HIO vs. FINS
HIO (Western Asset High Income Opportunity Fund Inc) and FINS (Angel Oak Financial Strategies Income Term Trust) are both High Yield Bonds funds. Over the past 5 years, HIO returned 2.20%/yr vs 2.20%/yr for FINS. Their 0.30 correlation means their historical movements had little consistent relationship. HIO charges 0.01%/yr vs 0.03%/yr for FINS.
Performance
HIO vs. FINS - Performance Comparison
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Returns By Period
In the year-to-date period, HIO achieves a 1.83% return, which is significantly higher than FINS's 0.79% return.
HIO
- 1D
- 0.57%
- 1M
- -2.58%
- 6M
- -0.73%
- YTD
- 1.83%
- 1Y
- 0.16%
- 3Y*
- 8.36%
- 5Y*
- 2.20%
- 10Y*
- 5.44%
- ALL TIME*
- 6.14%
FINS
- 1D
- -0.08%
- 1M
- -1.53%
- 6M
- -0.38%
- YTD
- 0.79%
- 1Y
- 7.01%
- 3Y*
- 13.19%
- 5Y*
- 2.20%
- 10Y*
- —
- ALL TIME*
- 2.34%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $499.23K | $530.98K | $501.18K | |
| $1.80M | $1.29M | $1.25M |
HIO vs. FINS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HIO Western Asset High Income Opportunity Fund Inc | 1.83% | 5.33% | 13.58% | 8.07% | -17.09% | 12.80% | 6.07% | 7.00% |
FINS Angel Oak Financial Strategies Income Term Trust | 0.79% | 15.17% | 18.33% | 2.55% | -18.18% | 9.08% | -12.57% | 7.39% |
Correlation
The correlation between HIO and FINS is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.33 |
Correlation (All Time) Calculated using the full available price history since May 29, 2019 | 0.30 |
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Return for Risk
HIO vs. FINS — Risk / Return Rank
HIO
FINS
HIO vs. FINS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset High Income Opportunity Fund Inc (HIO) and Angel Oak Financial Strategies Income Term Trust (FINS). 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.
| HIO | FINS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.15 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 1.17 | -1.19 |
| Martin ratioReturn relative to average drawdown | -0.03 | 4.04 | -4.07 |
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Drawdowns
HIO vs. FINS - Drawdown Comparison
The maximum HIO drawdown since its inception was -49.69%, which is greater than FINS's maximum drawdown of -40.79%. Use the drawdown chart below to compare losses from any high point for HIO and FINS.
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Drawdown Indicators
| HIO | FINS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.69% | -40.79% | -8.90% |
Max Drawdown (1Y)Largest decline over 1 year | -6.70% | -5.64% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -13.29% | -6.04% | -7.25% |
Max Drawdown (5Y)Largest decline over 5 years | -26.18% | -26.44% | +0.26% |
Max Drawdown (10Y)Largest decline over 10 years | -40.57% | — | — |
Current DrawdownCurrent decline from peak | -2.96% | -2.52% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -6.44% | -12.86% | +6.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 1.64% | +1.53% |
Volatility
HIO vs. FINS - Volatility Comparison
Western Asset High Income Opportunity Fund Inc (HIO) has a higher volatility of 2.76% compared to Angel Oak Financial Strategies Income Term Trust (FINS) at 1.93%. This indicates that HIO's price experiences larger fluctuations and is considered to be riskier than FINS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIO | FINS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.76% | 1.93% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 7.92% | 5.90% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.47% | 8.23% | +2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.81% | 10.89% | +1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.95% | 20.71% | -4.76% |
HIO vs. FINS - Expense Ratio Comparison
HIO has a 0.02% expense ratio, which is lower than FINS's 0.03% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HIO vs. FINS - Dividend Comparison
HIO's dividend yield for the trailing twelve months is around 12.07%, more than FINS's 11.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FINS Angel Oak Financial Strategies Income Term Trust | 11.03% | 10.13% | 10.30% | 10.04% | 9.74% | 7.63% | 7.42% | 3.41% | 0.00% | 0.00% | 0.00% | 0.00% |
HIO Western Asset High Income Opportunity Fund Inc | 12.07% | 11.48% | 10.84% | 9.90% | 9.11% | 7.02% | 7.86% | 6.91% | 7.31% | 7.04% | 8.44% | 9.08% |
Frequently Asked Questions
HIO and FINS have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIO has higher volatility (2.76%) compared to FINS (1.93%). In terms of maximum drawdown, HIO dropped -49.69% vs FINS's -40.79%.
FINS currently has the higher Sharpe Ratio (0.81 vs -0.01), 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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