LSHIX vs. LSIOX

Last updated Jun 23, 2026

LSHIX (Loomis Sayles Institutional High Income Fund) and LSIOX (Loomis Sayles High Income Opps Fund) are both High Yield Bonds funds from Loomis Sayles Funds. Over the past 10 years, LSHIX returned 5.29%/yr vs 5.70%/yr for LSIOX. Their correlation of 0.85 suggests significant overlap in exposure. LSHIX charges 0.71%/yr vs 0.00%/yr for LSIOX.

Performance

LSHIX vs. LSIOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Loomis Sayles Institutional High Income Fund (LSHIX) and Loomis Sayles High Income Opps Fund (LSIOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSHIX achieves a 2.10% return, which is significantly lower than LSIOX's 2.39% return. Over the past 10 years, LSHIX has underperformed LSIOX with an annualized return of 5.29%, while LSIOX has yielded a comparatively higher 5.70% annualized return.

LSHIX

• 1D: 0.00%
• 1M: 0.52%
• YTD: 2.10%
• 6M: 2.28%
• 1Y: 7.84%
• 3Y*: 9.16%
• 5Y*: 4.02%
• 10Y*: 5.29%

LSIOX

• 1D: 0.00%
• 1M: 0.74%
• YTD: 2.39%
• 6M: 2.61%
• 1Y: 7.90%
• 3Y*: 9.56%
• 5Y*: 3.74%
• 10Y*: 5.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

LSHIX vs. LSIOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LSHIX Loomis Sayles Institutional High Income Fund	2.10%	9.25%	9.43%	10.00%	-11.68%	8.23%	3.46%	10.55%	-3.55%	8.41%
LSIOX Loomis Sayles High Income Opps Fund	2.39%	9.31%	9.95%	10.81%	-12.85%	4.32%	9.25%	13.01%	-2.08%	8.40%

Correlation

The correlation between LSHIX and LSIOX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 27, 2013	0.85

The correlation between LSHIX and LSIOX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

LSHIX vs. LSIOX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LSHIX

LSHIX Risk / Return Rank: 90
LSHIX Sharpe Ratio Rank: 90
LSHIX Sortino Ratio Rank: 91
LSHIX Omega Ratio Rank: 88
LSHIX Calmar Ratio Rank: 89
LSHIX Martin Ratio Rank: 94

LSIOX

LSIOX Risk / Return Rank: 95
LSIOX Sharpe Ratio Rank: 95
LSIOX Sortino Ratio Rank: 96
LSIOX Omega Ratio Rank: 92
LSIOX Calmar Ratio Rank: 95
LSIOX Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LSHIX vs. LSIOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Loomis Sayles Institutional High Income Fund (LSHIX) and Loomis Sayles High Income Opps Fund (LSIOX). 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.

	LSHIX	LSIOX	Difference
Sharpe ratio: Return per unit of total volatility	2.72	3.10	-0.38
Sortino ratio: Return per unit of downside risk	4.21	4.96	-0.75
Omega ratio: Gain probability vs. loss probability	1.58	1.66	-0.07
Calmar ratio: Return relative to maximum drawdown	4.17	5.27	-1.10
Martin ratio: Return relative to average drawdown	19.53	23.46	-3.94

LSHIX vs. LSIOX - Sharpe Ratio Comparison

The current LSHIX Sharpe Ratio is 2.72, which is comparable to the LSIOX Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of LSHIX and LSIOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LSHIX vs. LSIOX - Drawdown Comparison

The maximum LSHIX drawdown since its inception was -40.26%, which is greater than LSIOX's maximum drawdown of -20.94%. Use the drawdown chart below to compare losses from any high point for LSHIX and LSIOX.

Drawdown Indicators

	LSHIX	LSIOX	Difference
Max Drawdown Largest peak-to-trough decline	-40.26%	-20.94%	-19.32%
Max Drawdown (1Y) Largest decline over 1 year	-2.25%	-1.82%	-0.43%
Max Drawdown (3Y) Largest decline over 3 years	-4.75%	-4.24%	-0.51%
Max Drawdown (5Y) Largest decline over 5 years	-15.18%	-17.13%	+1.95%
Max Drawdown (10Y) Largest decline over 10 years	-24.13%	-20.94%	-3.19%
Current Drawdown Current decline from peak	-0.34%	-0.22%	-0.12%
Average Drawdown Average peak-to-trough decline	-7.26%	-2.79%	-4.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	0.38%	+0.07%

Volatility

LSHIX vs. LSIOX - Volatility Comparison

Loomis Sayles Institutional High Income Fund (LSHIX) has a higher volatility of 1.01% compared to Loomis Sayles High Income Opps Fund (LSIOX) at 0.85%. This indicates that LSHIX's price experiences larger fluctuations and is considered to be riskier than LSIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSHIX	LSIOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	0.85%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	2.54%	2.24%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	3.45%	3.10%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.41%	5.29%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.13%	5.71%	+0.42%

LSHIX vs. LSIOX - Expense Ratio Comparison

LSHIX has a 0.71% expense ratio, which is higher than LSIOX's 0.00% expense ratio.

Dividends

LSHIX vs. LSIOX - Dividend Comparison

LSHIX's dividend yield for the trailing twelve months is around 5.65%, less than LSIOX's 6.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSHIX Loomis Sayles Institutional High Income Fund	5.65%	5.77%	7.72%	6.28%	4.96%	6.09%	5.14%	6.75%	7.52%	5.97%	6.06%	10.99%
LSIOX Loomis Sayles High Income Opps Fund	6.75%	6.39%	7.34%	7.31%	7.32%	9.02%	5.58%	5.62%	7.50%	5.64%	6.03%	6.18%

Frequently Asked Questions

Can I hold both LSHIX and LSIOX in my portfolio?

LSHIX and LSIOX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSHIX or LSIOX?

LSHIX has higher volatility (1.01%) compared to LSIOX (0.85%). In terms of maximum drawdown, LSHIX dropped -40.26% vs LSIOX's -20.94%.

Which has better risk-adjusted returns?

LSIOX currently has the higher Sharpe Ratio (3.10 vs 2.72), 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.