In plain terms — BlackRock Floating Rate Income Strategies Fund
Shares currently cost about 9.2% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 3.5% discount, so today's level is somewhat wide for this fund (Z-score -1.9). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 14.7% a year of the share price (13.3% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.10 of assets — a ReinvestCapture™ rate of 16.1%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 3.8% over the past year including distributions (NAV total return).
Annual costs are 2.97% of assets, and the fund borrows: about 21% of what it holds is financed with leverage, which magnifies both gains and losses.
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -5.06% | 1.55% | -2.28 | 55 |
| 6 months | -4.77% | 1.21% | -3.16 | 107 |
| 1 year | -3.51% | 2.64% | -1.92 | 209 |
| 3 years | -0.35% | — | — | — |
| 5 years | -3.19% | — | — | — |
Current contemporaneous premium/discount -8.59% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -8.59% to +5.20%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -5.22% | -6.70% | -13.75% | -20.81% | -6.39% | -5.90% |
| Market price total return | -4.12% | -3.46% | -4.64% | -9.75% | +5.12% | +4.36% |
| NAV return | -1.76% | -2.53% | -7.61% | -8.59% | -5.15% | -4.43% |
| NAV total return | -0.68% | +0.71% | +1.72% | +3.76% | +6.49% | +5.70% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
BlackRock Floating Rate Income Strategies Fund, Inc. is a close ended fixed income mutual fund launched by BlackRock, Inc. The fund is managed by BlackRock Advisors, LLC. It invests in the fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors. It primarily invests in floating rate debt securities and instruments consisting of secured or unsecured senior floating rate loans that are rated below investment grade. BlackRock Floating Rate Income Strategies Fund, Inc. was formed on October 31, 2003 and is domiciled in the United States.
CEF Explorer research page for BlackRock Floating Rate Income Strategies Fund, Inc.. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.