EIFAX vs. HYHG
Compare and contrast key facts about Eaton Vance Floating-Rate Advantage Fund (EIFAX) and ProShares High Yield-Interest Rate Hedged (HYHG).
EIFAX is managed by Eaton Vance. It was launched on Mar 16, 2008. HYHG is a passively managed fund by ProShares that tracks the performance of the Citi High Yield (Treasury Rate-Hedged) Index. It was launched on May 21, 2013.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EIFAX or HYHG.
Key characteristics
| EIFAX | HYHG | |
|---|---|---|
| YTD Return | 7.43% | 10.28% |
| 1Y Return | 11.07% | 14.09% |
| 3Y Return (Ann) | 6.21% | 7.74% |
| 5Y Return (Ann) | 5.65% | 6.15% |
| 10Y Return (Ann) | 5.01% | 4.34% |
| Sharpe Ratio | 3.69 | 2.36 |
| Sortino Ratio | 10.79 | 3.55 |
| Omega Ratio | 3.20 | 1.52 |
| Calmar Ratio | 13.85 | 4.15 |
| Martin Ratio | 62.31 | 21.37 |
| Ulcer Index | 0.18% | 0.62% |
| Daily Std Dev | 3.00% | 5.62% |
| Max Drawdown | -38.15% | -25.72% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between EIFAX and HYHG is 0.28, 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
EIFAX vs. HYHG - Performance Comparison
In the year-to-date period, EIFAX achieves a 7.43% return, which is significantly lower than HYHG's 10.28% return. Over the past 10 years, EIFAX has outperformed HYHG with an annualized return of 5.01%, while HYHG has yielded a comparatively lower 4.34% 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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EIFAX vs. HYHG - Expense Ratio Comparison
EIFAX has a 0.47% expense ratio, which is lower than HYHG's 0.50% expense ratio.
Risk-Adjusted Performance
EIFAX vs. HYHG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Floating-Rate Advantage Fund (EIFAX) and ProShares High Yield-Interest Rate Hedged (HYHG). 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
EIFAX vs. HYHG - Dividend Comparison
EIFAX's dividend yield for the trailing twelve months is around 9.47%, more than HYHG's 6.56% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIFAX Eaton Vance Floating-Rate Advantage Fund | 9.47% | 9.33% | 5.92% | 4.03% | 4.52% | 5.58% | 5.10% | 4.46% | 5.03% | 5.29% | 4.79% | 4.82% |
HYHG ProShares High Yield-Interest Rate Hedged | 6.56% | 6.06% | 5.58% | 4.54% | 5.20% | 6.07% | 6.45% | 5.57% | 5.37% | 6.37% | 5.51% | 3.02% |
Drawdowns
EIFAX vs. HYHG - Drawdown Comparison
The maximum EIFAX drawdown since its inception was -38.15%, which is greater than HYHG's maximum drawdown of -25.72%. Use the drawdown chart below to compare losses from any high point for EIFAX and HYHG. For additional features, visit the drawdowns tool.
Volatility
EIFAX vs. HYHG - Volatility Comparison
The current volatility for Eaton Vance Floating-Rate Advantage Fund (EIFAX) is 0.63%, while ProShares High Yield-Interest Rate Hedged (HYHG) has a volatility of 0.97%. This indicates that EIFAX experiences smaller price fluctuations and is considered to be less risky than HYHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.