CFOIX vs. FAFRX

Last updated Aug 1, 2026

CFOIX (Calvert Floating-Rate Advantage Fund) and FAFRX (Franklin Floating Rate Daily Access Fund Class A) are both Bank Loan funds. Their 0.57 correlation means they have sometimes moved together and sometimes differently. CFOIX charges 0.78%/yr vs 0.95%/yr for FAFRX.

Performance

CFOIX vs. FAFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert Floating-Rate Advantage Fund (CFOIX) and Franklin Floating Rate Daily Access Fund Class A (FAFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CFOIX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

FAFRX

• 1D: 0.00%
• 1M: 0.14%
• 6M: 1.37%
• YTD: 1.39%
• 1Y: 2.35%
• 3Y*: 6.31%
• 5Y*: 5.79%
• 10Y*: 3.98%
• ALL TIME*: 3.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FAFRX Franklin Floating Rate Daily Access Fund Class A	$0.00	$0.00	$0.00

CFOIX vs. FAFRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CFOIX Calvert Floating-Rate Advantage Fund	0.15%	3.48%	8.92%	12.09%	-4.21%	4.37%	0.62%	9.36%	-2.14%
FAFRX Franklin Floating Rate Daily Access Fund Class A	1.39%	4.41%	8.25%	14.10%	-1.75%	8.41%	-4.37%	3.17%	0.05%

Correlation

The correlation between CFOIX and FAFRX is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.48
Correlation (5Y) Shows whether the relationship held over a longer period.	0.59
Correlation (All Time) Calculated using the full available price history since Feb 28, 2018	0.57

The correlation between CFOIX and FAFRX shifts across timeframes, from 0.47 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CFOIX vs. FAFRX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CFOIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FAFRX

FAFRX Risk / Return Rank: 38
FAFRX Sharpe Ratio Rank: 27
FAFRX Sortino Ratio Rank: 42
FAFRX Omega Ratio Rank: 55
FAFRX Calmar Ratio Rank: 36
FAFRX Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CFOIX vs. FAFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert Floating-Rate Advantage Fund (CFOIX) and Franklin Floating Rate Daily Access Fund Class A (FAFRX). 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.

	CFOIX	FAFRX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.97	—
Sortino ratio: Return per unit of downside risk	—	1.85	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	1.60	—
Martin ratio: Return relative to average drawdown	—	4.71	—

Drawdowns

Drawdown Indicators

	CFOIX	FAFRX	Difference
Max Drawdown Largest peak-to-trough decline	—	-25.94%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.78%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.86%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-6.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.09%	—
Current Drawdown Current decline from peak	—	-0.14%	—
Average Drawdown Average peak-to-trough decline	—	-1.56%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.60%	—

Volatility

Volatility by Period

	CFOIX	FAFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.94%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	3.31%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	3.84%	—

CFOIX vs. FAFRX - Expense Ratio Comparison

CFOIX has a 0.78% expense ratio, which is lower than FAFRX's 0.95% expense ratio.

Dividends

CFOIX vs. FAFRX - Dividend Comparison

CFOIX's dividend yield for the trailing twelve months is around 4.88%, less than FAFRX's 7.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFOIX Calvert Floating-Rate Advantage Fund	4.88%	6.88%	8.62%	7.42%	5.02%	3.96%	4.23%	5.05%	4.20%	0.00%	0.00%	0.00%
FAFRX Franklin Floating Rate Daily Access Fund Class A	7.01%	7.76%	9.17%	7.43%	5.59%	3.47%	4.52%	5.38%	4.92%	3.55%	4.33%	4.84%

Frequently Asked Questions

Can I hold both CFOIX and FAFRX in my portfolio?

CFOIX and FAFRX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.