PRCIX vs. SSAFX
PRCIX (T. Rowe Price New Income Fund) and SSAFX (State Street Aggregate Bond Index Portfolio) are both Intermediate Core Bond funds. Over the past 10 years, PRCIX returned 1.36%/yr vs 27.54%/yr for SSAFX. Their correlation of 0.90 means they have usually moved in the same direction. PRCIX charges 0.44%/yr vs 0.02%/yr for SSAFX.
Performance
PRCIX vs. SSAFX - Performance Comparison
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Returns By Period
In the year-to-date period, PRCIX achieves a -0.68% return, which is significantly lower than SSAFX's -0.34% return. Over the past 10 years, PRCIX has underperformed SSAFX with an annualized return of 1.36%, while SSAFX has yielded a comparatively higher 27.54% annualized return.
PRCIX
- 1D
- 0.00%
- 1M
- -1.27%
- 6M
- -0.79%
- YTD
- -0.68%
- 1Y
- 3.10%
- 3Y*
- 4.52%
- 5Y*
- -0.33%
- 10Y*
- 1.36%
- ALL TIME*
- 3.55%
SSAFX
- 1D
- 0.06%
- 1M
- -0.87%
- 6M
- -0.53%
- YTD
- -0.34%
- 1Y
- 2.14%
- 3Y*
- 3.68%
- 5Y*
- -0.47%
- 10Y*
- 27.54%
- ALL TIME*
- 23.57%
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 |
PRCIX vs. SSAFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRCIX T. Rowe Price New Income Fund | -0.68% | 8.74% | 2.50% | 5.31% | -14.87% | -0.54% | 5.77% | 9.28% | -0.62% | 4.01% |
SSAFX State Street Aggregate Bond Index Portfolio | -0.34% | 6.81% | 1.34% | 5.61% | -13.30% | -1.72% | 978.57% | 8.69% | -0.12% | 3.38% |
Correlation
The correlation between PRCIX and SSAFX is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2014 | 0.90 |
The correlation between PRCIX and SSAFX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
PRCIX vs. SSAFX — Risk / Return Rank
PRCIX
SSAFX
PRCIX vs. SSAFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Income Fund (PRCIX) and State Street Aggregate Bond Index Portfolio (SSAFX). 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.
| PRCIX | SSAFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.14 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 1.10 | +0.32 |
| Martin ratioReturn relative to average drawdown | 3.84 | 2.77 | +1.07 |
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Drawdowns
PRCIX vs. SSAFX - Drawdown Comparison
The maximum PRCIX drawdown since its inception was -22.34%, which is greater than SSAFX's maximum drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for PRCIX and SSAFX.
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Drawdown Indicators
| PRCIX | SSAFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.34% | -18.74% | -3.60% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -2.74% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -5.00% | -4.97% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -19.65% | -18.09% | -1.56% |
Max Drawdown (10Y)Largest decline over 10 years | -19.65% | -18.74% | -0.91% |
Current DrawdownCurrent decline from peak | -2.22% | -3.36% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -4.39% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.09% | -0.01% |
Volatility
PRCIX vs. SSAFX - Volatility Comparison
T. Rowe Price New Income Fund (PRCIX) has a higher volatility of 1.05% compared to State Street Aggregate Bond Index Portfolio (SSAFX) at 0.97%. This indicates that PRCIX's price experiences larger fluctuations and is considered to be riskier than SSAFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRCIX | SSAFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.97% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 2.87% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 3.67% | +0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.98% | 5.95% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.96% | 277.46% | -272.50% |
PRCIX vs. SSAFX - Expense Ratio Comparison
PRCIX has a 0.44% expense ratio, which is higher than SSAFX's 0.02% expense ratio.
Dividends
PRCIX vs. SSAFX - Dividend Comparison
PRCIX's dividend yield for the trailing twelve months is around 5.60%, more than SSAFX's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRCIX T. Rowe Price New Income Fund | 5.60% | 5.94% | 5.65% | 4.37% | 1.80% | 2.65% | 3.33% | 2.88% | 3.03% | 2.66% | 2.56% | 2.55% |
SSAFX State Street Aggregate Bond Index Portfolio | 3.87% | 3.70% | 3.76% | 3.16% | 2.49% | 1.90% | 2.41% | 2.88% | 2.82% | 2.42% | 2.21% | 3.21% |
Frequently Asked Questions
PRCIX and SSAFX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRCIX has higher volatility (1.05%) compared to SSAFX (0.97%). In terms of maximum drawdown, PRCIX dropped -22.34% vs SSAFX's -18.74%.
PRCIX currently has the higher Sharpe Ratio (1.03 vs 0.82), 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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