MSYIX vs. PRCPX

Last updated Apr 1, 2026

Compare and contrast key facts about Morgan Stanley Institutional Fund Trust High Yield Portfolio (MSYIX) and T. Rowe Price Credit Opportunities Fund (PRCPX).

MSYIX is managed by Morgan Stanley. It was launched on Feb 7, 2012. 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

MSYIX vs. PRCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Institutional Fund Trust High Yield Portfolio (MSYIX) and T. Rowe Price Credit Opportunities Fund (PRCPX). The values are adjusted to include any dividend payments, if applicable.

MSYIX vs. PRCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSYIX Morgan Stanley Institutional Fund Trust High Yield Portfolio	0.47%	7.94%	8.78%	13.52%	-11.56%	5.57%	3.26%	13.77%	-2.75%	6.95%
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

MSYIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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%

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

MSYIX vs. PRCPX - Expense Ratio Comparison

MSYIX has a 0.65% expense ratio, which is lower than PRCPX's 0.81% expense ratio.

PRCPX

T. Rowe Price Credit Opportunities Fund

MSYIX

Morgan Stanley Institutional Fund Trust High Yield Portfolio

Return for Risk

MSYIX vs. PRCPX — Risk / Return Rank

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

PRCPX

PRCPX Risk / Return Rank: 98
PRCPX Sharpe Ratio Rank: 99
PRCPX Sortino Ratio Rank: 98
PRCPX Omega Ratio Rank: 98
PRCPX Calmar Ratio Rank: 98
PRCPX Martin Ratio Rank: 98

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.

MSYIX vs. PRCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund Trust High Yield Portfolio (MSYIX) 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.

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

Sharpe Ratios by Period

	MSYIX	PRCPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.47	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.88	—

Correlation

The correlation between MSYIX and PRCPX is 0.72, 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

MSYIX vs. PRCPX - Dividend Comparison

MSYIX's dividend yield for the trailing twelve months is around 5.84%, less than PRCPX's 12.89% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSYIX Morgan Stanley Institutional Fund Trust High Yield Portfolio	5.84%	7.03%	7.25%	6.71%	6.29%	5.57%	5.90%	6.20%	6.27%	5.75%	6.22%	6.77%
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

Drawdown Indicators

	MSYIX	PRCPX	Difference
Max Drawdown Largest peak-to-trough decline	—	-23.07%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.34%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-23.07%	—
Current Drawdown Current decline from peak	—	-1.74%	—
Average Drawdown Average peak-to-trough decline	—	-3.16%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.65%	—

Volatility

Volatility by Period

	MSYIX	PRCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	4.11%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.79%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.45%	—