GHY vs. JPIE
GHY (PGIM Global High Yield Fund) and JPIE (JPMorgan Income ETF) are both funds - GHY is a High Yield Bonds fund managed by PGIM, while JPIE is a Multisector Bonds fund actively managed by JPMorgan. Over the past 3 years, GHY returned 13.14%/yr vs 6.66%/yr for JPIE. At a 0.43 correlation, their price movements are largely independent. GHY charges 0.03%/yr vs 0.40%/yr for JPIE.
Performance
GHY vs. JPIE - Performance Comparison
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Returns By Period
In the year-to-date period, GHY achieves a -1.06% return, which is significantly lower than JPIE's 1.65% return.
GHY
- 1D
- -0.85%
- 1M
- -1.22%
- YTD
- -1.06%
- 6M
- -0.94%
- 1Y
- -2.19%
- 3Y*
- 13.14%
- 5Y*
- 4.67%
- 10Y*
- 6.89%
JPIE
- 1D
- 0.15%
- 1M
- 0.65%
- YTD
- 1.65%
- 6M
- 1.72%
- 1Y
- 5.30%
- 3Y*
- 6.66%
- 5Y*
- —
- 10Y*
- —
GHY vs. JPIE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | -1.06% | 10.46% | 20.25% | 17.29% | -20.04% | -1.89% |
JPIE JPMorgan Income ETF | 1.65% | 7.39% | 6.32% | 7.07% | -6.13% | 0.27% |
Correlation
The correlation between GHY and JPIE is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021 | 0.43 |
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Return for Risk
GHY vs. JPIE — Risk / Return Rank
GHY
JPIE
GHY vs. JPIE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Global High Yield Fund (GHY) and JPMorgan Income ETF (JPIE). 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 | JPIE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.52 | ||
| Sortino ratioReturn per unit of downside risk | -5.31 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.74 | -0.76 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 4.64 | -4.83 |
| Martin ratioReturn relative to average drawdown | -0.45 | 22.58 | -23.03 |
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Drawdowns
GHY vs. JPIE - Drawdown Comparison
The maximum GHY drawdown since its inception was -41.35%, which is greater than JPIE's maximum drawdown of -9.96%. Use the drawdown chart below to compare losses from any high point for GHY and JPIE.
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Drawdown Indicators
| GHY | JPIE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.35% | -9.96% | -31.39% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -1.15% | -10.79% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | -2.40% | -13.96% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.35% | — | — |
Current DrawdownCurrent decline from peak | -6.19% | -0.17% | -6.02% |
Average DrawdownAverage peak-to-trough decline | -6.02% | -2.07% | -3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 0.24% | +4.65% |
Volatility
GHY vs. JPIE - Volatility Comparison
PGIM Global High Yield Fund (GHY) has a higher volatility of 3.13% compared to JPMorgan Income ETF (JPIE) at 0.60%. This indicates that GHY's price experiences larger fluctuations and is considered to be riskier than JPIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHY | JPIE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 0.60% | +2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 8.32% | 1.34% | +6.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.80% | 1.62% | +9.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.26% | 3.51% | +10.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.34% | 3.51% | +11.83% |
GHY vs. JPIE - Expense Ratio Comparison
GHY has a 0.03% expense ratio, which is lower than JPIE's 0.40% expense ratio.
Dividends
GHY vs. JPIE - Dividend Comparison
GHY's dividend yield for the trailing twelve months is around 10.78%, more than JPIE's 5.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | 10.78% | 10.21% | 10.23% | 11.09% | 11.62% | 8.35% | 8.67% | 8.04% | 7.72% | 7.77% | 8.53% | 10.07% |
JPIE JPMorgan Income ETF | 5.61% | 5.65% | 6.11% | 5.70% | 4.49% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GHY and JPIE have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GHY has higher volatility (3.13%) compared to JPIE (0.60%). In terms of maximum drawdown, GHY dropped -41.35% vs JPIE's -9.96%.
JPIE currently has the higher Sharpe Ratio (3.31 vs -0.20), 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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