LHYAX vs. PRFRX
LHYAX (Lord Abbett High Yield Fund) and PRFRX (T. Rowe Price Floating Rate Fund) are both High Yield Bonds funds. Over the past 10 years, LHYAX returned 4.59%/yr vs 5.54%/yr for PRFRX. A 0.58 correlation means they provide meaningful diversification when combined. LHYAX charges 0.88%/yr vs 0.75%/yr for PRFRX.
Performance
LHYAX vs. PRFRX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LHYAX achieves a 1.38% return, which is significantly higher than PRFRX's 0.95% return. Over the past 10 years, LHYAX has underperformed PRFRX with an annualized return of 4.59%, while PRFRX has yielded a comparatively higher 5.54% annualized return.
LHYAX
- 1D
- -0.16%
- 1M
- 0.41%
- YTD
- 1.38%
- 6M
- 2.15%
- 1Y
- 6.92%
- 3Y*
- 7.73%
- 5Y*
- 2.17%
- 10Y*
- 4.59%
PRFRX
- 1D
- 0.00%
- 1M
- 0.12%
- YTD
- 0.95%
- 6M
- 2.23%
- 1Y
- 7.80%
- 3Y*
- 9.72%
- 5Y*
- 6.99%
- 10Y*
- 5.54%
LHYAX vs. PRFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LHYAX Lord Abbett High Yield Fund | 1.38% | 7.44% | 7.25% | 9.84% | -14.97% | 6.16% | 4.56% | 15.11% | -5.10% | 8.53% |
PRFRX T. Rowe Price Floating Rate Fund | 0.95% | 9.82% | 11.04% | 13.78% | -1.95% | 4.60% | 1.75% | 8.46% | -0.08% | 3.48% |
Correlation
The correlation between LHYAX and PRFRX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2011 | 0.58 |
Over the past year, the correlation between LHYAX and PRFRX has dropped to 0.35 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LHYAX vs. PRFRX — Risk / Return Rank
LHYAX
PRFRX
LHYAX vs. PRFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lord Abbett High Yield Fund (LHYAX) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| LHYAX | PRFRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -4.20 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 2.17 | -0.72 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 5.22 | -2.86 |
| Martin ratioReturn relative to average drawdown | 10.56 | 19.34 | -8.78 |
Loading charts...
Drawdowns
LHYAX vs. PRFRX - Drawdown Comparison
The maximum LHYAX drawdown since its inception was -31.68%, which is greater than PRFRX's maximum drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for LHYAX and PRFRX.
Loading charts...
Drawdown Indicators
| LHYAX | PRFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.68% | -20.05% | -11.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -1.50% | -1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -4.87% | -2.35% | -2.52% |
Max Drawdown (5Y)Largest decline over 5 years | -18.67% | -5.94% | -12.73% |
Max Drawdown (10Y)Largest decline over 10 years | -24.23% | -20.05% | -4.18% |
Current DrawdownCurrent decline from peak | -0.48% | -0.44% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -3.07% | -0.69% | -2.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.40% | +0.27% |
Volatility
LHYAX vs. PRFRX - Volatility Comparison
Lord Abbett High Yield Fund (LHYAX) has a higher volatility of 0.95% compared to T. Rowe Price Floating Rate Fund (PRFRX) at 0.63%. This indicates that LHYAX'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.
Loading charts...
Volatility by Period
| LHYAX | PRFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.63% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 1.85% | +0.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 2.65% | +1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.10% | 2.91% | +2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.72% | 3.92% | +1.80% |
LHYAX vs. PRFRX - Expense Ratio Comparison
LHYAX has a 0.88% expense ratio, which is higher than PRFRX's 0.75% expense ratio.
Dividends
LHYAX vs. PRFRX - Dividend Comparison
LHYAX's dividend yield for the trailing twelve months is around 7.23%, less than PRFRX's 9.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LHYAX Lord Abbett High Yield Fund | 7.23% | 7.13% | 6.02% | 5.84% | 4.60% | 4.91% | 5.15% | 5.47% | 6.29% | 5.65% | 5.85% | 6.08% |
PRFRX T. Rowe Price Floating Rate Fund | 9.25% | 9.99% | 10.20% | 9.57% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
Frequently Asked Questions
LHYAX and PRFRX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LHYAX has higher volatility (0.95%) compared to PRFRX (0.63%). In terms of maximum drawdown, LHYAX dropped -31.68% vs PRFRX's -20.05%.
PRFRX currently has the higher Sharpe Ratio (2.96 vs 1.94), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for LHYAX and PRFRX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer