TFLR vs. PFLRX
TFLR (T. Rowe Price Floating Rate ETF) and PFLRX (Putnam Floating Rate Income Fund) are both Bank Loan funds. Over the past 3 years, TFLR returned 7.41%/yr vs 4.92%/yr for PFLRX. Their 0.31 correlation means their historical movements had little consistent relationship. TFLR charges 0.60%/yr vs 1.03%/yr for PFLRX.
Performance
TFLR vs. PFLRX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TFLR achieves a 1.99% return, which is significantly higher than PFLRX's 0.42% return.
TFLR
- 1D
- 0.03%
- 1M
- 0.68%
- 6M
- 2.03%
- YTD
- 1.99%
- 1Y
- 4.96%
- 3Y*
- 7.41%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.77%
PFLRX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.48%
- YTD
- 0.42%
- 1Y
- 2.16%
- 3Y*
- 4.92%
- 5Y*
- 4.10%
- 10Y*
- 3.63%
- ALL TIME*
- 3.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $4.35M | $3.87M | $3.99M |
TFLR vs. PFLRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TFLR T. Rowe Price Floating Rate ETF | 1.99% | 6.57% | 8.77% | 12.05% | -0.44% |
PFLRX Putnam Floating Rate Income Fund | 0.42% | 4.74% | 6.34% | 11.01% | 0.78% |
Correlation
The correlation between TFLR and PFLRX is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.29 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2022 | 0.31 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TFLR vs. PFLRX — Risk / Return Rank
TFLR
PFLRX
TFLR vs. PFLRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate ETF (TFLR) and Putnam Floating Rate Income Fund (PFLRX). 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.
| TFLR | PFLRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.29 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 1.26 | +0.96 |
| Martin ratioReturn relative to average drawdown | 10.10 | 3.35 | +6.74 |
Loading charts...
Drawdowns
TFLR vs. PFLRX - Drawdown Comparison
The maximum TFLR drawdown since its inception was -4.01%, smaller than the maximum PFLRX drawdown of -32.89%. Use the drawdown chart below to compare losses from any high point for TFLR and PFLRX.
Loading charts...
Drawdown Indicators
| TFLR | PFLRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.01% | -32.89% | +28.88% |
Max Drawdown (1Y)Largest decline over 1 year | -2.18% | -1.98% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -4.01% | -3.01% | -1.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.74% | — |
Current DrawdownCurrent decline from peak | -0.06% | -0.26% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -1.73% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.74% | -0.26% |
Volatility
TFLR vs. PFLRX - Volatility Comparison
T. Rowe Price Floating Rate ETF (TFLR) has a higher volatility of 0.48% compared to Putnam Floating Rate Income Fund (PFLRX) at 0.30%. This indicates that TFLR's price experiences larger fluctuations and is considered to be riskier than PFLRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TFLR | PFLRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 0.30% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 1.77% | 1.62% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.01% | 2.32% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.61% | 2.84% | +0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.61% | 4.01% | -0.40% |
TFLR vs. PFLRX - Expense Ratio Comparison
TFLR has a 0.60% expense ratio, which is lower than PFLRX's 1.03% expense ratio.
Dividends
TFLR vs. PFLRX - Dividend Comparison
TFLR's dividend yield for the trailing twelve months is around 6.67%, more than PFLRX's 5.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFLRX Putnam Floating Rate Income Fund | 5.69% | 6.69% | 6.25% | 7.27% | 3.48% | 2.63% | 3.10% | 4.56% | 4.54% | 3.69% | 3.71% | 4.45% |
TFLR T. Rowe Price Floating Rate ETF | 6.67% | 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 PFLRX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TFLR has higher volatility (0.48%) compared to PFLRX (0.30%). In terms of maximum drawdown, TFLR dropped -4.01% vs PFLRX's -32.89%.
TFLR currently has the higher Sharpe Ratio (2.40 vs 1.08), 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.
Find the right allocation for TFLR and PFLRX
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