GHY vs. FQTIX
GHY (PGIM Global High Yield Fund) and FQTIX (Franklin Templeton SMACS: Series I) are both High Yield Bonds funds. Over the past 5 years, GHY returned 4.42%/yr vs 3.50%/yr for FQTIX. Their 0.46 correlation means their historical movements had little consistent relationship. GHY charges 0.03%/yr vs 0.00%/yr for FQTIX.
Performance
GHY vs. FQTIX - Performance Comparison
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Returns By Period
In the year-to-date period, GHY achieves a -0.52% return, which is significantly lower than FQTIX's 3.02% return.
GHY
- 1D
- -0.09%
- 1M
- -2.38%
- 6M
- -4.54%
- YTD
- -0.52%
- 1Y
- -1.07%
- 3Y*
- 11.98%
- 5Y*
- 4.42%
- 10Y*
- 6.78%
- ALL TIME*
- 5.38%
FQTIX
- 1D
- -0.12%
- 1M
- -0.91%
- 6M
- 1.56%
- YTD
- 3.02%
- 1Y
- 7.36%
- 3Y*
- 7.95%
- 5Y*
- 3.50%
- 10Y*
- —
- ALL TIME*
- 4.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.61M | $1.64M | $1.60M |
GHY vs. FQTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | -0.52% | 10.46% | 20.25% | 17.29% | -20.04% | 12.73% | 6.33% | 16.01% |
FQTIX Franklin Templeton SMACS: Series I | 3.02% | 7.51% | 8.03% | 13.44% | -14.39% | 8.51% | 3.68% | 4.11% |
Correlation
The correlation between GHY and FQTIX is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.43 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2019 | 0.46 |
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Return for Risk
GHY vs. FQTIX — Risk / Return Rank
GHY
FQTIX
GHY vs. FQTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Global High Yield Fund (GHY) and Franklin Templeton SMACS: Series I (FQTIX). 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.
| GHY | FQTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -3.59 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.51 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 3.31 | -3.40 |
| Martin ratioReturn relative to average drawdown | -0.23 | 15.98 | -16.21 |
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Drawdowns
GHY vs. FQTIX - Drawdown Comparison
The maximum GHY drawdown since its inception was -41.35%, which is greater than FQTIX's maximum drawdown of -24.62%. Use the drawdown chart below to compare losses from any high point for GHY and FQTIX.
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Drawdown Indicators
| GHY | FQTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.35% | -24.62% | -16.73% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -2.20% | -9.74% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | -5.59% | -10.77% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | -18.81% | -10.69% |
Max Drawdown (10Y)Largest decline over 10 years | -41.35% | — | — |
Current DrawdownCurrent decline from peak | -5.69% | -1.03% | -4.66% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -4.23% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.68% | 0.45% | +4.23% |
Volatility
GHY vs. FQTIX - Volatility Comparison
PGIM Global High Yield Fund (GHY) has a higher volatility of 3.04% compared to Franklin Templeton SMACS: Series I (FQTIX) at 0.61%. This indicates that GHY's price experiences larger fluctuations and is considered to be riskier than FQTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHY | FQTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 0.61% | +2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 8.67% | 2.41% | +6.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.72% | 3.09% | +7.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 5.93% | +8.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.35% | 7.64% | +7.71% |
GHY vs. FQTIX - Expense Ratio Comparison
GHY has a 0.03% expense ratio, which is higher than FQTIX's 0.00% 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
GHY vs. FQTIX - Dividend Comparison
GHY's dividend yield for the trailing twelve months is around 10.82%, more than FQTIX's 7.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FQTIX Franklin Templeton SMACS: Series I | 7.06% | 5.70% | 7.86% | 7.64% | 8.10% | 7.15% | 6.89% | 5.63% | 0.00% | 0.00% | 0.00% | 0.00% |
GHY PGIM Global High Yield Fund | 10.82% | 10.21% | 10.23% | 11.09% | 11.62% | 8.35% | 8.67% | 8.04% | 7.72% | 7.77% | 8.53% | 10.07% |
Frequently Asked Questions
GHY and FQTIX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GHY has higher volatility (3.04%) compared to FQTIX (0.61%). In terms of maximum drawdown, GHY dropped -41.35% vs FQTIX's -24.62%.
FQTIX currently has the higher Sharpe Ratio (2.36 vs -0.10), 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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