PFFRX vs. BGT
PFFRX (T. Rowe Price Institutional Floating Rate Fund Class F) and BGT (BlackRock Floating Rate Income Trust) are both Bank Loan funds. Over the past 10 years, PFFRX returned 4.60%/yr vs 6.51%/yr for BGT. At a 0.21 correlation, their price movements are largely independent. PFFRX charges 0.70%/yr vs 1.74%/yr for BGT.
Performance
PFFRX vs. BGT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PFFRX achieves a 1.10% return, which is significantly lower than BGT's 3.58% return. Over the past 10 years, PFFRX has underperformed BGT with an annualized return of 4.60%, while BGT has yielded a comparatively higher 6.51% annualized return.
PFFRX
- 1D
- 0.00%
- 1M
- 0.56%
- 6M
- 0.99%
- YTD
- 1.10%
- 1Y
- 4.20%
- 3Y*
- 6.69%
- 5Y*
- 5.09%
- 10Y*
- 4.60%
- ALL TIME*
- 4.48%
BGT
- 1D
- 1.49%
- 1M
- 3.31%
- 6M
- 0.99%
- YTD
- 3.58%
- 1Y
- -1.96%
- 3Y*
- 9.80%
- 5Y*
- 7.16%
- 10Y*
- 6.51%
- ALL TIME*
- 5.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.50M | $1.26M | $1.14M | |
| $0.00 | $0.00 | $0.00 |
PFFRX vs. BGT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFFRX T. Rowe Price Institutional Floating Rate Fund Class F | 1.10% | 6.57% | 7.54% | 10.89% | -2.14% | 4.64% | 2.29% | 8.69% | 0.16% | 3.66% |
BGT BlackRock Floating Rate Income Trust | 3.58% | -0.84% | 16.12% | 26.29% | -16.57% | 25.89% | -0.81% | 18.97% | -11.95% | 3.91% |
Correlation
The correlation between PFFRX and BGT is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2010 | 0.21 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PFFRX vs. BGT — Risk / Return Rank
PFFRX
BGT
PFFRX vs. BGT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Floating Rate Fund Class F (PFFRX) and BlackRock Floating Rate Income Trust (BGT). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PFFRX | BGT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.09 | ||
| Sortino ratioReturn per unit of downside risk | +4.23 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 0.97 | +0.66 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | -0.18 | +3.08 |
| Martin ratioReturn relative to average drawdown | 9.43 | -0.37 | +9.79 |
Loading charts...
Drawdowns
PFFRX vs. BGT - Drawdown Comparison
The maximum PFFRX drawdown since its inception was -19.70%, smaller than the maximum BGT drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for PFFRX and BGT.
Loading charts...
Drawdown Indicators
| PFFRX | BGT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.70% | -58.06% | +38.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.46% | -11.06% | +9.60% |
Max Drawdown (3Y)Largest decline over 3 years | -2.29% | -15.91% | +13.62% |
Max Drawdown (5Y)Largest decline over 5 years | -6.05% | -23.19% | +17.14% |
Max Drawdown (10Y)Largest decline over 10 years | -19.70% | -41.90% | +22.20% |
Current DrawdownCurrent decline from peak | -0.19% | -2.73% | +2.54% |
Average DrawdownAverage peak-to-trough decline | -0.68% | -8.10% | +7.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 5.38% | -4.93% |
Volatility
PFFRX vs. BGT - Volatility Comparison
The current volatility for T. Rowe Price Institutional Floating Rate Fund Class F (PFFRX) is 0.54%, while BlackRock Floating Rate Income Trust (BGT) has a volatility of 3.04%. This indicates that PFFRX experiences smaller price fluctuations and is considered to be less risky than BGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PFFRX | BGT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 3.04% | -2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 1.65% | 7.35% | -5.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.24% | 9.92% | -7.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.72% | 13.59% | -10.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 15.34% | -11.55% |
PFFRX vs. BGT - Expense Ratio Comparison
PFFRX has a 0.70% expense ratio, which is lower than BGT's 1.74% expense ratio.
Dividends
PFFRX vs. BGT - Dividend Comparison
PFFRX's dividend yield for the trailing twelve months is around 6.30%, less than BGT's 13.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGT BlackRock Floating Rate Income Trust | 13.28% | 12.74% | 11.22% | 10.36% | 6.87% | 5.55% | 7.58% | 6.33% | 6.64% | 5.03% | 5.03% | 6.04% |
PFFRX T. Rowe Price Institutional Floating Rate Fund Class F | 6.30% | 7.09% | 6.92% | 7.21% | 4.03% | 3.81% | 4.18% | 5.01% | 5.04% | 4.20% | 4.18% | 4.32% |
Frequently Asked Questions
PFFRX and BGT have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGT has higher volatility (3.04%) compared to PFFRX (0.54%). In terms of maximum drawdown, PFFRX dropped -19.70% vs BGT's -58.06%.
PFFRX currently has the higher Sharpe Ratio (1.89 vs -0.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for PFFRX and BGT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer