SLQD vs. PRFRX

Last updated Jun 4, 2026

SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) and PRFRX (T. Rowe Price Floating Rate Fund) are both funds - SLQD is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid Investment Grade 0-5 Index, while PRFRX is a High Yield Bonds fund managed by T. Rowe Price. Over the past 10 years, SLQD returned 2.66%/yr vs 5.51%/yr for PRFRX. At a 0.07 correlation, their price movements are largely independent. SLQD charges 0.06%/yr vs 0.75%/yr for PRFRX.

Performance

SLQD vs. PRFRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) and T. Rowe Price Floating Rate Fund (PRFRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLQD achieves a 0.84% return, which is significantly lower than PRFRX's 1.39% return. Over the past 10 years, SLQD has underperformed PRFRX with an annualized return of 2.66%, while PRFRX has yielded a comparatively higher 5.51% annualized return.

SLQD

• 1D: -0.08%
• 1M: 0.24%
• YTD: 0.84%
• 6M: 1.16%
• 1Y: 4.46%
• 3Y*: 5.35%
• 5Y*: 2.52%
• 10Y*: 2.66%

PRFRX

• 1D: 0.00%
• 1M: 0.45%
• YTD: 1.39%
• 6M: 2.68%
• 1Y: 8.28%
• 3Y*: 10.21%
• 5Y*: 7.09%
• 10Y*: 5.51%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SLQD vs. PRFRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF	0.84%	6.27%	4.94%	5.98%	-4.38%	-0.61%	4.76%	6.09%	1.09%	2.12%
PRFRX T. Rowe Price Floating Rate Fund	1.39%	9.82%	11.04%	13.78%	-1.95%	4.60%	1.75%	8.46%	-0.08%	3.48%

Correlation

The correlation between SLQD and PRFRX is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.09
Correlation (All Time) Calculated using the full available price history since Oct 18, 2013	0.07

Return for Risk

SLQD vs. PRFRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SLQD

SLQD Risk / Return Rank: 88
SLQD Sharpe Ratio Rank: 88
SLQD Sortino Ratio Rank: 94
SLQD Omega Ratio Rank: 92
SLQD Calmar Ratio Rank: 80
SLQD Martin Ratio Rank: 87

PRFRX

PRFRX Risk / Return Rank: 96
PRFRX Sharpe Ratio Rank: 93
PRFRX Sortino Ratio Rank: 99
PRFRX Omega Ratio Rank: 98
PRFRX Calmar Ratio Rank: 94
PRFRX Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SLQD vs. PRFRX - 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 Floating Rate Fund (PRFRX). 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.

	SLQD	PRFRX	Difference
Sharpe ratio: Return per unit of total volatility	3.02	3.15	-0.14
Sortino ratio: Return per unit of downside risk	4.88	8.09	-3.21
Omega ratio: Gain probability vs. loss probability	1.62	2.31	-0.69
Calmar ratio: Return relative to maximum drawdown	4.22	5.54	-1.33
Martin ratio: Return relative to average drawdown	19.08	20.99	-1.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLQD vs. PRFRX - Sharpe Ratio Comparison

The current SLQD Sharpe Ratio is 3.02, which is comparable to the PRFRX Sharpe Ratio of 3.15. The chart below compares the historical Sharpe Ratios of SLQD and PRFRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SLQD	PRFRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.02	3.15	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.04	2.45	-1.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	1.41	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	1.43	-0.58

Drawdowns

SLQD vs. PRFRX - Drawdown Comparison

The maximum SLQD drawdown since its inception was -12.69%, smaller than the maximum PRFRX drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for SLQD and PRFRX.

Drawdown Indicators

	SLQD	PRFRX	Difference
Max Drawdown Largest peak-to-trough decline	-12.69%	-20.05%	+7.36%
Max Drawdown (1Y) Largest decline over 1 year	-1.06%	-1.50%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-1.06%	-2.35%	+1.29%
Max Drawdown (5Y) Largest decline over 5 years	-7.63%	-5.94%	-1.69%
Max Drawdown (10Y) Largest decline over 10 years	-12.69%	-20.05%	+7.36%
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-0.87%	-0.69%	-0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	0.40%	-0.17%

Volatility

SLQD vs. PRFRX - Volatility Comparison

The current volatility for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) is 0.46%, while T. Rowe Price Floating Rate Fund (PRFRX) has a volatility of 0.61%. This indicates that SLQD experiences smaller price fluctuations and is considered to be less risky than PRFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLQD	PRFRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	0.61%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	1.09%	1.84%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	1.49%	2.63%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.44%	2.91%	-0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.14%	3.92%	-0.78%

SLQD vs. PRFRX - Expense Ratio Comparison

SLQD has a 0.06% expense ratio, which is lower than PRFRX's 0.75% expense ratio.

Dividends

SLQD vs. PRFRX - Dividend Comparison

SLQD's dividend yield for the trailing twelve months is around 4.32%, less than PRFRX's 9.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRFRX T. Rowe Price Floating Rate Fund	9.21%	9.99%	10.20%	9.57%	4.03%	3.86%	4.00%	4.84%	4.87%	4.04%	4.07%	4.07%
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF	4.32%	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

Can I hold both SLQD and PRFRX in my portfolio?

SLQD and PRFRX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLQD or PRFRX?

PRFRX has higher volatility (0.61%) compared to SLQD (0.46%). In terms of maximum drawdown, SLQD dropped -12.69% vs PRFRX's -20.05%.

Which has better risk-adjusted returns?

PRFRX currently has the higher Sharpe Ratio (3.15 vs 3.02), 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.