PRFRX vs. FFRAX
Compare and contrast key facts about T. Rowe Price Floating Rate Fund (PRFRX) and Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX).
PRFRX is managed by T. Rowe Price. It was launched on Jul 29, 2011. FFRAX is managed by Fidelity. It was launched on Aug 16, 2000.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRFRX or FFRAX.
Key characteristics
| PRFRX | FFRAX | |
|---|---|---|
| YTD Return | 5.72% | 5.60% |
| 1Y Return | 9.34% | 7.99% |
| 3Y Return (Ann) | 6.08% | 5.67% |
| 5Y Return (Ann) | 5.05% | 4.88% |
| 10Y Return (Ann) | 4.35% | 4.07% |
| Sharpe Ratio | 3.52 | 3.06 |
| Daily Std Dev | 2.69% | 2.58% |
| Max Drawdown | -20.05% | -22.21% |
| Current Drawdown | -0.11% | 0.00% |
Correlation
The correlation between PRFRX and FFRAX is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PRFRX vs. FFRAX - Performance Comparison
The year-to-date returns for both stocks are quite close, with PRFRX having a 5.72% return and FFRAX slightly lower at 5.60%. Over the past 10 years, PRFRX has outperformed FFRAX with an annualized return of 4.35%, while FFRAX has yielded a comparatively lower 4.07% 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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PRFRX vs. FFRAX - Expense Ratio Comparison
PRFRX has a 0.75% expense ratio, which is lower than FFRAX's 0.98% expense ratio.
Risk-Adjusted Performance
PRFRX vs. FFRAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PRFRX) and Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX). 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
PRFRX vs. FFRAX - Dividend Comparison
PRFRX's dividend yield for the trailing twelve months is around 8.56%, more than FFRAX's 8.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRFRX T. Rowe Price Floating Rate Fund | 8.56% | 8.33% | 5.32% | 3.87% | 4.00% | 4.84% | 4.86% | 4.04% | 4.08% | 4.08% | 3.95% | 3.65% |
FFRAX Fidelity Advisor Floating Rate High Income Fund Class A | 8.22% | 7.95% | 4.75% | 2.95% | 3.55% | 4.85% | 4.41% | 3.77% | 3.66% | 3.96% | 3.70% | 3.18% |
Drawdowns
PRFRX vs. FFRAX - Drawdown Comparison
The maximum PRFRX drawdown since its inception was -20.05%, smaller than the maximum FFRAX drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for PRFRX and FFRAX. For additional features, visit the drawdowns tool.
Volatility
PRFRX vs. FFRAX - Volatility Comparison
T. Rowe Price Floating Rate Fund (PRFRX) has a higher volatility of 0.77% compared to Fidelity Advisor Floating Rate High Income Fund Class A (FFRAX) at 0.59%. This indicates that PRFRX's price experiences larger fluctuations and is considered to be riskier than FFRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.