PHYZX vs. PRCPX
Compare and contrast key facts about PGIM High Yield Fund Class Z (PHYZX) and T. Rowe Price Credit Opportunities Fund (PRCPX).
PHYZX is an actively managed fund by PGIM. It was launched on Jan 22, 1990. 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
PHYZX vs. PRCPX - Performance Comparison
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PHYZX vs. PRCPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHYZX PGIM High Yield Fund Class Z | -1.41% | 9.04% | 8.37% | 12.23% | -12.31% | 5.83% | 7.73% | 16.14% | -1.25% | 7.79% |
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, PHYZX achieves a -1.41% return, which is significantly lower than PRCPX's -0.13% return. Over the past 10 years, PHYZX has underperformed PRCPX with an annualized return of 6.07%, while PRCPX has yielded a comparatively higher 6.83% annualized return.
PHYZX
- 1D
- 0.00%
- 1M
- -2.47%
- YTD
- -1.41%
- 6M
- -0.20%
- 1Y
- 5.91%
- 3Y*
- 8.28%
- 5Y*
- 3.71%
- 10Y*
- 6.07%
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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PHYZX vs. PRCPX - Expense Ratio Comparison
PHYZX has a 0.51% expense ratio, which is lower than PRCPX's 0.81% expense ratio.
Return for Risk
PHYZX vs. PRCPX — Risk / Return Rank
PHYZX
PRCPX
PHYZX vs. PRCPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM High Yield Fund Class Z (PHYZX) 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.
| PHYZX | PRCPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.71 | 3.47 | -1.76 |
Sortino ratioReturn per unit of downside risk | 2.54 | 5.52 | -2.98 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.93 | -0.52 |
Calmar ratioReturn relative to maximum drawdown | 2.08 | 4.53 | -2.45 |
Martin ratioReturn relative to average drawdown | 8.46 | 21.08 | -12.62 |
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
| PHYZX | PRCPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 3.47 | -1.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 1.23 | -0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.10 | 1.26 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.19 | 0.88 | +0.31 |
Correlation
The correlation between PHYZX and PRCPX is 0.79, 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
PHYZX vs. PRCPX - Dividend Comparison
PHYZX's dividend yield for the trailing twelve months is around 6.51%, less than PRCPX's 12.89% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHYZX PGIM High Yield Fund Class Z | 6.51% | 6.95% | 7.37% | 7.00% | 6.15% | 6.08% | 8.35% | 6.21% | 6.55% | 6.25% | 6.36% | 6.93% |
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
PHYZX vs. PRCPX - Drawdown Comparison
The maximum PHYZX drawdown since its inception was -28.57%, which is greater than PRCPX's maximum drawdown of -23.07%. Use the drawdown chart below to compare losses from any high point for PHYZX and PRCPX.
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Drawdown Indicators
| PHYZX | PRCPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.57% | -23.07% | -5.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -3.03% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -16.09% | -14.34% | -1.75% |
Max Drawdown (10Y)Largest decline over 10 years | -21.09% | -23.07% | +1.98% |
Current DrawdownCurrent decline from peak | -2.47% | -1.74% | -0.73% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -3.16% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 0.65% | +0.07% |
Volatility
PHYZX vs. PRCPX - Volatility Comparison
PGIM High Yield Fund Class Z (PHYZX) has a higher volatility of 1.19% compared to T. Rowe Price Credit Opportunities Fund (PRCPX) at 1.10%. This indicates that PHYZX'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
| PHYZX | PRCPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.10% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | 2.52% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.71% | 4.11% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.04% | 4.79% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 5.45% | +0.07% |