PRFRX vs. DDJIX

Last updated Jun 3, 2026

PRFRX (T. Rowe Price Floating Rate Fund) and DDJIX (Polen DDJ Opportunistic High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, PRFRX returned 5.57%/yr vs 3.12%/yr for DDJIX. At a 0.43 correlation, their price movements are largely independent. PRFRX charges 0.75%/yr vs 0.79%/yr for DDJIX.

Performance

PRFRX vs. DDJIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Floating Rate Fund (PRFRX) and Polen DDJ Opportunistic High Yield Fund (DDJIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRFRX achieves a 1.96% return, which is significantly higher than DDJIX's 1.02% return. Over the past 10 years, PRFRX has outperformed DDJIX with an annualized return of 5.57%, while DDJIX has yielded a comparatively lower 3.12% annualized return.

PRFRX

• 1D: 0.00%
• 1M: 1.01%
• YTD: 1.96%
• 6M: 3.36%
• 1Y: 8.88%
• 3Y*: 10.41%
• 5Y*: 7.21%
• 10Y*: 5.57%

DDJIX

• 1D: 0.00%
• 1M: 0.15%
• YTD: 1.02%
• 6M: 2.03%
• 1Y: 3.44%
• 3Y*: 6.28%
• 5Y*: 1.95%
• 10Y*: 3.12%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PRFRX vs. DDJIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRFRX T. Rowe Price Floating Rate Fund	1.96%	9.82%	11.04%	13.78%	-1.95%	4.60%	1.75%	8.46%	-0.08%	3.48%
DDJIX Polen DDJ Opportunistic High Yield Fund	1.02%	3.23%	8.90%	10.63%	-13.73%	5.22%	3.49%	6.08%	-0.30%	7.15%

Correlation

The correlation between PRFRX and DDJIX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.43

Return for Risk

PRFRX vs. DDJIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRFRX

PRFRX Risk / Return Rank: 96
PRFRX Sharpe Ratio Rank: 95
PRFRX Sortino Ratio Rank: 99
PRFRX Omega Ratio Rank: 98
PRFRX Calmar Ratio Rank: 95
PRFRX Martin Ratio Rank: 95

DDJIX

DDJIX Risk / Return Rank: 9
DDJIX Sharpe Ratio Rank: 11
DDJIX Sortino Ratio Rank: 10
DDJIX Omega Ratio Rank: 11
DDJIX Calmar Ratio Rank: 8
DDJIX Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PRFRX vs. DDJIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PRFRX) and Polen DDJ Opportunistic High Yield Fund (DDJIX). 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.

	PRFRX	DDJIX	Difference
Sharpe ratio Return per unit of total volatility	3.32	0.87	+2.45
Sortino ratio Return per unit of downside risk	8.66	1.23	+7.43
Omega ratio Gain probability vs. loss probability	2.40	1.16	+1.23
Calmar ratio Return relative to maximum drawdown	5.92	0.83	+5.10
Martin ratio Return relative to average drawdown	22.48	2.26	+20.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRFRX vs. DDJIX - Sharpe Ratio Comparison

The current PRFRX Sharpe Ratio is 3.32, which is higher than the DDJIX Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of PRFRX and DDJIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PRFRX	DDJIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.32	0.87	+2.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.48	0.50	+1.98
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.43	0.69	+0.74
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	0.73	+0.70

Drawdowns

PRFRX vs. DDJIX - Drawdown Comparison

The maximum PRFRX drawdown since its inception was -20.05%, smaller than the maximum DDJIX drawdown of -21.42%. Use the drawdown chart below to compare losses from any high point for PRFRX and DDJIX.

Drawdown Indicators

	PRFRX	DDJIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.05%	-21.42%	+1.37%
Max Drawdown (1Y) Largest decline over 1 year	-1.50%	-2.94%	+1.44%
Max Drawdown (3Y) Largest decline over 3 years	-2.35%	-4.30%	+1.95%
Max Drawdown (5Y) Largest decline over 5 years	-5.94%	-15.53%	+9.59%
Max Drawdown (10Y) Largest decline over 10 years	-20.05%	-21.42%	+1.37%
Current Drawdown Current decline from peak	0.00%	-0.54%	+0.54%
Average Drawdown Average peak-to-trough decline	-0.69%	-3.05%	+2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	1.07%	-0.67%

Volatility

PRFRX vs. DDJIX - Volatility Comparison

T. Rowe Price Floating Rate Fund (PRFRX) and Polen DDJ Opportunistic High Yield Fund (DDJIX) have volatilities of 0.81% and 0.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFRX	DDJIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.81%	0.84%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	1.91%	2.53%	-0.62%
Volatility (1Y) Calculated over the trailing 1-year period	2.69%	3.26%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.92%	3.92%	-1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.92%	4.59%	-0.67%

PRFRX vs. DDJIX - Expense Ratio Comparison

PRFRX has a 0.75% expense ratio, which is lower than DDJIX's 0.79% expense ratio.

Dividends

PRFRX vs. DDJIX - Dividend Comparison

PRFRX's dividend yield for the trailing twelve months is around 9.76%, more than DDJIX's 7.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDJIX Polen DDJ Opportunistic High Yield Fund	7.61%	6.85%	7.99%	7.07%	4.54%	5.02%	7.01%	8.21%	9.08%	6.93%	0.00%	0.00%
PRFRX T. Rowe Price Floating Rate Fund	9.76%	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

Can I hold both PRFRX and DDJIX in my portfolio?

PRFRX and DDJIX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRFRX or DDJIX?

DDJIX has higher volatility (0.84%) compared to PRFRX (0.81%). In terms of maximum drawdown, PRFRX dropped -20.05% vs DDJIX's -21.42%.

Which has better risk-adjusted returns?

PRFRX currently has the higher Sharpe Ratio (3.32 vs 0.87), 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.