FAFRX vs. BGT
FAFRX (Franklin Floating Rate Daily Access Fund Class A) and BGT (BlackRock Floating Rate Income Trust) are both Bank Loan funds. Over the past 10 years, FAFRX returned 4.07%/yr vs 6.35%/yr for BGT. At a 0.16 correlation, their price movements are largely independent. FAFRX charges 0.95%/yr vs 1.74%/yr for BGT.
Performance
FAFRX vs. BGT - Performance Comparison
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Returns By Period
In the year-to-date period, FAFRX achieves a 1.53% return, which is significantly lower than BGT's 2.25% return. Over the past 10 years, FAFRX has underperformed BGT with an annualized return of 4.07%, while BGT has yielded a comparatively higher 6.35% annualized return.
FAFRX
- 1D
- 0.00%
- 1M
- 0.74%
- 6M
- 1.12%
- YTD
- 1.53%
- 1Y
- 2.83%
- 3Y*
- 6.59%
- 5Y*
- 5.79%
- 10Y*
- 4.07%
BGT
- 1D
- 0.56%
- 1M
- 1.51%
- 6M
- -0.48%
- YTD
- 2.25%
- 1Y
- -1.98%
- 3Y*
- 9.61%
- 5Y*
- 6.93%
- 10Y*
- 6.35%
FAFRX vs. BGT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAFRX Franklin Floating Rate Daily Access Fund Class A | 1.53% | 4.41% | 8.25% | 14.10% | -1.75% | 8.41% | -4.37% | 3.17% | 0.57% | 2.19% |
BGT BlackRock Floating Rate Income Trust | 2.25% | -0.84% | 16.12% | 26.29% | -16.57% | 25.89% | -0.81% | 18.97% | -11.95% | 3.91% |
Correlation
The correlation between FAFRX and BGT is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2004 | 0.16 |
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Return for Risk
FAFRX vs. BGT — Risk / Return Rank
FAFRX
BGT
FAFRX vs. BGT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Floating Rate Daily Access Fund Class A (FAFRX) and BlackRock Floating Rate Income Trust (BGT). 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.
| FAFRX | BGT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.97 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | -0.18 | +1.79 |
| Martin ratioReturn relative to average drawdown | 4.72 | -0.37 | +5.09 |
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Drawdowns
FAFRX vs. BGT - Drawdown Comparison
The maximum FAFRX drawdown since its inception was -25.94%, smaller than the maximum BGT drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for FAFRX and BGT.
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Drawdown Indicators
| FAFRX | BGT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.94% | -58.06% | +32.12% |
Max Drawdown (1Y)Largest decline over 1 year | -1.78% | -11.06% | +9.28% |
Max Drawdown (3Y)Largest decline over 3 years | -2.86% | -15.91% | +13.05% |
Max Drawdown (5Y)Largest decline over 5 years | -6.28% | -23.19% | +16.91% |
Max Drawdown (10Y)Largest decline over 10 years | -18.09% | -41.90% | +23.81% |
Current DrawdownCurrent decline from peak | 0.00% | -3.99% | +3.99% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -8.11% | +6.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 5.35% | -4.75% |
Volatility
FAFRX vs. BGT - Volatility Comparison
The current volatility for Franklin Floating Rate Daily Access Fund Class A (FAFRX) is 0.84%, while BlackRock Floating Rate Income Trust (BGT) has a volatility of 2.21%. This indicates that FAFRX experiences smaller price fluctuations and is considered to be less risky than BGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAFRX | BGT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 2.21% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.00% | 7.06% | -5.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.95% | 9.79% | -6.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.32% | 13.56% | -10.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.84% | 15.33% | -11.49% |
FAFRX vs. BGT - Expense Ratio Comparison
FAFRX has a 0.95% expense ratio, which is lower than BGT's 1.74% expense ratio.
Dividends
FAFRX vs. BGT - Dividend Comparison
FAFRX's dividend yield for the trailing twelve months is around 7.62%, less than BGT's 13.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGT BlackRock Floating Rate Income Trust | 13.45% | 12.74% | 11.22% | 10.36% | 6.87% | 5.55% | 7.58% | 6.33% | 6.64% | 5.03% | 5.03% | 6.04% |
FAFRX Franklin Floating Rate Daily Access Fund Class A | 7.62% | 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
FAFRX and BGT have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGT has higher volatility (2.21%) compared to FAFRX (0.84%). In terms of maximum drawdown, FAFRX dropped -25.94% vs BGT's -58.06%.
FAFRX currently has the higher Sharpe Ratio (0.97 vs -0.20), 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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