FLRT vs. SHYD
FLRT (Pacific Global Senior Loan ETF) and SHYD (VanEck Short High Yield Muni ETF) are both exchange-traded funds - FLRT is a High Yield Bonds fund actively managed by Pacific Life, while SHYD is a Municipal Bonds fund tracking the Bloomberg Municipal High Yield Short Duration. FLRT is actively managed, while SHYD is passively managed. Over the past 10 years, FLRT returned 4.91%/yr vs 2.01%/yr for SHYD. At a 0.07 correlation, their price movements are largely independent. FLRT charges 0.69%/yr vs 0.35%/yr for SHYD.
Performance
FLRT vs. SHYD - Performance Comparison
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Returns By Period
In the year-to-date period, FLRT achieves a 1.88% return, which is significantly higher than SHYD's 1.32% return. Over the past 10 years, FLRT has outperformed SHYD with an annualized return of 4.91%, while SHYD has yielded a comparatively lower 2.01% annualized return.
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%
SHYD
- 1D
- 0.35%
- 1M
- 1.59%
- YTD
- 1.32%
- 6M
- 1.40%
- 1Y
- 4.94%
- 3Y*
- 4.61%
- 5Y*
- 0.93%
- 10Y*
- 2.01%
FLRT vs. SHYD - 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% |
SHYD VanEck Short High Yield Muni ETF | 1.32% | 5.58% | 4.85% | 2.39% | -9.11% | 4.04% | 1.56% | 7.55% | 3.26% | 4.89% |
Correlation
The correlation between FLRT and SHYD is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2015 | 0.07 |
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Return for Risk
FLRT vs. SHYD — Risk / Return Rank
FLRT
SHYD
FLRT vs. SHYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacific Global Senior Loan ETF (FLRT) and VanEck Short High Yield Muni ETF (SHYD). 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 | SHYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | +3.06 | ||
| Omega ratioGain probability vs. loss probability | 1.85 | 1.34 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 2.29 | +0.93 |
| Martin ratioReturn relative to average drawdown | 11.76 | 7.51 | +4.26 |
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Drawdowns
FLRT vs. SHYD - Drawdown Comparison
The maximum FLRT drawdown since its inception was -20.96%, smaller than the maximum SHYD drawdown of -31.22%. Use the drawdown chart below to compare losses from any high point for FLRT and SHYD.
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Drawdown Indicators
| FLRT | SHYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.96% | -31.22% | +10.26% |
Max Drawdown (1Y)Largest decline over 1 year | -1.78% | -2.17% | +0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -2.87% | -4.17% | +1.30% |
Max Drawdown (5Y)Largest decline over 5 years | -7.60% | -13.32% | +5.72% |
Max Drawdown (10Y)Largest decline over 10 years | -20.96% | -31.22% | +10.26% |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -1.41% | -3.02% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 0.66% | -0.17% |
Volatility
FLRT vs. SHYD - Volatility Comparison
The current volatility for Pacific Global Senior Loan ETF (FLRT) is 0.43%, while VanEck Short High Yield Muni ETF (SHYD) has a volatility of 0.76%. This indicates that FLRT experiences smaller price fluctuations and is considered to be less risky than SHYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLRT | SHYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 0.76% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 1.22% | 1.97% | -0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.60% | 2.96% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.30% | 5.38% | -3.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.12% | 9.70% | -3.58% |
FLRT vs. SHYD - Expense Ratio Comparison
FLRT has a 0.69% expense ratio, which is higher than SHYD's 0.35% expense ratio.
Dividends
FLRT vs. SHYD - Dividend Comparison
FLRT's dividend yield for the trailing twelve months is around 6.80%, more than SHYD's 3.49% 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% |
SHYD VanEck Short High Yield Muni ETF | 3.49% | 3.50% | 3.16% | 2.99% | 2.66% | 2.56% | 3.05% | 3.19% | 3.17% | 3.11% | 2.97% | 3.26% |
Frequently Asked Questions
FLRT and SHYD have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYD has higher volatility (0.76%) compared to FLRT (0.43%). In terms of maximum drawdown, FLRT dropped -20.96% vs SHYD's -31.22%.
On 10-year performance, FLRT leads with 4.91% vs 2.01% for SHYD. On fees, SHYD is cheaper at 0.35% per year. On volatility, FLRT has been the lower-risk option at 0.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FLRT has performed better with a 4.91% return vs 2.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYD is cheaper with a 0.35% expense ratio, compared with 0.69% for FLRT.
FLRT has the higher dividend yield at 6.80%, compared with 3.49% for SHYD.
FLRT is categorized as High Yield Bonds, while SHYD is Municipal Bonds. They also come from different issuers: Pacific Life and VanEck. Their fees differ too: 0.69% for FLRT and 0.35% for SHYD.
FLRT currently has the higher Sharpe Ratio (3.59 vs 1.68), 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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