FBND vs. PRFRX
FBND (Fidelity Total Bond ETF) and PRFRX (T. Rowe Price Floating Rate Fund) are both funds - FBND is a Intermediate Core-Plus Bond fund actively managed by Fidelity, while PRFRX is a High Yield Bonds fund managed by T. Rowe Price. Over the past 10 years, FBND returned 2.54%/yr vs 5.46%/yr for PRFRX. At a 0.09 correlation, their price movements are largely independent. FBND charges 0.36%/yr vs 0.75%/yr for PRFRX.
Performance
FBND vs. PRFRX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FBND achieves a 0.70% return, which is significantly lower than PRFRX's 0.83% return. Over the past 10 years, FBND has underperformed PRFRX with an annualized return of 2.54%, while PRFRX has yielded a comparatively higher 5.46% annualized return.
FBND
- 1D
- -0.13%
- 1M
- 0.43%
- YTD
- 0.70%
- 6M
- 1.04%
- 1Y
- 4.85%
- 3Y*
- 4.89%
- 5Y*
- 0.76%
- 10Y*
- 2.54%
PRFRX
- 1D
- -0.11%
- 1M
- -0.21%
- YTD
- 0.83%
- 6M
- 2.01%
- 1Y
- 7.68%
- 3Y*
- 9.76%
- 5Y*
- 6.95%
- 10Y*
- 5.46%
FBND vs. PRFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 0.70% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
PRFRX T. Rowe Price Floating Rate Fund | 0.83% | 9.82% | 11.04% | 13.78% | -1.95% | 4.60% | 1.75% | 8.46% | -0.08% | 3.48% |
Correlation
The correlation between FBND and PRFRX is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2014 | 0.09 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FBND vs. PRFRX — Risk / Return Rank
FBND
PRFRX
FBND vs. PRFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Bond ETF (FBND) and T. Rowe Price Floating Rate Fund (PRFRX). 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.
| FBND | PRFRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -5.46 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 2.14 | -0.92 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 5.15 | -3.32 |
| Martin ratioReturn relative to average drawdown | 5.32 | 19.34 | -14.02 |
Loading charts...
Drawdowns
FBND vs. PRFRX - Drawdown Comparison
The maximum FBND drawdown since its inception was -17.25%, smaller than the maximum PRFRX drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for FBND and PRFRX.
Loading charts...
Drawdown Indicators
| FBND | PRFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.25% | -20.05% | +2.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -1.50% | -1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -5.94% | -2.35% | -3.59% |
Max Drawdown (5Y)Largest decline over 5 years | -17.25% | -5.94% | -11.31% |
Max Drawdown (10Y)Largest decline over 10 years | -17.25% | -20.05% | +2.80% |
Current DrawdownCurrent decline from peak | -1.23% | -0.55% | -0.68% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -0.69% | -2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.40% | +0.51% |
Volatility
FBND vs. PRFRX - Volatility Comparison
Fidelity Total Bond ETF (FBND) has a higher volatility of 1.35% compared to T. Rowe Price Floating Rate Fund (PRFRX) at 0.64%. This indicates that FBND's price experiences larger fluctuations and is considered to be riskier than PRFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FBND | PRFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.64% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 1.86% | +0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 2.65% | +1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 2.91% | +3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.10% | 3.92% | +2.18% |
FBND vs. PRFRX - Expense Ratio Comparison
FBND has a 0.36% expense ratio, which is lower than PRFRX's 0.75% expense ratio.
Dividends
FBND vs. PRFRX - Dividend Comparison
FBND's dividend yield for the trailing twelve months is around 4.69%, less than PRFRX's 9.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBND Fidelity Total Bond ETF | 4.69% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
PRFRX T. Rowe Price Floating Rate Fund | 9.26% | 9.99% | 10.20% | 9.57% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
Frequently Asked Questions
FBND and PRFRX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBND has higher volatility (1.35%) compared to PRFRX (0.64%). In terms of maximum drawdown, FBND dropped -17.25% vs PRFRX's -20.05%.
PRFRX currently has the higher Sharpe Ratio (2.91 vs 1.27), 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.
Find the right allocation for FBND and PRFRX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer