PennantPark Floating Rate Capital (PFLT)
Market Price (3/10/2026): $8.07 | Market Cap: $800.7 MilSector: Financials | Industry: Asset Management & Custody Banks
PennantPark Floating Rate Capital (PFLT)
Market Price (3/10/2026): $8.07Market Cap: $800.7 MilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 19%, Dividend Yield is 15%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 15% | Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -65% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 192% |
| Low stock price volatilityVol 12M is 23% | Expensive valuation multiplesP/SPrice/Sales ratio is 17x | |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets. Themes include Private Credit. | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -59%, Rev Chg QQuarterly Revenue Change % is -105% | |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -717%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -717% | ||
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 51% | ||
| Key risksPFLT key risks include [1] heightened credit defaults from its portfolio of highly leveraged, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 19%, Dividend Yield is 15%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 15% |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets. Themes include Private Credit. |
| Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -65% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 192% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 17x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -59%, Rev Chg QQuarterly Revenue Change % is -105% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -717%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -717% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 51% |
| Key risksPFLT key risks include [1] heightened credit defaults from its portfolio of highly leveraged, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. PennantPark Floating Rate Capital (PFLT) reported an unsustainably high dividend payout ratio, raising concerns about dividend coverage and financial stability. As of early March 2026, the company's dividend payout ratio was reported at 361.76% or 346% of earnings, despite maintaining a high annualized dividend yield of approximately 14.8% to 15.07%. This significantly elevated ratio indicates that the company is paying out substantially more in dividends than it earns, which can be a red flag for investors regarding the long-term sustainability of its dividend. This concern is part of a broader trend in the Business Development Company (BDC) sector, where more than half of BDCs spent more on dividends than cash generated from operations in the 12 months ending September 30, 2025.
2. The company missed analyst earnings estimates and reported a net loss for the first fiscal quarter of 2026. On February 10, 2026, PFLT announced its financial results for the quarter ended December 31, 2025, reporting earnings per share (EPS) of $0.27, which missed the analysts' consensus estimate of $0.30 by 10.00%. Additionally, the company reported a net loss of $3.6 million for the quarter, largely attributed to investment costs. While revenue for the quarter at $70.1 million did exceed analyst expectations, the earnings miss and net loss appear to have overshadowed this revenue outperformance, negatively impacting investor sentiment.
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Stock Movement Drivers
Fundamental Drivers
The -8.9% change in PFLT stock from 11/30/2025 to 3/9/2026 was primarily driven by a -39.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 11302025 | 3092026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.87 | 8.08 | -8.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 78 | 47 | -39.7% |
| Net Income Margin (%) | 84.7% | 72.8% | -14.0% |
| P/E Multiple | 13.3 | 23.3 | 75.4% |
| Shares Outstanding (Mil) | 99 | 99 | 0.1% |
| Cumulative Contribution | -8.9% |
Market Drivers
11/30/2025 to 3/9/2026| Return | Correlation | |
|---|---|---|
| PFLT | -8.9% | |
| Market (SPY) | -0.7% | 44.7% |
| Sector (XLF) | -5.6% | 56.2% |
Fundamental Drivers
The -15.9% change in PFLT stock from 8/31/2025 to 3/9/2026 was primarily driven by a -47.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 8312025 | 3092026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.61 | 8.08 | -15.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 90 | 47 | -47.4% |
| Net Income Margin (%) | 78.0% | 72.8% | -6.6% |
| P/E Multiple | 13.6 | 23.3 | 71.3% |
| Shares Outstanding (Mil) | 99 | 99 | 0.0% |
