PRFRX vs. GECC

Last updated Jun 24, 2026

PRFRX (T. Rowe Price Floating Rate Fund) is High Yield Bonds fund managed by T. Rowe Price, while GECC (Great Elm Capital Corp.) is a stock. Over the past 5 years, PRFRX returned 6.99%/yr vs -9.76%/yr for GECC. At a 0.09 correlation, their price movements are largely independent.

Performance

PRFRX vs. GECC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Floating Rate Fund (PRFRX) and Great Elm Capital Corp. (GECC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRFRX achieves a 0.95% return, which is significantly higher than GECC's -10.06% 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%

GECC

• 1D: 2.60%
• 1M: 5.01%
• YTD: -10.06%
• 6M: -7.09%
• 1Y: -33.33%
• 3Y*: 6.39%
• 5Y*: -9.76%
• 10Y*: —

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

PRFRX vs. GECC - 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%
GECC Great Elm Capital Corp.	-10.06%	-25.44%	18.85%	50.81%	-47.39%	-4.46%	-36.93%	12.30%	-11.10%	-7.41%

Correlation

The correlation between PRFRX and GECC is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (All Time) Calculated using the full available price history since Nov 4, 2016	0.09

Return for Risk

PRFRX vs. GECC — 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: 94
PRFRX Sortino Ratio Rank: 99
PRFRX Omega Ratio Rank: 98
PRFRX Calmar Ratio Rank: 95
PRFRX Martin Ratio Rank: 94

GECC

GECC Risk / Return Rank: 15
GECC Sharpe Ratio Rank: 9
GECC Sortino Ratio Rank: 12
GECC Omega Ratio Rank: 11
GECC Calmar Ratio Rank: 19
GECC Martin Ratio Rank: 22

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. GECC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PRFRX) and Great Elm Capital Corp. (GECC). 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	GECC	Difference
Sharpe ratio: Return per unit of total volatility	2.96	-0.83	+3.79
Sortino ratio: Return per unit of downside risk	7.51	-1.00	+8.51
Omega ratio: Gain probability vs. loss probability	2.17	0.86	+1.31
Calmar ratio: Return relative to maximum drawdown	5.22	-0.62	+5.84
Martin ratio: Return relative to average drawdown	19.34	-0.97	+20.31

PRFRX vs. GECC - Sharpe Ratio Comparison

The current PRFRX Sharpe Ratio is 2.96, which is higher than the GECC Sharpe Ratio of -0.83. The chart below compares the historical Sharpe Ratios of PRFRX and GECC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PRFRX vs. GECC - Drawdown Comparison

The maximum PRFRX drawdown since its inception was -20.05%, smaller than the maximum GECC drawdown of -74.01%. Use the drawdown chart below to compare losses from any high point for PRFRX and GECC.

Drawdown Indicators

	PRFRX	GECC	Difference
Max Drawdown Largest peak-to-trough decline	-20.05%	-74.01%	+53.96%
Max Drawdown (1Y) Largest decline over 1 year	-1.50%	-53.97%	+52.47%
Max Drawdown (3Y) Largest decline over 3 years	-2.35%	-53.97%	+51.62%
Max Drawdown (5Y) Largest decline over 5 years	-5.94%	-56.35%	+50.41%
Max Drawdown (10Y) Largest decline over 10 years	-20.05%	—	—
Current Drawdown Current decline from peak	-0.44%	-66.23%	+65.79%
Average Drawdown Average peak-to-trough decline	-0.69%	-40.48%	+39.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	34.25%	-33.85%

Volatility

PRFRX vs. GECC - Volatility Comparison

The current volatility for T. Rowe Price Floating Rate Fund (PRFRX) is 0.63%, while Great Elm Capital Corp. (GECC) has a volatility of 13.31%. This indicates that PRFRX experiences smaller price fluctuations and is considered to be less risky than GECC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFRX	GECC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	13.31%	-12.68%
Volatility (6M) Calculated over the trailing 6-month period	1.85%	30.57%	-28.72%
Volatility (1Y) Calculated over the trailing 1-year period	2.65%	40.44%	-37.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.91%	30.66%	-27.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.92%	37.02%	-33.10%

Dividends

PRFRX vs. GECC - Dividend Comparison

PRFRX's dividend yield for the trailing twelve months is around 9.25%, less than GECC's 27.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GECC Great Elm Capital Corp.	27.52%	21.01%	13.19%	14.09%	23.52%	12.99%	31.60%	13.44%	12.69%	10.12%	1.42%	0.00%
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

Can I hold both PRFRX and GECC in my portfolio?

PRFRX and GECC have a correlation of 0.14, 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 GECC?

GECC has higher volatility (13.31%) compared to PRFRX (0.63%). In terms of maximum drawdown, PRFRX dropped -20.05% vs GECC's -74.01%.

Which has better risk-adjusted returns?

PRFRX currently has the higher Sharpe Ratio (2.96 vs -0.83), 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.