SFHIX vs. AFRAX
SFHIX (Shenkman Capital Floating Rate High Income Fund) and AFRAX (Invesco Floating Rate ESG Fund) are both Bank Loan funds. Over the past 10 years, SFHIX returned 26.03%/yr vs 4.34%/yr for AFRAX. Their 0.49 correlation means their historical movements had little consistent relationship. SFHIX charges 0.54%/yr vs 1.04%/yr for AFRAX.
Performance
SFHIX vs. AFRAX - Performance Comparison
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Returns By Period
In the year-to-date period, SFHIX achieves a 2.24% return, which is significantly higher than AFRAX's 0.73% return. Over the past 10 years, SFHIX has outperformed AFRAX with an annualized return of 26.03%, while AFRAX has yielded a comparatively lower 4.34% annualized return.
SFHIX
- 1D
- 0.00%
- 1M
- 0.45%
- 6M
- 2.58%
- YTD
- 2.24%
- 1Y
- 4.03%
- 3Y*
- 6.82%
- 5Y*
- 5.55%
- 10Y*
- 26.03%
- ALL TIME*
- 22.56%
AFRAX
- 1D
- 0.16%
- 1M
- 0.00%
- 6M
- 1.06%
- YTD
- 0.73%
- 1Y
- 2.11%
- 3Y*
- 5.20%
- 5Y*
- 4.41%
- 10Y*
- 4.34%
- ALL TIME*
- 2.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SFHIX vs. AFRAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SFHIX Shenkman Capital Floating Rate High Income Fund | 2.24% | 5.70% | 8.14% | 11.50% | -0.95% | 3.90% | 1.77% | 588.11% | 0.53% | 3.64% |
AFRAX Invesco Floating Rate ESG Fund | 0.73% | 4.57% | 6.80% | 10.86% | -2.26% | 6.24% | 1.53% | 7.25% | -0.19% | 3.99% |
Correlation
The correlation between SFHIX and AFRAX is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.27 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.49 |
Over the past year, the correlation between SFHIX and AFRAX has dropped to 0.27 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
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Return for Risk
SFHIX vs. AFRAX — Risk / Return Rank
SFHIX
AFRAX
SFHIX vs. AFRAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Shenkman Capital Floating Rate High Income Fund (SFHIX) and Invesco Floating Rate ESG Fund (AFRAX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SFHIX | AFRAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.36 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 2.21 | -0.42 |
| Martin ratioReturn relative to average drawdown | 6.34 | 6.36 | -0.02 |
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Drawdowns
SFHIX vs. AFRAX - Drawdown Comparison
The maximum SFHIX drawdown since its inception was -19.94%, smaller than the maximum AFRAX drawdown of -37.60%. Use the drawdown chart below to compare losses from any high point for SFHIX and AFRAX.
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Drawdown Indicators
| SFHIX | AFRAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.94% | -37.60% | +17.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.25% | -1.41% | -0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -2.25% | -2.62% | +0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -5.57% | -6.29% | +0.72% |
Max Drawdown (10Y)Largest decline over 10 years | -19.94% | -18.91% | -1.03% |
Current DrawdownCurrent decline from peak | 0.00% | -0.16% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -0.82% | -4.37% | +3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.49% | +0.15% |
Volatility
SFHIX vs. AFRAX - Volatility Comparison
The current volatility for Shenkman Capital Floating Rate High Income Fund (SFHIX) is 0.29%, while Invesco Floating Rate ESG Fund (AFRAX) has a volatility of 0.40%. This indicates that SFHIX experiences smaller price fluctuations and is considered to be less risky than AFRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFHIX | AFRAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.29% | 0.40% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.48% | 2.05% | -0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.70% | 2.83% | -1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.02% | 3.24% | -1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.68% | 3.73% | +42.95% |
SFHIX vs. AFRAX - Expense Ratio Comparison
SFHIX has a 0.54% expense ratio, which is lower than AFRAX's 1.04% expense ratio.
Dividends
SFHIX vs. AFRAX - Dividend Comparison
SFHIX's dividend yield for the trailing twelve months is around 6.90%, less than AFRAX's 7.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFRAX Invesco Floating Rate ESG Fund | 7.04% | 8.06% | 8.39% | 7.85% | 7.03% | 3.84% | 4.13% | 5.52% | 4.59% | 4.04% | 4.01% | 5.23% |
SFHIX Shenkman Capital Floating Rate High Income Fund | 6.90% | 7.61% | 8.07% | 8.06% | 4.99% | 3.20% | 3.93% | 142.83% | 5.03% | 4.00% | 4.22% | 4.58% |
Frequently Asked Questions
SFHIX and AFRAX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AFRAX has higher volatility (0.40%) compared to SFHIX (0.29%). In terms of maximum drawdown, SFHIX dropped -19.94% vs AFRAX's -37.60%.
SFHIX currently has the higher Sharpe Ratio (2.38 vs 1.10), 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.
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