HFHIX vs. AFRAX
HFHIX (Hartford Floating Rate High Income Fund) and AFRAX (Invesco Floating Rate ESG Fund) are both Bank Loan funds. Over the past 10 years, HFHIX returned 4.58%/yr vs 4.48%/yr for AFRAX. A 0.62 correlation means they provide meaningful diversification when combined. HFHIX charges 0.80%/yr vs 1.04%/yr for AFRAX.
Performance
HFHIX vs. AFRAX - Performance Comparison
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Returns By Period
In the year-to-date period, HFHIX achieves a 0.63% return, which is significantly higher than AFRAX's 0.26% return. Both investments have delivered pretty close results over the past 10 years, with HFHIX having a 4.58% annualized return and AFRAX not far behind at 4.48%.
HFHIX
- 1D
- 0.00%
- 1M
- 0.37%
- YTD
- 0.63%
- 6M
- 1.19%
- 1Y
- 5.16%
- 3Y*
- 6.67%
- 5Y*
- 4.07%
- 10Y*
- 4.58%
AFRAX
- 1D
- 0.00%
- 1M
- 0.62%
- YTD
- 0.26%
- 6M
- 0.75%
- 1Y
- 3.59%
- 3Y*
- 5.65%
- 5Y*
- 4.32%
- 10Y*
- 4.48%
HFHIX vs. AFRAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HFHIX Hartford Floating Rate High Income Fund | 0.63% | 7.69% | 6.61% | 9.35% | -4.54% | 4.21% | 1.04% | 9.28% | -0.31% | 5.62% |
AFRAX Invesco Floating Rate ESG Fund | 0.26% | 4.57% | 6.80% | 10.86% | -2.26% | 6.24% | 1.53% | 7.25% | -0.19% | 3.99% |
Correlation
The correlation between HFHIX and AFRAX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2011 | 0.62 |
Over the past year, the correlation between HFHIX and AFRAX has dropped to 0.32 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
HFHIX vs. AFRAX — Risk / Return Rank
HFHIX
AFRAX
HFHIX vs. AFRAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hartford Floating Rate High Income Fund (HFHIX) and Invesco Floating Rate ESG Fund (AFRAX). 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.
| HFHIX | AFRAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.74 | 1.44 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 2.57 | +0.24 |
| Martin ratioReturn relative to average drawdown | 10.14 | 7.43 | +2.70 |
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Drawdowns
HFHIX vs. AFRAX - Drawdown Comparison
The maximum HFHIX drawdown since its inception was -23.31%, smaller than the maximum AFRAX drawdown of -37.60%. Use the drawdown chart below to compare losses from any high point for HFHIX and AFRAX.
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Drawdown Indicators
| HFHIX | AFRAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.31% | -37.60% | +14.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.85% | -1.41% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -2.14% | -2.62% | +0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -8.21% | -6.29% | -1.92% |
Max Drawdown (10Y)Largest decline over 10 years | -23.31% | -18.91% | -4.40% |
Current DrawdownCurrent decline from peak | -0.34% | -0.17% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -1.33% | -4.38% | +3.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.49% | +0.02% |
Volatility
HFHIX vs. AFRAX - Volatility Comparison
The current volatility for Hartford Floating Rate High Income Fund (HFHIX) is 0.74%, while Invesco Floating Rate ESG Fund (AFRAX) has a volatility of 1.00%. This indicates that HFHIX experiences smaller price fluctuations and is considered to be less risky than AFRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HFHIX | AFRAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 1.00% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.02% | 2.00% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.51% | 2.78% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.94% | 3.22% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.18% | 3.74% | +0.44% |
HFHIX vs. AFRAX - Expense Ratio Comparison
HFHIX has a 0.80% expense ratio, which is lower than AFRAX's 1.04% expense ratio.
Dividends
HFHIX vs. AFRAX - Dividend Comparison
HFHIX's dividend yield for the trailing twelve months is around 7.31%, less than AFRAX's 7.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFRAX Invesco Floating Rate ESG Fund | 7.76% | 8.06% | 8.39% | 7.85% | 7.03% | 3.84% | 4.13% | 5.52% | 4.59% | 4.04% | 4.01% | 5.23% |
HFHIX Hartford Floating Rate High Income Fund | 7.31% | 6.70% | 6.73% | 6.60% | 5.21% | 3.30% | 3.86% | 4.75% | 6.55% | 4.24% | 5.01% | 5.58% |
Frequently Asked Questions
HFHIX and AFRAX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AFRAX has higher volatility (1.00%) compared to HFHIX (0.74%). In terms of maximum drawdown, HFHIX dropped -23.31% vs AFRAX's -37.60%.
HFHIX currently has the higher Sharpe Ratio (2.07 vs 1.30), 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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