RCRIX vs. FRA

Last updated Jun 3, 2026

RCRIX (RiverPark Floating Rate CMBS Fund) and FRA (BlackRock Floating Rate Income Strategies Fund Inc) are both Bank Loan funds. Over the past 5 years, RCRIX returned 5.32%/yr vs 6.92%/yr for FRA. At a 0.06 correlation, their price movements are largely independent. RCRIX charges 0.85%/yr vs 2.17%/yr for FRA.

Performance

RCRIX vs. FRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverPark Floating Rate CMBS Fund (RCRIX) and BlackRock Floating Rate Income Strategies Fund Inc (FRA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RCRIX achieves a 1.91% return, which is significantly higher than FRA's -0.66% return.

RCRIX

• 1D: 0.00%
• 1M: 0.47%
• YTD: 1.91%
• 6M: 2.31%
• 1Y: 5.18%
• 3Y*: 7.58%
• 5Y*: 5.32%
• 10Y*: —

FRA

• 1D: -0.09%
• 1M: -0.15%
• YTD: -0.66%
• 6M: 0.99%
• 1Y: -1.83%
• 3Y*: 9.60%
• 5Y*: 6.92%
• 10Y*: 6.51%

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

RCRIX vs. FRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RCRIX RiverPark Floating Rate CMBS Fund	1.91%	5.56%	10.01%	9.85%	-0.72%	2.81%	-8.51%	4.46%	59.17%	3.09%
FRA BlackRock Floating Rate Income Strategies Fund Inc	-0.66%	-3.75%	21.56%	25.46%	-10.59%	17.81%	-2.38%	20.82%	-8.27%	-0.01%

Correlation

The correlation between RCRIX and FRA is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jun 13, 2017	0.06

Return for Risk

RCRIX vs. FRA — Risk / Return Rank

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

RCRIX

RCRIX Risk / Return Rank: 100
RCRIX Sharpe Ratio Rank: 100
RCRIX Sortino Ratio Rank: 100
RCRIX Omega Ratio Rank: 100
RCRIX Calmar Ratio Rank: 100
RCRIX Martin Ratio Rank: 100

FRA

FRA Risk / Return Rank: 2
FRA Sharpe Ratio Rank: 2
FRA Sortino Ratio Rank: 2
FRA Omega Ratio Rank: 2
FRA Calmar Ratio Rank: 2
FRA Martin Ratio Rank: 2

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.

RCRIX vs. FRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverPark Floating Rate CMBS Fund (RCRIX) and BlackRock Floating Rate Income Strategies Fund Inc (FRA). 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.

	RCRIX	FRA	Difference
Sharpe ratio Return per unit of total volatility	6.73	-0.18	+6.92
Sortino ratio Return per unit of downside risk	19.90	-0.20	+20.10
Omega ratio Gain probability vs. loss probability	8.37	0.98	+7.40
Calmar ratio Return relative to maximum drawdown	28.07	-0.09	+28.16
Martin ratio Return relative to average drawdown	175.33	-0.19	+175.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RCRIX vs. FRA - Sharpe Ratio Comparison

The current RCRIX Sharpe Ratio is 6.73, which is higher than the FRA Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of RCRIX and FRA, 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

	RCRIX	FRA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.73	-0.18	+6.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	3.35	0.54	+2.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.32	+0.76

Drawdowns

RCRIX vs. FRA - Drawdown Comparison

The maximum RCRIX drawdown since its inception was -30.00%, smaller than the maximum FRA drawdown of -51.43%. Use the drawdown chart below to compare losses from any high point for RCRIX and FRA.

Drawdown Indicators

	RCRIX	FRA	Difference
Max Drawdown Largest peak-to-trough decline	-30.00%	-51.43%	+21.43%
Max Drawdown (1Y) Largest decline over 1 year	-0.19%	-15.47%	+15.28%
Max Drawdown (3Y) Largest decline over 3 years	-1.93%	-18.77%	+16.84%
Max Drawdown (5Y) Largest decline over 5 years	-3.75%	-18.77%	+15.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.80%	—
Current Drawdown Current decline from peak	0.00%	-9.13%	+9.13%
Average Drawdown Average peak-to-trough decline	-3.01%	-7.21%	+4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	7.46%	-7.43%

Volatility

RCRIX vs. FRA - Volatility Comparison

The current volatility for RiverPark Floating Rate CMBS Fund (RCRIX) is 0.21%, while BlackRock Floating Rate Income Strategies Fund Inc (FRA) has a volatility of 2.17%. This indicates that RCRIX experiences smaller price fluctuations and is considered to be less risky than FRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RCRIX	FRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.21%	2.17%	-1.96%
Volatility (6M) Calculated over the trailing 6-month period	0.60%	8.37%	-7.77%
Volatility (1Y) Calculated over the trailing 1-year period	0.77%	9.94%	-9.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.60%	12.90%	-11.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.93%	15.53%	-7.60%

RCRIX vs. FRA - Expense Ratio Comparison

RCRIX has a 0.85% expense ratio, which is lower than FRA's 2.17% expense ratio.

Dividends

RCRIX vs. FRA - Dividend Comparison

RCRIX's dividend yield for the trailing twelve months is around 4.95%, less than FRA's 13.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRA BlackRock Floating Rate Income Strategies Fund Inc	13.41%	12.62%	10.81%	10.44%	6.88%	5.96%	7.61%	6.44%	6.90%	5.31%	5.65%	6.17%
RCRIX RiverPark Floating Rate CMBS Fund	4.95%	5.30%	6.85%	7.90%	3.80%	2.34%	3.16%	3.36%	49.16%	3.64%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RCRIX and FRA in my portfolio?

RCRIX and FRA have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RCRIX or FRA?

FRA has higher volatility (2.17%) compared to RCRIX (0.21%). In terms of maximum drawdown, RCRIX dropped -30.00% vs FRA's -51.43%.

Which has better risk-adjusted returns?

RCRIX currently has the higher Sharpe Ratio (6.73 vs -0.18), 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.