MGHYX vs. PIAMX
MGHYX (DWS Global High Income Fund) and PIAMX (PIA High Yield (MACS) Fund) are both High Yield Bonds funds. Over the past 5 years, MGHYX returned 3.39%/yr vs 3.94%/yr for PIAMX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. MGHYX charges 0.60%/yr vs 0.20%/yr for PIAMX.
Performance
MGHYX vs. PIAMX - Performance Comparison
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Returns By Period
In the year-to-date period, MGHYX achieves a 1.76% return, which is significantly higher than PIAMX's 1.27% 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%
PIAMX
- 1D
- 0.00%
- 1M
- 0.23%
- 6M
- 0.37%
- YTD
- 1.27%
- 1Y
- 2.29%
- 3Y*
- 6.73%
- 5Y*
- 3.94%
- 10Y*
- —
- ALL TIME*
- 5.12%
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. PIAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MGHYX DWS Global High Income Fund | 1.76% | 9.82% | 6.99% | 11.17% | -11.67% | 3.22% | 6.83% | 16.36% | -2.75% |
PIAMX PIA High Yield (MACS) Fund | 1.27% | 2.34% | 11.23% | 16.38% | -10.93% | 7.82% | 9.05% | 11.77% | -2.63% |
Correlation
The correlation between MGHYX and PIAMX is 0.66, 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. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2018 | 0.68 |
The correlation between MGHYX and PIAMX has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.
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Return for Risk
MGHYX vs. PIAMX — Risk / Return Rank
MGHYX
PIAMX
MGHYX vs. PIAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DWS Global High Income Fund (MGHYX) and PIA High Yield (MACS) Fund (PIAMX). 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 | PIAMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.12 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 0.52 | +1.58 |
| Martin ratioReturn relative to average drawdown | 8.76 | 1.54 | +7.22 |
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Drawdowns
MGHYX vs. PIAMX - Drawdown Comparison
The maximum MGHYX drawdown since its inception was -53.47%, which is greater than PIAMX's maximum drawdown of -18.15%. Use the drawdown chart below to compare losses from any high point for MGHYX and PIAMX.
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Drawdown Indicators
| MGHYX | PIAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.47% | -18.15% | -35.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.69% | -3.75% | +1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -4.33% | -6.17% | +1.84% |
Max Drawdown (5Y)Largest decline over 5 years | -15.93% | -13.92% | -2.01% |
Max Drawdown (10Y)Largest decline over 10 years | -21.84% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | -0.27% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -23.98% | -2.30% | -21.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 1.25% | -0.61% |
Volatility
MGHYX vs. PIAMX - Volatility Comparison
DWS Global High Income Fund (MGHYX) has a higher volatility of 0.82% compared to PIA High Yield (MACS) Fund (PIAMX) at 0.64%. This indicates that MGHYX's price experiences larger fluctuations and is considered to be riskier than PIAMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGHYX | PIAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.64% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 2.53% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.13% | 3.18% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 4.05% | +1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.84% | 4.20% | +1.64% |
MGHYX vs. PIAMX - Expense Ratio Comparison
MGHYX has a 0.60% expense ratio, which is higher than PIAMX's 0.20% expense ratio.
Dividends
MGHYX vs. PIAMX - Dividend Comparison
MGHYX's dividend yield for the trailing twelve months is around 5.80%, less than PIAMX's 7.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
PIAMX PIA High Yield (MACS) Fund | 7.08% | 9.12% | 8.49% | 8.12% | 7.99% | 8.64% | 6.63% | 6.96% | 7.14% | 0.00% |
Frequently Asked Questions
MGHYX and PIAMX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGHYX has higher volatility (0.82%) compared to PIAMX (0.64%). In terms of maximum drawdown, MGHYX dropped -53.47% vs PIAMX's -18.15%.
MGHYX currently has the higher Sharpe Ratio (1.80 vs 0.61), 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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