TFLR vs. ICLO
Compare and contrast key facts about T. Rowe Price Floating Rate ETF (TFLR) and Invesco Aaa Clo Floating Rate Note ETF (ICLO).
TFLR and ICLO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TFLR is an actively managed fund by T. Rowe Price. It was launched on Nov 16, 2022. ICLO is an actively managed fund by Invesco. It was launched on Dec 9, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TFLR or ICLO.
Performance
TFLR vs. ICLO - Performance Comparison
Returns By Period
In the year-to-date period, TFLR achieves a 7.89% return, which is significantly higher than ICLO's 6.37% return.
TFLR
7.89%
0.93%
4.07%
10.06%
N/A
N/A
ICLO
6.37%
0.55%
3.30%
7.64%
N/A
N/A
Key characteristics
| TFLR | ICLO | |
|---|---|---|
| Sharpe Ratio | 3.97 | 6.36 |
| Sortino Ratio | 6.28 | 9.88 |
| Omega Ratio | 1.95 | 3.59 |
| Calmar Ratio | 9.63 | 12.54 |
| Martin Ratio | 57.65 | 101.48 |
| Ulcer Index | 0.18% | 0.08% |
| Daily Std Dev | 2.56% | 1.23% |
| Max Drawdown | -1.48% | -0.83% |
| Current Drawdown | 0.00% | 0.00% |
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TFLR vs. ICLO - Expense Ratio Comparison
TFLR has a 0.60% expense ratio, which is higher than ICLO's 0.26% expense ratio.
Correlation
The correlation between TFLR and ICLO is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
TFLR vs. ICLO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate ETF (TFLR) and Invesco Aaa Clo Floating Rate Note ETF (ICLO). 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.
Dividends
TFLR vs. ICLO - Dividend Comparison
TFLR's dividend yield for the trailing twelve months is around 8.21%, more than ICLO's 7.02% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
TFLR T. Rowe Price Floating Rate ETF | 8.21% | 7.76% | 0.58% |
ICLO Invesco Aaa Clo Floating Rate Note ETF | 7.02% | 7.09% | 0.00% |
Drawdowns
TFLR vs. ICLO - Drawdown Comparison
The maximum TFLR drawdown since its inception was -1.48%, which is greater than ICLO's maximum drawdown of -0.83%. Use the drawdown chart below to compare losses from any high point for TFLR and ICLO. For additional features, visit the drawdowns tool.
Volatility
TFLR vs. ICLO - Volatility Comparison
T. Rowe Price Floating Rate ETF (TFLR) has a higher volatility of 0.36% compared to Invesco Aaa Clo Floating Rate Note ETF (ICLO) at 0.23%. This indicates that TFLR's price experiences larger fluctuations and is considered to be riskier than ICLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.