RFRAX vs. FFRSX

Last updated Jun 4, 2026

RFRAX (Columbia Floating Rate Fund) and FFRSX (Federated Hermes Floating Rate Strat Inc Fund) are both Bank Loan funds. Over the past 10 years, RFRAX returned 4.34%/yr vs 3.38%/yr for FFRSX. A 0.60 correlation means they provide meaningful diversification when combined. RFRAX charges 1.02%/yr vs 0.68%/yr for FFRSX.

Performance

RFRAX vs. FFRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Floating Rate Fund (RFRAX) and Federated Hermes Floating Rate Strat Inc Fund (FFRSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RFRAX achieves a 1.46% return, which is significantly higher than FFRSX's 1.02% return. Over the past 10 years, RFRAX has outperformed FFRSX with an annualized return of 4.34%, while FFRSX has yielded a comparatively lower 3.38% annualized return.

RFRAX

• 1D: 0.00%
• 1M: 0.69%
• YTD: 1.46%
• 6M: 1.99%
• 1Y: 5.25%
• 3Y*: 7.00%
• 5Y*: 4.60%
• 10Y*: 4.34%

FFRSX

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.02%
• 6M: 1.72%
• 1Y: 4.70%
• 3Y*: 6.46%
• 5Y*: 3.33%
• 10Y*: 3.38%

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

RFRAX vs. FFRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RFRAX Columbia Floating Rate Fund	1.46%	5.83%	6.55%	11.01%	-2.90%	4.53%	1.03%	7.60%	0.08%	3.82%
FFRSX Federated Hermes Floating Rate Strat Inc Fund	1.02%	5.61%	6.71%	8.04%	-5.85%	3.73%	0.45%	6.71%	0.38%	3.54%

Correlation

The correlation between RFRAX and FFRSX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Dec 7, 2010	0.60

The correlation between RFRAX and FFRSX shifts across timeframes, from 0.44 (1 year) to 0.60 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

RFRAX vs. FFRSX — Risk / Return Rank

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

RFRAX

RFRAX Risk / Return Rank: 74
RFRAX Sharpe Ratio Rank: 63
RFRAX Sortino Ratio Rank: 95
RFRAX Omega Ratio Rank: 94
RFRAX Calmar Ratio Rank: 64
RFRAX Martin Ratio Rank: 52

FFRSX

FFRSX Risk / Return Rank: 84
FFRSX Sharpe Ratio Rank: 59
FFRSX Sortino Ratio Rank: 95
FFRSX Omega Ratio Rank: 97
FFRSX Calmar Ratio Rank: 88
FFRSX Martin Ratio Rank: 82

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.

RFRAX vs. FFRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Floating Rate Fund (RFRAX) and Federated Hermes Floating Rate Strat Inc Fund (FFRSX). 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.

	RFRAX	FFRSX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.26	+0.08
Sortino ratio: Return per unit of downside risk	5.18	5.13	+0.05
Omega ratio: Gain probability vs. loss probability	1.76	1.96	-0.20
Calmar ratio: Return relative to maximum drawdown	3.07	4.41	-1.34
Martin ratio: Return relative to average drawdown	10.65	15.38	-4.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RFRAX vs. FFRSX - Sharpe Ratio Comparison

The current RFRAX Sharpe Ratio is 2.34, which is comparable to the FFRSX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of RFRAX and FFRSX, 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

	RFRAX	FFRSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.26	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.75	1.37	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.14	1.04	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	1.22	-0.12

Drawdowns

RFRAX vs. FFRSX - Drawdown Comparison

The maximum RFRAX drawdown since its inception was -33.04%, which is greater than FFRSX's maximum drawdown of -17.13%. Use the drawdown chart below to compare losses from any high point for RFRAX and FFRSX.

Drawdown Indicators

	RFRAX	FFRSX	Difference
Max Drawdown Largest peak-to-trough decline	-33.04%	-17.13%	-15.91%
Max Drawdown (1Y) Largest decline over 1 year	-1.72%	-1.07%	-0.65%
Max Drawdown (3Y) Largest decline over 3 years	-2.57%	-1.45%	-1.12%
Max Drawdown (5Y) Largest decline over 5 years	-6.90%	-7.54%	+0.64%
Max Drawdown (10Y) Largest decline over 10 years	-21.74%	-17.13%	-4.61%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.26%	-0.91%	-1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	0.31%	+0.18%

Volatility

RFRAX vs. FFRSX - Volatility Comparison

Columbia Floating Rate Fund (RFRAX) and Federated Hermes Floating Rate Strat Inc Fund (FFRSX) have volatilities of 0.51% and 0.50%, 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

	RFRAX	FFRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	0.50%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	1.73%	1.48%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	2.25%	2.09%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.64%	2.44%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.82%	3.24%	+0.58%

RFRAX vs. FFRSX - Expense Ratio Comparison

RFRAX has a 1.02% expense ratio, which is higher than FFRSX's 0.68% expense ratio.

Dividends

RFRAX vs. FFRSX - Dividend Comparison

RFRAX's dividend yield for the trailing twelve months is around 6.51%, more than FFRSX's 5.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFRSX Federated Hermes Floating Rate Strat Inc Fund	5.80%	6.38%	6.95%	6.88%	4.15%	2.92%	3.37%	4.62%	4.41%	3.68%	3.76%	3.71%
RFRAX Columbia Floating Rate Fund	6.51%	6.81%	6.62%	7.60%	4.44%	3.08%	3.44%	4.82%	4.41%	3.52%	3.85%	4.10%

Frequently Asked Questions

Can I hold both RFRAX and FFRSX in my portfolio?

RFRAX and FFRSX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RFRAX or FFRSX?

RFRAX has higher volatility (0.51%) compared to FFRSX (0.50%). In terms of maximum drawdown, RFRAX dropped -33.04% vs FFRSX's -17.13%.

Which has better risk-adjusted returns?

RFRAX currently has the higher Sharpe Ratio (2.34 vs 2.26), 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.