MGHYX vs. AAAZX
MGHYX (DWS Global High Income Fund) and AAAZX (DWS RREEF Real Assets Fund) are both mutual funds - MGHYX is a High Yield Bonds fund managed by DWS, while AAAZX is a Global Allocation fund managed by DWS. Over the past 10 years, MGHYX returned 4.83%/yr vs 7.14%/yr for AAAZX. Their 0.44 correlation means their historical movements had little consistent relationship. MGHYX charges 0.60%/yr vs 0.90%/yr for AAAZX.
Performance
MGHYX vs. AAAZX - Performance Comparison
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Returns By Period
In the year-to-date period, MGHYX achieves a 1.76% return, which is significantly lower than AAAZX's 10.65% return. Over the past 10 years, MGHYX has underperformed AAAZX with an annualized return of 4.83%, while AAAZX has yielded a comparatively higher 7.14% annualized return.
MGHYX
- 1D
- 0.16%
- 1M
- -0.24%
- 6M
- 1.16%
- YTD
- 1.76%
- 1Y
- 5.93%
- 3Y*
- 7.69%
- 5Y*
- 3.39%
- 10Y*
- 4.83%
- ALL TIME*
- 0.18%
AAAZX
- 1D
- -0.53%
- 1M
- 2.08%
- 6M
- 5.60%
- YTD
- 10.65%
- 1Y
- 17.43%
- 3Y*
- 10.41%
- 5Y*
- 5.32%
- 10Y*
- 7.14%
- ALL TIME*
- 4.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MGHYX vs. AAAZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGHYX DWS Global High Income Fund | 1.76% | 9.82% | 6.99% | 11.17% | -11.67% | 3.22% | 6.83% | 16.36% | -1.85% | 6.49% |
AAAZX DWS RREEF Real Assets Fund | 10.65% | 13.14% | 5.49% | 2.64% | -9.57% | 23.83% | 3.91% | 21.79% | -5.05% | 14.97% |
Correlation
The correlation between MGHYX and AAAZX is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2007 | 0.44 |
Over the past year, the correlation between MGHYX and AAAZX has dropped to 0.23 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.
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Return for Risk
MGHYX vs. AAAZX — Risk / Return Rank
MGHYX
AAAZX
MGHYX vs. AAAZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DWS Global High Income Fund (MGHYX) and DWS RREEF Real Assets Fund (AAAZX). 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.
| MGHYX | AAAZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.35 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 3.09 | -1.00 |
| Martin ratioReturn relative to average drawdown | 8.76 | 8.44 | +0.32 |
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Drawdowns
MGHYX vs. AAAZX - Drawdown Comparison
The maximum MGHYX drawdown since its inception was -53.47%, which is greater than AAAZX's maximum drawdown of -40.45%. Use the drawdown chart below to compare losses from any high point for MGHYX and AAAZX.
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Drawdown Indicators
| MGHYX | AAAZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.47% | -40.45% | -13.02% |
Max Drawdown (1Y)Largest decline over 1 year | -2.69% | -5.78% | +3.09% |
Max Drawdown (3Y)Largest decline over 3 years | -4.33% | -10.06% | +5.73% |
Max Drawdown (5Y)Largest decline over 5 years | -15.93% | -22.52% | +6.59% |
Max Drawdown (10Y)Largest decline over 10 years | -21.84% | -29.44% | +7.60% |
Current DrawdownCurrent decline from peak | -0.40% | -2.84% | +2.44% |
Average DrawdownAverage peak-to-trough decline | -23.98% | -6.60% | -17.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 2.11% | -1.47% |
Volatility
MGHYX vs. AAAZX - Volatility Comparison
The current volatility for DWS Global High Income Fund (MGHYX) is 0.82%, while DWS RREEF Real Assets Fund (AAAZX) has a volatility of 2.18%. This indicates that MGHYX experiences smaller price fluctuations and is considered to be less risky than AAAZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGHYX | AAAZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 2.18% | -1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 7.49% | -5.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.13% | 9.32% | -6.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 12.06% | -6.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.84% | 12.70% | -6.86% |
MGHYX vs. AAAZX - Expense Ratio Comparison
MGHYX has a 0.60% expense ratio, which is lower than AAAZX's 0.90% expense ratio.
Dividends
MGHYX vs. AAAZX - Dividend Comparison
MGHYX's dividend yield for the trailing twelve months is around 5.80%, less than AAAZX's 6.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAAZX DWS RREEF Real Assets Fund | 6.63% | 4.15% | 2.85% | 2.40% | 4.50% | 2.62% | 1.60% | 2.07% | 1.89% | 1.79% | 1.82% | 2.53% |
MGHYX DWS Global High Income Fund | 5.80% | 7.17% | 5.58% | 4.35% | 5.81% | 4.20% | 5.81% | 5.63% | 6.96% | 3.76% | 0.00% | 0.00% |
Frequently Asked Questions
MGHYX and AAAZX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAAZX has higher volatility (2.18%) compared to MGHYX (0.82%). In terms of maximum drawdown, MGHYX dropped -53.47% vs AAAZX's -40.45%.
AAAZX currently has the higher Sharpe Ratio (1.93 vs 1.80), 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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