FRFZX vs. SPY
Compare and contrast key facts about PGIM Floating Rate Income Fund (FRFZX) and State Street SPDR S&P 500 ETF (SPY).
FRFZX is managed by PGIM. It was launched on Mar 29, 2011. 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
FRFZX vs. SPY - Performance Comparison
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FRFZX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRFZX PGIM Floating Rate Income Fund | -0.61% | 5.66% | 9.45% | 14.11% | -3.56% | 5.46% | 4.62% | 7.47% | -0.13% | 4.48% |
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, FRFZX achieves a -0.61% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, FRFZX has underperformed SPY with an annualized return of 5.30%, while SPY has yielded a comparatively higher 13.98% annualized return.
FRFZX
- 1D
- -0.11%
- 1M
- -0.34%
- YTD
- -0.61%
- 6M
- 0.74%
- 1Y
- 4.85%
- 3Y*
- 8.27%
- 5Y*
- 5.44%
- 10Y*
- 5.30%
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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FRFZX vs. SPY - Expense Ratio Comparison
FRFZX has a 0.70% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
FRFZX vs. SPY — Risk / Return Rank
FRFZX
SPY
FRFZX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Floating Rate Income Fund (FRFZX) 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.
| FRFZX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.95 | 0.93 | +1.02 |
Sortino ratioReturn per unit of downside risk | 3.26 | 1.45 | +1.80 |
Omega ratioGain probability vs. loss probability | 1.62 | 1.22 | +0.40 |
Calmar ratioReturn relative to maximum drawdown | 2.21 | 1.53 | +0.68 |
Martin ratioReturn relative to average drawdown | 9.23 | 7.30 | +1.94 |
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
| FRFZX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.95 | 0.93 | +1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.78 | 0.69 | +1.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.34 | 0.78 | +0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.36 | 0.56 | +0.80 |
Correlation
The correlation between FRFZX and SPY is 0.22, 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
FRFZX vs. SPY - Dividend Comparison
FRFZX's dividend yield for the trailing twelve months is around 7.00%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRFZX PGIM Floating Rate Income Fund | 7.00% | 7.65% | 8.76% | 8.87% | 6.41% | 3.33% | 5.35% | 5.42% | 5.06% | 4.90% | 4.34% | 3.97% |
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
FRFZX vs. SPY - Drawdown Comparison
The maximum FRFZX drawdown since its inception was -21.95%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FRFZX and SPY.
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Drawdown Indicators
| FRFZX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.95% | -55.19% | +33.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -12.05% | +9.82% |
Max Drawdown (5Y)Largest decline over 5 years | -7.85% | -24.50% | +16.65% |
Max Drawdown (10Y)Largest decline over 10 years | -21.95% | -33.72% | +11.77% |
Current DrawdownCurrent decline from peak | -0.85% | -6.24% | +5.39% |
Average DrawdownAverage peak-to-trough decline | -0.93% | -9.09% | +8.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 2.52% | -1.96% |
Volatility
FRFZX vs. SPY - Volatility Comparison
The current volatility for PGIM Floating Rate Income Fund (FRFZX) is 0.60%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that FRFZX 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.
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Volatility by Period
| FRFZX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.60% | 5.31% | -4.71% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 9.47% | -7.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.72% | 19.05% | -16.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.07% | 17.06% | -13.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.96% | 17.92% | -13.96% |