- ISIN
- US57629E6703
- Issuer
- MassMutual
- Inception Date
- Sep 5, 2000
- Category
- High Yield Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
DLHYX Performance Chart
MassMutual High Yield Fund (DLHYX) is up 2.1% since the beginning of the year. DLHYX is currently trading at $8 per share. Investors who bought $1,000 worth of DLHYX shares 5 years ago would now be looking at an investment worth $1,180.
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Returns By Period
MassMutual High Yield Fund (DLHYX) has returned 2.14% so far this year and 7.54% over the past 12 months. Over the last ten years, DLHYX has returned 5.07% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
MassMutual High Yield Fund
- 1D
- 0.00%
- 1M
- 1.02%
- YTD
- 2.14%
- 6M
- 2.87%
- 1Y
- 7.54%
- 3Y*
- 7.65%
- 5Y*
- 3.37%
- 10Y*
- 5.07%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
DLHYX Monthly Returns History
Based on dividend-adjusted daily data since Sep 5, 2000, DLHYX's average daily return is +0.03%, while the average monthly return is +0.56%. At this rate, an investment would double in approximately 10.3 years.
Historically, 70% of months were positive and 30% were negative. The best month was Apr 2003 with a return of +6.6%, while the worst month was Oct 2008 at -12.7%. The longest winning streak lasted 21 consecutive months, and the longest losing streak was 6 months.
On a daily basis, DLHYX closed higher 47% of trading days. The best single day was Mar 26, 2020 with a return of +3.7%, while the worst single day was Dec 17, 2014 at -6.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.65% | 0.30% | -1.01% | 1.67% | 0.52% | 0.00% | 2.14% | ||||||
| 2025 | 1.35% | 0.69% | -1.23% | 0.07% | 1.76% | 1.95% | 0.56% | 1.00% | 0.86% | 0.08% | 0.39% | 0.84% | 8.61% |
| 2024 | 0.22% | 0.70% | 0.38% | -0.49% | 0.76% | 0.25% | 1.78% | 1.00% | 1.83% | -0.28% | 1.19% | -1.10% | 6.37% |
| 2023 | 4.15% | -1.04% | 0.79% | 1.01% | -1.24% | 1.72% | 1.45% | -0.26% | -1.69% | -1.98% | 4.48% | 3.50% | 11.16% |
| 2022 | -2.19% | -0.70% | -0.59% | -3.56% | -1.10% | -7.41% | 4.93% | -1.64% | -4.28% | 2.73% | 2.01% | -0.80% | -12.43% |
| 2021 | 0.45% | 0.79% | 0.56% | 1.33% | 0.44% | 1.53% | -0.00% | 0.54% | 0.54% | -0.11% | -1.07% | 2.09% | 7.29% |
Benchmark Metrics
MassMutual High Yield Fund has an annualized alpha of 5.95%, beta of 0.10, and R2 of 0.13 versus S&P 500 Index. Calculated based on daily prices since September 05, 2000.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (41.42%) than losses (30.26%) - typical of diversified or defensive assets.
- Beta of 0.10 may look defensive, but with R2 of 0.13 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.13 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 5.95%
- Beta
- 0.10
- R²
- 0.13
- Upside Capture
- 41.42%
- Downside Capture
- 30.26%
Expense Ratio
DLHYX has an expense ratio of 0.74%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DLHYX ranks 80 for risk / return — better than 80% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MassMutual High Yield Fund (DLHYX) and compare them to S&P 500 Index.
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.
| DLHYX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.37 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 2.78 | +0.38 |
| Martin ratioReturn relative to average drawdown | 15.77 | 12.44 | +3.34 |
Dividends
Dividend History
MassMutual High Yield Fund provided a 6.65% dividend yield over the last twelve months, with an annual payout of $0.54 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.54 | $0.55 | $0.34 | $0.37 | $0.35 | $0.52 | $0.46 | $0.54 | $0.50 | $0.58 | $0.55 | $0.57 |
Dividend yield | 6.65% | 6.72% | 4.14% | 4.59% | 4.64% | 5.80% | 5.20% | 6.14% | 6.02% | 6.40% | 6.14% | 6.89% |
Monthly Dividends
The table displays the monthly dividend distributions for MassMutual High Yield Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.04 | $0.04 | $0.05 | $0.05 | $0.04 | $0.00 | $0.22 | ||||||
| 2025 | $0.05 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.05 | $0.55 |
| 2024 | $0.05 | $0.05 | $0.00 | $0.05 | $0.00 | $0.00 | $0.05 | $0.00 | $0.05 | $0.05 | $0.05 | $0.00 | $0.34 |
| 2023 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.00 | $0.00 | $0.04 | $0.04 | $0.37 |
| 2022 | $0.03 | $0.04 | $0.04 | $0.04 | $0.00 | $0.00 | $0.00 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.35 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.52 | $0.52 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the MassMutual High Yield Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MassMutual High Yield Fund was 27.28%, occurring on Dec 5, 2008. Recovery took 253 trading sessions.
The current MassMutual High Yield Fund drawdown is 0.24%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -27.28%Dec 2008 | 1y 6mo | 1y 3d | 2y 6moJun 2007 - Dec 2009 |
COVID crash2020 | -22.28%Mar 2020 | 1mo 1d | 8mo 5d | 9mo 6dFeb 2020 - Nov 2020 |
Bear market2022 | -16.45%Sep 2022 | 8mo 28d | 1y 9mo | 2y 6moJan 2022 - Jul 2024 |
2016 correction2016 | -15.78%Feb 2016 | 1y 5mo | 10mo 2d | 2y 3moSep 2014 - Dec 2016 |
Dot-com crash2000–2002 | -14.65%Sep 2001 | 8mo 8d | 1y 2mo | 1y 10moJan 2001 - Dec 2002 |
Drawdown Indicators
| DLHYX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.28% | -56.78% | +29.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | -9.10% | +6.67% |
Max Drawdown (3Y)Largest decline over 3 years | -4.31% | -18.90% | +14.59% |
Max Drawdown (5Y)Largest decline over 5 years | -16.45% | -25.43% | +8.98% |
Max Drawdown (10Y)Largest decline over 10 years | -22.28% | -33.92% | +11.64% |
Current DrawdownCurrent decline from peak | -0.24% | -1.80% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -10.71% | +7.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 2.03% | -1.54% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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