Western Asset High Income Fund II (HIX) belongs to the High Yield Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with HIX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to HIX
HIX charges 3.70% annually. There are 185 mutual funds in the High Yield Bonds category with lower expense ratios, going as low as 0.02%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Federated Hermes High-Yield Strategy Portfolio | 0.02% | — | Dec 2008 | HIX vs FHYSX | |
| Vanguard High-Yield Corporate Fund Admiral Shares | 0.13% | 25.70B | Nov 2001 | HIX vs VWEAX | |
| PIA High Yield (MACS) Fund | 0.20% | — | Dec 2017 | HIX vs PIAMX | |
| Vanguard High-Yield Corporate Fund Investor Shares | 0.23% | 25.70B | Dec 1978 | HIX vs VWEHX | |
| Six Circles Credit Opportunities Fund | 0.29% | — | Nov 2020 | HIX vs CRDOX |
Best Risk-Adjusted Alternatives to HIX
HIX has a PortfoliosLab risk / return rank of 9. There are 182 mutual funds in the High Yield Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 100 | — | Dec 2014 | HIX vs XILSX | |
| Cliffwater Corporate Lending Fund | 100 | — | Mar 2019 | HIX vs CCLFX | |
| RiverPark Short Term High Yield Fund | 100 | — | Sep 2010 | HIX vs RPHIX | |
| Fidelity Series High Income Fund | 97 | — | Mar 2011 | HIX vs FSHNX | |
| Chartwell Short Duration High Yield Fund | 97 | — | Jul 2014 | HIX vs CWFIX |
Top Performing HIX Alternatives (YTD)
HIX is at 1.07% YTD. There are 153 mutual funds in the High Yield Bonds category with higher YTD returns, going as high as 8.43%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Fidelity Capital & Income Fund | 8.43% | — | Nov 1977 | HIX vs FAGIX | |
| Pioneer ILS Interval Fund | 7.97% | — | Dec 2014 | HIX vs XILSX | |
| Fidelity Advisor High Income Advantage Fund Class ... | 7.64% | — | Oct 2018 | HIX vs FIQTX | |
| Fidelity Advisor High Income Advantage Fund Class ... | 7.59% | — | Jul 1995 | HIX vs FAHCX | |
| Fidelity Advisor High Income Advantage Fund Class ... | 7.52% | — | Jan 1987 | HIX vs FAHYX |
Lowest Volatility Alternatives to HIX
HIX has 13.10% 1-year volatility. There are 192 mutual funds in the High Yield Bonds category with lower 1-year volatility, going as low as 0.88%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Short Term High Yield Fund | 0.88% | — | Sep 2010 | HIX vs RPHIX | |
| Cliffwater Corporate Lending Fund | 0.88% | — | Mar 2019 | HIX vs CCLFX | |
| Chartwell Short Duration High Yield Fund | 1.49% | — | Jul 2014 | HIX vs CWFIX | |
| Shenkman Capital Short Duration High Income Fund | 1.63% | — | Oct 2012 | HIX vs SCFIX | |
| Osterweis Strategic Income Fund | 1.69% | — | Aug 2002 | HIX vs OSTIX |
Lowest Drawdown Alternatives to HIX
HIX has a 1-year max drawdown of -11.07%. There are 187 mutual funds in the High Yield Bonds category with shallower 1-year drawdowns, going as shallow as -0.10%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| RiverPark Short Term High Yield Fund | -0.10% | — | Sep 2010 | HIX vs RPHIX | |
| Cliffwater Corporate Lending Fund | -0.19% | — | Mar 2019 | HIX vs CCLFX | |
| Pioneer ILS Interval Fund | -0.21% | — | Dec 2014 | HIX vs XILSX | |
| MainStay MacKay Short Duration High Yield Fund | -1.06% | — | Dec 2012 | HIX vs MDHVX | |
| Shenkman Capital Short Duration High Income Fund | -1.11% | — | Oct 2012 | HIX vs SCFIX |
Other Mutual Funds from Franklin Templeton
The 10 most viewed Franklin Templeton mutual funds shown here include FKDNX, FKRCX, FKINX and span 6 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Franklin DynaTech Fund | Large Cap Growth Equities | 23 | 13.49% | — | Jan 1968 | HIX vs FKDNX | |
| Franklin Gold and Precious Metals Fund | Precious Metals | 43 | 6.83% | — | May 1969 | HIX vs FKRCX | |
| Franklin Income Fund Class A1 | Diversified Portfolio | 87 | 5.16% | — | — | HIX vs FKINX | |
| Franklin Growth Fund | Large Cap Growth Equities | 29 | 7.09% | — | Apr 1948 | HIX vs FKGRX | |
| ClearBridge Energy Midstream Opportunity Fund | MLPs, Energy Equities | 20 | 15.80% | — | Jun 2011 | HIX vs EMO | |
| Franklin Rising Dividends Fund | Large Cap Blend Equities | 34 | 5.86% | — | Jan 1987 | HIX vs FRDPX | |
| ClearBridge Large Cap Growth Fund | Large Cap Growth Equities | 10 | 5.90% | — | Aug 1997 | HIX vs SBLGX | |
| ClearBridge Aggressive Growth Fund | Large Cap Blend Equities | 9 | 3.89% | — | Oct 1983 | HIX vs SHRAX | |
| Franklin Income Fund Advisor Class | Diversified Portfolio | 92 | 5.29% | — | Aug 1997 | HIX vs FRIAX | |
| ClearBridge Appreciation Fund | Large Cap Blend Equities | 37 | 6.04% | — | Mar 1970 | HIX vs SHAPX |
Often Compared With HIX
Investors most often compare HIX with FSCO, RCRYX, CPMPX. These 13 comparison targets span 2 categories, based on PortfoliosLab usage data.
Compare HIX with Any Fund or Stock
Compare HIX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair HIX with funds that move differently
Western Asset High Income Fund II alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HIX.
Explore HIX Diversifiers