FRA vs. PFL
FRA (BlackRock Floating Rate Income Strategies Fund Inc) and PFL (PIMCO Income Strategy Fund) are both mutual funds - FRA is a Bank Loan fund managed by BlackRock, while PFL is a Multisector Bonds fund actively managed by PIMCO. Over the past 10 years, FRA returned 6.34%/yr vs 7.57%/yr for PFL. Their 0.32 correlation means their historical movements had little consistent relationship.
Performance
FRA vs. PFL - Performance Comparison
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Returns By Period
In the year-to-date period, FRA achieves a -0.58% return, which is significantly higher than PFL's -1.48% return. Over the past 10 years, FRA has underperformed PFL with an annualized return of 6.34%, while PFL has yielded a comparatively higher 7.57% 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%
PFL
- 1D
- 0.26%
- 1M
- -0.37%
- 6M
- -2.43%
- YTD
- -1.48%
- 1Y
- 2.99%
- 3Y*
- 10.08%
- 5Y*
- 1.01%
- 10Y*
- 7.57%
- ALL TIME*
- 6.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.48M | $1.59M | $1.48M | |
| $1.18M | $2.39M | $1.79M |
FRA vs. PFL - 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% |
PFL PIMCO Income Strategy Fund | -1.48% | 13.03% | 11.51% | 17.29% | -17.92% | 4.62% | 7.11% | 19.65% | 2.06% | 21.26% |
Correlation
The correlation between FRA and PFL is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.32 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2003 | 0.32 |
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Return for Risk
FRA vs. PFL — Risk / Return Rank
FRA
PFL
FRA vs. PFL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Income Strategies Fund Inc (FRA) and PIMCO Income Strategy Fund (PFL). 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 | PFL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.07 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | 0.39 | -0.83 |
| Martin ratioReturn relative to average drawdown | -0.81 | 1.04 | -1.85 |
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Drawdowns
FRA vs. PFL - Drawdown Comparison
The maximum FRA drawdown since its inception was -51.43%, smaller than the maximum PFL drawdown of -77.97%. Use the drawdown chart below to compare losses from any high point for FRA and PFL.
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Drawdown Indicators
| FRA | PFL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.43% | -77.97% | +26.54% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -7.64% | -7.83% |
Max Drawdown (3Y)Largest decline over 3 years | -18.77% | -12.89% | -5.88% |
Max Drawdown (5Y)Largest decline over 5 years | -18.77% | -33.30% | +14.53% |
Max Drawdown (10Y)Largest decline over 10 years | -42.80% | -48.40% | +5.60% |
Current DrawdownCurrent decline from peak | -9.05% | -3.36% | -5.69% |
Average DrawdownAverage peak-to-trough decline | -7.23% | -10.95% | +3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.46% | 2.87% | +5.59% |
Volatility
FRA vs. PFL - Volatility Comparison
The current volatility for BlackRock Floating Rate Income Strategies Fund Inc (FRA) is 1.89%, while PIMCO Income Strategy Fund (PFL) has a volatility of 2.21%. This indicates that FRA experiences smaller price fluctuations and is considered to be less risky than PFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRA | PFL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 2.21% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | 8.45% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.07% | 9.53% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 13.59% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.52% | 18.32% | -2.80% |
Dividends
FRA vs. PFL - Dividend Comparison
FRA's dividend yield for the trailing twelve months is around 13.71%, more than PFL's 12.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PFL PIMCO Income Strategy Fund | 12.61% | 11.59% | 11.66% | 11.57% | 12.04% | 9.53% | 9.44% | 9.11% | 9.94% | 9.25% | 10.22% | 11.09% |
Frequently Asked Questions
FRA and PFL have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFL has higher volatility (2.21%) compared to FRA (1.89%). In terms of maximum drawdown, FRA dropped -51.43% vs PFL's -77.97%.
PFL currently has the higher Sharpe Ratio (0.32 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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