PFLRX vs. BGT
PFLRX (Putnam Floating Rate Income Fund) and BGT (BlackRock Floating Rate Income Trust) are both Bank Loan funds. Over the past 10 years, PFLRX returned 3.63%/yr vs 6.44%/yr for BGT. Their 0.20 correlation means their historical movements had little consistent relationship. PFLRX charges 1.03%/yr vs 1.74%/yr for BGT.
Performance
PFLRX vs. BGT - Performance Comparison
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Returns By Period
In the year-to-date period, PFLRX achieves a 0.55% return, which is significantly lower than BGT's 3.11% return. Over the past 10 years, PFLRX has underperformed BGT with an annualized return of 3.63%, while BGT has yielded a comparatively higher 6.44% annualized return.
PFLRX
- 1D
- 0.13%
- 1M
- 0.13%
- 6M
- 0.61%
- YTD
- 0.55%
- 1Y
- 2.17%
- 3Y*
- 5.05%
- 5Y*
- 4.16%
- 10Y*
- 3.63%
- ALL TIME*
- 3.55%
BGT
- 1D
- 0.28%
- 1M
- 2.84%
- 6M
- 0.88%
- YTD
- 3.11%
- 1Y
- -2.41%
- 3Y*
- 8.74%
- 5Y*
- 6.76%
- 10Y*
- 6.44%
- ALL TIME*
- 5.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.62M | $1.33M | $1.17M | |
| $0.00 | $0.00 | $0.00 |
PFLRX vs. BGT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFLRX Putnam Floating Rate Income Fund | 0.55% | 4.74% | 6.34% | 11.01% | -2.78% | 3.04% | 0.69% | 8.14% | -0.66% | 3.28% |
BGT BlackRock Floating Rate Income Trust | 3.11% | -0.84% | 16.12% | 26.29% | -16.57% | 25.89% | -0.81% | 18.97% | -11.95% | 3.91% |
Correlation
The correlation between PFLRX and BGT is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.28 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.26 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2004 | 0.20 |
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Return for Risk
PFLRX vs. BGT — Risk / Return Rank
PFLRX
BGT
PFLRX vs. BGT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Floating Rate Income Fund (PFLRX) and BlackRock Floating Rate Income Trust (BGT). 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.
| PFLRX | BGT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.97 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | -0.22 | +1.38 |
| Martin ratioReturn relative to average drawdown | 3.10 | -0.46 | +3.55 |
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Drawdowns
PFLRX vs. BGT - Drawdown Comparison
The maximum PFLRX drawdown since its inception was -32.89%, smaller than the maximum BGT drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for PFLRX and BGT.
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Drawdown Indicators
| PFLRX | BGT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.89% | -58.06% | +25.17% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -10.93% | +8.95% |
Max Drawdown (3Y)Largest decline over 3 years | -3.01% | -15.91% | +12.90% |
Max Drawdown (5Y)Largest decline over 5 years | -6.95% | -23.19% | +16.24% |
Max Drawdown (10Y)Largest decline over 10 years | -20.74% | -41.90% | +21.16% |
Current DrawdownCurrent decline from peak | -0.13% | -3.18% | +3.05% |
Average DrawdownAverage peak-to-trough decline | -1.73% | -8.10% | +6.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 5.28% | -4.54% |
Volatility
PFLRX vs. BGT - Volatility Comparison
The current volatility for Putnam Floating Rate Income Fund (PFLRX) is 0.30%, while BlackRock Floating Rate Income Trust (BGT) has a volatility of 3.09%. This indicates that PFLRX experiences smaller price fluctuations and is considered to be less risky than BGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFLRX | BGT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 3.09% | -2.79% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 7.44% | -5.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.24% | 9.95% | -7.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 13.60% | -10.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.02% | 15.35% | -11.33% |
PFLRX vs. BGT - Expense Ratio Comparison
PFLRX has a 1.03% expense ratio, which is lower than BGT's 1.74% expense ratio.
Dividends
PFLRX vs. BGT - Dividend Comparison
PFLRX's dividend yield for the trailing twelve months is around 5.68%, less than BGT's 13.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGT BlackRock Floating Rate Income Trust | 13.34% | 12.74% | 11.22% | 10.36% | 6.87% | 5.55% | 7.58% | 6.33% | 6.64% | 5.03% | 5.03% | 6.04% |
PFLRX Putnam Floating Rate Income Fund | 5.68% | 6.69% | 6.25% | 7.27% | 3.48% | 2.63% | 3.10% | 4.56% | 4.54% | 3.69% | 3.71% | 4.45% |
Frequently Asked Questions
PFLRX and BGT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGT has higher volatility (3.09%) compared to PFLRX (0.30%). In terms of maximum drawdown, PFLRX dropped -32.89% vs BGT's -58.06%.
PFLRX currently has the higher Sharpe Ratio (1.03 vs -0.24), 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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