FDHIX vs. PYFRX
Compare and contrast key facts about First Trust Short Duration High Income Fund (FDHIX) and Payden Floating Rate Fund (PYFRX).
FDHIX is managed by First Trust. It was launched on Oct 31, 2012. PYFRX is managed by Paydenfunds. It was launched on Nov 10, 2013.
Performance
FDHIX vs. PYFRX - Performance Comparison
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FDHIX vs. PYFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDHIX First Trust Short Duration High Income Fund | -2.99% | 7.31% | 7.09% | 10.41% | -5.22% | 3.56% | 3.66% | 9.62% | -0.63% | 4.34% |
PYFRX Payden Floating Rate Fund | -0.31% | 6.61% | 8.90% | 12.86% | 0.27% | 3.93% | 1.72% | 8.49% | 0.31% | 2.82% |
Returns By Period
In the year-to-date period, FDHIX achieves a -2.99% return, which is significantly lower than PYFRX's -0.31% return. Over the past 10 years, FDHIX has underperformed PYFRX with an annualized return of 4.25%, while PYFRX has yielded a comparatively higher 5.01% annualized return.
FDHIX
- 1D
- 0.11%
- 1M
- -1.90%
- YTD
- -2.99%
- 6M
- -1.42%
- 1Y
- 3.53%
- 3Y*
- 6.19%
- 5Y*
- 3.58%
- 10Y*
- 4.25%
PYFRX
- 1D
- 0.04%
- 1M
- 0.14%
- YTD
- -0.31%
- 6M
- 1.29%
- 1Y
- 5.59%
- 3Y*
- 8.14%
- 5Y*
- 6.11%
- 10Y*
- 5.01%
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FDHIX vs. PYFRX - Expense Ratio Comparison
FDHIX has a 1.01% expense ratio, which is higher than PYFRX's 0.70% expense ratio.
Return for Risk
FDHIX vs. PYFRX — Risk / Return Rank
FDHIX
PYFRX
FDHIX vs. PYFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Short Duration High Income Fund (FDHIX) and Payden Floating Rate Fund (PYFRX). 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.
| FDHIX | PYFRX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.39 | 2.70 | -1.31 |
Sortino ratioReturn per unit of downside risk | 2.07 | 3.51 | -1.44 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.88 | -0.56 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 2.26 | -1.14 |
Martin ratioReturn relative to average drawdown | 4.77 | 10.65 | -5.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FDHIX | PYFRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 2.70 | -1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.11 | 3.17 | -2.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.96 | 1.39 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.00 | 1.36 | -0.36 |
Correlation
The correlation between FDHIX and PYFRX is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FDHIX vs. PYFRX - Dividend Comparison
FDHIX's dividend yield for the trailing twelve months is around 5.31%, less than PYFRX's 7.23% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDHIX First Trust Short Duration High Income Fund | 5.31% | 6.34% | 7.99% | 6.76% | 4.86% | 3.51% | 4.09% | 4.57% | 4.94% | 4.83% | 4.81% | 4.59% |
PYFRX Payden Floating Rate Fund | 7.23% | 7.55% | 8.88% | 8.35% | 5.08% | 2.94% | 3.19% | 4.45% | 4.22% | 3.30% | 3.53% | 3.17% |
Drawdowns
FDHIX vs. PYFRX - Drawdown Comparison
The maximum FDHIX drawdown since its inception was -20.32%, roughly equal to the maximum PYFRX drawdown of -20.18%. Use the drawdown chart below to compare losses from any high point for FDHIX and PYFRX.
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Drawdown Indicators
| FDHIX | PYFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.32% | -20.18% | -0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -2.18% | -1.03% |
Max Drawdown (5Y)Largest decline over 5 years | -9.09% | -4.80% | -4.29% |
Max Drawdown (10Y)Largest decline over 10 years | -20.32% | -20.18% | -0.14% |
Current DrawdownCurrent decline from peak | -3.10% | -0.62% | -2.48% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -0.60% | -0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.51% | +0.24% |
Volatility
FDHIX vs. PYFRX - Volatility Comparison
First Trust Short Duration High Income Fund (FDHIX) has a higher volatility of 1.22% compared to Payden Floating Rate Fund (PYFRX) at 0.67%. This indicates that FDHIX's price experiences larger fluctuations and is considered to be riskier than PYFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDHIX | PYFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 0.67% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 1.97% | 0.96% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 2.04% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.26% | 1.94% | +1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 3.62% | +0.86% |