HYHG vs. PDI
Compare and contrast key facts about ProShares High Yield-Interest Rate Hedged (HYHG) and PIMCO Dynamic Income Fund (PDI).
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYHG or PDI.
Key characteristics
| HYHG | PDI | |
|---|---|---|
| YTD Return | 10.53% | 23.36% |
| 1Y Return | 14.02% | 30.87% |
| 3Y Return (Ann) | 7.83% | 4.10% |
| 5Y Return (Ann) | 6.26% | 2.04% |
| 10Y Return (Ann) | 4.40% | 7.83% |
| Sharpe Ratio | 2.61 | 2.89 |
| Sortino Ratio | 3.97 | 3.40 |
| Omega Ratio | 1.59 | 1.68 |
| Calmar Ratio | 4.56 | 1.51 |
| Martin Ratio | 23.48 | 16.81 |
| Ulcer Index | 0.62% | 1.84% |
| Daily Std Dev | 5.57% | 10.67% |
| Max Drawdown | -25.72% | -46.47% |
| Current Drawdown | -0.20% | -4.26% |
Correlation
The correlation between HYHG and PDI is 0.25, 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. PDI - Performance Comparison
In the year-to-date period, HYHG achieves a 10.53% return, which is significantly lower than PDI's 23.36% return. Over the past 10 years, HYHG has underperformed PDI with an annualized return of 4.40%, while PDI has yielded a comparatively higher 7.83% 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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Risk-Adjusted Performance
HYHG vs. PDI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and PIMCO Dynamic Income Fund (PDI). 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. PDI - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.55%, less than PDI's 13.42% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.55% | 6.06% | 5.58% | 4.54% | 5.20% | 6.07% | 6.45% | 5.57% | 5.37% | 6.37% | 5.51% | 3.02% |
PDI PIMCO Dynamic Income Fund | 13.42% | 14.74% | 17.84% | 10.21% | 10.01% | 9.45% | 10.78% | 8.81% | 14.79% | 15.08% | 13.43% | 11.59% |
Drawdowns
HYHG vs. PDI - Drawdown Comparison
The maximum HYHG drawdown since its inception was -25.72%, smaller than the maximum PDI drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for HYHG and PDI. For additional features, visit the drawdowns tool.
Volatility
HYHG vs. PDI - Volatility Comparison
The current volatility for ProShares High Yield-Interest Rate Hedged (HYHG) is 1.03%, while PIMCO Dynamic Income Fund (PDI) has a volatility of 5.47%. This indicates that HYHG experiences smaller price fluctuations and is considered to be less risky than PDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.