PRCPX vs. APHFX
Compare and contrast key facts about T. Rowe Price Credit Opportunities Fund (PRCPX) and Artisan High Income Fund Class I (APHFX).
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. APHFX is an actively managed fund by Artisan. It was launched on Oct 3, 2016.
Performance
PRCPX vs. APHFX - Performance Comparison
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PRCPX vs. APHFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 6.68% |
APHFX Artisan High Income Fund Class I | -1.94% | 8.43% | 8.60% | 13.77% | -10.93% | 4.09% | 10.22% | 14.26% | -1.32% | 8.85% |
Returns By Period
In the year-to-date period, PRCPX achieves a -0.13% return, which is significantly higher than APHFX's -1.94% return.
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%
APHFX
- 1D
- 0.11%
- 1M
- -2.09%
- YTD
- -1.94%
- 6M
- -0.84%
- 1Y
- 5.13%
- 3Y*
- 7.78%
- 5Y*
- 3.53%
- 10Y*
- —
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PRCPX vs. APHFX - Expense Ratio Comparison
PRCPX has a 0.81% expense ratio, which is higher than APHFX's 0.71% expense ratio.
Return for Risk
PRCPX vs. APHFX — Risk / Return Rank
PRCPX
APHFX
PRCPX vs. APHFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Credit Opportunities Fund (PRCPX) and Artisan High Income Fund Class I (APHFX). 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.
| PRCPX | APHFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.47 | 1.66 | +1.82 |
Sortino ratioReturn per unit of downside risk | 5.52 | 2.50 | +3.02 |
Omega ratioGain probability vs. loss probability | 1.93 | 1.40 | +0.52 |
Calmar ratioReturn relative to maximum drawdown | 4.53 | 1.86 | +2.67 |
Martin ratioReturn relative to average drawdown | 21.08 | 7.17 | +13.91 |
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
| PRCPX | APHFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.47 | 1.66 | +1.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | 0.73 | +0.50 |
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 | 1.05 | -0.17 |
Correlation
The correlation between PRCPX and APHFX is 0.81, 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
PRCPX vs. APHFX - Dividend Comparison
PRCPX's dividend yield for the trailing twelve months is around 12.89%, more than APHFX's 6.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
APHFX Artisan High Income Fund Class I | 6.62% | 6.96% | 7.39% | 5.56% | 5.83% | 5.50% | 6.01% | 6.44% | 7.25% | 7.96% | 0.00% | 0.00% |
Drawdowns
PRCPX vs. APHFX - Drawdown Comparison
The maximum PRCPX drawdown since its inception was -23.07%, which is greater than APHFX's maximum drawdown of -21.51%. Use the drawdown chart below to compare losses from any high point for PRCPX and APHFX.
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Drawdown Indicators
| PRCPX | APHFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.07% | -21.51% | -1.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -2.76% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -14.34% | -14.80% | +0.46% |
Max Drawdown (10Y)Largest decline over 10 years | -23.07% | — | — |
Current DrawdownCurrent decline from peak | -1.74% | -2.63% | +0.89% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -2.54% | -0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.71% | -0.06% |
Volatility
PRCPX vs. APHFX - Volatility Comparison
T. Rowe Price Credit Opportunities Fund (PRCPX) and Artisan High Income Fund Class I (APHFX) have volatilities of 1.10% and 1.07%, 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.
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Volatility by Period
| PRCPX | APHFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.07% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 2.01% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 3.40% | +0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 4.87% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.45% | 5.33% | +0.12% |