HYI vs. FSHGX

Last updated Apr 3, 2026

Compare and contrast key facts about Western Asset High Yield Opportunity Fund Inc (HYI) and Fidelity SAI High Income Fund (FSHGX).

HYI is managed by Franklin Templeton. It was launched on Jul 20, 2010. FSHGX is managed by Fidelity. It was launched on May 20, 2021.

Performance

HYI vs. FSHGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Western Asset High Yield Opportunity Fund Inc (HYI) and Fidelity SAI High Income Fund (FSHGX). The values are adjusted to include any dividend payments, if applicable.

HYI vs. FSHGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HYI Western Asset High Yield Opportunity Fund Inc	-2.25%	4.09%	7.58%	6.72%	-13.48%	7.85%
FSHGX Fidelity SAI High Income Fund	0.83%	10.26%	9.79%	10.82%	-12.03%	2.72%

Returns By Period

In the year-to-date period, HYI achieves a -2.25% return, which is significantly lower than FSHGX's 0.83% return.

HYI

• 1D: -0.75%
• 1M: -2.86%
• YTD: -2.25%
• 6M: -3.78%
• 1Y: -0.64%
• 3Y*: 5.82%
• 5Y*: 1.84%
• 10Y*: 6.00%

FSHGX

• 1D: 0.32%
• 1M: -0.51%
• YTD: 0.83%
• 6M: 2.22%
• 1Y: 9.79%
• 3Y*: 9.55%
• 5Y*: —
• 10Y*: —

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

HYI vs. FSHGX - Expense Ratio Comparison

HYI has a 0.02% expense ratio, which is lower than FSHGX's 0.60% expense ratio.

FSHGX

Fidelity SAI High Income Fund

HYI

Western Asset High Yield Opportunity Fund Inc

Return for Risk

HYI vs. FSHGX — Risk / Return Rank

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

HYI

HYI Risk / Return Rank: 3
HYI Sharpe Ratio Rank: 3
HYI Sortino Ratio Rank: 3
HYI Omega Ratio Rank: 3
HYI Calmar Ratio Rank: 3
HYI Martin Ratio Rank: 3

FSHGX

FSHGX Risk / Return Rank: 95
FSHGX Sharpe Ratio Rank: 95
FSHGX Sortino Ratio Rank: 96
FSHGX Omega Ratio Rank: 96
FSHGX Calmar Ratio Rank: 93
FSHGX Martin Ratio Rank: 94

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.

HYI vs. FSHGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Western Asset High Yield Opportunity Fund Inc (HYI) and Fidelity SAI High Income Fund (FSHGX). 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.

	HYI	FSHGX	Difference
Sharpe ratio Return per unit of total volatility	-0.08	2.42	-2.49
Sortino ratio Return per unit of downside risk	-0.05	3.58	-3.62
Omega ratio Gain probability vs. loss probability	0.99	1.59	-0.60
Calmar ratio Return relative to maximum drawdown	-0.08	3.20	-3.28
Martin ratio Return relative to average drawdown	-0.18	13.59	-13.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYI vs. FSHGX - Sharpe Ratio Comparison

The current HYI Sharpe Ratio is -0.08, which is lower than the FSHGX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of HYI and FSHGX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HYI	FSHGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.08	2.42	-2.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.80	-0.45

Correlation

The correlation between HYI and FSHGX is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HYI vs. FSHGX - Dividend Comparison

HYI's dividend yield for the trailing twelve months is around 10.72%, more than FSHGX's 6.40% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYI Western Asset High Yield Opportunity Fund Inc	10.72%	10.22%	9.64%	9.40%	9.09%	7.19%	7.35%	6.87%	8.10%	7.81%	8.73%	9.36%
FSHGX Fidelity SAI High Income Fund	6.40%	6.34%	6.15%	5.47%	3.99%	2.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HYI vs. FSHGX - Drawdown Comparison

The maximum HYI drawdown since its inception was -36.06%, which is greater than FSHGX's maximum drawdown of -15.77%. Use the drawdown chart below to compare losses from any high point for HYI and FSHGX.

Drawdown Indicators

	HYI	FSHGX	Difference
Max Drawdown Largest peak-to-trough decline	-36.06%	-15.77%	-20.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.19%	-2.31%	-5.88%
Max Drawdown (5Y) Largest decline over 5 years	-26.35%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.06%	—	—
Current Drawdown Current decline from peak	-6.70%	-0.82%	-5.88%
Average Drawdown Average peak-to-trough decline	-5.81%	-3.95%	-1.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	0.75%	+2.88%

Volatility

HYI vs. FSHGX - Volatility Comparison

Western Asset High Yield Opportunity Fund Inc (HYI) has a higher volatility of 3.79% compared to Fidelity SAI High Income Fund (FSHGX) at 1.86%. This indicates that HYI's price experiences larger fluctuations and is considered to be riskier than FSHGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYI	FSHGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	1.86%	+1.93%
Volatility (6M) Calculated over the trailing 6-month period	5.30%	2.55%	+2.75%
Volatility (1Y) Calculated over the trailing 1-year period	8.40%	4.12%	+4.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.26%	5.28%	+5.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.96%	5.28%	+7.68%