GHY vs. HYI
Compare and contrast key facts about PGIM Global High Yield Fund (GHY) and Western Asset High Yield Opportunity Fund Inc (HYI).
GHY is managed by PGIM. It was launched on Dec 26, 2012. HYI is managed by Franklin Templeton. It was launched on Jul 20, 2010.
Performance
GHY vs. HYI - Performance Comparison
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GHY vs. HYI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | -3.98% | 10.46% | 20.25% | 17.29% | -20.04% | 12.73% | 6.33% | 26.51% | -3.54% | 4.38% |
HYI Western Asset High Yield Opportunity Fund Inc | -1.80% | 4.09% | 7.58% | 6.72% | -13.48% | 10.04% | 6.78% | 27.90% | -6.36% | 8.57% |
Returns By Period
In the year-to-date period, GHY achieves a -3.98% return, which is significantly lower than HYI's -1.80% return. Over the past 10 years, GHY has outperformed HYI with an annualized return of 6.97%, while HYI has yielded a comparatively lower 5.98% annualized return.
GHY
- 1D
- 3.37%
- 1M
- -7.82%
- YTD
- -3.98%
- 6M
- -4.84%
- 1Y
- -4.16%
- 3Y*
- 13.21%
- 5Y*
- 5.20%
- 10Y*
- 6.97%
HYI
- 1D
- 2.10%
- 1M
- -3.45%
- YTD
- -1.80%
- 6M
- -3.99%
- 1Y
- -0.34%
- 3Y*
- 6.11%
- 5Y*
- 1.93%
- 10Y*
- 5.98%
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GHY vs. HYI - Expense Ratio Comparison
GHY has a 0.03% expense ratio, which is higher than HYI'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%.
Return for Risk
GHY vs. HYI — Risk / Return Rank
GHY
HYI
GHY vs. HYI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Global High Yield Fund (GHY) and Western Asset High Yield Opportunity Fund Inc (HYI). 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.
| GHY | HYI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.26 | -0.04 | -0.22 |
Sortino ratioReturn per unit of downside risk | -0.22 | 0.00 | -0.22 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.00 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | -0.30 | -0.05 | -0.25 |
Martin ratioReturn relative to average drawdown | -0.93 | -0.12 | -0.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GHY | HYI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.26 | -0.04 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.17 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.46 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.36 | +0.01 |
Correlation
The correlation between GHY and HYI 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
GHY vs. HYI - Dividend Comparison
GHY's dividend yield for the trailing twelve months is around 10.82%, more than HYI's 10.67% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HYI Western Asset High Yield Opportunity Fund Inc | 10.67% | 10.22% | 9.64% | 9.40% | 9.09% | 7.19% | 7.35% | 6.87% | 8.10% | 7.81% | 8.73% | 9.36% |
Drawdowns
GHY vs. HYI - Drawdown Comparison
The maximum GHY drawdown since its inception was -41.35%, which is greater than HYI's maximum drawdown of -36.06%. Use the drawdown chart below to compare losses from any high point for GHY and HYI.
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Drawdown Indicators
| GHY | HYI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.35% | -36.06% | -5.29% |
Max Drawdown (1Y)Largest decline over 1 year | -15.62% | -8.19% | -7.43% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | -26.35% | -3.15% |
Max Drawdown (10Y)Largest decline over 10 years | -41.35% | -36.06% | -5.29% |
Current DrawdownCurrent decline from peak | -8.97% | -6.26% | -2.71% |
Average DrawdownAverage peak-to-trough decline | -6.03% | -5.81% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.04% | 3.59% | +1.45% |
Volatility
GHY vs. HYI - Volatility Comparison
PGIM Global High Yield Fund (GHY) has a higher volatility of 5.35% compared to Western Asset High Yield Opportunity Fund Inc (HYI) at 3.77%. This indicates that GHY's price experiences larger fluctuations and is considered to be riskier than HYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHY | HYI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.35% | 3.77% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 7.81% | 5.28% | +2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.19% | 8.37% | +7.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.17% | 11.26% | +2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.29% | 12.97% | +2.32% |