DFLYX vs. PLFRX

Last updated Jun 4, 2026

DFLYX (BNY Mellon Floating Rate Income Fund) and PLFRX (Pacific Funds Floating Rate Income) are both Bank Loan funds. Over the past 10 years, DFLYX returned 4.95%/yr vs 5.11%/yr for PLFRX. A 0.52 correlation means they provide meaningful diversification when combined. DFLYX charges 0.73%/yr vs 0.68%/yr for PLFRX.

Performance

DFLYX vs. PLFRX - Performance Comparison

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

Returns By Period

In the year-to-date period, DFLYX achieves a 1.81% return, which is significantly higher than PLFRX's 1.32% return. Both investments have delivered pretty close results over the past 10 years, with DFLYX having a 4.95% annualized return and PLFRX not far ahead at 5.11%.

DFLYX

• 1D: 0.00%
• 1M: 0.69%
• YTD: 1.81%
• 6M: 1.81%
• 1Y: 4.95%
• 3Y*: 8.48%
• 5Y*: 5.99%
• 10Y*: 4.95%

PLFRX

• 1D: 0.00%
• 1M: 0.55%
• YTD: 1.32%
• 6M: 2.15%
• 1Y: 6.15%
• 3Y*: 8.42%
• 5Y*: 5.90%
• 10Y*: 5.11%

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

DFLYX vs. PLFRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFLYX BNY Mellon Floating Rate Income Fund	1.81%	4.84%	9.77%	13.29%	-1.15%	4.84%	2.66%	7.15%	-0.58%	3.48%
PLFRX Pacific Funds Floating Rate Income	1.32%	6.68%	8.38%	13.94%	-2.01%	4.36%	1.26%	8.30%	0.39%	4.33%

Correlation

The correlation between DFLYX and PLFRX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.52

The correlation between DFLYX and PLFRX has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.

Return for Risk

DFLYX vs. PLFRX — Risk / Return Rank

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

DFLYX

DFLYX Risk / Return Rank: 81
DFLYX Sharpe Ratio Rank: 98
DFLYX Sortino Ratio Rank: 98
DFLYX Omega Ratio Rank: 97
DFLYX Calmar Ratio Rank: 59
DFLYX Martin Ratio Rank: 55

PLFRX

PLFRX Risk / Return Rank: 82
PLFRX Sharpe Ratio Rank: 75
PLFRX Sortino Ratio Rank: 97
PLFRX Omega Ratio Rank: 97
PLFRX Calmar Ratio Rank: 79
PLFRX Martin Ratio Rank: 62

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.

DFLYX vs. PLFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Floating Rate Income Fund (DFLYX) and Pacific Funds Floating Rate Income (PLFRX). 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.

	DFLYX	PLFRX	Difference
Sharpe ratio Return per unit of total volatility	3.79	2.51	+1.29
Sortino ratio Return per unit of downside risk	6.30	5.67	+0.63
Omega ratio Gain probability vs. loss probability	2.03	1.90	+0.13
Calmar ratio Return relative to maximum drawdown	2.96	3.57	-0.61
Martin ratio Return relative to average drawdown	11.15	12.24	-1.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFLYX vs. PLFRX - Sharpe Ratio Comparison

The current DFLYX Sharpe Ratio is 3.79, which is higher than the PLFRX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of DFLYX and PLFRX, 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

	DFLYX	PLFRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.79	2.51	+1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	3.13	2.13	+1.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.63	1.36	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	1.53	1.47	+0.06

Drawdowns

DFLYX vs. PLFRX - Drawdown Comparison

The maximum DFLYX drawdown since its inception was -18.83%, roughly equal to the maximum PLFRX drawdown of -18.75%. Use the drawdown chart below to compare losses from any high point for DFLYX and PLFRX.

Drawdown Indicators

	DFLYX	PLFRX	Difference
Max Drawdown Largest peak-to-trough decline	-18.83%	-18.75%	-0.08%
Max Drawdown (1Y) Largest decline over 1 year	-1.71%	-1.73%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-2.49%	-2.17%	-0.32%
Max Drawdown (5Y) Largest decline over 5 years	-6.28%	-6.44%	+0.16%
Max Drawdown (10Y) Largest decline over 10 years	-18.83%	-18.75%	-0.08%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.79%	-0.73%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	0.50%	-0.05%

Volatility

DFLYX vs. PLFRX - Volatility Comparison

The current volatility for BNY Mellon Floating Rate Income Fund (DFLYX) is 0.31%, while Pacific Funds Floating Rate Income (PLFRX) has a volatility of 0.61%. This indicates that DFLYX experiences smaller price fluctuations and is considered to be less risky than PLFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFLYX	PLFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.31%	0.61%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	1.14%	1.89%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	1.34%	2.46%	-1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.93%	2.78%	-0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.05%	3.77%	-0.72%

DFLYX vs. PLFRX - Expense Ratio Comparison

DFLYX has a 0.73% expense ratio, which is higher than PLFRX's 0.68% expense ratio.

Dividends

DFLYX vs. PLFRX - Dividend Comparison

DFLYX's dividend yield for the trailing twelve months is around 7.82%, more than PLFRX's 7.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PLFRX Pacific Funds Floating Rate Income	7.08%	7.18%	8.47%	8.92%	4.39%	3.65%	3.68%	5.10%	5.03%	4.46%	4.21%	4.52%

Frequently Asked Questions

Can I hold both DFLYX and PLFRX in my portfolio?

DFLYX and PLFRX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFLYX or PLFRX?

PLFRX has higher volatility (0.61%) compared to DFLYX (0.31%). In terms of maximum drawdown, DFLYX dropped -18.83% vs PLFRX's -18.75%.

Which has better risk-adjusted returns?

DFLYX currently has the higher Sharpe Ratio (3.79 vs 2.51), 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.