VWEHX vs. PRCPX
Compare and contrast key facts about Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) and T. Rowe Price Credit Opportunities Fund (PRCPX).
VWEHX is managed by Vanguard. It was launched on Dec 27, 1978. 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
VWEHX vs. PRCPX - Performance Comparison
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VWEHX vs. PRCPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWEHX Vanguard High-Yield Corporate Fund Investor Shares | -1.15% | 9.38% | 6.33% | 11.66% | -9.04% | 2.97% | 5.30% | 15.81% | -2.93% | 7.05% |
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, VWEHX achieves a -1.15% return, which is significantly lower than PRCPX's 0.37% return. Over the past 10 years, VWEHX has underperformed PRCPX with an annualized return of 5.18%, while PRCPX has yielded a comparatively higher 6.88% annualized return.
VWEHX
- 1D
- 0.55%
- 1M
- -1.62%
- YTD
- -1.15%
- 6M
- 0.56%
- 1Y
- 6.47%
- 3Y*
- 7.55%
- 5Y*
- 3.89%
- 10Y*
- 5.18%
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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VWEHX vs. PRCPX - Expense Ratio Comparison
VWEHX has a 0.23% expense ratio, which is lower than PRCPX's 0.81% expense ratio.
Return for Risk
VWEHX vs. PRCPX — Risk / Return Rank
VWEHX
PRCPX
VWEHX vs. PRCPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) 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.
| VWEHX | PRCPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.90 | 3.49 | -1.59 |
Sortino ratioReturn per unit of downside risk | 2.86 | 5.55 | -2.69 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.93 | -0.47 |
Calmar ratioReturn relative to maximum drawdown | 2.79 | 4.86 | -2.08 |
Martin ratioReturn relative to average drawdown | 11.37 | 22.46 | -11.10 |
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
| VWEHX | PRCPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.90 | 3.49 | -1.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 1.24 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.99 | 1.27 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.88 | -0.02 |
Correlation
The correlation between VWEHX and PRCPX is 0.80, 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
VWEHX vs. PRCPX - Dividend Comparison
VWEHX's dividend yield for the trailing twelve months is around 5.78%, less than PRCPX's 12.83% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWEHX Vanguard High-Yield Corporate Fund Investor Shares | 5.78% | 6.15% | 6.11% | 5.68% | 5.11% | 3.43% | 4.62% | 5.24% | 5.94% | 5.29% | 5.41% | 6.42% |
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
VWEHX vs. PRCPX - Drawdown Comparison
The maximum VWEHX drawdown since its inception was -30.17%, which is greater than PRCPX's maximum drawdown of -23.07%. Use the drawdown chart below to compare losses from any high point for VWEHX and PRCPX.
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Drawdown Indicators
| VWEHX | PRCPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.17% | -23.07% | -7.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -3.03% | +0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -13.83% | -14.34% | +0.51% |
Max Drawdown (10Y)Largest decline over 10 years | -19.69% | -23.07% | +3.38% |
Current DrawdownCurrent decline from peak | -1.80% | -1.24% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -3.16% | -1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 0.66% | -0.04% |
Volatility
VWEHX vs. PRCPX - Volatility Comparison
Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) has a higher volatility of 1.39% compared to T. Rowe Price Credit Opportunities Fund (PRCPX) at 1.24%. This indicates that VWEHX'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
| VWEHX | PRCPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.24% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 2.48% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.45% | 4.12% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 4.79% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 5.45% | -0.19% |