FRA vs. WFSPX
FRA (BlackRock Floating Rate Income Strategies Fund Inc) and WFSPX (iShares S&P 500 Index Fund Class K) are both mutual funds - FRA is a Bank Loan fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, FRA returned 6.60%/yr vs 15.68%/yr for WFSPX. At a 0.33 correlation, their price movements are largely independent. FRA charges 2.17%/yr vs 0.03%/yr for WFSPX.
Performance
FRA vs. WFSPX - Performance Comparison
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Returns By Period
In the year-to-date period, FRA achieves a -1.25% return, which is significantly lower than WFSPX's 9.77% return. Over the past 10 years, FRA has underperformed WFSPX with an annualized return of 6.60%, while WFSPX has yielded a comparatively higher 15.68% annualized return.
FRA
- 1D
- 0.37%
- 1M
- -0.32%
- YTD
- -1.25%
- 6M
- -0.58%
- 1Y
- -4.46%
- 3Y*
- 8.76%
- 5Y*
- 6.55%
- 10Y*
- 6.60%
WFSPX
- 1D
- -0.36%
- 1M
- 0.10%
- YTD
- 9.77%
- 6M
- 8.77%
- 1Y
- 25.45%
- 3Y*
- 21.35%
- 5Y*
- 13.57%
- 10Y*
- 15.68%
FRA vs. WFSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRA BlackRock Floating Rate Income Strategies Fund Inc | -1.25% | -3.75% | 21.56% | 25.46% | -10.59% | 17.81% | -2.38% | 20.82% | -8.27% | 0.76% |
WFSPX iShares S&P 500 Index Fund Class K | 9.77% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
Correlation
The correlation between FRA and WFSPX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2003 | 0.33 |
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Return for Risk
FRA vs. WFSPX — Risk / Return Rank
FRA
WFSPX
FRA vs. WFSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Floating Rate Income Strategies Fund Inc (FRA) and iShares S&P 500 Index Fund Class K (WFSPX). 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 | WFSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -3.49 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.39 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 3.01 | -3.30 |
| Martin ratioReturn relative to average drawdown | -0.57 | 13.58 | -14.15 |
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Drawdowns
FRA vs. WFSPX - Drawdown Comparison
The maximum FRA drawdown since its inception was -51.43%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for FRA and WFSPX.
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Drawdown Indicators
| FRA | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.43% | -58.21% | +6.78% |
Max Drawdown (1Y)Largest decline over 1 year | -15.47% | -8.90% | -6.57% |
Max Drawdown (3Y)Largest decline over 3 years | -18.77% | -18.74% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -18.77% | -24.51% | +5.74% |
Max Drawdown (10Y)Largest decline over 10 years | -42.80% | -33.74% | -9.06% |
Current DrawdownCurrent decline from peak | -9.67% | -1.72% | -7.95% |
Average DrawdownAverage peak-to-trough decline | -7.22% | -12.76% | +5.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.83% | 1.97% | +5.86% |
Volatility
FRA vs. WFSPX - Volatility Comparison
The current volatility for BlackRock Floating Rate Income Strategies Fund Inc (FRA) is 2.22%, while iShares S&P 500 Index Fund Class K (WFSPX) has a volatility of 4.67%. This indicates that FRA experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRA | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.22% | 4.67% | -2.45% |
Volatility (6M)Calculated over the trailing 6-month period | 8.17% | 9.83% | -1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.96% | 12.49% | -2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.90% | 16.97% | -4.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.53% | 18.07% | -2.54% |
FRA vs. WFSPX - Expense Ratio Comparison
FRA has a 2.17% expense ratio, which is higher than WFSPX's 0.03% expense ratio.
Dividends
FRA vs. WFSPX - Dividend Comparison
FRA's dividend yield for the trailing twelve months is around 13.65%, more than WFSPX's 1.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRA BlackRock Floating Rate Income Strategies Fund Inc | 13.65% | 12.62% | 10.81% | 10.44% | 6.88% | 5.96% | 7.61% | 6.44% | 6.90% | 5.31% | 5.65% | 6.17% |
WFSPX iShares S&P 500 Index Fund Class K | 1.59% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Frequently Asked Questions
FRA and WFSPX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WFSPX has higher volatility (4.67%) compared to FRA (2.22%). In terms of maximum drawdown, FRA dropped -51.43% vs WFSPX's -58.21%.
WFSPX currently has the higher Sharpe Ratio (2.15 vs -0.45), 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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