MFHIX vs. VWEAX

Last updated Aug 1, 2026

MFHIX (MetLife Opportunistic High Yield Fund Institutional Class) and VWEAX (Vanguard High-Yield Corporate Fund Admiral Shares) are both High Yield Bonds funds. Both are actively managed. Over the past 5 years, MFHIX returned 5.82%/yr vs 3.82%/yr for VWEAX. Their 0.61 correlation means they have sometimes moved together and sometimes differently. MFHIX charges 0.75%/yr vs 0.12%/yr for VWEAX.

Performance

MFHIX vs. VWEAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MetLife Opportunistic High Yield Fund Institutional Class (MFHIX) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MFHIX achieves a 4.19% return, which is significantly higher than VWEAX's 0.81% return.

MFHIX

• 1D: 0.25%
• 1M: 0.75%
• 6M: 2.89%
• YTD: 4.19%
• 1Y: 6.06%
• 3Y*: 8.26%
• 5Y*: 5.82%
• 10Y*: —
• ALL TIME*: 7.08%

VWEAX

• 1D: 0.18%
• 1M: -0.73%
• 6M: 0.65%
• YTD: 0.81%
• 1Y: 4.62%
• 3Y*: 7.57%
• 5Y*: 3.82%
• 10Y*: 4.94%
• ALL TIME*: 5.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MFHIX MetLife Opportunistic High Yield Fund Institutional Class	$0.00	$0.00	$0.00
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares	$0.00	$0.00	$0.00

MFHIX vs. VWEAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MFHIX MetLife Opportunistic High Yield Fund Institutional Class	4.19%	4.82%	10.10%	14.35%	-5.59%	10.67%	7.24%	13.00%	-3.06%
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares	0.81%	9.49%	6.42%	11.79%	-8.95%	3.04%	5.41%	15.92%	-2.13%

Correlation

The correlation between MFHIX and VWEAX is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (All Time) Calculated using the full available price history since Dec 3, 2018	0.61

The correlation between MFHIX and VWEAX has been stable across timeframes, ranging from 0.57 to 0.61 - a consistent structural relationship.

Return for Risk

MFHIX vs. VWEAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MFHIX

MFHIX Risk / Return Rank: 74
MFHIX Sharpe Ratio Rank: 86
MFHIX Sortino Ratio Rank: 86
MFHIX Omega Ratio Rank: 86
MFHIX Calmar Ratio Rank: 70
MFHIX Martin Ratio Rank: 42

VWEAX

VWEAX Risk / Return Rank: 75
VWEAX Sharpe Ratio Rank: 69
VWEAX Sortino Ratio Rank: 79
VWEAX Omega Ratio Rank: 81
VWEAX Calmar Ratio Rank: 64
VWEAX Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MFHIX vs. VWEAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MetLife Opportunistic High Yield Fund Institutional Class (MFHIX) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). 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.

	MFHIX	VWEAX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.57	+0.58
Sortino ratio: Return per unit of downside risk	3.13	2.67	+0.46
Omega ratio: Gain probability vs. loss probability	1.43	1.37	+0.07
Calmar ratio: Return relative to maximum drawdown	2.39	2.06	+0.33
Martin ratio: Return relative to average drawdown	6.46	9.91	-3.45

MFHIX vs. VWEAX - Sharpe Ratio Comparison

The current MFHIX Sharpe Ratio is 2.15, which is higher than the VWEAX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of MFHIX and VWEAX, 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

MFHIX vs. VWEAX - Drawdown Comparison

The maximum MFHIX drawdown since its inception was -21.02%, smaller than the maximum VWEAX drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for MFHIX and VWEAX.

Drawdown Indicators

	MFHIX	VWEAX	Difference
Max Drawdown Largest peak-to-trough decline	-21.02%	-30.05%	+9.03%
Max Drawdown (1Y) Largest decline over 1 year	-2.45%	-2.52%	+0.07%
Max Drawdown (3Y) Largest decline over 3 years	-5.09%	-3.32%	-1.77%
Max Drawdown (5Y) Largest decline over 5 years	-12.02%	-13.77%	+1.75%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.68%	—
Current Drawdown Current decline from peak	0.00%	-0.91%	+0.91%
Average Drawdown Average peak-to-trough decline	-2.03%	-2.11%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	0.52%	+0.38%

Volatility

MFHIX vs. VWEAX - Volatility Comparison

The current volatility for MetLife Opportunistic High Yield Fund Institutional Class (MFHIX) is 0.51%, while Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) has a volatility of 0.68%. This indicates that MFHIX experiences smaller price fluctuations and is considered to be less risky than VWEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFHIX	VWEAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	0.68%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	2.02%	2.69%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	2.73%	3.32%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.58%	4.93%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.02%	5.25%	-0.23%

MFHIX vs. VWEAX - Expense Ratio Comparison

MFHIX has a 0.75% expense ratio, which is higher than VWEAX's 0.12% expense ratio.

Dividends

MFHIX vs. VWEAX - Dividend Comparison

MFHIX's dividend yield for the trailing twelve months is around 9.35%, more than VWEAX's 5.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFHIX MetLife Opportunistic High Yield Fund Institutional Class	9.35%	9.64%	9.20%	9.89%	16.17%	8.68%	7.52%	8.78%	0.04%	0.00%	0.00%	0.00%
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares	5.87%	6.25%	6.20%	5.79%	5.21%	3.49%	4.71%	5.33%	6.07%	5.39%	5.51%	6.53%

Frequently Asked Questions

Can I hold both MFHIX and VWEAX in my portfolio?

MFHIX and VWEAX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MFHIX or VWEAX?

VWEAX has higher volatility (0.68%) compared to MFHIX (0.51%). In terms of maximum drawdown, MFHIX dropped -21.02% vs VWEAX's -30.05%.

Which has better risk-adjusted returns?

MFHIX currently has the higher Sharpe Ratio (2.15 vs 1.57), 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.