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.
Performance
RPIFX vs. FIQSX - Performance Comparison
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RPIFX vs. FIQSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
RPIFX T. Rowe Price Institutional Floating Rate Fund | -0.94% | 6.71% | 8.47% | 10.13% | -1.96% | 4.67% | 2.42% | 8.82% | -2.81% |
FIQSX Fidelity Advisor Floating Rate High Income Fund Class Z | -0.61% | 5.53% | 8.80% | 11.71% | -1.49% | 5.06% | 1.86% | 8.56% | -3.27% |
Returns By Period
In the year-to-date period, RPIFX achieves a -0.94% return, which is significantly lower than FIQSX's -0.61% 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%
FIQSX
- 1D
- 0.00%
- 1M
- 0.22%
- YTD
- -0.61%
- 6M
- 0.79%
- 1Y
- 4.71%
- 3Y*
- 7.33%
- 5Y*
- 5.37%
- 10Y*
- —
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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.
Return for Risk
RPIFX vs. FIQSX — Risk / Return Rank
RPIFX
FIQSX
RPIFX vs. FIQSX - Risk-Adjusted Trends 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.
| RPIFX | FIQSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.85 | 1.47 | +0.38 |
Sortino ratioReturn per unit of downside risk | 3.28 | 2.06 | +1.22 |
Omega ratioGain probability vs. loss probability | 1.63 | 1.49 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 2.68 | 1.88 | +0.80 |
Martin ratioReturn relative to average drawdown | 10.39 | 8.89 | +1.49 |
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 | FIQSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 1.47 | +0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.85 | 1.90 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.27 | 1.02 | +0.25 |
Correlation
The correlation between RPIFX and FIQSX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
RPIFX vs. FIQSX - Dividend Comparison
RPIFX's dividend yield for the trailing twelve months is around 6.63%, less than FIQSX's 6.80% 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% |
FIQSX Fidelity Advisor Floating Rate High Income Fund Class Z | 6.80% | 7.47% | 8.40% | 7.55% | 3.86% | 2.79% | 3.90% | 5.20% | 1.37% | 0.00% | 0.00% | 0.00% |
Drawdowns
RPIFX vs. FIQSX - Drawdown Comparison
The maximum RPIFX drawdown since its inception was -25.10%, which is greater than FIQSX's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for RPIFX and FIQSX.
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Drawdown Indicators
| RPIFX | FIQSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.10% | -22.19% | -2.91% |
Max Drawdown (1Y)Largest decline over 1 year | -1.92% | -2.63% | +0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -5.90% | -5.86% | -0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | — | — |
Current DrawdownCurrent decline from peak | -1.15% | -0.82% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -1.13% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.58% | -0.06% |
Volatility
RPIFX vs. FIQSX - Volatility Comparison
T. Rowe Price Institutional Floating Rate Fund (RPIFX) has a higher volatility of 0.71% compared to Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX) at 0.56%. 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.
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Volatility by Period
| RPIFX | FIQSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.56% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 1.62% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.79% | 3.24% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 2.84% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 4.67% | -0.88% |