- ISIN
- US87283Q8758
- Issuer
- T. Rowe Price
- Inception Date
- Oct 25, 2022
- Region
- North America (U.S.)
- Category
- High Yield Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $819M
Share Price Chart
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Performance
THYF Performance Chart
T. Rowe Price U.S. High Yield ETF (THYF) is up 2.0% since the beginning of the year. THYF is currently trading at $52 per share.
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Returns By Period
T. Rowe Price U.S. High Yield ETF (THYF) has returned 2.00% so far this year and 6.69% over the past 12 months.
T. Rowe Price U.S. High Yield ETF
- 1D
- 0.03%
- 1M
- 0.66%
- YTD
- 2.00%
- 6M
- 2.09%
- 1Y
- 6.69%
- 3Y*
- 8.63%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
THYF Monthly Returns History
Based on dividend-adjusted daily data since Oct 26, 2022, THYF's average daily return is +0.03%, while the average monthly return is +0.68%. At this rate, an investment would double in approximately 8.5 years.
Historically, 73% of months were positive and 27% were negative. The best month was Nov 2023 with a return of +5.4%, while the worst month was Feb 2023 at -2.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 2 months.
On a daily basis, THYF closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +2.6%, while the worst single day was Apr 10, 2025 at -2.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.56% | 0.12% | -1.45% | 1.90% | 0.69% | 0.19% | 2.00% | ||||||
| 2025 | 1.20% | 0.73% | -1.57% | -0.67% | 2.45% | 1.85% | 0.31% | 1.02% | 0.87% | 0.13% | 0.57% | 0.68% | 7.77% |
| 2024 | 0.39% | 0.51% | 1.23% | -0.71% | 1.35% | 0.83% | 1.33% | 1.06% | 1.55% | -0.68% | 1.47% | -0.10% | 8.51% |
| 2023 | 4.00% | -2.47% | 1.69% | 0.69% | -1.56% | 2.51% | 1.41% | 0.07% | -1.70% | -2.26% | 5.35% | 3.42% | 11.32% |
| 2022 | -0.10% | 3.30% | -1.45% | 1.69% |
Benchmark Metrics
T. Rowe Price U.S. High Yield ETF has an annualized alpha of 3.56%, beta of 0.25, and R2 of 0.46 versus S&P 500 Index. Calculated based on daily prices since October 26, 2022.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (33.61%) than losses (30.99%) - typical of diversified or defensive assets.
- Beta of 0.25 may look defensive, but with R2 of 0.46 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.46 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 3.56%
- Beta
- 0.25
- R²
- 0.46
- Upside Capture
- 33.61%
- Downside Capture
- 30.99%
Expense Ratio
THYF has an expense ratio of 0.56%, placing it in the medium range.
Return for Risk
Risk / Return Rank
THYF ranks 59 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price U.S. High Yield ETF (THYF) and compare them to S&P 500 Index.
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.
| THYF | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.37 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.78 | -0.39 |
| Martin ratioReturn relative to average drawdown | 10.90 | 12.44 | -1.54 |
Dividends
Dividend History
T. Rowe Price U.S. High Yield ETF provided a 6.99% dividend yield over the last twelve months, with an annual payout of $3.62 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $3.62 | $3.74 | $3.80 | $4.14 | $0.76 |
Dividend yield | 6.99% | 7.17% | 7.30% | 8.02% | 1.50% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price U.S. High Yield ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.27 | $0.29 | $0.29 | $0.29 | $0.30 | $0.00 | $1.44 | ||||||
| 2025 | $0.31 | $0.32 | $0.29 | $0.33 | $0.33 | $0.32 | $0.32 | $0.32 | $0.31 | $0.31 | $0.30 | $0.30 | $3.74 |
| 2024 | $0.34 | $0.32 | $0.33 | $0.32 | $0.32 | $0.32 | $0.32 | $0.32 | $0.32 | $0.27 | $0.30 | $0.31 | $3.80 |
| 2023 | $0.15 | $0.36 | $0.37 | $0.36 | $0.37 | $0.37 | $0.31 | $0.36 | $0.33 | $0.35 | $0.35 | $0.45 | $4.14 |
| 2022 | $0.29 | $0.47 | $0.76 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price U.S. High Yield ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price U.S. High Yield ETF was 5.24%, occurring on Mar 20, 2023. Recovery took 79 trading sessions.
The current T. Rowe Price U.S. High Yield ETF drawdown is 0.19%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 pullback2023 | -5.24%Mar 2023 | 1mo 15d | 3mo 25d | 5mo 10dFeb 2023 - Jul 2023 |
2025 selloff2025 | -5.07%Apr 2025 | 1mo 6d | 1mo 22d | 2mo 28dMar 2025 - May 2025 |
2023 pullback2023 | -4.20%Oct 2023 | 1mo 25d | 23d | 2mo 18dSep 2023 - Nov 2023 |
Bear market2022 | -3.58%Dec 2022 | 14d | 9d | 23dDec 2022 - Jan 2023 |
2026 pullback2026 | -2.80%Mar 2026 | 1mo 5d | 18d | 1mo 23dFeb 2026 - Apr 2026 |
Drawdown Indicators
| THYF | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.24% | -56.78% | +51.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -9.10% | +6.30% |
Max Drawdown (3Y)Largest decline over 3 years | -5.07% | -18.90% | +13.83% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.19% | -1.80% | +1.61% |
Average DrawdownAverage peak-to-trough decline | -0.81% | -10.71% | +9.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 2.03% | -1.41% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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