THYF vs. TFNS

Last updated Jun 24, 2026

THYF (T. Rowe Price U.S. High Yield ETF) and TFNS (T. Rowe Price Financials ETF) are both exchange-traded funds - THYF is a High Yield Bonds fund actively managed by T. Rowe Price, while TFNS is a Financials Equities fund actively managed by T. Rowe Price. Both are actively managed. Over the past year, THYF returned 6.06% vs 11.45% for TFNS. A 0.52 correlation means they provide meaningful diversification when combined. THYF charges 0.56%/yr vs 0.44%/yr for TFNS.

Performance

THYF vs. TFNS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price U.S. High Yield ETF (THYF) and T. Rowe Price Financials ETF (TFNS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THYF achieves a 1.84% return, which is significantly higher than TFNS's 0.45% return.

THYF

• 1D: -0.15%
• 1M: 0.51%
• YTD: 1.84%
• 6M: 1.95%
• 1Y: 6.06%
• 3Y*: 8.57%
• 5Y*: —
• 10Y*: —

TFNS

• 1D: 0.34%
• 1M: 4.00%
• YTD: 0.45%
• 6M: -0.86%
• 1Y: 11.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

THYF vs. TFNS - Yearly Performance Comparison

	2026 (YTD)	2025
THYF T. Rowe Price U.S. High Yield ETF	1.84%	4.99%
TFNS T. Rowe Price Financials ETF	0.45%	11.06%

Correlation

The correlation between THYF and TFNS is 0.51, 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	0.51
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.52

The correlation between THYF and TFNS has been stable across timeframes, ranging from 0.51 to 0.52 - a consistent structural relationship.

Return for Risk

THYF vs. TFNS — Risk / Return Rank

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

THYF

THYF Risk / Return Rank: 55
THYF Sharpe Ratio Rank: 54
THYF Sortino Ratio Rank: 60
THYF Omega Ratio Rank: 57
THYF Calmar Ratio Rank: 46
THYF Martin Ratio Rank: 59

TFNS

TFNS Risk / Return Rank: 21
TFNS Sharpe Ratio Rank: 23
TFNS Sortino Ratio Rank: 21
TFNS Omega Ratio Rank: 21
TFNS Calmar Ratio Rank: 20
TFNS Martin Ratio Rank: 20

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.

THYF vs. TFNS - 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 T. Rowe Price Financials ETF (TFNS). 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	TFNS	Difference
Sharpe ratio: Return per unit of total volatility	1.72	0.77	+0.95
Sortino ratio: Return per unit of downside risk	2.63	1.12	+1.51
Omega ratio: Gain probability vs. loss probability	1.33	1.14	+0.19
Calmar ratio: Return relative to maximum drawdown	2.17	0.82	+1.35
Martin ratio: Return relative to average drawdown	9.87	2.21	+7.66

THYF vs. TFNS - Sharpe Ratio Comparison

The current THYF Sharpe Ratio is 1.72, which is higher than the TFNS Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of THYF and TFNS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

THYF vs. TFNS - Drawdown Comparison

The maximum THYF drawdown since its inception was -5.24%, smaller than the maximum TFNS drawdown of -14.00%. Use the drawdown chart below to compare losses from any high point for THYF and TFNS.

Drawdown Indicators

	THYF	TFNS	Difference
Max Drawdown Largest peak-to-trough decline	-5.24%	-14.00%	+8.76%
Max Drawdown (1Y) Largest decline over 1 year	-2.80%	-14.00%	+11.20%
Max Drawdown (3Y) Largest decline over 3 years	-5.07%	—	—
Current Drawdown Current decline from peak	-0.35%	-2.36%	+2.01%
Average Drawdown Average peak-to-trough decline	-0.81%	-3.82%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	5.19%	-4.57%

Volatility

THYF vs. TFNS - Volatility Comparison

The current volatility for T. Rowe Price U.S. High Yield ETF (THYF) is 0.95%, while T. Rowe Price Financials ETF (TFNS) has a volatility of 4.03%. This indicates that THYF experiences smaller price fluctuations and is considered to be less risky than TFNS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THYF	TFNS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	4.03%	-3.08%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	11.45%	-8.68%
Volatility (1Y) Calculated over the trailing 1-year period	3.56%	15.00%	-11.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.79%	15.06%	-9.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.79%	15.06%	-9.27%

THYF vs. TFNS - Expense Ratio Comparison

THYF has a 0.56% expense ratio, which is higher than TFNS's 0.44% expense ratio.

Dividends

THYF vs. TFNS - Dividend Comparison

THYF's dividend yield for the trailing twelve months is around 7.00%, more than TFNS's 0.49% yield.

Position	TTM	2025	2024	2023	2022
TFNS T. Rowe Price Financials ETF	0.49%	0.49%	0.00%	0.00%	0.00%
THYF T. Rowe Price U.S. High Yield ETF	7.00%	7.17%	7.30%	8.02%	1.50%

Frequently Asked Questions

Can I hold both THYF and TFNS in my portfolio?

THYF and TFNS have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THYF or TFNS?

TFNS has higher volatility (4.03%) compared to THYF (0.95%). In terms of maximum drawdown, THYF dropped -5.24% vs TFNS's -14.00%.

Which ETF is better, THYF or TFNS?

On 1-year performance, TFNS leads with 11.45% vs 6.06% for THYF. On fees, TFNS is cheaper at 0.44% per year. On volatility, THYF has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THYF or TFNS?

Over the 1-year period, TFNS has performed better with a 11.45% return vs 6.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THYF or TFNS?

TFNS is cheaper with a 0.44% expense ratio, compared with 0.56% for THYF.

Which ETF pays a higher dividend yield, THYF or TFNS?

THYF has the higher dividend yield at 7.00%, compared with 0.49% for TFNS.

What is the main difference between THYF and TFNS?

THYF is categorized as High Yield Bonds, while TFNS is Financials Equities. Their fees differ too: 0.56% for THYF and 0.44% for TFNS.

Which has better risk-adjusted returns?

THYF currently has the higher Sharpe Ratio (1.72 vs 0.77), 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.