CREDX vs. DFLYX

Last updated Jun 6, 2026

CREDX (BlackRock Credit Strategies Fund) and DFLYX (BNY Mellon Floating Rate Income Fund) are both Bank Loan funds. Over the past 5 years, CREDX returned 2.66%/yr vs 5.95%/yr for DFLYX. At a 0.39 correlation, their price movements are largely independent. CREDX charges 2.19%/yr vs 0.73%/yr for DFLYX.

Performance

CREDX vs. DFLYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Credit Strategies Fund (CREDX) and BNY Mellon Floating Rate Income Fund (DFLYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CREDX achieves a 1.93% return, which is significantly higher than DFLYX's 1.71% return.

CREDX

• 1D: 0.00%
• 1M: 0.53%
• YTD: 1.93%
• 6M: 2.04%
• 1Y: 5.36%
• 3Y*: 7.76%
• 5Y*: 2.66%
• 10Y*: —

DFLYX

• 1D: 0.00%
• 1M: 0.32%
• YTD: 1.71%
• 6M: 1.81%
• 1Y: 4.85%
• 3Y*: 8.41%
• 5Y*: 5.95%
• 10Y*: 4.93%

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

CREDX vs. DFLYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CREDX BlackRock Credit Strategies Fund	1.93%	5.55%	8.41%	12.18%	-12.08%	1.03%
DFLYX BNY Mellon Floating Rate Income Fund	1.71%	4.84%	9.77%	13.29%	-1.15%	4.57%

Correlation

The correlation between CREDX and DFLYX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 5, 2021	0.39

The correlation between CREDX and DFLYX shifts across timeframes, from 0.30 (3 years) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CREDX vs. DFLYX — Risk / Return Rank

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

CREDX

CREDX Risk / Return Rank: 65
CREDX Sharpe Ratio Rank: 36
CREDX Sortino Ratio Rank: 67
CREDX Omega Ratio Rank: 76
CREDX Calmar Ratio Rank: 86
CREDX Martin Ratio Rank: 58

DFLYX

DFLYX Risk / Return Rank: 81
DFLYX Sharpe Ratio Rank: 97
DFLYX Sortino Ratio Rank: 98
DFLYX Omega Ratio Rank: 97
DFLYX Calmar Ratio Rank: 58
DFLYX Martin Ratio Rank: 55

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.

CREDX vs. DFLYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Credit Strategies Fund (CREDX) and BNY Mellon Floating Rate Income Fund (DFLYX). 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.

	CREDX	DFLYX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	3.64	-1.97
Sortino ratio: Return per unit of downside risk	3.33	6.02	-2.69
Omega ratio: Gain probability vs. loss probability	1.48	1.97	-0.49
Calmar ratio: Return relative to maximum drawdown	4.05	2.85	+1.20
Martin ratio: Return relative to average drawdown	11.16	10.72	+0.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CREDX vs. DFLYX - Sharpe Ratio Comparison

The current CREDX Sharpe Ratio is 1.67, which is lower than the DFLYX Sharpe Ratio of 3.64. The chart below compares the historical Sharpe Ratios of CREDX and DFLYX, 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

	CREDX	DFLYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	3.64	-1.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	3.10	-2.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	1.53	-0.68

Drawdowns

CREDX vs. DFLYX - Drawdown Comparison

The maximum CREDX drawdown since its inception was -15.13%, smaller than the maximum DFLYX drawdown of -18.83%. Use the drawdown chart below to compare losses from any high point for CREDX and DFLYX.

Drawdown Indicators

	CREDX	DFLYX	Difference
Max Drawdown Largest peak-to-trough decline	-15.13%	-18.83%	+3.70%
Max Drawdown (1Y) Largest decline over 1 year	-1.33%	-1.71%	+0.38%
Max Drawdown (3Y) Largest decline over 3 years	-2.47%	-2.49%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-15.13%	-6.28%	-8.85%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.83%	—
Current Drawdown Current decline from peak	-0.12%	-0.09%	-0.03%
Average Drawdown Average peak-to-trough decline	-3.78%	-0.79%	-2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.45%	+0.03%

Volatility

CREDX vs. DFLYX - Volatility Comparison

BlackRock Credit Strategies Fund (CREDX) has a higher volatility of 0.72% compared to BNY Mellon Floating Rate Income Fund (DFLYX) at 0.33%. This indicates that CREDX's price experiences larger fluctuations and is considered to be riskier than DFLYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CREDX	DFLYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	0.33%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	1.14%	+1.10%
Volatility (1Y) Calculated over the trailing 1-year period	3.23%	1.34%	+1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.42%	1.93%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.33%	3.05%	+0.28%

CREDX vs. DFLYX - Expense Ratio Comparison

CREDX has a 2.19% expense ratio, which is higher than DFLYX's 0.73% expense ratio.

Dividends

CREDX vs. DFLYX - Dividend Comparison

CREDX's dividend yield for the trailing twelve months is around 9.19%, more than DFLYX's 7.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CREDX BlackRock Credit Strategies Fund	9.19%	9.16%	9.78%	9.98%	3.41%	5.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFLYX BNY Mellon Floating Rate Income Fund	7.82%	7.50%	8.78%	8.78%	5.49%	4.22%	4.66%	5.54%	5.19%	3.77%	4.14%	4.65%

Frequently Asked Questions

Can I hold both CREDX and DFLYX in my portfolio?

CREDX and DFLYX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CREDX or DFLYX?

CREDX has higher volatility (0.72%) compared to DFLYX (0.33%). In terms of maximum drawdown, CREDX dropped -15.13% vs DFLYX's -18.83%.

Which has better risk-adjusted returns?

DFLYX currently has the higher Sharpe Ratio (3.64 vs 1.67), 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.