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.
Key characteristics
| PRCIX | LQD | |
|---|---|---|
| YTD Return | 2.24% | 2.98% |
| 1Y Return | 9.00% | 12.92% |
| 3Y Return (Ann) | -3.43% | -3.03% |
| 5Y Return (Ann) | -0.91% | 0.61% |
| 10Y Return (Ann) | 1.02% | 2.62% |
| Sharpe Ratio | 1.33 | 1.55 |
| Sortino Ratio | 1.98 | 2.28 |
| Omega Ratio | 1.24 | 1.27 |
| Calmar Ratio | 0.45 | 0.60 |
| Martin Ratio | 5.10 | 5.59 |
| Ulcer Index | 1.57% | 2.11% |
| Daily Std Dev | 6.02% | 7.61% |
| Max Drawdown | -19.98% | -24.95% |
| Current Drawdown | -10.25% | -9.30% |
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
In the year-to-date period, PRCIX achieves a 2.24% return, which is significantly lower than LQD's 2.98% return. Over the past 10 years, PRCIX has underperformed LQD with an annualized return of 1.02%, while LQD has yielded a comparatively higher 2.62% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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 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 4.37%, which matches LQD's 4.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRCIX T. Rowe Price New Income Fund | 4.37% | 3.82% | 2.45% | 1.59% | 2.41% | 2.87% | 3.04% | 2.66% | 2.56% | 2.56% | 2.60% | 2.78% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.34% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% | 3.39% | 3.83% |
Drawdowns
PRCIX vs. LQD - Drawdown Comparison
The maximum PRCIX drawdown since its inception was -19.98%, 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 1.69%, while iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) has a volatility of 2.50%. 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.