PRFRX vs. LFRIX
PRFRX (T. Rowe Price Floating Rate Fund) and LFRIX (Lord Abbett Floating Rate Fund) are both mutual funds - PRFRX is a High Yield Bonds fund managed by T. Rowe Price, while LFRIX is a Bank Loan fund managed by Lord Abbett. Over the past 10 years, PRFRX returned 5.46%/yr vs 4.52%/yr for LFRIX. A 0.68 correlation means they provide meaningful diversification when combined. PRFRX charges 0.75%/yr vs 0.60%/yr for LFRIX.
Performance
PRFRX vs. LFRIX - Performance Comparison
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Returns By Period
In the year-to-date period, PRFRX achieves a 0.83% return, which is significantly lower than LFRIX's 1.53% return. Over the past 10 years, PRFRX has outperformed LFRIX with an annualized return of 5.46%, while LFRIX has yielded a comparatively lower 4.52% annualized return.
PRFRX
- 1D
- -0.11%
- 1M
- -0.10%
- YTD
- 0.83%
- 6M
- 2.01%
- 1Y
- 7.80%
- 3Y*
- 9.76%
- 5Y*
- 6.95%
- 10Y*
- 5.46%
LFRIX
- 1D
- 0.00%
- 1M
- 0.17%
- YTD
- 1.53%
- 6M
- 2.10%
- 1Y
- 6.20%
- 3Y*
- 7.67%
- 5Y*
- 5.35%
- 10Y*
- 4.52%
PRFRX vs. LFRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRFRX T. Rowe Price Floating Rate Fund | 0.83% | 9.82% | 11.04% | 13.78% | -1.95% | 4.60% | 1.75% | 8.46% | -0.08% | 3.48% |
LFRIX Lord Abbett Floating Rate Fund | 1.53% | 6.30% | 8.28% | 12.22% | -2.99% | 5.48% | -1.47% | 7.59% | -0.01% | 3.97% |
Correlation
The correlation between PRFRX and LFRIX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2011 | 0.68 |
The correlation between PRFRX and LFRIX shifts across timeframes, from 0.48 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PRFRX vs. LFRIX — Risk / Return Rank
PRFRX
LFRIX
PRFRX vs. LFRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PRFRX) and Lord Abbett Floating Rate Fund (LFRIX). 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 | LFRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 2.14 | 1.97 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 5.15 | 3.92 | +1.22 |
| Martin ratioReturn relative to average drawdown | 19.34 | 14.80 | +4.54 |
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Drawdowns
PRFRX vs. LFRIX - Drawdown Comparison
The maximum PRFRX drawdown since its inception was -20.05%, smaller than the maximum LFRIX drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for PRFRX and LFRIX.
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Drawdown Indicators
| PRFRX | LFRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.05% | -27.90% | +7.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.50% | -1.55% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -2.35% | -2.59% | +0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -5.94% | -6.23% | +0.29% |
Max Drawdown (10Y)Largest decline over 10 years | -20.05% | -21.75% | +1.70% |
Current DrawdownCurrent decline from peak | -0.55% | -0.37% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -0.69% | -1.94% | +1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.41% | -0.01% |
Volatility
PRFRX vs. LFRIX - Volatility Comparison
T. Rowe Price Floating Rate Fund (PRFRX) and Lord Abbett Floating Rate Fund (LFRIX) have volatilities of 0.64% and 0.66%, 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.
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Volatility by Period
| PRFRX | LFRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.66% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.86% | 1.87% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.65% | 2.44% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.91% | 2.86% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.92% | 3.91% | +0.01% |
PRFRX vs. LFRIX - Expense Ratio Comparison
PRFRX has a 0.75% expense ratio, which is higher than LFRIX's 0.60% expense ratio.
Dividends
PRFRX vs. LFRIX - Dividend Comparison
PRFRX's dividend yield for the trailing twelve months is around 9.26%, more than LFRIX's 6.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LFRIX Lord Abbett Floating Rate Fund | 6.91% | 7.20% | 7.68% | 7.63% | 3.95% | 4.01% | 4.64% | 5.71% | 5.60% | 4.65% | 4.64% | 4.72% |
PRFRX T. Rowe Price Floating Rate Fund | 9.26% | 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
PRFRX and LFRIX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LFRIX has higher volatility (0.66%) compared to PRFRX (0.64%). In terms of maximum drawdown, PRFRX dropped -20.05% vs LFRIX's -27.90%.
PRFRX currently has the higher Sharpe Ratio (2.91 vs 2.50), 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.
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