF) is Bank Loan fund actively managed by PGIM. Over the past 3 years, BLW returned 8.66%/yr vs 8.85%/yr for PFRL. At a 0.31 correlation, their price movements are largely independent.

Performance

BLW vs. PFRL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Limited Duration Income Trust (BLW) and PGIM Floating Rate Income ETF (PFRL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BLW achieves a -5.79% return, which is significantly lower than PFRL's 1.96% return.

BLW

• 1D: -0.72%
• 1M: -1.94%
• YTD: -5.79%
• 6M: -5.77%
• 1Y: -2.44%
• 3Y*: 8.66%
• 5Y*: 2.77%
• 10Y*: 6.43%

PFRL

• 1D: 0.09%
• 1M: 0.68%
• YTD: 1.96%
• 6M: 2.91%
• 1Y: 6.46%
• 3Y*: 8.85%
• 5Y*: —
• 10Y*: —

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

BLW vs. PFRL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BLW BlackRock Limited Duration Income Trust	-5.79%	7.17%	11.06%	17.29%	2.97%
PFRL PGIM Floating Rate Income ETF	1.96%	6.25%	9.40%	13.75%	1.27%

Correlation

The correlation between BLW and PFRL is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (All Time) Calculated using the full available price history since May 25, 2022	0.31

The correlation between BLW and PFRL shifts across timeframes, from 0.19 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BLW vs. PFRL — Risk / Return Rank

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

BLW

BLW Risk / Return Rank: 26
BLW Sharpe Ratio Rank: 27
BLW Sortino Ratio Rank: 22
BLW Omega Ratio Rank: 21
BLW Calmar Ratio Rank: 33
BLW Martin Ratio Rank: 27

PFRL

PFRL Risk / Return Rank: 91
PFRL Sharpe Ratio Rank: 92
PFRL Sortino Ratio Rank: 94
PFRL Omega Ratio Rank: 95
PFRL Calmar Ratio Rank: 88
PFRL Martin Ratio Rank: 84

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.

BLW vs. PFRL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Limited Duration Income Trust (BLW) and PGIM Floating Rate Income ETF (PFRL). 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.

	BLW	PFRL	Difference
Sharpe ratio: Return per unit of total volatility	-0.31	3.35	-3.66
Sortino ratio: Return per unit of downside risk	-0.38	4.84	-5.22
Omega ratio: Gain probability vs. loss probability	0.95	1.73	-0.78
Calmar ratio: Return relative to maximum drawdown	-0.22	5.17	-5.39
Martin ratio: Return relative to average drawdown	-0.71	17.58	-18.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLW vs. PFRL - Sharpe Ratio Comparison

The current BLW Sharpe Ratio is -0.31, which is lower than the PFRL Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of BLW and PFRL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BLW	PFRL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.31	3.35	-3.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	1.67	-1.27

Drawdowns

BLW vs. PFRL - Drawdown Comparison

The maximum BLW drawdown since its inception was -44.13%, which is greater than PFRL's maximum drawdown of -8.83%. Use the drawdown chart below to compare losses from any high point for BLW and PFRL.

Drawdown Indicators

	BLW	PFRL	Difference
Max Drawdown Largest peak-to-trough decline	-44.13%	-8.83%	-35.30%
Max Drawdown (1Y) Largest decline over 1 year	-11.19%	-1.25%	-9.94%
Max Drawdown (3Y) Largest decline over 3 years	-11.19%	-8.83%	-2.36%
Max Drawdown (5Y) Largest decline over 5 years	-26.30%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.85%	—	—
Current Drawdown Current decline from peak	-7.80%	-0.03%	-7.77%
Average Drawdown Average peak-to-trough decline	-6.04%	-0.44%	-5.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	0.37%	+3.06%

Volatility

BLW vs. PFRL - Volatility Comparison

BlackRock Limited Duration Income Trust (BLW) has a higher volatility of 2.34% compared to PGIM Floating Rate Income ETF (PFRL) at 0.42%. This indicates that BLW's price experiences larger fluctuations and is considered to be riskier than PFRL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLW	PFRL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.34%	0.42%	+1.92%
Volatility (6M) Calculated over the trailing 6-month period	6.92%	1.58%	+5.34%
Volatility (1Y) Calculated over the trailing 1-year period	7.93%	1.94%	+5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.32%	4.86%	+7.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.59%	4.86%	+9.73%

Dividends

BLW vs. PFRL - Dividend Comparison

BLW's dividend yield for the trailing twelve months is around 10.95%, more than PFRL's 6.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLW BlackRock Limited Duration Income Trust	10.95%	9.89%	9.39%	8.63%	8.26%	6.99%	7.39%	6.27%	7.14%	6.24%	9.68%	8.26%
PFRL PGIM Floating Rate Income ETF	6.83%	7.34%	8.96%	9.84%	3.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BLW and PFRL in my portfolio?

BLW and PFRL have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLW or PFRL?

BLW has higher volatility (2.34%) compared to PFRL (0.42%). In terms of maximum drawdown, BLW dropped -44.13% vs PFRL's -8.83%.

Which has better risk-adjusted returns?

PFRL currently has the higher Sharpe Ratio (3.35 vs -0.31), 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.