BSL vs. PIAMX
BSL (Blackstone Senior Floating Rate 2027 Term Fund) and PIAMX (PIA High Yield (MACS) Fund) are both High Yield Bonds funds. Over the past 5 years, BSL returned 3.97%/yr vs 4.13%/yr for PIAMX. At a 0.23 correlation, their price movements are largely independent. BSL charges 1.50%/yr vs 0.20%/yr for PIAMX.
Performance
BSL vs. PIAMX - Performance Comparison
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Returns By Period
In the year-to-date period, BSL achieves a -0.89% return, which is significantly lower than PIAMX's 1.55% return.
BSL
- 1D
- 0.00%
- 1M
- 0.50%
- YTD
- -0.89%
- 6M
- -0.41%
- 1Y
- -0.79%
- 3Y*
- 10.75%
- 5Y*
- 3.97%
- 10Y*
- 5.87%
PIAMX
- 1D
- 0.12%
- 1M
- 1.08%
- YTD
- 1.55%
- 6M
- 1.74%
- 1Y
- 3.24%
- 3Y*
- 7.58%
- 5Y*
- 4.13%
- 10Y*
- —
BSL vs. PIAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BSL Blackstone Senior Floating Rate 2027 Term Fund | -0.89% | 2.15% | 18.16% | 20.03% | -22.88% | 28.33% | -4.44% | 14.06% | -7.27% |
PIAMX PIA High Yield (MACS) Fund | 1.55% | 2.34% | 11.23% | 16.38% | -10.93% | 7.82% | 9.05% | 11.77% | -2.63% |
Correlation
The correlation between BSL and PIAMX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2018 | 0.23 |
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Return for Risk
BSL vs. PIAMX — Risk / Return Rank
BSL
PIAMX
BSL vs. PIAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackstone Senior Floating Rate 2027 Term Fund (BSL) and PIA High Yield (MACS) Fund (PIAMX). 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.
| BSL | PIAMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.22 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 0.93 | -1.03 |
| Martin ratioReturn relative to average drawdown | -0.24 | 2.79 | -3.03 |
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Drawdowns
BSL vs. PIAMX - Drawdown Comparison
The maximum BSL drawdown since its inception was -43.83%, which is greater than PIAMX's maximum drawdown of -18.15%. Use the drawdown chart below to compare losses from any high point for BSL and PIAMX.
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Drawdown Indicators
| BSL | PIAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.83% | -18.15% | -25.68% |
Max Drawdown (1Y)Largest decline over 1 year | -7.86% | -3.75% | -4.11% |
Max Drawdown (3Y)Largest decline over 3 years | -7.86% | -6.17% | -1.69% |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | -13.92% | -10.56% |
Max Drawdown (10Y)Largest decline over 10 years | -43.83% | — | — |
Current DrawdownCurrent decline from peak | -3.32% | 0.00% | -3.32% |
Average DrawdownAverage peak-to-trough decline | -7.34% | -2.33% | -5.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 1.25% | +2.10% |
Volatility
BSL vs. PIAMX - Volatility Comparison
Blackstone Senior Floating Rate 2027 Term Fund (BSL) has a higher volatility of 0.86% compared to PIA High Yield (MACS) Fund (PIAMX) at 0.58%. This indicates that BSL's price experiences larger fluctuations and is considered to be riskier than PIAMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSL | PIAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.58% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 5.24% | 2.43% | +2.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.62% | 3.12% | +3.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.49% | 4.04% | +6.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.40% | 4.22% | +12.18% |
BSL vs. PIAMX - Expense Ratio Comparison
BSL has a 1.50% expense ratio, which is higher than PIAMX's 0.20% expense ratio.
Dividends
BSL vs. PIAMX - Dividend Comparison
BSL's dividend yield for the trailing twelve months is around 8.35%, more than PIAMX's 7.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSL Blackstone Senior Floating Rate 2027 Term Fund | 8.35% | 8.45% | 9.46% | 10.76% | 6.89% | 5.75% | 7.65% | 8.15% | 9.21% | 5.93% | 5.86% | 7.27% |
PIAMX PIA High Yield (MACS) Fund | 7.84% | 9.12% | 8.49% | 8.12% | 7.99% | 8.64% | 6.63% | 6.96% | 7.14% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSL and PIAMX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSL has higher volatility (0.86%) compared to PIAMX (0.58%). In terms of maximum drawdown, BSL dropped -43.83% vs PIAMX's -18.15%.
PIAMX currently has the higher Sharpe Ratio (1.12 vs -0.12), 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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