VSLAX vs. SFHIX

Last updated Jun 5, 2026

VSLAX (Invesco Senior Loan Fund Class A) and SFHIX (Shenkman Capital Floating Rate High Income Fund) are both Bank Loan funds. Over the past 10 years, VSLAX returned 4.71%/yr vs 26.06%/yr for SFHIX. At a 0.50 correlation, their price movements are largely independent. VSLAX charges 1.70%/yr vs 0.54%/yr for SFHIX.

Performance

VSLAX vs. SFHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Senior Loan Fund Class A (VSLAX) and Shenkman Capital Floating Rate High Income Fund (SFHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSLAX achieves a -1.02% return, which is significantly lower than SFHIX's 1.36% return. Over the past 10 years, VSLAX has underperformed SFHIX with an annualized return of 4.71%, while SFHIX has yielded a comparatively higher 26.06% annualized return.

VSLAX

• 1D: 0.00%
• 1M: 0.26%
• YTD: -1.02%
• 6M: -0.74%
• 1Y: 1.29%
• 3Y*: 5.25%
• 5Y*: 3.87%
• 10Y*: 4.71%

SFHIX

• 1D: 0.00%
• 1M: 0.96%
• YTD: 1.36%
• 6M: 2.05%
• 1Y: 4.93%
• 3Y*: 7.51%
• 5Y*: 5.39%
• 10Y*: 26.06%

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

VSLAX vs. SFHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSLAX Invesco Senior Loan Fund Class A	-1.02%	4.45%	5.90%	10.63%	-3.01%	8.20%	1.04%	7.45%	-0.35%	5.37%
SFHIX Shenkman Capital Floating Rate High Income Fund	1.36%	5.70%	8.14%	11.50%	-0.95%	3.90%	1.77%	588.11%	0.53%	3.64%

Correlation

The correlation between VSLAX and SFHIX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.50

The correlation between VSLAX and SFHIX shifts across timeframes, from 0.33 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VSLAX vs. SFHIX — Risk / Return Rank

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

VSLAX

VSLAX Risk / Return Rank: 6
VSLAX Sharpe Ratio Rank: 6
VSLAX Sortino Ratio Rank: 7
VSLAX Omega Ratio Rank: 8
VSLAX Calmar Ratio Rank: 5
VSLAX Martin Ratio Rank: 5

SFHIX

SFHIX Risk / Return Rank: 70
SFHIX Sharpe Ratio Rank: 90
SFHIX Sortino Ratio Rank: 93
SFHIX Omega Ratio Rank: 97
SFHIX Calmar Ratio Rank: 35
SFHIX Martin Ratio Rank: 35

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.

VSLAX vs. SFHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Senior Loan Fund Class A (VSLAX) and Shenkman Capital Floating Rate High Income Fund (SFHIX). 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.

	VSLAX	SFHIX	Difference
Sharpe ratio: Return per unit of total volatility	0.39	2.99	-2.60
Sortino ratio: Return per unit of downside risk	0.80	4.82	-4.02
Omega ratio: Gain probability vs. loss probability	1.11	1.90	-0.79
Calmar ratio: Return relative to maximum drawdown	0.36	2.20	-1.84
Martin ratio: Return relative to average drawdown	0.77	7.79	-7.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSLAX vs. SFHIX - Sharpe Ratio Comparison

The current VSLAX Sharpe Ratio is 0.39, which is lower than the SFHIX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of VSLAX and SFHIX, 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

	VSLAX	SFHIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.39	2.99	-2.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	2.70	-1.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	0.56	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.52	+0.33

Drawdowns

VSLAX vs. SFHIX - Drawdown Comparison

The maximum VSLAX drawdown since its inception was -48.81%, which is greater than SFHIX's maximum drawdown of -19.94%. Use the drawdown chart below to compare losses from any high point for VSLAX and SFHIX.

Drawdown Indicators

	VSLAX	SFHIX	Difference
Max Drawdown Largest peak-to-trough decline	-48.81%	-19.94%	-28.87%
Max Drawdown (1Y) Largest decline over 1 year	-3.41%	-2.25%	-1.16%
Max Drawdown (3Y) Largest decline over 3 years	-3.86%	-2.25%	-1.61%
Max Drawdown (5Y) Largest decline over 5 years	-8.54%	-5.57%	-2.97%
Max Drawdown (10Y) Largest decline over 10 years	-23.54%	-19.94%	-3.60%
Current Drawdown Current decline from peak	-1.95%	0.00%	-1.95%
Average Drawdown Average peak-to-trough decline	-4.13%	-0.83%	-3.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.52%	0.63%	+0.89%

Volatility

VSLAX vs. SFHIX - Volatility Comparison

Invesco Senior Loan Fund Class A (VSLAX) has a higher volatility of 0.89% compared to Shenkman Capital Floating Rate High Income Fund (SFHIX) at 0.46%. This indicates that VSLAX's price experiences larger fluctuations and is considered to be riskier than SFHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSLAX	SFHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	0.46%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	2.12%	1.43%	+0.69%
Volatility (1Y) Calculated over the trailing 1-year period	3.15%	1.65%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.12%	2.00%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.77%	46.68%	-41.91%

VSLAX vs. SFHIX - Expense Ratio Comparison

VSLAX has a 1.70% expense ratio, which is higher than SFHIX's 0.54% expense ratio.

Dividends

VSLAX vs. SFHIX - Dividend Comparison

VSLAX's dividend yield for the trailing twelve months is around 5.18%, less than SFHIX's 7.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFHIX Shenkman Capital Floating Rate High Income Fund	7.61%	7.61%	8.07%	8.06%	4.99%	3.20%	3.93%	142.83%	5.03%	4.00%	4.22%	4.58%
VSLAX Invesco Senior Loan Fund Class A	5.18%	6.67%	7.68%	8.67%	8.75%	4.75%	4.22%	4.70%	4.93%	4.16%	5.17%	6.16%

Frequently Asked Questions

Can I hold both VSLAX and SFHIX in my portfolio?

VSLAX and SFHIX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSLAX or SFHIX?

VSLAX has higher volatility (0.89%) compared to SFHIX (0.46%). In terms of maximum drawdown, VSLAX dropped -48.81% vs SFHIX's -19.94%.

Which has better risk-adjusted returns?

SFHIX currently has the higher Sharpe Ratio (2.99 vs 0.39), 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.