FLRT vs. HYSZX

Last updated Jun 23, 2026

FLRT (Pacific Global Senior Loan ETF) and HYSZX (PGIM Short Duration High Yield Income Fund) are both High Yield Bonds funds. Over the past 10 years, FLRT returned 4.91%/yr vs 4.88%/yr for HYSZX. At a 0.25 correlation, their price movements are largely independent. FLRT charges 0.69%/yr vs 0.75%/yr for HYSZX.

Performance

FLRT vs. HYSZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacific Global Senior Loan ETF (FLRT) and PGIM Short Duration High Yield Income Fund (HYSZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLRT achieves a 1.88% return, which is significantly higher than HYSZX's 1.37% return. Both investments have delivered pretty close results over the past 10 years, with FLRT having a 4.91% annualized return and HYSZX not far behind at 4.88%.

FLRT

• 1D: -0.04%
• 1M: 0.24%
• YTD: 1.88%
• 6M: 1.93%
• 1Y: 5.70%
• 3Y*: 8.56%
• 5Y*: 5.97%
• 10Y*: 4.91%

HYSZX

• 1D: 0.00%
• 1M: 0.66%
• YTD: 1.37%
• 6M: 2.02%
• 1Y: 5.54%
• 3Y*: 7.21%
• 5Y*: 4.05%
• 10Y*: 4.88%

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

FLRT vs. HYSZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLRT Pacific Global Senior Loan ETF	1.88%	6.24%	9.18%	14.59%	-2.72%	3.18%	2.78%	9.44%	-1.14%	1.72%
HYSZX PGIM Short Duration High Yield Income Fund	1.37%	7.84%	6.49%	9.57%	-6.46%	5.48%	4.19%	11.78%	1.20%	4.80%

Correlation

The correlation between FLRT and HYSZX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Feb 19, 2015	0.25

The correlation between FLRT and HYSZX shifts across timeframes, from 0.25 (all time) to 0.35 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FLRT vs. HYSZX — Risk / Return Rank

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

FLRT

FLRT Risk / Return Rank: 84
FLRT Sharpe Ratio Rank: 95
FLRT Sortino Ratio Rank: 96
FLRT Omega Ratio Rank: 97
FLRT Calmar Ratio Rank: 66
FLRT Martin Ratio Rank: 66

HYSZX

HYSZX Risk / Return Rank: 68
HYSZX Sharpe Ratio Rank: 50
HYSZX Sortino Ratio Rank: 81
HYSZX Omega Ratio Rank: 77
HYSZX Calmar Ratio Rank: 57
HYSZX Martin Ratio Rank: 74

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.

FLRT vs. HYSZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacific Global Senior Loan ETF (FLRT) and PGIM Short Duration High Yield Income Fund (HYSZX). 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.

	FLRT	HYSZX	Difference
Sharpe ratio: Return per unit of total volatility	3.59	1.94	+1.66
Sortino ratio: Return per unit of downside risk	5.55	3.51	+2.04
Omega ratio: Gain probability vs. loss probability	1.85	1.46	+0.39
Calmar ratio: Return relative to maximum drawdown	3.22	2.76	+0.46
Martin ratio: Return relative to average drawdown	11.76	13.20	-1.43

FLRT vs. HYSZX - Sharpe Ratio Comparison

The current FLRT Sharpe Ratio is 3.59, which is higher than the HYSZX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of FLRT and HYSZX, 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

FLRT vs. HYSZX - Drawdown Comparison

The maximum FLRT drawdown since its inception was -20.96%, which is greater than HYSZX's maximum drawdown of -18.31%. Use the drawdown chart below to compare losses from any high point for FLRT and HYSZX.

Drawdown Indicators

	FLRT	HYSZX	Difference
Max Drawdown Largest peak-to-trough decline	-20.96%	-18.31%	-2.65%
Max Drawdown (1Y) Largest decline over 1 year	-1.78%	-2.01%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-2.87%	-2.82%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-7.60%	-9.77%	+2.17%
Max Drawdown (10Y) Largest decline over 10 years	-20.96%	-18.31%	-2.65%
Current Drawdown Current decline from peak	-0.11%	-0.24%	+0.13%
Average Drawdown Average peak-to-trough decline	-1.41%	-1.18%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	0.42%	+0.07%

Volatility

FLRT vs. HYSZX - Volatility Comparison

The current volatility for Pacific Global Senior Loan ETF (FLRT) is 0.43%, while PGIM Short Duration High Yield Income Fund (HYSZX) has a volatility of 0.89%. This indicates that FLRT experiences smaller price fluctuations and is considered to be less risky than HYSZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLRT	HYSZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.43%	0.89%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	1.22%	2.24%	-1.02%
Volatility (1Y) Calculated over the trailing 1-year period	1.60%	2.87%	-1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.30%	3.88%	-1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.12%	4.23%	+1.89%

FLRT vs. HYSZX - Expense Ratio Comparison

FLRT has a 0.69% expense ratio, which is lower than HYSZX's 0.75% expense ratio.

Dividends

FLRT vs. HYSZX - Dividend Comparison

FLRT's dividend yield for the trailing twelve months is around 6.80%, more than HYSZX's 6.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLRT Pacific Global Senior Loan ETF	6.80%	6.93%	7.93%	8.40%	5.81%	3.16%	3.52%	4.30%	3.95%	3.20%	3.38%	3.21%
HYSZX PGIM Short Duration High Yield Income Fund	6.39%	6.45%	6.27%	4.84%	5.01%	4.56%	5.00%	5.60%	5.94%	5.73%	6.33%	6.76%

Frequently Asked Questions

Can I hold both FLRT and HYSZX in my portfolio?

FLRT and HYSZX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLRT or HYSZX?

HYSZX has higher volatility (0.89%) compared to FLRT (0.43%). In terms of maximum drawdown, FLRT dropped -20.96% vs HYSZX's -18.31%.

Which has better risk-adjusted returns?

FLRT currently has the higher Sharpe Ratio (3.59 vs 1.94), 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.