RPIFX vs. TFAIX
Compare and contrast key facts about T. Rowe Price Institutional Floating Rate Fund (RPIFX) and T. Rowe Price Floating Rate Fund Class I (TFAIX).
RPIFX is managed by T. Rowe Price. It was launched on Jan 30, 2008. TFAIX is an actively managed fund by T. Rowe Price. It was launched on Nov 29, 2016.
Performance
RPIFX vs. TFAIX - Performance Comparison
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RPIFX vs. TFAIX - 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% | 3.68% |
TFAIX T. Rowe Price Floating Rate Fund Class I | -1.09% | 6.61% | 9.06% | 10.85% | -1.85% | 4.73% | 1.88% | 8.71% | 0.06% | 3.39% |
Returns By Period
In the year-to-date period, RPIFX achieves a -0.94% return, which is significantly higher than TFAIX's -1.09% return.
RPIFX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -0.94%
- 6M
- 0.62%
- 1Y
- 5.04%
- 3Y*
- 6.99%
- 5Y*
- 5.01%
- 10Y*
- 4.79%
TFAIX
- 1D
- -0.11%
- 1M
- -0.11%
- YTD
- -1.09%
- 6M
- 0.45%
- 1Y
- 4.85%
- 3Y*
- 7.34%
- 5Y*
- 5.26%
- 10Y*
- —
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RPIFX vs. TFAIX - Expense Ratio Comparison
RPIFX has a 0.57% expense ratio, which is lower than TFAIX's 0.63% expense ratio.
Return for Risk
RPIFX vs. TFAIX — Risk / Return Rank
RPIFX
TFAIX
RPIFX vs. TFAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Floating Rate Fund (RPIFX) and T. Rowe Price Floating Rate Fund Class I (TFAIX). 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 | TFAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.00 | 1.91 | +0.09 |
Sortino ratioReturn per unit of downside risk | 3.60 | 3.39 | +0.21 |
Omega ratioGain probability vs. loss probability | 1.69 | 1.61 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.54 | +0.15 |
Martin ratioReturn relative to average drawdown | 10.49 | 9.77 | +0.72 |
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 | TFAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 1.91 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.85 | 1.92 | -0.07 |
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 | 1.14 | +0.13 |
Correlation
The correlation between RPIFX and TFAIX is 0.79, 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. TFAIX - Dividend Comparison
RPIFX's dividend yield for the trailing twelve months is around 6.63%, which matches TFAIX's 6.59% 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% |
TFAIX T. Rowe Price Floating Rate Fund Class I | 6.59% | 7.14% | 8.30% | 7.12% | 4.13% | 3.98% | 4.12% | 4.97% | 5.01% | 4.15% | 0.00% | 0.00% |
Drawdowns
RPIFX vs. TFAIX - Drawdown Comparison
The maximum RPIFX drawdown since its inception was -25.10%, which is greater than TFAIX's maximum drawdown of -19.93%. Use the drawdown chart below to compare losses from any high point for RPIFX and TFAIX.
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Drawdown Indicators
| RPIFX | TFAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.10% | -19.93% | -5.17% |
Max Drawdown (1Y)Largest decline over 1 year | -1.92% | -1.96% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -5.90% | -5.88% | -0.02% |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | — | — |
Current DrawdownCurrent decline from peak | -1.15% | -1.31% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -0.80% | -0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.54% | -0.02% |
Volatility
RPIFX vs. TFAIX - Volatility Comparison
The current volatility for T. Rowe Price Institutional Floating Rate Fund (RPIFX) is 0.72%, while T. Rowe Price Floating Rate Fund Class I (TFAIX) has a volatility of 0.77%. This indicates that RPIFX experiences smaller price fluctuations and is considered to be less risky than TFAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPIFX | TFAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 0.77% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 1.81% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.80% | 2.81% | -0.01% |
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% | 3.96% | -0.17% |