PLFRX vs. FFRHX
PLFRX (Pacific Funds Floating Rate Income) and FFRHX (Fidelity Floating Rate High Income Fund) are both Bank Loan funds. Over the past 10 years, PLFRX returned 5.08%/yr vs 4.94%/yr for FFRHX. A 0.60 correlation means they provide meaningful diversification when combined. PLFRX charges 0.68%/yr vs 0.67%/yr for FFRHX.
Performance
PLFRX vs. FFRHX - Performance Comparison
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Returns By Period
In the year-to-date period, PLFRX achieves a 0.99% return, which is significantly lower than FFRHX's 1.71% return. Both investments have delivered pretty close results over the past 10 years, with PLFRX having a 5.08% annualized return and FFRHX not far behind at 4.94%.
PLFRX
- 1D
- 0.00%
- 1M
- 0.12%
- YTD
- 0.99%
- 6M
- 1.61%
- 1Y
- 5.81%
- 3Y*
- 7.99%
- 5Y*
- 5.81%
- 10Y*
- 5.08%
FFRHX
- 1D
- 0.00%
- 1M
- 0.22%
- YTD
- 1.71%
- 6M
- 2.32%
- 1Y
- 5.89%
- 3Y*
- 7.17%
- 5Y*
- 5.40%
- 10Y*
- 4.94%
PLFRX vs. FFRHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PLFRX Pacific Funds Floating Rate Income | 0.99% | 6.68% | 8.38% | 13.94% | -2.01% | 4.36% | 1.26% | 8.30% | 0.39% | 4.33% |
FFRHX Fidelity Floating Rate High Income Fund | 1.71% | 5.47% | 7.10% | 12.63% | -1.55% | 5.01% | 1.69% | 8.63% | 0.10% | 3.91% |
Correlation
The correlation between PLFRX and FFRHX is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2011 | 0.60 |
The correlation between PLFRX and FFRHX shifts across timeframes, from 0.53 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PLFRX vs. FFRHX — Risk / Return Rank
PLFRX
FFRHX
PLFRX vs. FFRHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacific Funds Floating Rate Income (PLFRX) and Fidelity Floating Rate High Income Fund (FFRHX). 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.
| PLFRX | FFRHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.80 | 1.87 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 4.97 | -1.60 |
| Martin ratioReturn relative to average drawdown | 11.48 | 17.11 | -5.63 |
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Drawdowns
PLFRX vs. FFRHX - Drawdown Comparison
The maximum PLFRX drawdown since its inception was -18.75%, smaller than the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for PLFRX and FFRHX.
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Drawdown Indicators
| PLFRX | FFRHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.75% | -22.20% | +3.45% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -1.19% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -2.17% | -3.29% | +1.12% |
Max Drawdown (5Y)Largest decline over 5 years | -6.44% | -5.90% | -0.54% |
Max Drawdown (10Y)Largest decline over 10 years | -18.75% | -22.20% | +3.45% |
Current DrawdownCurrent decline from peak | -0.32% | -0.44% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -0.73% | -1.15% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.35% | +0.16% |
Volatility
PLFRX vs. FFRHX - Volatility Comparison
Pacific Funds Floating Rate Income (PLFRX) and Fidelity Floating Rate High Income Fund (FFRHX) have volatilities of 0.64% and 0.66%, 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.
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Volatility by Period
| PLFRX | FFRHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.66% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.89% | 1.63% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.48% | 2.37% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.79% | 2.88% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.77% | 4.14% | -0.37% |
PLFRX vs. FFRHX - Expense Ratio Comparison
PLFRX has a 0.68% expense ratio, which is higher than FFRHX's 0.67% expense ratio.
Dividends
PLFRX vs. FFRHX - Dividend Comparison
PLFRX's dividend yield for the trailing twelve months is around 7.10%, which matches FFRHX's 7.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 7.09% | 7.41% | 6.94% | 8.24% | 3.81% | 2.74% | 3.84% | 5.15% | 4.74% | 4.05% | 4.44% | 3.69% |
PLFRX Pacific Funds Floating Rate Income | 7.10% | 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
PLFRX and FFRHX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FFRHX has higher volatility (0.66%) compared to PLFRX (0.64%). In terms of maximum drawdown, PLFRX dropped -18.75% vs FFRHX's -22.20%.
FFRHX currently has the higher Sharpe Ratio (2.50 vs 2.35), 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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