ISD vs. SDHY
ISD (PGIM High Yield Bond Fund) and SDHY (PGIM Short Duration High Yield Opportunities Fund) are both High Yield Bonds funds from PGIM. Over the past 5 years, ISD returned 4.57%/yr vs 5.37%/yr for SDHY. A 0.52 correlation means they provide meaningful diversification when combined. ISD charges 0.02%/yr vs 0.70%/yr for SDHY.
Performance
ISD vs. SDHY - Performance Comparison
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Returns By Period
In the year-to-date period, ISD achieves a -8.40% return, which is significantly lower than SDHY's 1.63% 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%
SDHY
- 1D
- 0.12%
- 1M
- 2.32%
- YTD
- 1.63%
- 6M
- 1.75%
- 1Y
- 6.09%
- 3Y*
- 11.61%
- 5Y*
- 5.37%
- 10Y*
- —
ISD vs. SDHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ISD PGIM High Yield Bond Fund | -8.40% | 15.63% | 22.05% | 15.05% | -18.42% | 15.72% | 4.33% |
SDHY PGIM Short Duration High Yield Opportunities Fund | 1.63% | 10.37% | 16.68% | 11.40% | -13.33% | -3.05% | 2.35% |
Correlation
The correlation between ISD and SDHY is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2020 | 0.52 |
The correlation between ISD and SDHY has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.
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Return for Risk
ISD vs. SDHY — Risk / Return Rank
ISD
SDHY
ISD vs. SDHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PGIM High Yield Bond Fund (ISD) and PGIM Short Duration High Yield Opportunities Fund (SDHY). 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 | SDHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.16 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 0.97 | -0.86 |
| Martin ratioReturn relative to average drawdown | 0.31 | 2.75 | -2.45 |
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Drawdowns
ISD vs. SDHY - Drawdown Comparison
The maximum ISD drawdown since its inception was -38.88%, which is greater than SDHY's maximum drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for ISD and SDHY.
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Drawdown Indicators
| ISD | SDHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.88% | -22.65% | -16.23% |
Max Drawdown (1Y)Largest decline over 1 year | -13.52% | -6.29% | -7.23% |
Max Drawdown (3Y)Largest decline over 3 years | -13.94% | -9.24% | -4.70% |
Max Drawdown (5Y)Largest decline over 5 years | -25.45% | -22.28% | -3.17% |
Max Drawdown (10Y)Largest decline over 10 years | -38.88% | — | — |
Current DrawdownCurrent decline from peak | -10.35% | -0.94% | -9.41% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -6.65% | +1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.98% | 2.22% | +2.76% |
Volatility
ISD vs. SDHY - Volatility Comparison
The current volatility for PGIM High Yield Bond Fund (ISD) is 1.60%, while PGIM Short Duration High Yield Opportunities Fund (SDHY) has a volatility of 1.88%. This indicates that ISD experiences smaller price fluctuations and is considered to be less risky than SDHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISD | SDHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 1.88% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.56% | 5.90% | +3.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.15% | 7.33% | +3.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.35% | 10.53% | +2.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.58% | 10.98% | +3.60% |
ISD vs. SDHY - Expense Ratio Comparison
ISD has a 0.02% expense ratio, which is lower than SDHY's 0.70% expense ratio.
Dividends
ISD vs. SDHY - Dividend Comparison
ISD's dividend yield for the trailing twelve months is around 9.88%, more than SDHY's 8.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SDHY PGIM Short Duration High Yield Opportunities Fund | 8.01% | 7.88% | 8.04% | 8.64% | 8.82% | 7.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ISD and SDHY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDHY has higher volatility (1.88%) compared to ISD (1.60%). In terms of maximum drawdown, ISD dropped -38.88% vs SDHY's -22.65%.
SDHY currently has the higher Sharpe Ratio (0.83 vs 0.14), 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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