PRFRX vs. FFRHX
Compare and contrast key facts about T. Rowe Price Floating Rate Fund (PRFRX) and Fidelity Floating Rate High Income Fund (FFRHX).
PRFRX is managed by T. Rowe Price. It was launched on Jul 29, 2011. FFRHX 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 FFRHX.
Key characteristics
| PRFRX | FFRHX | |
|---|---|---|
| YTD Return | 5.72% | 5.83% |
| 1Y Return | 9.34% | 8.30% |
| 3Y Return (Ann) | 6.08% | 5.97% |
| 5Y Return (Ann) | 5.05% | 5.21% |
| 10Y Return (Ann) | 4.35% | 4.37% |
| Sharpe Ratio | 3.52 | 3.25 |
| Daily Std Dev | 2.69% | 2.57% |
| Max Drawdown | -20.05% | -22.20% |
| Current Drawdown | -0.11% | 0.00% |
Correlation
The correlation between PRFRX and FFRHX is 0.61, 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. FFRHX - Performance Comparison
The year-to-date returns for both investments are quite close, with PRFRX having a 5.72% return and FFRHX slightly higher at 5.83%. Both investments have delivered pretty close results over the past 10 years, with PRFRX having a 4.35% annualized return and FFRHX not far ahead at 4.37%. 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. FFRHX - Expense Ratio Comparison
PRFRX has a 0.75% expense ratio, which is higher than FFRHX's 0.67% expense ratio.
Risk-Adjusted Performance
PRFRX vs. FFRHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PRFRX) and Fidelity Floating Rate High Income Fund (FFRHX). 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. FFRHX - Dividend Comparison
PRFRX's dividend yield for the trailing twelve months is around 8.56%, which matches FFRHX's 8.51% 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% |
FFRHX Fidelity Floating Rate High Income Fund | 8.51% | 8.23% | 5.06% | 3.26% | 3.84% | 5.15% | 4.72% | 4.05% | 3.94% | 4.25% | 4.00% | 3.46% |
Drawdowns
PRFRX vs. FFRHX - Drawdown Comparison
The maximum PRFRX drawdown since its inception was -20.05%, smaller than the maximum FFRHX drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for PRFRX and FFRHX. For additional features, visit the drawdowns tool.
Volatility
PRFRX vs. FFRHX - Volatility Comparison
T. Rowe Price Floating Rate Fund (PRFRX) has a higher volatility of 0.77% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.64%. This indicates that PRFRX's price experiences larger fluctuations and is considered to be riskier than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.