FINS vs. HIO
FINS (Angel Oak Financial Strategies Income Term Trust) and HIO (Western Asset High Income Opportunity Fund Inc) are both High Yield Bonds funds. Over the past 5 years, FINS returned 2.20%/yr vs 2.20%/yr for HIO. Their 0.30 correlation means their historical movements had little consistent relationship. FINS charges 0.03%/yr vs 0.01%/yr for HIO.
Performance
FINS vs. HIO - Performance Comparison
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Returns By Period
In the year-to-date period, FINS achieves a 0.79% return, which is significantly lower than HIO's 1.83% return.
FINS
- 1D
- -0.08%
- 1M
- -1.53%
- 6M
- -0.38%
- YTD
- 0.79%
- 1Y
- 7.01%
- 3Y*
- 13.19%
- 5Y*
- 2.20%
- 10Y*
- —
- ALL TIME*
- 2.34%
HIO
- 1D
- 0.57%
- 1M
- -2.58%
- 6M
- -0.73%
- YTD
- 1.83%
- 1Y
- 0.16%
- 3Y*
- 8.36%
- 5Y*
- 2.20%
- 10Y*
- 5.44%
- ALL TIME*
- 6.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $499.23K | $530.98K | $501.18K | |
| $1.80M | $1.29M | $1.25M |
FINS vs. HIO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FINS Angel Oak Financial Strategies Income Term Trust | 0.79% | 15.17% | 18.33% | 2.55% | -18.18% | 9.08% | -12.57% | 7.39% |
HIO Western Asset High Income Opportunity Fund Inc | 1.83% | 5.33% | 13.58% | 8.07% | -17.09% | 12.80% | 6.07% | 7.00% |
Correlation
The correlation between FINS and HIO is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.33 |
Correlation (All Time) Calculated using the full available price history since May 29, 2019 | 0.30 |
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Return for Risk
FINS vs. HIO — Risk / Return Rank
FINS
HIO
FINS vs. HIO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Angel Oak Financial Strategies Income Term Trust (FINS) and Western Asset High Income Opportunity Fund Inc (HIO). 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.
| FINS | HIO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.01 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | -0.01 | +1.19 |
| Martin ratioReturn relative to average drawdown | 4.04 | -0.03 | +4.07 |
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Drawdowns
FINS vs. HIO - Drawdown Comparison
The maximum FINS drawdown since its inception was -40.79%, smaller than the maximum HIO drawdown of -49.69%. Use the drawdown chart below to compare losses from any high point for FINS and HIO.
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Drawdown Indicators
| FINS | HIO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.79% | -49.69% | +8.90% |
Max Drawdown (1Y)Largest decline over 1 year | -5.64% | -6.70% | +1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -6.04% | -13.29% | +7.25% |
Max Drawdown (5Y)Largest decline over 5 years | -26.44% | -26.18% | -0.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.57% | — |
Current DrawdownCurrent decline from peak | -2.52% | -2.96% | +0.44% |
Average DrawdownAverage peak-to-trough decline | -12.86% | -6.44% | -6.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 3.17% | -1.53% |
Volatility
FINS vs. HIO - Volatility Comparison
The current volatility for Angel Oak Financial Strategies Income Term Trust (FINS) is 1.93%, while Western Asset High Income Opportunity Fund Inc (HIO) has a volatility of 2.76%. This indicates that FINS experiences smaller price fluctuations and is considered to be less risky than HIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FINS | HIO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.93% | 2.76% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 5.90% | 7.92% | -2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.23% | 10.47% | -2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.89% | 12.81% | -1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.71% | 15.95% | +4.76% |
FINS vs. HIO - Expense Ratio Comparison
FINS has a 0.03% expense ratio, which is higher than HIO's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FINS vs. HIO - Dividend Comparison
FINS's dividend yield for the trailing twelve months is around 11.03%, less than HIO's 12.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FINS Angel Oak Financial Strategies Income Term Trust | 11.03% | 10.13% | 10.30% | 10.04% | 9.74% | 7.63% | 7.42% | 3.41% | 0.00% | 0.00% | 0.00% | 0.00% |
HIO Western Asset High Income Opportunity Fund Inc | 12.07% | 11.48% | 10.84% | 9.90% | 9.11% | 7.02% | 7.86% | 6.91% | 7.31% | 7.04% | 8.44% | 9.08% |
Frequently Asked Questions
FINS and HIO have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIO has higher volatility (2.76%) compared to FINS (1.93%). In terms of maximum drawdown, FINS dropped -40.79% vs HIO's -49.69%.
FINS currently has the higher Sharpe Ratio (0.81 vs -0.01), 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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