ISD vs. HYI
ISD (PGIM High Yield Bond Fund) and HYI (Western Asset High Yield Opportunity Fund Inc) are both High Yield Bonds funds. Over the past 10 years, ISD returned 6.95%/yr vs 5.17%/yr for HYI. At a 0.44 correlation, their price movements are largely independent. ISD charges 0.02%/yr vs 0.01%/yr for HYI.
Performance
ISD vs. HYI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ISD achieves a -8.40% return, which is significantly lower than HYI's -0.93% return. Over the past 10 years, ISD has outperformed HYI with an annualized return of 6.95%, while HYI has yielded a comparatively lower 5.17% annualized return.
ISD
- 1D
- -0.08%
- 1M
- -0.66%
- YTD
- -8.40%
- 6M
- -8.30%
- 1Y
- 1.52%
- 3Y*
- 11.16%
- 5Y*
- 4.57%
- 10Y*
- 6.95%
HYI
- 1D
- 0.24%
- 1M
- 0.43%
- YTD
- -0.93%
- 6M
- 0.33%
- 1Y
- -1.80%
- 3Y*
- 6.21%
- 5Y*
- 1.57%
- 10Y*
- 5.17%
ISD vs. HYI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISD PGIM High Yield Bond Fund | -8.40% | 15.63% | 22.05% | 15.05% | -18.42% | 15.72% | 6.66% | 28.41% | -5.03% | 3.59% |
HYI Western Asset High Yield Opportunity Fund Inc | -0.93% | 4.09% | 7.58% | 6.72% | -13.48% | 10.04% | 6.78% | 27.90% | -6.36% | 8.57% |
Correlation
The correlation between ISD and HYI is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2012 | 0.44 |
The correlation between ISD and HYI has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ISD vs. HYI — Risk / Return Rank
ISD
HYI
ISD vs. HYI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM High Yield Bond Fund (ISD) and Western Asset High Yield Opportunity Fund Inc (HYI). 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.
| ISD | HYI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.96 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | -0.22 | +0.33 |
| Martin ratioReturn relative to average drawdown | 0.31 | -0.42 | +0.73 |
Loading charts...
Drawdowns
ISD vs. HYI - Drawdown Comparison
The maximum ISD drawdown since its inception was -38.88%, which is greater than HYI's maximum drawdown of -36.06%. Use the drawdown chart below to compare losses from any high point for ISD and HYI.
Loading charts...
Drawdown Indicators
| ISD | HYI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.88% | -36.06% | -2.82% |
Max Drawdown (1Y)Largest decline over 1 year | -13.52% | -8.19% | -5.33% |
Max Drawdown (3Y)Largest decline over 3 years | -13.94% | -8.19% | -5.75% |
Max Drawdown (5Y)Largest decline over 5 years | -25.45% | -26.35% | +0.90% |
Max Drawdown (10Y)Largest decline over 10 years | -38.88% | -36.06% | -2.82% |
Current DrawdownCurrent decline from peak | -10.35% | -5.43% | -4.92% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -5.80% | +0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.98% | 4.26% | +0.72% |
Volatility
ISD vs. HYI - Volatility Comparison
PGIM High Yield Bond Fund (ISD) has a higher volatility of 1.60% compared to Western Asset High Yield Opportunity Fund Inc (HYI) at 1.15%. This indicates that ISD's price experiences larger fluctuations and is considered to be riskier than HYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ISD | HYI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 1.15% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 9.56% | 5.33% | +4.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.15% | 6.92% | +4.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.35% | 11.27% | +2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.58% | 12.94% | +1.64% |
ISD vs. HYI - Expense Ratio Comparison
ISD has a 0.02% expense ratio, which is higher than HYI's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ISD vs. HYI - Dividend Comparison
ISD's dividend yield for the trailing twelve months is around 9.88%, less than HYI's 10.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYI Western Asset High Yield Opportunity Fund Inc | 10.87% | 10.22% | 9.64% | 9.40% | 9.09% | 7.19% | 7.35% | 6.87% | 8.10% | 7.81% | 8.73% | 9.36% |
ISD PGIM High Yield Bond Fund | 9.88% | 8.71% | 9.21% | 10.23% | 10.61% | 7.85% | 8.40% | 7.86% | 7.89% | 8.46% | 8.28% | 9.64% |
Frequently Asked Questions
ISD and HYI have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISD has higher volatility (1.60%) compared to HYI (1.15%). In terms of maximum drawdown, ISD dropped -38.88% vs HYI's -36.06%.
ISD currently has the higher Sharpe Ratio (0.14 vs -0.26), 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.
Find the right allocation for ISD and HYI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer