PFLRX vs. FLRT
PFLRX (Putnam Floating Rate Income Fund) and FLRT (Pacific Global Senior Loan ETF) are both funds - PFLRX is a Bank Loan fund managed by Putnam, while FLRT is a High Yield Bonds fund actively managed by Pacific Life. Over the past 10 years, PFLRX returned 3.72%/yr vs 4.91%/yr for FLRT. At a 0.29 correlation, their price movements are largely independent. PFLRX charges 1.03%/yr vs 0.69%/yr for FLRT.
Performance
PFLRX vs. FLRT - Performance Comparison
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Returns By Period
Over the past 10 years, PFLRX has underperformed FLRT with an annualized return of 3.72%, while FLRT has yielded a comparatively higher 4.91% annualized return.
PFLRX
- 1D
- 0.00%
- 1M
- 0.43%
- YTD
- -0.00%
- 6M
- 0.44%
- 1Y
- 3.28%
- 3Y*
- 5.63%
- 5Y*
- 4.03%
- 10Y*
- 3.72%
FLRT
- 1D
- -0.04%
- 1M
- 0.24%
- YTD
- 1.88%
- 6M
- 1.93%
- 1Y
- 5.70%
- 3Y*
- 8.56%
- 5Y*
- 5.97%
- 10Y*
- 4.91%
PFLRX vs. FLRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFLRX Putnam Floating Rate Income Fund | -0.00% | 4.74% | 6.34% | 11.01% | -2.78% | 3.04% | 0.69% | 8.14% | -0.66% | 3.28% |
FLRT Pacific Global Senior Loan ETF | 1.88% | 6.24% | 9.18% | 14.59% | -2.72% | 3.18% | 2.78% | 9.44% | -1.14% | 1.72% |
Correlation
The correlation between PFLRX and FLRT is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2015 | 0.29 |
The correlation between PFLRX and FLRT shifts across timeframes, from 0.22 (1 year) to 0.38 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PFLRX vs. FLRT — Risk / Return Rank
PFLRX
FLRT
PFLRX vs. FLRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Floating Rate Income Fund (PFLRX) and Pacific Global Senior Loan ETF (FLRT). 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 | FLRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.20 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.85 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 3.22 | -1.56 |
| Martin ratioReturn relative to average drawdown | 4.45 | 11.76 | -7.32 |
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Drawdowns
PFLRX vs. FLRT - Drawdown Comparison
The maximum PFLRX drawdown since its inception was -32.89%, which is greater than FLRT's maximum drawdown of -20.96%. Use the drawdown chart below to compare losses from any high point for PFLRX and FLRT.
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Drawdown Indicators
| PFLRX | FLRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.89% | -20.96% | -11.93% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -1.78% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -3.01% | -2.87% | -0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -6.95% | -7.60% | +0.65% |
Max Drawdown (10Y)Largest decline over 10 years | -20.74% | -20.96% | +0.22% |
Current DrawdownCurrent decline from peak | -0.39% | -0.11% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -1.74% | -1.41% | -0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 0.49% | +0.25% |
Volatility
PFLRX vs. FLRT - Volatility Comparison
Putnam Floating Rate Income Fund (PFLRX) has a higher volatility of 0.67% compared to Pacific Global Senior Loan ETF (FLRT) at 0.43%. This indicates that PFLRX's price experiences larger fluctuations and is considered to be riskier than FLRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFLRX | FLRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 0.43% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 1.22% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.36% | 1.60% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.83% | 2.30% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.01% | 6.12% | -2.11% |
PFLRX vs. FLRT - Expense Ratio Comparison
PFLRX has a 1.03% expense ratio, which is higher than FLRT's 0.69% expense ratio.
Dividends
PFLRX vs. FLRT - Dividend Comparison
PFLRX's dividend yield for the trailing twelve months is around 6.30%, less than FLRT's 6.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRT Pacific Global Senior Loan ETF | 6.80% | 6.93% | 7.93% | 8.40% | 5.81% | 3.16% | 3.52% | 4.30% | 3.95% | 3.20% | 3.38% | 3.21% |
PFLRX Putnam Floating Rate Income Fund | 6.30% | 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 FLRT have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFLRX has higher volatility (0.67%) compared to FLRT (0.43%). In terms of maximum drawdown, PFLRX dropped -32.89% vs FLRT's -20.96%.
FLRT currently has the higher Sharpe Ratio (3.59 vs 1.39), 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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