PFLT vs. OCSL
PFLT (PennantPark Floating Rate Capital Ltd.) and OCSL (Oaktree Specialty Lending Corporation) are both stocks. Both are in the Financial Services sector — PFLT in Asset Management, OCSL in Credit Services. Over the past 10 years, PFLT returned 4.93%/yr vs 7.88%/yr for OCSL. At a 0.43 correlation, their price movements are largely independent.
Performance
PFLT vs. OCSL - Performance Comparison
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Returns By Period
In the year-to-date period, PFLT achieves a -16.15% return, which is significantly lower than OCSL's -4.33% return. Over the past 10 years, PFLT has underperformed OCSL with an annualized return of 4.93%, while OCSL has yielded a comparatively higher 7.88% annualized return.
PFLT
- 1D
- -3.07%
- 1M
- -9.66%
- YTD
- -16.15%
- 6M
- -14.30%
- 1Y
- -19.29%
- 3Y*
- -0.23%
- 5Y*
- -0.54%
- 10Y*
- 4.93%
OCSL
- 1D
- -1.47%
- 1M
- -0.18%
- YTD
- -4.33%
- 6M
- -4.70%
- 1Y
- -5.66%
- 3Y*
- -4.04%
- 5Y*
- 0.33%
- 10Y*
- 7.88%
PFLT vs. OCSL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFLT PennantPark Floating Rate Capital Ltd. | -16.15% | -4.17% | 0.62% | 23.05% | -5.53% | 32.64% | -1.41% | 15.52% | -8.29% | 5.49% |
OCSL Oaktree Specialty Lending Corporation | -4.33% | -6.06% | -15.15% | 11.25% | 3.74% | 44.99% | 11.00% | 38.74% | -6.31% | -1.09% |
Correlation
The correlation between PFLT and OCSL is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.43 |
Over the past year, PFLT and OCSL have become more correlated (0.71) than their long-term average of 0.43, meaning their price movements have been converging.
Fundamentals
PFLT:
$1.69
OCSL:
$1.17
PFLT:
4.29
OCSL:
9.78
PFLT:
0.02
OCSL:
0.80
PFLT:
2.21
OCSL:
3.43
PFLT:
$229.78M
OCSL:
$293.40M
PFLT:
$45.40M
OCSL:
$174.66M
PFLT:
$38.59M
OCSL:
$121.85M
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Return for Risk
PFLT vs. OCSL — Risk / Return Rank
PFLT
OCSL
PFLT vs. OCSL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PennantPark Floating Rate Capital Ltd. (PFLT) and Oaktree Specialty Lending Corporation (OCSL). 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.
| PFLT | OCSL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.97 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | -0.29 | -0.51 |
| Martin ratioReturn relative to average drawdown | -1.61 | -0.62 | -0.99 |
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Drawdowns
PFLT vs. OCSL - Drawdown Comparison
The maximum PFLT drawdown since its inception was -69.77%, which is greater than OCSL's maximum drawdown of -59.52%. Use the drawdown chart below to compare losses from any high point for PFLT and OCSL.
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Drawdown Indicators
| PFLT | OCSL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.77% | -59.52% | -10.25% |
Max Drawdown (1Y)Largest decline over 1 year | -24.19% | -19.77% | -4.42% |
Max Drawdown (3Y)Largest decline over 3 years | -25.22% | -34.16% | +8.94% |
Max Drawdown (5Y)Largest decline over 5 years | -29.64% | -34.16% | +4.52% |
Max Drawdown (10Y)Largest decline over 10 years | -69.77% | -57.32% | -12.45% |
Current DrawdownCurrent decline from peak | -25.22% | -27.70% | +2.48% |
Average DrawdownAverage peak-to-trough decline | -8.34% | -16.69% | +8.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.02% | 9.15% | +2.87% |
Volatility
PFLT vs. OCSL - Volatility Comparison
PennantPark Floating Rate Capital Ltd. (PFLT) has a higher volatility of 8.39% compared to Oaktree Specialty Lending Corporation (OCSL) at 6.58%. This indicates that PFLT's price experiences larger fluctuations and is considered to be riskier than OCSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFLT | OCSL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.39% | 6.58% | +1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 17.35% | 17.82% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.97% | 21.84% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.31% | 19.96% | +1.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.01% | 26.89% | +2.12% |
Dividends
PFLT vs. OCSL - Dividend Comparison
PFLT's dividend yield for the trailing twelve months is around 16.70%, more than OCSL's 13.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OCSL Oaktree Specialty Lending Corporation | 13.49% | 13.27% | 14.40% | 11.12% | 11.86% | 7.37% | 7.27% | 6.96% | 8.75% | 8.38% | 13.41% | 10.84% |
PFLT PennantPark Floating Rate Capital Ltd. | 16.70% | 13.27% | 11.25% | 9.98% | 10.38% | 8.93% | 10.83% | 9.24% | 9.59% | 8.31% | 8.08% | 10.04% |
Financials
PFLT vs. OCSL - Financials Comparison
This section allows you to compare key financial metrics between PennantPark Floating Rate Capital Ltd. and Oaktree Specialty Lending Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PFLT vs. OCSL - Profitability Comparison
PFLT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PennantPark Floating Rate Capital Ltd. reported a gross profit of 1.39M and revenue of 110.28M. Therefore, the gross margin over that period was 1.3%.
OCSL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Oaktree Specialty Lending Corporation reported a gross profit of 0.00 and revenue of 65.25M. Therefore, the gross margin over that period was 0.0%.
PFLT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PennantPark Floating Rate Capital Ltd. reported an operating income of 3.99M and revenue of 110.28M, resulting in an operating margin of 3.6%.
OCSL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Oaktree Specialty Lending Corporation reported an operating income of 0.00 and revenue of 65.25M, resulting in an operating margin of 0.0%.
PFLT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PennantPark Floating Rate Capital Ltd. reported a net income of 85.16M and revenue of 110.28M, resulting in a net margin of 77.2%.
OCSL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Oaktree Specialty Lending Corporation reported a net income of 34.37M and revenue of 65.25M, resulting in a net margin of 52.7%.
Frequently Asked Questions
PFLT and OCSL have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFLT has higher volatility (8.39%) compared to OCSL (6.58%). In terms of maximum drawdown, PFLT dropped -69.77% vs OCSL's -59.52%.
OCSL currently has the higher Sharpe Ratio (-0.26 vs -0.92), 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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