FTSL vs. FFRHX
FTSL (First Trust Senior Loan Fund) and FFRHX (Fidelity Floating Rate High Income Fund) are both funds - FTSL is a High Yield Bonds fund actively managed by First Trust, while FFRHX is a Bank Loan fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, FTSL returned 4.44%/yr vs 4.90%/yr for FFRHX. At a 0.33 correlation, their price movements are largely independent. FTSL charges 0.86%/yr vs 0.67%/yr for FFRHX.
Performance
FTSL vs. FFRHX - Performance Comparison
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Returns By Period
In the year-to-date period, FTSL achieves a 0.51% return, which is significantly lower than FFRHX's 1.60% return. Over the past 10 years, FTSL has underperformed FFRHX with an annualized return of 4.44%, while FFRHX has yielded a comparatively higher 4.90% annualized return.
FTSL
- 1D
- -0.04%
- 1M
- -0.10%
- YTD
- 0.51%
- 6M
- 0.66%
- 1Y
- 4.27%
- 3Y*
- 7.06%
- 5Y*
- 4.95%
- 10Y*
- 4.44%
FFRHX
- 1D
- -0.11%
- 1M
- -0.00%
- YTD
- 1.60%
- 6M
- 1.98%
- 1Y
- 5.89%
- 3Y*
- 7.24%
- 5Y*
- 5.35%
- 10Y*
- 4.90%
FTSL vs. FFRHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTSL First Trust Senior Loan Fund | 0.51% | 5.98% | 8.27% | 11.58% | -2.50% | 3.94% | 2.99% | 10.11% | -1.30% | 2.59% |
FFRHX Fidelity Floating Rate High Income Fund | 1.60% | 5.47% | 7.10% | 12.63% | -1.55% | 5.01% | 1.69% | 8.63% | 0.10% | 3.91% |
Correlation
The correlation between FTSL and FFRHX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since May 2, 2013 | 0.33 |
The correlation between FTSL and FFRHX shifts across timeframes, from 0.24 (1 year) to 0.36 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FTSL vs. FFRHX — Risk / Return Rank
FTSL
FFRHX
FTSL vs. FFRHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Senior Loan Fund (FTSL) and Fidelity Floating Rate High Income Fund (FFRHX). 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.
| FTSL | FFRHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -2.65 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.86 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 4.87 | -3.01 |
| Martin ratioReturn relative to average drawdown | 6.88 | 17.02 | -10.14 |
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Drawdowns
FTSL vs. FFRHX - Drawdown Comparison
The maximum FTSL drawdown since its inception was -22.67%, roughly equal to the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for FTSL and FFRHX.
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Drawdown Indicators
| FTSL | FFRHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.67% | -22.20% | -0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.33% | -1.19% | -1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -2.66% | -3.29% | +0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -6.96% | -5.90% | -1.06% |
Max Drawdown (10Y)Largest decline over 10 years | -22.67% | -22.20% | -0.47% |
Current DrawdownCurrent decline from peak | -0.14% | -0.55% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -0.76% | -1.15% | +0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 0.34% | +0.29% |
Volatility
FTSL vs. FFRHX - Volatility Comparison
The current volatility for First Trust Senior Loan Fund (FTSL) is 0.36%, while Fidelity Floating Rate High Income Fund (FFRHX) has a volatility of 0.64%. This indicates that FTSL experiences smaller price fluctuations and is considered to be less risky than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTSL | FFRHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 0.64% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 1.95% | 1.63% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.11% | 2.37% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.35% | 2.88% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.18% | 4.14% | +1.04% |
FTSL vs. FFRHX - Expense Ratio Comparison
FTSL has a 0.86% expense ratio, which is higher than FFRHX's 0.67% expense ratio.
Dividends
FTSL vs. FFRHX - Dividend Comparison
FTSL's dividend yield for the trailing twelve months is around 6.47%, less than FFRHX's 7.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 7.10% | 7.41% | 6.94% | 8.24% | 3.81% | 2.74% | 3.84% | 5.15% | 4.74% | 4.05% | 4.44% | 3.69% |
FTSL First Trust Senior Loan Fund | 6.47% | 6.59% | 7.56% | 7.59% | 4.77% | 3.17% | 3.48% | 4.44% | 4.29% | 3.64% | 3.70% | 3.95% |
Frequently Asked Questions
FTSL and FFRHX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FFRHX has higher volatility (0.64%) compared to FTSL (0.36%). In terms of maximum drawdown, FTSL dropped -22.67% vs FFRHX's -22.20%.
FFRHX currently has the higher Sharpe Ratio (2.45 vs 2.04), 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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