GHY vs. PSHNX
GHY (PGIM Global High Yield Fund) and PSHNX (Penn Capital Short Duration High Income Fund) are both High Yield Bonds funds. Over the past 5 years, GHY returned 4.67%/yr vs 4.79%/yr for PSHNX. At a 0.43 correlation, their price movements are largely independent. GHY charges 0.03%/yr vs 1.01%/yr for PSHNX.
Performance
GHY vs. PSHNX - 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 PSHNX's 1.84% 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%
PSHNX
- 1D
- 0.00%
- 1M
- 0.68%
- YTD
- 1.84%
- 6M
- 2.05%
- 1Y
- 5.78%
- 3Y*
- 7.32%
- 5Y*
- 4.79%
- 10Y*
- —
GHY vs. PSHNX - 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% | -0.32% |
PSHNX Penn Capital Short Duration High Income Fund | 1.84% | 7.72% | 7.19% | 8.72% | -2.26% | 3.43% | 0.88% | 7.40% | 0.61% | 0.65% |
Correlation
The correlation between GHY and PSHNX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2017 | 0.43 |
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Return for Risk
GHY vs. PSHNX — Risk / Return Rank
GHY
PSHNX
GHY vs. PSHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Global High Yield Fund (GHY) and Penn Capital Short Duration High Income Fund (PSHNX). 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 | PSHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.35 | ||
| Sortino ratioReturn per unit of downside risk | -5.32 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.75 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 5.17 | -5.35 |
| Martin ratioReturn relative to average drawdown | -0.45 | 26.23 | -26.68 |
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Drawdowns
GHY vs. PSHNX - Drawdown Comparison
The maximum GHY drawdown since its inception was -41.35%, which is greater than PSHNX's maximum drawdown of -14.53%. Use the drawdown chart below to compare losses from any high point for GHY and PSHNX.
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Drawdown Indicators
| GHY | PSHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.35% | -14.53% | -26.82% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -1.14% | -10.80% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | -2.83% | -13.53% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | -6.02% | -23.48% |
Max Drawdown (10Y)Largest decline over 10 years | -41.35% | — | — |
Current DrawdownCurrent decline from peak | -6.19% | 0.00% | -6.19% |
Average DrawdownAverage peak-to-trough decline | -6.02% | -0.88% | -5.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 0.23% | +4.66% |
Volatility
GHY vs. PSHNX - Volatility Comparison
PGIM Global High Yield Fund (GHY) has a higher volatility of 3.13% compared to Penn Capital Short Duration High Income Fund (PSHNX) at 0.43%. This indicates that GHY's price experiences larger fluctuations and is considered to be riskier than PSHNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHY | PSHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 0.43% | +2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 8.32% | 1.47% | +6.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.80% | 1.89% | +8.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.26% | 2.65% | +11.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.34% | 3.15% | +12.19% |
GHY vs. PSHNX - Expense Ratio Comparison
GHY has a 0.03% expense ratio, which is lower than PSHNX's 1.01% expense ratio.
Dividends
GHY vs. PSHNX - Dividend Comparison
GHY's dividend yield for the trailing twelve months is around 10.78%, more than PSHNX's 6.06% 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% |
PSHNX Penn Capital Short Duration High Income Fund | 6.06% | 6.27% | 6.43% | 4.95% | 3.47% | 3.17% | 3.95% | 3.65% | 3.13% | 1.46% | 0.00% | 0.00% |
Frequently Asked Questions
GHY and PSHNX have a correlation of 0.42, 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 PSHNX (0.43%). In terms of maximum drawdown, GHY dropped -41.35% vs PSHNX's -14.53%.
PSHNX currently has the higher Sharpe Ratio (3.15 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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