HYHG vs. EIFAX
Compare and contrast key facts about ProShares High Yield-Interest Rate Hedged (HYHG) and Eaton Vance Floating-Rate Advantage Fund (EIFAX).
HYHG is a passively managed fund by ProShares that tracks the performance of the Citi High Yield (Treasury Rate-Hedged) Index. It was launched on May 21, 2013. 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: HYHG or EIFAX.
Key characteristics
| HYHG | EIFAX | |
|---|---|---|
| YTD Return | 4.12% | 2.95% |
| 1Y Return | 16.85% | 12.69% |
| 3Y Return (Ann) | 6.49% | 5.63% |
| 5Y Return (Ann) | 4.97% | 4.76% |
| 10Y Return (Ann) | 3.50% | 4.64% |
| Sharpe Ratio | 2.61 | 3.93 |
| Daily Std Dev | 6.34% | 3.20% |
| Max Drawdown | -25.71% | -38.15% |
| Current Drawdown | -0.08% | 0.00% |
Correlation
The correlation between HYHG 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
HYHG vs. EIFAX - Performance Comparison
In the year-to-date period, HYHG achieves a 4.12% return, which is significantly higher than EIFAX's 2.95% return. Over the past 10 years, HYHG has underperformed EIFAX with an annualized return of 3.50%, 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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HYHG vs. EIFAX - Expense Ratio Comparison
HYHG has a 0.50% expense ratio, which is higher than EIFAX's 0.47% expense ratio.
Risk-Adjusted Performance
HYHG vs. EIFAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) 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
HYHG vs. EIFAX - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.37%, less than EIFAX's 9.63% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.37% | 6.07% | 5.58% | 4.54% | 5.21% | 6.06% | 6.45% | 5.57% | 5.37% | 6.37% | 5.51% | 3.02% |
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
HYHG vs. EIFAX - Drawdown Comparison
The maximum HYHG drawdown since its inception was -25.71%, smaller than the maximum EIFAX drawdown of -38.15%. Use the drawdown chart below to compare losses from any high point for HYHG and EIFAX. For additional features, visit the drawdowns tool.
Volatility
HYHG vs. EIFAX - Volatility Comparison
ProShares High Yield-Interest Rate Hedged (HYHG) has a higher volatility of 1.12% compared to Eaton Vance Floating-Rate Advantage Fund (EIFAX) at 0.83%. This indicates that HYHG'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.