Western Asset High Yield Opportunity Fund Inc (HYI) 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 HYI. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to HYI
HYI charges 0.02% annually. No mutual funds in the High Yield Bonds category have lower expense ratios; the lowest-cost alternatives shown here go as low as 0.02%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset High Income Opportunity Fund Inc | 0.02% | — | Jan 2009 | HYI vs HIO | |
| Western Asset Global High Income Fund Inc | 0.02% | — | Jan 2010 | HYI vs EHI | |
| PGIM High Yield Bond Fund | 0.02% | — | Apr 2012 | HYI vs ISD | |
| Nuveen Floating Rate Income Fund | 0.02% | — | Mar 2004 | HYI vs JFR | |
| First Trust High Yield Opportunities 2027 Term Fun... | 0.02% | — | Jun 2020 | HYI vs FTHY |
Best Risk-Adjusted Alternatives to HYI
HYI has a PortfoliosLab risk / return rank of 2. There are 199 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 | HYI vs XILSX | |
| Cliffwater Corporate Lending Fund | 100 | — | Mar 2019 | HYI vs CCLFX | |
| RiverPark Short Term High Yield Fund | 99 | — | Sep 2010 | HYI vs RPHIX | |
| Chartwell Short Duration High Yield Fund | 96 | — | Jul 2014 | HYI vs CWFIX | |
| Penn Capital Short Duration High Income Fund | 96 | — | Jul 2017 | HYI vs PSHNX |
Top Performing HYI Alternatives (YTD)
HYI is at -0.93% YTD. There are 193 mutual funds in the High Yield Bonds category with higher YTD returns, going as high as 8.39%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Pioneer ILS Interval Fund | 8.39% | — | Dec 2014 | HYI vs XILSX | |
| Fairholme Focused Income Fund | 7.76% | — | Dec 2009 | HYI vs FOCIX | |
| RiverNorth Capital and Income Fund | 7.50% | — | — | HYI vs RSF | |
| Fidelity Capital & Income Fund | 7.39% | — | Nov 1977 | HYI vs FAGIX | |
| Fidelity Advisor High Income Advantage Fund Class ... | 6.77% | — | Oct 2018 | HYI vs FIQTX |
Lowest Volatility Alternatives to HYI
HYI has 6.92% 1-year volatility. There are 182 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 | |
|---|---|---|---|---|---|
| Cliffwater Corporate Lending Fund | 0.88% | — | Mar 2019 | HYI vs CCLFX | |
| RiverPark Short Term High Yield Fund | 0.88% | — | Sep 2010 | HYI vs RPHIX | |
| Chartwell Short Duration High Yield Fund | 1.51% | — | Jul 2014 | HYI vs CWFIX | |
| Shenkman Capital Short Duration High Income Fund | 1.64% | — | Oct 2012 | HYI vs SCFIX | |
| Osterweis Strategic Income Fund | 1.70% | — | Aug 2002 | HYI vs OSTIX |
Lowest Drawdown Alternatives to HYI
HYI has a 1-year max drawdown of -8.19%. There are 188 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 | HYI vs RPHIX | |
| Cliffwater Corporate Lending Fund | -0.19% | — | Mar 2019 | HYI vs CCLFX | |
| Pioneer ILS Interval Fund | -0.21% | — | Dec 2014 | HYI vs XILSX | |
| MainStay MacKay Short Duration High Yield Fund | -1.06% | — | Dec 2012 | HYI vs MDHVX | |
| Shenkman Capital Short Duration High Income Fund | -1.11% | — | Oct 2012 | HYI vs SCFIX |
Other Mutual Funds from Franklin Templeton
The 10 most viewed Franklin Templeton mutual funds shown here include FKDNX, FKRCX, FKINX and span 8 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Franklin DynaTech Fund | Large Cap Growth Equities, Technology Equities | 13 | 6.31% | — | Jan 1968 | HYI vs FKDNX | |
| Franklin Gold and Precious Metals Fund | Gold, Precious Metals | 28 | -6.87% | — | May 1969 | HYI vs FKRCX | |
| Franklin Income Fund Class A1 | Diversified Portfolio | 79 | 4.34% | — | — | HYI vs FKINX | |
| Franklin Growth Fund | Large Cap Growth Equities | 19 | 3.19% | — | Apr 1948 | HYI vs FKGRX | |
| ClearBridge Energy Midstream Opportunity Fund | MLPs, Energy Equities | 19 | 14.74% | — | Jun 2011 | HYI vs EMO | |
| Franklin Rising Dividends Fund | Large Cap Blend Equities | 26 | 4.40% | — | Jan 1987 | HYI vs FRDPX | |
| ClearBridge Large Cap Growth Fund | Large Cap Growth Equities | 5 | -0.39% | — | Aug 1997 | HYI vs SBLGX | |
| ClearBridge Aggressive Growth Fund | Large Cap Blend Equities | 6 | 0.49% | — | Oct 1983 | HYI vs SHRAX | |
| Franklin Income Fund Advisor Class | Diversified Portfolio | 89 | 4.88% | — | Aug 1997 | HYI vs FRIAX | |
| ClearBridge Appreciation Fund | Large Cap Blend Equities | 24 | 3.19% | — | Mar 1970 | HYI vs SHAPX |
Often Compared With HYI
Investors most often compare HYI with GHY, DHF, SDHY. These 17 comparison targets span 1 categories, based on PortfoliosLab usage data.
Compare HYI with Any Fund or Stock
Compare HYI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair HYI with funds that move differently
Western Asset High Yield Opportunity Fund Inc alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HYI.
Explore HYI Diversifiers