EIFAX vs. BFRAX
EIFAX (Eaton Vance Floating-Rate Advantage Fund) and BFRAX (BlackRock Floating Rate Income Fund) are both Bank Loan funds. Over the past 10 years, EIFAX returned 5.07%/yr vs 4.36%/yr for BFRAX. A 0.70 correlation means they provide meaningful diversification when combined. EIFAX charges 0.47%/yr vs 0.90%/yr for BFRAX.
Performance
EIFAX vs. BFRAX - Performance Comparison
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Returns By Period
In the year-to-date period, EIFAX achieves a 0.16% return, which is significantly lower than BFRAX's 0.32% return. Over the past 10 years, EIFAX has outperformed BFRAX with an annualized return of 5.07%, while BFRAX has yielded a comparatively lower 4.36% annualized return.
EIFAX
- 1D
- -0.11%
- 1M
- 0.05%
- YTD
- 0.16%
- 6M
- 0.64%
- 1Y
- 3.16%
- 3Y*
- 6.78%
- 5Y*
- 4.81%
- 10Y*
- 5.07%
BFRAX
- 1D
- 0.00%
- 1M
- -0.13%
- YTD
- 0.32%
- 6M
- 0.85%
- 1Y
- 3.91%
- 3Y*
- 6.39%
- 5Y*
- 4.64%
- 10Y*
- 4.36%
EIFAX vs. BFRAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EIFAX Eaton Vance Floating-Rate Advantage Fund | 0.16% | 4.54% | 8.91% | 11.86% | -2.98% | 5.41% | 1.90% | 9.02% | 0.28% | 5.16% |
BFRAX BlackRock Floating Rate Income Fund | 0.32% | 5.35% | 8.12% | 9.94% | -1.43% | 3.59% | 2.39% | 8.60% | -0.74% | 3.10% |
Correlation
The correlation between EIFAX and BFRAX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2008 | 0.70 |
The correlation between EIFAX and BFRAX has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.
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Return for Risk
EIFAX vs. BFRAX — Risk / Return Rank
EIFAX
BFRAX
EIFAX vs. BFRAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Floating-Rate Advantage Fund (EIFAX) and BlackRock Floating Rate Income Fund (BFRAX). 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.
| EIFAX | BFRAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.51 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 2.31 | -0.88 |
| Martin ratioReturn relative to average drawdown | 4.31 | 7.11 | -2.79 |
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Drawdowns
EIFAX vs. BFRAX - Drawdown Comparison
The maximum EIFAX drawdown since its inception was -40.28%, smaller than the maximum BFRAX drawdown of -44.69%. Use the drawdown chart below to compare losses from any high point for EIFAX and BFRAX.
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Drawdown Indicators
| EIFAX | BFRAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.28% | -44.69% | +4.41% |
Max Drawdown (1Y)Largest decline over 1 year | -2.29% | -1.70% | -0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -3.43% | -2.81% | -0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -7.63% | -6.43% | -1.20% |
Max Drawdown (10Y)Largest decline over 10 years | -24.22% | -20.61% | -3.61% |
Current DrawdownCurrent decline from peak | -0.53% | -0.53% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -6.78% | +4.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.55% | +0.21% |
Volatility
EIFAX vs. BFRAX - Volatility Comparison
Eaton Vance Floating-Rate Advantage Fund (EIFAX) has a higher volatility of 0.72% compared to BlackRock Floating Rate Income Fund (BFRAX) at 0.65%. This indicates that EIFAX's price experiences larger fluctuations and is considered to be riskier than BFRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIFAX | BFRAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 0.65% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 1.68% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.59% | 2.26% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.15% | 2.80% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.46% | 3.95% | +0.51% |
EIFAX vs. BFRAX - Expense Ratio Comparison
EIFAX has a 0.47% expense ratio, which is lower than BFRAX's 0.90% expense ratio.
Dividends
EIFAX vs. BFRAX - Dividend Comparison
EIFAX's dividend yield for the trailing twelve months is around 7.65%, more than BFRAX's 6.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BFRAX BlackRock Floating Rate Income Fund | 6.47% | 6.68% | 8.00% | 6.24% | 4.09% | 2.91% | 3.81% | 4.65% | 4.58% | 3.45% | 3.90% | 4.02% |
EIFAX Eaton Vance Floating-Rate Advantage Fund | 7.65% | 8.09% | 8.91% | 7.02% | 5.92% | 4.03% | 4.51% | 5.58% | 5.10% | 4.46% | 5.02% | 5.29% |
Frequently Asked Questions
EIFAX and BFRAX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EIFAX has higher volatility (0.72%) compared to BFRAX (0.65%). In terms of maximum drawdown, EIFAX dropped -40.28% vs BFRAX's -44.69%.
BFRAX currently has the higher Sharpe Ratio (1.74 vs 1.27), 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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