HYIN vs. MDIV
Compare and contrast key facts about WisdomTree Alternative Income Fund (HYIN) and First Trust Multi-Asset Diversified Income Index Fund (MDIV).
HYIN and MDIV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYIN is a passively managed fund by WisdomTree that tracks the performance of the Gapstow Liquid Alternative Credit Index. It was launched on May 6, 2021. MDIV is a passively managed fund by First Trust that tracks the performance of the NASDAQ US Multi-Asset Diversified Income Index. It was launched on Aug 14, 2012. Both HYIN and MDIV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYIN or MDIV.
Key characteristics
| HYIN | MDIV | |
|---|---|---|
| YTD Return | 8.37% | 11.64% |
| 1Y Return | 14.89% | 17.97% |
| 3Y Return (Ann) | 0.36% | 6.46% |
| Sharpe Ratio | 1.44 | 2.55 |
| Sortino Ratio | 2.00 | 3.78 |
| Omega Ratio | 1.26 | 1.50 |
| Calmar Ratio | 1.40 | 5.97 |
| Martin Ratio | 8.38 | 20.95 |
| Ulcer Index | 2.22% | 0.99% |
| Daily Std Dev | 12.89% | 8.16% |
| Max Drawdown | -31.11% | -48.51% |
| Current Drawdown | -2.63% | -0.60% |
Correlation
The correlation between HYIN and MDIV is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
HYIN vs. MDIV - Performance Comparison
In the year-to-date period, HYIN achieves a 8.37% return, which is significantly lower than MDIV's 11.64% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYIN vs. MDIV - Expense Ratio Comparison
HYIN has a 3.20% expense ratio, which is higher than MDIV's 0.73% expense ratio.
Risk-Adjusted Performance
HYIN vs. MDIV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Alternative Income Fund (HYIN) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). 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.
Dividends
HYIN vs. MDIV - Dividend Comparison
HYIN's dividend yield for the trailing twelve months is around 12.18%, more than MDIV's 6.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | 12.18% | 11.71% | 11.34% | 4.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MDIV First Trust Multi-Asset Diversified Income Index Fund | 6.34% | 6.47% | 6.70% | 5.31% | 6.01% | 5.91% | 6.76% | 6.05% | 6.36% | 6.16% | 5.74% | 5.68% |
Drawdowns
HYIN vs. MDIV - Drawdown Comparison
The maximum HYIN drawdown since its inception was -31.11%, smaller than the maximum MDIV drawdown of -48.51%. Use the drawdown chart below to compare losses from any high point for HYIN and MDIV. For additional features, visit the drawdowns tool.
Volatility
HYIN vs. MDIV - Volatility Comparison
WisdomTree Alternative Income Fund (HYIN) has a higher volatility of 3.09% compared to First Trust Multi-Asset Diversified Income Index Fund (MDIV) at 2.31%. This indicates that HYIN's price experiences larger fluctuations and is considered to be riskier than MDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.