Correlation
The correlation between RPIFX and FIQSX is 0.30, 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.
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.
Performance
RPIFX vs. FIQSX - Performance Comparison
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Key characteristics
RPIFX:
2.57
FIQSX:
1.91
RPIFX:
4.91
FIQSX:
3.07
RPIFX:
2.12
FIQSX:
1.70
RPIFX:
3.24
FIQSX:
1.93
RPIFX:
15.96
FIQSX:
9.40
RPIFX:
0.46%
FIQSX:
0.65%
RPIFX:
2.89%
FIQSX:
3.19%
RPIFX:
-22.53%
FIQSX:
-22.19%
RPIFX:
-0.11%
FIQSX:
-0.33%
Returns By Period
In the year-to-date period, RPIFX achieves a 1.45% return, which is significantly higher than FIQSX's 0.46% return.
RPIFX
1.45%
1.58%
2.67%
7.39%
8.73%
7.11%
4.85%
FIQSX
0.46%
1.39%
1.57%
6.14%
8.27%
7.48%
N/A
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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 Rank
RPIFX
FIQSX
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.
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Dividends
RPIFX vs. FIQSX - Dividend Comparison
RPIFX's dividend yield for the trailing twelve months is around 7.99%, less than FIQSX's 8.11% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RPIFX T. Rowe Price Institutional Floating Rate Fund | 7.99% | 8.44% | 8.66% | 5.51% | 3.95% | 4.30% | 5.12% | 5.17% | 4.32% | 4.32% | 4.46% | 4.37% |
FIQSX Fidelity Advisor Floating Rate High Income Fund Class Z | 8.11% | 8.39% | 8.29% | 5.13% | 3.33% | 3.91% | 5.19% | 1.37% | 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.
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Volatility
RPIFX vs. FIQSX - Volatility Comparison
The current volatility for T. Rowe Price Institutional Floating Rate Fund (RPIFX) is 0.59%, while Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX) has a volatility of 0.69%. This indicates that RPIFX experiences smaller price fluctuations and is considered to be less risky than FIQSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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