PREFX vs. FBND
Compare and contrast key facts about T. Rowe Price Tax-Efficient Equity Fund (PREFX) and Fidelity Total Bond ETF (FBND).
PREFX is managed by T. Rowe Price. It was launched on Dec 29, 2000. FBND is an actively managed fund by Fidelity. It was launched on Oct 6, 2014.
Performance
PREFX vs. FBND - Performance Comparison
Loading graphics...
PREFX vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PREFX T. Rowe Price Tax-Efficient Equity Fund | -9.48% | 16.30% | 32.37% | 36.98% | -30.52% | 22.19% | 35.32% | 36.59% | -0.46% | 28.80% |
FBND Fidelity Total Bond ETF | 0.12% | 7.57% | 2.13% | 6.81% | -12.54% | -0.43% | 9.41% | 9.82% | -0.57% | 3.52% |
Returns By Period
In the year-to-date period, PREFX achieves a -9.48% return, which is significantly lower than FBND's 0.12% return. Over the past 10 years, PREFX has outperformed FBND with an annualized return of 14.98%, while FBND has yielded a comparatively lower 2.78% annualized return.
PREFX
- 1D
- 3.81%
- 1M
- -5.76%
- YTD
- -9.48%
- 6M
- -9.30%
- 1Y
- 15.23%
- 3Y*
- 19.43%
- 5Y*
- 9.56%
- 10Y*
- 14.98%
FBND
- 1D
- -0.02%
- 1M
- -1.32%
- YTD
- 0.12%
- 6M
- 0.77%
- 1Y
- 4.53%
- 3Y*
- 4.42%
- 5Y*
- 1.01%
- 10Y*
- 2.78%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
PREFX vs. FBND - Expense Ratio Comparison
PREFX has a 0.76% expense ratio, which is higher than FBND's 0.36% expense ratio.
Return for Risk
PREFX vs. FBND — Risk / Return Rank
PREFX
FBND
PREFX vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Tax-Efficient Equity Fund (PREFX) and Fidelity Total Bond ETF (FBND). 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.
| PREFX | FBND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.75 | 1.03 | -0.27 |
Sortino ratioReturn per unit of downside risk | 1.25 | 1.44 | -0.19 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.18 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.84 | 1.69 | -0.85 |
Martin ratioReturn relative to average drawdown | 2.76 | 5.25 | -2.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| PREFX | FBND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 1.03 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.17 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.46 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.44 | 0.00 |
Correlation
The correlation between PREFX and FBND is 0.12, 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.
Dividends
PREFX vs. FBND - Dividend Comparison
PREFX has not paid dividends to shareholders, while FBND's dividend yield for the trailing twelve months is around 4.73%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PREFX T. Rowe Price Tax-Efficient Equity Fund | 0.00% | 0.00% | 0.85% | 0.61% | 0.88% | 2.09% | 1.98% | 0.94% | 1.36% | 2.82% | 0.22% | 0.55% |
FBND Fidelity Total Bond ETF | 4.73% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
Drawdowns
PREFX vs. FBND - Drawdown Comparison
The maximum PREFX drawdown since its inception was -56.70%, which is greater than FBND's maximum drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for PREFX and FBND.
Loading graphics...
Drawdown Indicators
| PREFX | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.70% | -17.25% | -39.45% |
Max Drawdown (1Y)Largest decline over 1 year | -16.18% | -2.79% | -13.39% |
Max Drawdown (5Y)Largest decline over 5 years | -35.95% | -17.25% | -18.70% |
Max Drawdown (10Y)Largest decline over 10 years | -35.95% | -17.25% | -18.70% |
Current DrawdownCurrent decline from peak | -12.99% | -1.80% | -11.19% |
Average DrawdownAverage peak-to-trough decline | -10.31% | -3.38% | -6.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.95% | 0.90% | +4.05% |
Volatility
PREFX vs. FBND - Volatility Comparison
T. Rowe Price Tax-Efficient Equity Fund (PREFX) has a higher volatility of 6.84% compared to Fidelity Total Bond ETF (FBND) at 1.66%. This indicates that PREFX's price experiences larger fluctuations and is considered to be riskier than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| PREFX | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 1.66% | +5.18% |
Volatility (6M)Calculated over the trailing 6-month period | 12.36% | 2.62% | +9.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.29% | 4.44% | +17.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.68% | 5.90% | +15.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 6.08% | +15.13% |