THYF vs. MHY
THYF (T. Rowe Price U.S. High Yield ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. THYF charges 0.56%/yr vs 0.69%/yr for MHY.
Performance
THYF vs. MHY - Performance Comparison
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Returns By Period
In the year-to-date period, THYF achieves a 1.92% return, which is significantly lower than MHY's 5.06% return.
THYF
- 1D
- -0.16%
- 1M
- -0.02%
- 6M
- 1.62%
- YTD
- 1.92%
- 1Y
- 5.72%
- 3Y*
- 7.91%
- 5Y*
- —
- 10Y*
- —
MHY
- 1D
- 0.07%
- 1M
- 1.69%
- 6M
- 4.42%
- YTD
- 5.06%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
THYF vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
THYF T. Rowe Price U.S. High Yield ETF | 1.92% | 1.40% |
MHY Man Active High Yield ETF | 5.06% | 1.54% |
Correlation
The correlation between THYF and MHY is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.69 |
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Return for Risk
THYF vs. MHY — Risk / Return Rank
THYF
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
THYF vs. MHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price U.S. High Yield ETF (THYF) and Man Active High Yield ETF (MHY). 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.
| THYF | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.31 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | — | — |
| Martin ratioReturn relative to average drawdown | 9.34 | — | — |
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Drawdowns
THYF vs. MHY - Drawdown Comparison
The maximum THYF drawdown since its inception was -5.24%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for THYF and MHY.
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Drawdown Indicators
| THYF | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.24% | -1.58% | -3.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.07% | — | — |
Current DrawdownCurrent decline from peak | -0.46% | -0.11% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -0.80% | -0.28% | -0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | — | — |
Volatility
THYF vs. MHY - Volatility Comparison
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Volatility by Period
| THYF | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.54% | 2.95% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.76% | 2.95% | +2.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.76% | 2.95% | +2.81% |
THYF vs. MHY - Expense Ratio Comparison
THYF has a 0.56% expense ratio, which is lower than MHY's 0.69% expense ratio.
Dividends
THYF vs. MHY - Dividend Comparison
THYF's dividend yield for the trailing twelve months is around 6.96%, more than MHY's 5.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MHY Man Active High Yield ETF | 5.26% | 3.42% | 0.00% | 0.00% | 0.00% |
THYF T. Rowe Price U.S. High Yield ETF | 6.96% | 7.17% | 7.30% | 8.02% | 1.50% |
Frequently Asked Questions
THYF and MHY have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, THYF is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.
THYF is cheaper with a 0.56% expense ratio, compared with 0.69% for MHY.
THYF has the higher dividend yield at 6.96%, compared with 5.26% for MHY.
They also come from different issuers: T. Rowe Price and Man Group. Their fees differ too: 0.56% for THYF and 0.69% for MHY.
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