PRFRX vs. SPYD
Compare and contrast key facts about T. Rowe Price Floating Rate Fund (PRFRX) and SPDR Portfolio S&P 500 High Dividend ETF (SPYD).
PRFRX is managed by T. Rowe Price. It was launched on Jul 29, 2011. SPYD is a passively managed fund by State Street that tracks the performance of the S&P 500 High Dividend Index. It was launched on Oct 21, 2015.
Performance
PRFRX vs. SPYD - Performance Comparison
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PRFRX vs. SPYD - 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% |
SPYD SPDR Portfolio S&P 500 High Dividend ETF | 5.92% | 4.65% | 15.34% | 3.91% | -1.17% | 32.73% | -11.64% | 21.20% | -4.89% | 12.67% |
Returns By Period
In the year-to-date period, PRFRX achieves a 0.05% return, which is significantly lower than SPYD's 5.92% return. Over the past 10 years, PRFRX has underperformed SPYD with an annualized return of 5.67%, while SPYD has yielded a comparatively higher 8.45% 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%
SPYD
- 1D
- -0.37%
- 1M
- -4.38%
- YTD
- 5.92%
- 6M
- 4.97%
- 1Y
- 7.58%
- 3Y*
- 11.05%
- 5Y*
- 7.71%
- 10Y*
- 8.45%
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PRFRX vs. SPYD - Expense Ratio Comparison
PRFRX has a 0.75% expense ratio, which is higher than SPYD's 0.07% expense ratio.
Return for Risk
PRFRX vs. SPYD — Risk / Return Rank
PRFRX
SPYD
PRFRX vs. SPYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund (PRFRX) and SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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 | SPYD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.59 | 0.49 | +3.10 |
Sortino ratioReturn per unit of downside risk | 7.18 | 0.78 | +6.40 |
Omega ratioGain probability vs. loss probability | 2.36 | 1.10 | +1.25 |
Calmar ratioReturn relative to maximum drawdown | 5.93 | 0.59 | +5.34 |
Martin ratioReturn relative to average drawdown | 28.58 | 2.09 | +26.49 |
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 | SPYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.59 | 0.49 | +3.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.49 | 0.48 | +2.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.45 | 0.43 | +1.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.43 | 0.45 | +0.98 |
Correlation
The correlation between PRFRX and SPYD is 0.23, 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.
Dividends
PRFRX vs. SPYD - Dividend Comparison
PRFRX's dividend yield for the trailing twelve months is around 12.92%, more than SPYD's 4.38% 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% |
SPYD SPDR Portfolio S&P 500 High Dividend ETF | 4.38% | 4.52% | 4.31% | 4.66% | 5.01% | 3.68% | 4.95% | 4.42% | 4.75% | 4.63% | 4.34% | 1.13% |
Drawdowns
PRFRX vs. SPYD - Drawdown Comparison
The maximum PRFRX drawdown since its inception was -20.05%, smaller than the maximum SPYD drawdown of -46.42%. Use the drawdown chart below to compare losses from any high point for PRFRX and SPYD.
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Drawdown Indicators
| PRFRX | SPYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.05% | -46.42% | +26.37% |
Max Drawdown (1Y)Largest decline over 1 year | -1.96% | -12.35% | +10.39% |
Max Drawdown (5Y)Largest decline over 5 years | -5.94% | -22.25% | +16.31% |
Max Drawdown (10Y)Largest decline over 10 years | -20.05% | -46.42% | +26.37% |
Current DrawdownCurrent decline from peak | -0.53% | -4.70% | +4.17% |
Average DrawdownAverage peak-to-trough decline | -0.69% | -6.24% | +5.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 3.47% | -3.04% |
Volatility
PRFRX vs. SPYD - Volatility Comparison
The current volatility for T. Rowe Price Floating Rate Fund (PRFRX) is 0.71%, while SPDR Portfolio S&P 500 High Dividend ETF (SPYD) has a volatility of 3.03%. This indicates that PRFRX experiences smaller price fluctuations and is considered to be less risky than SPYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRFRX | SPYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 3.03% | -2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 8.61% | -6.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.33% | 15.67% | -12.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.90% | 16.24% | -13.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.92% | 19.80% | -15.88% |