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 4.42%/yr vs 4.81%/yr for PSHNX. Their 0.43 correlation means their historical movements had little consistent relationship. 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 -0.52% return, which is significantly lower than PSHNX's 2.16% 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%
PSHNX
- 1D
- 0.00%
- 1M
- 0.05%
- 6M
- 1.85%
- YTD
- 2.16%
- 1Y
- 5.54%
- 3Y*
- 7.04%
- 5Y*
- 4.81%
- 10Y*
- —
- ALL TIME*
- 3.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.61M | $1.64M | $1.60M | |
| $0.00 | $0.00 | $0.00 |
GHY vs. PSHNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | -0.52% | 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 | 2.16% | 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 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.45 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer 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 | -2.95 | ||
| Sortino ratioReturn per unit of downside risk | -4.60 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.69 | -0.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 4.67 | -4.76 |
| Martin ratioReturn relative to average drawdown | -0.23 | 23.78 | -24.01 |
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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 | -5.69% | -0.05% | -5.64% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -0.87% | -5.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.68% | 0.22% | +4.46% |
Volatility
GHY vs. PSHNX - Volatility Comparison
PGIM Global High Yield Fund (GHY) has a higher volatility of 3.04% compared to Penn Capital Short Duration High Income Fund (PSHNX) at 0.40%. 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 | 3.04% | 0.40% | +2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 8.67% | 1.49% | +7.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.72% | 1.88% | +8.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 2.65% | +11.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.35% | 3.13% | +12.22% |
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 10.82%, more than PSHNX's 5.97% yield.
| Position | 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% |
PSHNX Penn Capital Short Duration High Income Fund | 5.97% | 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 0.45, 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 PSHNX (0.40%). In terms of maximum drawdown, GHY dropped -41.35% vs PSHNX's -14.53%.
PSHNX currently has the higher Sharpe Ratio (2.85 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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