FFRHX vs. PRFRX
Compare and contrast key facts about Fidelity Floating Rate High Income Fund (FFRHX) and T. Rowe Price Floating Rate Fund (PRFRX).
FFRHX is managed by Fidelity. It was launched on Aug 16, 2000. PRFRX is managed by T. Rowe Price. It was launched on Jul 29, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FFRHX or PRFRX.
Key characteristics
| FFRHX | PRFRX | |
|---|---|---|
| YTD Return | 5.19% | 5.04% |
| 1Y Return | 8.11% | 8.99% |
| 3Y Return (Ann) | 5.88% | 5.92% |
| 5Y Return (Ann) | 5.15% | 4.96% |
| 10Y Return (Ann) | 4.27% | 4.24% |
| Sharpe Ratio | 3.21 | 3.52 |
| Daily Std Dev | 2.62% | 2.59% |
| Max Drawdown | -22.20% | -20.05% |
| Current Drawdown | -0.11% | -0.11% |
Correlation
The correlation between FFRHX and PRFRX 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
FFRHX vs. PRFRX - Performance Comparison
The year-to-date returns for both stocks are quite close, with FFRHX having a 5.19% return and PRFRX slightly lower at 5.04%. Both investments have delivered pretty close results over the past 10 years, with FFRHX having a 4.27% annualized return and PRFRX not far behind at 4.24%. 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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FFRHX vs. PRFRX - Expense Ratio Comparison
FFRHX has a 0.67% expense ratio, which is lower than PRFRX's 0.75% expense ratio.
Risk-Adjusted Performance
FFRHX vs. PRFRX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Floating Rate High Income Fund (FFRHX) 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.
Dividends
FFRHX vs. PRFRX - Dividend Comparison
FFRHX's dividend yield for the trailing twelve months is around 7.78%, which matches PRFRX's 7.80% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 7.78% | 8.23% | 5.06% | 3.26% | 3.84% | 5.15% | 4.72% | 4.05% | 3.94% | 4.25% | 4.00% | 3.46% |
PRFRX T. Rowe Price Floating Rate Fund | 7.80% | 8.33% | 5.32% | 3.87% | 4.00% | 4.84% | 4.86% | 4.04% | 4.08% | 4.08% | 3.95% | 3.65% |
Drawdowns
FFRHX vs. PRFRX - Drawdown Comparison
The maximum FFRHX drawdown since its inception was -22.20%, which is greater than PRFRX's maximum drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for FFRHX and PRFRX. For additional features, visit the drawdowns tool.
Volatility
FFRHX vs. PRFRX - Volatility Comparison
Fidelity Floating Rate High Income Fund (FFRHX) has a higher volatility of 0.72% compared to T. Rowe Price Floating Rate Fund (PRFRX) at 0.67%. This indicates that FFRHX'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.