DINDX vs. PGHY
Compare and contrast key facts about Morgan Stanley Global Fixed Income Opportunities Fund (DINDX) and Invesco Global Short Term High Yield Bond ETF (PGHY).
DINDX is managed by Morgan Stanley. It was launched on Jul 27, 1997. PGHY is a passively managed fund by Invesco that tracks the performance of the DB Global Short Maturity High Yield Bond Index. It was launched on Jun 20, 2013.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DINDX or PGHY.
Key characteristics
| DINDX | PGHY | |
|---|---|---|
| YTD Return | 5.90% | 8.80% |
| 1Y Return | 10.14% | 13.57% |
| 3Y Return (Ann) | 2.23% | 4.15% |
| 5Y Return (Ann) | 2.52% | 3.54% |
| 10Y Return (Ann) | 3.40% | 4.01% |
| Sharpe Ratio | 3.49 | 3.09 |
| Sortino Ratio | 5.42 | 4.73 |
| Omega Ratio | 1.79 | 1.61 |
| Calmar Ratio | 2.73 | 7.02 |
| Martin Ratio | 22.10 | 27.49 |
| Ulcer Index | 0.46% | 0.49% |
| Daily Std Dev | 2.90% | 4.37% |
| Max Drawdown | -23.00% | -20.50% |
| Current Drawdown | -0.92% | -0.63% |
Correlation
The correlation between DINDX and PGHY is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
DINDX vs. PGHY - Performance Comparison
In the year-to-date period, DINDX achieves a 5.90% return, which is significantly lower than PGHY's 8.80% return. Over the past 10 years, DINDX has underperformed PGHY with an annualized return of 3.40%, while PGHY has yielded a comparatively higher 4.01% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DINDX vs. PGHY - Expense Ratio Comparison
DINDX has a 0.56% expense ratio, which is higher than PGHY's 0.35% expense ratio.
Risk-Adjusted Performance
DINDX vs. PGHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Global Fixed Income Opportunities Fund (DINDX) and Invesco Global Short Term High Yield Bond ETF (PGHY). 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.
Dividends
DINDX vs. PGHY - Dividend Comparison
DINDX's dividend yield for the trailing twelve months is around 5.33%, less than PGHY's 7.49% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DINDX Morgan Stanley Global Fixed Income Opportunities Fund | 5.33% | 4.70% | 5.88% | 3.59% | 2.90% | 3.84% | 5.22% | 3.16% | 3.75% | 4.82% | 4.62% | 5.99% |
PGHY Invesco Global Short Term High Yield Bond ETF | 7.49% | 7.86% | 5.12% | 5.18% | 5.45% | 5.33% | 5.45% | 5.52% | 6.26% | 4.59% | 4.40% | 1.90% |
Drawdowns
DINDX vs. PGHY - Drawdown Comparison
The maximum DINDX drawdown since its inception was -23.00%, which is greater than PGHY's maximum drawdown of -20.50%. Use the drawdown chart below to compare losses from any high point for DINDX and PGHY. For additional features, visit the drawdowns tool.
Volatility
DINDX vs. PGHY - Volatility Comparison
The current volatility for Morgan Stanley Global Fixed Income Opportunities Fund (DINDX) is 0.73%, while Invesco Global Short Term High Yield Bond ETF (PGHY) has a volatility of 0.99%. This indicates that DINDX experiences smaller price fluctuations and is considered to be less risky than PGHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.