PRTIX vs. ^TNX
PRTIX (T. Rowe Price U.S. Treasury Intermediate Index Fund) is Government Bonds fund managed by T. Rowe Price, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 10 years, PRTIX returned 0.97%/yr vs 10.18%/yr for ^TNX. At a correlation of -0.84, they often move in opposite directions.
Performance
PRTIX vs. ^TNX - Performance Comparison
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Returns By Period
In the year-to-date period, PRTIX achieves a -0.64% return, which is significantly lower than ^TNX's 7.88% return. Over the past 10 years, PRTIX has underperformed ^TNX with an annualized return of 0.97%, while ^TNX has yielded a comparatively higher 10.18% annualized return.
PRTIX
- 1D
- 0.00%
- 1M
- 0.12%
- YTD
- -0.64%
- 6M
- -0.38%
- 1Y
- 4.83%
- 3Y*
- 3.75%
- 5Y*
- -0.21%
- 10Y*
- 0.97%
^TNX
- 1D
- 0.81%
- 1M
- 1.01%
- YTD
- 7.88%
- 6M
- 10.70%
- 1Y
- 0.70%
- 3Y*
- 6.76%
- 5Y*
- 23.55%
- 10Y*
- 10.18%
PRTIX vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRTIX T. Rowe Price U.S. Treasury Intermediate Index Fund | -0.64% | 8.91% | 1.64% | 3.49% | -12.61% | -2.99% | 8.05% | 6.65% | 1.02% | 1.24% |
^TNX Treasury Yield 10 Years | 7.88% | -8.97% | 18.29% | -0.34% | 156.55% | 64.89% | -52.21% | -28.56% | 11.68% | -1.68% |
Correlation
The correlation between PRTIX and ^TNX is -0.79, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 1993 | -0.84 |
The correlation between PRTIX and ^TNX has been stable across timeframes, ranging from -0.87 to -0.79 - a consistent structural relationship.
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Return for Risk
PRTIX vs. ^TNX — Risk / Return Rank
PRTIX
^TNX
PRTIX vs. ^TNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price U.S. Treasury Intermediate Index Fund (PRTIX) and Treasury Yield 10 Years (^TNX). 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.
| PRTIX | ^TNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.02 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 0.06 | +1.32 |
| Martin ratioReturn relative to average drawdown | 4.19 | 0.10 | +4.09 |
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
| PRTIX | ^TNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 0.05 | +1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.73 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.21 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | -0.02 | +0.90 |
Drawdowns
PRTIX vs. ^TNX - Drawdown Comparison
The maximum PRTIX drawdown since its inception was -18.93%, smaller than the maximum ^TNX drawdown of -93.78%. Use the drawdown chart below to compare losses from any high point for PRTIX and ^TNX.
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Drawdown Indicators
| PRTIX | ^TNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.93% | -93.78% | +74.85% |
Max Drawdown (1Y)Largest decline over 1 year | -3.45% | -12.35% | +8.90% |
Max Drawdown (3Y)Largest decline over 3 years | -5.29% | -27.41% | +22.12% |
Max Drawdown (5Y)Largest decline over 5 years | -17.70% | -27.41% | +9.71% |
Max Drawdown (10Y)Largest decline over 10 years | -18.93% | -84.57% | +65.64% |
Current DrawdownCurrent decline from peak | -4.41% | -44.02% | +39.61% |
Average DrawdownAverage peak-to-trough decline | -2.94% | -51.34% | +48.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 6.97% | -5.85% |
Volatility
PRTIX vs. ^TNX - Volatility Comparison
The current volatility for T. Rowe Price U.S. Treasury Intermediate Index Fund (PRTIX) is 1.38%, while Treasury Yield 10 Years (^TNX) has a volatility of 5.08%. This indicates that PRTIX experiences smaller price fluctuations and is considered to be less risky than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRTIX | ^TNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 5.08% | -3.70% |
Volatility (6M)Calculated over the trailing 6-month period | 2.88% | 10.62% | -7.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.00% | 15.50% | -11.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.15% | 32.48% | -26.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 47.99% | -42.86% |
Frequently Asked Questions
PRTIX and ^TNX have a correlation of -0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^TNX has higher volatility (5.08%) compared to PRTIX (1.38%). In terms of maximum drawdown, PRTIX dropped -18.93% vs ^TNX's -93.78%.
PRTIX currently has the higher Sharpe Ratio (1.19 vs 0.04), 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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