PRCPX vs. AOM
PRCPX (T. Rowe Price Credit Opportunities Fund) and AOM (iShares Core Moderate Allocation ETF) are both funds - PRCPX is a High Yield Bonds fund tracking the Bloomberg US High-Yield 2% Issuer Capped Bond Index, while AOM is a Diversified Portfolio fund tracking the S&P Target Risk Moderate. Both are passively managed. Over the past 10 years, PRCPX returned 6.50%/yr vs 6.31%/yr for AOM. At a 0.47 correlation, their price movements are largely independent. PRCPX charges 0.81%/yr vs 0.25%/yr for AOM.
Performance
PRCPX vs. AOM - Performance Comparison
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Returns By Period
In the year-to-date period, PRCPX achieves a 1.54% return, which is significantly lower than AOM's 4.75% return. Both investments have delivered pretty close results over the past 10 years, with PRCPX having a 6.50% annualized return and AOM not far behind at 6.31%.
PRCPX
- 1D
- 0.25%
- 1M
- 0.33%
- YTD
- 1.54%
- 6M
- 3.01%
- 1Y
- 9.12%
- 3Y*
- 10.51%
- 5Y*
- 5.53%
- 10Y*
- 6.50%
AOM
- 1D
- 0.04%
- 1M
- 0.49%
- YTD
- 4.75%
- 6M
- 5.32%
- 1Y
- 12.80%
- 3Y*
- 10.66%
- 5Y*
- 4.66%
- 10Y*
- 6.31%
PRCPX vs. AOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRCPX T. Rowe Price Credit Opportunities Fund | 1.54% | 11.51% | 9.36% | 14.90% | -10.50% | 6.36% | 5.55% | 13.77% | -1.44% | 6.80% |
AOM iShares Core Moderate Allocation ETF | 4.75% | 13.28% | 7.95% | 12.38% | -14.54% | 6.93% | 10.02% | 15.58% | -3.88% | 11.63% |
Correlation
The correlation between PRCPX and AOM is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since May 1, 2014 | 0.47 |
The correlation between PRCPX and AOM has been stable across timeframes, ranging from 0.47 to 0.54 - a consistent structural relationship.
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Return for Risk
PRCPX vs. AOM — Risk / Return Rank
PRCPX
AOM
PRCPX vs. AOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Credit Opportunities Fund (PRCPX) and iShares Core Moderate Allocation ETF (AOM). 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.
| PRCPX | AOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +2.57 | ||
| Omega ratioGain probability vs. loss probability | 1.70 | 1.35 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 4.68 | 2.52 | +2.16 |
| Martin ratioReturn relative to average drawdown | 22.07 | 10.84 | +11.23 |
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Drawdowns
PRCPX vs. AOM - Drawdown Comparison
The maximum PRCPX drawdown since its inception was -23.07%, which is greater than AOM's maximum drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for PRCPX and AOM.
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Drawdown Indicators
| PRCPX | AOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.07% | -19.96% | -3.11% |
Max Drawdown (1Y)Largest decline over 1 year | -1.99% | -5.11% | +3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -3.83% | -6.85% | +3.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.34% | -19.96% | +5.62% |
Max Drawdown (10Y)Largest decline over 10 years | -23.07% | -19.96% | -3.11% |
Current DrawdownCurrent decline from peak | -0.37% | -0.70% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -3.11% | -2.70% | -0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 1.19% | -0.77% |
Volatility
PRCPX vs. AOM - Volatility Comparison
The current volatility for T. Rowe Price Credit Opportunities Fund (PRCPX) is 0.94%, while iShares Core Moderate Allocation ETF (AOM) has a volatility of 2.82%. This indicates that PRCPX experiences smaller price fluctuations and is considered to be less risky than AOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRCPX | AOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 2.82% | -1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 2.41% | 5.63% | -3.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.31% | 6.90% | -3.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.81% | 8.19% | -3.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.45% | 7.96% | -2.51% |
PRCPX vs. AOM - Expense Ratio Comparison
PRCPX has a 0.81% expense ratio, which is higher than AOM's 0.25% expense ratio.
Dividends
PRCPX vs. AOM - Dividend Comparison
PRCPX's dividend yield for the trailing twelve months is around 9.30%, more than AOM's 2.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOM iShares Core Moderate Allocation ETF | 2.99% | 2.98% | 3.10% | 2.79% | 2.27% | 1.56% | 2.02% | 2.66% | 2.53% | 3.31% | 2.14% | 1.98% |
PRCPX T. Rowe Price Credit Opportunities Fund | 9.30% | 9.32% | 8.77% | 7.88% | 4.89% | 5.11% | 5.36% | 5.18% | 5.72% | 4.95% | 5.88% | 7.58% |
Frequently Asked Questions
PRCPX and AOM have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AOM has higher volatility (2.82%) compared to PRCPX (0.94%). In terms of maximum drawdown, PRCPX dropped -23.07% vs AOM's -19.96%.
PRCPX currently has the higher Sharpe Ratio (2.81 vs 1.87), 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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