PAFRX vs. SPY
Compare and contrast key facts about T. Rowe Price Floating Rate Fund (PAFRX) and SPDR S&P 500 ETF (SPY).
PAFRX is managed by T. Rowe Price. It was launched on Jul 28, 2011. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PAFRX or SPY.
Correlation
The correlation between PAFRX and SPY 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.
Performance
PAFRX vs. SPY - Performance Comparison
Key characteristics
PAFRX:
2.61
SPY:
0.68
PAFRX:
7.00
SPY:
0.98
PAFRX:
2.40
SPY:
1.13
PAFRX:
6.38
SPY:
0.95
PAFRX:
26.06
SPY:
3.13
PAFRX:
0.24%
SPY:
3.03%
PAFRX:
2.37%
SPY:
13.89%
PAFRX:
-19.95%
SPY:
-55.19%
PAFRX:
-0.97%
SPY:
-7.62%
Returns By Period
In the year-to-date period, PAFRX achieves a -0.07% return, which is significantly higher than SPY's -3.39% return. Over the past 10 years, PAFRX has underperformed SPY with an annualized return of 4.26%, while SPY has yielded a comparatively higher 12.54% annualized return.
PAFRX
-0.07%
-0.86%
2.14%
6.28%
7.66%
4.26%
SPY
-3.39%
-3.01%
-0.13%
10.19%
19.68%
12.54%
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PAFRX vs. SPY - Expense Ratio Comparison
PAFRX has a 0.97% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
PAFRX vs. SPY — Risk-Adjusted Performance Rank
PAFRX
SPY
PAFRX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PAFRX) and SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
PAFRX's dividend yield for the trailing twelve months is around 7.12%, more than SPY's 1.27% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAFRX T. Rowe Price Floating Rate Fund | 7.12% | 7.98% | 8.14% | 5.00% | 3.64% | 3.79% | 4.62% | 4.65% | 3.84% | 3.85% | 3.96% | 3.75% |
SPY SPDR S&P 500 ETF | 1.27% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
PAFRX vs. SPY - Drawdown Comparison
The maximum PAFRX drawdown since its inception was -19.95%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PAFRX and SPY. For additional features, visit the drawdowns tool.
Volatility
PAFRX vs. SPY - Volatility Comparison
The current volatility for T. Rowe Price Floating Rate Fund (PAFRX) is 0.36%, while SPDR S&P 500 ETF (SPY) has a volatility of 5.76%. This indicates that PAFRX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.