CIF vs. PRHYX

Last updated Jun 4, 2026

CIF (MFS Intermediate High Income Fund) and PRHYX (T. Rowe Price High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, CIF returned 5.56%/yr vs 5.74%/yr for PRHYX. At a 0.22 correlation, their price movements are largely independent. CIF charges 1.50%/yr vs 0.70%/yr for PRHYX.

Performance

CIF vs. PRHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Intermediate High Income Fund (CIF) and T. Rowe Price High Yield Fund (PRHYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CIF achieves a -0.48% return, which is significantly lower than PRHYX's 1.73% return. Both investments have delivered pretty close results over the past 10 years, with CIF having a 5.56% annualized return and PRHYX not far ahead at 5.74%.

CIF

• 1D: 0.00%
• 1M: 0.63%
• YTD: -0.48%
• 6M: -1.95%
• 1Y: 5.11%
• 3Y*: 10.45%
• 5Y*: -2.53%
• 10Y*: 5.56%

PRHYX

• 1D: 0.00%
• 1M: 0.40%
• YTD: 1.73%
• 6M: 3.30%
• 1Y: 9.66%
• 3Y*: 10.17%
• 5Y*: 4.87%
• 10Y*: 5.74%

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

CIF vs. PRHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CIF MFS Intermediate High Income Fund	-0.48%	8.97%	11.42%	11.85%	-32.24%	17.80%	0.27%	43.26%	-19.93%	25.66%
PRHYX T. Rowe Price High Yield Fund	1.73%	11.22%	8.49%	14.83%	-12.48%	5.22%	4.99%	14.69%	-3.30%	7.40%

Correlation

The correlation between CIF and PRHYX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Oct 6, 1988	0.22

The correlation between CIF and PRHYX shifts across timeframes, from 0.22 (all time) to 0.45 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CIF vs. PRHYX — Risk / Return Rank

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

CIF

CIF Risk / Return Rank: 7
CIF Sharpe Ratio Rank: 6
CIF Sortino Ratio Rank: 6
CIF Omega Ratio Rank: 6
CIF Calmar Ratio Rank: 7
CIF Martin Ratio Rank: 7

PRHYX

PRHYX Risk / Return Rank: 93
PRHYX Sharpe Ratio Rank: 89
PRHYX Sortino Ratio Rank: 96
PRHYX Omega Ratio Rank: 94
PRHYX Calmar Ratio Rank: 90
PRHYX Martin Ratio Rank: 95

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.

CIF vs. PRHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Intermediate High Income Fund (CIF) and T. Rowe Price High Yield Fund (PRHYX). 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.

	CIF	PRHYX	Difference
Sharpe ratio Return per unit of total volatility	0.50	2.95	-2.45
Sortino ratio Return per unit of downside risk	0.81	5.18	-4.36
Omega ratio Gain probability vs. loss probability	1.10	1.73	-0.63
Calmar ratio Return relative to maximum drawdown	0.65	4.55	-3.90
Martin ratio Return relative to average drawdown	1.84	22.39	-20.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CIF vs. PRHYX - Sharpe Ratio Comparison

The current CIF Sharpe Ratio is 0.50, which is lower than the PRHYX Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of CIF and PRHYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CIF	PRHYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	2.95	-2.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	0.94	-1.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	1.04	-0.75
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	1.31	-1.16

Drawdowns

CIF vs. PRHYX - Drawdown Comparison

The maximum CIF drawdown since its inception was -69.23%, which is greater than PRHYX's maximum drawdown of -30.79%. Use the drawdown chart below to compare losses from any high point for CIF and PRHYX.

Drawdown Indicators

	CIF	PRHYX	Difference
Max Drawdown Largest peak-to-trough decline	-69.23%	-30.79%	-38.44%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-2.17%	-5.72%
Max Drawdown (3Y) Largest decline over 3 years	-10.73%	-3.85%	-6.88%
Max Drawdown (5Y) Largest decline over 5 years	-44.92%	-16.43%	-28.49%
Max Drawdown (10Y) Largest decline over 10 years	-45.24%	-22.10%	-23.14%
Current Drawdown Current decline from peak	-21.94%	-0.17%	-21.77%
Average Drawdown Average peak-to-trough decline	-17.82%	-3.67%	-14.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	0.44%	+2.34%

Volatility

CIF vs. PRHYX - Volatility Comparison

MFS Intermediate High Income Fund (CIF) has a higher volatility of 2.58% compared to T. Rowe Price High Yield Fund (PRHYX) at 1.07%. This indicates that CIF's price experiences larger fluctuations and is considered to be riskier than PRHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CIF	PRHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	1.07%	+1.51%
Volatility (6M) Calculated over the trailing 6-month period	7.61%	2.55%	+5.06%
Volatility (1Y) Calculated over the trailing 1-year period	10.21%	3.35%	+6.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.42%	5.23%	+11.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.45%	5.55%	+13.90%

CIF vs. PRHYX - Expense Ratio Comparison

CIF has a 1.50% expense ratio, which is higher than PRHYX's 0.70% expense ratio.

Dividends

CIF vs. PRHYX - Dividend Comparison

CIF's dividend yield for the trailing twelve months is around 10.95%, more than PRHYX's 9.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIF MFS Intermediate High Income Fund	10.95%	10.46%	10.23%	10.02%	11.22%	8.40%	9.01%	8.63%	11.71%	9.16%	9.91%	10.05%
PRHYX T. Rowe Price High Yield Fund	9.10%	9.06%	8.27%	7.23%	4.68%	5.09%	5.19%	5.48%	6.25%	5.49%	6.02%	6.45%

Frequently Asked Questions

Can I hold both CIF and PRHYX in my portfolio?

CIF and PRHYX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CIF or PRHYX?

CIF has higher volatility (2.58%) compared to PRHYX (1.07%). In terms of maximum drawdown, CIF dropped -69.23% vs PRHYX's -30.79%.

Which has better risk-adjusted returns?

PRHYX currently has the higher Sharpe Ratio (2.95 vs 0.50), 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.