TMED vs. THYF

Last updated Jun 4, 2026

TMED (T. Rowe Price Health Care ETF) and THYF (T. Rowe Price U.S. High Yield ETF) are both exchange-traded funds - TMED is a Health & Biotech Equities fund managed by T. Rowe Price, while THYF is a High Yield Bonds fund actively managed by T. Rowe Price. At a 0.37 correlation, their price movements are largely independent. TMED charges 0.44%/yr vs 0.56%/yr for THYF.

Performance

TMED vs. THYF - Performance Comparison

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

Returns By Period

In the year-to-date period, TMED achieves a 3.87% return, which is significantly higher than THYF's 1.50% return.

TMED

• 1D: 1.04%
• 1M: 2.47%
• YTD: 3.87%
• 6M: 4.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYF

• 1D: -0.35%
• 1M: 0.61%
• YTD: 1.50%
• 6M: 1.90%
• 1Y: 7.02%
• 3Y*: 8.57%
• 5Y*: —
• 10Y*: —

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

TMED vs. THYF - Yearly Performance Comparison

	2026 (YTD)	2025
TMED T. Rowe Price Health Care ETF	3.87%	18.92%
THYF T. Rowe Price U.S. High Yield ETF	1.50%	4.95%

Correlation

The correlation between TMED and THYF is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	0.37

Return for Risk

TMED vs. THYF — Risk / Return Rank

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

THYF

THYF Risk / Return Rank: 61
THYF Sharpe Ratio Rank: 59
THYF Sortino Ratio Rank: 66
THYF Omega Ratio Rank: 64
THYF Calmar Ratio Rank: 51
THYF Martin Ratio Rank: 63

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.

TMED vs. THYF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Health Care ETF (TMED) and T. Rowe Price U.S. High Yield ETF (THYF). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TMED	THYF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.01	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	1.47	-0.12

Drawdowns

TMED vs. THYF - Drawdown Comparison

The maximum TMED drawdown since its inception was -11.11%, which is greater than THYF's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for TMED and THYF.

Drawdown Indicators

	TMED	THYF	Difference
Max Drawdown Largest peak-to-trough decline	-11.11%	-5.24%	-5.87%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.80%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.07%	—
Current Drawdown Current decline from peak	-2.75%	-0.35%	-2.40%
Average Drawdown Average peak-to-trough decline	-2.59%	-0.82%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.61%	—

Volatility

Volatility by Period

	TMED	THYF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	3.52%	+14.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.04%	5.82%	+12.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	5.82%	+12.22%

TMED vs. THYF - Expense Ratio Comparison

TMED has a 0.44% expense ratio, which is lower than THYF's 0.56% expense ratio.

Dividends

TMED vs. THYF - Dividend Comparison

TMED's dividend yield for the trailing twelve months is around 0.52%, less than THYF's 7.02% yield.

Position	TTM	2025	2024	2023	2022
THYF T. Rowe Price U.S. High Yield ETF	7.02%	7.17%	7.30%	8.02%	1.50%
TMED T. Rowe Price Health Care ETF	0.52%	0.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMED and THYF in my portfolio?

TMED and THYF have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMED or THYF?

On fees, TMED is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMED or THYF?

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

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

THYF has the higher dividend yield at 7.02%, compared with 0.52% for TMED.

What is the main difference between TMED and THYF?

TMED is categorized as Health & Biotech Equities, while THYF is High Yield Bonds. Their fees differ too: 0.44% for TMED and 0.56% for THYF.