HIX vs. VWEAX
Compare and contrast key facts about Western Asset High Income Fund II (HIX) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX).
HIX is a passively managed fund by Franklin Templeton that tracks the performance of the . It was launched on May 28, 1998. VWEAX is managed by Vanguard. It was launched on Nov 12, 2001.
Performance
HIX vs. VWEAX - Performance Comparison
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HIX vs. VWEAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIX Western Asset High Income Fund II | -0.88% | 13.56% | -1.32% | 15.72% | -24.60% | 13.02% | 12.36% | 27.26% | -9.99% | 7.13% |
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares | -1.68% | 9.49% | 6.42% | 11.79% | -8.95% | 3.04% | 5.41% | 15.92% | -2.80% | 7.17% |
Returns By Period
In the year-to-date period, HIX achieves a -0.88% return, which is significantly higher than VWEAX's -1.68% return. Over the past 10 years, HIX has outperformed VWEAX with an annualized return of 5.73%, while VWEAX has yielded a comparatively lower 5.22% annualized return.
HIX
- 1D
- 5.57%
- 1M
- -3.36%
- YTD
- -0.88%
- 6M
- -1.81%
- 1Y
- 9.56%
- 3Y*
- 7.57%
- 5Y*
- 1.20%
- 10Y*
- 5.73%
VWEAX
- 1D
- 0.18%
- 1M
- -2.34%
- YTD
- -1.68%
- 6M
- 0.04%
- 1Y
- 5.98%
- 3Y*
- 7.45%
- 5Y*
- 3.91%
- 10Y*
- 5.22%
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HIX vs. VWEAX - Expense Ratio Comparison
HIX has a 3.70% expense ratio, which is higher than VWEAX's 0.13% expense ratio.
Return for Risk
HIX vs. VWEAX — Risk / Return Rank
HIX
VWEAX
HIX vs. VWEAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset High Income Fund II (HIX) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). 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.
| HIX | VWEAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.64 | 1.92 | -1.29 |
Sortino ratioReturn per unit of downside risk | 0.95 | 2.89 | -1.93 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.47 | -0.33 |
Calmar ratioReturn relative to maximum drawdown | 0.82 | 2.52 | -1.70 |
Martin ratioReturn relative to average drawdown | 3.10 | 10.45 | -7.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HIX | VWEAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.64 | 1.92 | -1.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.81 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 1.00 | -0.68 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 1.22 | -0.89 |
Correlation
The correlation between HIX and VWEAX is 0.33, 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.
Dividends
HIX vs. VWEAX - Dividend Comparison
HIX's dividend yield for the trailing twelve months is around 14.77%, more than VWEAX's 5.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIX Western Asset High Income Fund II | 14.77% | 14.13% | 13.95% | 11.85% | 12.15% | 8.21% | 8.53% | 8.28% | 9.50% | 8.73% | 10.53% | 13.12% |
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares | 5.91% | 6.25% | 6.20% | 5.79% | 5.21% | 3.49% | 4.71% | 5.33% | 6.07% | 5.39% | 5.51% | 6.53% |
Drawdowns
HIX vs. VWEAX - Drawdown Comparison
The maximum HIX drawdown since its inception was -61.03%, which is greater than VWEAX's maximum drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for HIX and VWEAX.
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Drawdown Indicators
| HIX | VWEAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.03% | -30.05% | -30.98% |
Max Drawdown (1Y)Largest decline over 1 year | -11.07% | -2.52% | -8.55% |
Max Drawdown (5Y)Largest decline over 5 years | -38.75% | -13.77% | -24.98% |
Max Drawdown (10Y)Largest decline over 10 years | -44.77% | -19.68% | -25.09% |
Current DrawdownCurrent decline from peak | -7.38% | -2.34% | -5.04% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -2.13% | -6.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 0.61% | +2.30% |
Volatility
HIX vs. VWEAX - Volatility Comparison
Western Asset High Income Fund II (HIX) has a higher volatility of 7.56% compared to Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) at 1.23%. This indicates that HIX's price experiences larger fluctuations and is considered to be riskier than VWEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIX | VWEAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 1.23% | +6.33% |
Volatility (6M)Calculated over the trailing 6-month period | 10.78% | 2.25% | +8.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.12% | 3.43% | +11.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.95% | 4.86% | +12.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 5.27% | +12.83% |