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.
Correlation
The correlation between PRCIX and LQD is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PRCIX vs. LQD - Performance Comparison
Key characteristics
PRCIX:
1.04
LQD:
0.88
PRCIX:
1.55
LQD:
1.29
PRCIX:
1.18
LQD:
1.15
PRCIX:
0.36
LQD:
0.38
PRCIX:
2.60
LQD:
2.40
PRCIX:
2.13%
LQD:
2.52%
PRCIX:
5.29%
LQD:
6.87%
PRCIX:
-19.97%
LQD:
-24.95%
PRCIX:
-9.59%
LQD:
-8.74%
Returns By Period
In the year-to-date period, PRCIX achieves a 1.65% return, which is significantly lower than LQD's 2.73% return. Over the past 10 years, PRCIX has underperformed LQD with an annualized return of 0.88%, while LQD has yielded a comparatively higher 2.31% annualized return.
PRCIX
1.65%
1.78%
-0.27%
5.26%
-1.48%
0.88%
LQD
2.73%
2.46%
-0.18%
6.07%
-0.21%
2.31%
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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.
Dividends
PRCIX vs. LQD - Dividend Comparison
PRCIX's dividend yield for the trailing twelve months is around 4.09%, less than LQD's 4.34% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRCIX T. Rowe Price New Income Fund | 4.09% | 4.48% | 3.82% | 2.45% | 1.59% | 2.41% | 2.87% | 3.04% | 2.66% | 2.56% | 2.56% | 2.60% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.34% | 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 -19.97%, 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. For additional features, visit the drawdowns tool.
Volatility
PRCIX vs. LQD - Volatility Comparison
The current volatility for T. Rowe Price New Income Fund (PRCIX) is 1.38%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 1.85%. 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.