Western Asset High Yield Fund (WAHYX)

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Western Asset High Yield Fund (WAHYX) is up 1.1% since the beginning of the year. WAHYX is currently trading at $7 per share. Investors who bought $1,000 worth of WAHYX shares 5 years ago would now be looking at an investment worth $1,142.

Western Asset High Yield Fund (WAHYX) has returned 1.12% so far this year and 5.06% over the past 12 months. Over the last ten years, WAHYX has returned 4.68% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.

Based on dividend-adjusted daily data since Sep 28, 2001, WAHYX's average daily return is +0.02%, while the average monthly return is +0.52%. At this rate, an investment would double in approximately 11.1 years.

Historically, 68% of months were positive and 32% were negative. The best month was Apr 2009 with a return of +11.2%, while the worst month was Oct 2008 at -16.7%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.

On a daily basis, WAHYX closed higher 44% of trading days. The best single day was Mar 26, 2020 with a return of +3.8%, while the worst single day was Oct 10, 2008 at -4.3%.

Western Asset High Yield Fund has an annualized alpha of 5.06%, beta of 0.11, and R2 of 0.15 versus S&P 500 Index. Calculated based on daily prices since September 28, 2001.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (44.03%) than losses (41.68%) - typical of diversified or defensive assets.
• Beta of 0.11 may look defensive, but with R2 of 0.15 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 0.15 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.

WAHYX has an expense ratio of 0.81%, placing it in the medium range.

WAHYX ranks 66 for risk / return — above 66% of mutual funds peers on PortfoliosLab. Its historical combined result is above most peers.

Western Asset High Yield Fund provided a 6.48% dividend yield over the last twelve months, with an annual payout of $0.44 per share.

The table displays the monthly dividend distributions for Western Asset High Yield Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Western Asset 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 Western Asset High Yield Fund was 38.56%, occurring on Dec 12, 2008. Recovery took 215 trading sessions.

The current Western Asset High Yield Fund drawdown is 0.87%.

The chart below shows the rolling one-month volatility.