TRBFX vs. RPLCX
TRBFX (T. Rowe Price Limited Duration Inflation Focused Bond Fund) and RPLCX (T. Rowe Price Institutional Long Duration Credit Fund) are both mutual funds - TRBFX is a Inflation-Protected Bonds fund managed by T. Rowe Price, while RPLCX is a Long-Term Bond fund managed by T. Rowe Price. Over the past 10 years, TRBFX returned 2.80%/yr vs 2.18%/yr for RPLCX. At a 0.42 correlation, their price movements are largely independent. TRBFX charges 0.41%/yr vs 0.45%/yr for RPLCX.
Performance
TRBFX vs. RPLCX - Performance Comparison
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Returns By Period
In the year-to-date period, TRBFX achieves a 0.91% return, which is significantly higher than RPLCX's 0.77% return. Over the past 10 years, TRBFX has outperformed RPLCX with an annualized return of 2.80%, while RPLCX has yielded a comparatively lower 2.18% annualized return.
TRBFX
- 1D
- -0.21%
- 1M
- -0.32%
- YTD
- 0.91%
- 6M
- 1.13%
- 1Y
- 3.36%
- 3Y*
- 4.74%
- 5Y*
- 2.38%
- 10Y*
- 2.80%
RPLCX
- 1D
- -0.53%
- 1M
- 1.96%
- YTD
- 0.77%
- 6M
- 1.24%
- 1Y
- 6.89%
- 3Y*
- 3.73%
- 5Y*
- -2.74%
- 10Y*
- 2.18%
TRBFX vs. RPLCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRBFX T. Rowe Price Limited Duration Inflation Focused Bond Fund | 0.91% | 6.34% | 4.60% | 3.01% | -5.19% | 5.77% | 5.65% | 6.53% | 0.28% | 0.80% |
RPLCX T. Rowe Price Institutional Long Duration Credit Fund | 0.77% | 7.65% | -1.84% | 9.05% | -27.00% | -0.19% | 16.73% | 23.72% | -6.27% | 11.03% |
Correlation
The correlation between TRBFX and RPLCX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2015 | 0.42 |
The correlation between TRBFX and RPLCX shifts across timeframes, from 0.26 (1 year) to 0.47 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TRBFX vs. RPLCX — Risk / Return Rank
TRBFX
RPLCX
TRBFX vs. RPLCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Limited Duration Inflation Focused Bond Fund (TRBFX) and T. Rowe Price Institutional Long Duration Credit Fund (RPLCX). 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.
| TRBFX | RPLCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.17 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 1.39 | -0.39 |
| Martin ratioReturn relative to average drawdown | 1.96 | 3.78 | -1.82 |
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Drawdowns
TRBFX vs. RPLCX - Drawdown Comparison
The maximum TRBFX drawdown since its inception was -7.33%, smaller than the maximum RPLCX drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for TRBFX and RPLCX.
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Drawdown Indicators
| TRBFX | RPLCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.33% | -35.21% | +27.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -5.19% | +1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -3.51% | -13.32% | +9.81% |
Max Drawdown (5Y)Largest decline over 5 years | -7.33% | -35.21% | +27.88% |
Max Drawdown (10Y)Largest decline over 10 years | -7.33% | -35.21% | +27.88% |
Current DrawdownCurrent decline from peak | -2.19% | -16.87% | +14.68% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -10.15% | +8.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 1.90% | -0.15% |
Volatility
TRBFX vs. RPLCX - Volatility Comparison
The current volatility for T. Rowe Price Limited Duration Inflation Focused Bond Fund (TRBFX) is 1.01%, while T. Rowe Price Institutional Long Duration Credit Fund (RPLCX) has a volatility of 2.14%. This indicates that TRBFX experiences smaller price fluctuations and is considered to be less risky than RPLCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRBFX | RPLCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 2.14% | -1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 5.71% | -3.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.12% | 7.76% | -2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.15% | 11.63% | -6.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.02% | 10.60% | -6.58% |
TRBFX vs. RPLCX - Expense Ratio Comparison
TRBFX has a 0.41% expense ratio, which is lower than RPLCX's 0.45% expense ratio.
Dividends
TRBFX vs. RPLCX - Dividend Comparison
TRBFX's dividend yield for the trailing twelve months is around 4.83%, less than RPLCX's 5.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RPLCX T. Rowe Price Institutional Long Duration Credit Fund | 5.36% | 5.32% | 5.17% | 4.15% | 3.54% | 6.09% | 7.16% | 13.58% | 4.33% | 4.07% | 3.79% | 4.70% |
TRBFX T. Rowe Price Limited Duration Inflation Focused Bond Fund | 4.83% | 4.95% | 4.48% | 3.64% | 6.11% | 4.99% | 1.38% | 3.27% | 2.34% | 1.61% | 1.10% | 0.00% |
Frequently Asked Questions
TRBFX and RPLCX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RPLCX has higher volatility (2.14%) compared to TRBFX (1.01%). In terms of maximum drawdown, TRBFX dropped -7.33% vs RPLCX's -35.21%.
RPLCX currently has the higher Sharpe Ratio (0.93 vs 0.68), 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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