PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
TFLR vs. FFRCX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TFLR vs. FFRCX

Last updated Jun 24, 2026

TFLR (T. Rowe Price Floating Rate ETF) and FFRCX (Fidelity Advisor Floating Rate High Income Fund Class C) are both funds - TFLR is a Bank Loan fund actively managed by T. Rowe Price, while FFRCX is a High Yield Bonds fund managed by Fidelity. Over the past 3 years, TFLR returned 7.75%/yr vs 5.92%/yr for FFRCX. At a 0.23 correlation, their price movements are largely independent. TFLR charges 0.60%/yr vs 1.73%/yr for FFRCX.

Performance

TFLR vs. FFRCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Floating Rate ETF (TFLR) and Fidelity Advisor Floating Rate High Income Fund Class C (FFRCX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with TFLR at 1.27% and FFRCX at 1.27%.

TFLR

1D
-0.14%
1M
-0.04%
YTD
1.27%
6M
1.45%
1Y
5.25%
3Y*
7.75%
5Y*
—
10Y*
—

FFRCX

1D
0.00%
1M
0.13%
YTD
1.27%
6M
1.78%
1Y
4.80%
3Y*
5.92%
5Y*
4.25%
10Y*
3.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TFLR vs. FFRCX - Yearly Performance Comparison

2026 (YTD)2025202420232022
TFLR
T. Rowe Price Floating Rate ETF		1.27%6.57%8.77%12.05%-0.44%
FFRCX
Fidelity Advisor Floating Rate High Income Fund Class C		1.27%4.38%6.18%10.70%0.43%

Correlation

The correlation between TFLR and FFRCX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.19

Correlation (All Time)
Calculated using the full available price history since Nov 17, 2022

0.23

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

T. Rowe Price Floating Rate ETF

Fidelity Advisor Floating Rate High Income Fund Class C

Often compared with TFLR:
TFLR vs. CLOZTFLR vs. JAAATFLR vs. FIQSXTFLR vs. BBBIXTFLR vs. JPLDTFLR vs. JBBBTFLR vs. ICLO
Often compared with FFRCX:
FFRCX vs. CCLFXFFRCX vs. FBGRXFFRCX vs. CRDOXFFRCX vs. FCNTXFFRCX vs. CPMPXFFRCX vs. CWFIXFFRCX vs. FHYSX

Return for Risk

TFLR vs. FFRCX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TFLR
TFLR Risk / Return Rank: 7777
Overall Rank
TFLR Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
TFLR Sortino Ratio Rank: 8989
Sortino Ratio Rank
TFLR Omega Ratio Rank: 9393
Omega Ratio Rank
TFLR Calmar Ratio Rank: 5151
Calmar Ratio Rank
TFLR Martin Ratio Rank: 6464
Martin Ratio Rank
FFRCX
FFRCX Risk / Return Rank: 8282
Overall Rank
FFRCX Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
FFRCX Sortino Ratio Rank: 9595
Sortino Ratio Rank
FFRCX Omega Ratio Rank: 9595
Omega Ratio Rank
FFRCX Calmar Ratio Rank: 8282
Calmar Ratio Rank
FFRCX Martin Ratio Rank: 6868
Martin Ratio Rank
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.

TFLR vs. FFRCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate ETF (TFLR) and Fidelity Advisor Floating Rate High Income Fund Class C (FFRCX). 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.

TFLRFFRCXDifference
Sharpe ratioReturn per unit of total volatility
2.65
2.24

+0.41

Sortino ratioReturn per unit of downside risk
3.92
4.77

-0.85

Omega ratioGain probability vs. loss probability

1.61

1.73

-0.12

Calmar ratioReturn relative to maximum drawdown

2.42

3.62

-1.19

Martin ratioReturn relative to average drawdown

11.05

12.32

-1.26

TFLR vs. FFRCX - Sharpe Ratio Comparison

The current TFLR Sharpe Ratio is 2.65, which is comparable to the FFRCX Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of TFLR and FFRCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

TFLR vs. FFRCX - Drawdown Comparison

The maximum TFLR drawdown since its inception was -4.01%, smaller than the maximum FFRCX drawdown of -22.31%. Use the drawdown chart below to compare losses from any high point for TFLR and FFRCX.

Loading charts...

Drawdown Indicators

TFLRFFRCXDifference

Max Drawdown

Largest peak-to-trough decline

-4.01%

-22.31%

+18.30%

Max Drawdown (1Y)

Largest decline over 1 year

-2.18%

-1.33%

-0.85%

Max Drawdown (3Y)

Largest decline over 3 years

-4.01%

-3.37%

-0.64%

Max Drawdown (5Y)

Largest decline over 5 years

—

-6.30%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-22.31%

—

Current Drawdown

Current decline from peak

-0.20%

-0.44%

+0.24%

Average Drawdown

Average peak-to-trough decline

-0.22%

-1.12%

+0.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.48%

0.39%

+0.09%

Volatility

TFLR vs. FFRCX - Volatility Comparison

The current volatility for T. Rowe Price Floating Rate ETF (TFLR) is 0.40%, while Fidelity Advisor Floating Rate High Income Fund Class C (FFRCX) has a volatility of 0.56%. This indicates that TFLR experiences smaller price fluctuations and is considered to be less risky than FFRCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

TFLRFFRCXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.40%

0.56%

-0.16%

Volatility (6M)

Calculated over the trailing 6-month period

1.74%

1.52%

+0.22%

Volatility (1Y)

Calculated over the trailing 1-year period

1.99%

2.15%

-0.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.65%

2.70%

+0.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.65%

4.02%

-0.37%

TFLR vs. FFRCX - Expense Ratio Comparison

TFLR has a 0.60% expense ratio, which is lower than FFRCX's 1.73% expense ratio.

Dividends

TFLR vs. FFRCX - Dividend Comparison

TFLR's dividend yield for the trailing twelve months is around 6.77%, more than FFRCX's 6.05% yield.

PositionTTM20252024202320222021202020192018201720162015
FFRCX
Fidelity Advisor Floating Rate High Income Fund Class C		6.05%6.37%6.09%6.56%2.98%1.86%2.83%4.11%3.64%3.02%3.35%2.70%
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 FFRCX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FFRCX has higher volatility (0.56%) compared to TFLR (0.40%). In terms of maximum drawdown, TFLR dropped -4.01% vs FFRCX's -22.31%.

TFLR currently has the higher Sharpe Ratio (2.65 vs 2.24), 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.

Portfolio Optimizer

Find the right allocation for TFLR and FFRCX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer