PRCPX vs. PRWAX
Compare and contrast key facts about T. Rowe Price Credit Opportunities Fund (PRCPX) and T. Rowe Price All-Cap Opportunities Fund (PRWAX).
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. PRWAX is managed by T. Rowe Price. It was launched on Sep 30, 1985.
Performance
PRCPX vs. PRWAX - Performance Comparison
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PRCPX vs. PRWAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRCPX T. Rowe Price Credit Opportunities Fund | 0.37% | 14.80% | 7.46% | 14.90% | -10.50% | 6.36% | 5.55% | 13.77% | -1.44% | 6.80% |
PRWAX T. Rowe Price All-Cap Opportunities Fund | -9.59% | 26.78% | 25.24% | 29.02% | -21.37% | 20.63% | 44.73% | 35.08% | 1.26% | 34.51% |
Returns By Period
In the year-to-date period, PRCPX achieves a 0.37% return, which is significantly higher than PRWAX's -9.59% return. Over the past 10 years, PRCPX has underperformed PRWAX with an annualized return of 6.88%, while PRWAX has yielded a comparatively higher 17.31% annualized return.
PRCPX
- 1D
- 0.51%
- 1M
- -1.12%
- YTD
- 0.37%
- 6M
- 3.54%
- 1Y
- 14.12%
- 3Y*
- 10.79%
- 5Y*
- 5.93%
- 10Y*
- 6.88%
PRWAX
- 1D
- 3.16%
- 1M
- -6.00%
- YTD
- -9.59%
- 6M
- -0.70%
- 1Y
- 19.69%
- 3Y*
- 20.03%
- 5Y*
- 10.67%
- 10Y*
- 17.31%
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PRCPX vs. PRWAX - Expense Ratio Comparison
PRCPX has a 0.81% expense ratio, which is higher than PRWAX's 0.76% expense ratio.
Return for Risk
PRCPX vs. PRWAX — Risk / Return Rank
PRCPX
PRWAX
PRCPX vs. PRWAX - 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 All-Cap Opportunities Fund (PRWAX). 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 | PRWAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.49 | 1.03 | +2.46 |
Sortino ratioReturn per unit of downside risk | 5.55 | 1.66 | +3.89 |
Omega ratioGain probability vs. loss probability | 1.93 | 1.24 | +0.69 |
Calmar ratioReturn relative to maximum drawdown | 4.86 | 1.28 | +3.58 |
Martin ratioReturn relative to average drawdown | 22.46 | 4.75 | +17.71 |
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 | PRWAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.49 | 1.03 | +2.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | 0.60 | +0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.27 | 0.92 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.60 | +0.29 |
Correlation
The correlation between PRCPX and PRWAX is 0.40, 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. PRWAX - Dividend Comparison
PRCPX's dividend yield for the trailing twelve months is around 12.83%, less than PRWAX's 18.43% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRCPX T. Rowe Price Credit Opportunities Fund | 12.83% | 12.19% | 7.03% | 7.88% | 4.89% | 5.11% | 5.36% | 5.18% | 5.72% | 4.95% | 5.88% | 7.58% |
PRWAX T. Rowe Price All-Cap Opportunities Fund | 18.43% | 16.66% | 9.22% | 5.10% | 3.11% | 20.51% | 15.44% | 7.01% | 12.58% | 12.30% | 6.19% | 8.84% |
Drawdowns
PRCPX vs. PRWAX - Drawdown Comparison
The maximum PRCPX drawdown since its inception was -23.07%, smaller than the maximum PRWAX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for PRCPX and PRWAX.
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Drawdown Indicators
| PRCPX | PRWAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.07% | -55.06% | +31.99% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -14.05% | +11.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.34% | -29.38% | +15.04% |
Max Drawdown (10Y)Largest decline over 10 years | -23.07% | -30.50% | +7.43% |
Current DrawdownCurrent decline from peak | -1.24% | -11.33% | +10.09% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -9.92% | +6.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 3.79% | -3.13% |
Volatility
PRCPX vs. PRWAX - Volatility Comparison
The current volatility for T. Rowe Price Credit Opportunities Fund (PRCPX) is 1.24%, while T. Rowe Price All-Cap Opportunities Fund (PRWAX) has a volatility of 6.07%. This indicates that PRCPX experiences smaller price fluctuations and is considered to be less risky than PRWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRCPX | PRWAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 6.07% | -4.83% |
Volatility (6M)Calculated over the trailing 6-month period | 2.48% | 12.83% | -10.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.12% | 19.62% | -15.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 17.93% | -13.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.45% | 18.84% | -13.39% |