PRCPX vs. PRNHX
Compare and contrast key facts about T. Rowe Price Credit Opportunities Fund (PRCPX) and T. Rowe Price New Horizons Fund (PRNHX).
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. PRNHX is managed by T. Rowe Price. It was launched on Jun 3, 1960.
Performance
PRCPX vs. PRNHX - Performance Comparison
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PRCPX vs. PRNHX - 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% |
PRNHX T. Rowe Price New Horizons Fund | -5.34% | 3.27% | 8.80% | 21.35% | -36.96% | 9.96% | 58.05% | 56.50% | 3.79% | 31.59% |
Returns By Period
In the year-to-date period, PRCPX achieves a -0.13% return, which is significantly higher than PRNHX's -5.34% return. Over the past 10 years, PRCPX has underperformed PRNHX with an annualized return of 6.83%, while PRNHX has yielded a comparatively higher 12.93% 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%
PRNHX
- 1D
- -1.77%
- 1M
- -10.89%
- YTD
- -5.34%
- 6M
- -3.56%
- 1Y
- 10.01%
- 3Y*
- 6.27%
- 5Y*
- -1.84%
- 10Y*
- 12.93%
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PRCPX vs. PRNHX - Expense Ratio Comparison
PRCPX has a 0.81% expense ratio, which is higher than PRNHX's 0.75% expense ratio.
Return for Risk
PRCPX vs. PRNHX — Risk / Return Rank
PRCPX
PRNHX
PRCPX vs. PRNHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Credit Opportunities Fund (PRCPX) and T. Rowe Price New Horizons Fund (PRNHX). 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 | PRNHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.47 | 0.37 | +3.10 |
Sortino ratioReturn per unit of downside risk | 5.52 | 0.70 | +4.82 |
Omega ratioGain probability vs. loss probability | 1.93 | 1.09 | +0.83 |
Calmar ratioReturn relative to maximum drawdown | 4.53 | 0.46 | +4.07 |
Martin ratioReturn relative to average drawdown | 21.08 | 1.71 | +19.36 |
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 | PRNHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.47 | 0.37 | +3.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | -0.08 | +1.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.26 | 0.57 | +0.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.47 | +0.41 |
Correlation
The correlation between PRCPX and PRNHX is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PRCPX vs. PRNHX - Dividend Comparison
PRCPX's dividend yield for the trailing twelve months is around 12.89%, more than PRNHX's 12.52% 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% |
PRNHX T. Rowe Price New Horizons Fund | 12.52% | 11.85% | 9.82% | 0.00% | 4.72% | 17.09% | 13.67% | 23.46% | 13.94% | 8.27% | 5.77% | 7.72% |
Drawdowns
PRCPX vs. PRNHX - Drawdown Comparison
The maximum PRCPX drawdown since its inception was -23.07%, smaller than the maximum PRNHX drawdown of -70.96%. Use the drawdown chart below to compare losses from any high point for PRCPX and PRNHX.
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Drawdown Indicators
| PRCPX | PRNHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.07% | -70.96% | +47.89% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -13.70% | +10.67% |
Max Drawdown (5Y)Largest decline over 5 years | -14.34% | -48.37% | +34.03% |
Max Drawdown (10Y)Largest decline over 10 years | -23.07% | -48.37% | +25.30% |
Current DrawdownCurrent decline from peak | -1.74% | -27.08% | +25.34% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -18.39% | +15.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 3.67% | -3.02% |
Volatility
PRCPX vs. PRNHX - Volatility Comparison
The current volatility for T. Rowe Price Credit Opportunities Fund (PRCPX) is 1.10%, while T. Rowe Price New Horizons Fund (PRNHX) has a volatility of 7.88%. This indicates that PRCPX experiences smaller price fluctuations and is considered to be less risky than PRNHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRCPX | PRNHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 7.88% | -6.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 14.48% | -11.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 23.87% | -19.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 24.41% | -19.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.45% | 22.67% | -17.22% |