HYZD vs. HYSZX
Compare and contrast key facts about WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) and PGIM Short Duration High Yield Income Fund (HYSZX).
HYZD is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. It was launched on Dec 18, 2013. HYSZX is managed by PGIM Investments. It was launched on Oct 26, 2012.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYZD or HYSZX.
Key characteristics
| HYZD | HYSZX | |
|---|---|---|
| YTD Return | 9.92% | 6.99% |
| 1Y Return | 13.57% | 12.91% |
| 3Y Return (Ann) | 6.36% | 4.31% |
| 5Y Return (Ann) | 5.16% | 4.89% |
| 10Y Return (Ann) | 4.61% | 4.79% |
| Sharpe Ratio | 3.02 | 3.82 |
| Sortino Ratio | 4.65 | 7.48 |
| Omega Ratio | 1.59 | 2.09 |
| Calmar Ratio | 5.08 | 7.18 |
| Martin Ratio | 29.12 | 25.97 |
| Ulcer Index | 0.47% | 0.50% |
| Daily Std Dev | 4.50% | 3.39% |
| Max Drawdown | -25.66% | -18.31% |
| Current Drawdown | 0.00% | -0.05% |
Correlation
The correlation between HYZD and HYSZX is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
HYZD vs. HYSZX - Performance Comparison
In the year-to-date period, HYZD achieves a 9.92% return, which is significantly higher than HYSZX's 6.99% return. Both investments have delivered pretty close results over the past 10 years, with HYZD having a 4.61% annualized return and HYSZX not far ahead at 4.79%. 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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HYZD vs. HYSZX - Expense Ratio Comparison
HYZD has a 0.43% expense ratio, which is lower than HYSZX's 0.75% expense ratio.
Risk-Adjusted Performance
HYZD vs. HYSZX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) and PGIM Short Duration High Yield Income Fund (HYSZX). 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
HYZD vs. HYSZX - Dividend Comparison
HYZD's dividend yield for the trailing twelve months is around 6.05%, less than HYSZX's 6.68% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 6.05% | 5.94% | 5.14% | 4.02% | 5.14% | 5.51% | 5.58% | 4.95% | 5.07% | 4.38% | 3.82% | 0.10% |
HYSZX PGIM Short Duration High Yield Income Fund | 6.68% | 6.42% | 6.15% | 5.01% | 5.00% | 5.53% | 5.95% | 5.73% | 6.13% | 6.76% | 6.22% | 6.01% |
Drawdowns
HYZD vs. HYSZX - Drawdown Comparison
The maximum HYZD drawdown since its inception was -25.66%, which is greater than HYSZX's maximum drawdown of -18.31%. Use the drawdown chart below to compare losses from any high point for HYZD and HYSZX. For additional features, visit the drawdowns tool.
Volatility
HYZD vs. HYSZX - Volatility Comparison
WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) has a higher volatility of 1.20% compared to PGIM Short Duration High Yield Income Fund (HYSZX) at 0.63%. This indicates that HYZD's price experiences larger fluctuations and is considered to be riskier than HYSZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.