VTTVX vs. BFRAX

Last updated Jun 4, 2026

VTTVX (Vanguard Target Retirement 2025 Fund) and BFRAX (BlackRock Floating Rate Income Fund) are both mutual funds - VTTVX is a Diversified Portfolio fund managed by Vanguard, while BFRAX is a Bank Loan fund managed by BlackRock. Over the past 10 years, VTTVX returned 7.99%/yr vs 4.32%/yr for BFRAX. At a 0.25 correlation, their price movements are largely independent. VTTVX charges 0.08%/yr vs 0.90%/yr for BFRAX.

Performance

VTTVX vs. BFRAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Retirement 2025 Fund (VTTVX) and BlackRock Floating Rate Income Fund (BFRAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTTVX achieves a 6.82% return, which is significantly higher than BFRAX's 0.75% return. Over the past 10 years, VTTVX has outperformed BFRAX with an annualized return of 7.99%, while BFRAX has yielded a comparatively lower 4.32% annualized return.

VTTVX

• 1D: 0.19%
• 1M: 3.00%
• YTD: 6.82%
• 6M: 7.29%
• 1Y: 16.99%
• 3Y*: 12.88%
• 5Y*: 6.14%
• 10Y*: 7.99%

BFRAX

• 1D: 0.00%
• 1M: 0.40%
• YTD: 0.75%
• 6M: 1.35%
• 1Y: 4.36%
• 3Y*: 6.84%
• 5Y*: 4.75%
• 10Y*: 4.32%

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

VTTVX vs. BFRAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTTVX Vanguard Target Retirement 2025 Fund	6.82%	14.63%	9.23%	14.76%	-15.57%	9.78%	13.31%	19.63%	-5.14%	13.68%
BFRAX BlackRock Floating Rate Income Fund	0.75%	5.35%	8.12%	9.94%	-1.43%	3.59%	2.39%	8.60%	-0.74%	3.10%

Correlation

The correlation between VTTVX and BFRAX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Oct 28, 2003	0.25

The correlation between VTTVX and BFRAX shifts across timeframes, from 0.25 (all time) to 0.39 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

VTTVX vs. BFRAX — Risk / Return Rank

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

VTTVX

VTTVX Risk / Return Rank: 71
VTTVX Sharpe Ratio Rank: 75
VTTVX Sortino Ratio Rank: 75
VTTVX Omega Ratio Rank: 73
VTTVX Calmar Ratio Rank: 64
VTTVX Martin Ratio Rank: 70

BFRAX

BFRAX Risk / Return Rank: 60
BFRAX Sharpe Ratio Rank: 45
BFRAX Sortino Ratio Rank: 86
BFRAX Omega Ratio Rank: 88
BFRAX Calmar Ratio Rank: 46
BFRAX Martin Ratio Rank: 36

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.

VTTVX vs. BFRAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2025 Fund (VTTVX) and BlackRock Floating Rate Income Fund (BFRAX). 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.

	VTTVX	BFRAX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.96	+0.56
Sortino ratio: Return per unit of downside risk	3.62	4.11	-0.49
Omega ratio: Gain probability vs. loss probability	1.48	1.61	-0.13
Calmar ratio: Return relative to maximum drawdown	3.09	2.57	+0.51
Martin ratio: Return relative to average drawdown	13.50	8.03	+5.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTTVX vs. BFRAX - Sharpe Ratio Comparison

The current VTTVX Sharpe Ratio is 2.52, which is comparable to the BFRAX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of VTTVX and BFRAX, 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

	VTTVX	BFRAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	1.96	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	1.71	-1.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	1.10	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.38	+0.19

Drawdowns

VTTVX vs. BFRAX - Drawdown Comparison

The maximum VTTVX drawdown since its inception was -46.03%, roughly equal to the maximum BFRAX drawdown of -44.69%. Use the drawdown chart below to compare losses from any high point for VTTVX and BFRAX.

Drawdown Indicators

	VTTVX	BFRAX	Difference
Max Drawdown Largest peak-to-trough decline	-46.03%	-44.69%	-1.34%
Max Drawdown (1Y) Largest decline over 1 year	-5.57%	-1.70%	-3.87%
Max Drawdown (3Y) Largest decline over 3 years	-7.84%	-2.81%	-5.03%
Max Drawdown (5Y) Largest decline over 5 years	-21.52%	-6.43%	-15.09%
Max Drawdown (10Y) Largest decline over 10 years	-22.51%	-20.61%	-1.90%
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-5.05%	-6.79%	+1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.27%	0.54%	+0.73%

Volatility

VTTVX vs. BFRAX - Volatility Comparison

Vanguard Target Retirement 2025 Fund (VTTVX) has a higher volatility of 2.24% compared to BlackRock Floating Rate Income Fund (BFRAX) at 0.61%. This indicates that VTTVX's price experiences larger fluctuations and is considered to be riskier than BFRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTTVX	BFRAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.24%	0.61%	+1.63%
Volatility (6M) Calculated over the trailing 6-month period	5.53%	1.66%	+3.87%
Volatility (1Y) Calculated over the trailing 1-year period	6.83%	2.24%	+4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.09%	2.79%	+6.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.94%	3.95%	+5.99%

VTTVX vs. BFRAX - Expense Ratio Comparison

VTTVX has a 0.08% expense ratio, which is lower than BFRAX's 0.90% expense ratio.

Dividends

VTTVX vs. BFRAX - Dividend Comparison

VTTVX's dividend yield for the trailing twelve months is around 6.91%, more than BFRAX's 6.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFRAX BlackRock Floating Rate Income Fund	6.45%	6.68%	8.00%	6.24%	4.09%	2.91%	3.81%	4.65%	4.58%	3.45%	3.90%	4.02%
VTTVX Vanguard Target Retirement 2025 Fund	6.91%	7.38%	7.63%	3.96%	2.96%	16.28%	4.35%	2.57%	3.14%	0.47%	2.68%	4.98%

Frequently Asked Questions

Can I hold both VTTVX and BFRAX in my portfolio?

VTTVX and BFRAX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTTVX or BFRAX?

VTTVX has higher volatility (2.24%) compared to BFRAX (0.61%). In terms of maximum drawdown, VTTVX dropped -46.03% vs BFRAX's -44.69%.

Which has better risk-adjusted returns?

VTTVX currently has the higher Sharpe Ratio (2.52 vs 1.96), 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.