FLRN vs. PYHRX
Compare and contrast key facts about SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and Payden High Income Fund (PYHRX).
FLRN is a passively managed fund by State Street that tracks the performance of the Bloomberg US Floating Rate Notes (<5 Y). It was launched on Nov 30, 2011. PYHRX is managed by Paydenfunds. It was launched on Dec 30, 1997.
Performance
FLRN vs. PYHRX - Performance Comparison
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FLRN vs. PYHRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 0.77% | 5.01% | 6.32% | 6.54% | 1.31% | 0.39% | 0.77% | 4.02% | 1.39% | 1.81% |
PYHRX Payden High Income Fund | 0.06% | 8.73% | 8.13% | 14.73% | -9.76% | 6.62% | 7.38% | 16.75% | -2.85% | 6.54% |
Returns By Period
In the year-to-date period, FLRN achieves a 0.77% return, which is significantly higher than PYHRX's 0.06% return. Over the past 10 years, FLRN has underperformed PYHRX with an annualized return of 2.98%, while PYHRX has yielded a comparatively higher 6.16% annualized return.
FLRN
- 1D
- -0.07%
- 1M
- 0.09%
- YTD
- 0.77%
- 6M
- 1.91%
- 1Y
- 4.50%
- 3Y*
- 5.86%
- 5Y*
- 3.99%
- 10Y*
- 2.98%
PYHRX
- 1D
- 0.56%
- 1M
- -0.95%
- YTD
- 0.06%
- 6M
- 1.79%
- 1Y
- 7.93%
- 3Y*
- 9.23%
- 5Y*
- 5.02%
- 10Y*
- 6.16%
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FLRN vs. PYHRX - Expense Ratio Comparison
FLRN has a 0.15% expense ratio, which is lower than PYHRX's 0.60% expense ratio.
Return for Risk
FLRN vs. PYHRX — Risk / Return Rank
FLRN
PYHRX
FLRN vs. PYHRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and Payden High Income Fund (PYHRX). 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.
| FLRN | PYHRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.49 | 0.07 | +2.42 |
Sortino ratioReturn per unit of downside risk | 3.11 | 1.17 | +1.94 |
Omega ratioGain probability vs. loss probability | 2.05 | 1.93 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 3.21 | 0.16 | +3.05 |
Martin ratioReturn relative to average drawdown | 26.27 | 2.45 | +23.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLRN | PYHRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 0.07 | +2.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.38 | 0.10 | +2.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.17 | +0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.26 | +0.23 |
Correlation
The correlation between FLRN and PYHRX is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FLRN vs. PYHRX - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 4.65%, less than PYHRX's 6.55% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.65% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
PYHRX Payden High Income Fund | 6.55% | 6.81% | 7.20% | 6.67% | 6.05% | 4.79% | 4.99% | 5.23% | 5.88% | 5.27% | 5.24% | 5.49% |
Drawdowns
FLRN vs. PYHRX - Drawdown Comparison
The maximum FLRN drawdown since its inception was -14.64%, smaller than the maximum PYHRX drawdown of -50.79%. Use the drawdown chart below to compare losses from any high point for FLRN and PYHRX.
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Drawdown Indicators
| FLRN | PYHRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -50.79% | +36.15% |
Max Drawdown (1Y)Largest decline over 1 year | -1.43% | -50.27% | +48.84% |
Max Drawdown (5Y)Largest decline over 5 years | -2.16% | -50.79% | +48.63% |
Max Drawdown (10Y)Largest decline over 10 years | -14.64% | -50.79% | +36.15% |
Current DrawdownCurrent decline from peak | -0.07% | -1.18% | +1.11% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -2.13% | +0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 3.24% | -3.07% |
Volatility
FLRN vs. PYHRX - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) is 0.36%, while Payden High Income Fund (PYHRX) has a volatility of 1.43%. This indicates that FLRN experiences smaller price fluctuations and is considered to be less risky than PYHRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLRN | PYHRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 1.43% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 0.55% | 1.86% | -1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.82% | 113.65% | -111.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 51.05% | -49.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.21% | 36.28% | -32.07% |