TRFK vs. FRA

Last updated Jun 3, 2026

TRFK (Pacer Data and Digital Revolution ETF) and FRA (BlackRock Floating Rate Income Strategies Fund Inc) are both funds - TRFK is a Technology Equities fund tracking the Pacer Data Transmission and Communication Revolution Index - Benchmark TR Net, while FRA is a Bank Loan fund managed by BlackRock. Over the past 3 years, TRFK returned 54.19%/yr vs 9.60%/yr for FRA. At a 0.33 correlation, their price movements are largely independent. TRFK charges 0.60%/yr vs 2.17%/yr for FRA.

Performance

TRFK vs. FRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Data and Digital Revolution ETF (TRFK) 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, TRFK achieves a 70.05% return, which is significantly higher than FRA's -0.66% return.

TRFK

• 1D: 2.09%
• 1M: 31.48%
• YTD: 70.05%
• 6M: 63.28%
• 1Y: 108.44%
• 3Y*: 54.19%
• 5Y*: —
• 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)

TRFK vs. FRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TRFK Pacer Data and Digital Revolution ETF	70.05%	26.81%	38.30%	66.63%	-10.61%
FRA BlackRock Floating Rate Income Strategies Fund Inc	-0.66%	-3.75%	21.56%	25.46%	-0.35%

Correlation

The correlation between TRFK and FRA is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jun 10, 2022	0.33

Return for Risk

TRFK vs. FRA — Risk / Return Rank

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

TRFK

TRFK Risk / Return Rank: 88
TRFK Sharpe Ratio Rank: 95
TRFK Sortino Ratio Rank: 92
TRFK Omega Ratio Rank: 89
TRFK Calmar Ratio Rank: 90
TRFK Martin Ratio Rank: 72

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.

TRFK vs. FRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Data and Digital Revolution ETF (TRFK) 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.

	TRFK	FRA	Difference
Sharpe ratio Return per unit of total volatility	3.94	-0.18	+4.12
Sortino ratio Return per unit of downside risk	4.51	-0.20	+4.71
Omega ratio Gain probability vs. loss probability	1.57	0.98	+0.60
Calmar ratio Return relative to maximum drawdown	5.69	-0.09	+5.78
Martin ratio Return relative to average drawdown	13.68	-0.19	+13.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRFK vs. FRA - Sharpe Ratio Comparison

The current TRFK Sharpe Ratio is 3.94, which is higher than the FRA Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of TRFK 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

	TRFK	FRA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.94	-0.18	+4.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	0.32	+1.26

Drawdowns

TRFK vs. FRA - Drawdown Comparison

The maximum TRFK drawdown since its inception was -29.06%, smaller than the maximum FRA drawdown of -51.43%. Use the drawdown chart below to compare losses from any high point for TRFK and FRA.

Drawdown Indicators

	TRFK	FRA	Difference
Max Drawdown Largest peak-to-trough decline	-29.06%	-51.43%	+22.37%
Max Drawdown (1Y) Largest decline over 1 year	-19.56%	-15.47%	-4.09%
Max Drawdown (3Y) Largest decline over 3 years	-29.06%	-18.77%	-10.29%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.77%	—
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	-6.05%	-7.21%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.13%	7.46%	+0.67%

Volatility

TRFK vs. FRA - Volatility Comparison

Pacer Data and Digital Revolution ETF (TRFK) has a higher volatility of 10.00% compared to BlackRock Floating Rate Income Strategies Fund Inc (FRA) at 2.17%. This indicates that TRFK's price experiences larger fluctuations and is considered to be riskier than FRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRFK	FRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.00%	2.17%	+7.83%
Volatility (6M) Calculated over the trailing 6-month period	21.76%	8.37%	+13.39%
Volatility (1Y) Calculated over the trailing 1-year period	27.71%	9.94%	+17.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.93%	12.90%	+16.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.93%	15.53%	+13.40%

TRFK vs. FRA - Expense Ratio Comparison

TRFK has a 0.60% expense ratio, which is lower than FRA's 2.17% expense ratio.

Dividends

TRFK vs. FRA - Dividend Comparison

TRFK's dividend yield for the trailing twelve months is around 0.01%, 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%
TRFK Pacer Data and Digital Revolution ETF	0.01%	0.01%	0.40%	0.20%	0.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRFK and FRA in my portfolio?

TRFK and FRA have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRFK or FRA?

TRFK has higher volatility (10.00%) compared to FRA (2.17%). In terms of maximum drawdown, TRFK dropped -29.06% vs FRA's -51.43%.

Which has better risk-adjusted returns?

TRFK currently has the higher Sharpe Ratio (3.94 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.