HIX vs. PRFRX
Compare and contrast key facts about Western Asset High Income Fund II (HIX) and T. Rowe Price Floating Rate Fund (PRFRX).
HIX is a passively managed fund by Franklin Templeton that tracks the performance of the . It was launched on May 28, 1998. PRFRX is managed by T. Rowe Price. It was launched on Jul 29, 2011.
Performance
HIX vs. PRFRX - Performance Comparison
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HIX vs. PRFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIX Western Asset High Income Fund II | -0.88% | 13.56% | -1.32% | 15.72% | -24.60% | 13.02% | 12.36% | 27.26% | -9.99% | 7.13% |
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, HIX achieves a -0.88% return, which is significantly lower than PRFRX's -0.06% return. Both investments have delivered pretty close results over the past 10 years, with HIX having a 5.73% annualized return and PRFRX not far behind at 5.66%.
HIX
- 1D
- 5.57%
- 1M
- -3.36%
- YTD
- -0.88%
- 6M
- -1.81%
- 1Y
- 9.56%
- 3Y*
- 7.57%
- 5Y*
- 1.20%
- 10Y*
- 5.73%
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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HIX vs. PRFRX - Expense Ratio Comparison
HIX has a 3.70% expense ratio, which is higher than PRFRX's 0.75% expense ratio.
Return for Risk
HIX vs. PRFRX — Risk / Return Rank
HIX
PRFRX
HIX vs. PRFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset High Income Fund II (HIX) 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.
| HIX | PRFRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.64 | 3.66 | -3.02 |
Sortino ratioReturn per unit of downside risk | 0.95 | 7.34 | -6.38 |
Omega ratioGain probability vs. loss probability | 1.14 | 2.39 | -1.24 |
Calmar ratioReturn relative to maximum drawdown | 0.82 | 5.81 | -4.99 |
Martin ratioReturn relative to average drawdown | 3.10 | 28.10 | -24.99 |
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
| HIX | PRFRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.64 | 3.66 | -3.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 2.48 | -2.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 1.45 | -1.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 1.43 | -1.10 |
Correlation
The correlation between HIX and PRFRX is 0.26, 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
HIX vs. PRFRX - Dividend Comparison
HIX's dividend yield for the trailing twelve months is around 14.77%, more than PRFRX's 12.94% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIX Western Asset High Income Fund II | 14.77% | 14.13% | 13.95% | 11.85% | 12.15% | 8.21% | 8.53% | 8.28% | 9.50% | 8.73% | 10.53% | 13.12% |
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
HIX vs. PRFRX - Drawdown Comparison
The maximum HIX drawdown since its inception was -61.03%, which is greater than PRFRX's maximum drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for HIX and PRFRX.
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Drawdown Indicators
| HIX | PRFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.03% | -20.05% | -40.98% |
Max Drawdown (1Y)Largest decline over 1 year | -11.07% | -2.07% | -9.00% |
Max Drawdown (5Y)Largest decline over 5 years | -38.75% | -5.94% | -32.81% |
Max Drawdown (10Y)Largest decline over 10 years | -44.77% | -20.05% | -24.72% |
Current DrawdownCurrent decline from peak | -7.38% | -0.64% | -6.74% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -0.69% | -8.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 0.43% | +2.48% |
Volatility
HIX vs. PRFRX - Volatility Comparison
Western Asset High Income Fund II (HIX) has a higher volatility of 7.56% compared to T. Rowe Price Floating Rate Fund (PRFRX) at 0.74%. This indicates that HIX'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.
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Volatility by Period
| HIX | PRFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 0.74% | +6.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.78% | 2.18% | +8.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.12% | 3.34% | +11.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.95% | 2.91% | +14.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 3.92% | +14.18% |