GHY vs. USA
GHY (PGIM Global High Yield Fund) is High Yield Bonds fund managed by PGIM, while USA (Liberty All-Star Equity Fund) is a stock. Over the past 10 years, GHY returned 6.78%/yr vs 12.11%/yr for USA. Their 0.45 correlation means their historical movements had little consistent relationship.
Performance
GHY vs. USA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GHY achieves a -0.52% return, which is significantly lower than USA's 2.12% return. Over the past 10 years, GHY has underperformed USA with an annualized return of 6.78%, while USA has yielded a comparatively higher 12.11% 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%
USA
- 1D
- 1.55%
- 1M
- 4.70%
- 6M
- 2.64%
- YTD
- 2.12%
- 1Y
- 2.54%
- 3Y*
- 7.48%
- 5Y*
- 2.99%
- 10Y*
- 12.11%
- ALL TIME*
- 7.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.61M | $1.64M | $1.60M | |
| $8.45M | $9.04M | $8.45M |
GHY vs. USA - 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% |
USA Liberty All-Star Equity Fund | 2.12% | 0.09% | 20.81% | 23.17% | -25.20% | 33.76% | 12.89% | 39.70% | -5.06% | 34.66% |
Correlation
The correlation between GHY and USA is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Dec 24, 2012 | 0.45 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GHY vs. USA — Risk / Return Rank
GHY
USA
GHY vs. USA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM Global High Yield Fund (GHY) and Liberty All-Star Equity Fund (USA). 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 | USA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.04 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 0.19 | -0.28 |
| Martin ratioReturn relative to average drawdown | -0.23 | 0.49 | -0.72 |
Loading charts...
Drawdowns
GHY vs. USA - Drawdown Comparison
The maximum GHY drawdown since its inception was -41.35%, smaller than the maximum USA drawdown of -69.15%. Use the drawdown chart below to compare losses from any high point for GHY and USA.
Loading charts...
Drawdown Indicators
| GHY | USA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.35% | -69.15% | +27.80% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -13.65% | +1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | -17.69% | +1.33% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | -34.05% | +4.55% |
Max Drawdown (10Y)Largest decline over 10 years | -41.35% | -47.07% | +5.72% |
Current DrawdownCurrent decline from peak | -5.69% | -3.36% | -2.33% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -11.50% | +5.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.68% | 5.16% | -0.48% |
Volatility
GHY vs. USA - Volatility Comparison
The current volatility for PGIM Global High Yield Fund (GHY) is 3.04%, while Liberty All-Star Equity Fund (USA) has a volatility of 3.95%. This indicates that GHY experiences smaller price fluctuations and is considered to be less risky than USA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GHY | USA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 3.95% | -0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 8.67% | 10.88% | -2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.72% | 14.13% | -3.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 20.11% | -5.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.35% | 22.57% | -7.22% |
Dividends
GHY vs. USA - Dividend Comparison
GHY's dividend yield for the trailing twelve months is around 10.82%, less than USA's 11.36% 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% |
USA Liberty All-Star Equity Fund | 11.36% | 10.67% | 10.22% | 9.56% | 12.11% | 9.67% | 9.13% | 9.75% | 12.64% | 8.89% | 9.30% | 9.53% |
Frequently Asked Questions
GHY and USA have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USA has higher volatility (3.95%) compared to GHY (3.04%). In terms of maximum drawdown, GHY dropped -41.35% vs USA's -69.15%.
USA currently has the higher Sharpe Ratio (0.18 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.
Find the right allocation for GHY and USA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer