HYI vs. HIO
Compare and contrast key facts about Western Asset High Yield Opportunity Fund Inc (HYI) and Western Asset High Income Opportunity Fund Inc (HIO).
HYI is managed by Franklin Templeton. It was launched on Jul 20, 2010. HIO is managed by Franklin Templeton. It was launched on Jan 1, 2009.
Performance
HYI vs. HIO - Performance Comparison
Loading graphics...
HYI vs. HIO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYI Western Asset High Yield Opportunity Fund Inc | -1.80% | 4.09% | 7.58% | 6.72% | -13.48% | 10.04% | 6.78% | 27.90% | -6.36% | 8.57% |
HIO Western Asset High Income Opportunity Fund Inc | 0.68% | 5.33% | 13.58% | 8.07% | -17.09% | 12.80% | 6.07% | 24.23% | -7.60% | 8.97% |
Returns By Period
In the year-to-date period, HYI achieves a -1.80% return, which is significantly lower than HIO's 0.68% return. Both investments have delivered pretty close results over the past 10 years, with HYI having a 5.98% annualized return and HIO not far ahead at 6.25%.
HYI
- 1D
- 2.10%
- 1M
- -3.45%
- YTD
- -1.80%
- 6M
- -3.99%
- 1Y
- -0.34%
- 3Y*
- 6.11%
- 5Y*
- 1.93%
- 10Y*
- 5.98%
HIO
- 1D
- 0.00%
- 1M
- -2.50%
- YTD
- 0.68%
- 6M
- -0.98%
- 1Y
- 1.45%
- 3Y*
- 9.66%
- 5Y*
- 3.20%
- 10Y*
- 6.25%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
HYI vs. HIO - Expense Ratio Comparison
Both HYI and HIO have an expense ratio of 0.02%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
HYI vs. HIO — Risk / Return Rank
HYI
HIO
HYI vs. HIO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset High Yield Opportunity Fund Inc (HYI) and Western Asset High Income Opportunity Fund Inc (HIO). 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 | HIO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.04 | 0.11 | -0.15 |
Sortino ratioReturn per unit of downside risk | 0.00 | 0.23 | -0.23 |
Omega ratioGain probability vs. loss probability | 1.00 | 1.04 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.17 | -0.23 |
Martin ratioReturn relative to average drawdown | -0.12 | 0.57 | -0.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| HYI | HIO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.04 | 0.11 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.25 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.39 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.34 | +0.01 |
Correlation
The correlation between HYI and HIO is 0.45, 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. HIO - Dividend Comparison
HYI's dividend yield for the trailing twelve months is around 10.67%, less than HIO's 11.74% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYI Western Asset High Yield Opportunity Fund Inc | 10.67% | 10.22% | 9.64% | 9.40% | 9.09% | 7.19% | 7.35% | 6.87% | 8.10% | 7.81% | 8.73% | 9.36% |
HIO Western Asset High Income Opportunity Fund Inc | 11.74% | 11.48% | 10.84% | 9.90% | 9.11% | 7.02% | 7.86% | 6.91% | 7.31% | 7.04% | 8.44% | 9.08% |
Drawdowns
HYI vs. HIO - Drawdown Comparison
The maximum HYI drawdown since its inception was -36.06%, smaller than the maximum HIO drawdown of -49.69%. Use the drawdown chart below to compare losses from any high point for HYI and HIO.
Loading graphics...
Drawdown Indicators
| HYI | HIO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.06% | -49.69% | +13.63% |
Max Drawdown (1Y)Largest decline over 1 year | -8.19% | -10.13% | +1.94% |
Max Drawdown (5Y)Largest decline over 5 years | -26.35% | -26.18% | -0.17% |
Max Drawdown (10Y)Largest decline over 10 years | -36.06% | -40.57% | +4.51% |
Current DrawdownCurrent decline from peak | -6.26% | -4.05% | -2.21% |
Average DrawdownAverage peak-to-trough decline | -5.81% | -6.48% | +0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 3.45% | +0.14% |
Volatility
HYI vs. HIO - Volatility Comparison
The current volatility for Western Asset High Yield Opportunity Fund Inc (HYI) is 3.77%, while Western Asset High Income Opportunity Fund Inc (HIO) has a volatility of 4.97%. This indicates that HYI experiences smaller price fluctuations and is considered to be less risky than HIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| HYI | HIO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 4.97% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 5.28% | 7.70% | -2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.37% | 13.75% | -5.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.26% | 12.75% | -1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.97% | 15.97% | -3.00% |