PRHIX vs. CGHY

Last updated Jun 4, 2026

PRHIX (T. Rowe Price High Yield Fund Class I) and CGHY (Capital Group High Yield Bond ETF) are both High Yield Bonds funds. A 0.64 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

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price High Yield Fund Class I (PRHIX) and Capital Group High Yield Bond ETF (CGHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRHIX achieves a 1.76% return, which is significantly lower than CGHY's 1.89% return.

PRHIX

• 1D: 0.00%
• 1M: 0.40%
• YTD: 1.76%
• 6M: 2.64%
• 1Y: 7.37%
• 3Y*: 8.44%
• 5Y*: 3.60%
• 10Y*: 5.16%

CGHY

• 1D: -0.24%
• 1M: 0.64%
• YTD: 1.89%
• 6M: 2.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PRHIX vs. CGHY - Yearly Performance Comparison

	2026 (YTD)	2025
PRHIX T. Rowe Price High Yield Fund Class I	1.76%	4.63%
CGHY Capital Group High Yield Bond ETF	1.89%	3.77%

Correlation

The correlation between PRHIX and CGHY is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.64

Return for Risk

PRHIX vs. CGHY — Risk / Return Rank

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

PRHIX

PRHIX Risk / Return Rank: 80
PRHIX Sharpe Ratio Rank: 64
PRHIX Sortino Ratio Rank: 85
PRHIX Omega Ratio Rank: 83
PRHIX Calmar Ratio Rank: 77
PRHIX Martin Ratio Rank: 89

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.

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.

	PRHIX	CGHY	Difference
Sharpe ratio: Return per unit of total volatility	2.34	—	—
Sortino ratio: Return per unit of downside risk	4.05	—	—
Omega ratio: Gain probability vs. loss probability	1.55	—	—
Calmar ratio: Return relative to maximum drawdown	3.49	—	—
Martin ratio: Return relative to average drawdown	17.81	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PRHIX	CGHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	1.86	-0.84

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.

Drawdown Indicators

	PRHIX	CGHY	Difference
Max Drawdown Largest peak-to-trough decline	-22.09%	-2.38%	-19.71%
Max Drawdown (1Y) Largest decline over 1 year	-2.18%	—	—
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 Drawdown Current decline from peak	0.00%	-0.35%	+0.35%
Average Drawdown Average peak-to-trough decline	-2.50%	-0.31%	-2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	—	—

Volatility

Volatility by Period

	PRHIX	CGHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.24%	3.33%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.16%	3.33%	+1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.53%	3.33%	+2.20%

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 6.79%, more than CGHY's 5.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CGHY Capital Group High Yield Bond ETF	5.08%	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	6.79%	6.78%	6.13%	5.33%	4.77%	5.18%	5.31%	5.59%	6.37%	5.62%	6.15%

Frequently Asked Questions

Can I hold both PRHIX and CGHY in my portfolio?

PRHIX and CGHY have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.