FISEX vs. VHYAX
FISEX (Franklin Equity Income Fund) and VHYAX (Vanguard High Dividend Yield Index Fund Admiral Shares) are both mutual funds - FISEX is a Dividend fund managed by Franklin Templeton, while VHYAX is a Large Cap Value Equities fund tracking the FTSE High Dividend Yield Index. Over the past 5 years, FISEX returned 11.30%/yr vs 12.16%/yr for VHYAX. Their 0.95 correlation means they have historically moved very closely together. FISEX charges 0.85%/yr vs 0.08%/yr for VHYAX.
Performance
FISEX vs. VHYAX - Performance Comparison
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Returns By Period
In the year-to-date period, FISEX achieves a 12.76% return, which is significantly lower than VHYAX's 14.17% return.
FISEX
- 1D
- 0.95%
- 1M
- 1.98%
- 6M
- 8.61%
- YTD
- 12.76%
- 1Y
- 22.04%
- 3Y*
- 16.54%
- 5Y*
- 11.30%
- 10Y*
- 11.72%
- ALL TIME*
- 9.05%
VHYAX
- 1D
- 0.18%
- 1M
- 1.48%
- 6M
- 9.25%
- YTD
- 14.17%
- 1Y
- 24.78%
- 3Y*
- 16.81%
- 5Y*
- 12.16%
- 10Y*
- —
- ALL TIME*
- 12.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FISEX vs. VHYAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FISEX Franklin Equity Income Fund | 12.76% | 17.05% | 18.11% | 9.04% | -6.88% | 25.42% | 5.53% | 17.06% |
VHYAX Vanguard High Dividend Yield Index Fund Admiral Shares | 14.17% | 15.39% | 17.39% | 6.68% | -0.45% | 26.08% | 1.06% | 16.67% |
Correlation
The correlation between FISEX and VHYAX is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.95 |
The correlation between FISEX and VHYAX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
FISEX vs. VHYAX — Risk / Return Rank
FISEX
VHYAX
FISEX vs. VHYAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Equity Income Fund (FISEX) and Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX). 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.
| FISEX | VHYAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.39 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 3.31 | -0.22 |
| Martin ratioReturn relative to average drawdown | 12.17 | 12.56 | -0.39 |
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Drawdowns
FISEX vs. VHYAX - Drawdown Comparison
The maximum FISEX drawdown since its inception was -56.54%, which is greater than VHYAX's maximum drawdown of -35.14%. Use the drawdown chart below to compare losses from any high point for FISEX and VHYAX.
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Drawdown Indicators
| FISEX | VHYAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.54% | -35.14% | -21.40% |
Max Drawdown (1Y)Largest decline over 1 year | -6.41% | -6.75% | +0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -16.18% | -14.42% | -1.76% |
Max Drawdown (5Y)Largest decline over 5 years | -18.66% | -15.87% | -2.79% |
Max Drawdown (10Y)Largest decline over 10 years | -32.97% | — | — |
Current DrawdownCurrent decline from peak | -0.38% | -1.13% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -6.42% | -3.71% | -2.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.79% | -0.16% |
Volatility
FISEX vs. VHYAX - Volatility Comparison
Franklin Equity Income Fund (FISEX) has a higher volatility of 2.66% compared to Vanguard High Dividend Yield Index Fund Admiral Shares (VHYAX) at 2.45%. This indicates that FISEX's price experiences larger fluctuations and is considered to be riskier than VHYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FISEX | VHYAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 2.45% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 7.40% | 7.48% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.91% | 10.37% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.54% | 13.91% | +0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.11% | 17.82% | -1.71% |
FISEX vs. VHYAX - Expense Ratio Comparison
FISEX has a 0.85% expense ratio, which is higher than VHYAX's 0.08% expense ratio.
Dividends
FISEX vs. VHYAX - Dividend Comparison
FISEX's dividend yield for the trailing twelve months is around 8.78%, more than VHYAX's 2.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FISEX Franklin Equity Income Fund | 8.78% | 10.11% | 10.50% | 4.22% | 5.60% | 7.19% | 3.05% | 5.00% | 6.99% | 4.81% | 6.45% | 5.38% |
VHYAX Vanguard High Dividend Yield Index Fund Admiral Shares | 2.22% | 2.42% | 2.72% | 3.09% | 2.98% | 2.74% | 3.16% | 3.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, FISEX and VHYAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FISEX has higher volatility (2.66%) compared to VHYAX (2.45%). In terms of maximum drawdown, FISEX dropped -56.54% vs VHYAX's -35.14%.
VHYAX currently has the higher Sharpe Ratio (2.16 vs 2.00), 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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