FRA vs. SPY
Compare and contrast key facts about BlackRock Floating Rate Income Strategies Fund Inc (FRA) and State Street 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.
Performance
FRA vs. SPY - Performance Comparison
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FRA vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRA BlackRock Floating Rate Income Strategies Fund Inc | -3.38% | -3.75% | 21.56% | 25.46% | -10.59% | 17.81% | -2.38% | 20.82% | -8.27% | 0.76% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, FRA achieves a -3.38% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, FRA has underperformed SPY with an annualized return of 6.61%, while SPY has yielded a comparatively higher 13.98% annualized return.
FRA
- 1D
- 3.86%
- 1M
- -0.13%
- YTD
- -3.38%
- 6M
- -9.61%
- 1Y
- -3.81%
- 3Y*
- 10.06%
- 5Y*
- 6.51%
- 10Y*
- 6.61%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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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.
Return for Risk
FRA vs. SPY — Risk / Return Rank
FRA
SPY
FRA vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Income Strategies Fund Inc (FRA) and State Street 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.
| FRA | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.27 | 0.93 | -1.20 |
Sortino ratioReturn per unit of downside risk | -0.26 | 1.45 | -1.72 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.22 | -0.27 |
Calmar ratioReturn relative to maximum drawdown | -0.23 | 1.53 | -1.75 |
Martin ratioReturn relative to average drawdown | -0.55 | 7.30 | -7.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FRA | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.27 | 0.93 | -1.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.69 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.78 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.56 | -0.25 |
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.
Dividends
FRA vs. SPY - Dividend Comparison
FRA's dividend yield for the trailing twelve months is around 13.49%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRA BlackRock Floating Rate Income Strategies Fund Inc | 13.49% | 12.62% | 10.81% | 10.44% | 6.88% | 5.96% | 7.61% | 6.44% | 6.90% | 5.31% | 5.65% | 6.17% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
FRA vs. SPY - Drawdown Comparison
The maximum FRA drawdown since its inception was -51.43%, 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.
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Drawdown Indicators
| FRA | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.43% | -55.19% | +3.76% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -12.05% | -3.42% |
Max Drawdown (5Y)Largest decline over 5 years | -18.77% | -24.50% | +5.73% |
Max Drawdown (10Y)Largest decline over 10 years | -42.80% | -33.72% | -9.08% |
Current DrawdownCurrent decline from peak | -11.62% | -6.24% | -5.38% |
Average DrawdownAverage peak-to-trough decline | -7.19% | -9.09% | +1.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.44% | 2.52% | +3.92% |
Volatility
FRA vs. SPY - Volatility Comparison
BlackRock Floating Rate Income Strategies Fund Inc (FRA) has a higher volatility of 5.65% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that FRA's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRA | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.65% | 5.31% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 8.21% | 9.47% | -1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.30% | 19.05% | -4.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.78% | 17.06% | -4.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.49% | 17.92% | -2.43% |