| Cumulative Contribution | -15.9% |
Market Drivers
8/31/2025 to 3/9/2026| Return | Correlation | |
|---|---|---|
| PFLT | -15.9% | |
| Market (SPY) | 5.4% | 45.5% |
| Sector (XLF) | -6.5% | 54.4% |
Fundamental Drivers
The -19.2% change in PFLT stock from 2/28/2025 to 3/9/2026 was primarily driven by a -58.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282025 | 3092026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.00 | 8.08 | -19.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 114 | 47 | -58.5% |
| Net Income Margin (%) | 85.7% | 72.8% | -15.0% |
| P/E Multiple | 8.4 | 23.3 | 178.4% |
| Shares Outstanding (Mil) | 82 | 99 | -17.7% |
| Cumulative Contribution | -19.2% |
Market Drivers
2/28/2025 to 3/9/2026| Return | Correlation | |
|---|---|---|
| PFLT | -19.2% | |
| Market (SPY) | 15.2% | 59.5% |
| Sector (XLF) | -2.5% | 63.4% |
Fundamental Drivers
The 7.0% change in PFLT stock from 2/28/2023 to 3/9/2026 was primarily driven by a -54.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 2282023 | 3092026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.55 | 8.08 | 7.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | -5 | 47 | -1093.1% |
| P/S Multiple | -71.9 | 16.9 | -123.6% |
| Shares Outstanding (Mil) | 45 | 99 | -54.3% |
| Cumulative Contribution | 7.0% |
Market Drivers
2/28/2023 to 3/9/2026| Return | Correlation | |
|---|---|---|
| PFLT | 7.0% | |
| Market (SPY) | 77.5% | 53.4% |
| Sector (XLF) | 47.3% | 57.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PFLT Return | 33% | -6% | 23% | 1% | -4% | -10% | 33% |
| Peers Return | 31% | -12% | 34% | 20% | -5% | -14% | 52% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -2% | 79% |
Monthly Win Rates [3] | |||||||
| PFLT Win Rate | 75% | 50% | 50% | 67% | 67% | 33% | |
| Peers Win Rate | 80% | 45% | 70% | 72% | 53% | 27% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| PFLT Max Drawdown | -1% | -20% | -7% | -8% | -15% | -10% | |
| Peers Max Drawdown | -2% | -21% | -1% | -2% | -16% | -16% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -2% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ARCC, BXSL, OBDC, TSLX, FSK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/9/2026 (YTD)
How Low Can It Go
| Event | PFLT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -32.4% | -25.4% |
| % Gain to Breakeven | 47.9% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -70.2% | -33.9% |
| % Gain to Breakeven | 235.7% | 51.3% |
| Time to Breakeven | 362 days | 148 days |
| 2018 Correction | ||
| % Loss | -20.6% | -19.8% |
| % Gain to Breakeven | 25.9% | 24.7% |
| Time to Breakeven | 1,216 days | 120 days |
Compare to ARCC, BXSL, OBDC, TSLX, FSK
In The Past
PennantPark Floating Rate Capital's stock fell -32.4% during the 2022 Inflation Shock from a high on 4/19/2022. A -32.4% loss requires a 47.9% gain to breakeven.
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About PennantPark Floating Rate Capital (PFLT)
AI Analysis | Feedback
PFLT is like a publicly traded private credit fund, similar to some investment strategies offered by firms like Apollo Global Management, but focused on lending to mid-sized businesses.
Think of it as the commercial loan department of a major bank like Wells Fargo, but as a standalone, publicly traded company specializing in floating-rate loans to private middle-market businesses.
AI Analysis | Feedback
- Senior Secured Debt Investments: PennantPark Floating Rate Capital primarily provides capital through floating-rate senior secured loans to U.S. middle-market companies, which are debt instruments collateralized by assets and hold the highest repayment priority.
- Subordinated Debt Investments: The company also offers subordinated debt, which is a type of junior debt often combined with equity features.
- Equity Investments: PennantPark Floating Rate Capital makes direct equity investments in private companies, typically alongside its debt financing.
AI Analysis | Feedback
PennantPark Floating Rate Capital (PFLT) is a Business Development Company (BDC). Its primary business model involves providing debt and equity financing to middle-market companies, predominantly private entities, in the United States. Therefore, PFLT's "major customers" are the companies it lends to and invests in as part of its investment portfolio.
Based on PFLT's latest available financial filings (Form 10-Q for the quarter ended March 31, 2024), its portfolio consists of investments in a diverse range of private companies across various sectors. As these are generally private entities, they do not have public stock symbols.
