PRFRX vs. PAFRX
Compare and contrast key facts about T. Rowe Price Floating Rate Fund (PRFRX) and T. Rowe Price Floating Rate Fund (PAFRX).
PRFRX is managed by T. Rowe Price. It was launched on Jul 29, 2011. PAFRX is managed by T. Rowe Price. It was launched on Jul 28, 2011.
Performance
PRFRX vs. PAFRX - Performance Comparison
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PRFRX vs. PAFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRFRX T. Rowe Price Floating Rate Fund | 0.05% | 13.09% | 8.80% | 13.78% | -1.95% | 4.60% | 1.75% | 8.46% | -0.08% | 3.48% |
PAFRX T. Rowe Price Floating Rate Fund | -1.03% | 6.37% | 7.89% | 10.68% | -2.11% | 4.38% | 1.53% | 8.32% | -0.29% | 3.27% |
Returns By Period
In the year-to-date period, PRFRX achieves a 0.05% return, which is significantly higher than PAFRX's -1.03% return. Over the past 10 years, PRFRX has outperformed PAFRX with an annualized return of 5.67%, while PAFRX has yielded a comparatively lower 4.41% annualized return.
PRFRX
- 1D
- 0.11%
- 1M
- 0.22%
- YTD
- 0.05%
- 6M
- 3.46%
- 1Y
- 11.85%
- 3Y*
- 10.26%
- 5Y*
- 7.20%
- 10Y*
- 5.67%
PAFRX
- 1D
- 0.11%
- 1M
- 0.22%
- YTD
- -1.03%
- 6M
- 0.53%
- 1Y
- 4.76%
- 3Y*
- 6.82%
- 5Y*
- 4.84%
- 10Y*
- 4.41%
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PRFRX vs. PAFRX - Expense Ratio Comparison
PRFRX has a 0.75% expense ratio, which is lower than PAFRX's 0.97% expense ratio.
Return for Risk
PRFRX vs. PAFRX — Risk / Return Rank
PRFRX
PAFRX
PRFRX vs. PAFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PRFRX) and T. Rowe Price Floating Rate Fund (PAFRX). 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.
| PRFRX | PAFRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.59 | 1.76 | +1.83 |
Sortino ratioReturn per unit of downside risk | 7.18 | 2.90 | +4.28 |
Omega ratioGain probability vs. loss probability | 2.36 | 1.55 | +0.80 |
Calmar ratioReturn relative to maximum drawdown | 5.93 | 2.36 | +3.57 |
Martin ratioReturn relative to average drawdown | 28.58 | 9.51 | +19.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PRFRX | PAFRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.59 | 1.76 | +1.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.49 | 1.85 | +0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.45 | 1.17 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.43 | 1.21 | +0.22 |
Correlation
The correlation between PRFRX and PAFRX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PRFRX vs. PAFRX - Dividend Comparison
PRFRX's dividend yield for the trailing twelve months is around 12.92%, more than PAFRX's 6.28% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRFRX T. Rowe Price Floating Rate Fund | 12.92% | 12.91% | 8.17% | 9.57% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
PAFRX T. Rowe Price Floating Rate Fund | 6.28% | 6.81% | 7.34% | 6.87% | 3.85% | 3.66% | 3.79% | 4.62% | 4.64% | 3.83% | 3.87% | 3.96% |
Drawdowns
PRFRX vs. PAFRX - Drawdown Comparison
The maximum PRFRX drawdown since its inception was -20.05%, roughly equal to the maximum PAFRX drawdown of -19.95%. Use the drawdown chart below to compare losses from any high point for PRFRX and PAFRX.
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Drawdown Indicators
| PRFRX | PAFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.05% | -19.95% | -0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -1.96% | -2.06% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -5.94% | -6.03% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -20.05% | -19.95% | -0.10% |
Current DrawdownCurrent decline from peak | -0.53% | -1.14% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -0.69% | -0.71% | +0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.54% | -0.11% |
Volatility
PRFRX vs. PAFRX - Volatility Comparison
T. Rowe Price Floating Rate Fund (PRFRX) and T. Rowe Price Floating Rate Fund (PAFRX) have volatilities of 0.71% and 0.71%, 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 | PAFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.71% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 1.56% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.33% | 2.69% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.90% | 2.63% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.92% | 3.78% | +0.14% |