PRCPX vs. TIHYX
Compare and contrast key facts about T. Rowe Price Credit Opportunities Fund (PRCPX) and TIAA-CREF High Yield Fund (TIHYX).
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. TIHYX is managed by TIAA Investments. It was launched on Mar 31, 2006.
Performance
PRCPX vs. TIHYX - Performance Comparison
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PRCPX vs. TIHYX - 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% |
TIHYX TIAA-CREF High Yield Fund | -0.62% | 8.43% | 6.75% | 12.42% | -10.72% | 4.81% | 2.63% | 16.67% | -3.10% | 5.69% |
Returns By Period
In the year-to-date period, PRCPX achieves a 0.37% return, which is significantly higher than TIHYX's -0.62% return. Over the past 10 years, PRCPX has outperformed TIHYX with an annualized return of 6.88%, while TIHYX has yielded a comparatively lower 5.34% 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%
TIHYX
- 1D
- 0.69%
- 1M
- -1.46%
- YTD
- -0.62%
- 6M
- 1.12%
- 1Y
- 6.84%
- 3Y*
- 7.71%
- 5Y*
- 3.74%
- 10Y*
- 5.34%
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PRCPX vs. TIHYX - Expense Ratio Comparison
PRCPX has a 0.81% expense ratio, which is higher than TIHYX's 0.36% expense ratio.
Return for Risk
PRCPX vs. TIHYX — Risk / Return Rank
PRCPX
TIHYX
PRCPX vs. TIHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Credit Opportunities Fund (PRCPX) and TIAA-CREF High Yield Fund (TIHYX). 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 | TIHYX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.49 | 1.78 | +1.71 |
Sortino ratioReturn per unit of downside risk | 5.55 | 2.60 | +2.95 |
Omega ratioGain probability vs. loss probability | 1.93 | 1.40 | +0.53 |
Calmar ratioReturn relative to maximum drawdown | 4.86 | 2.20 | +2.66 |
Martin ratioReturn relative to average drawdown | 22.46 | 9.70 | +12.76 |
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 | TIHYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.49 | 1.78 | +1.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | 0.73 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.27 | 0.91 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 1.06 | -0.17 |
Correlation
The correlation between PRCPX and TIHYX is 0.83, 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. TIHYX - Dividend Comparison
PRCPX's dividend yield for the trailing twelve months is around 12.83%, more than TIHYX's 6.09% 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% |
TIHYX TIAA-CREF High Yield Fund | 6.09% | 6.54% | 5.35% | 5.55% | 4.63% | 4.68% | 5.44% | 5.95% | 5.53% | 5.24% | 5.74% | 4.77% |
Drawdowns
PRCPX vs. TIHYX - Drawdown Comparison
The maximum PRCPX drawdown since its inception was -23.07%, smaller than the maximum TIHYX drawdown of -27.52%. Use the drawdown chart below to compare losses from any high point for PRCPX and TIHYX.
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Drawdown Indicators
| PRCPX | TIHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.07% | -27.52% | +4.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -3.21% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -14.34% | -15.35% | +1.01% |
Max Drawdown (10Y)Largest decline over 10 years | -23.07% | -22.82% | -0.25% |
Current DrawdownCurrent decline from peak | -1.24% | -1.57% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -2.59% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.73% | -0.07% |
Volatility
PRCPX vs. TIHYX - Volatility Comparison
The current volatility for T. Rowe Price Credit Opportunities Fund (PRCPX) is 1.24%, while TIAA-CREF High Yield Fund (TIHYX) has a volatility of 1.41%. This indicates that PRCPX experiences smaller price fluctuations and is considered to be less risky than TIHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRCPX | TIHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.41% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.48% | 2.39% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.12% | 3.97% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 5.15% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.45% | 5.89% | -0.44% |