MIFIX vs. TRBUX
MIFIX (Miller Intermediate Bond Fund) and TRBUX (T. Rowe Price Ultra Short-Term Bond Fund) are both mutual funds - MIFIX is a Corporate Bonds fund managed by Miller Investment, while TRBUX is a Ultrashort Bond fund managed by T. Rowe Price. Over the past 10 years, MIFIX returned 5.13%/yr vs 3.29%/yr for TRBUX. At a 0.06 correlation, their price movements are largely independent. MIFIX charges 0.99%/yr vs 0.31%/yr for TRBUX.
Performance
MIFIX vs. TRBUX - Performance Comparison
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Returns By Period
In the year-to-date period, MIFIX achieves a 4.56% return, which is significantly higher than TRBUX's 1.39% return. Over the past 10 years, MIFIX has outperformed TRBUX with an annualized return of 5.13%, while TRBUX has yielded a comparatively lower 3.29% annualized return.
MIFIX
- 1D
- -0.06%
- 1M
- 0.59%
- YTD
- 4.56%
- 6M
- 4.37%
- 1Y
- 9.75%
- 3Y*
- 7.64%
- 5Y*
- 3.89%
- 10Y*
- 5.13%
TRBUX
- 1D
- 0.00%
- 1M
- 0.36%
- YTD
- 1.39%
- 6M
- 2.18%
- 1Y
- 6.22%
- 3Y*
- 6.75%
- 5Y*
- 4.28%
- 10Y*
- 3.29%
MIFIX vs. TRBUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIFIX Miller Intermediate Bond Fund | 4.56% | 7.11% | 7.31% | 6.88% | -7.72% | 4.32% | 14.22% | 9.79% | -1.91% | 3.10% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 1.39% | 6.88% | 7.88% | 6.99% | -1.28% | 0.22% | 3.11% | 3.60% | 1.88% | 1.83% |
Correlation
The correlation between MIFIX and TRBUX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.06 |
The correlation between MIFIX and TRBUX shifts across timeframes, from 0.06 (10 years) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MIFIX vs. TRBUX — Risk / Return Rank
MIFIX
TRBUX
MIFIX vs. TRBUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Miller Intermediate Bond Fund (MIFIX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX). 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.
| MIFIX | TRBUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -3.88 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 3.56 | -1.91 |
| Calmar ratioReturn relative to maximum drawdown | 3.68 | 16.38 | -12.69 |
| Martin ratioReturn relative to average drawdown | 14.59 | 61.46 | -46.87 |
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Drawdowns
MIFIX vs. TRBUX - Drawdown Comparison
The maximum MIFIX drawdown since its inception was -15.58%, which is greater than TRBUX's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for MIFIX and TRBUX.
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Drawdown Indicators
| MIFIX | TRBUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.58% | -4.15% | -11.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -0.39% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -5.39% | -0.78% | -4.61% |
Max Drawdown (5Y)Largest decline over 5 years | -11.87% | -2.68% | -9.19% |
Max Drawdown (10Y)Largest decline over 10 years | -15.58% | -4.15% | -11.43% |
Current DrawdownCurrent decline from peak | -0.79% | -0.20% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -0.21% | -1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.10% | +0.57% |
Volatility
MIFIX vs. TRBUX - Volatility Comparison
Miller Intermediate Bond Fund (MIFIX) has a higher volatility of 1.12% compared to T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) at 0.61%. This indicates that MIFIX's price experiences larger fluctuations and is considered to be riskier than TRBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIFIX | TRBUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 0.61% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 1.19% | +1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 1.74% | +1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.00% | 1.69% | +3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.42% | 1.51% | +3.91% |
MIFIX vs. TRBUX - Expense Ratio Comparison
MIFIX has a 0.99% expense ratio, which is higher than TRBUX's 0.31% expense ratio.
Dividends
MIFIX vs. TRBUX - Dividend Comparison
MIFIX's dividend yield for the trailing twelve months is around 4.41%, less than TRBUX's 6.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIFIX Miller Intermediate Bond Fund | 4.41% | 4.59% | 4.08% | 3.60% | 3.62% | 5.87% | 5.16% | 2.36% | 5.16% | 3.90% | 1.48% | 1.78% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 6.04% | 6.23% | 6.36% | 4.48% | 1.53% | 1.21% | 1.86% | 2.73% | 2.47% | 1.62% | 1.18% | 0.81% |
Frequently Asked Questions
MIFIX and TRBUX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIFIX has higher volatility (1.12%) compared to TRBUX (0.61%). In terms of maximum drawdown, MIFIX dropped -15.58% vs TRBUX's -4.15%.
TRBUX currently has the higher Sharpe Ratio (3.69 vs 3.21), 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.
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