SSTHX vs. PRCPX

Last updated Jun 3, 2026

SSTHX (Allspring Short-Term High Yield Bond Fund) and PRCPX (T. Rowe Price Credit Opportunities Fund) are both High Yield Bonds funds. Over the past 10 years, SSTHX returned 3.85%/yr vs 6.62%/yr for PRCPX. A 0.72 correlation means they provide meaningful diversification when combined. SSTHX charges 0.94%/yr vs 0.81%/yr for PRCPX.

Performance

SSTHX vs. PRCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Short-Term High Yield Bond Fund (SSTHX) and T. Rowe Price Credit Opportunities Fund (PRCPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSTHX achieves a 1.51% return, which is significantly lower than PRCPX's 2.38% return. Over the past 10 years, SSTHX has underperformed PRCPX with an annualized return of 3.85%, while PRCPX has yielded a comparatively higher 6.62% annualized return.

SSTHX

• 1D: 0.00%
• 1M: 0.45%
• YTD: 1.51%
• 6M: 2.11%
• 1Y: 5.80%
• 3Y*: 6.11%
• 5Y*: 4.02%
• 10Y*: 3.85%

PRCPX

• 1D: -0.12%
• 1M: 0.65%
• YTD: 2.38%
• 6M: 4.13%
• 1Y: 10.72%
• 3Y*: 10.96%
• 5Y*: 5.80%
• 10Y*: 6.62%

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

SSTHX vs. PRCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSTHX Allspring Short-Term High Yield Bond Fund	1.51%	6.48%	6.28%	6.86%	-2.32%	3.16%	5.44%	6.64%	0.59%	2.21%
PRCPX T. Rowe Price Credit Opportunities Fund	2.38%	11.51%	9.36%	14.90%	-10.50%	6.36%	5.55%	13.77%	-1.44%	6.80%

Correlation

The correlation between SSTHX and PRCPX is 0.62, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since May 2, 2014	0.72

The correlation between SSTHX and PRCPX shifts across timeframes, from 0.62 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SSTHX vs. PRCPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SSTHX

SSTHX Risk / Return Rank: 90
SSTHX Sharpe Ratio Rank: 77
SSTHX Sortino Ratio Rank: 95
SSTHX Omega Ratio Rank: 93
SSTHX Calmar Ratio Rank: 89
SSTHX Martin Ratio Rank: 96

PRCPX

PRCPX Risk / Return Rank: 95
PRCPX Sharpe Ratio Rank: 94
PRCPX Sortino Ratio Rank: 97
PRCPX Omega Ratio Rank: 96
PRCPX Calmar Ratio Rank: 94
PRCPX Martin Ratio Rank: 97

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.

SSTHX vs. PRCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Short-Term High Yield Bond Fund (SSTHX) and T. Rowe Price Credit Opportunities Fund (PRCPX). 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.

	SSTHX	PRCPX	Difference
Sharpe ratio Return per unit of total volatility	2.55	3.21	-0.66
Sortino ratio Return per unit of downside risk	5.10	6.16	-1.07
Omega ratio Gain probability vs. loss probability	1.71	1.83	-0.12
Calmar ratio Return relative to maximum drawdown	4.52	5.39	-0.87
Martin ratio Return relative to average drawdown	24.15	25.91	-1.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSTHX vs. PRCPX - Sharpe Ratio Comparison

The current SSTHX Sharpe Ratio is 2.55, which is comparable to the PRCPX Sharpe Ratio of 3.21. The chart below compares the historical Sharpe Ratios of SSTHX and PRCPX, 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

	SSTHX	PRCPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	3.21	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.30	1.21	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.09	1.22	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	0.89	+0.37

Drawdowns

SSTHX vs. PRCPX - Drawdown Comparison

The maximum SSTHX drawdown since its inception was -14.24%, smaller than the maximum PRCPX drawdown of -23.07%. Use the drawdown chart below to compare losses from any high point for SSTHX and PRCPX.

Drawdown Indicators

	SSTHX	PRCPX	Difference
Max Drawdown Largest peak-to-trough decline	-14.24%	-23.07%	+8.83%
Max Drawdown (1Y) Largest decline over 1 year	-1.39%	-1.99%	+0.60%
Max Drawdown (3Y) Largest decline over 3 years	-2.05%	-3.83%	+1.78%
Max Drawdown (5Y) Largest decline over 5 years	-6.05%	-14.34%	+8.29%
Max Drawdown (10Y) Largest decline over 10 years	-14.24%	-23.07%	+8.83%
Current Drawdown Current decline from peak	0.00%	-0.12%	+0.12%
Average Drawdown Average peak-to-trough decline	-0.93%	-3.12%	+2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	0.41%	-0.15%

Volatility

SSTHX vs. PRCPX - Volatility Comparison

The current volatility for Allspring Short-Term High Yield Bond Fund (SSTHX) is 0.72%, while T. Rowe Price Credit Opportunities Fund (PRCPX) has a volatility of 1.14%. This indicates that SSTHX experiences smaller price fluctuations and is considered to be less risky than PRCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSTHX	PRCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	1.14%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	1.85%	2.48%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	2.29%	3.36%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.11%	4.82%	-1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.54%	5.46%	-1.92%

SSTHX vs. PRCPX - Expense Ratio Comparison

SSTHX has a 0.94% expense ratio, which is higher than PRCPX's 0.81% expense ratio.

Dividends

SSTHX vs. PRCPX - Dividend Comparison

SSTHX's dividend yield for the trailing twelve months is around 5.52%, less than PRCPX's 9.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRCPX T. Rowe Price Credit Opportunities Fund	9.85%	9.32%	8.77%	7.88%	4.89%	5.11%	5.36%	5.18%	5.72%	4.95%	5.88%	7.58%
SSTHX Allspring Short-Term High Yield Bond Fund	5.52%	5.61%	5.81%	5.04%	3.85%	3.35%	3.34%	3.27%	3.16%	2.81%	2.93%	2.76%

Frequently Asked Questions

Can I hold both SSTHX and PRCPX in my portfolio?

SSTHX and PRCPX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSTHX or PRCPX?

PRCPX has higher volatility (1.14%) compared to SSTHX (0.72%). In terms of maximum drawdown, SSTHX dropped -14.24% vs PRCPX's -23.07%.

Which has better risk-adjusted returns?

PRCPX currently has the higher Sharpe Ratio (3.21 vs 2.55), 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.