RPIFX vs. FIQSX
Compare and contrast key facts about T. Rowe Price Institutional Floating Rate Fund (RPIFX) and Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX).
RPIFX is managed by T. Rowe Price. It was launched on Jan 30, 2008. FIQSX is managed by Fidelity. It was launched on Oct 2, 2018.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: RPIFX or FIQSX.
Key characteristics
| RPIFX | FIQSX | |
|---|---|---|
| YTD Return | 7.69% | 8.04% |
| 1Y Return | 10.51% | 9.93% |
| 3Y Return (Ann) | 6.55% | 6.38% |
| 5Y Return (Ann) | 5.65% | 5.68% |
| Sharpe Ratio | 3.84 | 3.75 |
| Sortino Ratio | 12.82 | 11.34 |
| Omega Ratio | 4.07 | 3.36 |
| Calmar Ratio | 14.23 | 11.36 |
| Martin Ratio | 81.15 | 59.71 |
| Ulcer Index | 0.13% | 0.16% |
| Daily Std Dev | 2.74% | 2.60% |
| Max Drawdown | -22.53% | -22.19% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between RPIFX and FIQSX is 0.61, 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.
Performance
RPIFX vs. FIQSX - Performance Comparison
The year-to-date returns for both investments are quite close, with RPIFX having a 7.69% return and FIQSX slightly higher at 8.04%. 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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RPIFX vs. FIQSX - Expense Ratio Comparison
RPIFX has a 0.57% expense ratio, which is lower than FIQSX's 0.62% expense ratio.
Risk-Adjusted Performance
RPIFX vs. FIQSX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Floating Rate Fund (RPIFX) and Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX). 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
RPIFX vs. FIQSX - Dividend Comparison
RPIFX's dividend yield for the trailing twelve months is around 8.67%, more than FIQSX's 8.45% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FIQSX Fidelity Advisor Floating Rate High Income Fund Class Z | 8.45% | 8.29% | 5.13% | 3.33% | 3.91% | 5.19% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
RPIFX vs. FIQSX - Drawdown Comparison
The maximum RPIFX drawdown since its inception was -22.53%, roughly equal to the maximum FIQSX drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for RPIFX and FIQSX. For additional features, visit the drawdowns tool.
Volatility
RPIFX vs. FIQSX - Volatility Comparison
T. Rowe Price Institutional Floating Rate Fund (RPIFX) has a higher volatility of 0.83% compared to Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX) at 0.60%. This indicates that RPIFX's price experiences larger fluctuations and is considered to be riskier than FIQSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.