HYIN vs. CEFS
HYIN (WisdomTree Alternative Income Fund) and CEFS (Saba Closed-End Funds ETF) are both exchange-traded funds - HYIN is a Diversified Portfolio fund tracking the Gapstow Liquid Alternative Credit Index, while CEFS is a Event Driven fund actively managed by Exchange Traded Concepts. HYIN is passively managed, while CEFS is actively managed. Over the past 5 years, HYIN returned -1.13%/yr vs 14.29%/yr for CEFS. A 0.56 correlation means they provide meaningful diversification when combined. HYIN charges 3.20%/yr vs 2.61%/yr for CEFS.
Performance
HYIN vs. CEFS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HYIN achieves a -6.85% return, which is significantly lower than CEFS's 15.16% return.
HYIN
- 1D
- 0.76%
- 1M
- -0.63%
- YTD
- -6.85%
- 6M
- -5.87%
- 1Y
- -6.58%
- 3Y*
- 4.25%
- 5Y*
- -1.13%
- 10Y*
- —
CEFS
- 1D
- -0.23%
- 1M
- 4.16%
- YTD
- 15.16%
- 6M
- 16.21%
- 1Y
- 26.43%
- 3Y*
- 22.09%
- 5Y*
- 14.29%
- 10Y*
- —
HYIN vs. CEFS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | -6.85% | -0.46% | 7.39% | 21.84% | -21.14% | 2.73% |
CEFS Saba Closed-End Funds ETF | 15.16% | 16.67% | 23.48% | 20.99% | -7.08% | 7.83% |
Correlation
The correlation between HYIN and CEFS 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 | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since May 6, 2021 | 0.56 |
The correlation between HYIN and CEFS shifts across timeframes, from 0.43 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HYIN vs. CEFS — Risk / Return Rank
HYIN
CEFS
HYIN vs. CEFS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Alternative Income Fund (HYIN) and Saba Closed-End Funds ETF (CEFS). 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.
| HYIN | CEFS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.09 | ||
| Sortino ratioReturn per unit of downside risk | -4.34 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.49 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 4.68 | -5.11 |
| Martin ratioReturn relative to average drawdown | -0.85 | 17.98 | -18.84 |
Loading charts...
Drawdowns
HYIN vs. CEFS - Drawdown Comparison
The maximum HYIN drawdown since its inception was -31.10%, smaller than the maximum CEFS drawdown of -38.99%. Use the drawdown chart below to compare losses from any high point for HYIN and CEFS.
Loading charts...
Drawdown Indicators
| HYIN | CEFS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.10% | -38.99% | +7.89% |
Max Drawdown (1Y)Largest decline over 1 year | -15.52% | -5.67% | -9.85% |
Max Drawdown (3Y)Largest decline over 3 years | -15.85% | -13.37% | -2.48% |
Max Drawdown (5Y)Largest decline over 5 years | -31.10% | -16.85% | -14.25% |
Current DrawdownCurrent decline from peak | -12.58% | -0.23% | -12.35% |
Average DrawdownAverage peak-to-trough decline | -9.04% | -3.65% | -5.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.73% | 1.47% | +6.26% |
Volatility
HYIN vs. CEFS - Volatility Comparison
The current volatility for WisdomTree Alternative Income Fund (HYIN) is 3.44%, while Saba Closed-End Funds ETF (CEFS) has a volatility of 4.04%. This indicates that HYIN experiences smaller price fluctuations and is considered to be less risky than CEFS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HYIN | CEFS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 4.04% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 10.31% | 9.01% | +1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.94% | 10.34% | +2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.78% | 13.16% | +3.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.76% | 15.33% | +1.43% |
HYIN vs. CEFS - Expense Ratio Comparison
HYIN has a 3.20% expense ratio, which is higher than CEFS's 2.61% expense ratio.
Dividends
HYIN vs. CEFS - Dividend Comparison
HYIN's dividend yield for the trailing twelve months is around 13.50%, more than CEFS's 7.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CEFS Saba Closed-End Funds ETF | 7.01% | 7.84% | 8.79% | 9.20% | 11.32% | 10.73% | 8.61% | 8.10% | 10.43% | 5.02% |
HYIN WisdomTree Alternative Income Fund | 13.50% | 12.58% | 12.59% | 11.71% | 11.34% | 4.13% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYIN and CEFS 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.
CEFS has higher volatility (4.04%) compared to HYIN (3.44%). In terms of maximum drawdown, HYIN dropped -31.10% vs CEFS's -38.99%.
On 5-year performance, CEFS leads with 14.29% vs -1.13% for HYIN. On fees, CEFS is cheaper at 2.61% per year. On volatility, HYIN has been the lower-risk option at 3.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CEFS has performed better with a 14.29% return vs -1.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CEFS is cheaper with a 2.61% expense ratio, compared with 3.20% for HYIN.
HYIN has the higher dividend yield at 13.50%, compared with 7.01% for CEFS.
HYIN is categorized as Diversified Portfolio, while CEFS is Event Driven. They also come from different issuers: WisdomTree and Exchange Traded Concepts. Their fees differ too: 3.20% for HYIN and 2.61% for CEFS.
CEFS currently has the higher Sharpe Ratio (2.57 vs -0.51), 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.
Find the right allocation for HYIN and CEFS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer