FHAIX vs. VGLT
FHAIX (Franklin High Income Fund) and VGLT (Vanguard Long-Term Treasury ETF) are both funds - FHAIX is a High Yield Bonds fund managed by Franklin Templeton, while VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Over the past 10 years, FHAIX returned 5.51%/yr vs -1.80%/yr for VGLT. Their -0.02 correlation means they have often moved in opposite directions in the past. FHAIX charges 0.77%/yr vs 0.03%/yr for VGLT.
Performance
FHAIX vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, FHAIX achieves a 0.86% return, which is significantly higher than VGLT's -3.26% return. Over the past 10 years, FHAIX has outperformed VGLT with an annualized return of 5.51%, while VGLT has yielded a comparatively lower -1.80% annualized return.
FHAIX
- 1D
- 0.00%
- 1M
- -0.60%
- 6M
- 0.35%
- YTD
- 0.86%
- 1Y
- 4.76%
- 3Y*
- 7.50%
- 5Y*
- 3.99%
- 10Y*
- 5.51%
- ALL TIME*
- 5.98%
VGLT
- 1D
- -0.62%
- 1M
- -3.51%
- 6M
- -3.14%
- YTD
- -3.26%
- 1Y
- -1.67%
- 3Y*
- -0.62%
- 5Y*
- -7.07%
- 10Y*
- -1.80%
- ALL TIME*
- 2.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $95.69M | $98.86M | $108.97M |
FHAIX vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHAIX Franklin High Income Fund | 0.86% | 7.28% | 7.83% | 13.84% | -9.29% | 5.77% | 6.76% | 14.29% | -3.19% | 6.73% |
VGLT Vanguard Long-Term Treasury ETF | -3.26% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
Correlation
The correlation between FHAIX and VGLT is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.27 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | -0.02 |
The correlation between FHAIX and VGLT shifts across timeframes, from -0.02 (all time) to 0.30 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FHAIX vs. VGLT — Risk / Return Rank
FHAIX
VGLT
FHAIX vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin High Income Fund (FHAIX) and Vanguard Long-Term Treasury ETF (VGLT). 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.
| FHAIX | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.00 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | -0.05 | +1.74 |
| Martin ratioReturn relative to average drawdown | 8.08 | -0.12 | +8.20 |
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Drawdowns
FHAIX vs. VGLT - Drawdown Comparison
The maximum FHAIX drawdown since its inception was -31.52%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for FHAIX and VGLT.
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Drawdown Indicators
| FHAIX | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.52% | -46.18% | +14.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -7.03% | +4.19% |
Max Drawdown (3Y)Largest decline over 3 years | -4.55% | -13.38% | +8.83% |
Max Drawdown (5Y)Largest decline over 5 years | -14.32% | -40.98% | +26.66% |
Max Drawdown (10Y)Largest decline over 10 years | -19.49% | -46.18% | +26.69% |
Current DrawdownCurrent decline from peak | -0.65% | -38.64% | +37.99% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -15.26% | +12.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 3.19% | -2.60% |
Volatility
FHAIX vs. VGLT - Volatility Comparison
The current volatility for Franklin High Income Fund (FHAIX) is 1.17%, while Vanguard Long-Term Treasury ETF (VGLT) has a volatility of 2.24%. This indicates that FHAIX experiences smaller price fluctuations and is considered to be less risky than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHAIX | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 2.24% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.55% | 6.31% | -2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.52% | 8.47% | -3.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.85% | 14.45% | -8.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.20% | 13.75% | -7.55% |
FHAIX vs. VGLT - Expense Ratio Comparison
FHAIX has a 0.77% expense ratio, which is higher than VGLT's 0.03% expense ratio.
Dividends
FHAIX vs. VGLT - Dividend Comparison
FHAIX's dividend yield for the trailing twelve months is around 5.90%, more than VGLT's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHAIX Franklin High Income Fund | 5.90% | 4.71% | 6.37% | 6.09% | 5.97% | 5.63% | 5.19% | 5.45% | 5.99% | 5.49% | 5.84% | 7.19% |
VGLT Vanguard Long-Term Treasury ETF | 4.37% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
FHAIX and VGLT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.24%) compared to FHAIX (1.17%). In terms of maximum drawdown, FHAIX dropped -31.52% vs VGLT's -46.18%.
FHAIX currently has the higher Sharpe Ratio (1.07 vs -0.04), 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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