CGHY vs. PRHIX

Last updated Jun 23, 2026

CGHY (Capital Group High Yield Bond ETF) and PRHIX (T. Rowe Price High Yield Fund Class I) are both High Yield Bonds funds. A 0.66 correlation means they provide meaningful diversification when combined. CGHY charges 0.39%/yr vs 0.62%/yr for PRHIX.

Performance

CGHY vs. PRHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group High Yield Bond ETF (CGHY) and T. Rowe Price High Yield Fund Class I (PRHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CGHY achieves a 2.15% return, which is significantly higher than PRHIX's 1.42% return.

CGHY

• 1D: -0.08%
• 1M: 0.68%
• YTD: 2.15%
• 6M: 2.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PRHIX

• 1D: 0.00%
• 1M: 0.57%
• YTD: 1.42%
• 6M: 2.29%
• 1Y: 6.65%
• 3Y*: 8.06%
• 5Y*: 3.46%
• 10Y*: 5.11%

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

CGHY vs. PRHIX - Yearly Performance Comparison

	2026 (YTD)	2025
CGHY Capital Group High Yield Bond ETF	2.15%	3.83%
PRHIX T. Rowe Price High Yield Fund Class I	1.42%	4.81%

Correlation

The correlation between CGHY and PRHIX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.66

Return for Risk

CGHY vs. PRHIX — Risk / Return Rank

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

CGHY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PRHIX

PRHIX Risk / Return Rank: 77
PRHIX Sharpe Ratio Rank: 60
PRHIX Sortino Ratio Rank: 82
PRHIX Omega Ratio Rank: 81
PRHIX Calmar Ratio Rank: 73
PRHIX Martin Ratio Rank: 88

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.

CGHY vs. PRHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group High Yield Bond ETF (CGHY) and T. Rowe Price High Yield Fund Class I (PRHIX). 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.

	CGHY	PRHIX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.09	—
Sortino ratio: Return per unit of downside risk	—	3.58	—
Omega ratio: Gain probability vs. loss probability	—	1.49	—
Calmar ratio: Return relative to maximum drawdown	—	3.15	—
Martin ratio: Return relative to average drawdown	—	15.80	—

Drawdowns

CGHY vs. PRHIX - Drawdown Comparison

The maximum CGHY drawdown since its inception was -2.38%, smaller than the maximum PRHIX drawdown of -22.09%. Use the drawdown chart below to compare losses from any high point for CGHY and PRHIX.

Drawdown Indicators

	CGHY	PRHIX	Difference
Max Drawdown Largest peak-to-trough decline	-2.38%	-22.09%	+19.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.18%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.09%	—
Current Drawdown Current decline from peak	-0.12%	-0.34%	+0.22%
Average Drawdown Average peak-to-trough decline	-0.31%	-2.49%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.43%	—

Volatility

Volatility by Period

	CGHY	PRHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.33%	3.28%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.33%	5.16%	-1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.33%	5.53%	-2.20%

CGHY vs. PRHIX - Expense Ratio Comparison

CGHY has a 0.39% expense ratio, which is lower than PRHIX's 0.62% expense ratio.

Dividends

CGHY vs. PRHIX - Dividend Comparison

CGHY's dividend yield for the trailing twelve months is around 5.07%, less than PRHIX's 6.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CGHY Capital Group High Yield Bond ETF	5.07%	3.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PRHIX T. Rowe Price High Yield Fund Class I	6.81%	6.78%	6.13%	5.33%	4.77%	5.18%	5.31%	5.59%	6.37%	5.62%	6.15%

Frequently Asked Questions

Can I hold both CGHY and PRHIX in my portfolio?

CGHY and PRHIX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.