PHYQX vs. PRHYX
PHYQX (PGIM High Yield Fund Class R6) and PRHYX (T. Rowe Price High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, PHYQX returned 5.52%/yr vs 6.12%/yr for PRHYX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. PHYQX charges 0.38%/yr vs 0.70%/yr for PRHYX.
Performance
PHYQX vs. PRHYX - Performance Comparison
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Returns By Period
In the year-to-date period, PHYQX achieves a 1.16% return, which is significantly higher than PRHYX's 1.10% return. Over the past 10 years, PHYQX has underperformed PRHYX with an annualized return of 5.52%, while PRHYX has yielded a comparatively higher 6.12% annualized return.
PHYQX
- 1D
- 0.21%
- 1M
- -1.04%
- 6M
- 0.57%
- YTD
- 1.16%
- 1Y
- 4.25%
- 3Y*
- 8.09%
- 5Y*
- 3.72%
- 10Y*
- 5.52%
- ALL TIME*
- 5.76%
PRHYX
- 1D
- 0.17%
- 1M
- -0.84%
- 6M
- 0.54%
- YTD
- 1.10%
- 1Y
- 4.59%
- 3Y*
- 10.57%
- 5Y*
- 5.91%
- 10Y*
- 6.12%
- ALL TIME*
- 6.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PHYQX vs. PRHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHYQX PGIM High Yield Fund Class R6 | 1.16% | 9.18% | 8.55% | 12.34% | -12.22% | 5.99% | 5.79% | 16.29% | -1.18% | 7.74% |
PRHYX T. Rowe Price High Yield Fund | 1.10% | 10.44% | 12.07% | 20.05% | -12.48% | 5.22% | 4.99% | 14.69% | -3.30% | 7.40% |
Correlation
The correlation between PHYQX and PRHYX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2011 | 0.78 |
The correlation between PHYQX and PRHYX shifts across timeframes, from 0.59 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PHYQX vs. PRHYX — Risk / Return Rank
PHYQX
PRHYX
PHYQX vs. PRHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM High Yield Fund Class R6 (PHYQX) 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.
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.
| PHYQX | PRHYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.30 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 2.04 | -0.06 |
| Martin ratioReturn relative to average drawdown | 8.30 | 9.07 | -0.76 |
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Drawdowns
PHYQX vs. PRHYX - Drawdown Comparison
The maximum PHYQX drawdown since its inception was -21.12%, smaller than the maximum PRHYX drawdown of -30.79%. Use the drawdown chart below to compare losses from any high point for PHYQX and PRHYX.
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Drawdown Indicators
| PHYQX | PRHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.12% | -30.79% | +9.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.47% | -2.17% | -0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -3.76% | -3.33% | -0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -16.05% | -16.43% | +0.38% |
Max Drawdown (10Y)Largest decline over 10 years | -21.12% | -22.10% | +0.98% |
Current DrawdownCurrent decline from peak | -1.04% | -1.01% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -2.21% | -3.62% | +1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 0.49% | +0.10% |
Volatility
PHYQX vs. PRHYX - Volatility Comparison
PGIM High Yield Fund Class R6 (PHYQX) has a higher volatility of 0.67% compared to T. Rowe Price High Yield Fund (PRHYX) at 0.63%. This indicates that PHYQX'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.
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Volatility by Period
| PHYQX | PRHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 0.63% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 2.50% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.61% | 3.21% | +0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.11% | 5.34% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.45% | 5.57% | -0.12% |
PHYQX vs. PRHYX - Expense Ratio Comparison
PHYQX has a 0.38% expense ratio, which is lower than PRHYX's 0.70% expense ratio.
Dividends
PHYQX vs. PRHYX - Dividend Comparison
PHYQX's dividend yield for the trailing twelve months is around 6.57%, more than PRHYX's 6.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHYQX PGIM High Yield Fund Class R6 | 6.57% | 7.07% | 7.53% | 7.09% | 6.29% | 6.23% | 6.56% | 6.32% | 6.64% | 6.38% | 4.88% | 7.05% |
PRHYX T. Rowe Price High Yield Fund | 6.26% | 8.33% | 11.50% | 11.49% | 4.68% | 5.09% | 5.19% | 5.48% | 6.25% | 5.49% | 6.02% | 6.45% |
Frequently Asked Questions
PHYQX and PRHYX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PHYQX has higher volatility (0.67%) compared to PRHYX (0.63%). In terms of maximum drawdown, PHYQX dropped -21.12% vs PRHYX's -30.79%.
PRHYX currently has the higher Sharpe Ratio (1.39 vs 1.35), 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.
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