FTHY vs. SDHY

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust High Yield Opportunities 2027 Term Fund (FTHY) and PGIM Short Duration High Yield Opportunities Fund (SDHY).

FTHY is managed by First Trust. It was launched on Jun 25, 2020. SDHY is managed by PGIM.

Performance

FTHY vs. SDHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust High Yield Opportunities 2027 Term Fund (FTHY) and PGIM Short Duration High Yield Opportunities Fund (SDHY). The values are adjusted to include any dividend payments, if applicable.

FTHY vs. SDHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FTHY First Trust High Yield Opportunities 2027 Term Fund	-1.04%	7.80%	15.71%	14.65%	-26.09%	7.63%	3.97%
SDHY PGIM Short Duration High Yield Opportunities Fund	-1.39%	10.37%	16.68%	11.40%	-13.33%	-3.05%	2.35%

Returns By Period

In the year-to-date period, FTHY achieves a -1.04% return, which is significantly higher than SDHY's -1.39% return.

FTHY

• 1D: 0.19%
• 1M: -1.77%
• YTD: -1.04%
• 6M: -1.25%
• 1Y: 4.44%
• 3Y*: 10.32%
• 5Y*: 2.46%
• 10Y*: —

SDHY

• 1D: -0.06%
• 1M: -3.77%
• YTD: -1.39%
• 6M: -0.77%
• 1Y: 4.44%
• 3Y*: 11.40%
• 5Y*: 4.35%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FTHY vs. SDHY - Expense Ratio Comparison

FTHY has a 0.02% expense ratio, which is lower than SDHY's 0.70% expense ratio.

SDHY

PGIM Short Duration High Yield Opportunities Fund

FTHY

First Trust High Yield Opportunities 2027 Term Fund

Return for Risk

FTHY vs. SDHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FTHY

FTHY Risk / Return Rank: 12
FTHY Sharpe Ratio Rank: 12
FTHY Sortino Ratio Rank: 11
FTHY Omega Ratio Rank: 12
FTHY Calmar Ratio Rank: 13
FTHY Martin Ratio Rank: 14

SDHY

SDHY Risk / Return Rank: 12
SDHY Sharpe Ratio Rank: 11
SDHY Sortino Ratio Rank: 10
SDHY Omega Ratio Rank: 12
SDHY Calmar Ratio Rank: 13
SDHY Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FTHY vs. SDHY - 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 Short Duration High Yield Opportunities Fund (SDHY). 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.

	FTHY	SDHY	Difference
Sharpe ratio Return per unit of total volatility	0.46	0.42	+0.03
Sortino ratio Return per unit of downside risk	0.67	0.65	+0.02
Omega ratio Gain probability vs. loss probability	1.11	1.10	0.00
Calmar ratio Return relative to maximum drawdown	0.55	0.58	-0.03
Martin ratio Return relative to average drawdown	1.99	2.20	-0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTHY vs. SDHY - Sharpe Ratio Comparison

The current FTHY Sharpe Ratio is 0.46, which is comparable to the SDHY Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of FTHY and SDHY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FTHY	SDHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	0.42	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.41	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.34	-0.12

Correlation

The correlation between FTHY and SDHY is 0.44, 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

FTHY vs. SDHY - Dividend Comparison

FTHY's dividend yield for the trailing twelve months is around 11.17%, more than SDHY's 8.09% yield.

	TTM	2025	2024	2023	2022	2021	2020
FTHY First Trust High Yield Opportunities 2027 Term Fund	11.17%	10.66%	10.70%	10.22%	11.85%	7.83%	2.94%
SDHY PGIM Short Duration High Yield Opportunities Fund	8.09%	7.88%	8.04%	8.64%	8.82%	7.62%	0.00%

Drawdowns

FTHY vs. SDHY - Drawdown Comparison

The maximum FTHY drawdown since its inception was -31.17%, which is greater than SDHY's maximum drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for FTHY and SDHY.

Drawdown Indicators

	FTHY	SDHY	Difference
Max Drawdown Largest peak-to-trough decline	-31.17%	-22.65%	-8.52%
Max Drawdown (1Y) Largest decline over 1 year	-7.43%	-8.36%	+0.93%
Max Drawdown (5Y) Largest decline over 5 years	-31.17%	-22.28%	-8.89%
Current Drawdown Current decline from peak	-3.27%	-3.89%	+0.62%
Average Drawdown Average peak-to-trough decline	-10.44%	-6.83%	-3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	2.31%	-0.21%

Volatility

FTHY vs. SDHY - Volatility Comparison

The current volatility for First Trust High Yield Opportunities 2027 Term Fund (FTHY) is 3.46%, while PGIM Short Duration High Yield Opportunities Fund (SDHY) has a volatility of 4.16%. This indicates that FTHY experiences smaller price fluctuations and is considered to be less risky than SDHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTHY	SDHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	4.16%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	5.00%	5.78%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	9.78%	10.55%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.86%	10.69%	+2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.39%	11.12%	+2.27%