EFT vs FRA: Correlation
Eaton Vance Floating Rate Income Trust (EFT) and Blackrock Floating Rate Income Strategies Fund Inc (FRA) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFT and FRA?
On 3 years of weekly data the EFT/FRA correlation comes out at 0.73, strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 93.3 %².
FRA is one of the assets that tracks EFT most closely: it ranks #3 out of the 14 assets we track against EFT. Their 12-month results are close: -4.8% for EFT against -6.5% for FRA.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
EFT vs FRA: side by side
| EFT (Eaton Vance Floating Rate Income Trust) | FRA (Blackrock Floating Rate Income Strategies Fund Inc) | |
|---|---|---|
| 1-year return | -4.8% | -6.5% |
| 5-year return | +13.9% | +37.4% |
| Volatility (ann.) | 10.9% | 11.6% |
| Beta vs S&P 500 | 0.49 | 0.44 |
| Max drawdown (3Y) | -17.5% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 42.4 | 15.6 |
| Dividend yield | 9.41% | 13.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFT | FRA |
|---|---|---|
| 2022 | -19.7% | -10.6% |
| 2023 | +27.1% | +25.5% |
| 2024 | +13.2% | +21.6% |
| 2025 | -3.8% | -3.7% |
| 2026 | -1.6% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFT and FRA good diversifiers for each other?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EFT and FRA?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.73 over the last year and 0.71 over 5 years.
Is FRA a good diversifier for EFT?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eft-vs-fra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eft-vs-fra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EFT correlations · FRA correlations
