FLOTX vs. PFLRX

Last updated Jun 24, 2026

FLOTX (Donoghue Forlines Risk Managed Income Fund) and PFLRX (Putnam Floating Rate Income Fund) are both Bank Loan funds. Over the past 5 years, FLOTX returned 2.69%/yr vs 4.03%/yr for PFLRX. At a 0.33 correlation, their price movements are largely independent. FLOTX charges 1.07%/yr vs 1.03%/yr for PFLRX.

Performance

FLOTX vs. PFLRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Donoghue Forlines Risk Managed Income Fund (FLOTX) and Putnam Floating Rate Income Fund (PFLRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FLOTX

• 1D: 0.00%
• 1M: 0.33%
• YTD: -0.55%
• 6M: -0.45%
• 1Y: 2.89%
• 3Y*: 4.87%
• 5Y*: 2.69%
• 10Y*: —

PFLRX

• 1D: 0.00%
• 1M: 0.43%
• YTD: -0.00%
• 6M: 0.44%
• 1Y: 3.15%
• 3Y*: 5.67%
• 5Y*: 4.03%
• 10Y*: 3.76%

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

FLOTX vs. PFLRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FLOTX Donoghue Forlines Risk Managed Income Fund	-0.55%	2.47%	6.76%	8.28%	-3.59%	2.45%	3.95%	3.51%	1.96%
PFLRX Putnam Floating Rate Income Fund	-0.00%	4.74%	6.34%	11.01%	-2.78%	3.04%	0.69%	8.14%	-1.77%

Correlation

The correlation between FLOTX and PFLRX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Mar 28, 2018	0.33

Return for Risk

FLOTX vs. PFLRX — Risk / Return Rank

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

FLOTX

FLOTX Risk / Return Rank: 36
FLOTX Sharpe Ratio Rank: 43
FLOTX Sortino Ratio Rank: 45
FLOTX Omega Ratio Rank: 62
FLOTX Calmar Ratio Rank: 15
FLOTX Martin Ratio Rank: 12

PFLRX

PFLRX Risk / Return Rank: 34
PFLRX Sharpe Ratio Rank: 28
PFLRX Sortino Ratio Rank: 46
PFLRX Omega Ratio Rank: 56
PFLRX Calmar Ratio Rank: 23
PFLRX Martin Ratio Rank: 19

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.

FLOTX vs. PFLRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Donoghue Forlines Risk Managed Income Fund (FLOTX) and Putnam Floating Rate Income Fund (PFLRX). 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.

	FLOTX	PFLRX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.39	+0.40
Sortino ratio: Return per unit of downside risk	2.61	2.63	-0.02
Omega ratio: Gain probability vs. loss probability	1.40	1.38	+0.02
Calmar ratio: Return relative to maximum drawdown	1.28	1.66	-0.39
Martin ratio: Return relative to average drawdown	3.31	4.44	-1.14

FLOTX vs. PFLRX - Sharpe Ratio Comparison

The current FLOTX Sharpe Ratio is 1.80, which is comparable to the PFLRX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of FLOTX and PFLRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FLOTX vs. PFLRX - Drawdown Comparison

The maximum FLOTX drawdown since its inception was -4.40%, smaller than the maximum PFLRX drawdown of -32.89%. Use the drawdown chart below to compare losses from any high point for FLOTX and PFLRX.

Drawdown Indicators

	FLOTX	PFLRX	Difference
Max Drawdown Largest peak-to-trough decline	-4.40%	-32.89%	+28.49%
Max Drawdown (1Y) Largest decline over 1 year	-2.36%	-1.98%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-3.34%	-3.01%	-0.33%
Max Drawdown (5Y) Largest decline over 5 years	-4.40%	-6.95%	+2.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.74%	—
Current Drawdown Current decline from peak	-0.97%	-0.39%	-0.58%
Average Drawdown Average peak-to-trough decline	-1.03%	-1.74%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	0.74%	+0.17%

Volatility

FLOTX vs. PFLRX - Volatility Comparison

The current volatility for Donoghue Forlines Risk Managed Income Fund (FLOTX) is 0.48%, while Putnam Floating Rate Income Fund (PFLRX) has a volatility of 0.67%. This indicates that FLOTX experiences smaller price fluctuations and is considered to be less risky than PFLRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLOTX	PFLRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.48%	0.67%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	1.35%	1.62%	-0.27%
Volatility (1Y) Calculated over the trailing 1-year period	1.68%	2.37%	-0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.69%	2.83%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.45%	4.02%	-1.57%

FLOTX vs. PFLRX - Expense Ratio Comparison

FLOTX has a 1.07% expense ratio, which is higher than PFLRX's 1.03% expense ratio.

Dividends

FLOTX vs. PFLRX - Dividend Comparison

FLOTX's dividend yield for the trailing twelve months is around 6.80%, more than PFLRX's 6.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLOTX Donoghue Forlines Risk Managed Income Fund	6.80%	5.79%	7.15%	7.16%	1.56%	2.13%	2.42%	3.78%	3.20%	0.00%	0.00%	0.00%
PFLRX Putnam Floating Rate Income Fund	6.30%	6.69%	6.25%	7.27%	3.48%	2.63%	3.10%	4.56%	4.54%	3.69%	3.71%	4.45%

Frequently Asked Questions

Can I hold both FLOTX and PFLRX in my portfolio?

FLOTX and PFLRX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLOTX or PFLRX?

PFLRX has higher volatility (0.67%) compared to FLOTX (0.48%). In terms of maximum drawdown, FLOTX dropped -4.40% vs PFLRX's -32.89%.

Which has better risk-adjusted returns?

FLOTX currently has the higher Sharpe Ratio (1.80 vs 1.39), 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.