LHYAX vs. CPMPX
LHYAX (Lord Abbett High Yield Fund) and CPMPX (Changing Parameters Fund) are both High Yield Bonds funds. Over the past 10 years, LHYAX returned 4.53%/yr vs 4.13%/yr for CPMPX. A 0.50 correlation means they provide meaningful diversification when combined. LHYAX charges 0.88%/yr vs 2.90%/yr for CPMPX.
Performance
LHYAX vs. CPMPX - Performance Comparison
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Returns By Period
In the year-to-date period, LHYAX achieves a 1.38% return, which is significantly higher than CPMPX's 0.66% return. Over the past 10 years, LHYAX has outperformed CPMPX with an annualized return of 4.53%, while CPMPX has yielded a comparatively lower 4.13% annualized return.
LHYAX
- 1D
- 0.16%
- 1M
- 0.25%
- YTD
- 1.38%
- 6M
- 2.15%
- 1Y
- 7.09%
- 3Y*
- 7.55%
- 5Y*
- 2.14%
- 10Y*
- 4.53%
CPMPX
- 1D
- 0.28%
- 1M
- -0.00%
- YTD
- 0.66%
- 6M
- 1.07%
- 1Y
- 5.01%
- 3Y*
- 3.30%
- 5Y*
- 2.31%
- 10Y*
- 4.13%
LHYAX vs. CPMPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LHYAX Lord Abbett High Yield Fund | 1.38% | 7.44% | 7.25% | 9.84% | -14.97% | 6.16% | 4.56% | 15.11% | -5.10% | 8.53% |
CPMPX Changing Parameters Fund | 0.66% | 6.65% | -3.47% | 8.13% | -0.22% | 3.86% | 13.43% | 6.82% | -1.19% | 5.29% |
Correlation
The correlation between LHYAX and CPMPX is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | 0.50 |
The correlation between LHYAX and CPMPX has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.
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Return for Risk
LHYAX vs. CPMPX — Risk / Return Rank
LHYAX
CPMPX
LHYAX vs. CPMPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lord Abbett High Yield Fund (LHYAX) and Changing Parameters Fund (CPMPX). 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.
| LHYAX | CPMPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.64 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 3.86 | -1.50 |
| Martin ratioReturn relative to average drawdown | 10.58 | 10.78 | -0.20 |
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Drawdowns
LHYAX vs. CPMPX - Drawdown Comparison
The maximum LHYAX drawdown since its inception was -31.68%, which is greater than CPMPX's maximum drawdown of -8.87%. Use the drawdown chart below to compare losses from any high point for LHYAX and CPMPX.
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Drawdown Indicators
| LHYAX | CPMPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.68% | -8.87% | -22.81% |
Max Drawdown (1Y)Largest decline over 1 year | -3.02% | -1.31% | -1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -4.87% | -8.13% | +3.26% |
Max Drawdown (5Y)Largest decline over 5 years | -18.67% | -8.13% | -10.54% |
Max Drawdown (10Y)Largest decline over 10 years | -24.23% | -8.13% | -16.10% |
Current DrawdownCurrent decline from peak | -0.48% | -1.28% | +0.80% |
Average DrawdownAverage peak-to-trough decline | -3.07% | -1.86% | -1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.47% | +0.20% |
Volatility
LHYAX vs. CPMPX - Volatility Comparison
Lord Abbett High Yield Fund (LHYAX) has a higher volatility of 1.14% compared to Changing Parameters Fund (CPMPX) at 0.64%. This indicates that LHYAX's price experiences larger fluctuations and is considered to be riskier than CPMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LHYAX | CPMPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.64% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 1.36% | +1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 1.85% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.09% | 3.84% | +1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.73% | 3.11% | +2.62% |
LHYAX vs. CPMPX - Expense Ratio Comparison
LHYAX has a 0.88% expense ratio, which is lower than CPMPX's 2.90% expense ratio.
Dividends
LHYAX vs. CPMPX - Dividend Comparison
LHYAX's dividend yield for the trailing twelve months is around 7.23%, more than CPMPX's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPMPX Changing Parameters Fund | 3.80% | 3.83% | 0.00% | 4.26% | 5.03% | 4.24% | 6.94% | 2.85% | 1.71% | 3.32% | 2.25% | 1.51% |
LHYAX Lord Abbett High Yield Fund | 7.23% | 7.13% | 6.02% | 5.84% | 4.60% | 4.91% | 5.15% | 5.47% | 6.29% | 5.65% | 5.85% | 6.08% |
Frequently Asked Questions
LHYAX and CPMPX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LHYAX has higher volatility (1.14%) compared to CPMPX (0.64%). In terms of maximum drawdown, LHYAX dropped -31.68% vs CPMPX's -8.87%.
CPMPX currently has the higher Sharpe Ratio (2.74 vs 1.94), 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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