FIQSX vs. RPIFX
Compare and contrast key facts about Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX) and T. Rowe Price Institutional Floating Rate Fund (RPIFX).
FIQSX is managed by Fidelity. It was launched on Oct 2, 2018. RPIFX is managed by T. Rowe Price. It was launched on Jan 30, 2008.
Performance
FIQSX vs. RPIFX - Performance Comparison
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FIQSX vs. RPIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FIQSX Fidelity Advisor Floating Rate High Income Fund Class Z | -0.61% | 5.53% | 8.80% | 11.71% | -1.49% | 5.06% | 1.86% | 8.56% | -3.27% |
RPIFX T. Rowe Price Institutional Floating Rate Fund | -0.94% | 6.71% | 8.47% | 10.13% | -1.96% | 4.67% | 2.42% | 8.82% | -2.81% |
Returns By Period
In the year-to-date period, FIQSX achieves a -0.61% return, which is significantly higher than RPIFX's -0.94% return.
FIQSX
- 1D
- 0.00%
- 1M
- 0.22%
- YTD
- -0.61%
- 6M
- 0.79%
- 1Y
- 4.71%
- 3Y*
- 7.33%
- 5Y*
- 5.37%
- 10Y*
- —
RPIFX
- 1D
- 0.00%
- 1M
- 0.11%
- YTD
- -0.94%
- 6M
- 0.72%
- 1Y
- 5.15%
- 3Y*
- 6.99%
- 5Y*
- 5.01%
- 10Y*
- 4.79%
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FIQSX vs. RPIFX - Expense Ratio Comparison
FIQSX has a 0.62% expense ratio, which is higher than RPIFX's 0.57% expense ratio.
Return for Risk
FIQSX vs. RPIFX — Risk / Return Rank
FIQSX
RPIFX
FIQSX vs. RPIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX) and T. Rowe Price Institutional Floating Rate Fund (RPIFX). 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.
| FIQSX | RPIFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.47 | 1.85 | -0.38 |
Sortino ratioReturn per unit of downside risk | 2.06 | 3.28 | -1.22 |
Omega ratioGain probability vs. loss probability | 1.49 | 1.63 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.68 | -0.80 |
Martin ratioReturn relative to average drawdown | 8.89 | 10.39 | -1.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIQSX | RPIFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | 1.85 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.90 | 1.85 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 1.27 | -0.25 |
Correlation
The correlation between FIQSX and RPIFX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FIQSX vs. RPIFX - Dividend Comparison
FIQSX's dividend yield for the trailing twelve months is around 6.80%, more than RPIFX's 6.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIQSX Fidelity Advisor Floating Rate High Income Fund Class Z | 6.80% | 7.47% | 8.40% | 7.55% | 3.86% | 2.79% | 3.90% | 5.20% | 1.37% | 0.00% | 0.00% | 0.00% |
RPIFX T. Rowe Price Institutional Floating Rate Fund | 6.63% | 7.22% | 7.77% | 6.53% | 4.12% | 3.94% | 4.29% | 5.12% | 5.16% | 4.32% | 4.31% | 4.45% |
Drawdowns
FIQSX vs. RPIFX - Drawdown Comparison
The maximum FIQSX drawdown since its inception was -22.19%, smaller than the maximum RPIFX drawdown of -25.10%. Use the drawdown chart below to compare losses from any high point for FIQSX and RPIFX.
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Drawdown Indicators
| FIQSX | RPIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.19% | -25.10% | +2.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.63% | -1.92% | -0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -5.86% | -5.90% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.67% | — |
Current DrawdownCurrent decline from peak | -0.82% | -1.15% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -1.13% | -1.35% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.52% | +0.06% |
Volatility
FIQSX vs. RPIFX - Volatility Comparison
The current volatility for Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX) is 0.56%, while T. Rowe Price Institutional Floating Rate Fund (RPIFX) has a volatility of 0.71%. This indicates that FIQSX experiences smaller price fluctuations and is considered to be less risky than RPIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIQSX | RPIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.56% | 0.71% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 1.62% | 1.76% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.24% | 2.79% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 2.73% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.67% | 3.79% | +0.88% |