RPIFX vs. XTWO
Compare and contrast key facts about T. Rowe Price Institutional Floating Rate Fund (RPIFX) and Bondbloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO).
RPIFX is managed by T. Rowe Price. It was launched on Jan 30, 2008. XTWO is a passively managed fund by BondBloxx that tracks the performance of the Bloomberg US Treasury 2 Year Target Duration Index. It was launched on Sep 13, 2022.
Performance
RPIFX vs. XTWO - Performance Comparison
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RPIFX vs. XTWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RPIFX T. Rowe Price Institutional Floating Rate Fund | -0.94% | 6.71% | 8.47% | 10.13% | 0.47% |
XTWO Bondbloxx Bloomberg Two Year Target Duration US Treasury ETF | 0.21% | 5.17% | 3.92% | 4.27% | 0.17% |
Returns By Period
In the year-to-date period, RPIFX achieves a -0.94% return, which is significantly lower than XTWO's 0.21% 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%
XTWO
- 1D
- -0.06%
- 1M
- -0.39%
- YTD
- 0.21%
- 6M
- 1.18%
- 1Y
- 3.66%
- 3Y*
- 3.96%
- 5Y*
- —
- 10Y*
- —
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RPIFX vs. XTWO - Expense Ratio Comparison
RPIFX has a 0.57% expense ratio, which is higher than XTWO's 0.05% expense ratio.
Return for Risk
RPIFX vs. XTWO — Risk / Return Rank
RPIFX
XTWO
RPIFX vs. XTWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Floating Rate Fund (RPIFX) and Bondbloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO). 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 | XTWO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.85 | 2.36 | -0.51 |
Sortino ratioReturn per unit of downside risk | 3.28 | 3.73 | -0.45 |
Omega ratioGain probability vs. loss probability | 1.63 | 1.49 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 2.68 | 4.09 | -1.41 |
Martin ratioReturn relative to average drawdown | 10.39 | 14.75 | -4.36 |
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 | XTWO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 2.36 | -0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.85 | — | — |
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 | 1.77 | -0.50 |
Correlation
The correlation between RPIFX and XTWO is 0.07, 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. XTWO - Dividend Comparison
RPIFX's dividend yield for the trailing twelve months is around 6.63%, more than XTWO's 4.09% 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% |
XTWO Bondbloxx Bloomberg Two Year Target Duration US Treasury ETF | 4.09% | 4.24% | 4.54% | 4.07% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
RPIFX vs. XTWO - Drawdown Comparison
The maximum RPIFX drawdown since its inception was -25.10%, which is greater than XTWO's maximum drawdown of -1.73%. Use the drawdown chart below to compare losses from any high point for RPIFX and XTWO.
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Drawdown Indicators
| RPIFX | XTWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.10% | -1.73% | -23.37% |
Max Drawdown (1Y)Largest decline over 1 year | -1.92% | -0.91% | -1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -5.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | — | — |
Current DrawdownCurrent decline from peak | -1.15% | -0.58% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -1.35% | -0.40% | -0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.25% | +0.27% |
Volatility
RPIFX vs. XTWO - Volatility Comparison
T. Rowe Price Institutional Floating Rate Fund (RPIFX) has a higher volatility of 0.71% compared to Bondbloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) at 0.56%. This indicates that RPIFX's price experiences larger fluctuations and is considered to be riskier than XTWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPIFX | XTWO | 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% | 0.91% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.79% | 1.56% | +1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 2.20% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 2.20% | +1.59% |