Some of PFLT's major portfolio companies (and thus its largest "customers" or borrowers) by fair value as of March 31, 2024, include:
- Blue River Petcare, LLC (Recipient of a First Lien Senior Secured Loan)
- Care Advantage, Inc. (Recipient of a First Lien Senior Secured Loan)
- Proactive Medical Products, LLC (Recipient of a First Lien Senior Secured Loan)
- Integra Partners, LLC (Recipient of a First Lien Senior Secured Loan)
- Triton Lake Holdings, LP (Recipient of a First Lien Senior Secured Loan)
These companies represent some of PFLT's most significant investments, acting as the recipients of PFLT's capital and thus its "major customers" in the context of its BDC operations. None of these entities are publicly traded and therefore do not have public stock symbols.
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- U.S. Bancorp (USB)
- BNP Paribas (BNPQY)
- Capital One Financial Corporation (COF)
- JPMorgan Chase & Co. (JPM)
- Mitsubishi UFJ Financial Group, Inc. (MUFG)
- Regions Financial Corporation (RF)
- Sumitomo Mitsui Financial Group, Inc. (SMFG)
- Truist Financial Corporation (TFC)
- Wells Fargo & Company (WFC)
- Zions Bancorporation (ZION)
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Arthur H. Penn, Chairman and Chief Executive Officer
Arthur H. Penn is the Founder, Chairman, and Chief Executive Officer of PennantPark Floating Rate Capital Ltd. (PFLT) since its inception in 2010, and PennantPark Investment Corporation (PNNT) since 2007. He is also the Founder and Managing Member of PennantPark Investment Advisers, LLC. Prior to founding PennantPark, Mr. Penn co-founded Apollo Investment Management, where he served as a Managing Partner from 2004 to 2006. He also held roles as Chief Operating Officer of Apollo Investment Corporation from 2004 to 2006 and as President and Chief Operating Officer in 2006. His experience spans senior lending, mezzanine lending, leveraged finance, distressed debt, and private equity businesses. PennantPark focuses on providing debt capital to middle-market companies with annual cash flow (EBITDA) between $10 million and $50 million, often collaborating with private equity sponsors.
Richard T. Allorto, Jr., Chief Financial Officer
Richard T. Allorto, Jr. joined PennantPark in June 2022 as Chief Financial Officer for both PFLT and PennantPark Investment Corporation (PNNT). He oversees all aspects of financial reporting, accounting, tax, operations, treasury, and administrative matters. Before joining PennantPark, Mr. Allorto served as the Chief Financial Officer of Medley Management Inc., and also held the CFO position at Sierra Income Corporation and Medley Capital Corporation. From 2001 to 2010, he was a Managing Director at GSC Group, where he also served as Chief Financial Officer of GSC Investment Corp, a business development company. Mr. Allorto began his career in public accounting at Arthur Andersen in 1994 and is a licensed CPA. His background demonstrates a consistent pattern of managing companies within the private credit and business development company (BDC) sectors, which frequently involve private equity-backed structures.
José A. Briones, Jr., Senior Partner
José A. Briones, Jr. is a Senior Partner at PennantPark Investment Advisers, LLC, and was appointed to PFLT's Board of Directors in May 2022. He joined PennantPark in December 2009 and is responsible for originating, underwriting, executing, and monitoring investments, as well as various strategic initiatives. Prior to PennantPark, Mr. Briones was a Partner at Apollo Investment Management, L.P. and a member of its investment committee from 2006 until he joined PennantPark. His earlier career included roles at UBS Securities, JP Morgan, and BT Securities and BT Alex Brown Inc.
Aviv Efrat, Senior Management (former Chief Financial Officer)
Aviv Efrat served as PennantPark Floating Rate Capital Ltd.'s Chief Financial Officer and Treasurer from the company's inception in 2010 until June 2021. He was a founding team member of PennantPark Investment Advisers, LLC. Following his tenure as CFO, Mr. Efrat transitioned to a senior management role within the PennantPark organization, focusing on strategic growth initiatives. He was instrumental in building the firm's finance and operations team.
