TSDLX vs. FPNIX
Compare and contrast key facts about T. Rowe Price Short Duration Income Fund (TSDLX) and FPA New Income Fund (FPNIX).
TSDLX is managed by T. Rowe Price. It was launched on Dec 7, 2020. FPNIX is managed by FPA. It was launched on Jul 11, 1984.
Performance
TSDLX vs. FPNIX - Performance Comparison
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TSDLX vs. FPNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TSDLX T. Rowe Price Short Duration Income Fund | -0.02% | 10.34% | 6.30% | 6.07% | -5.69% | 0.77% | 0.10% |
FPNIX FPA New Income Fund | -0.16% | 6.71% | 4.58% | 6.78% | -3.10% | 0.84% | 0.14% |
Returns By Period
In the year-to-date period, TSDLX achieves a -0.02% return, which is significantly higher than FPNIX's -0.16% return.
TSDLX
- 1D
- 0.11%
- 1M
- -1.15%
- YTD
- -0.02%
- 6M
- 2.61%
- 1Y
- 8.51%
- 3Y*
- 6.90%
- 5Y*
- 3.29%
- 10Y*
- —
FPNIX
- 1D
- 0.30%
- 1M
- -1.48%
- YTD
- -0.16%
- 6M
- 0.98%
- 1Y
- 4.49%
- 3Y*
- 5.26%
- 5Y*
- 2.98%
- 10Y*
- 2.86%
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TSDLX vs. FPNIX - Expense Ratio Comparison
TSDLX has a 0.40% expense ratio, which is lower than FPNIX's 0.45% expense ratio.
Return for Risk
TSDLX vs. FPNIX — Risk / Return Rank
TSDLX
FPNIX
TSDLX vs. FPNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Short Duration Income Fund (TSDLX) and FPA New Income Fund (FPNIX). 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.
| TSDLX | FPNIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.85 | 1.74 | +2.11 |
Sortino ratioReturn per unit of downside risk | 8.30 | 2.59 | +5.71 |
Omega ratioGain probability vs. loss probability | 2.18 | 1.35 | +0.83 |
Calmar ratioReturn relative to maximum drawdown | 7.19 | 2.49 | +4.70 |
Martin ratioReturn relative to average drawdown | 29.70 | 11.01 | +18.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSDLX | FPNIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.85 | 1.74 | +2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.44 | 1.24 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.45 | 1.02 | +0.43 |
Correlation
The correlation between TSDLX and FPNIX is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
TSDLX vs. FPNIX - Dividend Comparison
TSDLX's dividend yield for the trailing twelve months is around 8.42%, more than FPNIX's 3.81% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSDLX T. Rowe Price Short Duration Income Fund | 8.42% | 8.51% | 5.44% | 4.21% | 1.82% | 1.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FPNIX FPA New Income Fund | 3.81% | 3.36% | 4.39% | 3.37% | 2.13% | 1.24% | 2.17% | 2.63% | 3.10% | 2.84% | 2.31% | 1.87% |
Drawdowns
TSDLX vs. FPNIX - Drawdown Comparison
The maximum TSDLX drawdown since its inception was -7.86%, smaller than the maximum FPNIX drawdown of -22.95%. Use the drawdown chart below to compare losses from any high point for TSDLX and FPNIX.
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Drawdown Indicators
| TSDLX | FPNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.86% | -22.95% | +15.09% |
Max Drawdown (1Y)Largest decline over 1 year | -1.26% | -1.97% | +0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -7.86% | -4.67% | -3.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -4.67% | — |
Current DrawdownCurrent decline from peak | -1.15% | -1.48% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -1.86% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 0.45% | -0.15% |
Volatility
TSDLX vs. FPNIX - Volatility Comparison
The current volatility for T. Rowe Price Short Duration Income Fund (TSDLX) is 0.52%, while FPA New Income Fund (FPNIX) has a volatility of 1.10%. This indicates that TSDLX experiences smaller price fluctuations and is considered to be less risky than FPNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSDLX | FPNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 1.10% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 1.52% | 1.64% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.40% | 2.66% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.30% | 2.41% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.24% | 1.88% | +0.36% |