TRAIX vs. SLQD
TRAIX (T. Rowe Price Capital Appreciation Fund - I Class) and SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) are both funds - TRAIX is a Diversified Portfolio fund actively managed by T. Rowe Price, while SLQD is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid Investment Grade 0-5 Index. TRAIX is actively managed, while SLQD is passively managed. Over the past 10 years, TRAIX returned 11.25%/yr vs 2.71%/yr for SLQD. At a 0.20 correlation, their price movements are largely independent. TRAIX charges 0.59%/yr vs 0.06%/yr for SLQD.
Performance
TRAIX vs. SLQD - Performance Comparison
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Returns By Period
In the year-to-date period, TRAIX achieves a 3.78% return, which is significantly higher than SLQD's 1.01% return. Over the past 10 years, TRAIX has outperformed SLQD with an annualized return of 11.25%, while SLQD has yielded a comparatively lower 2.71% annualized return.
TRAIX
- 1D
- 0.60%
- 1M
- -1.15%
- YTD
- 3.78%
- 6M
- 4.18%
- 1Y
- 11.26%
- 3Y*
- 12.69%
- 5Y*
- 8.41%
- 10Y*
- 11.25%
SLQD
- 1D
- -0.02%
- 1M
- 0.26%
- YTD
- 1.01%
- 6M
- 1.39%
- 1Y
- 4.39%
- 3Y*
- 5.51%
- 5Y*
- 2.53%
- 10Y*
- 2.71%
TRAIX vs. SLQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRAIX T. Rowe Price Capital Appreciation Fund - I Class | 3.78% | 12.57% | 12.64% | 19.01% | -11.89% | 18.59% | 18.28% | 24.71% | 0.76% | 15.45% |
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 1.01% | 6.27% | 4.94% | 5.98% | -4.38% | -0.61% | 4.76% | 6.09% | 1.09% | 2.12% |
Correlation
The correlation between TRAIX and SLQD is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.20 |
Over the past year, TRAIX and SLQD have become more correlated (0.42) than their long-term average of 0.20, meaning their price movements have been converging.
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Return for Risk
TRAIX vs. SLQD — Risk / Return Rank
TRAIX
SLQD
TRAIX vs. SLQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Capital Appreciation Fund - I Class (TRAIX) and iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD). 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.
| TRAIX | SLQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.44 | ||
| Sortino ratioReturn per unit of downside risk | -2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.61 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 4.15 | -2.30 |
| Martin ratioReturn relative to average drawdown | 7.83 | 18.78 | -10.95 |
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Drawdowns
TRAIX vs. SLQD - Drawdown Comparison
The maximum TRAIX drawdown since its inception was -26.84%, which is greater than SLQD's maximum drawdown of -12.69%. Use the drawdown chart below to compare losses from any high point for TRAIX and SLQD.
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Drawdown Indicators
| TRAIX | SLQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.84% | -12.69% | -14.15% |
Max Drawdown (1Y)Largest decline over 1 year | -6.30% | -1.06% | -5.24% |
Max Drawdown (3Y)Largest decline over 3 years | -16.02% | -1.06% | -14.96% |
Max Drawdown (5Y)Largest decline over 5 years | -17.00% | -7.63% | -9.37% |
Max Drawdown (10Y)Largest decline over 10 years | -26.84% | -12.69% | -14.15% |
Current DrawdownCurrent decline from peak | -2.37% | -0.02% | -2.35% |
Average DrawdownAverage peak-to-trough decline | -2.82% | -0.87% | -1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.48% | 0.23% | +1.25% |
Volatility
TRAIX vs. SLQD - Volatility Comparison
T. Rowe Price Capital Appreciation Fund - I Class (TRAIX) has a higher volatility of 2.68% compared to iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) at 0.53%. This indicates that TRAIX's price experiences larger fluctuations and is considered to be riskier than SLQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRAIX | SLQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 0.53% | +2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 6.15% | 1.13% | +5.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.67% | 1.49% | +6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.79% | 2.44% | +10.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.76% | 3.14% | +9.62% |
TRAIX vs. SLQD - Expense Ratio Comparison
TRAIX has a 0.59% expense ratio, which is higher than SLQD's 0.06% expense ratio.
Dividends
TRAIX vs. SLQD - Dividend Comparison
TRAIX's dividend yield for the trailing twelve months is around 8.63%, more than SLQD's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 4.31% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
TRAIX T. Rowe Price Capital Appreciation Fund - I Class | 8.63% | 8.96% | 10.52% | 4.28% | 9.70% | 9.35% | 8.08% | 5.92% | 7.57% | 6.96% | 3.59% | 0.00% |
Frequently Asked Questions
TRAIX and SLQD have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRAIX has higher volatility (2.68%) compared to SLQD (0.53%). In terms of maximum drawdown, TRAIX dropped -26.84% vs SLQD's -12.69%.
SLQD currently has the higher Sharpe Ratio (2.96 vs 1.51), 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.
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