XTWO vs. RPIFX
XTWO (BondBloxx Bloomberg Two Year Target Duration US Treasury ETF) and RPIFX (T. Rowe Price Institutional Floating Rate Fund) are both funds - XTWO is a Government Bonds fund tracking the Bloomberg US Treasury 2 Year Target Duration Index, while RPIFX is a Bank Loan fund managed by T. Rowe Price. Over the past 3 years, XTWO returned 4.20%/yr vs 6.47%/yr for RPIFX. Their 0.07 correlation means their historical movements had little consistent relationship. XTWO charges 0.05%/yr vs 0.57%/yr for RPIFX.
Performance
XTWO vs. RPIFX - Performance Comparison
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Returns By Period
In the year-to-date period, XTWO achieves a 0.74% return, which is significantly lower than RPIFX's 0.83% return.
XTWO
- 1D
- 0.05%
- 1M
- 0.07%
- 6M
- 0.62%
- YTD
- 0.74%
- 1Y
- 2.55%
- 3Y*
- 4.20%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.66%
RPIFX
- 1D
- 0.00%
- 1M
- -0.11%
- 6M
- 0.78%
- YTD
- 0.83%
- 1Y
- 3.67%
- 3Y*
- 6.47%
- 5Y*
- 5.11%
- 10Y*
- 4.66%
- ALL TIME*
- 4.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $4.33M | $4.70M | $2.37M |
XTWO vs. RPIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | 0.74% | 5.17% | 3.92% | 4.27% | 0.14% |
RPIFX T. Rowe Price Institutional Floating Rate Fund | 0.83% | 6.71% | 8.47% | 10.13% | 0.47% |
Correlation
The correlation between XTWO and RPIFX is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | 0.07 |
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Return for Risk
XTWO vs. RPIFX — Risk / Return Rank
XTWO
RPIFX
XTWO vs. RPIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) and T. Rowe Price Institutional Floating Rate Fund (RPIFX). 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.
| XTWO | RPIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.51 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 2.49 | +0.33 |
| Martin ratioReturn relative to average drawdown | 9.41 | 8.13 | +1.28 |
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Drawdowns
XTWO vs. RPIFX - Drawdown Comparison
The maximum XTWO drawdown since its inception was -1.73%, smaller than the maximum RPIFX drawdown of -25.10%. Use the drawdown chart below to compare losses from any high point for XTWO and RPIFX.
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Drawdown Indicators
| XTWO | RPIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.73% | -25.10% | +23.37% |
Max Drawdown (1Y)Largest decline over 1 year | -0.91% | -1.44% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -1.18% | -2.28% | +1.10% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.90% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.67% | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.39% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -0.39% | -1.33% | +0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.27% | 0.44% | -0.17% |
Volatility
XTWO vs. RPIFX - Volatility Comparison
BondBloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) has a higher volatility of 0.34% compared to T. Rowe Price Institutional Floating Rate Fund (RPIFX) at 0.31%. This indicates that XTWO's price experiences larger fluctuations and is considered to be riskier than RPIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTWO | RPIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 0.31% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.27% | 1.69% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.46% | 2.25% | -0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.17% | 2.76% | -0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.17% | 3.79% | -1.62% |
XTWO vs. RPIFX - Expense Ratio Comparison
XTWO has a 0.05% expense ratio, which is lower than RPIFX's 0.57% expense ratio.
Dividends
XTWO vs. RPIFX - Dividend Comparison
XTWO's dividend yield for the trailing twelve months is around 3.97%, less than RPIFX's 5.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RPIFX T. Rowe Price Institutional Floating Rate Fund | 5.80% | 7.22% | 7.77% | 6.53% | 4.12% | 3.94% | 4.29% | 5.12% | 5.16% | 4.32% | 4.31% | 4.45% |
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | 3.97% | 4.24% | 4.54% | 4.07% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XTWO and RPIFX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XTWO has higher volatility (0.34%) compared to RPIFX (0.31%). In terms of maximum drawdown, XTWO dropped -1.73% vs RPIFX's -25.10%.
XTWO currently has the higher Sharpe Ratio (1.76 vs 1.60), 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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