GHY vs. TYG
GHY (PGIM Global High Yield Fund) and TYG (Tortoise Energy Infrastructure Closed Fund) are both mutual funds - GHY is a High Yield Bonds fund managed by PGIM, while TYG is a Infrastructure Equities fund actively managed by Tortoise. Over the past 10 years, GHY returned 6.78%/yr vs -1.66%/yr for TYG. Their 0.34 correlation means their historical movements had little consistent relationship. GHY charges 0.03%/yr vs 2.90%/yr for TYG.
Performance
GHY vs. TYG - 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 TYG's 11.81% return. Over the past 10 years, GHY has outperformed TYG with an annualized return of 6.78%, while TYG has yielded a comparatively lower -1.66% annualized 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%
TYG
- 1D
- -0.70%
- 1M
- 0.59%
- 6M
- 2.41%
- YTD
- 11.81%
- 1Y
- 10.80%
- 3Y*
- 25.10%
- 5Y*
- 21.23%
- 10Y*
- -1.66%
- ALL TIME*
- 4.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.61M | $1.64M | $1.60M | |
| $5.85M | $6.33M | $9.29M |
GHY vs. TYG - 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% | 4.38% |
TYG Tortoise Energy Infrastructure Closed Fund | 11.81% | 8.46% | 60.18% | -0.37% | 24.20% | 46.86% | -70.31% | 1.79% | -24.74% | 3.17% |
Correlation
The correlation between GHY and TYG is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.34 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Dec 24, 2012 | 0.34 |
Over the past year, the correlation between GHY and TYG has dropped to 0.09 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.
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Return for Risk
GHY vs. TYG — Risk / Return Rank
GHY
TYG
GHY vs. TYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Global High Yield Fund (GHY) and Tortoise Energy Infrastructure Closed Fund (TYG). 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 | TYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.12 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 0.78 | -0.87 |
| Martin ratioReturn relative to average drawdown | -0.23 | 1.79 | -2.02 |
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Drawdowns
GHY vs. TYG - Drawdown Comparison
The maximum GHY drawdown since its inception was -41.35%, smaller than the maximum TYG drawdown of -95.34%. Use the drawdown chart below to compare losses from any high point for GHY and TYG.
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Drawdown Indicators
| GHY | TYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.35% | -95.34% | +53.99% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -13.94% | +2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | -25.08% | +8.72% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | -25.08% | -4.42% |
Max Drawdown (10Y)Largest decline over 10 years | -41.35% | -94.98% | +53.63% |
Current DrawdownCurrent decline from peak | -5.69% | -36.22% | +30.53% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -29.46% | +23.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.68% | 6.04% | -1.36% |
Volatility
GHY vs. TYG - Volatility Comparison
The current volatility for PGIM Global High Yield Fund (GHY) is 3.04%, while Tortoise Energy Infrastructure Closed Fund (TYG) has a volatility of 4.12%. This indicates that GHY experiences smaller price fluctuations and is considered to be less risky than TYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GHY | TYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 4.12% | -1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 8.67% | 16.28% | -7.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.72% | 19.45% | -8.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 23.57% | -9.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.35% | 51.10% | -35.75% |
GHY vs. TYG - Expense Ratio Comparison
GHY has a 0.03% expense ratio, which is lower than TYG's 2.90% expense ratio.
Dividends
GHY vs. TYG - Dividend Comparison
GHY's dividend yield for the trailing twelve months is around 10.82%, less than TYG's 12.61% 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% |
TYG Tortoise Energy Infrastructure Closed Fund | 12.61% | 11.25% | 7.96% | 9.87% | 8.94% | 5.27% | 10.85% | 14.61% | 13.17% | 9.01% | 8.54% | 13.95% |
Frequently Asked Questions
GHY and TYG have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYG has higher volatility (4.12%) compared to GHY (3.04%). In terms of maximum drawdown, GHY dropped -41.35% vs TYG's -95.34%.
TYG currently has the higher Sharpe Ratio (0.56 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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