PNAIX vs. PRFRX
PNAIX (T. Rowe Price All-Cap Opportunities Fund I Class) and PRFRX (T. Rowe Price Floating Rate Fund - Investor Class) are both mutual funds - PNAIX is a Large Cap Growth Equities fund tracking the Russell 3000 Index, while PRFRX is a High Yield Bonds fund managed by T. Rowe Price. Over the past 10 years, PNAIX returned 14.93%/yr vs 6.39%/yr for PRFRX. Their 0.24 correlation means their historical movements had little consistent relationship. PNAIX charges 0.66%/yr vs 0.76%/yr for PRFRX.
Performance
PNAIX vs. PRFRX - Performance Comparison
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Returns By Period
In the year-to-date period, PNAIX achieves a -1.01% return, which is significantly lower than PRFRX's 1.84% return. Over the past 10 years, PNAIX has outperformed PRFRX with an annualized return of 14.93%, while PRFRX has yielded a comparatively lower 6.39% annualized return.
PNAIX
- 1D
- 1.76%
- 1M
- -1.38%
- 6M
- -0.10%
- YTD
- -1.01%
- 1Y
- 7.71%
- 3Y*
- 14.96%
- 5Y*
- 8.68%
- 10Y*
- 14.93%
- ALL TIME*
- 14.47%
PRFRX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.93%
- YTD
- 1.84%
- 1Y
- 4.74%
- 3Y*
- 11.42%
- 5Y*
- 9.04%
- 10Y*
- 6.39%
- ALL TIME*
- 5.49%
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 |
PNAIX vs. PRFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNAIX T. Rowe Price All-Cap Opportunities Fund I Class | -1.01% | 16.53% | 25.43% | 29.18% | -21.25% | 20.76% | 44.92% | 35.66% | 1.40% | 20.15% |
PRFRX T. Rowe Price Floating Rate Fund - Investor Class | 1.84% | 7.78% | 16.63% | 20.66% | -1.95% | 4.60% | 1.75% | 8.46% | -0.08% | 3.48% |
Correlation
The correlation between PNAIX and PRFRX is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.28 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.24 |
The correlation between PNAIX and PRFRX shifts across timeframes, from 0.24 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PNAIX vs. PRFRX — Risk / Return Rank
PNAIX
PRFRX
PNAIX vs. PRFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price All-Cap Opportunities Fund I Class (PNAIX) and T. Rowe Price Floating Rate Fund - Investor Class (PRFRX). 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.
| PNAIX | PRFRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -3.62 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.63 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 3.02 | -2.61 |
| Martin ratioReturn relative to average drawdown | 1.41 | 10.89 | -9.48 |
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Drawdowns
PNAIX vs. PRFRX - Drawdown Comparison
The maximum PNAIX drawdown since its inception was -30.49%, which is greater than PRFRX's maximum drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for PNAIX and PRFRX.
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Drawdown Indicators
| PNAIX | PRFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.49% | -20.05% | -10.44% |
Max Drawdown (1Y)Largest decline over 1 year | -14.02% | -1.50% | -12.52% |
Max Drawdown (3Y)Largest decline over 3 years | -19.05% | -2.07% | -16.98% |
Max Drawdown (5Y)Largest decline over 5 years | -29.29% | -5.94% | -23.35% |
Max Drawdown (10Y)Largest decline over 10 years | -30.49% | -20.05% | -10.44% |
Current DrawdownCurrent decline from peak | -2.93% | -0.22% | -2.71% |
Average DrawdownAverage peak-to-trough decline | -5.48% | -0.68% | -4.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 0.42% | +3.67% |
Volatility
PNAIX vs. PRFRX - Volatility Comparison
T. Rowe Price All-Cap Opportunities Fund I Class (PNAIX) has a higher volatility of 4.17% compared to T. Rowe Price Floating Rate Fund - Investor Class (PRFRX) at 0.30%. This indicates that PNAIX's price experiences larger fluctuations and is considered to be riskier than PRFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNAIX | PRFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 0.30% | +3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 11.97% | 1.78% | +10.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.62% | 2.44% | +12.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.77% | 3.15% | +14.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.18% | 4.00% | +15.18% |
PNAIX vs. PRFRX - Expense Ratio Comparison
PNAIX has a 0.66% expense ratio, which is lower than PRFRX's 0.76% expense ratio.
Dividends
PNAIX vs. PRFRX - Dividend Comparison
PNAIX's dividend yield for the trailing twelve months is around 8.62%, more than PRFRX's 6.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNAIX T. Rowe Price All-Cap Opportunities Fund I Class | 8.62% | 8.53% | 9.37% | 5.23% | 3.31% | 20.62% | 15.56% | 7.43% | 12.75% | 0.29% | 0.00% | 0.00% |
PRFRX T. Rowe Price Floating Rate Fund - Investor Class | 6.76% | 8.11% | 15.09% | 15.33% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
Frequently Asked Questions
PNAIX and PRFRX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PNAIX has higher volatility (4.17%) compared to PRFRX (0.30%). In terms of maximum drawdown, PNAIX dropped -30.49% vs PRFRX's -20.05%.
PRFRX currently has the higher Sharpe Ratio (1.92 vs 0.40), 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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