TFAIX vs. RCRIX

Last updated Aug 1, 2026

TFAIX (T. Rowe Price Floating Rate Fund Class I) and RCRIX (RiverPark Floating Rate CMBS Fund) are both Bank Loan funds. Over the past 5 years, TFAIX returned 5.36%/yr vs 5.41%/yr for RCRIX. Their 0.18 correlation means their historical movements had little consistent relationship. TFAIX charges 0.63%/yr vs 0.85%/yr for RCRIX.

Performance

TFAIX vs. RCRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Floating Rate Fund Class I (TFAIX) and RiverPark Floating Rate CMBS Fund (RCRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFAIX achieves a 0.79% return, which is significantly lower than RCRIX's 2.66% return.

TFAIX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.86%
• YTD: 0.79%
• 1Y: 3.60%
• 3Y*: 6.87%
• 5Y*: 5.36%
• 10Y*: —
• ALL TIME*: 4.54%

RCRIX

• 1D: 0.00%
• 1M: 0.34%
• 6M: 2.15%
• YTD: 2.66%
• 1Y: 4.81%
• 3Y*: 7.09%
• 5Y*: 5.41%
• 10Y*: —
• ALL TIME*: 8.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RCRIX RiverPark Floating Rate CMBS Fund	$0.00	$0.00	$0.00
TFAIX T. Rowe Price Floating Rate Fund Class I	$0.00	$0.00	$0.00

TFAIX vs. RCRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TFAIX T. Rowe Price Floating Rate Fund Class I	0.79%	6.61%	9.06%	10.85%	-1.85%	4.73%	1.88%	8.71%	0.06%	1.95%
RCRIX RiverPark Floating Rate CMBS Fund	2.66%	5.56%	10.01%	9.85%	-0.72%	2.81%	-8.51%	4.46%	59.17%	3.09%

Correlation

The correlation between TFAIX and RCRIX is 0.18, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.18
Correlation (3Y) Balances recent behavior with more history.	0.16
Correlation (5Y) Shows whether the relationship held over a longer period.	0.20
Correlation (All Time) Calculated using the full available price history since Jun 12, 2017	0.18

Return for Risk

TFAIX vs. RCRIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TFAIX

TFAIX Risk / Return Rank: 72
TFAIX Sharpe Ratio Rank: 62
TFAIX Sortino Ratio Rank: 89
TFAIX Omega Ratio Rank: 89
TFAIX Calmar Ratio Rank: 64
TFAIX Martin Ratio Rank: 54

RCRIX

RCRIX Risk / Return Rank: 100
RCRIX Sharpe Ratio Rank: 100
RCRIX Sortino Ratio Rank: 100
RCRIX Omega Ratio Rank: 100
RCRIX Calmar Ratio Rank: 100
RCRIX Martin Ratio Rank: 100

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TFAIX vs. RCRIX - 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 RiverPark Floating Rate CMBS Fund (RCRIX). 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	RCRIX	Difference
Sharpe ratio: Return per unit of total volatility	1.53	6.42	-4.89
Sortino ratio: Return per unit of downside risk	3.31	18.62	-15.32
Omega ratio: Gain probability vs. loss probability	1.48	7.90	-6.42
Calmar ratio: Return relative to maximum drawdown	2.20	25.65	-23.45
Martin ratio: Return relative to average drawdown	7.46	159.89	-152.42

TFAIX vs. RCRIX - Sharpe Ratio Comparison

The current TFAIX Sharpe Ratio is 1.53, which is lower than the RCRIX Sharpe Ratio of 6.42. The chart below compares the historical Sharpe Ratios of TFAIX and RCRIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TFAIX vs. RCRIX - Drawdown Comparison

The maximum TFAIX drawdown since its inception was -19.93%, smaller than the maximum RCRIX drawdown of -30.00%. Use the drawdown chart below to compare losses from any high point for TFAIX and RCRIX.

Drawdown Indicators

	TFAIX	RCRIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.93%	-30.00%	+10.07%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	-0.19%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	-2.34%	-1.93%	-0.41%
Max Drawdown (5Y) Largest decline over 5 years	-5.88%	-3.75%	-2.13%
Current Drawdown Current decline from peak	-0.41%	0.00%	-0.41%
Average Drawdown Average peak-to-trough decline	-0.78%	-2.96%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	0.03%	+0.44%

Volatility

TFAIX vs. RCRIX - Volatility Comparison

T. Rowe Price Floating Rate Fund Class I (TFAIX) has a higher volatility of 0.30% compared to RiverPark Floating Rate CMBS Fund (RCRIX) at 0.19%. This indicates that TFAIX's price experiences larger fluctuations and is considered to be riskier than RCRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFAIX	RCRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.30%	0.19%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	1.76%	0.57%	+1.19%
Volatility (1Y) Calculated over the trailing 1-year period	2.36%	0.76%	+1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.79%	1.60%	+1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.91%	7.86%	-3.95%

TFAIX vs. RCRIX - Expense Ratio Comparison

TFAIX has a 0.63% expense ratio, which is lower than RCRIX's 0.85% expense ratio.

Dividends

TFAIX vs. RCRIX - Dividend Comparison

TFAIX's dividend yield for the trailing twelve months is around 5.78%, more than RCRIX's 4.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
RCRIX RiverPark Floating Rate CMBS Fund	4.35%	5.30%	6.85%	7.90%	3.80%	2.34%	3.16%	3.36%	49.16%	3.64%
TFAIX T. Rowe Price Floating Rate Fund Class I	5.78%	7.14%	8.30%	7.12%	4.13%	3.98%	4.12%	4.97%	5.01%	4.15%

Frequently Asked Questions

Can I hold both TFAIX and RCRIX in my portfolio?

TFAIX and RCRIX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TFAIX or RCRIX?

TFAIX has higher volatility (0.30%) compared to RCRIX (0.19%). In terms of maximum drawdown, TFAIX dropped -19.93% vs RCRIX's -30.00%.

Which has better risk-adjusted returns?

RCRIX currently has the higher Sharpe Ratio (6.42 vs 1.53), 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.