FTHY vs. ISD
FTHY (First Trust High Yield Opportunities 2027 Term Fund) and ISD (PGIM High Yield Bond Fund) are both High Yield Bonds funds. Over the past 5 years, FTHY returned 2.63%/yr vs 4.23%/yr for ISD. Their 0.49 correlation means their historical movements had little consistent relationship. Both charge a 0.02% expense ratio.
Performance
FTHY vs. ISD - Performance Comparison
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Returns By Period
In the year-to-date period, FTHY achieves a 3.22% return, which is significantly higher than ISD's -9.89% return.
FTHY
- 1D
- 0.22%
- 1M
- 0.29%
- 6M
- 1.51%
- YTD
- 3.22%
- 1Y
- 3.64%
- 3Y*
- 10.78%
- 5Y*
- 2.63%
- 10Y*
- —
- ALL TIME*
- 3.44%
ISD
- 1D
- -0.08%
- 1M
- -3.37%
- 6M
- -10.69%
- YTD
- -9.89%
- 1Y
- -4.69%
- 3Y*
- 10.30%
- 5Y*
- 4.23%
- 10Y*
- 6.60%
- ALL TIME*
- 5.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.02M | $1.13M | $1.23M | |
| $1.80M | $1.56M | $1.41M |
FTHY vs. ISD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FTHY First Trust High Yield Opportunities 2027 Term Fund | 3.22% | 7.80% | 15.71% | 14.65% | -26.09% | 7.63% | 4.66% |
ISD PGIM High Yield Bond Fund | -9.89% | 15.63% | 22.05% | 15.05% | -18.42% | 15.72% | 18.22% |
Correlation
The correlation between FTHY and ISD is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2020 | 0.49 |
The correlation between FTHY and ISD has been stable across timeframes, ranging from 0.47 to 0.56 - a consistent structural relationship.
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Return for Risk
FTHY vs. ISD — Risk / Return Rank
FTHY
ISD
FTHY vs. ISD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust High Yield Opportunities 2027 Term Fund (FTHY) and PGIM High Yield Bond Fund (ISD). 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.
| FTHY | ISD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.93 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.69 | -0.37 | +1.06 |
| Martin ratioReturn relative to average drawdown | 1.86 | -0.84 | +2.71 |
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Drawdowns
FTHY vs. ISD - Drawdown Comparison
The maximum FTHY drawdown since its inception was -31.17%, smaller than the maximum ISD drawdown of -38.88%. Use the drawdown chart below to compare losses from any high point for FTHY and ISD.
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Drawdown Indicators
| FTHY | ISD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.17% | -38.88% | +7.71% |
Max Drawdown (1Y)Largest decline over 1 year | -5.44% | -13.52% | +8.08% |
Max Drawdown (3Y)Largest decline over 3 years | -8.70% | -13.94% | +5.24% |
Max Drawdown (5Y)Largest decline over 5 years | -31.17% | -25.45% | -5.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.88% | — |
Current DrawdownCurrent decline from peak | -0.22% | -11.81% | +11.59% |
Average DrawdownAverage peak-to-trough decline | -9.95% | -5.65% | -4.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 5.96% | -3.94% |
Volatility
FTHY vs. ISD - Volatility Comparison
The current volatility for First Trust High Yield Opportunities 2027 Term Fund (FTHY) is 1.83%, while PGIM High Yield Bond Fund (ISD) has a volatility of 3.08%. This indicates that FTHY experiences smaller price fluctuations and is considered to be less risky than ISD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTHY | ISD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 3.08% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 5.81% | 9.94% | -4.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.14% | 11.41% | -4.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.80% | 13.36% | -0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.14% | 14.59% | -1.45% |
FTHY vs. ISD - Expense Ratio Comparison
Both FTHY and ISD have an expense ratio of 0.02%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FTHY vs. ISD - Dividend Comparison
FTHY's dividend yield for the trailing twelve months is around 11.01%, more than ISD's 10.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTHY First Trust High Yield Opportunities 2027 Term Fund | 10.09% | 10.66% | 10.70% | 10.22% | 11.85% | 7.83% | 2.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ISD PGIM High Yield Bond Fund | 10.13% | 8.71% | 9.21% | 10.23% | 10.61% | 7.85% | 8.40% | 7.86% | 7.89% | 8.46% | 8.28% | 9.64% |
Frequently Asked Questions
FTHY and ISD have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISD has higher volatility (3.08%) compared to FTHY (1.83%). In terms of maximum drawdown, FTHY dropped -31.17% vs ISD's -38.88%.
FTHY currently has the higher Sharpe Ratio (0.53 vs -0.44), 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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