FFRAX vs. PAFRX
Compare and contrast key facts about Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) and T. Rowe Price Floating Rate Fund (PAFRX).
FFRAX is managed by Fidelity. It was launched on Aug 16, 2000. PAFRX is managed by T. Rowe Price. It was launched on Jul 28, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FFRAX or PAFRX.
Key characteristics
| FFRAX | PAFRX | |
|---|---|---|
| YTD Return | 7.68% | 7.26% |
| 1Y Return | 9.65% | 10.13% |
| 3Y Return (Ann) | 6.00% | 6.16% |
| 5Y Return (Ann) | 5.31% | 5.11% |
| 10Y Return (Ann) | 4.26% | 4.31% |
| Sharpe Ratio | 3.73 | 3.89 |
| Sortino Ratio | 10.22 | 12.86 |
| Omega Ratio | 3.54 | 4.34 |
| Calmar Ratio | 10.90 | 13.47 |
| Martin Ratio | 57.10 | 74.81 |
| Ulcer Index | 0.16% | 0.14% |
| Daily Std Dev | 2.51% | 2.60% |
| Max Drawdown | -22.22% | -19.95% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between FFRAX and PAFRX is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
FFRAX vs. PAFRX - Performance Comparison
In the year-to-date period, FFRAX achieves a 7.68% return, which is significantly higher than PAFRX's 7.26% return. Both investments have delivered pretty close results over the past 10 years, with FFRAX having a 4.26% annualized return and PAFRX not far ahead at 4.31%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FFRAX vs. PAFRX - Expense Ratio Comparison
FFRAX has a 0.98% expense ratio, which is higher than PAFRX's 0.97% expense ratio.
Risk-Adjusted Performance
FFRAX vs. PAFRX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) and T. Rowe Price Floating Rate Fund (PAFRX). 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.
Dividends
FFRAX vs. PAFRX - Dividend Comparison
FFRAX's dividend yield for the trailing twelve months is around 8.08%, less than PAFRX's 8.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRAX Fidelity Advisor Floating Rate High Income Fund Class A | 8.08% | 7.95% | 4.73% | 2.94% | 3.55% | 4.86% | 4.41% | 3.73% | 3.66% | 3.96% | 3.70% | 3.18% |
PAFRX T. Rowe Price Floating Rate Fund | 8.19% | 8.14% | 5.00% | 3.64% | 3.79% | 4.62% | 4.65% | 3.84% | 3.85% | 3.96% | 3.75% | 3.42% |
Drawdowns
FFRAX vs. PAFRX - Drawdown Comparison
The maximum FFRAX drawdown since its inception was -22.22%, which is greater than PAFRX's maximum drawdown of -19.95%. Use the drawdown chart below to compare losses from any high point for FFRAX and PAFRX. For additional features, visit the drawdowns tool.
Volatility
FFRAX vs. PAFRX - Volatility Comparison
The current volatility for Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) is 0.62%, while T. Rowe Price Floating Rate Fund (PAFRX) has a volatility of 0.66%. This indicates that FFRAX experiences smaller price fluctuations and is considered to be less risky than PAFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.