Correlation
The correlation between PRCIX and LQD is 0.02, 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.
PRCIX vs. LQD
Compare and contrast key facts about T. Rowe Price New Income Fund (PRCIX) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD).
PRCIX is managed by T. Rowe Price. It was launched on Aug 31, 1973. LQD is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid Investment Grade Index. It was launched on Jul 26, 2002.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRCIX or LQD.
Performance
PRCIX vs. LQD - Performance Comparison
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Key characteristics
PRCIX:
0.97
LQD:
0.78
PRCIX:
1.54
LQD:
1.12
PRCIX:
1.18
LQD:
1.14
PRCIX:
0.41
LQD:
0.41
PRCIX:
2.63
LQD:
2.08
PRCIX:
2.14%
LQD:
2.84%
PRCIX:
5.42%
LQD:
7.58%
PRCIX:
-19.15%
LQD:
-24.95%
PRCIX:
-8.47%
LQD:
-9.02%
Returns By Period
In the year-to-date period, PRCIX achieves a 1.85% return, which is significantly lower than LQD's 2.42% return. Over the past 10 years, PRCIX has underperformed LQD with an annualized return of 1.19%, while LQD has yielded a comparatively higher 2.61% annualized return.
PRCIX
1.85%
-0.75%
0.19%
4.78%
0.72%
-0.74%
1.19%
LQD
2.42%
0.56%
-0.32%
5.36%
2.13%
-0.62%
2.61%
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PRCIX vs. LQD - Expense Ratio Comparison
PRCIX has a 0.44% expense ratio, which is higher than LQD's 0.15% expense ratio.
Risk-Adjusted Performance
PRCIX vs. LQD — Risk-Adjusted Performance Rank
PRCIX
LQD
PRCIX vs. LQD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Income Fund (PRCIX) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). 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.
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Dividends
PRCIX vs. LQD - Dividend Comparison
PRCIX's dividend yield for the trailing twelve months is around 4.07%, less than LQD's 4.45% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRCIX T. Rowe Price New Income Fund | 4.07% | 4.49% | 3.82% | 2.45% | 2.63% | 3.32% | 2.87% | 3.04% | 2.66% | 2.56% | 2.56% | 2.60% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.45% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% | 3.39% |
Drawdowns
PRCIX vs. LQD - Drawdown Comparison
The maximum PRCIX drawdown since its inception was -19.15%, smaller than the maximum LQD drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for PRCIX and LQD.
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Volatility
PRCIX vs. LQD - Volatility Comparison
The current volatility for T. Rowe Price New Income Fund (PRCIX) is 1.45%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 2.07%. This indicates that PRCIX experiences smaller price fluctuations and is considered to be less risky than LQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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