AI Analysis | Feedback
The key risks to PennantPark Floating Rate Capital (PFLT) primarily stem from the nature of its investments as a Business Development Company (BDC) and its capital structure.
Credit Risk and Default Risk of Portfolio Companies
PFLT's core business involves providing debt financing to middle-market companies, many of which are highly leveraged and may have limited financial resources, making them inherently higher risk. A significant portion of its portfolio consists of below-investment-grade or "junk" securities, which carry a greater risk of default, particularly during economic downturns. The deterioration in the credit quality of these portfolio companies can have a material adverse effect on PFLT's financial condition and results of operations. The presence of non-accrual investments, where interest payments are significantly past due, directly threatens PFLT's income generation and can necessitate provisions for loan losses, impacting overall profitability.
Interest Rate Risk and Impact on Net Investment Income
While approximately 99% of PFLT's debt portfolio is variable-rate, meaning investment income can benefit from rising interest rates, the company is still exposed to significant interest rate risk. Its net investment income is dependent on the spread between the rate at which it borrows funds and the rate at which it invests those funds. Anticipated gradual rate cuts by the Federal Reserve could create a headwind for net investment income generation. Conversely, a sharp increase in interest rates could also decrease the value of any fixed-rate investments PFLT holds and increase its interest expense on credit facilities, thereby decreasing net investment income.
Market Volatility and its Impact on Net Asset Value (NAV)
PFLT's performance is vulnerable to fluctuations in economic, political, and broader market conditions, which can directly affect the valuation of its investments. Market volatility can lead to net realized and unrealized losses on investments and has historically caused fluctuations in PFLT's NAV per share. A sharp decline in the value of its net assets could put PFLT at risk of failing to maintain required asset coverage ratios or other covenants, potentially forcing the sale of investments at disadvantageous times or the issuance of additional common stock, which could dilute existing shareholders.
AI Analysis | Feedback
nullAI Analysis | Feedback
PennantPark Floating Rate Capital (PFLT) primarily provides floating rate senior secured loans, second-lien debt, mezzanine securities, and, to a lesser extent, equity investments to U.S. middle-market companies. These services fall within the broader private credit market, specifically targeting the U.S. middle market. The addressable market for private credit in the United States is substantial. Estimates vary slightly based on the reporting date, but generally range from approximately $1.1 trillion to $1.5 trillion. For instance, the U.S. private credit market was estimated at $1.1 trillion as of November 2025. Other sources indicate the U.S. private credit market size around $1.25 trillion as of December 2024, representing about three-quarters of the global private credit market which was $2 trillion at that time. At the end of 2023, the private credit asset class was estimated at nearly $2 trillion globally, having grown from $1.6 trillion at the end of 2023 and projected to reach $2.8 trillion by 2028.The addressable market for PennantPark Floating Rate Capital's main products and services, primarily floating rate loans and other debt and equity investments to U.S. middle-market companies, is the **U.S. private credit market**.
This market is estimated to be approximately $1.1 trillion to $1.5 trillion (U.S.).
AI Analysis | Feedback
PennantPark Floating Rate Capital (PFLT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market dynamics:
- Expansion of Joint Ventures: PFLT anticipates significant growth from its joint ventures. Notably, the recently announced partnership with Hamilton Lane is slated to commence investing in late 2025, with an expected ramp-up period of 12-18 months, aiming for a total portfolio of $500 million. Additionally, the existing PSSL joint venture continues to expand its balance sheet, which is expected to further enhance PFLT's earnings momentum.
- Increased Loan Originations and Portfolio Growth: The company forecasts increased loan originations in the second half of 2025 and has demonstrated a growing investment portfolio, with its value reaching $2.4 billion in the third fiscal quarter of 2025, up from $2.3 billion in the prior quarter. This expansion of investment activity directly contributes to higher interest income.
