RPLCX vs. DEEIX
RPLCX (T. Rowe Price Institutional Long Duration Credit Fund) and DEEIX (Delaware Extended Duration Bond Fund) are both Long-Term Bond funds. Over the past 10 years, RPLCX returned 2.30%/yr vs 2.07%/yr for DEEIX. Their correlation of 0.95 suggests significant overlap in exposure. RPLCX charges 0.45%/yr vs 0.57%/yr for DEEIX.
Performance
RPLCX vs. DEEIX - Performance Comparison
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Returns By Period
In the year-to-date period, RPLCX achieves a 1.31% return, which is significantly lower than DEEIX's 1.51% return. Over the past 10 years, RPLCX has outperformed DEEIX with an annualized return of 2.30%, while DEEIX has yielded a comparatively lower 2.07% annualized return.
RPLCX
- 1D
- 0.27%
- 1M
- 2.51%
- YTD
- 1.31%
- 6M
- 2.05%
- 1Y
- 7.76%
- 3Y*
- 4.00%
- 5Y*
- -2.85%
- 10Y*
- 2.30%
DEEIX
- 1D
- 0.29%
- 1M
- 1.90%
- YTD
- 1.51%
- 6M
- 2.03%
- 1Y
- 6.88%
- 3Y*
- 3.88%
- 5Y*
- -2.84%
- 10Y*
- 2.07%
RPLCX vs. DEEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RPLCX T. Rowe Price Institutional Long Duration Credit Fund | 1.31% | 7.65% | -1.84% | 9.05% | -27.00% | -0.19% | 16.73% | 23.72% | -6.27% | 11.03% |
DEEIX Delaware Extended Duration Bond Fund | 1.51% | 6.26% | -1.29% | 9.21% | -26.47% | -0.70% | 15.17% | 22.02% | -7.69% | 12.61% |
Correlation
The correlation between RPLCX and DEEIX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.95 |
The correlation between RPLCX and DEEIX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
RPLCX vs. DEEIX — Risk / Return Rank
RPLCX
DEEIX
RPLCX vs. DEEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Long Duration Credit Fund (RPLCX) and Delaware Extended Duration Bond Fund (DEEIX). 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.
| RPLCX | DEEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.16 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.33 | +0.14 |
| Martin ratioReturn relative to average drawdown | 4.01 | 3.39 | +0.62 |
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Drawdowns
RPLCX vs. DEEIX - Drawdown Comparison
The maximum RPLCX drawdown since its inception was -35.21%, roughly equal to the maximum DEEIX drawdown of -34.48%. Use the drawdown chart below to compare losses from any high point for RPLCX and DEEIX.
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Drawdown Indicators
| RPLCX | DEEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.21% | -34.48% | -0.73% |
Max Drawdown (1Y)Largest decline over 1 year | -5.19% | -5.14% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -13.32% | -12.53% | -0.79% |
Max Drawdown (5Y)Largest decline over 5 years | -35.21% | -34.48% | -0.73% |
Max Drawdown (10Y)Largest decline over 10 years | -35.21% | -34.48% | -0.73% |
Current DrawdownCurrent decline from peak | -16.42% | -16.23% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -10.15% | -6.46% | -3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 2.02% | -0.12% |
Volatility
RPLCX vs. DEEIX - Volatility Comparison
T. Rowe Price Institutional Long Duration Credit Fund (RPLCX) has a higher volatility of 2.19% compared to Delaware Extended Duration Bond Fund (DEEIX) at 1.88%. This indicates that RPLCX's price experiences larger fluctuations and is considered to be riskier than DEEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPLCX | DEEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 1.88% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 5.68% | 5.41% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.72% | 7.43% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.63% | 11.60% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.60% | 10.60% | 0.00% |
RPLCX vs. DEEIX - Expense Ratio Comparison
RPLCX has a 0.45% expense ratio, which is lower than DEEIX's 0.57% expense ratio.
Dividends
RPLCX vs. DEEIX - Dividend Comparison
RPLCX's dividend yield for the trailing twelve months is around 5.33%, more than DEEIX's 5.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEEIX Delaware Extended Duration Bond Fund | 5.16% | 5.05% | 4.90% | 3.95% | 4.35% | 7.87% | 10.28% | 4.79% | 4.56% | 3.74% | 3.75% | 4.62% |
RPLCX T. Rowe Price Institutional Long Duration Credit Fund | 5.33% | 5.32% | 5.17% | 4.15% | 3.54% | 6.09% | 7.16% | 13.58% | 4.33% | 4.07% | 3.79% | 4.70% |
Frequently Asked Questions
With a correlation of 0.94, RPLCX and DEEIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
RPLCX has higher volatility (2.19%) compared to DEEIX (1.88%). In terms of maximum drawdown, RPLCX dropped -35.21% vs DEEIX's -34.48%.
RPLCX currently has the higher Sharpe Ratio (0.99 vs 0.92), 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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