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TRBUX vs. PIAMX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Key characteristics


TRBUXPIAMX
YTD Return5.59%10.26%
1Y Return7.09%15.65%
3Y Return (Ann)3.55%4.37%
5Y Return (Ann)2.93%6.39%
Sharpe Ratio4.145.66
Sortino Ratio12.279.37
Omega Ratio5.342.56
Calmar Ratio35.607.93
Martin Ratio73.6267.00
Ulcer Index0.10%0.23%
Daily Std Dev1.71%2.77%
Max Drawdown-4.15%-18.15%
Current Drawdown0.00%0.00%

Correlation

-0.50.00.51.00.2

The correlation between TRBUX and PIAMX is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Performance

TRBUX vs. PIAMX - Performance Comparison

In the year-to-date period, TRBUX achieves a 5.59% return, which is significantly lower than PIAMX's 10.26% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


0.00%1.00%2.00%3.00%4.00%5.00%6.00%JuneJulyAugustSeptemberOctoberNovember
3.26%
6.05%
TRBUX
PIAMX

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TRBUX vs. PIAMX - Expense Ratio Comparison

TRBUX has a 0.31% expense ratio, which is higher than PIAMX's 0.20% expense ratio.


TRBUX
T. Rowe Price Ultra Short-Term Bond Fund
Expense ratio chart for TRBUX: current value at 0.31% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.31%
Expense ratio chart for PIAMX: current value at 0.20% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.20%

Risk-Adjusted Performance

TRBUX vs. PIAMX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) and PIA High Yield (MACS) Fund (PIAMX). 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.


TRBUX
Sharpe ratio
The chart of Sharpe ratio for TRBUX, currently valued at 4.14, compared to the broader market0.002.004.004.14
Sortino ratio
The chart of Sortino ratio for TRBUX, currently valued at 12.27, compared to the broader market0.005.0010.0012.27
Omega ratio
The chart of Omega ratio for TRBUX, currently valued at 5.34, compared to the broader market1.002.003.004.005.34
Calmar ratio
The chart of Calmar ratio for TRBUX, currently valued at 35.60, compared to the broader market0.005.0010.0015.0020.0025.0035.60
Martin ratio
The chart of Martin ratio for TRBUX, currently valued at 73.62, compared to the broader market0.0020.0040.0060.0080.00100.0073.62
PIAMX
Sharpe ratio
The chart of Sharpe ratio for PIAMX, currently valued at 5.66, compared to the broader market0.002.004.005.66
Sortino ratio
The chart of Sortino ratio for PIAMX, currently valued at 9.37, compared to the broader market0.005.0010.009.37
Omega ratio
The chart of Omega ratio for PIAMX, currently valued at 2.56, compared to the broader market1.002.003.004.002.56
Calmar ratio
The chart of Calmar ratio for PIAMX, currently valued at 7.93, compared to the broader market0.005.0010.0015.0020.0025.007.93
Martin ratio
The chart of Martin ratio for PIAMX, currently valued at 67.00, compared to the broader market0.0020.0040.0060.0080.00100.0067.00

TRBUX vs. PIAMX - Sharpe Ratio Comparison

The current TRBUX Sharpe Ratio is 4.14, which is comparable to the PIAMX Sharpe Ratio of 5.66. The chart below compares the historical Sharpe Ratios of TRBUX and PIAMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio3.504.004.505.005.506.00JuneJulyAugustSeptemberOctoberNovember
4.14
5.66
TRBUX
PIAMX

Dividends

TRBUX vs. PIAMX - Dividend Comparison

TRBUX's dividend yield for the trailing twelve months is around 5.02%, less than PIAMX's 8.37% yield.


TTM20232022202120202019201820172016201520142013
TRBUX
T. Rowe Price Ultra Short-Term Bond Fund
5.02%4.02%1.97%1.11%1.83%2.72%2.58%1.88%1.20%0.80%0.42%0.06%
PIAMX
PIA High Yield (MACS) Fund
8.37%8.12%8.72%7.03%6.63%6.74%6.66%0.06%0.00%0.00%0.00%0.00%

Drawdowns

TRBUX vs. PIAMX - Drawdown Comparison

The maximum TRBUX drawdown since its inception was -4.15%, smaller than the maximum PIAMX drawdown of -18.15%. Use the drawdown chart below to compare losses from any high point for TRBUX and PIAMX. For additional features, visit the drawdowns tool.


-1.20%-1.00%-0.80%-0.60%-0.40%-0.20%0.00%JuneJulyAugustSeptemberOctoberNovember00
TRBUX
PIAMX

Volatility

TRBUX vs. PIAMX - Volatility Comparison

The current volatility for T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) is 0.41%, while PIA High Yield (MACS) Fund (PIAMX) has a volatility of 0.64%. This indicates that TRBUX experiences smaller price fluctuations and is considered to be less risky than PIAMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.20%0.40%0.60%0.80%1.00%1.20%JuneJulyAugustSeptemberOctoberNovember
0.41%
0.64%
TRBUX
PIAMX