HWGIX vs. HWHIX

Last updated Jun 24, 2026

HWGIX (Hotchkis & Wiley Global Value Fund) and HWHIX (Hotchkis & Wiley High Yield Fund) are both mutual funds - HWGIX is a Global Equities fund managed by Hotchkis & Wiley, while HWHIX is a High Yield Bonds fund managed by Hotchkis & Wiley. Over the past 10 years, HWGIX returned 11.62%/yr vs 4.27%/yr for HWHIX. At a 0.48 correlation, their price movements are largely independent. HWGIX charges 0.95%/yr vs 0.70%/yr for HWHIX.

Performance

HWGIX vs. HWHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hotchkis & Wiley Global Value Fund (HWGIX) and Hotchkis & Wiley High Yield Fund (HWHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HWGIX achieves a 4.97% return, which is significantly higher than HWHIX's 0.92% return. Over the past 10 years, HWGIX has outperformed HWHIX with an annualized return of 11.62%, while HWHIX has yielded a comparatively lower 4.27% annualized return.

HWGIX

• 1D: 0.18%
• 1M: -0.12%
• YTD: 4.97%
• 6M: 4.84%
• 1Y: 17.52%
• 3Y*: 18.74%
• 5Y*: 10.96%
• 10Y*: 11.62%

HWHIX

• 1D: -0.10%
• 1M: 0.45%
• YTD: 0.92%
• 6M: 1.58%
• 1Y: 5.01%
• 3Y*: 7.67%
• 5Y*: 3.38%
• 10Y*: 4.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HWGIX vs. HWHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HWGIX Hotchkis & Wiley Global Value Fund	4.97%	23.76%	9.46%	28.00%	-11.65%	26.67%	-0.59%	24.57%	-16.08%	16.73%
HWHIX Hotchkis & Wiley High Yield Fund	0.92%	7.28%	7.23%	12.00%	-11.08%	6.25%	3.85%	9.61%	-3.37%	6.62%

Correlation

The correlation between HWGIX and HWHIX is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.48

The correlation between HWGIX and HWHIX has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.

Return for Risk

HWGIX vs. HWHIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HWGIX

HWGIX Risk / Return Rank: 27
HWGIX Sharpe Ratio Rank: 28
HWGIX Sortino Ratio Rank: 28
HWGIX Omega Ratio Rank: 26
HWGIX Calmar Ratio Rank: 27
HWGIX Martin Ratio Rank: 28

HWHIX

HWHIX Risk / Return Rank: 37
HWHIX Sharpe Ratio Rank: 32
HWHIX Sortino Ratio Rank: 41
HWHIX Omega Ratio Rank: 38
HWHIX Calmar Ratio Rank: 32
HWHIX Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HWGIX vs. HWHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley Global Value Fund (HWGIX) and Hotchkis & Wiley High Yield Fund (HWHIX). 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.

	HWGIX	HWHIX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.51	-0.12
Sortino ratio: Return per unit of downside risk	2.03	2.50	-0.47
Omega ratio: Gain probability vs. loss probability	1.25	1.31	-0.06
Calmar ratio: Return relative to maximum drawdown	1.83	1.98	-0.15
Martin ratio: Return relative to average drawdown	6.13	8.62	-2.49

HWGIX vs. HWHIX - Sharpe Ratio Comparison

The current HWGIX Sharpe Ratio is 1.39, which is comparable to the HWHIX Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of HWGIX and HWHIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HWGIX vs. HWHIX - Drawdown Comparison

The maximum HWGIX drawdown since its inception was -46.71%, which is greater than HWHIX's maximum drawdown of -23.03%. Use the drawdown chart below to compare losses from any high point for HWGIX and HWHIX.

Drawdown Indicators

	HWGIX	HWHIX	Difference
Max Drawdown Largest peak-to-trough decline	-46.71%	-23.03%	-23.68%
Max Drawdown (1Y) Largest decline over 1 year	-9.83%	-2.64%	-7.19%
Max Drawdown (3Y) Largest decline over 3 years	-14.17%	-4.08%	-10.09%
Max Drawdown (5Y) Largest decline over 5 years	-28.63%	-15.02%	-13.61%
Max Drawdown (10Y) Largest decline over 10 years	-46.71%	-23.03%	-23.68%
Current Drawdown Current decline from peak	-2.83%	-0.38%	-2.45%
Average Drawdown Average peak-to-trough decline	-6.67%	-3.80%	-2.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	0.61%	+2.32%

Volatility

HWGIX vs. HWHIX - Volatility Comparison

Hotchkis & Wiley Global Value Fund (HWGIX) has a higher volatility of 4.25% compared to Hotchkis & Wiley High Yield Fund (HWHIX) at 1.06%. This indicates that HWGIX's price experiences larger fluctuations and is considered to be riskier than HWHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWGIX	HWHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	1.06%	+3.19%
Volatility (6M) Calculated over the trailing 6-month period	9.59%	2.71%	+6.88%
Volatility (1Y) Calculated over the trailing 1-year period	12.97%	3.48%	+9.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.47%	4.71%	+12.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.64%	5.11%	+15.53%

HWGIX vs. HWHIX - Expense Ratio Comparison

HWGIX has a 0.95% expense ratio, which is higher than HWHIX's 0.70% expense ratio.

Dividends

HWGIX vs. HWHIX - Dividend Comparison

HWGIX's dividend yield for the trailing twelve months is around 9.18%, more than HWHIX's 6.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HWGIX Hotchkis & Wiley Global Value Fund	9.18%	9.63%	15.10%	11.01%	3.92%	0.68%	1.49%	2.56%	10.34%	5.50%	0.80%	7.06%
HWHIX Hotchkis & Wiley High Yield Fund	6.38%	6.24%	6.27%	4.77%	4.03%	4.02%	5.47%	5.92%	6.24%	4.42%	0.00%	0.86%

Frequently Asked Questions

Can I hold both HWGIX and HWHIX in my portfolio?

HWGIX and HWHIX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HWGIX or HWHIX?

HWGIX has higher volatility (4.25%) compared to HWHIX (1.06%). In terms of maximum drawdown, HWGIX dropped -46.71% vs HWHIX's -23.03%.

Which has better risk-adjusted returns?

HWHIX currently has the higher Sharpe Ratio (1.51 vs 1.39), 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.