HYIN vs. PIT

Last updated Jun 23, 2026

HYIN (WisdomTree Alternative Income Fund) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - HYIN is a Diversified Portfolio fund tracking the Gapstow Liquid Alternative Credit Index, while PIT is a Commodities fund actively managed by VanEck. HYIN is passively managed, while PIT is actively managed. Over the past 3 years, HYIN returned 3.99%/yr vs 19.51%/yr for PIT. At a 0.07 correlation, their price movements are largely independent. HYIN charges 3.20%/yr vs 0.55%/yr for PIT.

Performance

HYIN vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Alternative Income Fund (HYIN) and VanEck Commodity Strategy ETF (PIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYIN achieves a -7.55% return, which is significantly lower than PIT's 27.31% return.

HYIN

• 1D: -0.92%
• 1M: -1.38%
• YTD: -7.55%
• 6M: -7.18%
• 1Y: -7.28%
• 3Y*: 3.99%
• 5Y*: -1.11%
• 10Y*: —

PIT

• 1D: -0.75%
• 1M: -10.60%
• YTD: 27.31%
• 6M: 26.74%
• 1Y: 38.33%
• 3Y*: 19.51%
• 5Y*: —
• 10Y*: —

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

HYIN vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HYIN WisdomTree Alternative Income Fund	-7.55%	-0.46%	7.39%	21.84%	-1.87%
PIT VanEck Commodity Strategy ETF	27.31%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between HYIN and PIT is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.07

The correlation between HYIN and PIT shifts across timeframes, from -0.10 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HYIN vs. PIT — Risk / Return Rank

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

HYIN

HYIN Risk / Return Rank: 4
HYIN Sharpe Ratio Rank: 4
HYIN Sortino Ratio Rank: 4
HYIN Omega Ratio Rank: 4
HYIN Calmar Ratio Rank: 5
HYIN Martin Ratio Rank: 4

PIT

PIT Risk / Return Rank: 55
PIT Sharpe Ratio Rank: 54
PIT Sortino Ratio Rank: 48
PIT Omega Ratio Rank: 52
PIT Calmar Ratio Rank: 57
PIT Martin Ratio Rank: 62

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.

HYIN vs. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Alternative Income Fund (HYIN) and VanEck Commodity Strategy ETF (PIT). 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	PIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	1.78	-2.35
Sortino ratio: Return per unit of downside risk	-0.72	2.32	-3.04
Omega ratio: Gain probability vs. loss probability	0.92	1.32	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.47	2.74	-3.21
Martin ratio: Return relative to average drawdown	-0.95	10.88	-11.83

HYIN vs. PIT - Sharpe Ratio Comparison

The current HYIN Sharpe Ratio is -0.57, which is lower than the PIT Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of HYIN and PIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HYIN vs. PIT - Drawdown Comparison

The maximum HYIN drawdown since its inception was -31.10%, which is greater than PIT's maximum drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for HYIN and PIT.

Drawdown Indicators

	HYIN	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-31.10%	-14.05%	-17.05%
Max Drawdown (1Y) Largest decline over 1 year	-15.52%	-14.05%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-15.85%	-14.05%	-1.80%
Max Drawdown (5Y) Largest decline over 5 years	-31.10%	—	—
Current Drawdown Current decline from peak	-13.24%	-14.05%	+0.81%
Average Drawdown Average peak-to-trough decline	-9.04%	-4.07%	-4.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.69%	3.59%	+4.10%

Volatility

HYIN vs. PIT - Volatility Comparison

The current volatility for WisdomTree Alternative Income Fund (HYIN) is 3.34%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.67%. This indicates that HYIN experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYIN	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	4.67%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	10.29%	19.36%	-9.07%
Volatility (1Y) Calculated over the trailing 1-year period	12.94%	21.66%	-8.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	17.50%	-0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.76%	17.50%	-0.74%

HYIN vs. PIT - Expense Ratio Comparison

HYIN has a 3.20% expense ratio, which is higher than PIT's 0.55% expense ratio.

Dividends

HYIN vs. PIT - Dividend Comparison

HYIN's dividend yield for the trailing twelve months is around 13.60%, more than PIT's 7.00% yield.

Position	TTM	2025	2024	2023	2022	2021
HYIN WisdomTree Alternative Income Fund	13.60%	12.58%	12.59%	11.71%	11.34%	4.13%
PIT VanEck Commodity Strategy ETF	7.00%	8.92%	3.59%	6.44%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYIN and PIT in my portfolio?

HYIN and PIT have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYIN or PIT?

PIT has higher volatility (4.67%) compared to HYIN (3.34%). In terms of maximum drawdown, HYIN dropped -31.10% vs PIT's -14.05%.

Which ETF is better, HYIN or PIT?

On 3-year performance, PIT leads with 19.51% vs 3.99% for HYIN. On fees, PIT is cheaper at 0.55% per year. On volatility, HYIN has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYIN or PIT?

Over the 3-year period, PIT has performed better with a 19.51% return vs 3.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYIN or PIT?

PIT is cheaper with a 0.55% expense ratio, compared with 3.20% for HYIN.

Which ETF pays a higher dividend yield, HYIN or PIT?

HYIN has the higher dividend yield at 13.60%, compared with 7.00% for PIT.

What is the main difference between HYIN and PIT?

HYIN is categorized as Diversified Portfolio, while PIT is Commodities. They also come from different issuers: WisdomTree and VanEck. Their fees differ too: 3.20% for HYIN and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.78 vs -0.57), 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.