PFLT vs. SPY
Compare and contrast key facts about PennantPark Floating Rate Capital Ltd. (PFLT) and SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PFLT or SPY.
Performance
PFLT vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, PFLT achieves a 0.78% return, which is significantly lower than SPY's 25.41% return. Over the past 10 years, PFLT has underperformed SPY with an annualized return of 7.56%, while SPY has yielded a comparatively higher 13.07% annualized return.
PFLT
0.78%
-6.20%
3.92%
12.74%
9.85%
7.56%
SPY
25.41%
1.18%
12.15%
32.04%
15.51%
13.07%
Key characteristics
| PFLT | SPY | |
|---|---|---|
| Sharpe Ratio | 0.91 | 2.62 |
| Sortino Ratio | 1.25 | 3.50 |
| Omega Ratio | 1.17 | 1.49 |
| Calmar Ratio | 1.10 | 3.78 |
| Martin Ratio | 2.19 | 17.00 |
| Ulcer Index | 5.77% | 1.87% |
| Daily Std Dev | 13.88% | 12.14% |
| Max Drawdown | -69.77% | -55.19% |
| Current Drawdown | -6.20% | -1.38% |
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Correlation
The correlation between PFLT and SPY is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
PFLT vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PennantPark Floating Rate Capital Ltd. (PFLT) and SPDR S&P 500 ETF (SPY). 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.
Dividends
PFLT vs. SPY - Dividend Comparison
PFLT's dividend yield for the trailing twelve months is around 11.13%, more than SPY's 1.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFLT PennantPark Floating Rate Capital Ltd. | 11.13% | 9.98% | 10.38% | 8.93% | 10.83% | 9.36% | 9.85% | 8.31% | 8.08% | 10.04% | 7.87% | 7.63% |
SPY SPDR S&P 500 ETF | 1.19% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
PFLT vs. SPY - Drawdown Comparison
The maximum PFLT drawdown since its inception was -69.77%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PFLT and SPY. For additional features, visit the drawdowns tool.
Volatility
PFLT vs. SPY - Volatility Comparison
PennantPark Floating Rate Capital Ltd. (PFLT) and SPDR S&P 500 ETF (SPY) have volatilities of 4.15% and 4.09%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.