PSHNX vs. JFR

Last updated Jun 5, 2026

PSHNX (Penn Capital Short Duration High Income Fund) and JFR (Nuveen Floating Rate Income Fund) are both High Yield Bonds funds. Over the past 5 years, PSHNX returned 4.81%/yr vs 5.93%/yr for JFR. At a 0.31 correlation, their price movements are largely independent. PSHNX charges 1.01%/yr vs 0.02%/yr for JFR.

Performance

PSHNX vs. JFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Penn Capital Short Duration High Income Fund (PSHNX) and Nuveen Floating Rate Income Fund (JFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSHNX achieves a 1.52% return, which is significantly lower than JFR's 2.59% return.

PSHNX

• 1D: -0.10%
• 1M: 0.37%
• YTD: 1.52%
• 6M: 2.26%
• 1Y: 6.22%
• 3Y*: 7.29%
• 5Y*: 4.81%
• 10Y*: —

JFR

• 1D: 0.26%
• 1M: 2.79%
• YTD: 2.59%
• 6M: 3.06%
• 1Y: 3.83%
• 3Y*: 11.93%
• 5Y*: 5.93%
• 10Y*: 5.84%

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

PSHNX vs. JFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSHNX Penn Capital Short Duration High Income Fund	1.52%	7.72%	7.19%	8.72%	-2.26%	3.43%	0.88%	7.40%	0.61%	0.65%
JFR Nuveen Floating Rate Income Fund	2.59%	-0.68%	21.92%	16.61%	-15.15%	24.66%	-8.05%	19.65%	-11.69%	-1.76%

Correlation

The correlation between PSHNX and JFR is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jul 21, 2017	0.31

Return for Risk

PSHNX vs. JFR — Risk / Return Rank

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

PSHNX

PSHNX Risk / Return Rank: 96
PSHNX Sharpe Ratio Rank: 95
PSHNX Sortino Ratio Rank: 96
PSHNX Omega Ratio Rank: 95
PSHNX Calmar Ratio Rank: 95
PSHNX Martin Ratio Rank: 97

JFR

JFR Risk / Return Rank: 6
JFR Sharpe Ratio Rank: 6
JFR Sortino Ratio Rank: 6
JFR Omega Ratio Rank: 6
JFR Calmar Ratio Rank: 6
JFR Martin Ratio Rank: 5

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.

PSHNX vs. JFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Penn Capital Short Duration High Income Fund (PSHNX) and Nuveen Floating Rate Income Fund (JFR). 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.

	PSHNX	JFR	Difference
Sharpe ratio: Return per unit of total volatility	3.35	0.45	+2.90
Sortino ratio: Return per unit of downside risk	5.46	0.75	+4.71
Omega ratio: Gain probability vs. loss probability	1.79	1.09	+0.70
Calmar ratio: Return relative to maximum drawdown	5.56	0.45	+5.11
Martin ratio: Return relative to average drawdown	28.31	1.16	+27.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSHNX vs. JFR - Sharpe Ratio Comparison

The current PSHNX Sharpe Ratio is 3.35, which is higher than the JFR Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of PSHNX and JFR, 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

	PSHNX	JFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.35	0.45	+2.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.83	0.46	+1.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	0.28	+0.99

Drawdowns

PSHNX vs. JFR - Drawdown Comparison

The maximum PSHNX drawdown since its inception was -14.53%, smaller than the maximum JFR drawdown of -62.61%. Use the drawdown chart below to compare losses from any high point for PSHNX and JFR.

Drawdown Indicators

	PSHNX	JFR	Difference
Max Drawdown Largest peak-to-trough decline	-14.53%	-62.61%	+48.08%
Max Drawdown (1Y) Largest decline over 1 year	-1.14%	-8.62%	+7.48%
Max Drawdown (3Y) Largest decline over 3 years	-2.83%	-15.29%	+12.46%
Max Drawdown (5Y) Largest decline over 5 years	-6.02%	-20.40%	+14.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.71%	—
Current Drawdown Current decline from peak	-0.10%	-0.86%	+0.76%
Average Drawdown Average peak-to-trough decline	-0.89%	-8.79%	+7.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.22%	3.32%	-3.10%

Volatility

PSHNX vs. JFR - Volatility Comparison

The current volatility for Penn Capital Short Duration High Income Fund (PSHNX) is 0.69%, while Nuveen Floating Rate Income Fund (JFR) has a volatility of 1.71%. This indicates that PSHNX experiences smaller price fluctuations and is considered to be less risky than JFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSHNX	JFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	1.71%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	1.48%	7.07%	-5.59%
Volatility (1Y) Calculated over the trailing 1-year period	1.90%	8.52%	-6.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.65%	12.81%	-10.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.16%	16.65%	-13.49%

PSHNX vs. JFR - Expense Ratio Comparison

PSHNX has a 1.01% expense ratio, which is higher than JFR's 0.02% expense ratio.

Dividends

PSHNX vs. JFR - Dividend Comparison

PSHNX's dividend yield for the trailing twelve months is around 6.08%, less than JFR's 13.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JFR Nuveen Floating Rate Income Fund	13.11%	13.03%	11.43%	11.51%	9.61%	6.66%	7.19%	7.19%	7.95%	7.23%	6.38%	7.03%
PSHNX Penn Capital Short Duration High Income Fund	6.08%	6.27%	6.43%	4.95%	3.47%	3.17%	3.95%	3.65%	3.13%	1.46%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSHNX and JFR in my portfolio?

PSHNX and JFR have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSHNX or JFR?

JFR has higher volatility (1.71%) compared to PSHNX (0.69%). In terms of maximum drawdown, PSHNX dropped -14.53% vs JFR's -62.61%.

Which has better risk-adjusted returns?

PSHNX currently has the higher Sharpe Ratio (3.35 vs 0.45), 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.