TMED vs. TFLR

Last updated Jun 24, 2026

TMED (T. Rowe Price Health Care ETF) and TFLR (T. Rowe Price Floating Rate ETF) are both exchange-traded funds - TMED is a Health & Biotech Equities fund managed by T. Rowe Price, while TFLR is a Bank Loan fund actively managed by T. Rowe Price. At a 0.04 correlation, their price movements are largely independent. TMED charges 0.44%/yr vs 0.60%/yr for TFLR.

Performance

TMED vs. TFLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Health Care ETF (TMED) and T. Rowe Price Floating Rate ETF (TFLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TMED

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TFLR

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

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

TMED vs. TFLR - Yearly Performance Comparison

	2026 (YTD)
TMED T. Rowe Price Health Care ETF	-7.14%
TFLR T. Rowe Price Floating Rate ETF	-0.12%

Correlation

The correlation between TMED and TFLR is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026	0.04

Return for Risk

TMED vs. TFLR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TMED

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

TFLR

TFLR Risk / Return Rank: 77
TFLR Sharpe Ratio Rank: 86
TFLR Sortino Ratio Rank: 89
TFLR Omega Ratio Rank: 93
TFLR Calmar Ratio Rank: 51
TFLR Martin Ratio Rank: 64

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.

TMED vs. TFLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Health Care ETF (TMED) and T. Rowe Price Floating Rate ETF (TFLR). 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.

	TMED	TFLR	Difference
Sharpe ratio: Return per unit of total volatility	—	2.65	—
Sortino ratio: Return per unit of downside risk	—	3.92	—
Omega ratio: Gain probability vs. loss probability	—	1.61	—
Calmar ratio: Return relative to maximum drawdown	—	2.42	—
Martin ratio: Return relative to average drawdown	—	11.05	—

Drawdowns

TMED vs. TFLR - Drawdown Comparison

The maximum TMED drawdown since its inception was -7.14%, which is greater than TFLR's maximum drawdown of -4.01%. Use the drawdown chart below to compare losses from any high point for TMED and TFLR.

Drawdown Indicators

	TMED	TFLR	Difference
Max Drawdown Largest peak-to-trough decline	-7.14%	-4.01%	-3.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.18%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.01%	—
Current Drawdown Current decline from peak	-7.14%	-0.20%	-6.94%
Average Drawdown Average peak-to-trough decline	-5.00%	-0.22%	-4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.48%	—

Volatility

Volatility by Period

	TMED	TFLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	66.28%	1.99%	+64.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.28%	3.65%	+62.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.28%	3.65%	+62.63%

TMED vs. TFLR - Expense Ratio Comparison

TMED has a 0.44% expense ratio, which is lower than TFLR's 0.60% expense ratio.

Dividends

TMED vs. TFLR - Dividend Comparison

TMED has not paid dividends to shareholders, while TFLR's dividend yield for the trailing twelve months is around 6.77%.

Position	TTM	2025	2024	2023	2022
TFLR T. Rowe Price Floating Rate ETF	6.77%	6.93%	8.18%	7.76%	0.58%
TMED T. Rowe Price Health Care ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMED and TFLR in my portfolio?

TMED and TFLR have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMED or TFLR?

On fees, TMED is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMED or TFLR?

TMED is cheaper with a 0.44% expense ratio, compared with 0.60% for TFLR.

Which ETF pays a higher dividend yield, TMED or TFLR?

TFLR has the higher dividend yield at 6.77%, compared with 0.00% for TMED.

What is the main difference between TMED and TFLR?

TMED is categorized as Health & Biotech Equities, while TFLR is Bank Loan. Their fees differ too: 0.44% for TMED and 0.60% for TFLR.