GHY vs. OSTIX
GHY (PGIM Global High Yield Fund) and OSTIX (Osterweis Strategic Income Fund) are both High Yield Bonds funds. Over the past 10 years, GHY returned 6.89%/yr vs 5.11%/yr for OSTIX. At a 0.38 correlation, their price movements are largely independent. GHY charges 0.03%/yr vs 0.84%/yr for OSTIX.
Performance
GHY vs. OSTIX - 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 OSTIX's 1.67% return. Over the past 10 years, GHY has outperformed OSTIX with an annualized return of 6.89%, while OSTIX has yielded a comparatively lower 5.11% annualized 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%
OSTIX
- 1D
- 0.00%
- 1M
- 0.47%
- YTD
- 1.67%
- 6M
- 1.82%
- 1Y
- 4.29%
- 3Y*
- 7.01%
- 5Y*
- 4.18%
- 10Y*
- 5.11%
GHY vs. OSTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | -1.06% | 10.46% | 20.25% | 17.29% | -20.04% | 12.73% | 6.33% | 26.51% | -3.54% | 4.38% |
OSTIX Osterweis Strategic Income Fund | 1.67% | 4.04% | 8.03% | 12.29% | -5.94% | 5.48% | 9.01% | 5.36% | -0.66% | 6.00% |
Correlation
The correlation between GHY and OSTIX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 24, 2012 | 0.38 |
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Return for Risk
GHY vs. OSTIX — Risk / Return Rank
GHY
OSTIX
GHY vs. OSTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Global High Yield Fund (GHY) and Osterweis Strategic Income Fund (OSTIX). 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 | OSTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.86 | ||
| Sortino ratioReturn per unit of downside risk | -4.13 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.62 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 3.17 | -3.35 |
| Martin ratioReturn relative to average drawdown | -0.45 | 14.30 | -14.75 |
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Drawdowns
GHY vs. OSTIX - Drawdown Comparison
The maximum GHY drawdown since its inception was -41.35%, which is greater than OSTIX's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for GHY and OSTIX.
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Drawdown Indicators
| GHY | OSTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.35% | -10.06% | -31.29% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -1.42% | -10.52% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | -3.27% | -13.09% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | -9.75% | -19.75% |
Max Drawdown (10Y)Largest decline over 10 years | -41.35% | -10.06% | -31.29% |
Current DrawdownCurrent decline from peak | -6.19% | -0.18% | -6.01% |
Average DrawdownAverage peak-to-trough decline | -6.02% | -0.94% | -5.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 0.31% | +4.58% |
Volatility
GHY vs. OSTIX - Volatility Comparison
PGIM Global High Yield Fund (GHY) has a higher volatility of 3.13% compared to Osterweis Strategic Income Fund (OSTIX) at 0.42%. This indicates that GHY's price experiences larger fluctuations and is considered to be riskier than OSTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHY | OSTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 0.42% | +2.71% |
Volatility (6M)Calculated over the trailing 6-month period | 8.32% | 1.36% | +6.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.80% | 1.70% | +9.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.26% | 3.01% | +11.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.34% | 2.95% | +12.39% |
GHY vs. OSTIX - Expense Ratio Comparison
GHY has a 0.03% expense ratio, which is lower than OSTIX's 0.84% expense ratio.
Dividends
GHY vs. OSTIX - Dividend Comparison
GHY's dividend yield for the trailing twelve months is around 10.78%, more than OSTIX's 4.75% 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% |
OSTIX Osterweis Strategic Income Fund | 4.75% | 3.96% | 5.25% | 5.72% | 4.72% | 4.03% | 3.85% | 4.74% | 4.66% | 4.58% | 5.23% | 5.98% |
Frequently Asked Questions
GHY and OSTIX have a correlation of 0.43, 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 OSTIX (0.42%). In terms of maximum drawdown, GHY dropped -41.35% vs OSTIX's -10.06%.
OSTIX currently has the higher Sharpe Ratio (2.65 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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