OCSL vs. RPIFX
OCSL (Oaktree Specialty Lending Corporation) is a stock, while RPIFX (T. Rowe Price Institutional Floating Rate Fund) is Bank Loan fund managed by T. Rowe Price. Over the past 10 years, OCSL returned 7.35%/yr vs 4.75%/yr for RPIFX. At a 0.18 correlation, their price movements are largely independent.
Performance
OCSL vs. RPIFX - Performance Comparison
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Returns By Period
In the year-to-date period, OCSL achieves a 0.78% return, which is significantly lower than RPIFX's 1.05% return. Over the past 10 years, OCSL has outperformed RPIFX with an annualized return of 7.35%, while RPIFX has yielded a comparatively lower 4.75% annualized return.
OCSL
- 1D
- -0.74%
- 1M
- 2.04%
- 6M
- 0.55%
- YTD
- 0.78%
- 1Y
- -5.45%
- 3Y*
- -4.24%
- 5Y*
- 1.32%
- 10Y*
- 7.35%
RPIFX
- 1D
- 0.00%
- 1M
- 0.58%
- 6M
- 0.83%
- YTD
- 1.05%
- 1Y
- 4.33%
- 3Y*
- 6.84%
- 5Y*
- 5.16%
- 10Y*
- 4.75%
OCSL vs. RPIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OCSL Oaktree Specialty Lending Corporation | 0.78% | -6.06% | -15.15% | 11.25% | 3.74% | 44.99% | 11.00% | 38.74% | -6.31% | -1.09% |
RPIFX T. Rowe Price Institutional Floating Rate Fund | 1.05% | 6.71% | 8.47% | 10.13% | -1.96% | 4.67% | 2.42% | 8.82% | 0.39% | 3.78% |
Correlation
The correlation between OCSL and RPIFX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2008 | 0.18 |
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Return for Risk
OCSL vs. RPIFX — Risk / Return Rank
OCSL
RPIFX
OCSL vs. RPIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Oaktree Specialty Lending Corporation (OCSL) 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.
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.
| OCSL | RPIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.12 | ||
| Sortino ratioReturn per unit of downside risk | -4.48 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.63 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 3.02 | -3.30 |
| Martin ratioReturn relative to average drawdown | -0.58 | 9.92 | -10.51 |
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Drawdowns
OCSL vs. RPIFX - Drawdown Comparison
The maximum OCSL drawdown since its inception was -59.52%, which is greater than RPIFX's maximum drawdown of -25.10%. Use the drawdown chart below to compare losses from any high point for OCSL and RPIFX.
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Drawdown Indicators
| OCSL | RPIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.52% | -25.10% | -34.42% |
Max Drawdown (1Y)Largest decline over 1 year | -19.77% | -1.44% | -18.33% |
Max Drawdown (3Y)Largest decline over 3 years | -34.16% | -2.28% | -31.88% |
Max Drawdown (5Y)Largest decline over 5 years | -34.16% | -5.90% | -28.26% |
Max Drawdown (10Y)Largest decline over 10 years | -57.32% | -19.67% | -37.65% |
Current DrawdownCurrent decline from peak | -23.84% | -0.18% | -23.66% |
Average DrawdownAverage peak-to-trough decline | -16.72% | -1.33% | -15.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.37% | 0.44% | +8.93% |
Volatility
OCSL vs. RPIFX - Volatility Comparison
Oaktree Specialty Lending Corporation (OCSL) has a higher volatility of 6.42% compared to T. Rowe Price Institutional Floating Rate Fund (RPIFX) at 0.69%. This indicates that OCSL's price experiences larger fluctuations and is considered to be riskier 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
| OCSL | RPIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.42% | 0.69% | +5.73% |
Volatility (6M)Calculated over the trailing 6-month period | 18.07% | 1.71% | +16.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.18% | 2.33% | +19.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.01% | 2.76% | +17.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.85% | 3.79% | +23.06% |
Dividends
OCSL vs. RPIFX - Dividend Comparison
OCSL's dividend yield for the trailing twelve months is around 12.80%, more than RPIFX's 6.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OCSL Oaktree Specialty Lending Corporation | 12.80% | 13.27% | 14.40% | 11.12% | 11.86% | 7.37% | 7.27% | 6.96% | 8.75% | 8.38% | 13.41% | 10.84% |
RPIFX T. Rowe Price Institutional Floating Rate Fund | 6.43% | 7.22% | 7.77% | 6.53% | 4.12% | 3.94% | 4.29% | 5.12% | 5.16% | 4.32% | 4.31% | 4.45% |
Frequently Asked Questions
OCSL and RPIFX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OCSL has higher volatility (6.42%) compared to RPIFX (0.69%). In terms of maximum drawdown, OCSL dropped -59.52% vs RPIFX's -25.10%.
RPIFX currently has the higher Sharpe Ratio (1.88 vs -0.25), 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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