PRHYX vs. FGQMX
PRHYX (T. Rowe Price High Yield Fund) and FGQMX (Fidelity Advisor High Income Fund Class A) are both High Yield Bonds funds. Over the past 5 years, PRHYX returned 5.91%/yr vs 3.51%/yr for FGQMX. Their correlation of 0.83 means they have usually moved in the same direction. PRHYX charges 0.70%/yr vs 0.99%/yr for FGQMX.
Performance
PRHYX vs. FGQMX - Performance Comparison
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Returns By Period
In the year-to-date period, PRHYX achieves a 1.10% return, which is significantly lower than FGQMX's 2.41% return.
PRHYX
- 1D
- 0.17%
- 1M
- -0.84%
- 6M
- 0.54%
- YTD
- 1.10%
- 1Y
- 4.59%
- 3Y*
- 10.57%
- 5Y*
- 5.91%
- 10Y*
- 6.12%
- ALL TIME*
- 6.20%
FGQMX
- 1D
- 0.25%
- 1M
- -0.98%
- 6M
- 1.57%
- YTD
- 2.41%
- 1Y
- 6.78%
- 3Y*
- 8.63%
- 5Y*
- 3.51%
- 10Y*
- —
- ALL TIME*
- 4.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PRHYX vs. FGQMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PRHYX T. Rowe Price High Yield Fund | 1.10% | 10.44% | 12.07% | 20.05% | -12.48% | 5.22% | 4.99% | 14.69% | -2.18% |
FGQMX Fidelity Advisor High Income Fund Class A | 2.41% | 9.53% | 9.11% | 10.67% | -13.27% | 3.43% | 2.05% | 13.94% | -2.68% |
Correlation
The correlation between PRHYX and FGQMX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2018 | 0.83 |
The correlation between PRHYX and FGQMX shifts across timeframes, from 0.67 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRHYX vs. FGQMX — Risk / Return Rank
PRHYX
FGQMX
PRHYX vs. FGQMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price High Yield Fund (PRHYX) and Fidelity Advisor High Income Fund Class A (FGQMX). 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.
| PRHYX | FGQMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.44 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 3.13 | -1.10 |
| Martin ratioReturn relative to average drawdown | 9.07 | 13.62 | -4.56 |
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Drawdowns
PRHYX vs. FGQMX - Drawdown Comparison
The maximum PRHYX drawdown since its inception was -30.79%, which is greater than FGQMX's maximum drawdown of -22.40%. Use the drawdown chart below to compare losses from any high point for PRHYX and FGQMX.
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Drawdown Indicators
| PRHYX | FGQMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.79% | -22.40% | -8.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -2.21% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -3.33% | -4.05% | +0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -16.43% | -16.58% | +0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -22.10% | — | — |
Current DrawdownCurrent decline from peak | -1.01% | -1.13% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -3.62% | -3.56% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 0.51% | -0.02% |
Volatility
PRHYX vs. FGQMX - Volatility Comparison
The current volatility for T. Rowe Price High Yield Fund (PRHYX) is 0.63%, while Fidelity Advisor High Income Fund Class A (FGQMX) has a volatility of 0.71%. This indicates that PRHYX experiences smaller price fluctuations and is considered to be less risky than FGQMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRHYX | FGQMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.71% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.50% | 2.76% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 3.42% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 5.30% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.57% | 6.30% | -0.73% |
PRHYX vs. FGQMX - Expense Ratio Comparison
PRHYX has a 0.70% expense ratio, which is lower than FGQMX's 0.99% expense ratio.
Dividends
PRHYX vs. FGQMX - Dividend Comparison
PRHYX's dividend yield for the trailing twelve months is around 6.26%, more than FGQMX's 5.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FGQMX Fidelity Advisor High Income Fund Class A | 5.71% | 6.14% | 5.81% | 5.13% | 3.68% | 3.83% | 4.44% | 4.82% | 0.85% | 0.00% | 0.00% | 0.00% |
PRHYX T. Rowe Price High Yield Fund | 6.26% | 8.33% | 11.50% | 11.49% | 4.68% | 5.09% | 5.19% | 5.48% | 6.25% | 5.49% | 6.02% | 6.45% |
Frequently Asked Questions
PRHYX and FGQMX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FGQMX has higher volatility (0.71%) compared to PRHYX (0.63%). In terms of maximum drawdown, PRHYX dropped -30.79% vs FGQMX's -22.40%.
FGQMX currently has the higher Sharpe Ratio (2.03 vs 1.39), 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.
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