RPELX vs. FPFIX
RPELX (T. Rowe Price Dynamic Credit Fund) and FPFIX (FPA Flexible Fixed Income Fund) are both Nontraditional Bonds funds. Over the past 5 years, RPELX returned 3.10%/yr vs 3.44%/yr for FPFIX. At a 0.04 correlation, their price movements are largely independent. RPELX charges 0.56%/yr vs 0.51%/yr for FPFIX.
Performance
RPELX vs. FPFIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, RPELX achieves a -0.04% return, which is significantly higher than FPFIX's -0.30% return.
RPELX
- 1D
- -0.23%
- 1M
- 0.07%
- YTD
- -0.04%
- 6M
- 0.60%
- 1Y
- 3.87%
- 3Y*
- 6.19%
- 5Y*
- 3.10%
- 10Y*
- —
FPFIX
- 1D
- -0.20%
- 1M
- 0.21%
- YTD
- -0.30%
- 6M
- -0.11%
- 1Y
- 3.16%
- 3Y*
- 5.60%
- 5Y*
- 3.44%
- 10Y*
- —
RPELX vs. FPFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RPELX T. Rowe Price Dynamic Credit Fund | -0.04% | 7.13% | 7.47% | 2.92% | -0.81% | 6.37% | 2.52% | 7.00% |
FPFIX FPA Flexible Fixed Income Fund | -0.30% | 6.87% | 5.28% | 8.11% | -2.82% | 1.77% | 4.71% | 3.68% |
Correlation
The correlation between RPELX and FPFIX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2019 | 0.04 |
The correlation between RPELX and FPFIX shifts across timeframes, from -0.00 (3 years) to 0.12 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
RPELX vs. FPFIX — Risk / Return Rank
RPELX
FPFIX
RPELX vs. FPFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dynamic Credit Fund (RPELX) and FPA Flexible Fixed Income Fund (FPFIX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| RPELX | FPFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.27 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 1.61 | +1.20 |
| Martin ratioReturn relative to average drawdown | 7.12 | 4.21 | +2.91 |
Loading charts...
Drawdowns
RPELX vs. FPFIX - Drawdown Comparison
The maximum RPELX drawdown since its inception was -19.94%, which is greater than FPFIX's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for RPELX and FPFIX.
Loading charts...
Drawdown Indicators
| RPELX | FPFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.94% | -4.11% | -15.83% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -2.10% | +0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -3.16% | -2.10% | -1.06% |
Max Drawdown (5Y)Largest decline over 5 years | -7.25% | -4.11% | -3.14% |
Current DrawdownCurrent decline from peak | -1.09% | -1.70% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -1.95% | -0.60% | -1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.80% | -0.26% |
Volatility
RPELX vs. FPFIX - Volatility Comparison
T. Rowe Price Dynamic Credit Fund (RPELX) and FPA Flexible Fixed Income Fund (FPFIX) have volatilities of 0.80% and 0.78%, 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.
Loading charts...
Volatility by Period
| RPELX | FPFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 0.78% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 1.84% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.20% | 2.43% | +0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.75% | 2.34% | +1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 2.09% | +2.64% |
RPELX vs. FPFIX - Expense Ratio Comparison
RPELX has a 0.56% expense ratio, which is higher than FPFIX's 0.51% expense ratio.
Dividends
RPELX vs. FPFIX - Dividend Comparison
RPELX's dividend yield for the trailing twelve months is around 7.45%, more than FPFIX's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FPFIX FPA Flexible Fixed Income Fund | 3.75% | 3.78% | 4.76% | 3.95% | 2.92% | 2.26% | 3.00% | 2.42% |
RPELX T. Rowe Price Dynamic Credit Fund | 7.45% | 7.49% | 6.95% | 4.90% | 8.05% | 5.39% | 7.16% | 4.43% |
Frequently Asked Questions
RPELX and FPFIX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPELX has higher volatility (0.80%) compared to FPFIX (0.78%). In terms of maximum drawdown, RPELX dropped -19.94% vs FPFIX's -4.11%.
FPFIX currently has the higher Sharpe Ratio (1.39 vs 1.22), 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.
Find the right allocation for RPELX and FPFIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer