PRPIX vs. RPIFX
Compare and contrast key facts about T. Rowe Price Corporate Income Fund (PRPIX) and T. Rowe Price Institutional Floating Rate Fund (RPIFX).
PRPIX is managed by T. Rowe Price. It was launched on Oct 31, 1995. RPIFX is managed by T. Rowe Price. It was launched on Jan 30, 2008.
Performance
PRPIX vs. RPIFX - Performance Comparison
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PRPIX vs. RPIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRPIX T. Rowe Price Corporate Income Fund | -0.95% | 11.87% | 3.20% | 8.81% | -17.71% | -0.76% | 7.87% | 15.77% | -3.05% | 6.58% |
RPIFX T. Rowe Price Institutional Floating Rate Fund | -0.94% | 6.71% | 8.47% | 10.13% | -1.96% | 4.67% | 2.42% | 8.82% | 0.39% | 3.78% |
Returns By Period
The year-to-date returns for both investments are quite close, with PRPIX having a -0.95% return and RPIFX slightly higher at -0.94%. Over the past 10 years, PRPIX has underperformed RPIFX with an annualized return of 2.89%, while RPIFX has yielded a comparatively higher 4.79% annualized return.
PRPIX
- 1D
- 0.50%
- 1M
- -2.80%
- YTD
- -0.95%
- 6M
- 1.06%
- 1Y
- 8.14%
- 3Y*
- 6.22%
- 5Y*
- 1.16%
- 10Y*
- 2.89%
RPIFX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -0.94%
- 6M
- 0.62%
- 1Y
- 5.04%
- 3Y*
- 6.99%
- 5Y*
- 5.01%
- 10Y*
- 4.79%
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PRPIX vs. RPIFX - Expense Ratio Comparison
PRPIX has a 0.56% expense ratio, which is lower than RPIFX's 0.57% expense ratio.
Return for Risk
PRPIX vs. RPIFX — Risk / Return Rank
PRPIX
RPIFX
PRPIX vs. RPIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Corporate Income Fund (PRPIX) and T. Rowe Price Institutional Floating Rate Fund (RPIFX). 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.
| PRPIX | RPIFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.83 | 2.00 | -0.17 |
Sortino ratioReturn per unit of downside risk | 2.64 | 3.60 | -0.96 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.69 | -0.35 |
Calmar ratioReturn relative to maximum drawdown | 2.54 | 2.68 | -0.15 |
Martin ratioReturn relative to average drawdown | 9.06 | 10.49 | -1.43 |
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
| PRPIX | RPIFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 2.00 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 1.85 | -1.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 1.27 | -0.79 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 1.27 | -0.40 |
Correlation
The correlation between PRPIX and RPIFX is 0.18, 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
PRPIX vs. RPIFX - Dividend Comparison
PRPIX's dividend yield for the trailing twelve months is around 8.71%, more than RPIFX's 6.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRPIX T. Rowe Price Corporate Income Fund | 8.71% | 8.26% | 5.18% | 4.13% | 2.42% | 5.61% | 3.82% | 5.47% | 3.47% | 3.95% | 3.20% | 4.23% |
RPIFX T. Rowe Price Institutional Floating Rate Fund | 6.63% | 7.22% | 7.77% | 6.53% | 4.12% | 3.94% | 4.29% | 5.12% | 5.16% | 4.32% | 4.31% | 4.45% |
Drawdowns
PRPIX vs. RPIFX - Drawdown Comparison
The maximum PRPIX drawdown since its inception was -24.24%, roughly equal to the maximum RPIFX drawdown of -25.10%. Use the drawdown chart below to compare losses from any high point for PRPIX and RPIFX.
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Drawdown Indicators
| PRPIX | RPIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.24% | -25.10% | +0.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.59% | -1.92% | -1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -24.24% | -5.90% | -18.34% |
Max Drawdown (10Y)Largest decline over 10 years | -24.24% | -19.67% | -4.57% |
Current DrawdownCurrent decline from peak | -2.80% | -1.15% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -3.21% | -1.35% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 0.52% | +0.49% |
Volatility
PRPIX vs. RPIFX - Volatility Comparison
T. Rowe Price Corporate Income Fund (PRPIX) has a higher volatility of 1.72% compared to T. Rowe Price Institutional Floating Rate Fund (RPIFX) at 0.72%. This indicates that PRPIX's price experiences larger fluctuations and is considered to be riskier than RPIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRPIX | RPIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.72% | 0.72% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 1.76% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.78% | 2.80% | +1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.57% | 2.73% | +3.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.01% | 3.79% | +2.22% |