- Favorable Yield Environment for Floating Rate Debt: With approximately 100% of its debt portfolio consisting of variable-rate investments, PFLT is well-positioned to capitalize on a stable or potentially increasing interest rate environment. The company has observed stabilized pricing for first-lien term loans in the core middle market, around SOFR +500–550 basis points for high-quality assets, contributing to attractive weighted average yields on its debt investments.
- Strategic Capital Management and Enhanced Funding Capacity: PFLT has actively strengthened its liquidity and funding over the past year. This includes securing new securitization financing at attractive rates and amending credit facilities to lower pricing. This increased capital capacity, including over $500 million in available capital for PFLT and $350 million in committed capital for its joint ventures, enables the company to pursue new investment opportunities and expand its portfolio profitably.
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Share Issuance
- PennantPark Floating Rate Capital issued 21,638,000 shares of common stock through its 2024 At-The-Market (ATM) Program during the nine months ended June 30, 2025, generating net proceeds of $244.8 million.
- During the three months ended June 30, 2025, the company issued 2,800,000 shares of common stock via its 2024 ATM Program, resulting in net proceeds of $31.6 million.
- The number of common shares outstanding significantly increased from 45,345,638 as of November 17, 2022, to 99,217,896 as of June 30, 2025.
Outbound Investments
- In fiscal Q1 2025, PennantPark Floating Rate Capital invested $607 million across 11 new and 58 existing investments.
- As of September 30, 2024, the company's total portfolio amounted to $1,983.5 million, predominantly comprised of $1,746.7 million in first lien secured debt.
- PFLT committed $150 million to a new joint venture, PennantPark Senior Secured Loan Fund II, LLC (PSSL II), formed in August 2025 with Hamilton Lane, which is expected to grow its portfolio to an initial $500 million.
Capital Expenditures
- PennantPark Floating Rate Capital reported capital expenditures of $0.00 for fiscal years 2022, 2023, 2024, and the second quarter of 2025.
Trade Ideas
Select ideas related to PFLT.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 02282026 | NDAQ | Nasdaq | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 02272026 | JEF | Jefferies Financial | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 02272026 | PAYO | Payoneer Global | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 02272026 | FOUR | Shift4 Payments | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 02202026 | COIN | Coinbase Global | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 2.6% | 2.6% | -6.5% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 14.90 |
| Mkt Cap | 4.3 |
| Rev LTM | 412 |
| Op Inc LTM | - |
| FCF LTM | 31 |
| FCF 3Y Avg | -187 |
| CFO LTM | 31 |
| CFO 3Y Avg | -187 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -15.6% |
| Rev Chg 3Y Avg | 30.7% |
| Rev Chg Q | -30.4% |
| QoQ Delta Rev Chg LTM | -8.1% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 55.0% |
| CFO/Rev 3Y Avg | -22.0% |
| FCF/Rev LTM | 55.0% |
| FCF/Rev 3Y Avg | -22.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.3 |
| P/S | 9.2 |
| P/EBIT | - |
| P/E | 10.2 |
| P/CFO | 0.5 |
| Total Yield | 20.9% |
| Dividend Yield | 12.6% |
| FCF Yield 3Y Avg | -2.9% |
| D/E | 1.5 |
