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 managed by Franklin Templeton. Over the past 10 years, HYI returned 5.17%/yr vs 7.49%/yr for FKINX. At a 0.35 correlation, their price movements are largely independent. HYI charges 0.01%/yr vs 0.62%/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 -0.93% return, which is significantly lower than FKINX's 4.34% return. Over the past 10 years, HYI has underperformed FKINX with an annualized return of 5.17%, while FKINX has yielded a comparatively higher 7.49% annualized return.
HYI
- 1D
- 0.00%
- 1M
- 0.43%
- YTD
- -0.93%
- 6M
- -0.30%
- 1Y
- -1.72%
- 3Y*
- 6.21%
- 5Y*
- 1.70%
- 10Y*
- 5.17%
FKINX
- 1D
- 0.00%
- 1M
- -0.34%
- YTD
- 4.34%
- 6M
- 4.34%
- 1Y
- 11.99%
- 3Y*
- 10.00%
- 5Y*
- 6.33%
- 10Y*
- 7.49%
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 | -0.93% | 4.09% | 7.58% | 6.72% | -13.48% | 10.04% | 6.78% | 27.90% | -6.36% | 8.57% |
FKINX Franklin Income Fund Class A1 | 4.34% | 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 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
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 | -2.51 | ||
| Sortino ratioReturn per unit of downside risk | -3.65 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.47 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 3.65 | -3.86 |
| Martin ratioReturn relative to average drawdown | -0.40 | 14.63 | -15.04 |
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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 | -5.43% | -1.17% | -4.26% |
Average DrawdownAverage peak-to-trough decline | -5.80% | -3.71% | -2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 0.85% | +3.42% |
Volatility
HYI vs. FKINX - Volatility Comparison
The current volatility for Western Asset High Yield Opportunity Fund Inc (HYI) is 1.12%, while Franklin Income Fund Class A1 (FKINX) has a volatility of 1.65%. This indicates that HYI experiences smaller price fluctuations and is considered to be less risky 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 | 1.12% | 1.65% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 5.33% | 3.86% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.92% | 5.55% | +1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.27% | 7.88% | +3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.93% | 9.21% | +3.72% |
HYI vs. FKINX - Expense Ratio Comparison
HYI has a 0.02% expense ratio, which is lower than FKINX's 0.62% expense ratio.
Dividends
HYI vs. FKINX - Dividend Comparison
HYI's dividend yield for the trailing twelve months is around 10.87%, more than FKINX's 5.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FKINX Franklin Income Fund Class A1 | 5.57% | 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 | 10.87% | 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 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FKINX has higher volatility (1.65%) compared to HYI (1.12%). In terms of maximum drawdown, HYI dropped -36.06% vs FKINX's -43.18%.
FKINX currently has the higher Sharpe Ratio (2.26 vs -0.25), 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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