HYSZX vs. VWEHX

Last updated Jun 24, 2026

HYSZX (PGIM Short Duration High Yield Income Fund) and VWEHX (Vanguard High-Yield Corporate Fund Investor Shares) are both High Yield Bonds funds. Over the past 10 years, HYSZX returned 4.94%/yr vs 5.17%/yr for VWEHX. A 0.79 correlation means they provide meaningful diversification when combined. HYSZX charges 0.75%/yr vs 0.22%/yr for VWEHX.

Performance

HYSZX vs. VWEHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Short Duration High Yield Income Fund (HYSZX) and Vanguard High-Yield Corporate Fund Investor Shares (VWEHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYSZX achieves a 1.37% return, which is significantly higher than VWEHX's 0.97% return. Both investments have delivered pretty close results over the past 10 years, with HYSZX having a 4.94% annualized return and VWEHX not far ahead at 5.17%.

HYSZX

• 1D: 0.00%
• 1M: 0.66%
• YTD: 1.37%
• 6M: 2.02%
• 1Y: 5.41%
• 3Y*: 7.43%
• 5Y*: 4.05%
• 10Y*: 4.94%

VWEHX

• 1D: 0.00%
• 1M: 0.72%
• YTD: 0.97%
• 6M: 1.67%
• 1Y: 6.24%
• 3Y*: 8.38%
• 5Y*: 4.01%
• 10Y*: 5.17%

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

HYSZX vs. VWEHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYSZX PGIM Short Duration High Yield Income Fund	1.37%	7.84%	6.49%	9.57%	-6.46%	5.48%	4.19%	11.78%	1.20%	4.80%
VWEHX Vanguard High-Yield Corporate Fund Investor Shares	0.97%	9.38%	6.33%	11.66%	-9.04%	2.97%	5.30%	15.81%	-2.93%	7.05%

Correlation

The correlation between HYSZX and VWEHX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.79

The correlation between HYSZX and VWEHX has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

Return for Risk

HYSZX vs. VWEHX — Risk / Return Rank

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

HYSZX

HYSZX Risk / Return Rank: 68
HYSZX Sharpe Ratio Rank: 50
HYSZX Sortino Ratio Rank: 81
HYSZX Omega Ratio Rank: 78
HYSZX Calmar Ratio Rank: 56
HYSZX Martin Ratio Rank: 74

VWEHX

VWEHX Risk / Return Rank: 66
VWEHX Sharpe Ratio Rank: 53
VWEHX Sortino Ratio Rank: 78
VWEHX Omega Ratio Rank: 80
VWEHX Calmar Ratio Rank: 49
VWEHX Martin Ratio Rank: 73

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.

HYSZX vs. VWEHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Short Duration High Yield Income Fund (HYSZX) and Vanguard High-Yield Corporate Fund Investor Shares (VWEHX). 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.

	HYSZX	VWEHX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.98	-0.04
Sortino ratio: Return per unit of downside risk	3.51	3.40	+0.11
Omega ratio: Gain probability vs. loss probability	1.46	1.48	-0.02
Calmar ratio: Return relative to maximum drawdown	2.76	2.56	+0.20
Martin ratio: Return relative to average drawdown	13.19	12.93	+0.25

HYSZX vs. VWEHX - Sharpe Ratio Comparison

The current HYSZX Sharpe Ratio is 1.94, which is comparable to the VWEHX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of HYSZX and VWEHX, 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

HYSZX vs. VWEHX - Drawdown Comparison

The maximum HYSZX drawdown since its inception was -18.31%, smaller than the maximum VWEHX drawdown of -30.17%. Use the drawdown chart below to compare losses from any high point for HYSZX and VWEHX.

Drawdown Indicators

	HYSZX	VWEHX	Difference
Max Drawdown Largest peak-to-trough decline	-18.31%	-30.17%	+11.86%
Max Drawdown (1Y) Largest decline over 1 year	-2.01%	-2.52%	+0.51%
Max Drawdown (3Y) Largest decline over 3 years	-2.82%	-3.33%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-9.77%	-13.83%	+4.06%
Max Drawdown (10Y) Largest decline over 10 years	-18.31%	-19.69%	+1.38%
Current Drawdown Current decline from peak	-0.24%	-0.18%	-0.06%
Average Drawdown Average peak-to-trough decline	-1.18%	-4.29%	+3.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	0.50%	-0.08%

Volatility

HYSZX vs. VWEHX - Volatility Comparison

PGIM Short Duration High Yield Income Fund (HYSZX) and Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) have volatilities of 0.87% and 0.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYSZX	VWEHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	0.86%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	2.60%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	2.88%	3.27%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.88%	4.91%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.23%	5.26%	-1.03%

HYSZX vs. VWEHX - Expense Ratio Comparison

HYSZX has a 0.75% expense ratio, which is higher than VWEHX's 0.22% expense ratio.

Dividends

HYSZX vs. VWEHX - Dividend Comparison

HYSZX's dividend yield for the trailing twelve months is around 6.39%, more than VWEHX's 6.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYSZX PGIM Short Duration High Yield Income Fund	6.39%	6.45%	6.27%	4.84%	5.01%	4.56%	5.00%	5.60%	5.94%	5.73%	6.33%	6.76%
VWEHX Vanguard High-Yield Corporate Fund Investor Shares	6.27%	6.15%	6.11%	5.68%	5.11%	3.43%	4.62%	5.24%	5.94%	5.29%	5.41%	6.42%

Frequently Asked Questions

Can I hold both HYSZX and VWEHX in my portfolio?

HYSZX and VWEHX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYSZX or VWEHX?

HYSZX has higher volatility (0.87%) compared to VWEHX (0.86%). In terms of maximum drawdown, HYSZX dropped -18.31% vs VWEHX's -30.17%.

Which has better risk-adjusted returns?

VWEHX currently has the higher Sharpe Ratio (1.98 vs 1.94), 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.