PRCPX vs. FHYSX
Compare and contrast key facts about T. Rowe Price Credit Opportunities Fund (PRCPX) and Federated Hermes High-Yield Strategy Portfolio (FHYSX).
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. FHYSX is managed by Federated. It was launched on Dec 24, 2008.
Performance
PRCPX vs. FHYSX - Performance Comparison
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PRCPX vs. FHYSX - 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% | 6.80% |
FHYSX Federated Hermes High-Yield Strategy Portfolio | -1.76% | 9.14% | 6.42% | 12.77% | -13.16% | 4.49% | 6.08% | 15.14% | -2.16% | 8.34% |
Returns By Period
In the year-to-date period, PRCPX achieves a -0.13% return, which is significantly higher than FHYSX's -1.76% return. Over the past 10 years, PRCPX has outperformed FHYSX with an annualized return of 6.83%, while FHYSX has yielded a comparatively lower 5.39% annualized 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%
FHYSX
- 1D
- 0.17%
- 1M
- -2.27%
- YTD
- -1.76%
- 6M
- 0.01%
- 1Y
- 5.88%
- 3Y*
- 7.48%
- 5Y*
- 3.11%
- 10Y*
- 5.39%
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PRCPX vs. FHYSX - Expense Ratio Comparison
PRCPX has a 0.81% expense ratio, which is higher than FHYSX's 0.02% expense ratio.
Return for Risk
PRCPX vs. FHYSX — Risk / Return Rank
PRCPX
FHYSX
PRCPX vs. FHYSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Credit Opportunities Fund (PRCPX) and Federated Hermes High-Yield Strategy Portfolio (FHYSX). 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 | FHYSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.47 | 1.67 | +1.80 |
Sortino ratioReturn per unit of downside risk | 5.52 | 2.37 | +3.15 |
Omega ratioGain probability vs. loss probability | 1.93 | 1.45 | +0.48 |
Calmar ratioReturn relative to maximum drawdown | 4.53 | 2.36 | +2.17 |
Martin ratioReturn relative to average drawdown | 21.08 | 9.71 | +11.36 |
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 | FHYSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.47 | 1.67 | +1.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | 0.60 | +0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.26 | 0.94 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.85 | +0.02 |
Correlation
The correlation between PRCPX and FHYSX is 0.78, 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. FHYSX - Dividend Comparison
PRCPX's dividend yield for the trailing twelve months is around 12.89%, more than FHYSX's 5.82% 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% |
FHYSX Federated Hermes High-Yield Strategy Portfolio | 5.82% | 6.28% | 5.84% | 5.30% | 5.27% | 4.54% | 5.74% | 6.18% | 6.61% | 6.98% | 6.45% | 8.45% |
Drawdowns
PRCPX vs. FHYSX - Drawdown Comparison
The maximum PRCPX drawdown since its inception was -23.07%, which is greater than FHYSX's maximum drawdown of -21.45%. Use the drawdown chart below to compare losses from any high point for PRCPX and FHYSX.
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Drawdown Indicators
| PRCPX | FHYSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.07% | -21.45% | -1.62% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -2.50% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -14.34% | -16.93% | +2.59% |
Max Drawdown (10Y)Largest decline over 10 years | -23.07% | -21.45% | -1.62% |
Current DrawdownCurrent decline from peak | -1.74% | -2.27% | +0.53% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -2.61% | -0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.61% | +0.04% |
Volatility
PRCPX vs. FHYSX - Volatility Comparison
The current volatility for T. Rowe Price Credit Opportunities Fund (PRCPX) is 1.10%, while Federated Hermes High-Yield Strategy Portfolio (FHYSX) has a volatility of 1.24%. This indicates that PRCPX experiences smaller price fluctuations and is considered to be less risky than FHYSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRCPX | FHYSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.24% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 2.37% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 3.76% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 5.20% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.45% | 5.76% | -0.31% |