FRA vs. HYSA
FRA (BlackRock Floating Rate Income Strategies Fund Inc) and HYSA (Bondbloxx USD High Yield Bond Sector Rotation ETF) are both funds - FRA is a Bank Loan fund managed by BlackRock, while HYSA is a High Yield Bonds fund actively managed by BondBloxx. Over the past year, FRA returned -7.12% vs 5.00% for HYSA. At a 0.29 correlation, their price movements are largely independent. FRA charges 2.17%/yr vs 0.55%/yr for HYSA.
Performance
FRA vs. HYSA - Performance Comparison
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Returns By Period
In the year-to-date period, FRA achieves a -1.62% return, which is significantly lower than HYSA's 1.34% return.
FRA
- 1D
- -0.18%
- 1M
- -0.15%
- 6M
- -4.38%
- YTD
- -1.62%
- 1Y
- -7.12%
- 3Y*
- 7.63%
- 5Y*
- 5.93%
- 10Y*
- 6.39%
HYSA
- 1D
- 0.03%
- 1M
- -0.09%
- 6M
- 0.48%
- YTD
- 1.34%
- 1Y
- 5.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FRA vs. HYSA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FRA BlackRock Floating Rate Income Strategies Fund Inc | -1.62% | -3.75% | 21.56% | 4.78% |
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF | 1.34% | 8.37% | 6.71% | 5.95% |
Correlation
The correlation between FRA and HYSA is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2023 | 0.29 |
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Return for Risk
FRA vs. HYSA — Risk / Return Rank
FRA
HYSA
FRA vs. HYSA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Income Strategies Fund Inc (FRA) and Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA). 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 | HYSA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.53 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.18 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 1.59 | -2.05 |
| Martin ratioReturn relative to average drawdown | -0.88 | 6.36 | -7.24 |
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Drawdowns
FRA vs. HYSA - Drawdown Comparison
The maximum FRA drawdown since its inception was -51.43%, which is greater than HYSA's maximum drawdown of -4.90%. Use the drawdown chart below to compare losses from any high point for FRA and HYSA.
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Drawdown Indicators
| FRA | HYSA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.43% | -4.90% | -46.53% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -3.15% | -12.32% |
Max Drawdown (3Y)Largest decline over 3 years | -18.77% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.77% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.80% | — | — |
Current DrawdownCurrent decline from peak | -10.00% | -0.52% | -9.48% |
Average DrawdownAverage peak-to-trough decline | -7.22% | -0.67% | -6.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.13% | 0.79% | +7.34% |
Volatility
FRA vs. HYSA - Volatility Comparison
BlackRock Floating Rate Income Strategies Fund Inc (FRA) has a higher volatility of 2.12% compared to Bondbloxx USD High Yield Bond Sector Rotation ETF (HYSA) at 1.23%. This indicates that FRA's price experiences larger fluctuations and is considered to be riskier than HYSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRA | HYSA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 1.23% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 8.06% | 3.64% | +4.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.00% | 4.78% | +5.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.90% | 6.01% | +6.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.52% | 6.01% | +9.51% |
FRA vs. HYSA - Expense Ratio Comparison
FRA has a 2.17% expense ratio, which is higher than HYSA's 0.55% expense ratio.
Dividends
FRA vs. HYSA - Dividend Comparison
FRA's dividend yield for the trailing twelve months is around 13.70%, more than HYSA's 6.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRA BlackRock Floating Rate Income Strategies Fund Inc | 13.70% | 12.62% | 10.81% | 10.44% | 6.88% | 5.96% | 7.61% | 6.44% | 6.90% | 5.31% | 5.65% | 6.17% |
HYSA Bondbloxx USD High Yield Bond Sector Rotation ETF | 6.73% | 6.70% | 6.99% | 2.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FRA and HYSA have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRA has higher volatility (2.12%) compared to HYSA (1.23%). In terms of maximum drawdown, FRA dropped -51.43% vs HYSA's -4.90%.
HYSA currently has the higher Sharpe Ratio (1.05 vs -0.72), 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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