PRFRX vs. MFHVX
PRFRX (T. Rowe Price Floating Rate Fund - Investor Class) and MFHVX (MetLife Opportunistic High Yield Fund) are both High Yield Bonds funds. Over the past 5 years, PRFRX returned 9.04%/yr vs 4.12%/yr for MFHVX. Their 0.49 correlation means their historical movements had little consistent relationship. PRFRX charges 0.76%/yr vs 1.43%/yr for MFHVX.
Performance
PRFRX vs. MFHVX - Performance Comparison
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Returns By Period
In the year-to-date period, PRFRX achieves a 1.84% return, which is significantly lower than MFHVX's 4.04% return.
PRFRX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.93%
- YTD
- 1.84%
- 1Y
- 4.74%
- 3Y*
- 11.42%
- 5Y*
- 9.04%
- 10Y*
- 6.39%
- ALL TIME*
- 5.49%
MFHVX
- 1D
- 0.23%
- 1M
- 0.61%
- 6M
- 2.77%
- YTD
- 4.04%
- 1Y
- 5.81%
- 3Y*
- 8.00%
- 5Y*
- 4.12%
- 10Y*
- —
- ALL TIME*
- 5.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PRFRX vs. MFHVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PRFRX T. Rowe Price Floating Rate Fund - Investor Class | 1.84% | 7.78% | 16.63% | 20.66% | -1.95% | 4.60% | 1.75% | 8.46% | -2.27% |
MFHVX MetLife Opportunistic High Yield Fund | 4.04% | 4.56% | 9.72% | 14.09% | -12.06% | 10.53% | 6.88% | 12.81% | -3.06% |
Correlation
The correlation between PRFRX and MFHVX is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2018 | 0.49 |
The correlation between PRFRX and MFHVX shifts across timeframes, from 0.38 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PRFRX vs. MFHVX — Risk / Return Rank
PRFRX
MFHVX
PRFRX vs. MFHVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund - Investor Class (PRFRX) and MetLife Opportunistic High Yield Fund (MFHVX). 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 | MFHVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.42 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | 2.31 | +0.72 |
| Martin ratioReturn relative to average drawdown | 10.89 | 5.84 | +5.05 |
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Drawdowns
PRFRX vs. MFHVX - Drawdown Comparison
The maximum PRFRX drawdown since its inception was -20.05%, roughly equal to the maximum MFHVX drawdown of -20.95%. Use the drawdown chart below to compare losses from any high point for PRFRX and MFHVX.
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Drawdown Indicators
| PRFRX | MFHVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.05% | -20.95% | +0.90% |
Max Drawdown (1Y)Largest decline over 1 year | -1.50% | -2.43% | +0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -2.07% | -5.14% | +3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -5.94% | -13.54% | +7.60% |
Max Drawdown (10Y)Largest decline over 10 years | -20.05% | — | — |
Current DrawdownCurrent decline from peak | -0.22% | 0.00% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -0.68% | -3.01% | +2.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.95% | -0.53% |
Volatility
PRFRX vs. MFHVX - Volatility Comparison
The current volatility for T. Rowe Price Floating Rate Fund - Investor Class (PRFRX) is 0.30%, while MetLife Opportunistic High Yield Fund (MFHVX) has a volatility of 0.50%. This indicates that PRFRX experiences smaller price fluctuations and is considered to be less risky than MFHVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRFRX | MFHVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 0.50% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 2.02% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.44% | 2.73% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.15% | 3.46% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.00% | 4.38% | -0.38% |
PRFRX vs. MFHVX - Expense Ratio Comparison
PRFRX has a 0.76% expense ratio, which is lower than MFHVX's 1.43% expense ratio.
Dividends
PRFRX vs. MFHVX - Dividend Comparison
PRFRX's dividend yield for the trailing twelve months is around 6.76%, less than MFHVX's 9.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFHVX MetLife Opportunistic High Yield Fund | 9.11% | 9.41% | 8.98% | 9.66% | 8.95% | 8.44% | 7.30% | 8.61% | 0.04% | 0.00% | 0.00% | 0.00% |
PRFRX T. Rowe Price Floating Rate Fund - Investor Class | 6.76% | 8.11% | 15.09% | 15.33% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
Frequently Asked Questions
PRFRX and MFHVX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MFHVX has higher volatility (0.50%) compared to PRFRX (0.30%). In terms of maximum drawdown, PRFRX dropped -20.05% vs MFHVX's -20.95%.
MFHVX currently has the higher Sharpe Ratio (2.05 vs 1.92), 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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