PRCPX vs. LSYAX

Last updated Jun 4, 2026

PRCPX (T. Rowe Price Credit Opportunities Fund) and LSYAX (Lord Abbett Short Duration High Yield Fund) are both High Yield Bonds funds - PRCPX tracks the Bloomberg US High-Yield 2% Issuer Capped Bond Index while LSYAX tracks the ICE BofA HY U.S. Corp, Cash Pay, BB-B 1-5 YR USD Index. Both are passively managed. Over the past 5 years, PRCPX returned 5.68%/yr vs 4.57%/yr for LSYAX. Their correlation of 0.83 suggests significant overlap in exposure. PRCPX charges 0.81%/yr vs 0.65%/yr for LSYAX.

Performance

PRCPX vs. LSYAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Credit Opportunities Fund (PRCPX) and Lord Abbett Short Duration High Yield Fund (LSYAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRCPX achieves a 1.79% return, which is significantly lower than LSYAX's 2.47% return.

PRCPX

• 1D: 0.00%
• 1M: 0.20%
• YTD: 1.79%
• 6M: 3.27%
• 1Y: 9.95%
• 3Y*: 10.75%
• 5Y*: 5.68%
• 10Y*: 6.56%

LSYAX

• 1D: 0.10%
• 1M: 0.75%
• YTD: 2.47%
• 6M: 2.80%
• 1Y: 8.60%
• 3Y*: 8.68%
• 5Y*: 4.57%
• 10Y*: —

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

PRCPX vs. LSYAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PRCPX T. Rowe Price Credit Opportunities Fund	1.79%	11.51%	9.36%	14.90%	-10.50%	6.36%	16.62%
LSYAX Lord Abbett Short Duration High Yield Fund	2.47%	7.50%	8.46%	10.60%	-7.21%	4.50%	14.22%

Correlation

The correlation between PRCPX and LSYAX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Apr 24, 2020	0.83

The correlation between PRCPX and LSYAX shifts across timeframes, from 0.67 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PRCPX vs. LSYAX — Risk / Return Rank

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

PRCPX

PRCPX Risk / Return Rank: 95
PRCPX Sharpe Ratio Rank: 92
PRCPX Sortino Ratio Rank: 97
PRCPX Omega Ratio Rank: 95
PRCPX Calmar Ratio Rank: 92
PRCPX Martin Ratio Rank: 96

LSYAX

LSYAX Risk / Return Rank: 80
LSYAX Sharpe Ratio Rank: 73
LSYAX Sortino Ratio Rank: 93
LSYAX Omega Ratio Rank: 88
LSYAX Calmar Ratio Rank: 63
LSYAX Martin Ratio Rank: 80

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.

PRCPX vs. LSYAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Credit Opportunities Fund (PRCPX) and Lord Abbett Short Duration High Yield Fund (LSYAX). 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	LSYAX	Difference
Sharpe ratio: Return per unit of total volatility	3.08	2.48	+0.60
Sortino ratio: Return per unit of downside risk	5.81	4.72	+1.09
Omega ratio: Gain probability vs. loss probability	1.78	1.62	+0.16
Calmar ratio: Return relative to maximum drawdown	5.10	3.08	+2.01
Martin ratio: Return relative to average drawdown	24.42	15.02	+9.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRCPX vs. LSYAX - Sharpe Ratio Comparison

The current PRCPX Sharpe Ratio is 3.08, which is comparable to the LSYAX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of PRCPX and LSYAX, 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

	PRCPX	LSYAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.08	2.48	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.19	1.07	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	1.54	-0.66

Drawdowns

PRCPX vs. LSYAX - Drawdown Comparison

The maximum PRCPX drawdown since its inception was -23.07%, which is greater than LSYAX's maximum drawdown of -10.79%. Use the drawdown chart below to compare losses from any high point for PRCPX and LSYAX.

Drawdown Indicators

	PRCPX	LSYAX	Difference
Max Drawdown Largest peak-to-trough decline	-23.07%	-10.79%	-12.28%
Max Drawdown (1Y) Largest decline over 1 year	-1.99%	-2.84%	+0.85%
Max Drawdown (3Y) Largest decline over 3 years	-3.83%	-5.30%	+1.47%
Max Drawdown (5Y) Largest decline over 5 years	-14.34%	-10.79%	-3.55%
Max Drawdown (10Y) Largest decline over 10 years	-23.07%	—	—
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-3.12%	-1.86%	-1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.41%	0.58%	-0.17%

Volatility

PRCPX vs. LSYAX - Volatility Comparison

The current volatility for T. Rowe Price Credit Opportunities Fund (PRCPX) is 0.90%, while Lord Abbett Short Duration High Yield Fund (LSYAX) has a volatility of 0.98%. This indicates that PRCPX experiences smaller price fluctuations and is considered to be less risky than LSYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRCPX	LSYAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	0.98%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.39%	2.82%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	3.29%	3.53%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.81%	4.29%	+0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.45%	4.20%	+1.25%

PRCPX vs. LSYAX - Expense Ratio Comparison

PRCPX has a 0.81% expense ratio, which is higher than LSYAX's 0.65% expense ratio.

Dividends

PRCPX vs. LSYAX - Dividend Comparison

PRCPX's dividend yield for the trailing twelve months is around 9.27%, more than LSYAX's 7.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSYAX Lord Abbett Short Duration High Yield Fund	7.85%	7.91%	8.01%	6.38%	4.86%	5.77%	4.64%	0.00%	0.00%	0.00%	0.00%	0.00%
PRCPX T. Rowe Price Credit Opportunities Fund	9.27%	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

Can I hold both PRCPX and LSYAX in my portfolio?

PRCPX and LSYAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRCPX or LSYAX?

LSYAX has higher volatility (0.98%) compared to PRCPX (0.90%). In terms of maximum drawdown, PRCPX dropped -23.07% vs LSYAX's -10.79%.

Which has better risk-adjusted returns?

PRCPX currently has the higher Sharpe Ratio (3.08 vs 2.48), 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.