PRHYX vs. PHYQX
PRHYX (T. Rowe Price High Yield Fund) and PHYQX (PGIM High Yield Fund Class R6) are both High Yield Bonds funds. Over the past 10 years, PRHYX returned 6.43%/yr vs 5.87%/yr for PHYQX. A 0.78 correlation means they provide meaningful diversification when combined. PRHYX charges 0.70%/yr vs 0.38%/yr for PHYQX.
Performance
PRHYX vs. PHYQX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PRHYX achieves a 1.39% return, which is significantly lower than PHYQX's 1.85% return. Over the past 10 years, PRHYX has outperformed PHYQX with an annualized return of 6.43%, while PHYQX has yielded a comparatively lower 5.87% annualized return.
PRHYX
- 1D
- 0.00%
- 1M
- 0.40%
- YTD
- 1.39%
- 6M
- 2.08%
- 1Y
- 6.57%
- 3Y*
- 11.74%
- 5Y*
- 6.21%
- 10Y*
- 6.43%
PHYQX
- 1D
- 0.21%
- 1M
- 0.81%
- YTD
- 1.85%
- 6M
- 2.65%
- 1Y
- 7.31%
- 3Y*
- 9.06%
- 5Y*
- 4.13%
- 10Y*
- 5.87%
PRHYX vs. PHYQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRHYX T. Rowe Price High Yield Fund | 1.39% | 10.44% | 12.07% | 20.05% | -12.48% | 5.22% | 4.99% | 14.69% | -3.30% | 7.40% |
PHYQX PGIM High Yield Fund Class R6 | 1.85% | 9.18% | 8.55% | 12.34% | -12.22% | 5.99% | 5.79% | 16.29% | -1.18% | 7.74% |
Correlation
The correlation between PRHYX and PHYQX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2011 | 0.78 |
The correlation between PRHYX and PHYQX shifts across timeframes, from 0.59 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PRHYX vs. PHYQX — Risk / Return Rank
PRHYX
PHYQX
PRHYX vs. PHYQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price High Yield Fund (PRHYX) and PGIM High Yield Fund Class R6 (PHYQX). 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 | PHYQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.50 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 2.97 | +0.07 |
| Martin ratioReturn relative to average drawdown | 14.55 | 13.11 | +1.44 |
Loading charts...
Drawdowns
PRHYX vs. PHYQX - Drawdown Comparison
The maximum PRHYX drawdown since its inception was -30.79%, which is greater than PHYQX's maximum drawdown of -21.12%. Use the drawdown chart below to compare losses from any high point for PRHYX and PHYQX.
Loading charts...
Drawdown Indicators
| PRHYX | PHYQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.79% | -21.12% | -9.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -2.47% | +0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -3.33% | -3.76% | +0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -16.43% | -16.05% | -0.38% |
Max Drawdown (10Y)Largest decline over 10 years | -22.10% | -21.12% | -0.98% |
Current DrawdownCurrent decline from peak | -0.50% | -0.21% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -3.63% | -2.22% | -1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.56% | -0.11% |
Volatility
PRHYX vs. PHYQX - Volatility Comparison
The current volatility for T. Rowe Price High Yield Fund (PRHYX) is 0.95%, while PGIM High Yield Fund Class R6 (PHYQX) has a volatility of 1.12%. This indicates that PRHYX experiences smaller price fluctuations and is considered to be less risky than PHYQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PRHYX | PHYQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 1.12% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 2.85% | -0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.18% | 3.61% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 5.11% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.59% | 5.48% | +0.11% |
PRHYX vs. PHYQX - Expense Ratio Comparison
PRHYX has a 0.70% expense ratio, which is higher than PHYQX's 0.38% expense ratio.
Dividends
PRHYX vs. PHYQX - Dividend Comparison
PRHYX's dividend yield for the trailing twelve months is around 6.74%, less than PHYQX's 7.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHYQX PGIM High Yield Fund Class R6 | 7.09% | 7.07% | 7.53% | 7.09% | 6.29% | 6.23% | 6.56% | 6.32% | 6.64% | 6.38% | 4.88% | 7.05% |
PRHYX T. Rowe Price High Yield Fund | 6.74% | 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 PHYQX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PHYQX has higher volatility (1.12%) compared to PRHYX (0.95%). In terms of maximum drawdown, PRHYX dropped -30.79% vs PHYQX's -21.12%.
PRHYX currently has the higher Sharpe Ratio (2.07 vs 2.03), 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.
Find the right allocation for PRHYX and PHYQX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer