DHY vs. PDT
DHY (Dimensional High Yield Equity Fund) and PDT (John Hancock Premium Dividend Fund) are both Dividend funds. Over the past 10 years, DHY returned 5.52%/yr vs 5.50%/yr for PDT. Their 0.24 correlation means their historical movements had little consistent relationship. DHY charges 0.04%/yr vs 5.06%/yr for PDT.
Performance
DHY vs. PDT - Performance Comparison
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Returns By Period
In the year-to-date period, DHY achieves a -7.21% return, which is significantly lower than PDT's 5.80% return. Both investments have delivered pretty close results over the past 10 years, with DHY having a 5.52% annualized return and PDT not far behind at 5.50%.
DHY
- 1D
- 1.16%
- 1M
- -1.36%
- 6M
- -7.92%
- YTD
- -7.21%
- 1Y
- -9.55%
- 3Y*
- 6.94%
- 5Y*
- 1.93%
- 10Y*
- 5.52%
- ALL TIME*
- 3.99%
PDT
- 1D
- -0.39%
- 1M
- -0.01%
- 6M
- 1.83%
- YTD
- 5.80%
- 1Y
- 3.47%
- 3Y*
- 14.38%
- 5Y*
- 2.46%
- 10Y*
- 5.50%
- ALL TIME*
- 6.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $920.46K | $1.49M | $1.32M | |
| $1.52M | $1.44M | $1.59M |
DHY vs. PDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DHY Dimensional High Yield Equity Fund | -7.21% | 2.19% | 18.18% | 24.13% | -21.75% | 16.99% | 0.10% | 26.18% | -16.10% | 17.06% |
PDT John Hancock Premium Dividend Fund | 5.80% | 7.64% | 29.92% | -9.55% | -16.30% | 25.98% | -14.20% | 39.29% | -12.49% | 21.22% |
Correlation
The correlation between DHY and PDT is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.34 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 1998 | 0.24 |
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Return for Risk
DHY vs. PDT — Risk / Return Rank
DHY
PDT
DHY vs. PDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional High Yield Equity Fund (DHY) and John Hancock Premium Dividend Fund (PDT). 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.
| DHY | PDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.08 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 0.65 | -1.38 |
| Martin ratioReturn relative to average drawdown | -1.38 | 1.35 | -2.74 |
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Drawdowns
DHY vs. PDT - Drawdown Comparison
The maximum DHY drawdown since its inception was -71.47%, which is greater than PDT's maximum drawdown of -62.39%. Use the drawdown chart below to compare losses from any high point for DHY and PDT.
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Drawdown Indicators
| DHY | PDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.47% | -62.39% | -9.08% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -5.38% | -7.65% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -16.91% | +3.88% |
Max Drawdown (5Y)Largest decline over 5 years | -27.23% | -40.44% | +13.21% |
Max Drawdown (10Y)Largest decline over 10 years | -41.36% | -62.39% | +21.03% |
Current DrawdownCurrent decline from peak | -10.45% | -2.30% | -8.15% |
Average DrawdownAverage peak-to-trough decline | -12.35% | -9.98% | -2.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.91% | 2.57% | +4.34% |
Volatility
DHY vs. PDT - Volatility Comparison
Dimensional High Yield Equity Fund (DHY) has a higher volatility of 5.34% compared to John Hancock Premium Dividend Fund (PDT) at 1.64%. This indicates that DHY's price experiences larger fluctuations and is considered to be riskier than PDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHY | PDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.34% | 1.64% | +3.70% |
Volatility (6M)Calculated over the trailing 6-month period | 10.94% | 6.92% | +4.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.14% | 8.89% | +4.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.37% | 16.92% | -1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.99% | 25.10% | -7.11% |
DHY vs. PDT - Expense Ratio Comparison
DHY has a 0.04% expense ratio, which is lower than PDT's 5.06% expense ratio.
Dividends
DHY vs. PDT - Dividend Comparison
DHY's dividend yield for the trailing twelve months is around 10.63%, more than PDT's 7.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DHY Dimensional High Yield Equity Fund | 10.63% | 9.30% | 8.69% | 9.39% | 10.57% | 7.61% | 8.68% | 9.02% | 11.20% | 9.40% | 10.52% | 12.63% |
PDT John Hancock Premium Dividend Fund | 7.75% | 7.80% | 7.77% | 10.14% | 9.04% | 6.42% | 8.43% | 6.70% | 8.69% | 9.94% | 9.15% | 7.88% |
Frequently Asked Questions
DHY and PDT have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DHY has higher volatility (5.34%) compared to PDT (1.64%). In terms of maximum drawdown, DHY dropped -71.47% vs PDT's -62.39%.
PDT currently has the higher Sharpe Ratio (0.39 vs -0.73), 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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