TURF vs. THYF

Last updated Jun 25, 2026

TURF (T. Rowe Price Natural Resources ETF) and THYF (T. Rowe Price U.S. High Yield ETF) are both exchange-traded funds - TURF is a Natural Resources fund managed by T. Rowe Price, while THYF is a High Yield Bonds fund actively managed by T. Rowe Price. Over the past year, TURF returned 25.54% vs 6.18% for THYF. At a 0.32 correlation, their price movements are largely independent. TURF charges 0.44%/yr vs 0.56%/yr for THYF.

Performance

TURF vs. THYF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Natural Resources ETF (TURF) 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, TURF achieves a 6.67% return, which is significantly higher than THYF's 1.96% return.

TURF

• 1D: -2.13%
• 1M: -9.62%
• YTD: 6.67%
• 6M: 6.34%
• 1Y: 25.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

THYF

• 1D: 0.12%
• 1M: 0.62%
• YTD: 1.96%
• 6M: 2.03%
• 1Y: 6.18%
• 3Y*: 8.61%
• 5Y*: —
• 10Y*: —

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

TURF vs. THYF - Yearly Performance Comparison

	2026 (YTD)	2025
TURF T. Rowe Price Natural Resources ETF	6.67%	17.82%
THYF T. Rowe Price U.S. High Yield ETF	1.96%	4.99%

Correlation

The correlation between TURF and THYF is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.32

Return for Risk

TURF vs. THYF — Risk / Return Rank

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

TURF

TURF Risk / Return Rank: 49
TURF Sharpe Ratio Rank: 49
TURF Sortino Ratio Rank: 45
TURF Omega Ratio Rank: 46
TURF Calmar Ratio Rank: 45
TURF Martin Ratio Rank: 58

THYF

THYF Risk / Return Rank: 60
THYF Sharpe Ratio Rank: 59
THYF Sortino Ratio Rank: 66
THYF Omega Ratio Rank: 63
THYF Calmar Ratio Rank: 50
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.

TURF vs. THYF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Natural Resources ETF (TURF) 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.

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.

	TURF	THYF	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.75	-0.27
Sortino ratio: Return per unit of downside risk	1.99	2.67	-0.68
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.07
Calmar ratio: Return relative to maximum drawdown	1.97	2.21	-0.25
Martin ratio: Return relative to average drawdown	9.02	10.05	-1.03

TURF vs. THYF - Sharpe Ratio Comparison

The current TURF Sharpe Ratio is 1.48, which is comparable to the THYF Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of TURF and THYF, 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

TURF vs. THYF - Drawdown Comparison

The maximum TURF drawdown since its inception was -13.04%, which is greater than THYF's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for TURF and THYF.

Drawdown Indicators

	TURF	THYF	Difference
Max Drawdown Largest peak-to-trough decline	-13.04%	-5.24%	-7.80%
Max Drawdown (1Y) Largest decline over 1 year	-13.04%	-2.80%	-10.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.07%	—
Current Drawdown Current decline from peak	-13.04%	-0.23%	-12.81%
Average Drawdown Average peak-to-trough decline	-1.88%	-0.81%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	0.62%	+2.22%

Volatility

TURF vs. THYF - Volatility Comparison

T. Rowe Price Natural Resources ETF (TURF) has a higher volatility of 6.35% compared to T. Rowe Price U.S. High Yield ETF (THYF) at 0.96%. This indicates that TURF's price experiences larger fluctuations and is considered to be riskier than THYF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TURF	THYF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.35%	0.96%	+5.39%
Volatility (6M) Calculated over the trailing 6-month period	14.22%	2.77%	+11.45%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	3.54%	+13.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.20%	5.79%	+11.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.20%	5.79%	+11.41%

TURF vs. THYF - Expense Ratio Comparison

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

Dividends

TURF vs. THYF - Dividend Comparison

TURF's dividend yield for the trailing twelve months is around 1.40%, less than THYF's 6.99% yield.

Position	TTM	2025	2024	2023	2022
THYF T. Rowe Price U.S. High Yield ETF	6.99%	7.17%	7.30%	8.02%	1.50%
TURF T. Rowe Price Natural Resources ETF	1.40%	1.49%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TURF and THYF in my portfolio?

TURF and THYF have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TURF or THYF?

TURF has higher volatility (6.35%) compared to THYF (0.96%). In terms of maximum drawdown, TURF dropped -13.04% vs THYF's -5.24%.

Which ETF is better, TURF or THYF?

On 1-year performance, TURF leads with 25.54% vs 6.18% for THYF. On fees, TURF is cheaper at 0.44% per year. On volatility, THYF has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TURF or THYF?

Over the 1-year period, TURF has performed better with a 25.54% return vs 6.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TURF or THYF?

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

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

THYF has the higher dividend yield at 6.99%, compared with 1.40% for TURF.

What is the main difference between TURF and THYF?

TURF is categorized as Natural Resources, while THYF is High Yield Bonds. Their fees differ too: 0.44% for TURF and 0.56% for THYF.

Which has better risk-adjusted returns?

THYF currently has the higher Sharpe Ratio (1.75 vs 1.48), 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.