TURF vs. TFLR

Last updated Jun 25, 2026

TURF (T. Rowe Price Natural Resources ETF) and TFLR (T. Rowe Price Floating Rate ETF) are both exchange-traded funds - TURF is a Natural Resources fund managed by T. Rowe Price, while TFLR is a Bank Loan fund actively managed by T. Rowe Price. Over the past year, TURF returned 25.54% vs 5.12% for TFLR. At a 0.12 correlation, their price movements are largely independent. TURF charges 0.44%/yr vs 0.60%/yr for TFLR.

Performance

TURF vs. TFLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Natural Resources ETF (TURF) and T. Rowe Price Floating Rate ETF (TFLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TURF achieves a 6.67% return, which is significantly higher than TFLR's 1.25% return.

TURF

• 1D: -2.13%
• 1M: -9.62%
• YTD: 6.67%
• 6M: 6.34%
• 1Y: 25.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TFLR

• 1D: -0.02%
• 1M: -0.06%
• YTD: 1.25%
• 6M: 1.33%
• 1Y: 5.12%
• 3Y*: 7.74%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TURF vs. TFLR - Yearly Performance Comparison

	2026 (YTD)	2025
TURF T. Rowe Price Natural Resources ETF	6.67%	17.82%
TFLR T. Rowe Price Floating Rate ETF	1.25%	4.08%

Correlation

The correlation between TURF and TFLR is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.12

Return for Risk

TURF vs. TFLR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TURF

TURF Risk / Return Rank: 49
TURF Sharpe Ratio Rank: 49
TURF Sortino Ratio Rank: 45
TURF Omega Ratio Rank: 46
TURF Calmar Ratio Rank: 45
TURF Martin Ratio Rank: 58

TFLR

TFLR Risk / Return Rank: 78
TFLR Sharpe Ratio Rank: 88
TFLR Sortino Ratio Rank: 91
TFLR Omega Ratio Rank: 93
TFLR Calmar Ratio Rank: 54
TFLR Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TURF vs. TFLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Natural Resources ETF (TURF) 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.

	TURF	TFLR	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.59	-1.11
Sortino ratio: Return per unit of downside risk	1.99	3.83	-1.84
Omega ratio: Gain probability vs. loss probability	1.26	1.59	-0.33
Calmar ratio: Return relative to maximum drawdown	1.97	2.36	-0.39
Martin ratio: Return relative to average drawdown	9.02	10.77	-1.75

TURF vs. TFLR - Sharpe Ratio Comparison

The current TURF Sharpe Ratio is 1.48, which is lower than the TFLR Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of TURF and TFLR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TURF vs. TFLR - Drawdown Comparison

The maximum TURF drawdown since its inception was -13.04%, which is greater than TFLR's maximum drawdown of -4.01%. Use the drawdown chart below to compare losses from any high point for TURF and TFLR.

Drawdown Indicators

	TURF	TFLR	Difference
Max Drawdown Largest peak-to-trough decline	-13.04%	-4.01%	-9.03%
Max Drawdown (1Y) Largest decline over 1 year	-13.04%	-2.18%	-10.86%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.01%	—
Current Drawdown Current decline from peak	-13.04%	-0.22%	-12.82%
Average Drawdown Average peak-to-trough decline	-1.88%	-0.22%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	0.48%	+2.36%

Volatility

TURF vs. TFLR - Volatility Comparison

T. Rowe Price Natural Resources ETF (TURF) has a higher volatility of 6.35% compared to T. Rowe Price Floating Rate ETF (TFLR) at 0.39%. This indicates that TURF's price experiences larger fluctuations and is considered to be riskier than TFLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TURF	TFLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.35%	0.39%	+5.96%
Volatility (6M) Calculated over the trailing 6-month period	14.22%	1.74%	+12.48%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	1.99%	+15.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.20%	3.65%	+13.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.20%	3.65%	+13.55%

TURF vs. TFLR - Expense Ratio Comparison

TURF has a 0.44% expense ratio, which is lower than TFLR's 0.60% expense ratio.

Dividends

TURF vs. TFLR - Dividend Comparison

TURF's dividend yield for the trailing twelve months is around 1.40%, less than TFLR's 6.77% yield.

Position	TTM	2025	2024	2023	2022
TFLR T. Rowe Price Floating Rate ETF	6.77%	6.93%	8.18%	7.76%	0.58%
TURF T. Rowe Price Natural Resources ETF	1.40%	1.49%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TURF and TFLR in my portfolio?

TURF and TFLR have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TURF or TFLR?

TURF has higher volatility (6.35%) compared to TFLR (0.39%). In terms of maximum drawdown, TURF dropped -13.04% vs TFLR's -4.01%.

Which ETF is better, TURF or TFLR?

On 1-year performance, TURF leads with 25.54% vs 5.12% for TFLR. On fees, TURF is cheaper at 0.44% per year. On volatility, TFLR has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TURF or TFLR?

Over the 1-year period, TURF has performed better with a 25.54% return vs 5.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TURF or TFLR?

TURF is cheaper with a 0.44% expense ratio, compared with 0.60% for TFLR.

Which ETF pays a higher dividend yield, TURF or TFLR?

TFLR has the higher dividend yield at 6.77%, compared with 1.40% for TURF.

What is the main difference between TURF and TFLR?

TURF is categorized as Natural Resources, while TFLR is Bank Loan. Their fees differ too: 0.44% for TURF and 0.60% for TFLR.

Which has better risk-adjusted returns?

TFLR currently has the higher Sharpe Ratio (2.59 vs 1.48), 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.