PRHYX vs. FDHY
Compare and contrast key facts about T. Rowe Price High Yield Fund (PRHYX) and Fidelity High Yield Factor ETF (FDHY).
PRHYX is managed by T. Rowe Price. It was launched on Dec 31, 1984. FDHY is an actively managed fund by Fidelity. It was launched on Jun 12, 2018.
Performance
PRHYX vs. FDHY - Performance Comparison
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PRHYX vs. FDHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PRHYX T. Rowe Price High Yield Fund | 0.26% | 14.35% | 7.24% | 13.68% | -12.48% | 5.22% | 4.99% | 14.69% | -2.52% |
FDHY Fidelity High Yield Factor ETF | 0.23% | 9.24% | 7.53% | 11.14% | -11.30% | 4.33% | 10.71% | 16.87% | -2.14% |
Returns By Period
In the year-to-date period, PRHYX achieves a 0.26% return, which is significantly higher than FDHY's 0.23% 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%
FDHY
- 1D
- 0.27%
- 1M
- -0.81%
- YTD
- 0.23%
- 6M
- 1.94%
- 1Y
- 8.03%
- 3Y*
- 7.90%
- 5Y*
- 3.86%
- 10Y*
- —
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PRHYX vs. FDHY - Expense Ratio Comparison
PRHYX has a 0.70% expense ratio, which is higher than FDHY's 0.45% expense ratio.
Return for Risk
PRHYX vs. FDHY — Risk / Return Rank
PRHYX
FDHY
PRHYX vs. FDHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price High Yield Fund (PRHYX) and Fidelity High Yield Factor ETF (FDHY). 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 | FDHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.34 | 1.52 | +1.82 |
Sortino ratioReturn per unit of downside risk | 5.25 | 2.20 | +3.04 |
Omega ratioGain probability vs. loss probability | 1.87 | 1.35 | +0.52 |
Calmar ratioReturn relative to maximum drawdown | 4.62 | 1.80 | +2.82 |
Martin ratioReturn relative to average drawdown | 21.42 | 9.97 | +11.45 |
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 | FDHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.34 | 1.52 | +1.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | 0.54 | +0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.31 | 0.70 | +0.62 |
Correlation
The correlation between PRHYX and FDHY is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PRHYX vs. FDHY - Dividend Comparison
PRHYX's dividend yield for the trailing twelve months is around 12.50%, more than FDHY's 6.58% 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% |
FDHY Fidelity High Yield Factor ETF | 6.58% | 6.56% | 6.58% | 6.26% | 5.34% | 6.09% | 5.78% | 4.94% | 2.55% | 0.00% | 0.00% | 0.00% |
Drawdowns
PRHYX vs. FDHY - Drawdown Comparison
The maximum PRHYX drawdown since its inception was -30.79%, which is greater than FDHY's maximum drawdown of -20.01%. Use the drawdown chart below to compare losses from any high point for PRHYX and FDHY.
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Drawdown Indicators
| PRHYX | FDHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.79% | -20.01% | -10.78% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -4.54% | +1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -16.43% | -16.38% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -22.10% | — | — |
Current DrawdownCurrent decline from peak | -1.34% | -0.95% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -3.71% | -2.93% | -0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.82% | -0.16% |
Volatility
PRHYX vs. FDHY - Volatility Comparison
The current volatility for T. Rowe Price High Yield Fund (PRHYX) is 1.31%, while Fidelity High Yield Factor ETF (FDHY) has a volatility of 1.90%. This indicates that PRHYX experiences smaller price fluctuations and is considered to be less risky than FDHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRHYX | FDHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 1.90% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 2.73% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 5.29% | -1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 7.11% | -1.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.54% | 8.11% | -2.57% |