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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PRPIX or RPIFX.
Key characteristics
| PRPIX | RPIFX | |
|---|---|---|
| YTD Return | 4.13% | 7.69% |
| 1Y Return | 12.89% | 10.51% |
| 3Y Return (Ann) | -3.33% | 6.55% |
| 5Y Return (Ann) | -0.06% | 5.65% |
| 10Y Return (Ann) | 1.70% | 4.82% |
| Sharpe Ratio | 1.90 | 3.84 |
| Sortino Ratio | 2.88 | 12.82 |
| Omega Ratio | 1.35 | 4.07 |
| Calmar Ratio | 0.58 | 14.23 |
| Martin Ratio | 8.22 | 81.15 |
| Ulcer Index | 1.46% | 0.13% |
| Daily Std Dev | 6.31% | 2.74% |
| Max Drawdown | -25.82% | -22.53% |
| Current Drawdown | -10.42% | 0.00% |
Correlation
The correlation between PRPIX and RPIFX is 0.17, 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.
Performance
PRPIX vs. RPIFX - Performance Comparison
In the year-to-date period, PRPIX achieves a 4.13% return, which is significantly lower than RPIFX's 7.69% return. Over the past 10 years, PRPIX has underperformed RPIFX with an annualized return of 1.70%, while RPIFX has yielded a comparatively higher 4.82% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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.
Risk-Adjusted Performance
PRPIX vs. RPIFX - Risk-Adjusted Performance 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.
Dividends
PRPIX vs. RPIFX - Dividend Comparison
PRPIX's dividend yield for the trailing twelve months is around 4.62%, less than RPIFX's 8.67% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRPIX T. Rowe Price Corporate Income Fund | 4.62% | 4.13% | 3.27% | 2.60% | 4.80% | 3.45% | 3.48% | 3.23% | 3.20% | 3.64% | 3.63% | 3.89% |
RPIFX T. Rowe Price Institutional Floating Rate Fund | 8.67% | 8.66% | 5.51% | 3.95% | 4.30% | 5.12% | 5.17% | 4.32% | 4.32% | 4.46% | 4.37% | 4.21% |
Drawdowns
PRPIX vs. RPIFX - Drawdown Comparison
The maximum PRPIX drawdown since its inception was -25.82%, which is greater than RPIFX's maximum drawdown of -22.53%. Use the drawdown chart below to compare losses from any high point for PRPIX and RPIFX. For additional features, visit the drawdowns tool.
Volatility
PRPIX vs. RPIFX - Volatility Comparison
T. Rowe Price Corporate Income Fund (PRPIX) has a higher volatility of 1.66% compared to T. Rowe Price Institutional Floating Rate Fund (RPIFX) at 0.83%. 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.