T. Rowe Price Floating Rate Fund (PAFRX) belongs to the Bank Loan category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with PAFRX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PAFRX
PAFRX charges 0.97% annually. There are 39 mutual funds in the Bank Loan category with lower expense ratios, going as low as 0.41%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | 0.41% | — | Jan 2017 | PAFRX vs XPTFX | |
| Eaton Vance Floating-Rate Advantage Fund | 0.47% | — | Mar 2008 | PAFRX vs EIFAX | |
| Shenkman Capital Floating Rate High Income Fund | 0.54% | — | Oct 2014 | PAFRX vs SFHIX | |
| T. Rowe Price Institutional Floating Rate Fund | 0.57% | — | Jan 2008 | PAFRX vs RPIFX | |
| Lord Abbett Floating Rate Fund | 0.60% | — | Dec 2007 | PAFRX vs LFRIX |
Best Risk-Adjusted Alternatives to PAFRX
PAFRX has a PortfoliosLab risk / return rank of 71. There are 33 mutual funds in the Bank Loan category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund Class I Shares | 100 | — | Jun 2019 | PAFRX vs CCLFX | |
| RiverPark Floating Rate CMBS Fund | 100 | — | Sep 2016 | PAFRX vs RCRIX | |
| Calamos Aksia Alternative Credit and Income Fund C... | 99 | — | Jun 2023 | PAFRX vs CAPIX | |
| Payden Floating Rate Fund | 98 | — | Nov 2013 | PAFRX vs PYFRX | |
| Virtus Seix Floating Rate High Income Fund | 98 | — | Feb 2006 | PAFRX vs SAMBX |
Top Performing PAFRX Alternatives (YTD)
PAFRX is at 0.65% YTD. There are 47 mutual funds in the Bank Loan category with higher YTD returns, going as high as 3.95%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Federated Hermes Project and Trade Finance Tender ... | 3.95% | — | Jan 2017 | PAFRX vs XPTFX | |
| Cliffwater Corporate Lending Fund Class I Shares | 3.28% | — | Jun 2019 | PAFRX vs CCLFX | |
| BlackRock Floating Rate Income Trust | 3.20% | — | Aug 2004 | PAFRX vs BGT | |
| Calamos Aksia Alternative Credit and Income Fund C... | 3.16% | — | Jun 2023 | PAFRX vs CAPIX | |
| Victory Floating Rate Fund | 2.96% | — | Dec 2009 | PAFRX vs RSFYX |
Lowest Volatility Alternatives to PAFRX
PAFRX has 2.18% 1-year volatility. There are 11 mutual funds in the Bank Loan category with lower 1-year volatility, going as low as 0.76%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Floating Rate CMBS Fund | 0.76% | — | Sep 2016 | PAFRX vs RCRIX | |
| Cliffwater Corporate Lending Fund Class I Shares | 0.85% | — | Jun 2019 | PAFRX vs CCLFX | |
| Payden Floating Rate Fund | 1.25% | — | Nov 2013 | PAFRX vs PYFRX | |
| BNY Mellon Floating Rate Income Fund | 1.35% | — | Sep 2013 | PAFRX vs DFLYX | |
| Donoghue Forlines Risk Managed Income Fund | 1.69% | — | Dec 2017 | PAFRX vs FLOTX |
Lowest Drawdown Alternatives to PAFRX
PAFRX has a 1-year max drawdown of -1.51%. There are 23 mutual funds in the Bank Loan category with shallower 1-year drawdowns, going as shallow as -0.19%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund Class I Shares | -0.19% | — | Jun 2019 | PAFRX vs CCLFX | |
| RiverPark Floating Rate CMBS Fund | -0.19% | — | Sep 2016 | PAFRX vs RCRIX | |
| Virtus Seix Floating Rate High Income Fund | -0.78% | — | Feb 2006 | PAFRX vs SAMBX | |
| PGIM Floating Rate Income Fund | -0.85% | — | Mar 2011 | PAFRX vs FRFZX | |
| Virtus Newfleet Senior Floating Rate Fund | -0.88% | — | Jan 2008 | PAFRX vs PSFIX |
Other Mutual Funds from T. Rowe Price
The 10 most viewed T. Rowe Price mutual funds shown here include TRBCX, PRWCX, PRDGX and span 6 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Blue Chip Growth Fund | Large Cap Growth Equities | 8 | -3.32% | — | Jun 1993 | PAFRX vs TRBCX | |
| T. Rowe Price Capital Appreciation Fund | Diversified Portfolio | 43 | 5.93% | — | Jun 1986 | PAFRX vs PRWCX | |
| T. Rowe Price Dividend Growth Fund, Inc. | Large Cap Blend Equities, Dividend | 77 | 11.24% | — | Dec 1992 | PAFRX vs PRDGX | |
| T. Rowe Price U.S. Equity Research Fund | Large Cap Blend Equities | 56 | 9.19% | — | Nov 1994 | PAFRX vs PRCOX | |
| T. Rowe Price Blue Chip Growth Fund I Class | Large Cap Growth Equities | 8 | -3.25% | — | — | PAFRX vs TBCIX | |
| T. Rowe Price Equity Index 500 Fund | Large Cap Blend Equities | 62 | 9.23% | — | Mar 1990 | PAFRX vs PREIX | |
| T. Rowe Price All-Cap Opportunities Fund | Large Cap Growth Equities | 11 | -1.10% | — | Sep 1985 | PAFRX vs PRWAX | |
| T. Rowe Price Large-Cap Growth Fund | Large Cap Growth Equities | 11 | 0.26% | — | Oct 2001 | PAFRX vs TRLGX | |
| T. Rowe Price Science And Technology Fund | Technology Equities | 42 | 19.55% | — | Sep 1987 | PAFRX vs PRSCX | |
| T. Rowe Price Retirement 2035 Fund | Target Retirement Date | 34 | 8.47% | — | Feb 2004 | PAFRX vs TRRJX |
Often Compared With PAFRX
Investors most often compare PAFRX with FFRAX, FJSYX, PRFRX. These 20 comparison targets span 9 categories, based on PortfoliosLab usage data.
Compare PAFRX with Any Fund or Stock
Compare PAFRX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PAFRX with funds that move differently
T. Rowe Price Floating Rate Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PAFRX.
Explore PAFRX Diversifiers