TIHYX vs. PRCPX
Compare and contrast key facts about TIAA-CREF High Yield Fund (TIHYX) and T. Rowe Price Credit Opportunities Fund (PRCPX).
TIHYX is managed by TIAA Investments. It was launched on Mar 31, 2006. PRCPX is a passively managed fund by T. Rowe Price that tracks the performance of the Bloomberg US High-Yield 2% Issuer Capped Bond Index. It was launched on Apr 29, 2014.
Performance
TIHYX vs. PRCPX - Performance Comparison
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TIHYX vs. PRCPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIHYX TIAA-CREF High Yield Fund | -0.62% | 8.43% | 6.75% | 12.42% | -10.72% | 4.81% | 2.63% | 16.67% | -3.10% | 5.69% |
PRCPX T. Rowe Price Credit Opportunities Fund | 0.37% | 14.80% | 7.46% | 14.90% | -10.50% | 6.36% | 5.55% | 13.77% | -1.44% | 6.80% |
Returns By Period
In the year-to-date period, TIHYX achieves a -0.62% return, which is significantly lower than PRCPX's 0.37% return. Over the past 10 years, TIHYX has underperformed PRCPX with an annualized return of 5.34%, while PRCPX has yielded a comparatively higher 6.88% annualized return.
TIHYX
- 1D
- 0.69%
- 1M
- -1.46%
- YTD
- -0.62%
- 6M
- 1.12%
- 1Y
- 6.84%
- 3Y*
- 7.71%
- 5Y*
- 3.74%
- 10Y*
- 5.34%
PRCPX
- 1D
- 0.51%
- 1M
- -1.12%
- YTD
- 0.37%
- 6M
- 3.54%
- 1Y
- 14.12%
- 3Y*
- 10.79%
- 5Y*
- 5.93%
- 10Y*
- 6.88%
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TIHYX vs. PRCPX - Expense Ratio Comparison
TIHYX has a 0.36% expense ratio, which is lower than PRCPX's 0.81% expense ratio.
Return for Risk
TIHYX vs. PRCPX — Risk / Return Rank
TIHYX
PRCPX
TIHYX vs. PRCPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF High Yield Fund (TIHYX) 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.
| TIHYX | PRCPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.78 | 3.49 | -1.71 |
Sortino ratioReturn per unit of downside risk | 2.60 | 5.55 | -2.95 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.93 | -0.53 |
Calmar ratioReturn relative to maximum drawdown | 2.20 | 4.86 | -2.66 |
Martin ratioReturn relative to average drawdown | 9.70 | 22.46 | -12.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TIHYX | PRCPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.78 | 3.49 | -1.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 1.24 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | 1.27 | -0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.06 | 0.88 | +0.17 |
Correlation
The correlation between TIHYX and PRCPX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TIHYX vs. PRCPX - Dividend Comparison
TIHYX's dividend yield for the trailing twelve months is around 6.09%, less than PRCPX's 12.83% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIHYX TIAA-CREF High Yield Fund | 6.09% | 6.54% | 5.35% | 5.55% | 4.63% | 4.68% | 5.44% | 5.95% | 5.53% | 5.24% | 5.74% | 4.77% |
PRCPX T. Rowe Price Credit Opportunities Fund | 12.83% | 12.19% | 7.03% | 7.88% | 4.89% | 5.11% | 5.36% | 5.18% | 5.72% | 4.95% | 5.88% | 7.58% |
Drawdowns
TIHYX vs. PRCPX - Drawdown Comparison
The maximum TIHYX drawdown since its inception was -27.52%, which is greater than PRCPX's maximum drawdown of -23.07%. Use the drawdown chart below to compare losses from any high point for TIHYX and PRCPX.
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Drawdown Indicators
| TIHYX | PRCPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.52% | -23.07% | -4.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -3.03% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -15.35% | -14.34% | -1.01% |
Max Drawdown (10Y)Largest decline over 10 years | -22.82% | -23.07% | +0.25% |
Current DrawdownCurrent decline from peak | -1.57% | -1.24% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -2.59% | -3.16% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.66% | +0.07% |
Volatility
TIHYX vs. PRCPX - Volatility Comparison
TIAA-CREF High Yield Fund (TIHYX) has a higher volatility of 1.41% compared to T. Rowe Price Credit Opportunities Fund (PRCPX) at 1.24%. This indicates that TIHYX's price experiences larger fluctuations and is considered to be riskier than PRCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIHYX | PRCPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.24% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 2.48% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 4.12% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.15% | 4.79% | +0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.89% | 5.45% | +0.44% |