RPIFX vs. BFRAX
Compare and contrast key facts about T. Rowe Price Institutional Floating Rate Fund (RPIFX) and BlackRock Floating Rate Income Fund (BFRAX).
RPIFX is managed by T. Rowe Price. It was launched on Jan 30, 2008. BFRAX is managed by BlackRock. It was launched on Nov 2, 1989.
Performance
RPIFX vs. BFRAX - Performance Comparison
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RPIFX vs. BFRAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
BFRAX BlackRock Floating Rate Income Fund | -1.16% | 5.35% | 8.12% | 9.94% | -1.43% | 3.59% | 2.39% | 8.60% | -0.74% | 3.10% |
Returns By Period
In the year-to-date period, RPIFX achieves a -0.94% return, which is significantly higher than BFRAX's -1.16% return. Over the past 10 years, RPIFX has outperformed BFRAX with an annualized return of 4.79%, while BFRAX has yielded a comparatively lower 4.35% annualized return.
RPIFX
- 1D
- 0.00%
- 1M
- 0.11%
- YTD
- -0.94%
- 6M
- 0.72%
- 1Y
- 5.15%
- 3Y*
- 6.99%
- 5Y*
- 5.01%
- 10Y*
- 4.79%
BFRAX
- 1D
- 0.11%
- 1M
- 0.21%
- YTD
- -1.16%
- 6M
- 0.13%
- 1Y
- 4.08%
- 3Y*
- 6.28%
- 5Y*
- 4.55%
- 10Y*
- 4.35%
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RPIFX vs. BFRAX - Expense Ratio Comparison
RPIFX has a 0.57% expense ratio, which is lower than BFRAX's 0.90% expense ratio.
Return for Risk
RPIFX vs. BFRAX — Risk / Return Rank
RPIFX
BFRAX
RPIFX vs. BFRAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Floating Rate Fund (RPIFX) and BlackRock Floating Rate Income Fund (BFRAX). 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.
| RPIFX | BFRAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.85 | 1.38 | +0.47 |
Sortino ratioReturn per unit of downside risk | 3.28 | 2.00 | +1.28 |
Omega ratioGain probability vs. loss probability | 1.63 | 1.42 | +0.21 |
Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.00 | +0.68 |
Martin ratioReturn relative to average drawdown | 10.39 | 7.22 | +3.17 |
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
| RPIFX | BFRAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 1.38 | +0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.85 | 1.65 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.27 | 1.11 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.27 | 0.36 | +0.91 |
Correlation
The correlation between RPIFX and BFRAX is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
RPIFX vs. BFRAX - Dividend Comparison
RPIFX's dividend yield for the trailing twelve months is around 6.63%, more than BFRAX's 6.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
BFRAX BlackRock Floating Rate Income Fund | 6.13% | 6.68% | 8.00% | 6.24% | 4.09% | 2.91% | 3.81% | 4.65% | 4.58% | 3.45% | 3.90% | 4.02% |
Drawdowns
RPIFX vs. BFRAX - Drawdown Comparison
The maximum RPIFX drawdown since its inception was -25.10%, smaller than the maximum BFRAX drawdown of -44.69%. Use the drawdown chart below to compare losses from any high point for RPIFX and BFRAX.
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Drawdown Indicators
| RPIFX | BFRAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.10% | -44.69% | +19.59% |
Max Drawdown (1Y)Largest decline over 1 year | -1.92% | -2.10% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -5.90% | -6.43% | +0.53% |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | -20.61% | +0.94% |
Current DrawdownCurrent decline from peak | -1.15% | -1.36% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -6.82% | +5.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.61% | -0.09% |
Volatility
RPIFX vs. BFRAX - Volatility Comparison
T. Rowe Price Institutional Floating Rate Fund (RPIFX) has a higher volatility of 0.71% compared to BlackRock Floating Rate Income Fund (BFRAX) at 0.66%. This indicates that RPIFX's price experiences larger fluctuations and is considered to be riskier than BFRAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPIFX | BFRAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.66% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 1.65% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.79% | 2.98% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 2.76% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 3.94% | -0.15% |