TNXT vs. TFLR
TNXT (T. Rowe Price Innovation Leaders ETF) and TFLR (T. Rowe Price Floating Rate ETF) are both exchange-traded funds - TNXT is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while TFLR is a Bank Loan fund actively managed by T. Rowe Price. Both are actively managed. Their 0.48 correlation means their historical movements had little consistent relationship. TNXT charges 0.49%/yr vs 0.60%/yr for TFLR.
Performance
TNXT vs. TFLR - Performance Comparison
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Returns By Period
TNXT
- 1D
- 0.05%
- 1M
- -1.91%
- 6M
- 10.67%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.35M | $3.87M | $3.99M | |
| $19.23K | $12.64K | $54.16K |
TNXT vs. TFLR - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
TNXT T. Rowe Price Innovation Leaders ETF | 8.98% |
TFLR T. Rowe Price Floating Rate ETF | 1.66% |
Correlation
The correlation between TNXT and TFLR is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 29, 2026 | 0.48 |
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Return for Risk
TNXT vs. TFLR — Risk / Return Rank
TNXT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TFLR
TNXT vs. TFLR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Innovation Leaders ETF (TNXT) 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.
| TNXT | TFLR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.54 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.22 | — |
| Martin ratioReturn relative to average drawdown | — | 10.10 | — |
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Drawdowns
TNXT vs. TFLR - Drawdown Comparison
The maximum TNXT drawdown since its inception was -13.11%, which is greater than TFLR's maximum drawdown of -4.01%. Use the drawdown chart below to compare losses from any high point for TNXT and TFLR.
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Drawdown Indicators
| TNXT | TFLR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.11% | -4.01% | -9.10% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.18% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.01% | — |
Current DrawdownCurrent decline from peak | -3.31% | -0.06% | -3.25% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -0.21% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.48% | — |
Volatility
TNXT vs. TFLR - Volatility Comparison
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Volatility by Period
| TNXT | TFLR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.48% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.77% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.96% | 2.01% | +18.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.96% | 3.61% | +17.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.96% | 3.61% | +17.35% |
TNXT vs. TFLR - Expense Ratio Comparison
TNXT has a 0.49% expense ratio, which is lower than TFLR's 0.60% expense ratio.
Dividends
TNXT vs. TFLR - Dividend Comparison
TNXT has not paid dividends to shareholders, while TFLR's dividend yield for the trailing twelve months is around 6.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
TFLR T. Rowe Price Floating Rate ETF | 6.67% | 6.93% | 8.18% | 7.76% | 0.58% |
TNXT T. Rowe Price Innovation Leaders ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TNXT and TFLR have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TNXT is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TNXT is cheaper with a 0.49% expense ratio, compared with 0.60% for TFLR.
TFLR has the higher dividend yield at 6.67%, compared with 0.00% for TNXT.
TNXT is categorized as Large Cap Growth Equities, while TFLR is Bank Loan. Their fees differ too: 0.49% for TNXT and 0.60% for TFLR.
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