HYZD vs. HYSZX
HYZD (WisdomTree Interest Rate Hedged High Yield Bond Fund) and HYSZX (PGIM Short Duration High Yield Income Fund) are both High Yield Bonds funds. Over the past 10 years, HYZD returned 5.36%/yr vs 4.69%/yr for HYSZX. Their 0.35 correlation means their historical movements had little consistent relationship. HYZD charges 0.43%/yr vs 0.75%/yr for HYSZX.
Performance
HYZD vs. HYSZX - Performance Comparison
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Returns By Period
In the year-to-date period, HYZD achieves a 3.50% return, which is significantly higher than HYSZX's 1.05% return. Over the past 10 years, HYZD has outperformed HYSZX with an annualized return of 5.36%, while HYSZX has yielded a comparatively lower 4.69% annualized return.
HYZD
- 1D
- 0.15%
- 1M
- 0.51%
- 6M
- 2.66%
- YTD
- 3.50%
- 1Y
- 7.45%
- 3Y*
- 8.44%
- 5Y*
- 6.27%
- 10Y*
- 5.36%
- ALL TIME*
- 4.40%
HYSZX
- 1D
- 0.12%
- 1M
- -0.84%
- 6M
- 0.65%
- YTD
- 1.05%
- 1Y
- 3.46%
- 3Y*
- 6.46%
- 5Y*
- 3.81%
- 10Y*
- 4.69%
- ALL TIME*
- 4.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.53M | $1.90M | $1.53M |
HYZD vs. HYSZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 3.50% | 7.67% | 9.39% | 11.17% | -2.35% | 6.27% | -0.63% | 9.17% | -2.21% | 6.32% |
HYSZX PGIM Short Duration High Yield Income Fund | 1.05% | 7.84% | 6.49% | 9.57% | -6.46% | 5.48% | 4.19% | 11.78% | 1.20% | 4.80% |
Correlation
The correlation between HYZD and HYSZX is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.36 |
Correlation (All Time) Calculated using the full available price history since Dec 18, 2013 | 0.35 |
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Return for Risk
HYZD vs. HYSZX — Risk / Return Rank
HYZD
HYSZX
HYZD vs. HYSZX - Risk-Adjusted Trends 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.
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.
| HYZD | HYSZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.31 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 2.01 | +1.65 |
| Martin ratioReturn relative to average drawdown | 15.97 | 8.99 | +6.98 |
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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.
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Drawdown Indicators
| HYZD | HYSZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.66% | -18.31% | -7.35% |
Max Drawdown (1Y)Largest decline over 1 year | -1.91% | -2.01% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -5.85% | -2.82% | -3.03% |
Max Drawdown (5Y)Largest decline over 5 years | -8.97% | -9.77% | +0.80% |
Max Drawdown (10Y)Largest decline over 10 years | -25.66% | -18.31% | -7.35% |
Current DrawdownCurrent decline from peak | 0.00% | -0.84% | +0.84% |
Average DrawdownAverage peak-to-trough decline | -2.18% | -1.18% | -1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.45% | -0.01% |
Volatility
HYZD vs. HYSZX - Volatility Comparison
The current volatility for WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) is 0.44%, while PGIM Short Duration High Yield Income Fund (HYSZX) has a volatility of 0.61%. This indicates that HYZD experiences smaller price fluctuations and is considered to be less risky than HYSZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYZD | HYSZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.44% | 0.61% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 2.30% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 2.88% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.69% | 3.89% | +2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.50% | 4.22% | +4.28% |
HYZD vs. HYSZX - Expense Ratio Comparison
HYZD has a 0.43% expense ratio, which is lower than HYSZX's 0.75% expense ratio.
Dividends
HYZD vs. HYSZX - Dividend Comparison
HYZD's dividend yield for the trailing twelve months is around 5.89%, which matches HYSZX's 5.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYSZX PGIM Short Duration High Yield Income Fund | 5.87% | 6.45% | 6.27% | 4.84% | 5.01% | 4.56% | 5.00% | 5.60% | 5.94% | 5.73% | 6.33% | 6.76% |
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 5.89% | 6.05% | 6.08% | 5.94% | 5.14% | 4.02% | 5.13% | 5.50% | 5.58% | 4.94% | 5.07% | 4.38% |
Frequently Asked Questions
HYZD and HYSZX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYSZX has higher volatility (0.61%) compared to HYZD (0.44%). In terms of maximum drawdown, HYZD dropped -25.66% vs HYSZX's -18.31%.
HYZD currently has the higher Sharpe Ratio (2.32 vs 1.40), 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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