FLRN vs. PRFRX
Compare and contrast key facts about SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) and T. Rowe Price Floating Rate Fund (PRFRX).
FLRN is a passively managed fund by State Street that tracks the performance of the Bloomberg US Floating Rate Notes (<5 Y). It was launched on Nov 30, 2011. PRFRX is managed by T. Rowe Price. It was launched on Jul 29, 2011.
Performance
FLRN vs. PRFRX - Performance Comparison
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FLRN vs. PRFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 0.84% | 5.01% | 6.32% | 6.54% | 1.31% | 0.39% | 0.77% | 4.02% | 1.39% | 1.81% |
PRFRX T. Rowe Price Floating Rate Fund | -0.06% | 13.09% | 8.80% | 13.78% | -1.95% | 4.60% | 1.75% | 8.46% | -0.08% | 3.48% |
Returns By Period
In the year-to-date period, FLRN achieves a 0.84% return, which is significantly higher than PRFRX's -0.06% return. Over the past 10 years, FLRN has underperformed PRFRX with an annualized return of 2.99%, while PRFRX has yielded a comparatively higher 5.66% annualized return.
FLRN
- 1D
- 0.16%
- 1M
- 0.13%
- YTD
- 0.84%
- 6M
- 1.99%
- 1Y
- 4.67%
- 3Y*
- 5.88%
- 5Y*
- 4.00%
- 10Y*
- 2.99%
PRFRX
- 1D
- 0.00%
- 1M
- -0.11%
- YTD
- -0.06%
- 6M
- 3.35%
- 1Y
- 11.72%
- 3Y*
- 10.22%
- 5Y*
- 7.18%
- 10Y*
- 5.66%
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FLRN vs. PRFRX - Expense Ratio Comparison
FLRN has a 0.15% expense ratio, which is lower than PRFRX's 0.75% expense ratio.
Return for Risk
FLRN vs. PRFRX — Risk / Return Rank
FLRN
PRFRX
FLRN vs. PRFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) 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.
| FLRN | PRFRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.58 | 3.66 | -1.08 |
Sortino ratioReturn per unit of downside risk | 3.22 | 7.34 | -4.11 |
Omega ratioGain probability vs. loss probability | 2.10 | 2.39 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | 3.21 | 5.81 | -2.60 |
Martin ratioReturn relative to average drawdown | 26.30 | 28.10 | -1.79 |
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
| FLRN | PRFRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | 3.66 | -1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.39 | 2.48 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 1.45 | -0.74 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 1.43 | -0.94 |
Correlation
The correlation between FLRN and PRFRX is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FLRN vs. PRFRX - Dividend Comparison
FLRN's dividend yield for the trailing twelve months is around 4.69%, less than PRFRX's 12.94% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF | 4.69% | 4.89% | 5.67% | 5.68% | 1.95% | 0.39% | 1.22% | 2.76% | 2.39% | 1.64% | 1.06% | 0.63% |
PRFRX T. Rowe Price Floating Rate Fund | 12.94% | 12.91% | 8.17% | 9.57% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
Drawdowns
FLRN vs. PRFRX - Drawdown Comparison
The maximum FLRN drawdown since its inception was -14.64%, smaller than the maximum PRFRX drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for FLRN and PRFRX.
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Drawdown Indicators
| FLRN | PRFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -20.05% | +5.41% |
Max Drawdown (1Y)Largest decline over 1 year | -1.43% | -2.07% | +0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -2.16% | -5.94% | +3.78% |
Max Drawdown (10Y)Largest decline over 10 years | -14.64% | -20.05% | +5.41% |
Current DrawdownCurrent decline from peak | 0.00% | -0.64% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -0.69% | -1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 0.43% | -0.26% |
Volatility
FLRN vs. PRFRX - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN) is 0.37%, while T. Rowe Price Floating Rate Fund (PRFRX) has a volatility of 0.74%. This indicates that FLRN experiences smaller price fluctuations and is considered to be less risky than PRFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLRN | PRFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 0.74% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 0.54% | 2.18% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.82% | 3.34% | -1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.69% | 2.91% | -1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.21% | 3.92% | +0.29% |