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PAFRX vs. FFRAX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between PAFRX and FFRAX is 0.25, 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.


-0.50.00.51.0
Correlation: 0.2

Performance

PAFRX vs. FFRAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Floating Rate Fund (PAFRX) and Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX). The values are adjusted to include any dividend payments, if applicable.

68.00%70.00%72.00%74.00%76.00%NovemberDecember2025FebruaryMarchApril
72.83%
70.84%
PAFRX
FFRAX

Key characteristics

Sharpe Ratio

PAFRX:

2.03

FFRAX:

1.64

Sortino Ratio

PAFRX:

3.64

FFRAX:

2.52

Omega Ratio

PAFRX:

1.85

FFRAX:

1.60

Calmar Ratio

PAFRX:

1.90

FFRAX:

1.56

Martin Ratio

PAFRX:

9.36

FFRAX:

7.91

Ulcer Index

PAFRX:

0.61%

FFRAX:

0.65%

Daily Std Dev

PAFRX:

2.81%

FFRAX:

3.13%

Max Drawdown

PAFRX:

-19.95%

FFRAX:

-22.22%

Current Drawdown

PAFRX:

-1.61%

FFRAX:

-1.57%

Returns By Period

In the year-to-date period, PAFRX achieves a -0.72% return, which is significantly higher than FFRAX's -0.90% return. Both investments have delivered pretty close results over the past 10 years, with PAFRX having a 4.13% annualized return and FFRAX not far ahead at 4.14%.


PAFRX

YTD

-0.72%

1M

-0.87%

6M

1.36%

1Y

5.70%

5Y*

6.70%

10Y*

4.13%

FFRAX

YTD

-0.90%

1M

-0.71%

6M

1.12%

1Y

5.15%

5Y*

7.34%

10Y*

4.14%

*Annualized

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PAFRX vs. FFRAX - Expense Ratio Comparison

PAFRX has a 0.97% expense ratio, which is lower than FFRAX's 0.98% expense ratio.


Expense ratio chart for FFRAX: current value is 0.98%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
FFRAX: 0.98%
Expense ratio chart for PAFRX: current value is 0.97%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
PAFRX: 0.97%

Risk-Adjusted Performance

PAFRX vs. FFRAX — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PAFRX
The Risk-Adjusted Performance Rank of PAFRX is 9494
Overall Rank
The Sharpe Ratio Rank of PAFRX is 9292
Sharpe Ratio Rank
The Sortino Ratio Rank of PAFRX is 9494
Sortino Ratio Rank
The Omega Ratio Rank of PAFRX is 9797
Omega Ratio Rank
The Calmar Ratio Rank of PAFRX is 9292
Calmar Ratio Rank
The Martin Ratio Rank of PAFRX is 9393
Martin Ratio Rank

FFRAX
The Risk-Adjusted Performance Rank of FFRAX is 9191
Overall Rank
The Sharpe Ratio Rank of FFRAX is 8989
Sharpe Ratio Rank
The Sortino Ratio Rank of FFRAX is 9090
Sortino Ratio Rank
The Omega Ratio Rank of FFRAX is 9595
Omega Ratio Rank
The Calmar Ratio Rank of FFRAX is 9191
Calmar Ratio Rank
The Martin Ratio Rank of FFRAX is 9191
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

PAFRX vs. FFRAX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PAFRX) and Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX). 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.


The chart of Sharpe ratio for PAFRX, currently valued at 2.03, compared to the broader market-1.000.001.002.003.00
PAFRX: 2.03
FFRAX: 1.64
The chart of Sortino ratio for PAFRX, currently valued at 3.64, compared to the broader market-2.000.002.004.006.008.00
PAFRX: 3.64
FFRAX: 2.52
The chart of Omega ratio for PAFRX, currently valued at 1.85, compared to the broader market0.501.001.502.002.503.00
PAFRX: 1.85
FFRAX: 1.60
The chart of Calmar ratio for PAFRX, currently valued at 1.90, compared to the broader market0.002.004.006.008.0010.00
PAFRX: 1.90
FFRAX: 1.56
The chart of Martin ratio for PAFRX, currently valued at 9.36, compared to the broader market0.0010.0020.0030.0040.0050.00
PAFRX: 9.36
FFRAX: 7.91

The current PAFRX Sharpe Ratio is 2.03, which is comparable to the FFRAX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of PAFRX and FFRAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio1.001.502.002.503.003.504.00NovemberDecember2025FebruaryMarchApril
2.03
1.64
PAFRX
FFRAX

Dividends

PAFRX vs. FFRAX - Dividend Comparison

PAFRX's dividend yield for the trailing twelve months is around 7.16%, less than FFRAX's 7.91% yield.


TTM20242023202220212020201920182017201620152014
PAFRX
T. Rowe Price Floating Rate Fund
7.16%7.97%8.14%5.00%3.64%3.79%4.62%4.65%3.84%3.85%3.96%3.75%
FFRAX
Fidelity Advisor Floating Rate High Income Fund Class A
7.91%8.03%7.95%4.73%2.94%3.55%4.86%4.41%3.73%3.66%3.96%3.70%

Drawdowns

PAFRX vs. FFRAX - Drawdown Comparison

The maximum PAFRX drawdown since its inception was -19.95%, smaller than the maximum FFRAX drawdown of -22.22%. Use the drawdown chart below to compare losses from any high point for PAFRX and FFRAX. For additional features, visit the drawdowns tool.


-3.50%-3.00%-2.50%-2.00%-1.50%-1.00%-0.50%0.00%NovemberDecember2025FebruaryMarchApril
-1.61%
-1.57%
PAFRX
FFRAX

Volatility

PAFRX vs. FFRAX - Volatility Comparison

The current volatility for T. Rowe Price Floating Rate Fund (PAFRX) is 1.56%, while Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) has a volatility of 2.14%. This indicates that PAFRX experiences smaller price fluctuations and is considered to be less risky than FFRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%0.50%1.00%1.50%2.00%NovemberDecember2025FebruaryMarchApril
1.56%
2.14%
PAFRX
FFRAX