| Net D/E | 1.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.0% |
| 3M Rtn | -12.3% |
| 6M Rtn | -15.8% |
| 12M Rtn | -16.4% |
| 3Y Rtn | 33.7% |
| 1M Excs Rtn | -5.8% |
| 3M Excs Rtn | -11.6% |
| 6M Excs Rtn | -20.6% |
| 12M Excs Rtn | -33.7% |
| 3Y Excs Rtn | -48.0% |
Price Behavior
| Market Price | $8.08 | |
| Market Cap ($ Bil) | 0.8 | |
| First Trading Date | 04/08/2011 | |
| Distance from 52W High | -20.5% | |
| 50 Days | 200 Days | |
| DMA Price | $8.95 | $9.12 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -9.7% | -11.4% |
| 3M | 1YR | |
| Volatility | 21.2% | 22.9% |
| Downside Capture | 103.21 | 88.26 |
| Upside Capture | 27.67 | 52.75 |
| Correlation (SPY) | 45.7% | 59.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.09 | 0.91 | 0.83 | 0.79 | 0.70 | 0.66 |
| Up Beta | 2.12 | 1.32 | 0.94 | 1.14 | 0.66 | 0.62 |
| Down Beta | 1.12 | 1.05 | 1.08 | 0.82 | 0.77 | 0.74 |
| Up Capture | -7% | 33% | 39% | 33% | 39% | 28% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 7 | 18 | 28 | 57 | 122 | 397 |
| Down Capture | 170% | 111% | 97% | 98% | 90% | 89% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 14 | 22 | 32 | 64 | 116 | 323 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PFLT | |
|---|---|---|---|---|
| PFLT | -17.0% | 22.9% | -0.88 | - |
| Sector ETF (XLF) | 3.0% | 19.3% | 0.03 | 63.6% |
| Equity (SPY) | 19.6% | 19.1% | 0.81 | 59.6% |
| Gold (GLD) | 77.6% | 26.1% | 2.18 | 0.7% |
| Commodities (DBC) | 20.2% | 17.2% | 0.92 | 28.0% |
| Real Estate (VNQ) | 6.1% | 16.4% | 0.19 | 52.7% |
| Bitcoin (BTCUSD) | -24.3% | 45.7% | -0.47 | 32.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PFLT | |
|---|---|---|---|---|
| PFLT | 2.5% | 20.8% | 0.06 | - |
| Sector ETF (XLF) | 10.5% | 18.7% | 0.44 | 51.7% |
| Equity (SPY) | 13.4% | 17.0% | 0.62 | 50.9% |
| Gold (GLD) | 24.0% | 17.2% | 1.14 | 6.4% |
| Commodities (DBC) | 11.8% | 19.0% | 0.50 | 18.7% |
| Real Estate (VNQ) | 5.3% | 18.8% | 0.18 | 47.4% |
| Bitcoin (BTCUSD) | 7.1% | 56.8% | 0.35 | 22.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PFLT | |
|---|---|---|---|---|
| PFLT | 7.0% | 28.7% | 0.29 | - |
| Sector ETF (XLF) | 13.5% | 22.2% | 0.56 | 51.5% |
| Equity (SPY) | 15.2% | 17.9% | 0.73 | 47.4% |
| Gold (GLD) | 14.9% | 15.6% | 0.79 | 5.5% |
| Commodities (DBC) | 8.9% | 17.6% | 0.42 | 23.7% |
| Real Estate (VNQ) | 6.2% | 20.7% | 0.26 | 49.9% |
| Bitcoin (BTCUSD) | 65.7% | 66.8% | 1.05 | 15.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/9/2026 | -3.5% | -8.7% | |
| 11/24/2025 | -1.0% | 2.4% | 0.2% |
| 8/11/2025 | -1.1% | -1.6% | -2.1% |
| 5/12/2025 | -0.8% | 2.2% | 3.9% |
| 2/10/2025 | 3.1% | 1.7% | 0.9% |
| 11/25/2024 | 0.4% | 0.4% | -1.1% |
| 8/7/2024 | 0.4% | 3.9% | 7.6% |
| 5/8/2024 | -1.0% | -1.2% | -0.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 16 | 13 |
| # Negative | 12 | 8 | 10 |
| Median Positive | 1.7% | 2.0% | 3.1% |
| Median Negative | -1.6% | -5.8% | -3.1% |
| Max Positive | 8.4% | 13.2% | 31.1% |
| Max Negative | -5.1% | -9.9% | -10.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/09/2026 | 10-Q |
| 09/30/2025 | 11/24/2025 | 10-K |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 02/10/2025 | 10-Q |
| 09/30/2024 | 11/26/2024 | 10-K |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/07/2024 | 10-Q |
| 09/30/2023 | 12/08/2023 | 10-K |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 02/08/2023 | 10-Q |
| 09/30/2022 | 11/17/2022 | 10-K |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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