RPIFX vs. LFRIX
RPIFX (T. Rowe Price Institutional Floating Rate Fund) and LFRIX (Lord Abbett Floating Rate Fund) are both Bank Loan funds. Over the past 10 years, RPIFX returned 4.66%/yr vs 4.47%/yr for LFRIX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. RPIFX charges 0.57%/yr vs 0.60%/yr for LFRIX.
Performance
RPIFX vs. LFRIX - Performance Comparison
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Returns By Period
In the year-to-date period, RPIFX achieves a 0.83% return, which is significantly lower than LFRIX's 2.32% return. Both investments have delivered pretty close results over the past 10 years, with RPIFX having a 4.66% annualized return and LFRIX not far behind at 4.47%.
RPIFX
- 1D
- 0.00%
- 1M
- -0.11%
- 6M
- 0.78%
- YTD
- 0.83%
- 1Y
- 3.67%
- 3Y*
- 6.47%
- 5Y*
- 5.11%
- 10Y*
- 4.66%
- ALL TIME*
- 4.64%
LFRIX
- 1D
- -0.12%
- 1M
- -0.25%
- 6M
- 2.13%
- YTD
- 2.32%
- 1Y
- 5.39%
- 3Y*
- 7.05%
- 5Y*
- 5.47%
- 10Y*
- 4.47%
- ALL TIME*
- 4.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RPIFX vs. LFRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RPIFX T. Rowe Price Institutional Floating Rate Fund | 0.83% | 6.71% | 8.47% | 10.13% | -1.96% | 4.67% | 2.42% | 8.82% | 0.39% | 3.78% |
LFRIX Lord Abbett Floating Rate Fund | 2.32% | 6.30% | 8.28% | 12.22% | -2.99% | 5.48% | -1.47% | 7.59% | -0.01% | 3.97% |
Correlation
The correlation between RPIFX and LFRIX is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.48 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2008 | 0.69 |
Over the past year, the correlation between RPIFX and LFRIX has dropped to 0.40 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.
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Return for Risk
RPIFX vs. LFRIX — Risk / Return Rank
RPIFX
LFRIX
RPIFX vs. LFRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Floating Rate Fund (RPIFX) and Lord Abbett Floating Rate Fund (LFRIX). 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.
| RPIFX | LFRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.78 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 3.40 | -0.91 |
| Martin ratioReturn relative to average drawdown | 8.13 | 12.60 | -4.47 |
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Drawdowns
RPIFX vs. LFRIX - Drawdown Comparison
The maximum RPIFX drawdown since its inception was -25.10%, smaller than the maximum LFRIX drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for RPIFX and LFRIX.
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Drawdown Indicators
| RPIFX | LFRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.10% | -27.90% | +2.80% |
Max Drawdown (1Y)Largest decline over 1 year | -1.44% | -1.55% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -2.28% | -2.59% | +0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -5.90% | -6.23% | +0.33% |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | -21.75% | +2.08% |
Current DrawdownCurrent decline from peak | -0.39% | -0.37% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -1.33% | -1.93% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.42% | +0.02% |
Volatility
RPIFX vs. LFRIX - Volatility Comparison
The current volatility for T. Rowe Price Institutional Floating Rate Fund (RPIFX) is 0.31%, while Lord Abbett Floating Rate Fund (LFRIX) has a volatility of 0.34%. This indicates that RPIFX experiences smaller price fluctuations and is considered to be less risky than LFRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPIFX | LFRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.31% | 0.34% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.69% | 1.90% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.25% | 2.44% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.76% | 2.87% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 3.91% | -0.12% |
RPIFX vs. LFRIX - Expense Ratio Comparison
RPIFX has a 0.57% expense ratio, which is lower than LFRIX's 0.60% expense ratio.
Dividends
RPIFX vs. LFRIX - Dividend Comparison
RPIFX's dividend yield for the trailing twelve months is around 5.80%, less than LFRIX's 6.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LFRIX Lord Abbett Floating Rate Fund | 6.24% | 7.20% | 7.68% | 7.63% | 3.95% | 4.01% | 4.64% | 5.71% | 5.60% | 4.65% | 4.64% | 4.72% |
RPIFX T. Rowe Price Institutional Floating Rate Fund | 5.80% | 7.22% | 7.77% | 6.53% | 4.12% | 3.94% | 4.29% | 5.12% | 5.16% | 4.32% | 4.31% | 4.45% |
Frequently Asked Questions
RPIFX and LFRIX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LFRIX has higher volatility (0.34%) compared to RPIFX (0.31%). In terms of maximum drawdown, RPIFX dropped -25.10% vs LFRIX's -27.90%.
LFRIX currently has the higher Sharpe Ratio (2.20 vs 1.60), 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.
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