PRHIX vs. CGHY
PRHIX (T. Rowe Price High Yield Fund Class I) and CGHY (Capital Group High Yield Bond ETF) are both High Yield Bonds funds. Over the past year, PRHIX returned 5.20% vs 6.10% for CGHY. A 0.65 correlation means they provide meaningful diversification when combined. PRHIX charges 0.62%/yr vs 0.39%/yr for CGHY.
Performance
PRHIX vs. CGHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PRHIX achieves a 1.08% return, which is significantly lower than CGHY's 2.06% return.
PRHIX
- 1D
- -0.17%
- 1M
- 0.24%
- 6M
- 0.91%
- YTD
- 1.08%
- 1Y
- 5.20%
- 3Y*
- 7.48%
- 5Y*
- 3.19%
- 10Y*
- 4.83%
CGHY
- 1D
- 0.16%
- 1M
- 0.01%
- 6M
- 1.56%
- YTD
- 2.06%
- 1Y
- 6.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PRHIX vs. CGHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PRHIX T. Rowe Price High Yield Fund Class I | 1.08% | 4.81% |
CGHY Capital Group High Yield Bond ETF | 2.06% | 3.83% |
Correlation
The correlation between PRHIX and CGHY is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.65 |
The correlation between PRHIX and CGHY has been stable across timeframes, ranging from 0.65 to 0.65 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PRHIX vs. CGHY — Risk / Return Rank
PRHIX
CGHY
PRHIX vs. CGHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price High Yield Fund Class I (PRHIX) and Capital Group High Yield Bond ETF (CGHY). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PRHIX | CGHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.36 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.58 | -0.18 |
| Martin ratioReturn relative to average drawdown | 11.08 | 11.74 | -0.66 |
Loading charts...
Drawdowns
PRHIX vs. CGHY - Drawdown Comparison
The maximum PRHIX drawdown since its inception was -22.09%, which is greater than CGHY's maximum drawdown of -2.38%. Use the drawdown chart below to compare losses from any high point for PRHIX and CGHY.
Loading charts...
Drawdown Indicators
| PRHIX | CGHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.09% | -2.38% | -19.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.18% | -2.38% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -3.84% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.09% | — | — |
Current DrawdownCurrent decline from peak | -0.44% | -0.32% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -2.48% | -0.30% | -2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 0.52% | -0.05% |
Volatility
PRHIX vs. CGHY - Volatility Comparison
T. Rowe Price High Yield Fund Class I (PRHIX) has a higher volatility of 0.98% compared to Capital Group High Yield Bond ETF (CGHY) at 0.66%. This indicates that PRHIX's price experiences larger fluctuations and is considered to be riskier than CGHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PRHIX | CGHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.66% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.40% | 2.70% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.26% | 3.31% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.17% | 3.28% | +1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.50% | 3.28% | +2.22% |
PRHIX vs. CGHY - Expense Ratio Comparison
PRHIX has a 0.62% expense ratio, which is higher than CGHY's 0.39% expense ratio.
Dividends
PRHIX vs. CGHY - Dividend Comparison
PRHIX's dividend yield for the trailing twelve months is around 6.30%, more than CGHY's 5.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CGHY Capital Group High Yield Bond ETF | 5.46% | 3.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PRHIX T. Rowe Price High Yield Fund Class I | 6.30% | 6.78% | 6.13% | 5.33% | 4.77% | 5.18% | 5.31% | 5.59% | 6.37% | 5.62% | 6.15% |
Frequently Asked Questions
PRHIX and CGHY have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRHIX has higher volatility (0.98%) compared to CGHY (0.66%). In terms of maximum drawdown, PRHIX dropped -22.09% vs CGHY's -2.38%.
CGHY currently has the higher Sharpe Ratio (1.85 vs 1.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for PRHIX and CGHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer