TUHIX vs. PRHYX

Last updated Jun 4, 2026

TUHIX (T. Rowe Price U.S. High Yield Fund) and PRHYX (T. Rowe Price High Yield Fund) are both High Yield Bonds funds from T. Rowe Price. Over the past 10 years, TUHIX returned 4.81%/yr vs 5.74%/yr for PRHYX. Their correlation of 0.81 suggests significant overlap in exposure. TUHIX charges 0.61%/yr vs 0.70%/yr for PRHYX.

Performance

TUHIX vs. PRHYX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with TUHIX having a 1.76% return and PRHYX slightly lower at 1.73%. Over the past 10 years, TUHIX has underperformed PRHYX with an annualized return of 4.81%, while PRHYX has yielded a comparatively higher 5.74% annualized return.

TUHIX

• 1D: 0.00%
• 1M: 0.83%
• YTD: 1.76%
• 6M: 2.51%
• 1Y: 7.60%
• 3Y*: 8.83%
• 5Y*: 2.96%
• 10Y*: 4.81%

PRHYX

• 1D: 0.00%
• 1M: 0.40%
• YTD: 1.73%
• 6M: 3.30%
• 1Y: 9.66%
• 3Y*: 10.17%
• 5Y*: 4.87%
• 10Y*: 5.74%

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

TUHIX vs. PRHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TUHIX T. Rowe Price U.S. High Yield Fund	1.76%	8.25%	8.49%	12.94%	-16.22%	5.02%	7.19%	16.18%	-3.68%	6.54%
PRHYX T. Rowe Price High Yield Fund	1.73%	11.22%	8.49%	14.83%	-12.48%	5.22%	4.99%	14.69%	-3.30%	7.40%

Correlation

The correlation between TUHIX and PRHYX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.81

The correlation between TUHIX and PRHYX has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

Return for Risk

TUHIX vs. PRHYX — Risk / Return Rank

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

TUHIX

TUHIX Risk / Return Rank: 69
TUHIX Sharpe Ratio Rank: 58
TUHIX Sortino Ratio Rank: 82
TUHIX Omega Ratio Rank: 80
TUHIX Calmar Ratio Rank: 56
TUHIX Martin Ratio Rank: 69

PRHYX

PRHYX Risk / Return Rank: 93
PRHYX Sharpe Ratio Rank: 89
PRHYX Sortino Ratio Rank: 96
PRHYX Omega Ratio Rank: 94
PRHYX Calmar Ratio Rank: 90
PRHYX Martin Ratio Rank: 95

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.

TUHIX vs. PRHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price U.S. High Yield Fund (TUHIX) and T. Rowe Price High Yield Fund (PRHYX). 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.

	TUHIX	PRHYX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.95	-0.69
Sortino ratio: Return per unit of downside risk	3.86	5.18	-1.31
Omega ratio: Gain probability vs. loss probability	1.53	1.73	-0.20
Calmar ratio: Return relative to maximum drawdown	2.87	4.55	-1.68
Martin ratio: Return relative to average drawdown	13.34	22.39	-9.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TUHIX vs. PRHYX - Sharpe Ratio Comparison

The current TUHIX Sharpe Ratio is 2.26, which is comparable to the PRHYX Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of TUHIX and PRHYX, 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

	TUHIX	PRHYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.95	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.94	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	1.04	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	1.31	-0.75

Drawdowns

TUHIX vs. PRHYX - Drawdown Comparison

The maximum TUHIX drawdown since its inception was -22.46%, smaller than the maximum PRHYX drawdown of -30.79%. Use the drawdown chart below to compare losses from any high point for TUHIX and PRHYX.

Drawdown Indicators

	TUHIX	PRHYX	Difference
Max Drawdown Largest peak-to-trough decline	-22.46%	-30.79%	+8.33%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-2.17%	-0.57%
Max Drawdown (3Y) Largest decline over 3 years	-4.41%	-3.85%	-0.56%
Max Drawdown (5Y) Largest decline over 5 years	-19.41%	-16.43%	-2.98%
Max Drawdown (10Y) Largest decline over 10 years	-22.46%	-22.10%	-0.36%
Current Drawdown Current decline from peak	0.00%	-0.17%	+0.17%
Average Drawdown Average peak-to-trough decline	-4.61%	-3.67%	-0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.44%	+0.14%

Volatility

TUHIX vs. PRHYX - Volatility Comparison

T. Rowe Price U.S. High Yield Fund (TUHIX) and T. Rowe Price High Yield Fund (PRHYX) have volatilities of 1.06% and 1.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TUHIX	PRHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	1.07%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	2.55%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	3.47%	3.35%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.09%	5.23%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.80%	5.55%	+0.25%

TUHIX vs. PRHYX - Expense Ratio Comparison

TUHIX has a 0.61% expense ratio, which is lower than PRHYX's 0.70% expense ratio.

Dividends

TUHIX vs. PRHYX - Dividend Comparison

TUHIX's dividend yield for the trailing twelve months is around 7.10%, less than PRHYX's 9.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRHYX T. Rowe Price High Yield Fund	9.10%	9.06%	8.27%	7.23%	4.68%	5.09%	5.19%	5.48%	6.25%	5.49%	6.02%	6.45%
TUHIX T. Rowe Price U.S. High Yield Fund	7.10%	7.38%	7.49%	6.31%	5.57%	6.36%	5.87%	5.81%	6.66%	4.24%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TUHIX and PRHYX in my portfolio?

TUHIX and PRHYX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TUHIX or PRHYX?

PRHYX has higher volatility (1.07%) compared to TUHIX (1.06%). In terms of maximum drawdown, TUHIX dropped -22.46% vs PRHYX's -30.79%.

Which has better risk-adjusted returns?

PRHYX currently has the higher Sharpe Ratio (2.95 vs 2.26), 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.