FRA vs. BDJ
FRA (BlackRock Floating Rate Income Strategies Fund Inc) and BDJ (BlackRock Enhanced Equity Dividend Trust) are both mutual funds - FRA is a Bank Loan fund managed by BlackRock, while BDJ is a Derivative Income fund actively managed by BlackRock. Over the past 10 years, FRA returned 6.34%/yr vs 10.53%/yr for BDJ. Their 0.37 correlation means their historical movements had little consistent relationship. FRA charges 2.17%/yr vs 0.89%/yr for BDJ.
Performance
FRA vs. BDJ - Performance Comparison
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Returns By Period
In the year-to-date period, FRA achieves a -0.58% return, which is significantly lower than BDJ's 8.31% return. Over the past 10 years, FRA has underperformed BDJ with an annualized return of 6.34%, while BDJ has yielded a comparatively higher 10.53% annualized return.
FRA
- 1D
- 0.18%
- 1M
- 0.41%
- 6M
- -0.75%
- YTD
- -0.58%
- 1Y
- -6.80%
- 3Y*
- 7.37%
- 5Y*
- 6.05%
- 10Y*
- 6.34%
- ALL TIME*
- 5.13%
BDJ
- 1D
- 0.20%
- 1M
- 2.20%
- 6M
- 5.16%
- YTD
- 8.31%
- 1Y
- 23.61%
- 3Y*
- 16.03%
- 5Y*
- 9.08%
- 10Y*
- 10.53%
- ALL TIME*
- 6.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.26M | $4.34M | $4.85M | |
| $1.48M | $1.59M | $1.48M |
FRA vs. BDJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRA BlackRock Floating Rate Income Strategies Fund Inc | -0.58% | -3.75% | 21.56% | 25.46% | -10.59% | 17.81% | -2.38% | 20.82% | -8.27% | 0.76% |
BDJ BlackRock Enhanced Equity Dividend Trust | 8.31% | 26.12% | 16.87% | -6.67% | 0.83% | 26.56% | -7.58% | 37.43% | -10.42% | 20.78% |
Correlation
The correlation between FRA and BDJ is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.37 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2005 | 0.37 |
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Return for Risk
FRA vs. BDJ — Risk / Return Rank
FRA
BDJ
FRA vs. BDJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Income Strategies Fund Inc (FRA) and BlackRock Enhanced Equity Dividend Trust (BDJ). 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.
| FRA | BDJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.69 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.34 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | 1.93 | -2.37 |
| Martin ratioReturn relative to average drawdown | -0.81 | 7.08 | -7.88 |
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Drawdowns
FRA vs. BDJ - Drawdown Comparison
The maximum FRA drawdown since its inception was -51.43%, smaller than the maximum BDJ drawdown of -59.46%. Use the drawdown chart below to compare losses from any high point for FRA and BDJ.
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Drawdown Indicators
| FRA | BDJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.43% | -59.46% | +8.03% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -12.28% | -3.19% |
Max Drawdown (3Y)Largest decline over 3 years | -18.77% | -14.37% | -4.40% |
Max Drawdown (5Y)Largest decline over 5 years | -18.77% | -21.39% | +2.62% |
Max Drawdown (10Y)Largest decline over 10 years | -42.80% | -48.14% | +5.34% |
Current DrawdownCurrent decline from peak | -9.05% | 0.00% | -9.05% |
Average DrawdownAverage peak-to-trough decline | -7.23% | -8.89% | +1.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.46% | 3.34% | +5.12% |
Volatility
FRA vs. BDJ - Volatility Comparison
The current volatility for BlackRock Floating Rate Income Strategies Fund Inc (FRA) is 1.89%, while BlackRock Enhanced Equity Dividend Trust (BDJ) has a volatility of 3.07%. This indicates that FRA experiences smaller price fluctuations and is considered to be less risky than BDJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRA | BDJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 3.07% | -1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | 9.49% | -1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.07% | 12.17% | -2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 16.03% | -3.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.52% | 18.40% | -2.88% |
FRA vs. BDJ - Expense Ratio Comparison
FRA has a 2.17% expense ratio, which is higher than BDJ's 0.89% expense ratio.
Dividends
FRA vs. BDJ - Dividend Comparison
FRA's dividend yield for the trailing twelve months is around 13.71%, more than BDJ's 8.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDJ BlackRock Enhanced Equity Dividend Trust | 8.73% | 9.03% | 8.21% | 9.49% | 12.18% | 5.95% | 7.08% | 6.66% | 7.21% | 6.07% | 6.88% | 7.36% |
FRA BlackRock Floating Rate Income Strategies Fund Inc | 13.71% | 12.62% | 10.81% | 10.44% | 6.88% | 5.96% | 7.61% | 6.44% | 6.90% | 5.31% | 5.65% | 6.17% |
Frequently Asked Questions
FRA and BDJ have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BDJ has higher volatility (3.07%) compared to FRA (1.89%). In terms of maximum drawdown, FRA dropped -51.43% vs BDJ's -59.46%.
BDJ currently has the higher Sharpe Ratio (1.95 vs -0.68), 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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