BCAAX vs. BGHSX
BCAAX (BrandywineGLOBAL - Corporate Credit Fund) and BGHSX (BrandywineGLOBAL - High Yield Fund) are both High Yield Bonds funds from Franklin Templeton. Over the past 3 years, BCAAX returned 6.35%/yr vs 6.94%/yr for BGHSX. Their correlation of 0.93 means they have usually moved in the same direction. BCAAX charges 0.86%/yr vs 0.54%/yr for BGHSX.
Performance
BCAAX vs. BGHSX - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with BCAAX at -0.16% and BGHSX at -0.16%.
BCAAX
- 1D
- 0.00%
- 1M
- -0.77%
- 6M
- -0.18%
- YTD
- -0.16%
- 1Y
- 2.63%
- 3Y*
- 6.35%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.15%
BGHSX
- 1D
- 0.10%
- 1M
- -0.70%
- 6M
- -0.10%
- YTD
- -0.16%
- 1Y
- 2.97%
- 3Y*
- 6.94%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BCAAX vs. BGHSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BCAAX BrandywineGLOBAL - Corporate Credit Fund | -0.16% | 5.27% | 8.92% | 11.47% | -9.47% | 1.04% |
BGHSX BrandywineGLOBAL - High Yield Fund | -0.16% | 5.55% | 9.90% | 13.21% | -10.23% | 1.12% |
Correlation
The correlation between BCAAX and BGHSX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2021 | 0.93 |
The correlation between BCAAX and BGHSX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
BCAAX vs. BGHSX — Risk / Return Rank
BCAAX
BGHSX
BCAAX vs. BGHSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL - Corporate Credit Fund (BCAAX) and BrandywineGLOBAL - High Yield Fund (BGHSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| BCAAX | BGHSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.23 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 1.27 | -0.02 |
| Martin ratioReturn relative to average drawdown | 5.28 | 5.11 | +0.17 |
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Drawdowns
BCAAX vs. BGHSX - Drawdown Comparison
The maximum BCAAX drawdown since its inception was -13.21%, smaller than the maximum BGHSX drawdown of -14.30%. Use the drawdown chart below to compare losses from any high point for BCAAX and BGHSX.
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Drawdown Indicators
| BCAAX | BGHSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.21% | -14.30% | +1.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.48% | -2.67% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -3.71% | -4.55% | +0.84% |
Current DrawdownCurrent decline from peak | -0.77% | -0.70% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -2.92% | -3.14% | +0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.66% | -0.08% |
Volatility
BCAAX vs. BGHSX - Volatility Comparison
The current volatility for BrandywineGLOBAL - Corporate Credit Fund (BCAAX) is 0.51%, while BrandywineGLOBAL - High Yield Fund (BGHSX) has a volatility of 0.57%. This indicates that BCAAX experiences smaller price fluctuations and is considered to be less risky than BGHSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCAAX | BGHSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 0.57% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | 2.30% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.84% | 3.13% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.99% | 4.43% | -0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.99% | 4.43% | -0.44% |
BCAAX vs. BGHSX - Expense Ratio Comparison
BCAAX has a 0.86% expense ratio, which is higher than BGHSX's 0.54% expense ratio.
Dividends
BCAAX vs. BGHSX - Dividend Comparison
BCAAX's dividend yield for the trailing twelve months is around 5.09%, less than BGHSX's 5.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BCAAX BrandywineGLOBAL - Corporate Credit Fund | 5.09% | 6.27% | 6.87% | 4.68% | 4.99% | 3.91% |
BGHSX BrandywineGLOBAL - High Yield Fund | 5.63% | 7.08% | 7.49% | 5.23% | 5.32% | 4.71% |
Frequently Asked Questions
With a correlation of 0.91, BCAAX and BGHSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BGHSX has higher volatility (0.57%) compared to BCAAX (0.51%). In terms of maximum drawdown, BCAAX dropped -13.21% vs BGHSX's -14.30%.
BCAAX currently has the higher Sharpe Ratio (1.09 vs 1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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