VSLCX vs. FRFZX

Last updated Jul 16, 2026

VSLCX (Invesco Senior Loan Fund Class C) and FRFZX (PGIM Floating Rate Income Fund) are both Bank Loan funds. Over the past 10 years, VSLCX returned 3.84%/yr vs 5.35%/yr for FRFZX. A 0.58 correlation means they provide meaningful diversification when combined. VSLCX charges 2.45%/yr vs 0.70%/yr for FRFZX.

Performance

VSLCX vs. FRFZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Senior Loan Fund Class C (VSLCX) and PGIM Floating Rate Income Fund (FRFZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSLCX achieves a -1.19% return, which is significantly lower than FRFZX's 2.82% return. Over the past 10 years, VSLCX has underperformed FRFZX with an annualized return of 3.84%, while FRFZX has yielded a comparatively higher 5.35% annualized return.

VSLCX

• 1D: 0.00%
• 1M: 0.20%
• 6M: -1.19%
• YTD: -1.19%
• 1Y: -0.13%
• 3Y*: 4.29%
• 5Y*: 3.30%
• 10Y*: 3.84%

FRFZX

• 1D: 0.00%
• 1M: 0.63%
• 6M: 2.59%
• YTD: 2.82%
• 1Y: 5.44%
• 3Y*: 8.08%
• 5Y*: 5.85%
• 10Y*: 5.35%

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

VSLCX vs. FRFZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSLCX Invesco Senior Loan Fund Class C	-1.19%	3.98%	6.05%	9.82%	-3.89%	7.39%	0.29%	6.81%	-1.16%	4.59%
FRFZX PGIM Floating Rate Income Fund	2.82%	5.66%	9.45%	14.11%	-3.56%	5.46%	4.62%	7.47%	-0.13%	4.48%

Correlation

The correlation between VSLCX and FRFZX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011	0.58

Over the past year, the correlation between VSLCX and FRFZX has dropped to 0.35 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

Return for Risk

VSLCX vs. FRFZX — Risk / Return Rank

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

VSLCX

VSLCX Risk / Return Rank: 3
VSLCX Sharpe Ratio Rank: 3
VSLCX Sortino Ratio Rank: 3
VSLCX Omega Ratio Rank: 3
VSLCX Calmar Ratio Rank: 3
VSLCX Martin Ratio Rank: 3

FRFZX

FRFZX Risk / Return Rank: 96
FRFZX Sharpe Ratio Rank: 89
FRFZX Sortino Ratio Rank: 98
FRFZX Omega Ratio Rank: 97
FRFZX Calmar Ratio Rank: 98
FRFZX Martin Ratio Rank: 97

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.

VSLCX vs. FRFZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Senior Loan Fund Class C (VSLCX) and PGIM Floating Rate Income Fund (FRFZX). 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.

	VSLCX	FRFZX	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	2.40	-2.44
Sortino ratio: Return per unit of downside risk	-0.05	5.75	-5.80
Omega ratio: Gain probability vs. loss probability	0.99	1.86	-0.87
Calmar ratio: Return relative to maximum drawdown	-0.04	6.42	-6.47
Martin ratio: Return relative to average drawdown	-0.08	19.71	-19.79

VSLCX vs. FRFZX - Sharpe Ratio Comparison

The current VSLCX Sharpe Ratio is -0.05, which is lower than the FRFZX Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of VSLCX and FRFZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VSLCX vs. FRFZX - Drawdown Comparison

The maximum VSLCX drawdown since its inception was -48.59%, which is greater than FRFZX's maximum drawdown of -21.95%. Use the drawdown chart below to compare losses from any high point for VSLCX and FRFZX.

Drawdown Indicators

	VSLCX	FRFZX	Difference
Max Drawdown Largest peak-to-trough decline	-48.59%	-21.95%	-26.64%
Max Drawdown (1Y) Largest decline over 1 year	-3.45%	-0.85%	-2.60%
Max Drawdown (3Y) Largest decline over 3 years	-3.97%	-3.12%	-0.85%
Max Drawdown (5Y) Largest decline over 5 years	-8.82%	-7.85%	-0.97%
Max Drawdown (10Y) Largest decline over 10 years	-23.56%	-21.95%	-1.61%
Current Drawdown Current decline from peak	-2.17%	0.00%	-2.17%
Average Drawdown Average peak-to-trough decline	-4.30%	-0.91%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	0.28%	+1.53%

Volatility

VSLCX vs. FRFZX - Volatility Comparison

Invesco Senior Loan Fund Class C (VSLCX) has a higher volatility of 1.10% compared to PGIM Floating Rate Income Fund (FRFZX) at 0.57%. This indicates that VSLCX's price experiences larger fluctuations and is considered to be riskier than FRFZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSLCX	FRFZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	0.57%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	2.27%	1.59%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	3.14%	2.28%	+0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.05%	3.10%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.68%	3.97%	+0.71%

VSLCX vs. FRFZX - Expense Ratio Comparison

VSLCX has a 2.45% expense ratio, which is higher than FRFZX's 0.70% expense ratio.

Dividends

VSLCX vs. FRFZX - Dividend Comparison

VSLCX's dividend yield for the trailing twelve months is around 4.64%, less than FRFZX's 7.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRFZX PGIM Floating Rate Income Fund	7.32%	7.65%	8.76%	8.86%	6.41%	3.33%	5.35%	5.42%	5.06%	4.90%	4.34%	3.97%
VSLCX Invesco Senior Loan Fund Class C	4.64%	6.03%	7.82%	7.94%	7.95%	4.00%	3.50%	3.95%	4.07%	3.42%	4.46%	5.34%

Frequently Asked Questions

Can I hold both VSLCX and FRFZX in my portfolio?

VSLCX and FRFZX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSLCX or FRFZX?

VSLCX has higher volatility (1.10%) compared to FRFZX (0.57%). In terms of maximum drawdown, VSLCX dropped -48.59% vs FRFZX's -21.95%.

Which has better risk-adjusted returns?

FRFZX currently has the higher Sharpe Ratio (2.40 vs -0.05), 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.