HYT vs. WIW
HYT (BlackRock Corporate High Yield Fund) and WIW (Western Asset Inflation-Linked Opportunities & Income Fund) are both mutual funds - HYT is a High Yield Bonds fund actively managed by BlackRock, while WIW is a Inflation-Protected Bonds fund. Over the past 10 years, HYT returned 7.62%/yr vs 3.91%/yr for WIW. At a 0.23 correlation, their price movements are largely independent.
Performance
HYT vs. WIW - Performance Comparison
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Returns By Period
In the year-to-date period, HYT achieves a 1.55% return, which is significantly lower than WIW's 1.83% return. Over the past 10 years, HYT has outperformed WIW with an annualized return of 7.62%, while WIW has yielded a comparatively lower 3.91% annualized return.
HYT
- 1D
- 0.95%
- 1M
- 0.68%
- YTD
- 1.55%
- 6M
- 1.43%
- 1Y
- -1.71%
- 3Y*
- 9.67%
- 5Y*
- 2.68%
- 10Y*
- 7.62%
WIW
- 1D
- 0.24%
- 1M
- -0.55%
- YTD
- 1.83%
- 6M
- 1.95%
- 1Y
- 5.05%
- 3Y*
- 7.01%
- 5Y*
- 0.95%
- 10Y*
- 3.91%
HYT vs. WIW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYT BlackRock Corporate High Yield Fund | 1.55% | 0.06% | 14.43% | 19.92% | -22.58% | 16.62% | 11.55% | 31.19% | -7.81% | 8.99% |
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 1.83% | 13.17% | 3.83% | 5.10% | -25.30% | 17.66% | 11.46% | 18.27% | -7.57% | 6.46% |
Correlation
The correlation between HYT and WIW is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2004 | 0.23 |
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Return for Risk
HYT vs. WIW — Risk / Return Rank
HYT
WIW
HYT vs. WIW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Corporate High Yield Fund (HYT) and Western Asset Inflation-Linked Opportunities & Income Fund (WIW). 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.
| HYT | WIW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.14 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 1.40 | -1.57 |
| Martin ratioReturn relative to average drawdown | -0.40 | 3.65 | -4.05 |
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Drawdowns
HYT vs. WIW - Drawdown Comparison
The maximum HYT drawdown since its inception was -56.95%, which is greater than WIW's maximum drawdown of -29.49%. Use the drawdown chart below to compare losses from any high point for HYT and WIW.
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Drawdown Indicators
| HYT | WIW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.95% | -29.49% | -27.46% |
Max Drawdown (1Y)Largest decline over 1 year | -10.17% | -3.61% | -6.56% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -8.65% | -5.30% |
Max Drawdown (5Y)Largest decline over 5 years | -29.05% | -29.49% | +0.44% |
Max Drawdown (10Y)Largest decline over 10 years | -42.59% | -29.49% | -13.10% |
Current DrawdownCurrent decline from peak | -4.56% | -6.06% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -5.90% | -7.96% | +2.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.32% | 1.38% | +2.94% |
Volatility
HYT vs. WIW - Volatility Comparison
BlackRock Corporate High Yield Fund (HYT) has a higher volatility of 2.04% compared to Western Asset Inflation-Linked Opportunities & Income Fund (WIW) at 1.65%. This indicates that HYT's price experiences larger fluctuations and is considered to be riskier than WIW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYT | WIW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.04% | 1.65% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 6.92% | 4.17% | +2.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.88% | 6.90% | +2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.47% | 10.16% | +4.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.93% | 9.98% | +6.95% |
Dividends
HYT vs. WIW - Dividend Comparison
HYT's dividend yield for the trailing twelve months is around 10.94%, more than WIW's 8.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYT BlackRock Corporate High Yield Fund | 10.94% | 10.50% | 9.53% | 9.91% | 9.80% | 7.58% | 8.18% | 7.92% | 9.20% | 7.68% | 8.23% | 10.18% |
WIW Western Asset Inflation-Linked Opportunities & Income Fund | 8.96% | 8.68% | 8.78% | 10.38% | 11.81% | 6.93% | 3.20% | 3.74% | 4.26% | 3.70% | 3.61% | 3.91% |
Frequently Asked Questions
HYT and WIW have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYT has higher volatility (2.04%) compared to WIW (1.65%). In terms of maximum drawdown, HYT dropped -56.95% vs WIW's -29.49%.
WIW currently has the higher Sharpe Ratio (0.74 vs -0.17), 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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