- ISIN
- US87283Q8832
- Issuer
- T. Rowe Price
- Inception Date
- Nov 16, 2022
- Region
- North America (U.S.)
- Category
- Bank Loan
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $626M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
TFLR Performance Chart
T. Rowe Price Floating Rate ETF (TFLR) is up 1.4% since the beginning of the year. TFLR is currently trading at $51 per share.
Loading charts...
Returns By Period
T. Rowe Price Floating Rate ETF (TFLR) has returned 1.41% so far this year and 5.50% over the past 12 months.
T. Rowe Price Floating Rate ETF
- 1D
- 0.10%
- 1M
- 0.10%
- YTD
- 1.41%
- 6M
- 1.66%
- 1Y
- 5.50%
- 3Y*
- 7.80%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
TFLR Monthly Returns History
Based on dividend-adjusted daily data since Nov 17, 2022, TFLR's average daily return is +0.03%, while the average monthly return is +0.62%. At this rate, an investment would double in approximately 9.3 years.
Historically, 84% of months were positive and 16% were negative. The best month was Jan 2023 with a return of +2.6%, while the worst month was Feb 2026 at -1.6%. The longest winning streak lasted 16 consecutive months, and the longest losing streak was 2 months.
On a daily basis, TFLR closed higher 59% of trading days. The best single day was Apr 9, 2025 with a return of +3.1%, while the worst single day was Apr 4, 2025 at -2.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.04% | -1.64% | 1.25% | 1.42% | 0.44% | 0.00% | 1.41% | ||||||
| 2025 | 0.51% | 0.25% | -0.33% | 0.22% | 1.50% | 0.81% | 0.69% | 0.53% | 0.58% | 0.46% | 0.36% | 0.81% | 6.57% |
| 2024 | 0.62% | 0.94% | 0.71% | 0.65% | 0.75% | 0.43% | 0.95% | 0.59% | 0.67% | 0.61% | 1.09% | 0.43% | 8.77% |
| 2023 | 2.64% | 0.21% | 0.19% | 0.78% | -0.13% | 1.99% | 1.13% | 1.03% | 0.22% | -0.30% | 2.09% | 1.63% | 12.05% |
| 2022 | -0.39% | -0.04% | -0.44% |
Benchmark Metrics
T. Rowe Price Floating Rate ETF has an annualized alpha of 4.91%, beta of 0.15, and R2 of 0.39 versus S&P 500 Index. Calculated based on daily prices since November 17, 2022.
- This ETF captured 19.05% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -9.67%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.15 may look defensive, but with R2 of 0.39 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.39 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 4.91%
- Beta
- 0.15
- R²
- 0.39
- Upside Capture
- 19.05%
- Downside Capture
- -9.67%
Expense Ratio
TFLR has an expense ratio of 0.60%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TFLR ranks 78 for risk / return — better than 78% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Floating Rate ETF (TFLR) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TFLR | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.37 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 2.78 | -0.25 |
| Martin ratioReturn relative to average drawdown | 11.58 | 12.44 | -0.86 |
Dividends
Dividend History
T. Rowe Price Floating Rate ETF provided a 6.76% dividend yield over the last twelve months, with an annual payout of $3.43 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $3.43 | $3.56 | $4.23 | $4.00 | $0.29 |
Dividend yield | 6.76% | 6.93% | 8.18% | 7.76% | 0.58% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Floating Rate ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.27 | $0.26 | $0.29 | $0.27 | $0.27 | $0.00 | $1.35 | ||||||
| 2025 | $0.29 | $0.27 | $0.31 | $0.30 | $0.30 | $0.29 | $0.30 | $0.30 | $0.31 | $0.30 | $0.30 | $0.28 | $3.56 |
| 2024 | $0.37 | $0.34 | $0.36 | $0.35 | $0.36 | $0.35 | $0.36 | $0.35 | $0.34 | $0.33 | $0.32 | $0.39 | $4.23 |
| 2023 | $0.31 | $0.32 | $0.33 | $0.33 | $0.34 | $0.32 | $0.26 | $0.27 | $0.39 | $0.38 | $0.36 | $0.40 | $4.00 |
| 2022 | $0.02 | $0.27 | $0.29 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Floating Rate ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price Floating Rate ETF was 4.01%, occurring on Apr 4, 2025. Recovery took 20 trading sessions.
The current T. Rowe Price Floating Rate ETF drawdown is 0.06%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -4.01%Apr 2025 | 1mo 9d | 1mo 1d | 2mo 10dFeb 2025 - May 2025 |
2026 pullback2026 | -2.18%Feb 2026 | 1mo 5d | 1mo 19d | 2mo 24dJan 2026 - Apr 2026 |
2023 pullback2023 | -1.48%Mar 2023 | 8d | 19d | 27dMar 2023 - Apr 2023 |
2024 pullback2024 | -1.05%Aug 2024 | 4d | 18d | 22dAug 2024 - Aug 2024 |
Bear market2022 | -1.00%Nov 2022 | 11d | 1mo 9d | 1mo 20dNov 2022 - Jan 2023 |
Drawdown Indicators
| TFLR | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.01% | -56.78% | +52.77% |
Max Drawdown (1Y)Largest decline over 1 year | -2.18% | -9.10% | +6.92% |
Max Drawdown (3Y)Largest decline over 3 years | -4.01% | -18.90% | +14.89% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.06% | -1.80% | +1.74% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -10.71% | +10.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 2.03% | -1.55% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with TFLR
Add T. Rowe Price Floating Rate ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with TFLR