DFLYX vs. CCLFX
DFLYX (BNY Mellon Floating Rate Income Fund) and CCLFX (Cliffwater Corporate Lending Fund Class I Shares) are both Bank Loan funds. Over the past 5 years, DFLYX returned 6.03%/yr vs 8.72%/yr for CCLFX. Their 0.20 correlation means their historical movements had little consistent relationship. DFLYX charges 0.73%/yr vs 3.27%/yr for CCLFX.
Performance
DFLYX vs. CCLFX - Performance Comparison
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Returns By Period
In the year-to-date period, DFLYX achieves a 2.32% return, which is significantly lower than CCLFX's 3.28% return.
DFLYX
- 1D
- 0.00%
- 1M
- 0.28%
- 6M
- 2.23%
- YTD
- 2.32%
- 1Y
- 3.82%
- 3Y*
- 7.56%
- 5Y*
- 6.03%
- 10Y*
- 4.87%
- ALL TIME*
- 4.31%
CCLFX
- 1D
- 0.00%
- 1M
- 0.49%
- 6M
- 2.89%
- YTD
- 3.28%
- 1Y
- 6.75%
- 3Y*
- 10.13%
- 5Y*
- 8.72%
- 10Y*
- —
- ALL TIME*
- 8.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
DFLYX vs. CCLFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DFLYX BNY Mellon Floating Rate Income Fund | 2.32% | 4.84% | 9.77% | 13.29% | -1.15% | 4.84% | 2.66% | 2.46% |
CCLFX Cliffwater Corporate Lending Fund Class I Shares | 3.28% | 8.93% | 12.62% | 12.66% | 2.32% | 10.38% | 8.73% | 2.12% |
Correlation
The correlation between DFLYX and CCLFX is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2019 | 0.20 |
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Return for Risk
DFLYX vs. CCLFX — Risk / Return Rank
DFLYX
CCLFX
DFLYX vs. CCLFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Floating Rate Income Fund (DFLYX) and Cliffwater Corporate Lending Fund Class I Shares (CCLFX). 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.
| DFLYX | CCLFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.36 | ||
| Sortino ratioReturn per unit of downside risk | -14.15 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 6.80 | -5.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 36.47 | -34.23 |
| Martin ratioReturn relative to average drawdown | 8.40 | 200.30 | -191.90 |
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Drawdowns
DFLYX vs. CCLFX - Drawdown Comparison
The maximum DFLYX drawdown since its inception was -18.83%, which is greater than CCLFX's maximum drawdown of -3.91%. Use the drawdown chart below to compare losses from any high point for DFLYX and CCLFX.
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Drawdown Indicators
| DFLYX | CCLFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.83% | -3.91% | -14.92% |
Max Drawdown (1Y)Largest decline over 1 year | -1.71% | -0.19% | -1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -2.49% | -0.46% | -2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -6.28% | -2.25% | -4.03% |
Max Drawdown (10Y)Largest decline over 10 years | -18.83% | — | — |
Current DrawdownCurrent decline from peak | -0.09% | 0.00% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -0.78% | -0.16% | -0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.03% | +0.42% |
Volatility
DFLYX vs. CCLFX - Volatility Comparison
BNY Mellon Floating Rate Income Fund (DFLYX) has a higher volatility of 0.25% compared to Cliffwater Corporate Lending Fund Class I Shares (CCLFX) at 0.20%. This indicates that DFLYX's price experiences larger fluctuations and is considered to be riskier than CCLFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFLYX | CCLFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.25% | 0.20% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.11% | 0.64% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.35% | 0.85% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.93% | 1.73% | +0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.04% | 1.86% | +1.18% |
DFLYX vs. CCLFX - Expense Ratio Comparison
DFLYX has a 0.73% expense ratio, which is lower than CCLFX's 3.27% expense ratio.
Dividends
DFLYX vs. CCLFX - Dividend Comparison
DFLYX's dividend yield for the trailing twelve months is around 7.69%, less than CCLFX's 10.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCLFX Cliffwater Corporate Lending Fund Class I Shares | 10.08% | 10.47% | 11.27% | 10.96% | 3.96% | 7.03% | 6.90% | 0.61% | 0.00% | 0.00% | 0.00% | 0.00% |
DFLYX BNY Mellon Floating Rate Income Fund | 7.05% | 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
DFLYX and CCLFX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFLYX has higher volatility (0.25%) compared to CCLFX (0.20%). In terms of maximum drawdown, DFLYX dropped -18.83% vs CCLFX's -3.91%.
CCLFX currently has the higher Sharpe Ratio (8.19 vs 2.84), 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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