TBUX vs. RPRX
TBUX (T. Rowe Price Ultra Short-Term Bond ETF) is Ultrashort Bond fund actively managed by T. Rowe Price, while RPRX (Royalty Pharma plc) is a stock. Over the past 3 years, TBUX returned 5.85%/yr vs 21.21%/yr for RPRX. At a 0.04 correlation, their price movements are largely independent.
Performance
TBUX vs. RPRX - Performance Comparison
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Returns By Period
In the year-to-date period, TBUX achieves a 1.65% return, which is significantly lower than RPRX's 43.64% return.
TBUX
- 1D
- -0.04%
- 1M
- 0.41%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 4.77%
- 3Y*
- 5.85%
- 5Y*
- —
- 10Y*
- —
RPRX
- 1D
- 1.78%
- 1M
- 9.99%
- YTD
- 43.64%
- 6M
- 40.16%
- 1Y
- 68.67%
- 3Y*
- 21.21%
- 5Y*
- 6.45%
- 10Y*
- —
TBUX vs. RPRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 1.65% | 5.37% | 6.38% | 6.39% | -0.13% | -0.22% |
RPRX Royalty Pharma plc | 43.64% | 55.29% | -6.36% | -27.08% | 0.99% | 9.08% |
Correlation
The correlation between TBUX and RPRX is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.04 |
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Return for Risk
TBUX vs. RPRX — Risk / Return Rank
TBUX
RPRX
TBUX vs. RPRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Ultra Short-Term Bond ETF (TBUX) and Royalty Pharma plc (RPRX). 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.
| TBUX | RPRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.96 | ||
| Sortino ratioReturn per unit of downside risk | +10.41 | ||
| Omega ratioGain probability vs. loss probability | 3.08 | 1.53 | +1.56 |
| Calmar ratioReturn relative to maximum drawdown | 39.71 | 9.35 | +30.36 |
| Martin ratioReturn relative to average drawdown | 170.19 | 23.50 | +146.69 |
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
| TBUX | RPRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.13 | 3.17 | +3.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.89 | 0.22 | +3.67 |
Drawdowns
TBUX vs. RPRX - Drawdown Comparison
The maximum TBUX drawdown since its inception was -1.79%, smaller than the maximum RPRX drawdown of -49.68%. Use the drawdown chart below to compare losses from any high point for TBUX and RPRX.
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Drawdown Indicators
| TBUX | RPRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.79% | -49.68% | +47.89% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -7.38% | +7.26% |
Max Drawdown (3Y)Largest decline over 3 years | -0.33% | -26.46% | +26.13% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.44% | — |
Current DrawdownCurrent decline from peak | -0.04% | -1.42% | +1.38% |
Average DrawdownAverage peak-to-trough decline | -0.28% | -26.44% | +26.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 2.93% | -2.90% |
Volatility
TBUX vs. RPRX - Volatility Comparison
The current volatility for T. Rowe Price Ultra Short-Term Bond ETF (TBUX) is 0.19%, while Royalty Pharma plc (RPRX) has a volatility of 6.08%. This indicates that TBUX experiences smaller price fluctuations and is considered to be less risky than RPRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBUX | RPRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 6.08% | -5.89% |
Volatility (6M)Calculated over the trailing 6-month period | 0.43% | 14.04% | -13.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.67% | 21.75% | -21.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.07% | 23.92% | -22.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.07% | 26.87% | -25.80% |
Dividends
TBUX vs. RPRX - Dividend Comparison
TBUX's dividend yield for the trailing twelve months is around 4.48%, more than RPRX's 1.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
RPRX Royalty Pharma plc | 1.66% | 2.28% | 3.29% | 2.85% | 1.92% | 1.71% | 0.60% |
TBUX T. Rowe Price Ultra Short-Term Bond ETF | 4.48% | 4.67% | 5.39% | 4.66% | 2.58% | 0.27% | 0.00% |
Frequently Asked Questions
TBUX and RPRX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPRX has higher volatility (6.08%) compared to TBUX (0.19%). In terms of maximum drawdown, TBUX dropped -1.79% vs RPRX's -49.68%.
TBUX currently has the higher Sharpe Ratio (7.13 vs 3.17), 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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