PRFRX vs. ICVT
Compare and contrast key facts about T. Rowe Price Floating Rate Fund (PRFRX) and iShares Convertible Bond ETF (ICVT).
PRFRX is managed by T. Rowe Price. It was launched on Jul 29, 2011. ICVT is a passively managed fund by iShares that tracks the performance of the Barclays U.S. Convertible Cash Pay Bond > $250MM Index. It was launched on Jun 2, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRFRX or ICVT.
Key characteristics
| PRFRX | ICVT | |
|---|---|---|
| YTD Return | 7.44% | 12.41% |
| 1Y Return | 10.11% | 21.69% |
| 3Y Return (Ann) | 6.37% | -1.81% |
| 5Y Return (Ann) | 5.30% | 11.43% |
| Sharpe Ratio | 3.89 | 2.79 |
| Sortino Ratio | 12.60 | 3.98 |
| Omega Ratio | 4.25 | 1.51 |
| Calmar Ratio | 13.59 | 0.89 |
| Martin Ratio | 72.03 | 15.17 |
| Ulcer Index | 0.14% | 1.55% |
| Daily Std Dev | 2.63% | 8.42% |
| Max Drawdown | -20.05% | -33.25% |
| Current Drawdown | 0.00% | -10.43% |
Correlation
The correlation between PRFRX and ICVT is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PRFRX vs. ICVT - Performance Comparison
In the year-to-date period, PRFRX achieves a 7.44% return, which is significantly lower than ICVT's 12.41% 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. ICVT - Expense Ratio Comparison
PRFRX has a 0.75% expense ratio, which is higher than ICVT's 0.20% expense ratio.
Risk-Adjusted Performance
PRFRX vs. ICVT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PRFRX) and iShares Convertible Bond ETF (ICVT). 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. ICVT - Dividend Comparison
PRFRX's dividend yield for the trailing twelve months is around 8.39%, more than ICVT's 2.26% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRFRX T. Rowe Price Floating Rate Fund | 8.39% | 8.33% | 5.20% | 3.87% | 4.00% | 4.84% | 4.86% | 4.04% | 4.08% | 4.08% | 3.85% | 3.53% |
ICVT iShares Convertible Bond ETF | 2.26% | 1.84% | 1.93% | 7.70% | 3.98% | 1.86% | 4.82% | 2.56% | 3.06% | 1.57% | 0.00% | 0.00% |
Drawdowns
PRFRX vs. ICVT - Drawdown Comparison
The maximum PRFRX drawdown since its inception was -20.05%, smaller than the maximum ICVT drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for PRFRX and ICVT. For additional features, visit the drawdowns tool.
Volatility
PRFRX vs. ICVT - Volatility Comparison
The current volatility for T. Rowe Price Floating Rate Fund (PRFRX) is 0.70%, while iShares Convertible Bond ETF (ICVT) has a volatility of 2.51%. This indicates that PRFRX experiences smaller price fluctuations and is considered to be less risky than ICVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.