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 7.03%/yr vs 12.21%/yr for USA. At a 0.45 correlation, their price movements are largely independent.
Performance
GHY vs. USA - Performance Comparison
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Returns By Period
In the year-to-date period, GHY achieves a 1.61% return, which is significantly higher than USA's 0.07% return. Over the past 10 years, GHY has underperformed USA with an annualized return of 7.03%, while USA has yielded a comparatively higher 12.21% annualized return.
GHY
- 1D
- 0.76%
- 1M
- 1.74%
- 6M
- -0.88%
- YTD
- 1.61%
- 1Y
- -2.10%
- 3Y*
- 13.18%
- 5Y*
- 5.02%
- 10Y*
- 7.03%
USA
- 1D
- -0.17%
- 1M
- 3.66%
- 6M
- -1.50%
- YTD
- 0.07%
- 1Y
- -2.85%
- 3Y*
- 6.88%
- 5Y*
- 1.83%
- 10Y*
- 12.21%
GHY vs. USA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | 1.61% | 10.46% | 20.25% | 17.29% | -20.04% | 12.73% | 6.33% | 26.51% | -3.54% | 4.38% |
USA Liberty All-Star Equity Fund | 0.07% | 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 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Dec 24, 2012 | 0.45 |
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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 | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.98 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | -0.20 | +0.02 |
| Martin ratioReturn relative to average drawdown | -0.46 | -0.50 | +0.04 |
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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.
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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% | -14.30% | +2.36% |
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 | -3.66% | -5.31% | +1.65% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -11.51% | +5.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.62% | 5.74% | -1.12% |
Volatility
GHY vs. USA - Volatility Comparison
The current volatility for PGIM Global High Yield Fund (GHY) is 3.35%, while Liberty All-Star Equity Fund (USA) has a volatility of 4.46%. 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.
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Volatility by Period
| GHY | USA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 4.46% | -1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 8.66% | 10.80% | -2.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.04% | 13.94% | -2.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.28% | 20.19% | -5.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.34% | 22.56% | -7.22% |
Dividends
GHY vs. USA - Dividend Comparison
GHY's dividend yield for the trailing twelve months is around 10.59%, less than USA's 11.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHY PGIM Global High Yield Fund | 10.59% | 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 | 11.43% | 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 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USA has higher volatility (4.46%) compared to GHY (3.35%). In terms of maximum drawdown, GHY dropped -41.35% vs USA's -69.15%.
GHY currently has the higher Sharpe Ratio (-0.19 vs -0.21), 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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