GHYG vs. EIFAX
Compare and contrast key facts about iShares US & Intl High Yield Corp Bond ETF (GHYG) and Eaton Vance Floating-Rate Advantage Fund (EIFAX).
GHYG is a passively managed fund by iShares that tracks the performance of the Markit iBoxx Global Developed Markets High Yield Index. It was launched on Apr 3, 2012. EIFAX is managed by Eaton Vance. It was launched on Mar 16, 2008.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GHYG or EIFAX.
Key characteristics
| GHYG | EIFAX | |
|---|---|---|
| YTD Return | 0.39% | 2.95% |
| 1Y Return | 9.03% | 12.69% |
| 3Y Return (Ann) | 0.06% | 5.63% |
| 5Y Return (Ann) | 2.58% | 4.76% |
| 10Y Return (Ann) | 2.68% | 4.64% |
| Sharpe Ratio | 1.42 | 3.93 |
| Daily Std Dev | 6.40% | 3.20% |
| Max Drawdown | -27.36% | -38.15% |
| Current Drawdown | -1.42% | 0.00% |
Correlation
The correlation between GHYG and EIFAX is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
GHYG vs. EIFAX - Performance Comparison
In the year-to-date period, GHYG achieves a 0.39% return, which is significantly lower than EIFAX's 2.95% return. Over the past 10 years, GHYG has underperformed EIFAX with an annualized return of 2.68%, while EIFAX has yielded a comparatively higher 4.64% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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GHYG vs. EIFAX - Expense Ratio Comparison
GHYG has a 0.40% expense ratio, which is lower than EIFAX's 0.47% expense ratio.
Risk-Adjusted Performance
GHYG vs. EIFAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US & Intl High Yield Corp Bond ETF (GHYG) and Eaton Vance Floating-Rate Advantage Fund (EIFAX). 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.
Dividends
GHYG vs. EIFAX - Dividend Comparison
GHYG's dividend yield for the trailing twelve months is around 5.90%, less than EIFAX's 9.63% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYG iShares US & Intl High Yield Corp Bond ETF | 5.90% | 5.60% | 4.64% | 4.57% | 4.36% | 4.61% | 5.62% | 4.60% | 4.61% | 4.79% | 5.73% | 5.52% |
EIFAX Eaton Vance Floating-Rate Advantage Fund | 9.63% | 9.34% | 5.92% | 4.03% | 4.51% | 5.58% | 5.12% | 4.46% | 5.03% | 5.29% | 4.79% | 4.82% |
Drawdowns
GHYG vs. EIFAX - Drawdown Comparison
The maximum GHYG drawdown since its inception was -27.36%, smaller than the maximum EIFAX drawdown of -38.15%. Use the drawdown chart below to compare losses from any high point for GHYG and EIFAX. For additional features, visit the drawdowns tool.
Volatility
GHYG vs. EIFAX - Volatility Comparison
iShares US & Intl High Yield Corp Bond ETF (GHYG) has a higher volatility of 1.88% compared to Eaton Vance Floating-Rate Advantage Fund (EIFAX) at 0.83%. This indicates that GHYG's price experiences larger fluctuations and is considered to be riskier than EIFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.