HIX vs. FSCO
HIX (Western Asset High Income Fund II) is High Yield Bonds fund managed by Franklin Templeton, while FSCO (FS Credit Opportunities Corp.) is a stock. Over the past 3 years, HIX returned 7.88%/yr vs 14.30%/yr for FSCO. At a 0.14 correlation, their price movements are largely independent.
Performance
HIX vs. FSCO - Performance Comparison
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Returns By Period
In the year-to-date period, HIX achieves a 1.83% return, which is significantly higher than FSCO's -18.71% return.
HIX
- 1D
- 0.25%
- 1M
- 1.27%
- YTD
- 1.83%
- 6M
- 4.06%
- 1Y
- 8.08%
- 3Y*
- 7.88%
- 5Y*
- 0.70%
- 10Y*
- 5.29%
FSCO
- 1D
- -1.83%
- 1M
- -4.35%
- YTD
- -18.71%
- 6M
- -16.22%
- 1Y
- -24.11%
- 3Y*
- 14.30%
- 5Y*
- —
- 10Y*
- —
HIX vs. FSCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HIX Western Asset High Income Fund II | 1.83% | 13.56% | -1.32% | 15.72% | 2.78% |
FSCO FS Credit Opportunities Corp. | -18.71% | 3.68% | 34.88% | 36.98% | -3.98% |
Correlation
The correlation between HIX and FSCO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2022 | 0.14 |
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Return for Risk
HIX vs. FSCO — Risk / Return Rank
HIX
FSCO
HIX vs. FSCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset High Income Fund II (HIX) and FS Credit Opportunities Corp. (FSCO). 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.
| HIX | FSCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.50 | ||
| Sortino ratioReturn per unit of downside risk | +2.08 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.85 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | -0.68 | +1.41 |
| Martin ratioReturn relative to average drawdown | 2.36 | -1.34 | +3.70 |
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Drawdowns
HIX vs. FSCO - Drawdown Comparison
The maximum HIX drawdown since its inception was -61.03%, which is greater than FSCO's maximum drawdown of -35.53%. Use the drawdown chart below to compare losses from any high point for HIX and FSCO.
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Drawdown Indicators
| HIX | FSCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.03% | -35.53% | -25.50% |
Max Drawdown (1Y)Largest decline over 1 year | -11.07% | -35.53% | +24.46% |
Max Drawdown (3Y)Largest decline over 3 years | -14.86% | -35.53% | +20.67% |
Max Drawdown (5Y)Largest decline over 5 years | -38.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -44.77% | — | — |
Current DrawdownCurrent decline from peak | -4.85% | -29.03% | +24.18% |
Average DrawdownAverage peak-to-trough decline | -8.92% | -8.13% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.43% | 18.03% | -14.60% |
Volatility
HIX vs. FSCO - Volatility Comparison
The current volatility for Western Asset High Income Fund II (HIX) is 3.10%, while FS Credit Opportunities Corp. (FSCO) has a volatility of 6.28%. This indicates that HIX experiences smaller price fluctuations and is considered to be less risky than FSCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIX | FSCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.10% | 6.28% | -3.18% |
Volatility (6M)Calculated over the trailing 6-month period | 10.80% | 22.64% | -11.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.23% | 27.50% | -14.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.06% | 28.18% | -11.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.12% | 28.18% | -10.06% |
Dividends
HIX vs. FSCO - Dividend Comparison
HIX's dividend yield for the trailing twelve months is around 14.74%, less than FSCO's 16.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSCO FS Credit Opportunities Corp. | 16.22% | 12.65% | 10.47% | 11.26% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HIX Western Asset High Income Fund II | 14.74% | 14.13% | 13.95% | 11.85% | 12.15% | 8.21% | 8.53% | 8.28% | 9.50% | 8.73% | 10.53% | 13.12% |
Frequently Asked Questions
HIX and FSCO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSCO has higher volatility (6.28%) compared to HIX (3.10%). In terms of maximum drawdown, HIX dropped -61.03% vs FSCO's -35.53%.
HIX currently has the higher Sharpe Ratio (0.61 vs -0.88), 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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