BAB vs. RPLCX
BAB (Invesco Taxable Municipal Bond ETF) and RPLCX (T. Rowe Price Institutional Long Duration Credit Fund) are both funds - BAB is a Municipal Bonds fund tracking the BofA Merrill Lynch Build America Bond Index, while RPLCX is a Long-Term Bond fund managed by T. Rowe Price. Over the past 10 years, BAB returned 1.92%/yr vs 1.44%/yr for RPLCX. Their correlation of 0.82 means they have usually moved in the same direction. BAB charges 0.28%/yr vs 0.45%/yr for RPLCX.
Performance
BAB vs. RPLCX - Performance Comparison
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Returns By Period
In the year-to-date period, BAB achieves a -0.69% return, which is significantly higher than RPLCX's -3.41% return. Over the past 10 years, BAB has outperformed RPLCX with an annualized return of 1.92%, while RPLCX has yielded a comparatively lower 1.44% annualized return.
BAB
- 1D
- 0.30%
- 1M
- -1.24%
- 6M
- -0.25%
- YTD
- -0.69%
- 1Y
- 2.76%
- 3Y*
- 4.48%
- 5Y*
- -1.31%
- 10Y*
- 1.92%
- ALL TIME*
- 4.63%
RPLCX
- 1D
- -0.42%
- 1M
- -3.89%
- 6M
- -3.47%
- YTD
- -3.41%
- 1Y
- -0.33%
- 3Y*
- 2.68%
- 5Y*
- -4.22%
- 10Y*
- 1.44%
- ALL TIME*
- 3.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.38M | $6.97M | $5.75M | |
| $0.00 | $0.00 | $0.00 |
BAB vs. RPLCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BAB Invesco Taxable Municipal Bond ETF | -0.69% | 8.30% | 1.03% | 8.67% | -19.50% | 1.00% | 9.11% | 10.85% | 0.93% | 9.87% |
RPLCX T. Rowe Price Institutional Long Duration Credit Fund | -3.41% | 7.65% | -1.84% | 9.05% | -27.00% | -0.19% | 16.73% | 23.72% | -6.27% | 11.03% |
Correlation
The correlation between BAB and RPLCX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.82 |
The correlation between BAB and RPLCX has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.
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Return for Risk
BAB vs. RPLCX — Risk / Return Rank
BAB
RPLCX
BAB vs. RPLCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Taxable Municipal Bond ETF (BAB) and T. Rowe Price Institutional Long Duration Credit Fund (RPLCX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| BAB | RPLCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.02 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 0.08 | +0.58 |
| Martin ratioReturn relative to average drawdown | 1.58 | 0.21 | +1.37 |
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Drawdowns
BAB vs. RPLCX - Drawdown Comparison
The maximum BAB drawdown since its inception was -27.80%, smaller than the maximum RPLCX drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for BAB and RPLCX.
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Drawdown Indicators
| BAB | RPLCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.80% | -35.21% | +7.41% |
Max Drawdown (1Y)Largest decline over 1 year | -4.15% | -5.60% | +1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -6.43% | -10.43% | +4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -24.77% | -35.21% | +10.44% |
Max Drawdown (10Y)Largest decline over 10 years | -27.80% | -35.21% | +7.41% |
Current DrawdownCurrent decline from peak | -6.40% | -20.32% | +13.92% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -10.22% | +4.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 2.20% | -0.45% |
Volatility
BAB vs. RPLCX - Volatility Comparison
The current volatility for Invesco Taxable Municipal Bond ETF (BAB) is 1.38%, while T. Rowe Price Institutional Long Duration Credit Fund (RPLCX) has a volatility of 1.94%. This indicates that BAB experiences smaller price fluctuations and is considered to be less risky than RPLCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAB | RPLCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 1.94% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 3.84% | 5.79% | -1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.55% | 7.74% | -2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.29% | 11.60% | -3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.68% | 10.57% | -0.89% |
BAB vs. RPLCX - Expense Ratio Comparison
BAB has a 0.28% expense ratio, which is lower than RPLCX's 0.45% expense ratio.
Dividends
BAB vs. RPLCX - Dividend Comparison
BAB's dividend yield for the trailing twelve months is around 4.22%, less than RPLCX's 4.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAB Invesco Taxable Municipal Bond ETF | 4.22% | 3.96% | 3.97% | 3.65% | 3.40% | 2.63% | 2.96% | 3.77% | 4.20% | 3.96% | 4.26% | 4.71% |
RPLCX T. Rowe Price Institutional Long Duration Credit Fund | 4.67% | 5.32% | 5.17% | 4.15% | 3.54% | 6.09% | 7.16% | 13.58% | 4.33% | 4.07% | 3.79% | 4.70% |
Frequently Asked Questions
BAB and RPLCX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPLCX has higher volatility (1.94%) compared to BAB (1.38%). In terms of maximum drawdown, BAB dropped -27.80% vs RPLCX's -35.21%.
BAB currently has the higher Sharpe Ratio (0.50 vs 0.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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