FRA vs. SPY
Compare and contrast key facts about BlackRock Floating Rate Income Strategies Fund Inc (FRA) and SPDR S&P 500 ETF (SPY).
FRA is managed by Blackrock. It was launched on Oct 29, 2003. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FRA or SPY.
Key characteristics
| FRA | SPY | |
|---|---|---|
| YTD Return | 21.88% | 26.77% |
| 1Y Return | 30.27% | 37.43% |
| 3Y Return (Ann) | 10.88% | 10.15% |
| 5Y Return (Ann) | 10.81% | 15.86% |
| 10Y Return (Ann) | 7.74% | 13.33% |
| Sharpe Ratio | 2.84 | 3.06 |
| Sortino Ratio | 3.58 | 4.08 |
| Omega Ratio | 1.55 | 1.58 |
| Calmar Ratio | 4.26 | 4.44 |
| Martin Ratio | 18.64 | 20.11 |
| Ulcer Index | 1.66% | 1.85% |
| Daily Std Dev | 10.92% | 12.18% |
| Max Drawdown | -51.60% | -55.19% |
| Current Drawdown | -1.20% | -0.31% |
Correlation
The correlation between FRA and SPY is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
FRA vs. SPY - Performance Comparison
In the year-to-date period, FRA achieves a 21.88% return, which is significantly lower than SPY's 26.77% return. Over the past 10 years, FRA has underperformed SPY with an annualized return of 7.74%, while SPY has yielded a comparatively higher 13.33% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FRA vs. SPY - Expense Ratio Comparison
FRA has a 2.17% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
FRA vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Income Strategies Fund Inc (FRA) and SPDR S&P 500 ETF (SPY). 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.
Dividends
FRA vs. SPY - Dividend Comparison
FRA's dividend yield for the trailing twelve months is around 10.56%, more than SPY's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRA BlackRock Floating Rate Income Strategies Fund Inc | 9.72% | 10.44% | 6.89% | 5.99% | 7.63% | 6.48% | 6.92% | 5.31% | 5.65% | 6.15% | 6.23% | 6.37% |
SPY SPDR S&P 500 ETF | 1.17% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
FRA vs. SPY - Drawdown Comparison
The maximum FRA drawdown since its inception was -51.60%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FRA and SPY. For additional features, visit the drawdowns tool.
Volatility
FRA vs. SPY - Volatility Comparison
The current volatility for BlackRock Floating Rate Income Strategies Fund Inc (FRA) is 3.32%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.88%. This indicates that FRA experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.