FRA vs. JPM

Last updated Jun 23, 2026

FRA (BlackRock Floating Rate Income Strategies Fund Inc) is Bank Loan fund managed by BlackRock, while JPM (JPMorgan Chase & Co.) is a stock. Over the past 10 years, FRA returned 6.56%/yr vs 21.92%/yr for JPM. At a 0.25 correlation, their price movements are largely independent.

Performance

FRA vs. JPM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Floating Rate Income Strategies Fund Inc (FRA) and JPMorgan Chase & Co. (JPM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRA achieves a -1.62% return, which is significantly lower than JPM's 3.87% return. Over the past 10 years, FRA has underperformed JPM with an annualized return of 6.56%, while JPM has yielded a comparatively higher 21.92% annualized return.

FRA

• 1D: -0.18%
• 1M: -0.69%
• YTD: -1.62%
• 6M: -1.03%
• 1Y: -4.67%
• 3Y*: 8.63%
• 5Y*: 6.50%
• 10Y*: 6.56%

JPM

• 1D: 1.92%
• 1M: 8.19%
• YTD: 3.87%
• 6M: 3.59%
• 1Y: 22.88%
• 3Y*: 36.73%
• 5Y*: 20.01%
• 10Y*: 21.92%

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

FRA vs. JPM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRA BlackRock Floating Rate Income Strategies Fund Inc	-1.62%	-3.75%	21.56%	25.46%	-10.59%	17.81%	-2.38%	20.82%	-8.27%	0.76%
JPM JPMorgan Chase & Co.	3.87%	37.27%	44.29%	30.63%	-12.64%	27.75%	-5.53%	47.26%	-6.62%	26.76%

Correlation

The correlation between FRA and JPM is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Oct 29, 2003	0.25

Return for Risk

FRA vs. JPM — Risk / Return Rank

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

FRA

FRA Risk / Return Rank: 1
FRA Sharpe Ratio Rank: 1
FRA Sortino Ratio Rank: 1
FRA Omega Ratio Rank: 1
FRA Calmar Ratio Rank: 1
FRA Martin Ratio Rank: 1

JPM

JPM Risk / Return Rank: 69
JPM Sharpe Ratio Rank: 73
JPM Sortino Ratio Rank: 66
JPM Omega Ratio Rank: 66
JPM Calmar Ratio Rank: 69
JPM Martin Ratio Rank: 70

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.

FRA vs. JPM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Income Strategies Fund Inc (FRA) and JPMorgan Chase & Co. (JPM). 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	JPM	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	1.04	-1.51
Sortino ratio: Return per unit of downside risk	-0.61	1.48	-2.09
Omega ratio: Gain probability vs. loss probability	0.93	1.19	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.30	1.49	-1.79
Martin ratio: Return relative to average drawdown	-0.60	3.50	-4.10

FRA vs. JPM - Sharpe Ratio Comparison

The current FRA Sharpe Ratio is -0.47, which is lower than the JPM Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of FRA and JPM, 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

FRA vs. JPM - Drawdown Comparison

The maximum FRA drawdown since its inception was -51.43%, smaller than the maximum JPM drawdown of -76.16%. Use the drawdown chart below to compare losses from any high point for FRA and JPM.

Drawdown Indicators

	FRA	JPM	Difference
Max Drawdown Largest peak-to-trough decline	-51.43%	-76.16%	+24.73%
Max Drawdown (1Y) Largest decline over 1 year	-15.47%	-15.47%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-24.42%	+5.65%
Max Drawdown (5Y) Largest decline over 5 years	-18.77%	-38.77%	+20.00%
Max Drawdown (10Y) Largest decline over 10 years	-42.80%	-43.63%	+0.83%
Current Drawdown Current decline from peak	-10.00%	-0.59%	-9.41%
Average Drawdown Average peak-to-trough decline	-7.22%	-17.61%	+10.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.80%	6.55%	+1.25%

Volatility

FRA vs. JPM - Volatility Comparison

The current volatility for BlackRock Floating Rate Income Strategies Fund Inc (FRA) is 2.22%, while JPMorgan Chase & Co. (JPM) has a volatility of 7.33%. This indicates that FRA experiences smaller price fluctuations and is considered to be less risky than JPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRA	JPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.22%	7.33%	-5.11%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	17.13%	-8.97%
Volatility (1Y) Calculated over the trailing 1-year period	9.97%	22.15%	-12.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.90%	24.47%	-11.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.53%	27.44%	-11.91%

Dividends

FRA vs. JPM - Dividend Comparison

FRA's dividend yield for the trailing twelve months is around 13.70%, more than JPM's 1.78% 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%
JPM JPMorgan Chase & Co.	1.78%	1.72%	1.92%	2.38%	2.98%	2.34%	2.83%	2.37%	2.54%	1.91%	2.13%	2.54%

Frequently Asked Questions

Can I hold both FRA and JPM in my portfolio?

FRA and JPM have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRA or JPM?

JPM has higher volatility (7.33%) compared to FRA (2.22%). In terms of maximum drawdown, FRA dropped -51.43% vs JPM's -76.16%.

Which has better risk-adjusted returns?

JPM currently has the higher Sharpe Ratio (1.04 vs -0.47), 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.