PRCIX vs. TAUSX

Last updated Jun 4, 2026

PRCIX (T. Rowe Price New Income Fund) and TAUSX (John Hancock Investment Grade Bond Fund) are both Intermediate Core Bond funds. Over the past 10 years, PRCIX returned 1.62%/yr vs 1.56%/yr for TAUSX. Their correlation of 0.85 suggests significant overlap in exposure. PRCIX charges 0.44%/yr vs 0.74%/yr for TAUSX.

Performance

PRCIX vs. TAUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price New Income Fund (PRCIX) and John Hancock Investment Grade Bond Fund (TAUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRCIX achieves a 0.13% return, which is significantly lower than TAUSX's 0.20% return. Both investments have delivered pretty close results over the past 10 years, with PRCIX having a 1.62% annualized return and TAUSX not far behind at 1.56%.

PRCIX

• 1D: 0.00%
• 1M: 0.49%
• YTD: 0.13%
• 6M: 0.64%
• 1Y: 6.75%
• 3Y*: 4.69%
• 5Y*: 0.25%
• 10Y*: 1.62%

TAUSX

• 1D: 0.11%
• 1M: 0.55%
• YTD: 0.20%
• 6M: 0.12%
• 1Y: 5.49%
• 3Y*: 3.57%
• 5Y*: -0.45%
• 10Y*: 1.56%

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

PRCIX vs. TAUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRCIX T. Rowe Price New Income Fund	0.13%	8.74%	2.50%	5.31%	-14.87%	-0.54%	5.77%	9.28%	-0.62%	4.01%
TAUSX John Hancock Investment Grade Bond Fund	0.20%	7.38%	0.94%	4.76%	-14.69%	-1.49%	9.52%	8.71%	-0.38%	3.88%

Correlation

The correlation between PRCIX and TAUSX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 3, 1992	0.85

The correlation between PRCIX and TAUSX has been stable across timeframes, ranging from 0.85 to 0.95 - a consistent structural relationship.

Return for Risk

PRCIX vs. TAUSX — Risk / Return Rank

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

PRCIX

PRCIX Risk / Return Rank: 34
PRCIX Sharpe Ratio Rank: 34
PRCIX Sortino Ratio Rank: 39
PRCIX Omega Ratio Rank: 34
PRCIX Calmar Ratio Rank: 35
PRCIX Martin Ratio Rank: 29

TAUSX

TAUSX Risk / Return Rank: 21
TAUSX Sharpe Ratio Rank: 22
TAUSX Sortino Ratio Rank: 23
TAUSX Omega Ratio Rank: 21
TAUSX Calmar Ratio Rank: 21
TAUSX Martin Ratio Rank: 19

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.

PRCIX vs. TAUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price New Income Fund (PRCIX) and John Hancock Investment Grade Bond Fund (TAUSX). 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.

	PRCIX	TAUSX	Difference
Sharpe ratio Return per unit of total volatility	1.69	1.35	+0.34
Sortino ratio Return per unit of downside risk	2.61	2.00	+0.61
Omega ratio Gain probability vs. loss probability	1.31	1.24	+0.07
Calmar ratio Return relative to maximum drawdown	2.25	1.71	+0.54
Martin ratio Return relative to average drawdown	6.80	5.10	+1.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRCIX vs. TAUSX - Sharpe Ratio Comparison

The current PRCIX Sharpe Ratio is 1.69, which is comparable to the TAUSX Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of PRCIX and TAUSX, 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

	PRCIX	TAUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	1.35	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	-0.07	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.31	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	1.02	-0.24

Drawdowns

PRCIX vs. TAUSX - Drawdown Comparison

The maximum PRCIX drawdown since its inception was -22.34%, which is greater than TAUSX's maximum drawdown of -19.90%. Use the drawdown chart below to compare losses from any high point for PRCIX and TAUSX.

Drawdown Indicators

	PRCIX	TAUSX	Difference
Max Drawdown Largest peak-to-trough decline	-22.34%	-19.90%	-2.44%
Max Drawdown (1Y) Largest decline over 1 year	-3.02%	-3.23%	+0.21%
Max Drawdown (3Y) Largest decline over 3 years	-6.00%	-7.29%	+1.29%
Max Drawdown (5Y) Largest decline over 5 years	-19.65%	-19.90%	+0.25%
Max Drawdown (10Y) Largest decline over 10 years	-19.65%	-19.90%	+0.25%
Current Drawdown Current decline from peak	-1.42%	-4.40%	+2.98%
Average Drawdown Average peak-to-trough decline	-4.40%	-2.37%	-2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	1.08%	-0.08%

Volatility

PRCIX vs. TAUSX - Volatility Comparison

T. Rowe Price New Income Fund (PRCIX) and John Hancock Investment Grade Bond Fund (TAUSX) have volatilities of 1.48% and 1.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRCIX	TAUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	1.50%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	3.02%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	4.01%	4.09%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.96%	6.06%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	5.00%	-0.05%

PRCIX vs. TAUSX - Expense Ratio Comparison

PRCIX has a 0.44% expense ratio, which is lower than TAUSX's 0.74% expense ratio.

Dividends

PRCIX vs. TAUSX - Dividend Comparison

PRCIX's dividend yield for the trailing twelve months is around 5.95%, more than TAUSX's 4.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRCIX T. Rowe Price New Income Fund	5.95%	5.94%	5.65%	4.37%	1.80%	2.65%	3.33%	2.88%	3.03%	2.66%	2.56%	2.55%
TAUSX John Hancock Investment Grade Bond Fund	4.05%	3.99%	3.40%	2.64%	2.50%	2.25%	4.49%	2.83%	2.83%	2.65%	2.66%	2.88%

Frequently Asked Questions

Can I hold both PRCIX and TAUSX in my portfolio?

PRCIX and TAUSX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRCIX or TAUSX?

TAUSX has higher volatility (1.50%) compared to PRCIX (1.48%). In terms of maximum drawdown, PRCIX dropped -22.34% vs TAUSX's -19.90%.

Which has better risk-adjusted returns?

PRCIX currently has the higher Sharpe Ratio (1.69 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.