PRCPX vs. XILSX

Last updated Apr 1, 2026

Compare and contrast key facts about T. Rowe Price Credit Opportunities Fund (PRCPX) and Pioneer ILS Interval Fund (XILSX).

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. XILSX is managed by Amundi. It was launched on Dec 16, 2014.

Performance

PRCPX vs. XILSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Credit Opportunities Fund (PRCPX) and Pioneer ILS Interval Fund (XILSX). The values are adjusted to include any dividend payments, if applicable.

PRCPX vs. XILSX - 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%	5.30%
XILSX Pioneer ILS Interval Fund	5.18%	18.70%	18.93%	18.65%	1.23%	-1.10%	7.37%	2.60%	-2.11%	-8.83%

Returns By Period

In the year-to-date period, PRCPX achieves a -0.13% return, which is significantly lower than XILSX's 5.18% 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%

XILSX

• 1D: 0.00%
• 1M: 1.50%
• YTD: 5.18%
• 6M: 11.15%
• 1Y: 25.12%
• 3Y*: 19.56%
• 5Y*: 11.91%
• 10Y*: —

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

PRCPX vs. XILSX - Expense Ratio Comparison

PRCPX has a 0.81% expense ratio, which is lower than XILSX's 1.88% expense ratio.

XILSX

Pioneer ILS Interval Fund

PRCPX

T. Rowe Price Credit Opportunities Fund

Return for Risk

PRCPX vs. XILSX — Risk / Return Rank

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

PRCPX

PRCPX Risk / Return Rank: 98
PRCPX Sharpe Ratio Rank: 99
PRCPX Sortino Ratio Rank: 98
PRCPX Omega Ratio Rank: 98
PRCPX Calmar Ratio Rank: 98
PRCPX Martin Ratio Rank: 98

XILSX

XILSX Risk / Return Rank: 100
XILSX Sharpe Ratio Rank: 100
XILSX Sortino Ratio Rank: 100
XILSX Omega Ratio Rank: 100
XILSX Calmar Ratio Rank: 100
XILSX Martin Ratio Rank: 100

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. XILSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Credit Opportunities Fund (PRCPX) and Pioneer ILS Interval Fund (XILSX). 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	XILSX	Difference
Sharpe ratio Return per unit of total volatility	3.47	8.38	-4.90
Sortino ratio Return per unit of downside risk	5.52	71.70	-66.18
Omega ratio Gain probability vs. loss probability	1.93	31.20	-29.28
Calmar ratio Return relative to maximum drawdown	4.53	120.30	-115.77
Martin ratio Return relative to average drawdown	21.08	749.82	-728.75
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. XILSX - Sharpe Ratio Comparison

The current PRCPX Sharpe Ratio is 3.47, which is lower than the XILSX Sharpe Ratio of 8.38. The chart below compares the historical Sharpe Ratios of PRCPX and XILSX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PRCPX	XILSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.47	8.38	-4.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.23	3.19	-1.96
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	1.58	-0.70

Correlation

The correlation between PRCPX and XILSX is 0.03, 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. XILSX - Dividend Comparison

PRCPX's dividend yield for the trailing twelve months is around 12.89%, more than XILSX's 9.04% 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%
XILSX Pioneer ILS Interval Fund	9.04%	9.51%	13.06%	12.82%	2.68%	2.04%	5.20%	6.63%	6.40%	0.00%	0.00%	0.00%

Drawdowns

PRCPX vs. XILSX - Drawdown Comparison

The maximum PRCPX drawdown since its inception was -23.07%, which is greater than XILSX's maximum drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for PRCPX and XILSX.

Drawdown Indicators

	PRCPX	XILSX	Difference
Max Drawdown Largest peak-to-trough decline	-23.07%	-14.53%	-8.54%
Max Drawdown (1Y) Largest decline over 1 year	-3.03%	-0.21%	-2.82%
Max Drawdown (5Y) Largest decline over 5 years	-14.34%	-6.27%	-8.07%
Max Drawdown (10Y) Largest decline over 10 years	-23.07%	—	—
Current Drawdown Current decline from peak	-1.74%	0.00%	-1.74%
Average Drawdown Average peak-to-trough decline	-3.16%	-5.00%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	0.03%	+0.62%

Volatility

PRCPX vs. XILSX - Volatility Comparison

T. Rowe Price Credit Opportunities Fund (PRCPX) has a higher volatility of 1.10% compared to Pioneer ILS Interval Fund (XILSX) at 0.73%. This indicates that PRCPX's price experiences larger fluctuations and is considered to be riskier than XILSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRCPX	XILSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	0.73%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	2.52%	2.18%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	4.11%	3.04%	+1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.79%	3.75%	+1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.45%	3.95%	+1.50%