SLQD vs. PRCHX
SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) and PRCHX (T. Rowe Price Capital Appreciation and Income Fund Class I) are both funds - SLQD is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid Investment Grade 0-5 Index, while PRCHX is a Diversified Portfolio fund actively managed by T. Rowe Price. SLQD is passively managed, while PRCHX is actively managed. Over the past year, SLQD returned 4.39% vs 11.41% for PRCHX. At a 0.44 correlation, their price movements are largely independent. SLQD charges 0.06%/yr vs 0.49%/yr for PRCHX.
Performance
SLQD vs. PRCHX - Performance Comparison
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Returns By Period
In the year-to-date period, SLQD achieves a 1.01% return, which is significantly lower than PRCHX's 2.61% return.
SLQD
- 1D
- -0.02%
- 1M
- 0.26%
- YTD
- 1.01%
- 6M
- 1.39%
- 1Y
- 4.39%
- 3Y*
- 5.51%
- 5Y*
- 2.53%
- 10Y*
- 2.71%
PRCHX
- 1D
- 0.68%
- 1M
- -0.41%
- YTD
- 2.61%
- 6M
- 3.48%
- 1Y
- 11.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SLQD vs. PRCHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 1.01% | 6.27% | 4.94% | 1.50% |
PRCHX T. Rowe Price Capital Appreciation and Income Fund Class I | 2.61% | 13.68% | 8.92% | 3.12% |
Correlation
The correlation between SLQD and PRCHX is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023 | 0.44 |
The correlation between SLQD and PRCHX has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.
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Return for Risk
SLQD vs. PRCHX — Risk / Return Rank
SLQD
PRCHX
SLQD vs. PRCHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) and T. Rowe Price Capital Appreciation and Income Fund Class I (PRCHX). 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.
| SLQD | PRCHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.41 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.15 | 2.63 | +1.52 |
| Martin ratioReturn relative to average drawdown | 18.78 | 12.99 | +5.78 |
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Drawdowns
SLQD vs. PRCHX - Drawdown Comparison
The maximum SLQD drawdown since its inception was -12.69%, which is greater than PRCHX's maximum drawdown of -6.10%. Use the drawdown chart below to compare losses from any high point for SLQD and PRCHX.
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Drawdown Indicators
| SLQD | PRCHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.69% | -6.10% | -6.59% |
Max Drawdown (1Y)Largest decline over 1 year | -1.06% | -4.50% | +3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -7.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.69% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -1.37% | +1.35% |
Average DrawdownAverage peak-to-trough decline | -0.87% | -0.65% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.91% | -0.68% |
Volatility
SLQD vs. PRCHX - Volatility Comparison
The current volatility for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) is 0.53%, while T. Rowe Price Capital Appreciation and Income Fund Class I (PRCHX) has a volatility of 2.18%. This indicates that SLQD experiences smaller price fluctuations and is considered to be less risky than PRCHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLQD | PRCHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 2.18% | -1.65% |
Volatility (6M)Calculated over the trailing 6-month period | 1.13% | 4.44% | -3.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.49% | 5.46% | -3.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.44% | 6.56% | -4.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.14% | 6.56% | -3.42% |
SLQD vs. PRCHX - Expense Ratio Comparison
SLQD has a 0.06% expense ratio, which is lower than PRCHX's 0.49% expense ratio.
Dividends
SLQD vs. PRCHX - Dividend Comparison
SLQD's dividend yield for the trailing twelve months is around 4.31%, less than PRCHX's 5.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRCHX T. Rowe Price Capital Appreciation and Income Fund Class I | 5.20% | 5.08% | 3.22% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 4.31% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
Frequently Asked Questions
SLQD and PRCHX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRCHX has higher volatility (2.18%) compared to SLQD (0.53%). In terms of maximum drawdown, SLQD dropped -12.69% vs PRCHX's -6.10%.
SLQD currently has the higher Sharpe Ratio (2.96 vs 2.16), 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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