HYI vs. SDHY
HYI (Western Asset High Yield Opportunity Fund Inc) and SDHY (PGIM Short Duration High Yield Opportunities Fund) are both High Yield Bonds funds. Over the past 5 years, HYI returned 1.16%/yr vs 4.54%/yr for SDHY. Their 0.40 correlation means their historical movements had little consistent relationship. HYI charges 0.01%/yr vs 0.70%/yr for SDHY.
Performance
HYI vs. SDHY - 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 SDHY's 2.19% 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%
SDHY
- 1D
- 0.06%
- 1M
- -0.25%
- 6M
- 1.33%
- YTD
- 2.19%
- 1Y
- 5.28%
- 3Y*
- 10.64%
- 5Y*
- 4.54%
- 10Y*
- —
- ALL TIME*
- 4.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $731.85K | $714.02K | $684.36K | |
| $882.45K | $940.41K | $1.08M |
HYI vs. SDHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HYI Western Asset High Yield Opportunity Fund Inc | -0.41% | 4.09% | 7.58% | 6.72% | -13.48% | 10.04% | 1.75% |
SDHY PGIM Short Duration High Yield Opportunities Fund | 2.19% | 10.37% | 16.68% | 11.40% | -13.33% | -3.05% | 2.35% |
Correlation
The correlation between HYI and SDHY is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2020 | 0.40 |
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Return for Risk
HYI vs. SDHY — Risk / Return Rank
HYI
SDHY
HYI vs. SDHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Western Asset High Yield Opportunity Fund Inc (HYI) and PGIM Short Duration High Yield Opportunities Fund (SDHY). 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 | SDHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.14 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 0.84 | -1.14 |
| Martin ratioReturn relative to average drawdown | -0.53 | 2.35 | -2.88 |
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Drawdowns
HYI vs. SDHY - Drawdown Comparison
The maximum HYI drawdown since its inception was -36.06%, which is greater than SDHY's maximum drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for HYI and SDHY.
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Drawdown Indicators
| HYI | SDHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.06% | -22.65% | -13.41% |
Max Drawdown (1Y)Largest decline over 1 year | -8.19% | -6.29% | -1.90% |
Max Drawdown (3Y)Largest decline over 3 years | -8.19% | -9.24% | +1.05% |
Max Drawdown (5Y)Largest decline over 5 years | -26.35% | -21.05% | -5.30% |
Max Drawdown (10Y)Largest decline over 10 years | -36.06% | — | — |
Current DrawdownCurrent decline from peak | -4.94% | -0.80% | -4.14% |
Average DrawdownAverage peak-to-trough decline | -5.79% | -6.55% | +0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.55% | 2.25% | +2.30% |
Volatility
HYI vs. SDHY - Volatility Comparison
The current volatility for Western Asset High Yield Opportunity Fund Inc (HYI) is 1.84%, while PGIM Short Duration High Yield Opportunities Fund (SDHY) has a volatility of 1.96%. This indicates that HYI experiences smaller price fluctuations and is considered to be less risky than SDHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYI | SDHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 1.96% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 5.55% | 5.95% | -0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.14% | 7.45% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.23% | 10.28% | +0.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.90% | 10.91% | +1.99% |
HYI vs. SDHY - Expense Ratio Comparison
HYI has a 0.02% expense ratio, which is lower than SDHY's 0.70% expense ratio.
Dividends
HYI vs. SDHY - Dividend Comparison
HYI's dividend yield for the trailing twelve months is around 10.91%, more than SDHY's 8.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SDHY PGIM Short Duration High Yield Opportunities Fund | 8.02% | 7.88% | 8.04% | 8.64% | 8.82% | 7.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYI and SDHY have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDHY has higher volatility (1.96%) compared to HYI (1.84%). In terms of maximum drawdown, HYI dropped -36.06% vs SDHY's -22.65%.
SDHY currently has the higher Sharpe Ratio (0.71 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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