RPIFX vs. VCIT
Compare and contrast key facts about T. Rowe Price Institutional Floating Rate Fund (RPIFX) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT).
RPIFX is managed by T. Rowe Price. It was launched on Jan 30, 2008. VCIT is a passively managed fund by Vanguard that tracks the performance of the Barclays U.S. 5-10 Year Corp Index. It was launched on Nov 19, 2009.
Performance
RPIFX vs. VCIT - Performance Comparison
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RPIFX vs. VCIT - 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% | 3.78% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | -0.45% | 9.34% | 3.20% | 8.98% | -13.98% | -1.77% | 9.46% | 14.10% | -1.74% | 5.31% |
Returns By Period
In the year-to-date period, RPIFX achieves a -0.94% return, which is significantly lower than VCIT's -0.45% return. Over the past 10 years, RPIFX has outperformed VCIT with an annualized return of 4.79%, while VCIT has yielded a comparatively lower 3.06% annualized 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%
VCIT
- 1D
- 0.55%
- 1M
- -1.98%
- YTD
- -0.45%
- 6M
- 0.69%
- 1Y
- 6.08%
- 3Y*
- 5.56%
- 5Y*
- 1.42%
- 10Y*
- 3.06%
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RPIFX vs. VCIT - Expense Ratio Comparison
RPIFX has a 0.57% expense ratio, which is higher than VCIT's 0.04% expense ratio.
Return for Risk
RPIFX vs. VCIT — Risk / Return Rank
RPIFX
VCIT
RPIFX vs. VCIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Floating Rate Fund (RPIFX) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT). 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 | VCIT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.00 | 1.26 | +0.75 |
Sortino ratioReturn per unit of downside risk | 3.60 | 1.76 | +1.84 |
Omega ratioGain probability vs. loss probability | 1.69 | 1.24 | +0.45 |
Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.07 | +0.61 |
Martin ratioReturn relative to average drawdown | 10.49 | 7.31 | +3.18 |
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 | VCIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 1.26 | +0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.85 | 0.22 | +1.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.27 | 0.49 | +0.78 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.27 | 0.75 | +0.51 |
Correlation
The correlation between RPIFX and VCIT is 0.09, 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.
Dividends
RPIFX vs. VCIT - Dividend Comparison
RPIFX's dividend yield for the trailing twelve months is around 6.63%, more than VCIT's 4.72% 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% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.72% | 4.62% | 4.43% | 3.72% | 3.03% | 2.87% | 2.78% | 3.37% | 3.61% | 3.21% | 3.29% | 3.34% |
Drawdowns
RPIFX vs. VCIT - Drawdown Comparison
The maximum RPIFX drawdown since its inception was -25.10%, which is greater than VCIT's maximum drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for RPIFX and VCIT.
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Drawdown Indicators
| RPIFX | VCIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.10% | -20.56% | -4.54% |
Max Drawdown (1Y)Largest decline over 1 year | -1.92% | -2.99% | +1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -5.90% | -20.56% | +14.66% |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | -20.56% | +0.89% |
Current DrawdownCurrent decline from peak | -1.15% | -1.98% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -3.18% | +1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.85% | -0.33% |
Volatility
RPIFX vs. VCIT - Volatility Comparison
The current volatility for T. Rowe Price Institutional Floating Rate Fund (RPIFX) is 0.72%, while Vanguard Intermediate-Term Corporate Bond ETF (VCIT) has a volatility of 2.07%. This indicates that RPIFX experiences smaller price fluctuations and is considered to be less risky than VCIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPIFX | VCIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 2.07% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 2.84% | -1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.80% | 4.85% | -2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 6.60% | -3.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 6.27% | -2.48% |