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:
2.03
SPY:
0.51
PAFRX:
3.64
SPY:
0.86
PAFRX:
1.85
SPY:
1.13
PAFRX:
1.90
SPY:
0.55
PAFRX:
9.36
SPY:
2.26
PAFRX:
0.61%
SPY:
4.55%
PAFRX:
2.81%
SPY:
20.08%
PAFRX:
-19.95%
SPY:
-55.19%
PAFRX:
-1.61%
SPY:
-9.89%
Returns By Period
In the year-to-date period, PAFRX achieves a -0.72% return, which is significantly higher than SPY's -5.76% return. Over the past 10 years, PAFRX has underperformed SPY with an annualized return of 4.16%, while SPY has yielded a comparatively higher 12.04% annualized return.
PAFRX
-0.72%
-0.97%
1.36%
5.70%
6.69%
4.16%
SPY
-5.76%
-2.90%
-4.30%
9.72%
15.64%
12.04%
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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 7.16%, more than SPY's 1.30% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPY SPDR S&P 500 ETF | 1.30% | 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 1.56%, while SPDR S&P 500 ETF (SPY) has a volatility of 15.12%. 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.