PRFRX vs. CAPL
PRFRX (T. Rowe Price Floating Rate Fund) is High Yield Bonds fund managed by T. Rowe Price, while CAPL (CrossAmerica Partners LP) is a stock. Over the past 10 years, PRFRX returned 5.54%/yr vs 10.12%/yr for CAPL. At a 0.10 correlation, their price movements are largely independent.
Performance
PRFRX vs. CAPL - Performance Comparison
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Returns By Period
In the year-to-date period, PRFRX achieves a 0.95% return, which is significantly lower than CAPL's 11.96% return. Over the past 10 years, PRFRX has underperformed CAPL with an annualized return of 5.54%, while CAPL has yielded a comparatively higher 10.12% annualized return.
PRFRX
- 1D
- 0.00%
- 1M
- 0.12%
- YTD
- 0.95%
- 6M
- 2.23%
- 1Y
- 7.80%
- 3Y*
- 9.72%
- 5Y*
- 6.99%
- 10Y*
- 5.54%
CAPL
- 1D
- 1.52%
- 1M
- -3.17%
- YTD
- 11.96%
- 6M
- 10.77%
- 1Y
- 13.22%
- 3Y*
- 14.56%
- 5Y*
- 12.68%
- 10Y*
- 10.12%
PRFRX vs. CAPL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRFRX T. Rowe Price Floating Rate Fund | 0.95% | 9.82% | 11.04% | 13.78% | -1.95% | 4.60% | 1.75% | 8.46% | -0.08% | 3.48% |
CAPL CrossAmerica Partners LP | 11.96% | 2.89% | 6.27% | 26.71% | 14.99% | 22.91% | 9.01% | 43.57% | -33.07% | 3.68% |
Correlation
The correlation between PRFRX and CAPL is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2012 | 0.10 |
The correlation between PRFRX and CAPL shifts across timeframes, from -0.08 (1 year) to 0.11 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRFRX vs. CAPL — Risk / Return Rank
PRFRX
CAPL
PRFRX vs. CAPL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PRFRX) and CrossAmerica Partners LP (CAPL). 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.
| PRFRX | CAPL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.35 | ||
| Sortino ratioReturn per unit of downside risk | +6.53 | ||
| Omega ratioGain probability vs. loss probability | 2.17 | 1.12 | +1.05 |
| Calmar ratioReturn relative to maximum drawdown | 5.22 | 0.91 | +4.32 |
| Martin ratioReturn relative to average drawdown | 19.34 | 2.58 | +16.75 |
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Drawdowns
PRFRX vs. CAPL - Drawdown Comparison
The maximum PRFRX drawdown since its inception was -20.05%, smaller than the maximum CAPL drawdown of -69.32%. Use the drawdown chart below to compare losses from any high point for PRFRX and CAPL.
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Drawdown Indicators
| PRFRX | CAPL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.05% | -69.32% | +49.27% |
Max Drawdown (1Y)Largest decline over 1 year | -1.50% | -14.59% | +13.09% |
Max Drawdown (3Y)Largest decline over 3 years | -2.35% | -18.25% | +15.90% |
Max Drawdown (5Y)Largest decline over 5 years | -5.94% | -19.80% | +13.86% |
Max Drawdown (10Y)Largest decline over 10 years | -20.05% | -66.92% | +46.87% |
Current DrawdownCurrent decline from peak | -0.44% | -4.52% | +4.08% |
Average DrawdownAverage peak-to-trough decline | -0.69% | -16.55% | +15.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 5.14% | -4.74% |
Volatility
PRFRX vs. CAPL - Volatility Comparison
The current volatility for T. Rowe Price Floating Rate Fund (PRFRX) is 0.63%, while CrossAmerica Partners LP (CAPL) has a volatility of 6.85%. This indicates that PRFRX experiences smaller price fluctuations and is considered to be less risky than CAPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRFRX | CAPL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 6.85% | -6.22% |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | 16.43% | -14.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.65% | 21.67% | -19.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.91% | 25.25% | -22.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.92% | 40.69% | -36.77% |
Dividends
PRFRX vs. CAPL - Dividend Comparison
PRFRX's dividend yield for the trailing twelve months is around 9.25%, less than CAPL's 9.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAPL CrossAmerica Partners LP | 9.56% | 10.19% | 9.55% | 9.21% | 10.59% | 11.02% | 12.23% | 11.63% | 15.55% | 10.44% | 9.53% | 8.60% |
PRFRX T. Rowe Price Floating Rate Fund | 9.25% | 9.99% | 10.20% | 9.57% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
Frequently Asked Questions
PRFRX and CAPL have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CAPL has higher volatility (6.85%) compared to PRFRX (0.63%). In terms of maximum drawdown, PRFRX dropped -20.05% vs CAPL's -69.32%.
PRFRX currently has the higher Sharpe Ratio (2.96 vs 0.61), 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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