HYI vs. FKINX
HYI (Western Asset High Yield Opportunity Fund Inc) and FKINX (Franklin Income Fund Class A1) are both mutual funds - HYI is a High Yield Bonds fund managed by Franklin Templeton, while FKINX is a Diversified Portfolio fund actively managed by Franklin Templeton. Over the past 10 years, HYI returned 5.05%/yr vs 7.18%/yr for FKINX. Their 0.35 correlation means their historical movements had little consistent relationship. HYI charges 0.01%/yr vs 0.61%/yr for FKINX.
Performance
HYI vs. FKINX - Performance Comparison
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Returns By Period
In the year-to-date period, HYI achieves a -0.41% return, which is significantly lower than FKINX's 5.62% return. Over the past 10 years, HYI has underperformed FKINX with an annualized return of 5.05%, while FKINX has yielded a comparatively higher 7.18% annualized return.
HYI
- 1D
- 0.58%
- 1M
- -0.61%
- 6M
- -1.25%
- YTD
- -0.41%
- 1Y
- -2.40%
- 3Y*
- 6.02%
- 5Y*
- 1.16%
- 10Y*
- 5.05%
- ALL TIME*
- 4.60%
FKINX
- 1D
- 0.39%
- 1M
- 0.00%
- 6M
- 2.63%
- YTD
- 5.62%
- 1Y
- 12.34%
- 3Y*
- 9.47%
- 5Y*
- 6.43%
- 10Y*
- 7.18%
- ALL TIME*
- 7.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $731.85K | $714.02K | $684.36K |
HYI vs. FKINX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYI Western Asset High Yield Opportunity Fund Inc | -0.41% | 4.09% | 7.58% | 6.72% | -13.48% | 10.04% | 6.78% | 27.90% | -6.36% | 8.57% |
FKINX Franklin Income Fund Class A1 | 5.62% | 12.24% | 7.12% | 8.65% | -5.29% | 17.21% | 3.57% | 15.75% | -5.54% | 8.43% |
Correlation
The correlation between HYI and FKINX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2010 | 0.35 |
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Return for Risk
HYI vs. FKINX — Risk / Return Rank
HYI
FKINX
HYI vs. FKINX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset High Yield Opportunity Fund Inc (HYI) and Franklin Income Fund Class A1 (FKINX). 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.
| HYI | FKINX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.90 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.48 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 3.63 | -3.92 |
| Martin ratioReturn relative to average drawdown | -0.53 | 14.79 | -15.32 |
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Drawdowns
HYI vs. FKINX - Drawdown Comparison
The maximum HYI drawdown since its inception was -36.06%, smaller than the maximum FKINX drawdown of -43.18%. Use the drawdown chart below to compare losses from any high point for HYI and FKINX.
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Drawdown Indicators
| HYI | FKINX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.06% | -43.18% | +7.12% |
Max Drawdown (1Y)Largest decline over 1 year | -8.19% | -3.43% | -4.76% |
Max Drawdown (3Y)Largest decline over 3 years | -8.19% | -7.42% | -0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -26.35% | -13.20% | -13.15% |
Max Drawdown (10Y)Largest decline over 10 years | -36.06% | -23.91% | -12.15% |
Current DrawdownCurrent decline from peak | -4.94% | 0.00% | -4.94% |
Average DrawdownAverage peak-to-trough decline | -5.79% | -3.70% | -2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.55% | 0.84% | +3.71% |
Volatility
HYI vs. FKINX - Volatility Comparison
Western Asset High Yield Opportunity Fund Inc (HYI) has a higher volatility of 1.84% compared to Franklin Income Fund Class A1 (FKINX) at 1.60%. This indicates that HYI's price experiences larger fluctuations and is considered to be riskier than FKINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYI | FKINX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 1.60% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 5.55% | 3.94% | +1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.14% | 5.48% | +1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.23% | 7.84% | +3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.90% | 9.17% | +3.73% |
HYI vs. FKINX - Expense Ratio Comparison
HYI has a 0.02% expense ratio, which is lower than FKINX's 0.61% expense ratio.
Dividends
HYI vs. FKINX - Dividend Comparison
HYI's dividend yield for the trailing twelve months is around 10.91%, more than FKINX's 5.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FKINX Franklin Income Fund Class A1 | 5.11% | 5.58% | 5.59% | 5.52% | 5.22% | 6.52% | 5.22% | 5.11% | 5.34% | 5.04% | 5.19% | 5.71% |
HYI Western Asset High Yield Opportunity Fund Inc | 10.91% | 10.22% | 9.64% | 9.40% | 9.09% | 7.19% | 7.35% | 6.87% | 8.10% | 7.81% | 8.73% | 9.36% |
Frequently Asked Questions
HYI and FKINX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYI has higher volatility (1.84%) compared to FKINX (1.60%). In terms of maximum drawdown, HYI dropped -36.06% vs FKINX's -43.18%.
FKINX currently has the higher Sharpe Ratio (2.30 vs -0.34), 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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