PRHYX vs. BLV
Compare and contrast key facts about T. Rowe Price High Yield Fund (PRHYX) and Vanguard Long-Term Bond ETF (BLV).
PRHYX is managed by T. Rowe Price. It was launched on Dec 31, 1984. BLV is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Long Government/Credit Float Adjusted Index. It was launched on Apr 3, 2007.
Performance
PRHYX vs. BLV - Performance Comparison
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PRHYX vs. BLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRHYX T. Rowe Price High Yield Fund | 0.26% | 14.35% | 7.24% | 13.68% | -12.48% | 5.22% | 4.99% | 14.69% | -3.30% | 7.40% |
BLV Vanguard Long-Term Bond ETF | -0.30% | 6.44% | -3.65% | 7.35% | -26.95% | -2.89% | 16.13% | 18.99% | -4.17% | 10.74% |
Returns By Period
In the year-to-date period, PRHYX achieves a 0.26% return, which is significantly higher than BLV's -0.30% return. Over the past 10 years, PRHYX has outperformed BLV with an annualized return of 6.01%, while BLV has yielded a comparatively lower 1.20% annualized return.
PRHYX
- 1D
- 0.51%
- 1M
- -1.17%
- YTD
- 0.26%
- 6M
- 3.55%
- 1Y
- 13.54%
- 3Y*
- 10.49%
- 5Y*
- 4.97%
- 10Y*
- 6.01%
BLV
- 1D
- 0.02%
- 1M
- -2.79%
- YTD
- -0.30%
- 6M
- -0.97%
- 1Y
- 1.71%
- 3Y*
- 1.02%
- 5Y*
- -3.05%
- 10Y*
- 1.20%
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PRHYX vs. BLV - Expense Ratio Comparison
PRHYX has a 0.70% expense ratio, which is higher than BLV's 0.03% expense ratio.
Return for Risk
PRHYX vs. BLV — Risk / Return Rank
PRHYX
BLV
PRHYX vs. BLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price High Yield Fund (PRHYX) and Vanguard Long-Term Bond ETF (BLV). 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.
| PRHYX | BLV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.34 | 0.18 | +3.17 |
Sortino ratioReturn per unit of downside risk | 5.25 | 0.30 | +4.95 |
Omega ratioGain probability vs. loss probability | 1.87 | 1.04 | +0.83 |
Calmar ratioReturn relative to maximum drawdown | 4.62 | 0.34 | +4.28 |
Martin ratioReturn relative to average drawdown | 21.42 | 0.83 | +20.59 |
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
| PRHYX | BLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.34 | 0.18 | +3.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | -0.24 | +1.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.09 | 0.10 | +0.99 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.31 | 0.37 | +0.95 |
Correlation
The correlation between PRHYX and BLV is 0.07, 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
PRHYX vs. BLV - Dividend Comparison
PRHYX's dividend yield for the trailing twelve months is around 12.50%, more than BLV's 4.76% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRHYX T. Rowe Price High Yield Fund | 12.50% | 11.80% | 7.12% | 6.27% | 4.68% | 5.09% | 5.19% | 5.48% | 6.25% | 5.49% | 6.02% | 6.45% |
BLV Vanguard Long-Term Bond ETF | 4.76% | 4.67% | 5.09% | 4.06% | 4.17% | 3.37% | 6.12% | 3.57% | 4.07% | 3.63% | 4.16% | 4.37% |
Drawdowns
PRHYX vs. BLV - Drawdown Comparison
The maximum PRHYX drawdown since its inception was -30.79%, smaller than the maximum BLV drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for PRHYX and BLV.
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Drawdown Indicators
| PRHYX | BLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.79% | -38.29% | +7.50% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -6.89% | +3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -16.43% | -36.27% | +19.84% |
Max Drawdown (10Y)Largest decline over 10 years | -22.10% | -38.29% | +16.19% |
Current DrawdownCurrent decline from peak | -1.34% | -24.58% | +23.24% |
Average DrawdownAverage peak-to-trough decline | -3.71% | -9.38% | +5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 2.85% | -2.19% |
Volatility
PRHYX vs. BLV - Volatility Comparison
The current volatility for T. Rowe Price High Yield Fund (PRHYX) is 1.31%, while Vanguard Long-Term Bond ETF (BLV) has a volatility of 3.54%. This indicates that PRHYX experiences smaller price fluctuations and is considered to be less risky than BLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRHYX | BLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 3.54% | -2.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 5.49% | -2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 9.75% | -5.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 12.97% | -7.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 11.99% | -6.45% |