PRHIX vs. CGHY.TO

Last updated Jun 4, 2026

PRHIX (T. Rowe Price High Yield Fund Class I) and CGHY.TO (CI High Yield Bond Private Pool ETF C$ Series) are both High Yield Bonds funds. Both are actively managed. Over the past 10 years, PRHIX returned 5.16%/yr vs 5.91%/yr for CGHY.TO. At a 0.36 correlation, their price movements are largely independent. PRHIX charges 0.62%/yr vs 0.76%/yr for CGHY.TO.

Performance

PRHIX vs. CGHY.TO - Performance Comparison

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

Different Trading Currencies

PRHIX is traded in USD, while CGHY.TO is traded in CAD. To make them comparable, the CGHY.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with PRHIX at 1.76% and CGHY.TO at 1.76%. Over the past 10 years, PRHIX has underperformed CGHY.TO with an annualized return of 5.16%, while CGHY.TO has yielded a comparatively higher 5.91% annualized 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.TO

• 1D: -0.12%
• 1M: -0.61%
• YTD: 1.76%
• 6M: 3.16%
• 1Y: 6.42%
• 3Y*: 8.03%
• 5Y*: 6.43%
• 10Y*: 5.91%

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

PRHIX vs. CGHY.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRHIX T. Rowe Price High Yield Fund Class I	1.76%	8.90%	6.17%	12.55%	-12.54%	5.48%	5.11%	14.82%	-3.19%	7.54%
CGHY.TO CI High Yield Bond Private Pool ETF C$ Series	1.76%	11.28%	1.00%	15.99%	5.91%	3.23%	0.84%	16.26%	-10.03%	13.18%

Correlation

The correlation between PRHIX and CGHY.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.36

Over the past year, the correlation between PRHIX and CGHY.TO has dropped to 0.14 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.

Return for Risk

PRHIX vs. CGHY.TO — 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

CGHY.TO

CGHY.TO Risk / Return Rank: 48
CGHY.TO Sharpe Ratio Rank: 35
CGHY.TO Sortino Ratio Rank: 33
CGHY.TO Omega Ratio Rank: 34
CGHY.TO Calmar Ratio Rank: 73
CGHY.TO Martin Ratio Rank: 65

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.TO - 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 CI High Yield Bond Private Pool ETF C$ Series (CGHY.TO). 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.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.34	0.87	+1.47
Sortino ratio: Return per unit of downside risk	4.05	1.28	+2.78
Omega ratio: Gain probability vs. loss probability	1.55	1.16	+0.40
Calmar ratio: Return relative to maximum drawdown	3.49	1.40	+2.08
Martin ratio: Return relative to average drawdown	17.81	4.36	+13.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRHIX vs. CGHY.TO - Sharpe Ratio Comparison

The current PRHIX Sharpe Ratio is 2.34, which is higher than the CGHY.TO Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of PRHIX and CGHY.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PRHIX	CGHY.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	0.87	+1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.42	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	0.40	+0.53
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.33	+0.69

Drawdowns

PRHIX vs. CGHY.TO - Drawdown Comparison

The maximum PRHIX drawdown since its inception was -22.09%, smaller than the maximum CGHY.TO drawdown of -31.01%. Use the drawdown chart below to compare losses from any high point for PRHIX and CGHY.TO.

Drawdown Indicators

	PRHIX	CGHY.TO	Difference
Max Drawdown Largest peak-to-trough decline	-22.09%	-31.01%	+8.92%
Max Drawdown (1Y) Largest decline over 1 year	-2.18%	-4.59%	+2.41%
Max Drawdown (3Y) Largest decline over 3 years	-3.84%	-6.71%	+2.87%
Max Drawdown (5Y) Largest decline over 5 years	-16.53%	-17.46%	+0.93%
Max Drawdown (10Y) Largest decline over 10 years	-22.09%	-31.01%	+8.92%
Current Drawdown Current decline from peak	0.00%	-1.09%	+1.09%
Average Drawdown Average peak-to-trough decline	-2.50%	-5.29%	+2.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	1.47%	-1.04%

Volatility

PRHIX vs. CGHY.TO - Volatility Comparison

The current volatility for T. Rowe Price High Yield Fund Class I (PRHIX) is 0.94%, while CI High Yield Bond Private Pool ETF C$ Series (CGHY.TO) has a volatility of 1.26%. This indicates that PRHIX experiences smaller price fluctuations and is considered to be less risky than CGHY.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRHIX	CGHY.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	1.26%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	2.41%	5.57%	-3.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.24%	7.41%	-4.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.16%	15.41%	-10.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.53%	14.68%	-9.15%

PRHIX vs. CGHY.TO - Expense Ratio Comparison

PRHIX has a 0.62% expense ratio, which is lower than CGHY.TO's 0.76% expense ratio.

Dividends

PRHIX vs. CGHY.TO - Dividend Comparison

PRHIX's dividend yield for the trailing twelve months is around 6.79%, more than CGHY.TO's 5.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CGHY.TO CI High Yield Bond Private Pool ETF C$ Series	5.25%	5.40%	4.99%	5.14%	5.08%	6.32%	6.08%	5.65%	5.91%	5.45%	5.57%	5.23%
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%	0.00%

Frequently Asked Questions

Can I hold both PRHIX and CGHY.TO in my portfolio?

PRHIX and CGHY.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.