PRCPX vs. VWEAX
Compare and contrast key facts about T. Rowe Price Credit Opportunities Fund (PRCPX) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX).
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. VWEAX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
PRCPX vs. VWEAX - Performance Comparison
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PRCPX vs. VWEAX - 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% |
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares | -1.68% | 9.49% | 6.42% | 11.79% | -8.95% | 3.04% | 5.41% | 15.92% | -2.80% | 7.17% |
Returns By Period
In the year-to-date period, PRCPX achieves a -0.13% return, which is significantly higher than VWEAX's -1.68% return. Over the past 10 years, PRCPX has outperformed VWEAX with an annualized return of 6.83%, while VWEAX has yielded a comparatively lower 5.22% 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%
VWEAX
- 1D
- 0.18%
- 1M
- -2.34%
- YTD
- -1.68%
- 6M
- 0.04%
- 1Y
- 5.98%
- 3Y*
- 7.45%
- 5Y*
- 3.91%
- 10Y*
- 5.22%
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PRCPX vs. VWEAX - Expense Ratio Comparison
PRCPX has a 0.81% expense ratio, which is higher than VWEAX's 0.13% expense ratio.
Return for Risk
PRCPX vs. VWEAX — Risk / Return Rank
PRCPX
VWEAX
PRCPX vs. VWEAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Credit Opportunities Fund (PRCPX) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). 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 | VWEAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.47 | 1.92 | +1.55 |
Sortino ratioReturn per unit of downside risk | 5.52 | 2.89 | +2.63 |
Omega ratioGain probability vs. loss probability | 1.93 | 1.47 | +0.46 |
Calmar ratioReturn relative to maximum drawdown | 4.53 | 2.52 | +2.01 |
Martin ratioReturn relative to average drawdown | 21.08 | 10.45 | +10.63 |
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 | VWEAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.47 | 1.92 | +1.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | 0.81 | +0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.26 | 1.00 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 1.22 | -0.34 |
Correlation
The correlation between PRCPX and VWEAX is 0.80, 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. VWEAX - Dividend Comparison
PRCPX's dividend yield for the trailing twelve months is around 12.89%, more than VWEAX's 5.91% 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% |
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares | 5.91% | 6.25% | 6.20% | 5.79% | 5.21% | 3.49% | 4.71% | 5.33% | 6.07% | 5.39% | 5.51% | 6.53% |
Drawdowns
PRCPX vs. VWEAX - Drawdown Comparison
The maximum PRCPX drawdown since its inception was -23.07%, smaller than the maximum VWEAX drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for PRCPX and VWEAX.
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Drawdown Indicators
| PRCPX | VWEAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.07% | -30.05% | +6.98% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -2.52% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -14.34% | -13.77% | -0.57% |
Max Drawdown (10Y)Largest decline over 10 years | -23.07% | -19.68% | -3.39% |
Current DrawdownCurrent decline from peak | -1.74% | -2.34% | +0.60% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -2.13% | -1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.61% | +0.04% |
Volatility
PRCPX vs. VWEAX - Volatility Comparison
The current volatility for T. Rowe Price Credit Opportunities Fund (PRCPX) is 1.10%, while Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) has a volatility of 1.23%. This indicates that PRCPX experiences smaller price fluctuations and is considered to be less risky than VWEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRCPX | VWEAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.23% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 2.25% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 3.43% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 4.86% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.45% | 5.27% | +0.18% |