GHY vs. FTHY
GHY (PGIM Global High Yield Fund) and FTHY (First Trust High Yield Opportunities 2027 Term Fund) are both High Yield Bonds funds. Over the past 5 years, GHY returned 4.42%/yr vs 2.46%/yr for FTHY. Their 0.45 correlation means their historical movements had little consistent relationship. GHY charges 0.03%/yr vs 0.02%/yr for FTHY.
Performance
GHY vs. FTHY - 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 FTHY's 3.57% 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%
FTHY
- 1D
- 0.33%
- 1M
- 0.63%
- 6M
- 1.67%
- YTD
- 3.57%
- 1Y
- 3.99%
- 3Y*
- 11.01%
- 5Y*
- 2.46%
- 10Y*
- —
- ALL TIME*
- 3.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.04M | $1.11M | $1.23M | |
| $1.61M | $1.64M | $1.60M |
GHY vs. FTHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | -0.52% | 10.46% | 20.25% | 17.29% | -20.04% | 12.73% | 20.25% |
FTHY First Trust High Yield Opportunities 2027 Term Fund | 3.57% | 7.80% | 15.71% | 14.65% | -26.09% | 7.63% | 4.66% |
Correlation
The correlation between GHY and FTHY is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2020 | 0.45 |
The correlation between GHY and FTHY has been stable across timeframes, ranging from 0.45 to 0.52 - a consistent structural relationship.
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Return for Risk
GHY vs. FTHY — Risk / Return Rank
GHY
FTHY
GHY vs. FTHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Global High Yield Fund (GHY) and First Trust High Yield Opportunities 2027 Term Fund (FTHY). 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 | FTHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.10 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 0.74 | -0.83 |
| Martin ratioReturn relative to average drawdown | -0.23 | 1.98 | -2.21 |
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Drawdowns
GHY vs. FTHY - Drawdown Comparison
The maximum GHY drawdown since its inception was -41.35%, which is greater than FTHY's maximum drawdown of -31.17%. Use the drawdown chart below to compare losses from any high point for GHY and FTHY.
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Drawdown Indicators
| GHY | FTHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.35% | -31.17% | -10.18% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -5.44% | -6.50% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | -8.70% | -7.66% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | -31.17% | +1.67% |
Max Drawdown (10Y)Largest decline over 10 years | -41.35% | — | — |
Current DrawdownCurrent decline from peak | -5.69% | 0.00% | -5.69% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -9.94% | +3.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.68% | 2.02% | +2.66% |
Volatility
GHY vs. FTHY - Volatility Comparison
PGIM Global High Yield Fund (GHY) has a higher volatility of 3.04% compared to First Trust High Yield Opportunities 2027 Term Fund (FTHY) at 1.85%. This indicates that GHY's price experiences larger fluctuations and is considered to be riskier than FTHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHY | FTHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 1.85% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 8.67% | 5.82% | +2.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.72% | 7.07% | +3.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 12.77% | +1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.35% | 13.13% | +2.22% |
GHY vs. FTHY - Expense Ratio Comparison
GHY has a 0.03% expense ratio, which is higher than FTHY'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
GHY vs. FTHY - Dividend Comparison
GHY's dividend yield for the trailing twelve months is around 10.82%, less than FTHY's 11.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTHY First Trust High Yield Opportunities 2027 Term Fund | 11.07% | 10.66% | 10.70% | 10.22% | 11.85% | 7.83% | 2.94% | 0.00% | 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 FTHY have a correlation of 0.52, 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 FTHY (1.85%). In terms of maximum drawdown, GHY dropped -41.35% vs FTHY's -31.17%.
FTHY currently has the higher Sharpe Ratio (0.57 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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