PBDIX vs. RPIFX
Compare and contrast key facts about T. Rowe Price QM U.S. Bond Index Fund (PBDIX) and T. Rowe Price Institutional Floating Rate Fund (RPIFX).
PBDIX is managed by T. Rowe Price. RPIFX is managed by T. Rowe Price. It was launched on Jan 30, 2008.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PBDIX or RPIFX.
Key characteristics
| PBDIX | RPIFX | |
|---|---|---|
| YTD Return | 2.35% | 7.69% |
| 1Y Return | 9.07% | 10.51% |
| 3Y Return (Ann) | -2.58% | 6.55% |
| 5Y Return (Ann) | 0.27% | 5.65% |
| 10Y Return (Ann) | 1.63% | 4.82% |
| Sharpe Ratio | 1.35 | 3.84 |
| Sortino Ratio | 2.00 | 12.82 |
| Omega Ratio | 1.24 | 4.07 |
| Calmar Ratio | 0.49 | 14.23 |
| Martin Ratio | 4.93 | 81.15 |
| Ulcer Index | 1.65% | 0.13% |
| Daily Std Dev | 6.04% | 2.74% |
| Max Drawdown | -19.26% | -22.53% |
| Current Drawdown | -8.88% | 0.00% |
Correlation
The correlation between PBDIX and RPIFX is 0.07, 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
PBDIX vs. RPIFX - Performance Comparison
In the year-to-date period, PBDIX achieves a 2.35% return, which is significantly lower than RPIFX's 7.69% return. Over the past 10 years, PBDIX has underperformed RPIFX with an annualized return of 1.63%, while RPIFX has yielded a comparatively higher 4.82% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PBDIX vs. RPIFX - Expense Ratio Comparison
PBDIX has a 0.23% expense ratio, which is lower than RPIFX's 0.57% expense ratio.
Risk-Adjusted Performance
PBDIX vs. RPIFX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price QM U.S. Bond Index Fund (PBDIX) 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.
Dividends
PBDIX vs. RPIFX - Dividend Comparison
PBDIX's dividend yield for the trailing twelve months is around 3.97%, less than RPIFX's 8.67% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBDIX T. Rowe Price QM U.S. Bond Index Fund | 3.97% | 3.49% | 2.74% | 1.85% | 4.85% | 2.92% | 2.94% | 2.75% | 2.78% | 2.90% | 2.86% | 3.05% |
RPIFX T. Rowe Price Institutional Floating Rate Fund | 8.67% | 8.66% | 5.51% | 3.95% | 4.30% | 5.12% | 5.17% | 4.32% | 4.32% | 4.46% | 4.37% | 4.21% |
Drawdowns
PBDIX vs. RPIFX - Drawdown Comparison
The maximum PBDIX drawdown since its inception was -19.26%, smaller than the maximum RPIFX drawdown of -22.53%. Use the drawdown chart below to compare losses from any high point for PBDIX and RPIFX. For additional features, visit the drawdowns tool.
Volatility
PBDIX vs. RPIFX - Volatility Comparison
T. Rowe Price QM U.S. Bond Index Fund (PBDIX) has a higher volatility of 1.59% compared to T. Rowe Price Institutional Floating Rate Fund (RPIFX) at 0.83%. This indicates that PBDIX'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.