TFLR vs. ANGL
TFLR (T. Rowe Price Floating Rate ETF) and ANGL (VanEck Vectors Fallen Angel High Yield Bond ETF) are both exchange-traded funds - TFLR is a Bank Loan fund actively managed by T. Rowe Price, while ANGL is a High Yield Bonds fund tracking the BofA Merrill Lynch US Fallen Angel High Yield Index. TFLR is actively managed, while ANGL is passively managed. Over the past 3 years, TFLR returned 8.12%/yr vs 8.46%/yr for ANGL. At a 0.43 correlation, their price movements are largely independent. TFLR charges 0.60%/yr vs 0.35%/yr for ANGL.
Performance
TFLR vs. ANGL - Performance Comparison
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Returns By Period
In the year-to-date period, TFLR achieves a 1.39% return, which is significantly lower than ANGL's 1.55% return.
TFLR
- 1D
- -0.06%
- 1M
- 0.34%
- YTD
- 1.39%
- 6M
- 2.07%
- 1Y
- 5.72%
- 3Y*
- 8.12%
- 5Y*
- —
- 10Y*
- —
ANGL
- 1D
- -0.21%
- 1M
- 0.49%
- YTD
- 1.55%
- 6M
- 1.64%
- 1Y
- 8.16%
- 3Y*
- 8.46%
- 5Y*
- 3.44%
- 10Y*
- 6.27%
TFLR vs. ANGL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TFLR T. Rowe Price Floating Rate ETF | 1.39% | 6.57% | 8.77% | 12.05% | -0.41% |
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 1.55% | 9.04% | 6.06% | 12.52% | 1.23% |
Correlation
The correlation between TFLR and ANGL is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2022 | 0.43 |
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Return for Risk
TFLR vs. ANGL — Risk / Return Rank
TFLR
ANGL
TFLR vs. ANGL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate ETF (TFLR) and VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL). 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.
| TFLR | ANGL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.37 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 2.02 | +0.62 |
| Martin ratioReturn relative to average drawdown | 12.12 | 8.49 | +3.63 |
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
| TFLR | ANGL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.91 | 1.90 | +1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.45 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.68 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.18 | 0.74 | +1.44 |
Drawdowns
TFLR vs. ANGL - Drawdown Comparison
The maximum TFLR drawdown since its inception was -4.01%, smaller than the maximum ANGL drawdown of -29.31%. Use the drawdown chart below to compare losses from any high point for TFLR and ANGL.
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Drawdown Indicators
| TFLR | ANGL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.01% | -29.31% | +25.30% |
Max Drawdown (1Y)Largest decline over 1 year | -2.18% | -4.05% | +1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -4.01% | -5.48% | +1.47% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.31% | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.30% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -3.30% | +3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 0.96% | -0.49% |
Volatility
TFLR vs. ANGL - Volatility Comparison
The current volatility for T. Rowe Price Floating Rate ETF (TFLR) is 0.41%, while VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) has a volatility of 1.37%. This indicates that TFLR experiences smaller price fluctuations and is considered to be less risky than ANGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TFLR | ANGL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 1.37% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 1.73% | 3.46% | -1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.98% | 4.31% | -2.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.68% | 7.63% | -3.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.68% | 9.28% | -5.60% |
TFLR vs. ANGL - Expense Ratio Comparison
TFLR has a 0.60% expense ratio, which is higher than ANGL's 0.35% expense ratio.
Dividends
TFLR vs. ANGL - Dividend Comparison
TFLR's dividend yield for the trailing twelve months is around 6.77%, more than ANGL's 6.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 6.37% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
TFLR T. Rowe Price Floating Rate ETF | 6.77% | 6.93% | 8.18% | 7.76% | 0.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TFLR and ANGL have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ANGL has higher volatility (1.37%) compared to TFLR (0.41%). In terms of maximum drawdown, TFLR dropped -4.01% vs ANGL's -29.31%.
On 3-year performance, ANGL leads with 8.46% vs 8.12% for TFLR. On fees, ANGL is cheaper at 0.35% per year. On volatility, TFLR has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ANGL has performed better with a 8.46% return vs 8.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ANGL is cheaper with a 0.35% expense ratio, compared with 0.60% for TFLR.
TFLR has the higher dividend yield at 6.77%, compared with 6.37% for ANGL.
TFLR is categorized as Bank Loan, while ANGL is High Yield Bonds. They also come from different issuers: T. Rowe Price and VanEck. Their fees differ too: 0.60% for TFLR and 0.35% for ANGL.
TFLR currently has the higher Sharpe Ratio (2.91 vs 1.90), 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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