BHYIX vs. PRCPX
Compare and contrast key facts about BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) and T. Rowe Price Credit Opportunities Fund (PRCPX).
BHYIX is managed by BlackRock. It was launched on Nov 19, 1998. PRCPX is a passively managed fund by T. Rowe Price that tracks the performance of the Bloomberg US High-Yield 2% Issuer Capped Bond Index. It was launched on Apr 29, 2014.
Performance
BHYIX vs. PRCPX - Performance Comparison
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BHYIX vs. PRCPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BHYIX BlackRock High Yield Bond Portfolio Institutional Shares | -1.59% | 9.18% | 8.55% | 13.19% | -11.24% | 5.53% | 5.87% | 15.35% | -2.81% | 8.23% |
PRCPX T. Rowe Price Credit Opportunities Fund | -0.13% | 14.80% | 7.46% | 14.90% | -10.50% | 6.36% | 5.55% | 13.77% | -1.44% | 6.80% |
Returns By Period
In the year-to-date period, BHYIX achieves a -1.59% return, which is significantly lower than PRCPX's -0.13% return. Over the past 10 years, BHYIX has underperformed PRCPX with an annualized return of 5.93%, while PRCPX has yielded a comparatively higher 6.83% annualized return.
BHYIX
- 1D
- 0.14%
- 1M
- -2.23%
- YTD
- -1.59%
- 6M
- 0.03%
- 1Y
- 6.58%
- 3Y*
- 8.30%
- 5Y*
- 4.15%
- 10Y*
- 5.93%
PRCPX
- 1D
- 0.13%
- 1M
- -1.62%
- YTD
- -0.13%
- 6M
- 3.02%
- 1Y
- 13.68%
- 3Y*
- 10.60%
- 5Y*
- 5.87%
- 10Y*
- 6.83%
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BHYIX vs. PRCPX - Expense Ratio Comparison
BHYIX has a 0.59% expense ratio, which is lower than PRCPX's 0.81% expense ratio.
Return for Risk
BHYIX vs. PRCPX — Risk / Return Rank
BHYIX
PRCPX
BHYIX vs. PRCPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) and T. Rowe Price Credit Opportunities Fund (PRCPX). 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.
| BHYIX | PRCPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.88 | 3.47 | -1.59 |
Sortino ratioReturn per unit of downside risk | 2.67 | 5.52 | -2.84 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.93 | -0.50 |
Calmar ratioReturn relative to maximum drawdown | 2.06 | 4.53 | -2.47 |
Martin ratioReturn relative to average drawdown | 9.42 | 21.08 | -11.66 |
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
| BHYIX | PRCPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 3.47 | -1.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 1.23 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.00 | 1.26 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.20 | 0.88 | +0.32 |
Correlation
The correlation between BHYIX and PRCPX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BHYIX vs. PRCPX - Dividend Comparison
BHYIX's dividend yield for the trailing twelve months is around 6.65%, less than PRCPX's 12.89% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHYIX BlackRock High Yield Bond Portfolio Institutional Shares | 6.65% | 7.05% | 7.46% | 6.15% | 4.91% | 4.73% | 5.12% | 5.70% | 6.33% | 5.82% | 5.96% | 6.33% |
PRCPX T. Rowe Price Credit Opportunities Fund | 12.89% | 12.19% | 7.03% | 7.88% | 4.89% | 5.11% | 5.36% | 5.18% | 5.72% | 4.95% | 5.88% | 7.58% |
Drawdowns
BHYIX vs. PRCPX - Drawdown Comparison
The maximum BHYIX drawdown since its inception was -34.82%, which is greater than PRCPX's maximum drawdown of -23.07%. Use the drawdown chart below to compare losses from any high point for BHYIX and PRCPX.
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Drawdown Indicators
| BHYIX | PRCPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.82% | -23.07% | -11.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -3.03% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -15.45% | -14.34% | -1.11% |
Max Drawdown (10Y)Largest decline over 10 years | -23.23% | -23.07% | -0.16% |
Current DrawdownCurrent decline from peak | -2.27% | -1.74% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -2.77% | -3.16% | +0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 0.65% | +0.06% |
Volatility
BHYIX vs. PRCPX - Volatility Comparison
BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) has a higher volatility of 1.20% compared to T. Rowe Price Credit Opportunities Fund (PRCPX) at 1.10%. This indicates that BHYIX's price experiences larger fluctuations and is considered to be riskier than PRCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BHYIX | PRCPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.10% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.27% | 2.52% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 4.11% | -0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 4.79% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.92% | 5.45% | +0.47% |