TFAIX vs. BGT
TFAIX (T. Rowe Price Floating Rate Fund Class I) and BGT (BlackRock Floating Rate Income Trust) are both Bank Loan funds. Over the past 5 years, TFAIX returned 5.43%/yr vs 6.54%/yr for BGT. At a 0.28 correlation, their price movements are largely independent. TFAIX charges 0.63%/yr vs 1.74%/yr for BGT.
Performance
TFAIX vs. BGT - Performance Comparison
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Returns By Period
In the year-to-date period, TFAIX achieves a 0.78% return, which is significantly higher than BGT's -0.12% return.
TFAIX
- 1D
- -0.11%
- 1M
- -0.09%
- YTD
- 0.78%
- 6M
- 1.38%
- 1Y
- 5.07%
- 3Y*
- 7.70%
- 5Y*
- 5.43%
- 10Y*
- —
BGT
- 1D
- 0.09%
- 1M
- -1.11%
- YTD
- -0.12%
- 6M
- -0.34%
- 1Y
- -2.61%
- 3Y*
- 9.81%
- 5Y*
- 6.54%
- 10Y*
- 6.55%
TFAIX vs. BGT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TFAIX T. Rowe Price Floating Rate Fund Class I | 0.78% | 6.61% | 9.06% | 10.85% | -1.85% | 4.73% | 1.88% | 8.71% | 0.06% | 3.39% |
BGT BlackRock Floating Rate Income Trust | -0.12% | -0.84% | 16.12% | 26.29% | -16.57% | 25.89% | -0.81% | 18.97% | -11.95% | 3.91% |
Correlation
The correlation between TFAIX and BGT is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.28 |
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Return for Risk
TFAIX vs. BGT — Risk / Return Rank
TFAIX
BGT
TFAIX vs. BGT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate Fund Class I (TFAIX) and BlackRock Floating Rate Income Trust (BGT). 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.
| TFAIX | BGT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.37 | ||
| Sortino ratioReturn per unit of downside risk | +5.12 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 0.96 | +0.75 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | -0.24 | +3.43 |
| Martin ratioReturn relative to average drawdown | 11.96 | -0.50 | +12.47 |
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Drawdowns
TFAIX vs. BGT - Drawdown Comparison
The maximum TFAIX drawdown since its inception was -19.93%, smaller than the maximum BGT drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for TFAIX and BGT.
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Drawdown Indicators
| TFAIX | BGT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.93% | -58.06% | +38.13% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -11.06% | +9.47% |
Max Drawdown (3Y)Largest decline over 3 years | -2.34% | -15.91% | +13.57% |
Max Drawdown (5Y)Largest decline over 5 years | -5.88% | -23.19% | +17.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.90% | — |
Current DrawdownCurrent decline from peak | -0.66% | -6.21% | +5.55% |
Average DrawdownAverage peak-to-trough decline | -0.78% | -8.11% | +7.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 5.19% | -4.77% |
Volatility
TFAIX vs. BGT - Volatility Comparison
The current volatility for T. Rowe Price Floating Rate Fund Class I (TFAIX) is 0.66%, while BlackRock Floating Rate Income Trust (BGT) has a volatility of 1.42%. This indicates that TFAIX experiences smaller price fluctuations and is considered to be less risky than BGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TFAIX | BGT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 1.42% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | 7.00% | -5.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.42% | 9.93% | -7.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.79% | 13.56% | -10.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 15.34% | -11.41% |
TFAIX vs. BGT - Expense Ratio Comparison
TFAIX has a 0.63% expense ratio, which is lower than BGT's 1.74% expense ratio.
Dividends
TFAIX vs. BGT - Dividend Comparison
TFAIX's dividend yield for the trailing twelve months is around 6.99%, less than BGT's 13.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGT BlackRock Floating Rate Income Trust | 13.62% | 12.74% | 11.22% | 10.36% | 6.87% | 5.55% | 7.58% | 6.33% | 6.64% | 5.03% | 5.03% | 6.04% |
TFAIX T. Rowe Price Floating Rate Fund Class I | 6.99% | 7.14% | 8.30% | 7.12% | 4.13% | 3.98% | 4.12% | 4.97% | 5.01% | 4.15% | 0.00% | 0.00% |
Frequently Asked Questions
TFAIX and BGT have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGT has higher volatility (1.42%) compared to TFAIX (0.66%). In terms of maximum drawdown, TFAIX dropped -19.93% vs BGT's -58.06%.
TFAIX currently has the higher Sharpe Ratio (2.10 vs -0.26), 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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