MADVX vs. FRA

Last updated Aug 5, 2026

MADVX (BlackRock Equity Dividend Fund Institutional Shares) and FRA (BlackRock Floating Rate Income Strategies Fund Inc) are both mutual funds - MADVX is a Large Cap Value Equities fund actively managed by BlackRock, while FRA is a Bank Loan fund managed by BlackRock. Over the past 10 years, MADVX returned 11.92%/yr vs 6.35%/yr for FRA. Their 0.32 correlation means their historical movements had little consistent relationship. MADVX charges 0.71%/yr vs 2.17%/yr for FRA.

Performance

MADVX vs. FRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Equity Dividend Fund Institutional Shares (MADVX) and BlackRock Floating Rate Income Strategies Fund Inc (FRA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MADVX achieves a 17.98% return, which is significantly higher than FRA's -0.48% return. Over the past 10 years, MADVX has outperformed FRA with an annualized return of 11.92%, while FRA has yielded a comparatively lower 6.35% annualized return.

MADVX

• 1D: 1.38%
• 1M: 3.05%
• 6M: 12.88%
• YTD: 17.98%
• 1Y: 29.84%
• 3Y*: 17.18%
• 5Y*: 11.66%
• 10Y*: 11.92%
• ALL TIME*: 10.19%

FRA

• 1D: 0.09%
• 1M: 0.50%
• 6M: -0.92%
• YTD: -0.48%
• 1Y: -6.85%
• 3Y*: 7.40%
• 5Y*: 6.22%
• 10Y*: 6.35%
• ALL TIME*: 5.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FRA BlackRock Floating Rate Income Strategies Fund Inc	$1.54M	$1.59M	$1.49M
MADVX BlackRock Equity Dividend Fund Institutional Shares	$0.00	$0.00	$0.00

MADVX vs. FRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MADVX BlackRock Equity Dividend Fund Institutional Shares	17.98%	21.70%	6.98%	12.71%	-3.97%	20.13%	4.03%	27.58%	-7.15%	16.31%
FRA BlackRock Floating Rate Income Strategies Fund Inc	-0.48%	-3.75%	21.56%	25.46%	-10.59%	17.81%	-2.38%	20.82%	-8.27%	0.76%

Correlation

The correlation between MADVX and FRA is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.30
Correlation (5Y) Shows whether the relationship held over a longer period.	0.35
Correlation (10Y) Provides a long-term view across more market conditions.	0.34
Correlation (All Time) Calculated using the full available price history since Oct 29, 2003	0.32

Return for Risk

MADVX vs. FRA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MADVX

MADVX Risk / Return Rank: 92
MADVX Sharpe Ratio Rank: 96
MADVX Sortino Ratio Rank: 94
MADVX Omega Ratio Rank: 91
MADVX Calmar Ratio Rank: 89
MADVX Martin Ratio Rank: 93

FRA

FRA Risk / Return Rank: 1
FRA Sharpe Ratio Rank: 1
FRA Sortino Ratio Rank: 1
FRA Omega Ratio Rank: 1
FRA Calmar Ratio Rank: 1
FRA Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MADVX vs. FRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Equity Dividend Fund Institutional Shares (MADVX) and BlackRock Floating Rate Income Strategies Fund Inc (FRA). 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.

	MADVX	FRA	Difference
Sharpe ratio: Return per unit of total volatility	2.65	-0.68	+3.34
Sortino ratio: Return per unit of downside risk	3.66	-0.93	+4.59
Omega ratio: Gain probability vs. loss probability	1.47	0.89	+0.58
Calmar ratio: Return relative to maximum drawdown	3.47	-0.44	+3.92
Martin ratio: Return relative to average drawdown	14.87	-0.81	+15.68

MADVX vs. FRA - Sharpe Ratio Comparison

The current MADVX Sharpe Ratio is 2.65, which is higher than the FRA Sharpe Ratio of -0.68. The chart below compares the historical Sharpe Ratios of MADVX and FRA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MADVX vs. FRA - Drawdown Comparison

The maximum MADVX drawdown since its inception was -50.00%, roughly equal to the maximum FRA drawdown of -51.43%. Use the drawdown chart below to compare losses from any high point for MADVX and FRA.

Drawdown Indicators

	MADVX	FRA	Difference
Max Drawdown Largest peak-to-trough decline	-50.00%	-51.43%	+1.43%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-15.47%	+6.46%
Max Drawdown (3Y) Largest decline over 3 years	-15.22%	-18.77%	+3.55%
Max Drawdown (5Y) Largest decline over 5 years	-18.05%	-18.77%	+0.72%
Max Drawdown (10Y) Largest decline over 10 years	-35.94%	-42.80%	+6.86%
Current Drawdown Current decline from peak	0.00%	-8.96%	+8.96%
Average Drawdown Average peak-to-trough decline	-5.27%	-7.23%	+1.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	8.48%	-6.38%

Volatility

MADVX vs. FRA - Volatility Comparison

BlackRock Equity Dividend Fund Institutional Shares (MADVX) has a higher volatility of 3.45% compared to BlackRock Floating Rate Income Strategies Fund Inc (FRA) at 1.86%. This indicates that MADVX's price experiences larger fluctuations and is considered to be riskier than FRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MADVX	FRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	1.86%	+1.59%
Volatility (6M) Calculated over the trailing 6-month period	9.51%	7.95%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	11.81%	10.05%	+1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	12.84%	+1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.31%	15.52%	+0.79%

MADVX vs. FRA - Expense Ratio Comparison

MADVX has a 0.71% expense ratio, which is lower than FRA's 2.17% expense ratio.

Dividends

MADVX vs. FRA - Dividend Comparison

MADVX's dividend yield for the trailing twelve months is around 13.81%, which matches FRA's 13.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRA BlackRock Floating Rate Income Strategies Fund Inc	13.70%	12.62%	10.81%	10.44%	6.88%	5.96%	7.61%	6.44%	6.90%	5.31%	5.65%	6.17%
MADVX BlackRock Equity Dividend Fund Institutional Shares	13.81%	10.23%	8.58%	7.08%	13.50%	12.15%	6.35%	13.15%	14.04%	14.38%	7.98%	18.44%

Frequently Asked Questions

Can I hold both MADVX and FRA in my portfolio?

MADVX and FRA have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MADVX or FRA?

MADVX has higher volatility (3.45%) compared to FRA (1.86%). In terms of maximum drawdown, MADVX dropped -50.00% vs FRA's -51.43%.

Which has better risk-adjusted returns?

MADVX currently has the higher Sharpe Ratio (2.65 vs -0.68), 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.