RPIFX vs. TRBUX
Compare and contrast key facts about T. Rowe Price Institutional Floating Rate Fund (RPIFX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX).
RPIFX is managed by T. Rowe Price. It was launched on Jan 30, 2008. TRBUX is managed by T. Rowe Price. It was launched on Dec 3, 2012.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: RPIFX or TRBUX.
Key characteristics
| RPIFX | TRBUX | |
|---|---|---|
| YTD Return | 7.69% | 5.59% |
| 1Y Return | 10.51% | 7.09% |
| 3Y Return (Ann) | 6.55% | 3.55% |
| 5Y Return (Ann) | 5.65% | 2.93% |
| 10Y Return (Ann) | 4.82% | 2.42% |
| Sharpe Ratio | 3.84 | 4.14 |
| Sortino Ratio | 12.82 | 12.27 |
| Omega Ratio | 4.07 | 5.34 |
| Calmar Ratio | 14.23 | 35.60 |
| Martin Ratio | 81.15 | 73.62 |
| Ulcer Index | 0.13% | 0.10% |
| Daily Std Dev | 2.74% | 1.71% |
| Max Drawdown | -22.53% | -4.15% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between RPIFX and TRBUX is 0.28, 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.
Performance
RPIFX vs. TRBUX - Performance Comparison
In the year-to-date period, RPIFX achieves a 7.69% return, which is significantly higher than TRBUX's 5.59% return. Over the past 10 years, RPIFX has outperformed TRBUX with an annualized return of 4.82%, while TRBUX has yielded a comparatively lower 2.42% annualized return. 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. TRBUX - Expense Ratio Comparison
RPIFX has a 0.57% expense ratio, which is higher than TRBUX's 0.31% expense ratio.
Risk-Adjusted Performance
RPIFX vs. TRBUX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Floating Rate Fund (RPIFX) and T. Rowe Price Ultra Short-Term Bond Fund (TRBUX). 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. TRBUX - Dividend Comparison
RPIFX's dividend yield for the trailing twelve months is around 8.67%, more than TRBUX's 5.02% 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% |
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 5.02% | 4.02% | 1.97% | 1.11% | 1.83% | 2.72% | 2.58% | 1.88% | 1.20% | 0.80% | 0.42% | 0.06% |
Drawdowns
RPIFX vs. TRBUX - Drawdown Comparison
The maximum RPIFX drawdown since its inception was -22.53%, which is greater than TRBUX's maximum drawdown of -4.15%. Use the drawdown chart below to compare losses from any high point for RPIFX and TRBUX. For additional features, visit the drawdowns tool.
Volatility
RPIFX vs. TRBUX - Volatility Comparison
T. Rowe Price Institutional Floating Rate Fund (RPIFX) has a higher volatility of 0.83% compared to T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) at 0.41%. This indicates that RPIFX's price experiences larger fluctuations and is considered to be riskier than TRBUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.