PFFRX vs. LFRIX
PFFRX (T. Rowe Price Institutional Floating Rate Fund Class F) and LFRIX (Lord Abbett Floating Rate Fund) are both Bank Loan funds. Over the past 10 years, PFFRX returned 4.53%/yr vs 4.47%/yr for LFRIX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. PFFRX charges 0.70%/yr vs 0.60%/yr for LFRIX.
Performance
PFFRX vs. LFRIX - Performance Comparison
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Returns By Period
In the year-to-date period, PFFRX achieves a 0.77% return, which is significantly lower than LFRIX's 2.32% return. Both investments have delivered pretty close results over the past 10 years, with PFFRX having a 4.53% annualized return and LFRIX not far behind at 4.47%.
PFFRX
- 1D
- -0.11%
- 1M
- -0.11%
- 6M
- 0.74%
- YTD
- 0.77%
- 1Y
- 3.56%
- 3Y*
- 6.36%
- 5Y*
- 4.98%
- 10Y*
- 4.53%
- ALL TIME*
- 4.45%
LFRIX
- 1D
- -0.12%
- 1M
- -0.25%
- 6M
- 2.13%
- YTD
- 2.32%
- 1Y
- 5.39%
- 3Y*
- 7.05%
- 5Y*
- 5.47%
- 10Y*
- 4.47%
- ALL TIME*
- 4.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PFFRX vs. LFRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFFRX T. Rowe Price Institutional Floating Rate Fund Class F | 0.77% | 6.57% | 7.54% | 10.89% | -2.14% | 4.64% | 2.29% | 8.69% | 0.16% | 3.66% |
LFRIX Lord Abbett Floating Rate Fund | 2.32% | 6.30% | 8.28% | 12.22% | -2.99% | 5.48% | -1.47% | 7.59% | -0.01% | 3.97% |
Correlation
The correlation between PFFRX and LFRIX is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.43 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2010 | 0.68 |
Over the past year, the correlation between PFFRX and LFRIX has dropped to 0.43 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
PFFRX vs. LFRIX — Risk / Return Rank
PFFRX
LFRIX
PFFRX vs. LFRIX - 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 Lord Abbett Floating Rate Fund (LFRIX). 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 | LFRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.78 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 3.40 | -1.01 |
| Martin ratioReturn relative to average drawdown | 7.65 | 12.60 | -4.95 |
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Drawdowns
PFFRX vs. LFRIX - Drawdown Comparison
The maximum PFFRX drawdown since its inception was -19.70%, smaller than the maximum LFRIX drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for PFFRX and LFRIX.
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Drawdown Indicators
| PFFRX | LFRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.70% | -27.90% | +8.20% |
Max Drawdown (1Y)Largest decline over 1 year | -1.46% | -1.55% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -2.29% | -2.59% | +0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -6.05% | -6.23% | +0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -19.70% | -21.75% | +2.05% |
Current DrawdownCurrent decline from peak | -0.51% | -0.37% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -0.68% | -1.93% | +1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.42% | +0.03% |
Volatility
PFFRX vs. LFRIX - Volatility Comparison
The current volatility for T. Rowe Price Institutional Floating Rate Fund Class F (PFFRX) is 0.31%, while Lord Abbett Floating Rate Fund (LFRIX) has a volatility of 0.34%. This indicates that PFFRX experiences smaller price fluctuations and is considered to be less risky than LFRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFFRX | LFRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.31% | 0.34% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 1.90% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.20% | 2.44% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.71% | 2.87% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 3.91% | -0.12% |
PFFRX vs. LFRIX - Expense Ratio Comparison
PFFRX has a 0.70% expense ratio, which is higher than LFRIX's 0.60% expense ratio.
Dividends
PFFRX vs. LFRIX - Dividend Comparison
PFFRX's dividend yield for the trailing twelve months is around 5.70%, less than LFRIX's 6.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LFRIX Lord Abbett Floating Rate Fund | 6.24% | 7.20% | 7.68% | 7.63% | 3.95% | 4.01% | 4.64% | 5.71% | 5.60% | 4.65% | 4.64% | 4.72% |
PFFRX T. Rowe Price Institutional Floating Rate Fund Class F | 5.70% | 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 LFRIX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LFRIX has higher volatility (0.34%) compared to PFFRX (0.31%). In terms of maximum drawdown, PFFRX dropped -19.70% vs LFRIX's -27.90%.
LFRIX currently has the higher Sharpe Ratio (2.20 vs 1.58), 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.
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