PFRL vs. USLN
PFRL (PGIM Floating Rate Income ETF) and USLN (iShares Broad USD Floating Rate Loan ETF) are both Bank Loan funds. PFRL is actively managed, while USLN is passively managed. At a 0.18 correlation, their price movements are largely independent. PFRL charges 0.72%/yr vs 0.43%/yr for USLN.
Performance
PFRL vs. USLN - Performance Comparison
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Returns By Period
PFRL
- 1D
- 0.09%
- 1M
- 0.68%
- YTD
- 1.96%
- 6M
- 2.91%
- 1Y
- 6.46%
- 3Y*
- 8.85%
- 5Y*
- —
- 10Y*
- —
USLN
- 1D
- -0.03%
- 1M
- 0.53%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PFRL vs. USLN - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
PFRL PGIM Floating Rate Income ETF | 2.58% |
USLN iShares Broad USD Floating Rate Loan ETF | 1.87% |
Correlation
The correlation between PFRL and USLN is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 5, 2026 | 0.18 |
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Return for Risk
PFRL vs. USLN — Risk / Return Rank
PFRL
USLN
PFRL vs. USLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Floating Rate Income ETF (PFRL) and iShares Broad USD Floating Rate Loan ETF (USLN). 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.
| PFRL | USLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.73 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 5.17 | — | — |
| Martin ratioReturn relative to average drawdown | 17.58 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PFRL | USLN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.67 | 2.99 | -1.33 |
Drawdowns
PFRL vs. USLN - Drawdown Comparison
The maximum PFRL drawdown since its inception was -8.83%, which is greater than USLN's maximum drawdown of -0.75%. Use the drawdown chart below to compare losses from any high point for PFRL and USLN.
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Drawdown Indicators
| PFRL | USLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.83% | -0.75% | -8.08% |
Max Drawdown (1Y)Largest decline over 1 year | -1.25% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -8.83% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.06% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -0.44% | -0.22% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | — | — |
Volatility
PFRL vs. USLN - Volatility Comparison
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Volatility by Period
| PFRL | USLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.94% | 2.60% | -0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.86% | 2.60% | +2.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.86% | 2.60% | +2.26% |
PFRL vs. USLN - Expense Ratio Comparison
PFRL has a 0.72% expense ratio, which is higher than USLN's 0.43% expense ratio.
Dividends
PFRL vs. USLN - Dividend Comparison
PFRL's dividend yield for the trailing twelve months is around 6.83%, more than USLN's 1.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
PFRL PGIM Floating Rate Income ETF | 6.83% | 7.34% | 8.96% | 9.84% | 3.55% |
USLN iShares Broad USD Floating Rate Loan ETF | 1.54% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFRL and USLN have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USLN is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USLN is cheaper with a 0.43% expense ratio, compared with 0.72% for PFRL.
PFRL has the higher dividend yield at 6.83%, compared with 1.54% for USLN.
They also come from different issuers: PGIM and iShares. Their fees differ too: 0.72% for PFRL and 0.43% for USLN.
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