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Western Asset High Income Fund II (HIX) Sharpe Ratio: 0.59

HIX's Sharpe Ratio of 0.59 indicates that for each unit of volatility, it generates 0.59 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Apr 2, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

HIX Sharpe Ratio Rank

HIX Sharpe Ratio Rank: 20.220
Below Average

HIX ranks above 20.2% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

HIX Sharpe Ratio Market Positioning

The chart shows HIX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.76 or lower
  • Yellow zone (middle 50%): 0.76 to 1.48
  • Green zone (top 25%): 1.48 or higher
  • Top 1%: 3.53+
  • Median: 1.10 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Western Asset High Income Fund II's Sharpe Ratio with other mutual funds in the High Yield Bonds category across multiple time periods, showing how HIX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Apr 2, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
XILSXPioneer ILS Interval Fund8.44
CCLFXCliffwater Corporate Lending Fund8.00
RPHIXRiverPark Short Term High Yield Fund4.37
PRFRXT. Rowe Price Floating Rate Fund3.59
PRCPXT. Rowe Price Credit Opportunities Fund3.49
CPMPXChanging Parameters Fund3.37
PRHYXT. Rowe Price High Yield Fund3.34
RPIHXT. Rowe Price Global High Income Bond Fund3.27
CWFIXChartwell Short Duration High Yield Fund3.13
FQTIXFranklin Templeton SMACS: Series I2.68
HIXWestern Asset High Income Fund II0.59

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows HIX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when HIX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Explore HIX risk-adjusted metrics in detail

Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.

HIX Sortino Ratio