PLFRX vs. FRFZX

Last updated Jun 4, 2026

PLFRX (Pacific Funds Floating Rate Income) and FRFZX (PGIM Floating Rate Income Fund) are both Bank Loan funds. Over the past 10 years, PLFRX returned 5.11%/yr vs 5.36%/yr for FRFZX. A 0.58 correlation means they provide meaningful diversification when combined. PLFRX charges 0.68%/yr vs 0.70%/yr for FRFZX.

Performance

PLFRX vs. FRFZX - Performance Comparison

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

Returns By Period

In the year-to-date period, PLFRX achieves a 1.32% return, which is significantly lower than FRFZX's 2.29% return. Both investments have delivered pretty close results over the past 10 years, with PLFRX having a 5.11% annualized return and FRFZX not far ahead at 5.36%.

PLFRX

• 1D: 0.00%
• 1M: 0.55%
• YTD: 1.32%
• 6M: 2.15%
• 1Y: 6.15%
• 3Y*: 8.42%
• 5Y*: 5.90%
• 10Y*: 5.11%

FRFZX

• 1D: 0.00%
• 1M: 0.65%
• YTD: 2.29%
• 6M: 3.07%
• 1Y: 6.22%
• 3Y*: 8.74%
• 5Y*: 5.83%
• 10Y*: 5.36%

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

PLFRX vs. FRFZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
FRFZX PGIM Floating Rate Income Fund	2.29%	5.66%	9.45%	14.11%	-3.56%	5.46%	4.62%	7.47%	-0.13%	4.48%

Correlation

The correlation between PLFRX and FRFZX is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jul 5, 2011	0.58

The correlation between PLFRX and FRFZX shifts across timeframes, from 0.54 (3 years) to 0.66 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PLFRX vs. FRFZX — Risk / Return Rank

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

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: 62

FRFZX

FRFZX Risk / Return Rank: 94
FRFZX Sharpe Ratio Rank: 83
FRFZX Sortino Ratio Rank: 98
FRFZX Omega Ratio Rank: 97
FRFZX Calmar Ratio Rank: 97
FRFZX Martin Ratio Rank: 95

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.

PLFRX vs. FRFZX - Risk-Adjusted Trends Comparison

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

	PLFRX	FRFZX	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.69	-0.18
Sortino ratio: Return per unit of downside risk	5.67	6.64	-0.98
Omega ratio: Gain probability vs. loss probability	1.90	2.02	-0.12
Calmar ratio: Return relative to maximum drawdown	3.57	7.34	-3.78
Martin ratio: Return relative to average drawdown	12.24	22.93	-10.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLFRX vs. FRFZX - Sharpe Ratio Comparison

The current PLFRX Sharpe Ratio is 2.51, which is comparable to the FRFZX Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of PLFRX and FRFZX, 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

	PLFRX	FRFZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.69	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.13	1.89	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.36	1.36	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	1.41	+0.06

Drawdowns

PLFRX vs. FRFZX - Drawdown Comparison

The maximum PLFRX drawdown since its inception was -18.75%, smaller than the maximum FRFZX drawdown of -21.95%. Use the drawdown chart below to compare losses from any high point for PLFRX and FRFZX.

Drawdown Indicators

	PLFRX	FRFZX	Difference
Max Drawdown Largest peak-to-trough decline	-18.75%	-21.95%	+3.20%
Max Drawdown (1Y) Largest decline over 1 year	-1.73%	-0.85%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-2.17%	-3.12%	+0.95%
Max Drawdown (5Y) Largest decline over 5 years	-6.44%	-7.85%	+1.41%
Max Drawdown (10Y) Largest decline over 10 years	-18.75%	-21.95%	+3.20%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.73%	-0.91%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	0.27%	+0.23%

Volatility

PLFRX vs. FRFZX - Volatility Comparison

Pacific Funds Floating Rate Income (PLFRX) and PGIM Floating Rate Income Fund (FRFZX) have volatilities of 0.61% and 0.59%, 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.

Volatility by Period

	PLFRX	FRFZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	0.59%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	1.89%	1.59%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	2.46%	2.33%	+0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.78%	3.09%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.77%	3.97%	-0.20%

PLFRX vs. FRFZX - Expense Ratio Comparison

PLFRX has a 0.68% expense ratio, which is lower than FRFZX's 0.70% expense ratio.

Dividends

PLFRX vs. FRFZX - Dividend Comparison

PLFRX's dividend yield for the trailing twelve months is around 7.08%, less than FRFZX's 7.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRFZX PGIM Floating Rate Income Fund	7.40%	7.65%	8.76%	8.87%	6.41%	3.33%	5.35%	5.42%	5.06%	4.90%	4.34%	3.97%
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 PLFRX and FRFZX in my portfolio?

PLFRX and FRFZX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLFRX or FRFZX?

PLFRX has higher volatility (0.61%) compared to FRFZX (0.59%). In terms of maximum drawdown, PLFRX dropped -18.75% vs FRFZX's -21.95%.

Which has better risk-adjusted returns?

FRFZX currently has the higher Sharpe Ratio (2.69 vs 2.51), 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.