PTIAX vs. FTSL

Last updated Jun 5, 2026

PTIAX (Performance Trust Strategic Bond Fund) and FTSL (First Trust Senior Loan Fund) are both funds - PTIAX is a Intermediate Core-Plus Bond fund managed by Performance Trust Asset Management, while FTSL is a High Yield Bonds fund actively managed by First Trust. Over the past 10 years, PTIAX returned 2.89%/yr vs 4.44%/yr for FTSL. At a 0.04 correlation, their price movements are largely independent. PTIAX charges 0.76%/yr vs 0.86%/yr for FTSL.

Performance

PTIAX vs. FTSL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Performance Trust Strategic Bond Fund (PTIAX) and First Trust Senior Loan Fund (FTSL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTIAX achieves a 0.70% return, which is significantly higher than FTSL's 0.65% return. Over the past 10 years, PTIAX has underperformed FTSL with an annualized return of 2.89%, while FTSL has yielded a comparatively higher 4.44% annualized return.

PTIAX

• 1D: -0.15%
• 1M: 0.27%
• YTD: 0.70%
• 6M: 0.73%
• 1Y: 5.54%
• 3Y*: 5.22%
• 5Y*: 0.98%
• 10Y*: 2.89%

FTSL

• 1D: 0.03%
• 1M: 0.20%
• YTD: 0.65%
• 6M: 0.98%
• 1Y: 4.56%
• 3Y*: 7.36%
• 5Y*: 5.02%
• 10Y*: 4.44%

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

PTIAX vs. FTSL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTIAX Performance Trust Strategic Bond Fund	0.70%	6.92%	3.52%	7.48%	-12.84%	1.15%	5.73%	7.36%	2.01%	7.08%
FTSL First Trust Senior Loan Fund	0.65%	5.98%	8.27%	11.58%	-2.50%	3.94%	2.99%	10.11%	-1.30%	2.59%

Correlation

The correlation between PTIAX and FTSL is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since May 3, 2013	0.04

The correlation between PTIAX and FTSL shifts across timeframes, from 0.04 (all time) to 0.21 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PTIAX vs. FTSL — Risk / Return Rank

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

PTIAX

PTIAX Risk / Return Rank: 29
PTIAX Sharpe Ratio Rank: 29
PTIAX Sortino Ratio Rank: 31
PTIAX Omega Ratio Rank: 27
PTIAX Calmar Ratio Rank: 31
PTIAX Martin Ratio Rank: 24

FTSL

FTSL Risk / Return Rank: 63
FTSL Sharpe Ratio Rank: 67
FTSL Sortino Ratio Rank: 76
FTSL Omega Ratio Rank: 85
FTSL Calmar Ratio Rank: 40
FTSL Martin Ratio Rank: 45

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.

PTIAX vs. FTSL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Performance Trust Strategic Bond Fund (PTIAX) and First Trust Senior Loan Fund (FTSL). 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.

	PTIAX	FTSL	Difference
Sharpe ratio: Return per unit of total volatility	1.55	2.17	-0.63
Sortino ratio: Return per unit of downside risk	2.32	3.37	-1.05
Omega ratio: Gain probability vs. loss probability	1.28	1.51	-0.23
Calmar ratio: Return relative to maximum drawdown	2.08	1.97	+0.12
Martin ratio: Return relative to average drawdown	5.94	7.30	-1.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTIAX vs. FTSL - Sharpe Ratio Comparison

The current PTIAX Sharpe Ratio is 1.55, which is comparable to the FTSL Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of PTIAX and FTSL, 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

	PTIAX	FTSL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	2.17	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	1.51	-1.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.86	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	0.85	+0.37

Drawdowns

PTIAX vs. FTSL - Drawdown Comparison

The maximum PTIAX drawdown since its inception was -16.90%, smaller than the maximum FTSL drawdown of -22.67%. Use the drawdown chart below to compare losses from any high point for PTIAX and FTSL.

Drawdown Indicators

	PTIAX	FTSL	Difference
Max Drawdown Largest peak-to-trough decline	-16.90%	-22.67%	+5.77%
Max Drawdown (1Y) Largest decline over 1 year	-2.99%	-2.33%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-4.96%	-2.66%	-2.30%
Max Drawdown (5Y) Largest decline over 5 years	-16.90%	-6.96%	-9.94%
Max Drawdown (10Y) Largest decline over 10 years	-16.90%	-22.67%	+5.77%
Current Drawdown Current decline from peak	-1.54%	0.00%	-1.54%
Average Drawdown Average peak-to-trough decline	-2.44%	-0.76%	-1.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	0.63%	+0.42%

Volatility

PTIAX vs. FTSL - Volatility Comparison

Performance Trust Strategic Bond Fund (PTIAX) has a higher volatility of 1.40% compared to First Trust Senior Loan Fund (FTSL) at 0.36%. This indicates that PTIAX's price experiences larger fluctuations and is considered to be riskier than FTSL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTIAX	FTSL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	0.36%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	1.95%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	4.03%	2.11%	+1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.97%	3.35%	+1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.04%	5.18%	-1.14%

PTIAX vs. FTSL - Expense Ratio Comparison

PTIAX has a 0.76% expense ratio, which is lower than FTSL's 0.86% expense ratio.

Dividends

PTIAX vs. FTSL - Dividend Comparison

PTIAX's dividend yield for the trailing twelve months is around 4.77%, less than FTSL's 6.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTSL First Trust Senior Loan Fund	6.46%	6.59%	7.56%	7.59%	4.77%	3.17%	3.48%	4.44%	4.29%	3.64%	3.70%	3.95%
PTIAX Performance Trust Strategic Bond Fund	4.77%	4.68%	4.44%	4.03%	3.96%	3.01%	3.86%	4.11%	4.47%	5.51%	5.49%	4.87%

Frequently Asked Questions

Can I hold both PTIAX and FTSL in my portfolio?

PTIAX and FTSL have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTIAX or FTSL?

PTIAX has higher volatility (1.40%) compared to FTSL (0.36%). In terms of maximum drawdown, PTIAX dropped -16.90% vs FTSL's -22.67%.

Which has better risk-adjusted returns?

FTSL currently has the higher Sharpe Ratio (2.17 vs 1.55), 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.