PFLRX vs. PLFRX

Last updated Jun 5, 2026

PFLRX (Putnam Floating Rate Income Fund) and PLFRX (Pacific Funds Floating Rate Income) are both Bank Loan funds. Over the past 10 years, PFLRX returned 3.73%/yr vs 5.11%/yr for PLFRX. A 0.61 correlation means they provide meaningful diversification when combined. PFLRX charges 1.03%/yr vs 0.68%/yr for PLFRX.

Performance

PFLRX vs. PLFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Floating Rate Income Fund (PFLRX) and Pacific Funds Floating Rate Income (PLFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFLRX achieves a 0.13% return, which is significantly lower than PLFRX's 1.32% return. Over the past 10 years, PFLRX has underperformed PLFRX with an annualized return of 3.73%, while PLFRX has yielded a comparatively higher 5.11% annualized return.

PFLRX

• 1D: -0.13%
• 1M: 0.70%
• YTD: 0.13%
• 6M: 0.70%
• 1Y: 3.15%
• 3Y*: 5.94%
• 5Y*: 4.06%
• 10Y*: 3.73%

PLFRX

• 1D: 0.00%
• 1M: 0.44%
• YTD: 1.32%
• 6M: 2.04%
• 1Y: 6.04%
• 3Y*: 8.42%
• 5Y*: 5.90%
• 10Y*: 5.11%

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

PFLRX vs. PLFRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFLRX Putnam Floating Rate Income Fund	0.13%	4.74%	6.34%	11.01%	-2.78%	3.04%	0.69%	8.14%	-0.66%	3.28%
PLFRX Pacific Funds Floating Rate Income	1.32%	6.68%	8.38%	13.94%	-2.01%	4.36%	1.26%	8.30%	0.39%	4.33%

Correlation

The correlation between PFLRX and PLFRX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jul 5, 2011	0.61

The correlation between PFLRX and PLFRX has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

Return for Risk

PFLRX vs. PLFRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PFLRX

PFLRX Risk / Return Rank: 29
PFLRX Sharpe Ratio Rank: 23
PFLRX Sortino Ratio Rank: 38
PFLRX Omega Ratio Rank: 46
PFLRX Calmar Ratio Rank: 20
PFLRX Martin Ratio Rank: 16

PLFRX

PLFRX Risk / Return Rank: 82
PLFRX Sharpe Ratio Rank: 75
PLFRX Sortino Ratio Rank: 97
PLFRX Omega Ratio Rank: 97
PLFRX Calmar Ratio Rank: 79
PLFRX Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PFLRX vs. PLFRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Floating Rate Income Fund (PFLRX) and Pacific Funds Floating Rate Income (PLFRX). 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.

	PFLRX	PLFRX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.51	-1.17
Sortino ratio: Return per unit of downside risk	2.52	5.67	-3.15
Omega ratio: Gain probability vs. loss probability	1.36	1.90	-0.54
Calmar ratio: Return relative to maximum drawdown	1.60	3.57	-1.97
Martin ratio: Return relative to average drawdown	4.30	12.24	-7.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFLRX vs. PLFRX - Sharpe Ratio Comparison

The current PFLRX Sharpe Ratio is 1.34, which is lower than the PLFRX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of PFLRX and PLFRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PFLRX	PLFRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	2.51	-1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.44	2.13	-0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	1.36	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.47	-0.51

Drawdowns

PFLRX vs. PLFRX - Drawdown Comparison

The maximum PFLRX drawdown since its inception was -32.89%, which is greater than PLFRX's maximum drawdown of -18.75%. Use the drawdown chart below to compare losses from any high point for PFLRX and PLFRX.

Drawdown Indicators

	PFLRX	PLFRX	Difference
Max Drawdown Largest peak-to-trough decline	-32.89%	-18.75%	-14.14%
Max Drawdown (1Y) Largest decline over 1 year	-1.98%	-1.73%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-3.01%	-2.17%	-0.84%
Max Drawdown (5Y) Largest decline over 5 years	-6.95%	-6.44%	-0.51%
Max Drawdown (10Y) Largest decline over 10 years	-20.74%	-18.75%	-1.99%
Current Drawdown Current decline from peak	-0.26%	0.00%	-0.26%
Average Drawdown Average peak-to-trough decline	-1.74%	-0.73%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	0.50%	+0.24%

Volatility

PFLRX vs. PLFRX - Volatility Comparison

Putnam Floating Rate Income Fund (PFLRX) has a higher volatility of 0.69% compared to Pacific Funds Floating Rate Income (PLFRX) at 0.61%. This indicates that PFLRX's price experiences larger fluctuations and is considered to be riskier than PLFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFLRX	PLFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	0.61%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	1.62%	1.88%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	2.46%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.83%	2.78%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.02%	3.77%	+0.25%

PFLRX vs. PLFRX - Expense Ratio Comparison

PFLRX has a 1.03% expense ratio, which is higher than PLFRX's 0.68% expense ratio.

Dividends

PFLRX vs. PLFRX - Dividend Comparison

PFLRX's dividend yield for the trailing twelve months is around 6.29%, less than PLFRX's 7.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFLRX Putnam Floating Rate Income Fund	6.29%	6.69%	6.25%	7.27%	3.48%	2.63%	3.10%	4.56%	4.54%	3.69%	3.71%	4.45%
PLFRX Pacific Funds Floating Rate Income	7.08%	7.18%	8.47%	8.92%	4.39%	3.65%	3.68%	5.10%	5.03%	4.46%	4.21%	4.52%

Frequently Asked Questions

Can I hold both PFLRX and PLFRX in my portfolio?

PFLRX and PLFRX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFLRX or PLFRX?

PFLRX has higher volatility (0.69%) compared to PLFRX (0.61%). In terms of maximum drawdown, PFLRX dropped -32.89% vs PLFRX's -18.75%.

Which has better risk-adjusted returns?

PLFRX currently has the higher Sharpe Ratio (2.51 vs 1.34), 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.