PAFRX vs. FFRAX
Compare and contrast key facts about T. Rowe Price Floating Rate Fund (PAFRX) and Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX).
PAFRX is managed by T. Rowe Price. It was launched on Jul 28, 2011. FFRAX is managed by Fidelity. It was launched on Aug 16, 2000.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PAFRX or FFRAX.
Correlation
The correlation between PAFRX and FFRAX is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PAFRX vs. FFRAX - Performance Comparison
Key characteristics
PAFRX:
3.39
FFRAX:
3.10
PAFRX:
10.56
FFRAX:
8.06
PAFRX:
3.60
FFRAX:
2.84
PAFRX:
11.18
FFRAX:
8.77
PAFRX:
61.96
FFRAX:
43.81
PAFRX:
0.14%
FFRAX:
0.17%
PAFRX:
2.48%
FFRAX:
2.43%
PAFRX:
-19.95%
FFRAX:
-22.22%
PAFRX:
-0.21%
FFRAX:
-0.53%
Returns By Period
The year-to-date returns for both investments are quite close, with PAFRX having a 7.38% return and FFRAX slightly higher at 7.57%. Both investments have delivered pretty close results over the past 10 years, with PAFRX having a 4.43% annualized return and FFRAX not far behind at 4.42%.
PAFRX
7.38%
0.00%
3.81%
8.29%
4.87%
4.43%
FFRAX
7.57%
-0.21%
3.62%
7.68%
4.97%
4.42%
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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.
Risk-Adjusted Performance
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.
Dividends
PAFRX vs. FFRAX - Dividend Comparison
PAFRX's dividend yield for the trailing twelve months is around 7.49%, more than FFRAX's 7.36% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAFRX T. Rowe Price Floating Rate Fund | 7.49% | 8.14% | 5.00% | 3.64% | 3.79% | 4.62% | 4.65% | 3.84% | 3.85% | 3.96% | 3.75% | 3.42% |
FFRAX Fidelity Advisor Floating Rate High Income Fund Class A | 7.36% | 7.95% | 4.73% | 2.94% | 3.55% | 4.86% | 4.41% | 3.73% | 3.66% | 3.96% | 3.70% | 3.18% |
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.
Volatility
PAFRX vs. FFRAX - Volatility Comparison
The current volatility for T. Rowe Price Floating Rate Fund (PAFRX) is 0.22%, while Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) has a volatility of 0.34%. 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.